Common use of Termination of Agreement Term Clause in Contracts

Termination of Agreement Term. (a) The Agreement Term shall terminate as to each Sponsor upon the earliest of the occurrence of any of the following events with respect to such Sponsor: (i) The last day of the Fiscal Year of a Sponsor during which there occurs an Event of Non­Appropriation as provided in Section 4.10 thereof with respect to such Sponsor; (ii) An Event of Default with respect to such Sponsor and termination of the Agreement Term under Article VIII of this Agreement; or (iii) , 2051, which date constitutes the last day of the Agreement Term, or such later date as all State Payments or City Payments, as the case may be, required hereunder are paid by the respective Sponsor. (b) The Agreement Term shall again commence notwithstanding termination pursuant to (a)(i) above for a Sponsor if such Sponsor appropriates all amounts required at the time to be appropriated pursuant to Section 4.6 and pays all Sponsor Payments of such Sponsor required at the time to have been paid, in each instance without regard to any termination of the Agreement Term with respect to such Sponsor, plus any additional amount required sufficient to reimburse the Authority and the Trustee for all amounts advanced or incurred by the Authority and the Trustee due to such Sponsor’s Event of Non­Appropriation as provided in Section 8.5 hereof and to cause the amounts on deposit in each of the funds and accounts created pursuant to the applicable Project Indenture to at least equal the amounts which would have otherwise been on deposit therein at the time of such payment if such Event of Non­Appropriation had not occurred, exclusive of lost investment earnings. (c) The Agreement Term shall terminate on the date on which all Project Bonds are paid or deemed to be paid as provided in the Project Indentures, or as set forth in Section 3.1 hereof.

Termination of Agreement Term. (a) The Agreement Term shall terminate as to each Sponsor upon the earliest of the occurrence of any of the following events with respect to such Sponsor: (i) The last day of the Fiscal Year of a Sponsor during which there occurs an Event of Non­Appropriation Non-Appropriation as provided in Section 4.10 thereof with respect to such Sponsor; (ii) An Event of Default with respect to such Sponsor and termination of the Agreement Term under Article VIII of this Agreement; or (iii) , 2051, which date constitutes the last day of the Agreement Term, or such later date as all State Payments or City Payments, as the case may be, required hereunder are paid by the respective Sponsor. (b) The Agreement Term shall again commence notwithstanding termination pursuant to (a)(i) above for a Sponsor if such Sponsor appropriates all amounts required at the time to be appropriated pursuant to Section 4.6 and pays all Sponsor Payments of such Sponsor required at the time to have been paid, in each instance without regard to any termination of the Agreement Term with respect to such Sponsor, plus any additional amount required sufficient to reimburse the Authority and the Trustee for all amounts advanced or incurred by the Authority and the Trustee due to such Sponsor’s Event of Non­Appropriation Non-Appropriation as provided in Section 8.5 hereof and to cause the amounts on deposit in each of the funds and accounts created pursuant to the applicable Project Indenture to at least equal the amounts which would have otherwise been on deposit therein at the time of such payment if such Event of Non­Appropriation Non-Appropriation had not occurred, exclusive of lost investment earnings. (c) The Agreement Term shall terminate on the date on which all Project Bonds are paid or deemed to be paid as provided in the Project Indentures, or as set forth in Section 3.1 hereof.

Termination of Agreement Term. (a) The Agreement Term shall terminate as to each Sponsor upon the earliest of the occurrence of any of the following events with respect to such Sponsor: (i) The last day of the Fiscal Year of a Sponsor during which there occurs an Event of Non­Appropriation Non-Appropriation as provided in Section 4.10 thereof hereof with respect to such Sponsor;Sponsor; (ii) An Event of Default with respect to such Sponsor and termination of the Agreement Term under Article VIII of this Agreement; Agreement; or (iii) , 2051, which date constitutes the last day of the Agreement Term, or such later date as all State Payments or City Payments, as the case may be, required hereunder are paid by the respective Sponsor. (b) The Agreement Term shall again commence notwithstanding termination pursuant to (a)(i) above for a Sponsor if such Sponsor appropriates all amounts required at the time to be appropriated pursuant to Section 4.6 and pays all Sponsor Payments of such Sponsor required at the time to have been paid, in each instance without regard to any termination of the Agreement Term with respect to such Sponsor, plus any additional amount required sufficient to reimburse the Authority and the Trustee for all amounts advanced or incurred by the Authority and the Trustee due to such Sponsor’s Event of Non­Appropriation Non-Appropriation as provided in Section 8.5 hereof and to cause the amounts on deposit in each of the funds and accounts created pursuant to the applicable Project Indenture to at least equal the amounts which would have otherwise been on deposit therein at the time of such payment if such Event of Non­Appropriation Non-Appropriation had not occurred, exclusive of lost investment earnings. (c) The Agreement Term shall terminate on the date on which all Project Bonds are paid or deemed to be paid as provided in the Project Indentures, or as set forth in Section 3.1 hereof.

Termination of Agreement Term. (a) The Agreement Term shall terminate as to each Sponsor upon the earliest of the occurrence of any of the following events with respect to such Sponsor: (i) The last day of the Fiscal Year of a Sponsor during which there occurs an Event of Non­Appropriation Non-Appropriation as provided in Section 4.10 thereof thereofhereof with respect to such Sponsor;Sponsor; (ii) An Event of Default with respect to such Sponsor and termination of the Agreement Term under Article VIII of this Agreement; Agreement; or (iii) , 2051, which date constitutes the last day of the Agreement Term, or such later date as all State Payments or City Payments, as the case may be, required hereunder are paid by the respective Sponsor. (b) The Agreement Term shall again commence notwithstanding termination pursuant to (a)(i) above for a Sponsor if such Sponsor appropriates all amounts required at the time to be appropriated pursuant to Section 4.6 and pays all Sponsor Payments of such Sponsor required at the time to have been paid, in each instance without regard to any termination of the Agreement Term with respect to such Sponsor, plus any additional amount required sufficient to reimburse the Authority and the Trustee for all amounts advanced or incurred by the Authority and the Trustee due to such Sponsor’s Event of Non­Appropriation Non-Appropriation as provided in Section 8.5 hereof and to cause the amounts on deposit in each of the funds and accounts created pursuant to the applicable Project Indenture to at least equal the amounts which would have otherwise been on deposit therein at the time of such payment if such Event of Non­Appropriation Non-Appropriation had not occurred, exclusive of lost investment earnings. (c) The Agreement Term shall terminate on the date on which all Project Bonds are paid or deemed to be paid as provided in the Project Indentures, or as set forth in Section 3.1 hereof.