Examples of Installment Sale Payments in a sentence
The Certificates are special, limited obligations of the City payable solely from Measure A Revenues, consisting primarily of Installment Sale Payments to be made by the City to the Authority pursuant to a 2013 Installment Sale Agreement, dated as of August 1, 2013, by and between the Authority and the City, pursuant to which the City will lease certain Facilities.
Notwithstanding the foregoing, the City may at any time transfer to the Trustee for deposit in the Revenue Fund Other Available Revenues, and if and when so deposited, all such Other Available Revenues deposited in the Revenue Fund shall be irrevocably pledged to the payment of Installment Sale Payments and shall serve to offset Tax Revenues needed to pay 2021 Installment Sale Payments and the Administration Fee.
Notwithstanding anything contained herein, the City shall not be required to advance any moneys derived from any source of income other than the Tax Revenues for the payment of the 2021 Installment Sale Payments or for the performance of any agreements or covenants required to be performed by it contained herein.
This will continue to be the case and as more brownfield sites come forward for redevelopment the procedures outlined below will continue to be used to address contamination issues without the need to use the powers set out in Part IIA.
This Agreement (together with the Trust Agreement) represents the entire contract between the City and the Authority relating to the 2021 Installment Sale Payments, the Project, and the Bonds.
The Local Agency will preserve and protect the security hereof and the rights of the Authority and the Trustee to the 2020 Installment Sale Payments hereunder and will warrant and defend such rights against all claims and demands of all persons.
All or part of the principal component of the Installment Payments may be prepaid at the option of the City on any date occurring on or after October 1, 2023, in an amount equal to the principal amount to be prepaid, plus accrued interest to the date of prepayment, without premium: Any partial prepayment shall be applied first to accrued interest and second to the principal component of the Installment Sale Payments in inverse order of their payment dates.
The City covenants and agrees to use and apply all Measure R Receipts, Measure M Receipts, and Proposition C Receipts as received on an annual basis to the payment of Installment Sale Payments prior to any other expenditure of such Tax Revenues, subject to the release for expenditure as provided in this section below and only in an amount not exceeding the Measure R Receipts, the Measure M Receipts, and the Proposition C Receipts.
To that end, so long as any 2020 Installment Sale Payments are unpaid, the City will comply with all requirements of such sections of the Code to the extent applicable to the obligations provided herein.
Liability of Agency Limited to Net Water Revenues.Notwithstanding anything contained herein, the Agency shall not be required to advance any moneys derived from any source of income other than the Net Water Revenues for the payment of the 2018 Installment Sale Payments or for the performance of any agreements or covenants required to be performed by it contained herein.