Government Development Bank for Puerto Rico definition

Government Development Bank for Puerto Rico has been so furnished to the Borrower and the Guarantor by the Authority specifically for use therein). The obligations of the Borrower and the Guarantor under this Section 4.05 shall apply to all Losses or Claims, or both, that result from, arise out of, or are related to any event, occurrence, condition or relationship existing prior to termination of this Agreement, whether such Losses or Claims, or both, are asserted prior to termination of this Agreement or thereafter. The Authority shall reimburse the Borrower or the Guarantor, as applicable, for payments made by the Borrower or the Guarantor pursuant to this Section 4.05 to the extent of any proceeds, net of all expenses of collection, actually received by the Authority from any insurance covering such Claims with respect to the Losses sustained. The Authority shall have the duty to claim any such insurance proceeds and the Authority shall assign its rights to such proceeds, to the extent of such required reimbursement, to the Borrower. In case any action shall be brought against the Authority in respect of which indemnity may be sought against the Borrower and the Guarantor, the Authority shall promptly notify the Borrower and the Guarantor in writing and the Borrower and the Guarantor shall have the right to assume the investigation and defense thereof including the employment of counsel and the payment of all expenses. The Authority shall have the right to employ separate counsel in any such action and participate in the investigation and defense thereof, but the fees and expenses of such counsel shall be paid by the Authority unless the employment of such counsel has been authorized by the Borrower or the Guarantor. The Borrower and the Guarantor shall not be liable for any settlement of any such action without the written consent of the Borrower or the Guarantor but, if any such action is settled with the written consent of the Borrower or the Guarantor or if there be a final unappealable judgment for the plaintiff in any such action, the Borrower and the Guarantor agree to indemnify and hold harmless the Authority from and against any such Losses or Claims by reason of such settlement or judgment. Nothing herein shall be construed as requiring the Authority to acquire or maintain insurance of any form or nature with respect to the Project or any portion thereof or with respect to any phrase, term, provision, condition or obligation of this Agreement or any other matter in connection herewith s...
Sample 1Sample 2
Government Development Bank for Puerto Rico and "Legal Investment" does not contain any untrue or misleading statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they are made, not
Sample 1
Government Development Bank for Puerto Rico and "LEGAL INVESTMENT" constitutes the only information furnished in writing by or on behalf of the Authority specifically for use in the Official Statement and Prospectus.
Sample 1

Examples of Government Development Bank for Puerto Rico in a sentence

  • All notices under this Agreement shall be addressed as follows: If to the Authority: Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority c/o Government Development Bank for Puerto Rico PO Bxx 00000 Xxx Xxxx, Xxxxxx Xxxx 00940 Attention: Executive Director If to the Borrower: Doral Properties, Inc.

  • All notices under this Agreement shall be addressed as follows: If to the Authority: Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority c/o Government Development Bank for Puerto Rico PX Xxx 00000 Xxx Xxxx, Xxxxxx Rico 00940 Attention: Executive Director If to the Borrower: Palmas Country Club, Inc.

  • The Company shall make or cause to be made each payment hereunder not later than 2:00 P.M. (Puerto Rico time) on the day when due, in Dollars and in immediately available funds, to TDF at Citibank, N.A., New York, New York, ABA #000000000, for further credit to the account of Government Development Bank for Puerto Rico, Account #30000000, for credit to Puerto Rico Tourism Development Fund, Account #250-00416, or at such other place as TDF may from time to time designate in a notice to the Company.

  • DFC Group further wishes to participate in the Puerto Rico Development Fund Loan Guaranty Program established by the Government Development Bank for Puerto Rico (GDB) to provide further economic stimulus to the economy and the people of Puerto Rico, for which additional capital is also required.

  • If to PRMSA: Puerto Rico Maritime Shipping Authority c/o Government Development Bank for Puerto Rico 4th Floor, Minillas Xxxxxxxxxx Xxxxxx Xxxxxxxx, Xxxxxx Xxxx 00000-0000 Attention: Xxxxxx Xxxxxxxxx-Ema, President With copies to: Akin, Gump, Strauss, Xxxxx & Xxxx, L.L.P. 0000 Xxx Xxxxxxxxx Xxxxxx, X.X. Xxxxx 000 Xxxxxxxxxx, X.X. 00000 Attention: Xxxxx X.

  • The Finance Board, which is a part of the Office of the Commissioner, but also includes as its members the Secretary of the Treasury, the Secretary of Commerce, the Secretary of Consumer Affairs, the President of the Planning Board, and the President of the Government Development Bank for Puerto Rico, has the authority to regulate the maximum interest rates and finance charges that may be charged on loans to individuals and unincorporated businesses in the Commonwealth.

