TIF Revenues. On or before each January 15 and July 15, commencing upon the first January 15 or July 15 after receipt of the TIF Revenues, the Trustee shall deposit to the Expenditure Agreement Fund all of the TIF Revenues, for the payment of the principal of the Expenditure Agreement on the immediately succeeding February 1 or August 1 (taking into consideration any amounts currently deposited therein) together with Trustee fees coming due within the next six (6) months. Any remaining TIF Revenues shall be applied by the Trustee as follows: (a) first, to pay any overdue principal and interest on outstanding Expenditure Agreement, with interest continuing to accrue on such overdue amounts at the stated rate on such Expenditure Agreement until paid, and (b) second, to redeem outstanding Expenditure Agreement in accordance with Section 5.1 hereof or to be held as additional reserves for payment of debt service on the Expenditure Agreement, as directed by the Foundation.
TIF Revenues. The Chief Financial Officer of the Issuer shall set aside immediately upon receipt the TIF Revenues into the Issuer's Allocation Fund as created by IC 36-7-14. On or before each January 15 and July 15 commencing with 15, 202 , the Issuer shall transfer from the Issuer's allocation funds referenced in this Section to the Trustee, all TIF Revenues received. The Trustee is hereby directed to deposit to the Bond Fund on each January 15 and July 15 all TIF Revenues received and shall use such amounts deposited to the Bond Fund in accordance with Section 4.2 hereof. Any amount of the TIF Revenues remaining after the deposits to the Bond Fund shall be used, without any further action or authorization, to optionally redeem, on such February 1 or August 1, the outstanding Bonds in accordance with Section 5.1 hereof.
TIF Revenues. Waupaca covenants that all incremental real property taxes, Differential Payments and personal property taxes generated by the Project shall be held by Waupaca in an interest-bearing, segregated revenue stabilization fund (the “Fund’). Waupaca’s obligations under this section will terminate at the same time as the termination of Presto’s obligations under this Agreement. Notwithstanding anything to the contrary in this Agreement, (a) if any TIF Revenues remain in the Fund any time a Differential Payment would otherwise be due under this Agreement, the amount of the Differential Payment due and owing shall be reduced by the withdrawal and application of the amount of such TIF Revenues remaining in the Fund, and (b) if Presto has made any Differential Payment under this Agreement for any tax year, and for any subsequent tax year (the “Subsequent Tax Year”) there remains TIF Revenues in the Fund, Waupaca shall reimburse Presto within 30 days after the end of the Subsequent Tax Year(s), in the amount of the Differential Payment made, but in no event more than the amount of TIF Revenues remaining in the Fund.
TIF Revenues. Waupaca covenants that all incremental real property taxes, Differential Payments, and personal property taxes generated by the Project shall be held by Waupaca in an interest- bearing, segregated revenue stabilization fund (the "Fund'). Waupaca's obligations under this section will terminate at the same time as the termination of XXXXXXXX PROPERTIES, LLC's obligations under this Agreement. Notwithstanding anything to the contrary in this Agreement, (a) if any TIF Revenues remain in the Fund any time a Differential Payment would otherwise be due under this Agreement, the amount of the Differential Payment due and owing shall be reduced by the withdrawal and application of the amount of such TIF Revenues remaining in the Fund, and (b) if XXXXXXXX PROPERTIES, LLC has made any Differential Payment under this Agreement for any tax year, and for any subsequent tax year (the "Subsequent Tax Year") there remains TIF Revenues in the Fund, Waupaca shall reimburse XXXXXXXX PROPERTIES, LLC within 30 days after the end of the Subsequent Tax Year(s), in the amount of the Differential Payment made, but in no event more than the amount of TIF Revenues remaining in the Fund.
TIF Revenues. TIF Revenues means the incremental real property tax revenues, that are collected in Xxxxxxxxxx Xxxx #0 and pledged to the payment ofthe EDC Bonds.
TIF Revenues. Waupaca covenants that all incremental real property taxes, Differential Payments and personal property taxes generated by the Project shall be held by Waupaca in an interest-bearing, segregated revenue stabilization fund (the “Fund’). Waupaca’s obligations under this section will terminate at the same time as the termination of Carousel’s obligations under this Agreement. Notwithstanding anything to the contrary in this Agreement, (a) if any TIF Revenues remain in the Fund any time a Differential Payment would otherwise be due under this Agreement, the amount of the Differential Payment due and owing shall be reduced by the withdrawal and application of the amount of such TIF Revenues remaining in the Fund, and
