Examples of Administrative Share in a sentence
Metro will have no obligation to disburse any remaining portion of LIP’s Eligible Share or Administrative Share after the expiration of the Term.
All Bond Proceeds disbursed to LIP pursuant to this Agreement (including both the Eligible Share and the Administrative Share) are derived from the sale of voter-approved general obligation bonds that are to be repaid using ad valorem property taxes exempt from the limitations of Article XI, sections 11 and 11b of the Oregon Constitution.
Subject to the terms and conditions of this Agreement, and the requirements and restrictions set forth in both the Work Plan and the Bond Measure, Metro will provide LIP the Administrative Share.
Interest earnings on the Administrative Share while held by LIP may be retained by LIP, provided such interest is used for affordable housing, residential services, or supportive services for residents of affordable housing.
On an annual basis, beginning , 2019, Metro will disburse to LIP its Administrative Share in accordance with the schedule set forth on Exhibit attached to this Agreement.
Within thirty (30) days of the Effective Date, Metro will disburse to LIP its Administrative Share in accordance with the schedule set forth on Exhibit B attached to this Agreement.
On or before September 15 of each year during the Term, LIP will provide an annual report to Metro containing (a) an itemized list of LIP’s expenditure of its Administrative Share (and any investment earnings thereon) through the end of the prior fiscal year detailing each entity LIP paid any portion of the Administrative Share and (b) a certification from LIP to Metro that the Administrative Share was used only to pay for or Capital Costs.
The Share Capital of the Company comprises 113,000,000 Ordinary Preference Shares of no par value and one Subordinated Administrative Share of no par value.
Metro’s obligation to distribute the Administrative Share is conditioned on LIP making reasonable progress towards its Unit Production Targets, as reasonably determined by Metro in accordance with the timeline set forth on the attached Exhibit .
On or before of each year during the Term, LIP will provide an annual report to Metro containing (a) an itemized list of LIP’s expenditure of its Administrative Share (and any investment earnings thereon) through the end of the prior fiscal year detailing each entity LIP paid any portion of the Administrative Share and (b) a certification from LIP to Metro that the Administrative Share was used only to pay for or Capital Costs.