Use of Revenues. Unless otherwise applied by Lender pursuant to any Loan Document, the Borrower shall, and shall cause each Portfolio Entity to, apply any Revenues in the order and manner provided for in Article IX.
Use of Revenues. CONTRACTOR shall use such revenues to pay the expenses of operating the Center in accordance with this Agreement. For purposes of this paragraph, “expenses" shall include employee salaries and benefits and all other expenses of operating/programming the Center. CONTRACTOR agrees that on an annual basis it will provide a report to the City detailing all such revenues and expenses of the Center. Any revenues in excess of those needed to operate the Center shall be used to purchase needed items for the facility or placed in a reserve account to offset future operating expenses. CONTRACTOR shall have the right to conduct special fundraising and seek to thereby obtain revenues over and above revenues derived from the operation of the Center for the purpose of creating and maintaining endowment funds, which shall be and remain the property of CONTRACTOR or the CONTRACTOR Charitable Trust.
Use of Revenues. Revenues from activities en- gaged in by the Corporation shall be used for the oper- ation and administration of the Center.
Use of Revenues. Each Relevant Obligor shall (and the Company shall ensure that each member of the Group will) ensure that all of its funds, Revenues and all other amounts received by it are utilised, and all of its accounts are established and funded (and any other accounts maintained by it are closed), in accordance with the provisions of Schedule 7 (Accounts) and as otherwise provided by this Agreement and that it otherwise complies with Schedule 7 (Accounts).
Use of Revenues. CCAEF shall use such revenues to pay the expenses of operating the Center in accordance with this Agreement. For purposes of this paragraph, “expenses" shall include employee salaries and benefits and all other expenses of operating/programming the Center. CCAEF agrees that on an annual basis it will provide a report to the City detailing all such revenues and expenses of the Center. Any revenues in excess of those needed to operate the Center shall be used to purchase needed items for the facility or placed in a reserve account to offset future operating expenses. CCAEF shall have the right to conduct special fundraising and seek to thereby obtain revenues over and above revenues derived from the operation of the Center for the purpose of creating and maintaining endowment funds, which shall be and remain the property of CCAEF or the CCAEF Charitable Trust.
Use of Revenues. All revenues due to each Party shall be as provided by Paragraph 6.4 of the Service Area Agreement.
Use of Revenues. A. CITY shall account for revenues received in connection with third-party use of Play Fields. Those revenues shall be used in the following priority:
1. Regular maintenance and rental administration (estimated at approximately $75,000 per year) by CITY;
2. Improvements to the Play Fields identified by mutual agreement of the DISTRICT and CITY representatives with a cost not to exceed $10,000 per year;
3. Reimbursement to DISTRICT of $40,000 per year to offset revenue no longer received from user groups; and
4. Any additional revenues shall be split equally between DISTRICT and CITY. CITY shall provide DISTRICT an annual report documenting revenues and expenses in connection with administration of this Agreement together with payment for amounts due as set forth above. The report and payment shall be submitted to District’s Representative no later than one month after the close of the annual reporting period (October 1). Fee adjustments, if any, shall be documented in the annual report from the CITY. The provisions of this section survive termination or expiration of this Agreement.
Use of Revenues. The XXXX revenues received by the Town pursuant to this Restrictive Covenant shall be used in furtherance of the Town's mission to provide access to attainable housing.
Use of Revenues. Revenues (other than additional rent described in ¶ 2(b) above) are to be applied in the following order until exhausted:
a. pay bond debt expense
b. restore any deficiency in the debt service reserve fund
c. reimburse the Fair Board, Authority, or Metro for any bond debt expense paid from any source other than rent, the CVC payment, or sales and ticket taxes collected at the facility
d. pay additional guaranteed rent to the Fair Board in an amount not to exceed the additional rent described in ¶ 2(b) above e. pay the Authority and Bristol, pro rata based on amounts expended, of unreimbursed project costs
f. pay the Authority any remaining sales or ticket taxes collected at the facility g. split any remaining rent or CVC use payment funds 75% to Bristol and 25% to the Fair Board
Use of Revenues. A. CITY shall account for revenues received in connection with third-party use of Play Fields. Those revenues shall be used in the following priority:
1. Regular maintenance and rental administration (estimated at approximately $75,000 per year) by CITY;
2. Improvements to the Play Fields identified by mutual agreement of the DISTRICT and CITY representatives with a cost not to exceed $10,000 per year;
3. Reimbursement to DISTRICT of $45,000 per year to offset revenue no longer received from user groups; and
4. Any additional revenues shall be split equally between DISTRICT and CITY. CITY shall provide DISTRICT an annual report documenting revenues and expenses in connection with administration of this Agreement together with payment for amounts due as set forth above. The report and payment shall be submitted to District’s Representative no later than one month after the close of the annual reporting period (October 1). The amounts of the revenue allocations described above shall be adjusted annually to reflect increases in the Consumer Price Index for All Urban Consumers, San Francisco, for all items, 1982-84=100 (the CPI-U), published by the United States Department of Labor on its website at xxxx://xxx.xxx.xxx/cpi. This adjustment shall be documented in the annual report from CITY. The provisions of this section survive termination or expiration of this Agreement.
