Examples of Base Rental Payments in a sentence
The Authority hereby appoints and employs the Trustee to receive, deposit and disburse the Base Rental Payments and the other Lease Revenues, to authenticate, deliver and transfer the Bonds and to perform the other functions contained herein and in the other Financing Documents to which it is a party, all in the manner provided herein and therein and subject to the conditions and terms hereof and thereof.
The Trustee, on the redemption date specified in the Written Request of the City filed with the Trustee at the time that any prepaid Base Rental Payment is paid to the Trustee pursuant to the Lease Agreement, shall deposit in the Redemption Account that amount of moneys representing the portion of the Base Rental Payments designated as prepaid Base Rental Payments.
Except as expressly provided herein, the Trustee shall not have any obligation or liability to the Owners with respect to the payment when due of the Base Rental Payments by the City, or with respect to the performance by the Authority or the City of the other agreements and covenants required to be performed by them contained in the Lease Agreement, the Ground Lease or herein.
The Trustee will keep proper accounting records in which complete and correct entries shall be made of all transactions relating to the receipt, deposit and disbursement of the Base Rental Payments and other Lease Revenues, and such accounting records shall be available for inspection by the Authority and the City at reasonable hours and under reasonable conditions.
The City will take such action as shall be necessary to cause the Manager to include all Rental Payments (including Base Rental Payments) coming due in each Fiscal Year in the Annual Budget (as defined in the Management Agreement) for such Fiscal Year in accordance with Section 10 of the Management Agreement.