Grant Receipts definition

Grant Receipts means any money received by or on behalf of the City under or pursuant to a Grant Agreement as or on account of a grant or contribution, heretofore or hereafter made, in aid of or with respect to any Project.

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Grant Receipts means any money received by or on behalf of the Authority under or pursuant to a Grant Agreement as or on account of a grant or contribution, heretofore or hereafter made, in aid of or with respect to any Project (including without limitation any such moneys received by the Commonwealth or the MDC in trust for the Authority pursuant to Sections 4 and 5 of the Act as or on account of a grant or contribution, heretofore made, in aid of or with respect to any improvement to the System).

Grant Receipts means reimbursement payments received by the City pursuant to the terms of the Grants.

Examples of Grant Receipts in a sentence

MTC’s obligation to pay all amounts as set forth in this Agreement, including without limitation MTC Funding Obligations, is a special, limited obligation payable solely from Programmed Grant Receipts, and MTC is not liable, and shall not be deemed to be liable, in any way for payment of such amounts from any source of funds, excepting solely Programmed Grant Receipts actually received (or receivable) at any time by MTC.
In addition, the Grant Receipts are hereby pledged to the repayment of the Note.
The Grant Receipts and other moneys, securities and funds so pledged, and subject to such lien, are and will be free and clear of any pledge, lien, charge or encumbrance thereon or with respect thereto prior to, or of equal rank with, the pledge and lien created by this Indenture, and all action on the part of SANDAG to that end has been and will be duly and validly taken.
The City has lawful power and authority to pledge such Non-Ad Valorem Revenues and Grant Receipts and expects that Non- Ad Valorem Revenues of the City together with the Grant Receipts will be sufficient to pay the principal of and interest on the Series 2024 Note when due as provided herein and in the Note.
This Agreement creates for the exclusive benefit of the Bank a legally valid, binding and irrevocable Lien on and pledge of the Programmed Grant Receipts and all of the Borrower’s rights (but not the Borrower’s obligations) under the MTC Grant Funding Agreement (collectively, the “Collateral”).
All Grant Receipts received by SANDAG shall be transferred within one Business Day of receipt to the Trustee for deposit in the Grant Receipts Fund.
SANDAG will pay over to the Trustee within one Business Day all Grant Receipts for application in accordance with this Indenture.
All of such moneys constituting Grant Receipts, when received by SANDAG, shall be deposited promptly with the Trustee.
Nothing in this Indenture shall prohibit or prevent, or be deemed or construed to prohibit or prevent, SANDAG (to the extent now or hereafter permitted by law) from issuing bonds, certificates or other evidences of indebtedness payable as to principal and interest from Grant Receipts, but only if such indebtedness is junior and subordinate in all respects to any and all Bonds issued and Outstanding under this Indenture.
SANDAG shall at all times, to the extent permitted by law, defend, preserve and protect the pledge of and lien on the Grant Receipts and other moneys, securities and funds pledged under this Indenture and all the rights of the Owners under this Indenture against all claims and demands.

More Definitions of Grant Receipts

Grant Receipts means any amount received by SANDAG from Section 5309 (49 United States Code Section 5309) New Starts funds pursuant to the Full Funding Grant Agreement.

Grant Receipts means, collectively, the Full Funding Grant Receipts and the Section 5307 Grant Receipts.