CID Proceeds definition

CID Proceeds means the $1,500,000 of net bond proceeds available to Developer for payment or reimbursement of CID Costs from the CID Bonds.
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CID Proceeds means, collectively, the proceeds from CID Bonds for ▇▇▇ ▇▇▇▇▇▇▇▇ ▇ ▇▇▇/▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇ ▇, along with the Pay-As-You-Go CID Financing, if any.
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CID Proceeds means the proceeds of the CID Sales Tax in the CID Fund used to pay or reimburse Developer for CID Eligible Expenses, as described in Section 4.4(b).
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Examples of CID Proceeds in a sentence

  • The parties hereby understand and agree that the approximated net proceeds amounts set forth for Phase 1 and Phase 2 above are not intended by the parties to operate as a limitation on the CID Proceeds that Developer may receive hereunder; however, that the parties agree that in no event shall more than a $30,000,000 principal amount of CID Bonds be issued in connection with the Project.

  • Developer hereby understands and agrees that CID Proceeds from the CID Bonds for CID District 2 may not be spent for any Phase 1 CID Project Costs.

  • Developer shall also identify any such Project Costs paid for by Developer that were subsequently reimbursed with STAR Bond Proceeds or CID Proceeds.

  • Developer shall certify to the UG that it shall only use the CID Proceeds for the CID Eligible Expenses described in the Certificate of Expenditures.

  • For purposes of illustrative example only, if the Project Budget for Phase 1 shows an estimated $160,750,000 of Project Costs, $48,500,000 of which are to paid with STAR Bonds, $12,500,000 of which are to be paid with CID Proceeds and $99,750,000 of which are to be paid with Private Funds (as defined below), then the percentage allocations (the "Percentage Allocations") for purposes of this provision shall be (i) 38% from Public Financing Proceeds, and (ii) 62% from Private Funds.

  • Developer shall secure and provide evidence of immediately available private funds which, when added to the TIF Proceeds (defined below in Section 4.2(a)(iii)), the CID Proceeds (defined below in Section 4.4(b) and the benefits of the IRBs (defined below in Section 4.11), are sufficient to complete the Improvements.

  • The parties hereby understand and agree that the process to approve Certificate(s) of Expenditures and properly disburse the UG Contribution and CID Proceeds is important to the UG and Developer for various reasons.

  • During the existence of the CID, all CID Proceeds generated within the CID shall be deposited into a separate fund (the "CID Fund"), established and administered by the UG in compliance with this Agreement and all Applicable Laws and Requirements.

  • The CID Cap shall, for all purposes set forth herein, operate as a cap on the use of CID Proceeds for reimbursement of any and all CID Eligible Expenses.

  • If Developer does not complete the Retail Space and receive a certificate of occupancy for the Retail Space described in Section 2.2(b) above by the Completion Date (as defined herein) , the UG shall have the right to unilaterally terminate the CID and Developer shall have no further rights to the CID, the CID Sales Tax or the CID Proceeds described in this Section 4.4.