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.
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.
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.
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.
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.
Each payment request will be submitted to the applicable District representative and the District Bond Trustee for review within ten (10) business days.
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.
To the extent that the Sales Taxes received by the Town from the Target in the Project in any full calendar year exceed the Baseline Tax Revenue (the “Incremental Sales Tax”) and to the extent that there are District Bonds outstanding, the Town shall thereafter, subject to annual appropriation, remit Incremental Sales Tax received from the Town’s 1.10% Sales Tax on Taxable Sales to the District Bond Trustee (“Pledged Tax Revenue”).
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.