  • Aggregate maturities of long-term debt at December 31, 1996, are as follows: Years Amount -------------------------------- 1997 $15,401,050 1998 800,000 1999 11,423,200 2000 800,000 2001 and thereafter 54,000,000 ----------- $82,424,250 =========== In September 1985, the Company restructured the terms of all of its outstanding debt with the Government Development Bank for Puerto Rico (GDB).

  • Additionally, the Companies have a term loan agreement with the Government Development Bank for Puerto Rico (GDB).

  • Aggregate maturities of long-term debt at December 31, 1997, are as follows: Years Amount -------------------------------------------------- 1998 $ 1,109,781 1999 1,005,000 2000 1,005,000 2001 2,169,792 2002 and thereafter 72,000,000 -------------------------------------------------- $77,289,573 ================================================== In September 1985, the Company restructured the terms of all of its outstanding debt with the Government Development Bank for Puerto Rico ("GDB").

  • The statements set forth in the Official Statement and Prospectus under the headings "AFICA" and "Government Development Bank for Puerto Rico" constitute the only information furnished in writing by the Authority to the Partnership in connection with the preparation of the Official Statement and Prospectus.


More Definitions of Government Development Bank for Puerto Rico

Government Development Bank for Puerto Rico. Tax Consequences" (other than matters relating to, and representations, warranties and covenants made by, the Borrower), "Legal Investment," "Underwriting," "Legal Matters," matters relating to DTC<180>s book entry transfer system, as well as summaries of the aforementioned information contained under the heading "Summary" or on the cover page of the Preliminary Official Statement and the Official Statement.
Sample 1
Government Development Bank for Puerto Rico. Tax Consequences" (other than matters relating to, and representations, warranties and covenants made by, the Borrower), "Legal Investment,"
Sample 1
Government Development Bank for Puerto Rico has been so furnished to the Borrower and the Guarantor by the Authority specifically for use therein). The obligations of the Borrower and the Guarantor under this Section 4.05 shall apply to all Losses or Claims, or both, that result from, arise out of, or are related to any event, occurrence, condition or relationship existing prior to termination of this Agreement, whether such Losses or Claims, or both, are asserted prior to termination of this Agreement or thereafter. The Authority shall reimburse the Borrower or the Guarantor, as applicable, for payments made by the Borrower or the Guarantor pursuant to this Section 4.05 to the extent of any proceeds, net of all expenses of collection, actually received by the Authority from any insurance covering such Claims with respect to the Losses sustained. The Authority shall have the duty to claim any such insurance proceeds and the Authority shall assign its rights to such proceeds, to the extent of such required reimbursement, to the Borrower. In case any action shall be brought against the Authority in respect of which indemnity may be sought against the Borrower and the Guarantor, the Authority shall promptly notify the Borrower and the Guarantor in writing and the Borrower and the Guarantor shall have the right to assume the investigation and defense thereof including the employment of counsel and the payment of all expenses. The Authority shall have the right to employ separate counsel in any such action and participate in the
Sample 1

Related to Government Development Bank for Puerto Rico

  • Commercial Development means any development on private land that is not heavy industrial or residential. The category includes, but is not limited to: hospitals, laboratories and other medical facilities, educational institutions, recreational facilities, plant nurseries, multi-apartment buildings, car wash facilities, mini-malls and other business complexes, shopping malls, hotels, office buildings, public warehouses and other light industrial complexes.

  • government department means any department of the Government of the United Kingdom;

  • Research and development means (1) theoretical analysis, exploration, or experimentation; or (2) the extension of investigative findings and theories of a scientific or technical nature into practical application for experimental and demonstration purposes, including the experimental production and testing of models, devices, equipment, materials, and processes. Research and development does not include the internal or external administration of radiation or radioactive material to human beings.

  • Commercial Development Plan means the written commercialization plan attached as Appendix E.

  • Deputy Minister means the Deputy Minister of the Ministry.

  • Government Office means any office of the Federal Government that has possession or control of assassination records, including—

  • Land development means the erection of buildings or structures on land, or the change of use of land, including township establishment, the subdivision or consolidation of land or any deviation from the land use or uses permitted in terms of an applicable land use scheme;

  • Information Commissioner means the UK Information Commissioner and any successor;

  • Research and development facility means an establishment engaged in laboratory, scientific, or experimental testing and development related to new products, new uses for existing products, or improving existing products. The term does not include an establishment engaged in efficiency surveys, management studies, consumer surveys, economic surveys, advertising, promotion, banking, or research in connection with literary, historical, or similar projects.

  • Government Body means any domestic or foreign federal, state, municipal or other governmental department, commission, board, bureau, agency or instrumentality, or other body exercising or entitled to exercise any administrative, executive, judicial, legislative, police, regulatory or taxing authority or power of any nature.