Authority Contribution Abatement Obligation definition

Authority Contribution Abatement Obligation means the obligation to pay to the County any amounts remaining in the Authority Bond Proceeds Subaccount after the Project Completion Date, solely to the extent that the total cost of construction, design, and development of the Project Improvements, as of the Project Completion Date, does not exceed $850,000,000 in the aggregate.
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Authority Contribution Abatement Obligation shall have the meaning set forth in the Construction Funds Trust Agreement.
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Examples of Authority Contribution Abatement Obligation in a sentence

  • In the event that, on the Project Completion Date, the Construction Monitor determines that any Authority Contribution Abatement Obligation is due and payable to the County, the Construction Monitor shall provide written notice thereof to the Trustee (with a copy to StadCo, the Authority, the County, the FinanceCo Agent, and Ventures).

  • Within one (1) Business Day after the Trustee’s receipt of written notice from the Construction Monitor that an Authority Contribution Abatement Obligation is due and payable to the County, the Trustee shall disburse the amount of such Authority Contribution Abatement Obligation to the County pursuant to the wire instructions set forth on Exhibit E, as may be modified by the County in writing from time to time.

  • Pursuant to this Agreement, the County is hereby granted a security interest in all sums held in the Authority Bond Proceeds Subaccount solely to secure (i) the Authority Contribution Abatement Obligation and, without duplication, (ii) the obligation set out in Section 3.2(f)(iii)(B)(1) of the Development Agreement.

Related to Authority Contribution Abatement Obligation

  • Interest Swap Obligations means the obligations of any Person pursuant to any arrangement with any other Person, whereby, directly or indirectly, such Person is entitled to receive from time to time periodic payments calculated by applying either a floating or a fixed rate of interest on a stated notional amount in exchange for periodic payments made by such other Person calculated by applying a fixed or a floating rate of interest on the same notional amount and shall include, without limitation, interest rate swaps, caps, floors, collars and similar agreements.

  • L/C Obligations means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

  • Secured Cash Management Obligations means Obligations under Secured Cash Management Agreements.