City Covenant definition

City Covenant means the specific pledge and agreement that is authorized by § 2799-jj of the Act, made in Section 4.02 of the Agreement and recited in Section 701 hereof.
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Examples of City Covenant in a sentence

  • The rights and interests of the City under the City Covenant are not subordinated to the lien of the Bank Deed of Trust.

  • The City Covenant shall survive foreclosure of the Bank Deed of Trust and shall be binding upon any person who shall acquire the Property by means of such foreclosure or deed in lieu thereof, or who shall succeed to an interest in the Property so acquired, in each case for so long as such person shall retain an interest in the Property.

Related to City Covenant

  • Maintenance Covenant A covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) during each reporting period, that exists regardless of whether or not such borrower has taken any specified action and includes a covenant that applies only when the related loan is funded.

  • Incurrence Covenant A covenant by any borrower to comply with one or more financial covenants only upon the occurrence of certain actions of the borrower, including a debt issuance, dividend payment, share purchase, merger, acquisition or divestiture.

  • Previously Absent Financial Maintenance Covenant means, at any time, any financial maintenance covenant that is not included in the Loan Documents at such time.

  • Transfer fee covenant means a declaration or covenant purporting to affect real property which requires or purports to require the payment of a transfer fee to the declarant or other person specified in the covenant or declaration, or to their successors or assigns, upon a subsequent transfer of an interest in the real property.

  • Covenant Trigger Period means a period commencing on any day that Availability shall have been less than the greater of (a) 10% of the Line Cap and (b) $65,000,000 and continuing until Availability has been at least equal to the greater of (x) 10% of the Line Cap and (y) $65,000,000 for at least 30 consecutive days.