Legally Available Funds definition

Legally Available Funds means funds duly appropriated or otherwise legally available for the purpose of making payments under this Contract.

Legally Available Funds means, with respect to any redemption of the Securities pursuant to Section 5 hereof, the amount of funds of the Company legally available for such redemption as required under Section 160 of the Delaware General Corporation or any comparable provision of any succeeding laws.

Legally Available Funds means (i) Gross Revenues, (ii) funds and revenues of CRDA, which funds and revenues are legally available to meet the general obligations of CRDA and not required by law to be held and applied for another purpose or pledged, assigned or held exclusively for the payment of bondholders or other obligations of CRDA under a written indenture or contract with or for the benefit of any such bondholders or other obligees; and (iii) amounts appropriated and made available by the State for purposes of Facility Operations, Capital Expenditures, or the Investment Refund Payment.

Examples of Legally Available Funds in a sentence

• Notwithstanding anything in any Lease to the contrary, any indemnity amount payable by Lessee as provided in this Section 24.2 shall be payable solely from Legally Available Funds.

• In the event that the Legally Available Funds available for the payment of dividends shall be insufficient for the payment of the entire amount of dividends payable at any Dividend Payment Date, the amount of any available surplus shall be allocated for the payment of dividends with respect to the Preferred Shares pro rata based upon the Liquidation Value of the outstanding shares.

• The Series A Preferred Stock shall have a liquidation preference of $1,000 per share (the “Stated Amount”), plus an amount equal to any dividends accrued or cumulated and not paid on the Series A Preferred Stock, whether or not declared and whether or not there are then Legally Available Funds (as defined below), to the Liquidation Date (as defined below) (the “Liquidation Value”).

• Notwithstanding anything in a Lease to the contrary, any payment that Lessee is required to make pursuant to this subsection (b) shall be made only from Legally Available Funds.

• Payment of the Put Redemption Price shall only be out of Legally Available Funds.

More Definitions of Legally Available Funds

Legally Available Funds means, with respect to any redemption of this Warrant pursuant to Section 5 hereof, the amount of funds of the Company legally available for such redemption as required under the applicable governing law.

Legally Available Funds means funds that the governing body of Obligor duly appropriates or are otherwise legally available for the purpose of making Contract Payments under this Contract, including monies held in the Vendor Payable Account to the extent that such moneys are used to prepay Contract Payments or Purchase Option Price. "Obligee" means the entity originally listed above as Obligee or any of its assignees.

Legally Available Funds means, with respect to any purchase of Warrant Securities pursuant to Section 19(a), the amount of funds of the Company legally available therefor under the corporate laws under which the Company is organized and existing.

Legally Available Funds means funds or other property the distribution of which in accordance herewith would not be prohibited by or violate Section 17-607 of the Act.

Legally Available Funds means cash funds that are legally available to the Corporation to pay dividends and make redemption and other payments to the Holders of the Series A Preferred Stock and that are not then restricted by any Debt Blocker.

Legally Available Funds means the Tax Increment Revenues and the DDA Revenues. “Payment Date” means a Principal Payment Date or an Interest Payment Date.

Legally Available Funds means, with respect to any redemption of the Warrant Securities pursuant to Section 11 hereof, the amount of funds of the Company available for such redemption (a) as required under Sections 151 and 160 of the General Corporation Law of the State of Delaware, as amended, or any comparable provision of any succeeding law, (b) until such time as all Senior Indebtedness then due and payable shall have been paid in full and all letters of credit and commitments arising under the Senior Loan Agreement have expired or terminated, as permitted by the terms, conditions or provisions of the Senior Loan Agreement and (c) as permitted by the Purchase Agreement.