Common use of TERM OF MEMORANDUM OF UNDERSTANDING Clause in Contracts

TERM OF MEMORANDUM OF UNDERSTANDING. The term of this Memorandum of Understanding shall commence on the date of this Memorandum of Understanding, and shall continue until such time as the obligations contained in the Lease are fully satisfied and all such funds paid thereunder, and costs incurred, by the City have been repaid by the School System.

TERM OF MEMORANDUM OF UNDERSTANDING. The term of this Memorandum of Understanding shall commence on the date of this Memorandum of Understanding, and shall continue until such time as the obligations contained in the Lease are fully satisfied and all such funds paid thereunder, and costs incurred, by the City have been repaid by the School SystemBoard.

TERM OF MEMORANDUM OF UNDERSTANDING. The term of this Memorandum of Understanding shall commence on the date of this Memorandum of Understanding, Understanding and shall continue until such time as the obligations contained in the Lease herein are fully satisfied and all such funds paid thereunder, and costs incurred, by the City have been repaid by the satisfied. The School System’s obligations under this Memorandum of Understanding shall be fully satisfied upon satisfaction of all payment obligations under the USDA Rural Development Community Facilities Loan Program.