Volume Cap Sample Clauses

Volume Cap. The Authority and the Company represent that the Bond is subject to the private activity bond volume cap requirements of Section 146 of the Code. The Lieutenant Governor of the State of Washington has confirmed allocation of the 1997 private activity volume cap in the amount of $1,500,000.00 for the Project.
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Volume Cap. The Issuer has a carryforward of Arkansas state volume cap from the 2018 calendar year, plus Arkansas state volume cap from the 2019 calendar year in an amount equal to or greater than the aggregate principal amount of the portion of the Series 2019 Bonds for which an allocation of Arkansas state volume cap is required pursuant to the Code.
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Volume Cap. Pursuant to IRS Notice 2011 63, the Governmental Lender and the Borrower hereby elect to treat all of the Governmental Lender Note as issued on the Closing Date for purposes of Section 146 ofthe Code. Absent an Opinion of Counsel, no amount will be drawn on the Governmental Lender Note after December 31, 2014.
Sample 1
Volume Cap. An allocation of volume cap is required concerning the Issue under Section 146 of the Code. The Issuer represents that $8,954,309 of the volume cap of the District of Columbia has been allocated to the Issue. This allocation is being made out of the carryforward volume cap allocations from 2010, which is shown on the Form 8328 (Carry Forward of Unused Election Private Activity Bond Volume Cap) filed for the Issuer. The Issuer has provided Bond Counsel with the certification by a District of Columbia official designated by District of Columbia law that the Issue satisfies Section 146 of the Code. The Issuer hereby elects to treat the entire amount of the Issue as being issued on the Issuance Date of the Issue for purposes of the Section 146 of the Code. The Issuer and the Borrower represent and covenant that all amounts available to be drawn down under the Bonds will be drawn down no later than December 31, 2016. To the best of the Issuer’s knowledge, such allocations have not been withdrawn, amended, revoked or suspended and remain in use full force and effect.
Sample 1
Volume Cap. In connection with any issuance of bonds, the Borrower will ensure that the Issuer has unexpired and unused allocation of private activity bond ceiling under section 146 of the Code in an amount sufficient to cover that bond issue.
Sample 1
Volume Cap. For the volume cap sensitivity analysis, all GYPSY forecasts exceeding 600 m3/xx xxxxx merchantable volume (based on all species combined) were removed from the yield group average NSYTs. The intent of this sensitivity analysis was to eliminate the potential for unreasonably high volume projections.
Sample 1
Volume Cap. The Issuer represents that the Issuer has obtained an allocation of Arizona volume cap available under Section 146 of the Code, valid under applicable Arizona law, greater than or equal to the issue price of the Bonds, which the Issuer has irrevocably allocated to the Bonds. Evidence of this allocation is contained in item 2.1 of the transcript for the issuance of the Bonds.
Sample 1
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Related to Volume Cap

  • CONTRACT YEAR A twelve (12) month period during the term of the Agreement commencing on the Effective Date and each anniversary thereof.

  • Minimum Sales 4.1 The minimum volume of sales of the Products that CSR commits to use its best efforts to achieve in the Territory on an annual basis in the first Agreement Year is 60,000 gallons (avg. 5,000 gallons per month). RCAI will review the annual volumes of sales of the Products prior to the beginning of any successive term during which this Agreement may continue and RCAI may change and adjust such minimums as it, in its sole judgment, sees fit.

  • Minimum Revenue Borrower and its Subsidiaries shall have annual Revenue from sales of the Product (for each respective calendar year, the “Minimum Required Revenue”):

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution.

  • Minimum Purchase Broker-Dealer shall not sell fewer than $5,000 in Notes to any purchaser without the prior written consent of Issuer.

  • Annual Percentage Rate Each Receivable has an APR of not more than 25.00%.

  • Minimum Purchase Requirements Distributor shall make the minimum annual purchase of Products established in Exhibit B, unless the Agreement has become coexclusive. In the period within the fixed term and extension, if applicable, of the Agreement under Section 10(a) subsequent to [ * ], the parties shall meet in San Francisco at least [ * ] prior to the beginning of each of respective year to discuss market conditions and appropriate minimum purchases for such year. In the event that the parties fail to agree on an appropriate minimum any year subsequent to [ * ], the minimum annual purchase requirement for such year shall be calculated increasing or decreasing (as the case may be) the minimum purchase requirement for the preceding year in proportion to the increase or decrease in the [ * ] (based on data from mutually acceptable data provider) of the applicable product in the Territory. In the event Supplier is unable to deliver Products ordered by Distributor in an amount consistent with the most recent forecast, then the minimum annual purchase requirement shall be reduced by the quantity of Products that Supplier is unable to deliver when requested. In the event Distributor fails in any year (a “Shortfall Year”) to make the annual minimum purchase of Agreement Products required by Exhibit B, Supplier shall have the right to give Distributor written notice of default, and if such failure to make the minimum purchase is not cured (through the purchase of an amount of Agreement Product equal to the entire shortfall in the Shortfall Year, which amount shall not be counted towards any minimum purchase requirements for the year of purchase) within [ * ] of receipt of the notice, then Supplier shall have the right, in Supplier’s sole discretion and as Supplier’s sole remedy for Distributor’s failure to meet the minimum purchase requirements hereunder, either to convert the appointment of Distributor from exclusive to non-exclusive or to terminate this Agreement. In the event of either conversion to non-exclusive or termination of this Agreement pursuant to this Section 3(e), the Supplier shall pay Distributor a conversion fee equal to [ * ], and Distributor shall transfer all Regulatory Approvals relating to BMS or DES in the Territory to Supplier.

  • Minimum Monthly Rent Tenant shall pay minimum monthly rent (“Minimum Monthly Rent”) in the initial amount stated in Section 1.5, which amount shall be subject to increase as provided in Sections 1.5 and 4.3. Tenant shall pay the Minimum Monthly Rent on or before the first day of each calendar month, in advance, at the office of Landlord or at such other place designated by Landlord, without deduction, offset or prior demand. If the Commencement Date is not the first day of a calendar month, the rent for the partial month at the beginning of the Lease Term shall be prorated on a per diem basis and shall be due on the first day of such partial month. Upon execution of this Lease, Tenant shall pay the first month’s Minimum Monthly Rent to Landlord.

  • Maximum or Minimum Interest Rate If specified on the face hereof, this Note may have either or both of a Maximum Interest Rate or a Minimum Interest Rate. If a Maximum Interest Rate is so designated, the interest rate for a Floating Rate Note cannot ever exceed such Maximum Interest Rate and in the event that the interest rate on any Interest Reset Date would exceed such Maximum Interest Rate (as if no Maximum Interest Rate were in effect) then the interest rate on such Interest Reset Date shall be the Maximum Interest Rate. If a Minimum Interest Rate is so designated, the interest rate for a Floating Rate Note cannot ever be less than such Minimum Interest Rate and in the event that the interest rate on any Interest Reset Date would be less than such Minimum Interest Rate (as if no Minimum Interest Rate were in effect) then the interest rate on such Interest Reset Date shall be the Minimum Interest Rate. Notwithstanding anything to the contrary contained herein, the interest rate on a Floating Rate Note shall not exceed the maximum interest rate permitted by applicable law.

  • Maximum Charges In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.

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