Examples of District Bond Trustee in a sentence
Except for the District Bond Trustee for any District Bonds, direct lenders to the District that have been assigned rights hereunder in accordance with Section 22, or any provider of credit enhancement for the District Bonds, this Agreement is not intended and shall not be deemed to confer any rights on any person or entity not named as a Party to this Agreement.
All moneys on deposit in the Special Fund, and any other Pledged Property Tax Increment Revenues or Pledged Sales Tax Increment Revenues received by the Authority, will be remitted to the District Bond Trustee in accordance with the terms and provisions of the District Bond Indenture so long as any District Bonds remain outstanding.
The District covenants to deposit any Add-On PIF Revenues released from the lien of the District Bond Documents and remitted by the District Bond Trustee to the District pursuant to Section 3.2 hereof into the Foothills Mall Fund.
So long as the District Bonds are outstanding, the Developer covenants to cause all Add-On PIF Revenues to be remitted to the District Bond Trustee and such Add-On PIF Revenues shall be pledged to the payment of the District Bonds.
Each payment request will be submitted to the applicable District representative and the District Bond Trustee for review within ten (10) business days.
Upon the earlier of approval of such documentation or expiration of the ten (10) business day period, the District Bond Trustee will make payments of Eligible Costs as set forth in such requisition request from moneys on deposit in the Project Fund.
Accordingly, the Authority’s obligation to remit the Authority Pledged Revenue to the District Bond Trustee in accordance with the provisions of this agreement does not require electoral authorization and is not subject to annual appropriation.
The District further covenants that so long as any District Bonds remain outstanding, that the District will remit all District Pledged Revenues to the District Bond Trustee for such outstanding District Bonds.
Notwithstanding the foregoing, the Town shall not remit any Pledged Tax Revenue to the Bond Trustee beyond the period the duration of the Sales Tax Credit within the Phase the Target is located as provided in Section 5.2. The District Bond Documents shall provide that any such Pledged Tax Revenue so remitted by the Town to the District Bond Trustee shall be pledged to the payment of the District Bond Requirements.
The District further covenants that so long as any District Bonds remain outstanding, that the District will remit all District Specific Ownership Taxes to the District Bond Trustee for such outstanding District Bonds.