TIF Revenue Shortfalls. In the event Pledged TIF Revenues are, in any given period, insufficient to make payment on the Bonds, such shortfall shall accrue and be payable from future Pledged TIF Revenues during the Bond Term. In the event and to the extent the Developer or any affiliate makes any payment on the Bonds, the Developer or such affiliate will be subrogated to the rights of the Commission to receive Pledged TIF Revenues in excess of current amounts payable on the Bonds in any subsequent time period. Such amounts payable to the Developer or such affiliate will bear interest at the same rate or rates as the applicable Bond.
TIF Revenue Shortfalls. In the event Pledged TIF Revenues are insufficient to make payment on the Bonds, such shortfall shall accrue and be payable from future Pledged TIF Revenues. Such shortfall amounts payable to Developer will not bear interest.
TIF Revenue Shortfalls. In the event Pledged Increment is, in any given period, insufficient to make payment on the Mixed-Use Bonds, such shortfall shall accrue and be payable from future Pledged Increment during the Bond Term. In the event and to the extent the Company or any affiliate makes any payment on the Mixed-Use Bonds, the Company or such affiliate will be subrogated to the rights of the Commission to receive Pledged Increment in excess of current amounts payable on the Mixed-Use Bonds in any subsequent time period. Such amounts payable to the Company or such affiliate will bear interest at the same rate or rates as the applicable Mixed-Use Bond.
TIF Revenue Shortfalls. In the event Pledged Increment is, in any given period, insufficient to make payment on the TIF Bonds, such shortfall shall accrue and be payable from future Pledged Increment during the Bond Term and no other source of City Bodies. In the event and to the extent Company or any affiliate makes any payment on the TIF Bonds, Company or such affiliate will be subrogated to the rights of City Bodies to receive Pledged Increment in excess of current amounts payable on the Bonds in any subsequent time period. Such amounts payable to Company or such affiliate will bear interest at the same rate or rates as the TIF Bond.
TIF Revenue Shortfalls. Subject to Section 12(c), in the event of any Shortfall, such Shortfall shall accrue interest at the Bond Interest Rate notwithstanding whether, in the event of a Shortfall, Xxxxxxxx or an Andretti affiliate makes a payment on the Bonds.
TIF Revenue Shortfalls. In the event of any Shortfall, such Shortfall shall accrue interest at the Subordinate Bond Interest Rate notwithstanding whether, in the event of a Shortfall, Developer or a Developer affiliate makes a payment on the Subordinate Bonds.
