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 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

Examples of Government Development Bank for Puerto Rico in a sentence

  • Id. § 109(a).The first restructuring procedure is set forth in Chapter 2 of the Recovery Act and permits an eligible public corporation to seek debt relief from its creditors with authorization from the Government Development Bank for Puerto Rico (“GDB”).

  • The Municipality maintains its deposits in various commercial banks located in Puerto Rico and the Government Development Bank for Puerto Rico (GDB).

  • Deposits maintained at Government Development Bank for Puerto Rico (GDB) and Economic Development Bank for Puerto Rico (EDB) are exempt from the collateral requirements established by the Commonwealth and thus represent a custodial credit risk that in the event of GDBs or EDBs failure, the Authority may not be able to recover these deposits.

  • 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.

  • The Berkshire Bank and Government Development Bank for Puerto Rico v.

  • In addition, the Municipality maintains deposits with the Government Development Bank for Puerto Rico (GDB).

  • Finally, the DSE ex officio representative on the SILC cannot participate in any motion or vote of the SILC board.

  • The proceeds of this additional special tax are deposited in a sinking fund established at the Government Development Bank for Puerto Rico, fiscal agent, whereby sufficient funds are set aside to redeem the bonds payable of the Municipality in minimum annual and semiannual principal and interest payments.

  • The Berkshire Bank and The Government Development Bank for Puerto Rico.

  • The Bank is authorized to accept deposits and other types of borrowings from foreign persons, and as an exception under the IBC Act, from the Government Development Bank for Puerto Rico (GDB) and the Economic Development Bank of Puerto Rico (EDB).


More Definitions of Government Development Bank for Puerto Rico

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
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

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, 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;

  • District superintendent means the superintendent of a district or the chief administrator of a public school academy.

  • 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.

  • government procurement means the process by which a government obtains the use of or acquires goods or services, or any combination thereof, for governmental purposes and not with a view to commercial sale or resale, or use in the production or supply of goods or services for commercial sale or resale;

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

  • Professional development means training programs for

  • Urban Coordinating Council Empowerment Neighborhood means a neighborhood given priority access to State resources through the New Jersey Redevelopment Authority.

  • Local government officer means: (A) a member of the governing body of a local governmental entity; (B) a director, superintendent, administrator, president, or other person designated as the executive officer of a local governmental entity; or (C) an agent of a local governmental entity who exercises discretion in the planning, recommending, selecting, or contracting of a vendor. Texas Local Government Code 176.001(4).

  • district municipality means a municipality that has municipal executive and legislative authority in an area that includes more than one municipality, and which is described in section 155 (1) of the Constitution as a category C municipality;

  • Deputy Minister means the Deputy Minister of the Ministry.

  • Michigan economic development corporation means the public body corporate created under section 28 of article VII of the state constitution of 1963 and the urban cooperation act of 1967, 1967 (Ex Sess) PA 7, MCL 124.501 to 124.512, by a contractual interlocal agreement effective April 5, 1999, as amended, between local participating economic development corporations formed under the economic development corporations act, 1974 PA 338, MCL 125.1601 to 125.1636, and the Michigan strategic fund. If the Michigan economic development corporation is unable for any reason to perform its duties under this act, those duties may be exercised by the Michigan strategic fund.

  • municipal spatial development framework means a municipal spatial development framework adopted by the Municipality in terms of Chapter 5 of the Municipal Systems Act;

  • Clinical Development means the conduct of clinical trials in humans to assess the dosing, safety and/or efficacy of the Product, including but not limited to Phase I Clinical Trials, Phase II Clinical Trials, Phase Ill Clinical Trials and Phase IV Clinical Trials.

  • land development application means the application for a land development permit on a form provided by [local jurisdiction] along with the supporting documentation required in Section [Y]-10(a).

  • Development Officer means the Development Officer appointed by the Council of the Municipality.

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

  • Public safety officer means a member serving a public

  • District Evaluation Advisory Committee means a group created to oversee and guide the planning and implementation of the Board of Education's evaluation policies and procedures as set forth in N.J.A.C. 6A:10-2.3.

  • District coordinator means the state police emergency management division district coordinator.

  • Municipal Finance Management Act means the Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003);

  • 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;

  • Political committee means any committee, club, association, or other group of

  • 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.