Timing and Basis for Availability Payments Sample Clauses

Timing and Basis for Availability Payments. 11.1.1 Upon Substantial Completion of the Project, the Department will begin making Availability Payments to Developer as provided in this Article 11. Developer is not entitled to earn any Availability Payments before the Early Completion Date. 11.1.2 The Availability Payments are based on the Project being open and available for public travel as measured through Developer’s conformance with the Contract Documents, including the minimum operating and maintenance requirements set forth in [Section of Division ].
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Timing and Basis for Availability Payments. ‌ 11.1.1 The right to Availability Payments shall commence upon Substantial Completion of the Project. The Department will begin making Availability Payments to Developer as provided in this Article 11. 11.1.2 The Availability Payments are based on the Project being open and available for public travel as measured through Developer’s conformance with the Contract Documents, including the minimum operating and maintenance requirements set forth in Section 4 of Division II.
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Timing and Basis for Availability Payments. ‌ 10.2.1.1 IFA shall pay Availability Payments to Developer as provided in this Section 10.2. The obligation of IFA to pay the Availability Payments to Developer shall commence upon the Substantial Completion Date. a. The obligation of IFA to make Availability Payments following the Substantial Completion Date is based on, and is subject to, the O&M Limits being open and available for public travel as measured through Developer’s compliance with the PPA Documents. b. IFA has entered into the Use Agreement with the Department, pursuant to which the Department will agree to make payments to IFA in an amount equal to the Availability Payments and certain other amounts owed by IFA under this Agreement. The Availability Payments are limited obligations of IFA, payable solely from funds payable by the Department as provided in the Use Agreement or as appropriated by the General Assembly to IFA for this purpose as described herein for that purpose. The obligation of IFA to make Availability Payments does not constitute an indebtedness of the State or any political subdivision thereof within the meaning or application of any constitutional provision or limitation. The obligation of IFA to make Availability Payments does not constitute a pledge of the faith, credit or taxing power of the State or any political subdivision thereof within the meaning or application of any constitutional provision or limitation. IFA has no taxing power. Developer has no right to have taxes levied or to compel appropriations by the General Assembly for any payment of the Availability Payments. c. In the Use Agreement, the Department covenants that it will do all things lawfully within its power to obtain and maintain funds from which to meet its payment obligations to IFA under the Use Agreement, including, but not limited to, requesting an appropriation in an amount sufficient to meet its payment obligations to IFA under the Use Agreement in writing submitted to the General Assembly at a time sufficiently in advance of the date for payment thereof so that an appropriation may be made in the normal State budgetary process, using its bona fide best efforts to have such request approved, and exhausting all available reviews and appeals if such request is not approved. In addition, IFA hereby covenants that it will do all things lawfully within its power to obtain and maintain funds from which to meet its Availability Payment obligations to Developer under this Agreement, including, but n...
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Related to Timing and Basis for Availability Payments

  • Minimum Availability Borrower shall have minimum availability immediately following the initial funding in the amount set forth on the Schedule.

  • FUNDING AVAILABILITY This Contract is contingent upon the continued availability of funding. If funds become unavailable through the lack of appropriations, legislative or executive budget cuts, amendment of the Appropriations Act, state agency consolidation or any other disruptions of current appropriations, DFPS will reduce or terminate this Contract.

  • Closing Availability After giving effect to all Borrowings to be made on the Effective Date, the issuance of any Letters of Credit on the Effective Date and the payment of all fees and expenses due hereunder, and with all of the Loan Parties’ Indebtedness, liabilities, and obligations current, Availability shall not be less than $20,000,000.

  • Availability of Earnings Statements The Company shall make generally available to holders of its securities as soon as may be practicable but in no event later than the last day of the fifteenth (15th) full calendar month following the calendar quarter in which the most recent effective date occurs in accordance with Rule 158 of the Rules and Regulations, an earnings statement (which need not be audited but shall be in reasonable detail) for a period of twelve (12) months ended commencing after the effective date, and satisfying the provisions of Section 11(a) of the Act (including Rule 158 of the Rules and Regulations).

  • Excess Availability Borrowers shall have Excess Availability at all times of at least (i) as of any date of determination during the period from July 25, 2016 through and including August 29, 2016, $10,000,000, (ii) as of any date of determination during the period from August 30, 2016 through and including October 17, 2016, $13,000,000, (iii) as of any date of determination during the period from October 18, 2016 through and including October 31, 2016, $17,500,000, and (iv) as of any date of determination during the period from November 1, 2016 through and including December 31, 2016, $20,000,000.

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

  • Service Availability You understand that Service availability is at all times conditioned upon the corresponding operation and availability of the communication systems used in communicating your instructions and requests to the Credit Union. We will not be liable or have any responsibility of any kind for any loss or damage thereby incurred by you in the event of any failure or interruption of such communication systems or services resulting from the act or omission of any third party, or from any other cause not reasonably within the control of the Credit Union.

  • RDDS availability Refers to the ability of all the RDDS services for the TLD, to respond to queries from an Internet user with appropriate data from the relevant Registry System. If 51% or more of the RDDS testing probes see any of the RDDS services as unavailable during a given time, the RDDS will be considered unavailable.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • System Availability Although we will try to provide continuous access to the Service, we cannot and do not guarantee that the Service will be available 100% of the time and will not be liable in the event Service is unavailable. Actual service or network performance is dependent on a variety of factors outside of our control. If you notify us within twenty-four (24) hours and we confirm an outage consisting of a period of two (2) hours in any calendar month, and not due to any service, act, or omission of you, a third party, your applications, equipment or facilities, or reasons outside of our control, you shall be eligible for a service credit. A service credit shall be computed as a pro-rated charge for one day of the regular monthly fees for the Service in the next monthly statement. Intermittent service outages for periods of less than two (2) hours are not considered service outages. Outages caused by routine scheduled maintenance are also not considered an outage. You shall receive advance notice no less than forty-eight (48) hours in advance of our scheduled maintenance. Scheduled maintenance will be performed between 12:00 a.m. and 6:00 a.m. CST.

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