PIF Covenant definition

PIF Covenant shall have the meaning set forth in Section 9(e).
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PIF Covenant means a declaration of covenants by Developer imposing and implementing the Add-On PIF within the Property.
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PIF Covenant the Declaration of Covenants Imposing and Implementing the Interquest Westside Public Improvements Fee made as of , 2017 by the Developer and recorded in the real property records of the County on , 2017 at reception number
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Examples of PIF Covenant in a sentence

  • Notwithstanding any provision to the contrary contained in this Service Plan, the District shall not be authorized to issue any Debt for any purpose unless and until (a) each of the Owners (as defined in the Binding Agreement) have recorded the PIF Covenant (as defined in the Binding Agreement) against each of their respective properties, and (b) the City and the Overlay District have entered into the Capital Pledge Agreement.

  • Notwithstanding any provision to the contrary contained in this Service Plan, the District shall not be authorized to impose any mill levy for any purpose unless and until (a) each of the Owners (as defined in the Binding Agreement) have recorded the PIF Covenant (as definedin the Binding Agreement) against each of their respective properties, and (b) the City and the Overlay District have entered into the Capital Pledge Agreement.

  • Notwithstanding any provision to the contrary contained in this Service Plan, the District shall not be authorized to impose any fees, rates, tolls or charges for any purpose unlessand until (a) the Owners (as defined in the Binding Agreement) have recorded the PIF Covenant (as defined in the Binding Agreement) against each of their respective properties, and (b) the City and the Overlay District have entered into the Capital Pledge Agreement.

  • Landlord hereby discloses to Tenant that Landlord is entering into this Lease individually and as nominee for Nisan 4, a joint venture (“Nisan 4”), that all rent payments are to be made to Landlord and that Landlord shall be responsible for distributing rent to Nisan 4.

  • The PIF will be collected by (i) all sellers or providers of goods or services who engage in any PIF sales transactions within those portions of the Development subject to the PIF Covenant from the purchaser or recipient of such goods or services and (ii) by all homebuilders, and then will be paid over to the PIF collection agent.

  • The City shall have the right to review and consent to the forms of the Add-On PIF Covenant and the Add-On PIF Collection Services Agreement and to review or audit the books and records relating to the imposition, collection and remittance of the Add-On PIF revenues.

  • The PIF is in the amount of 1 % of such sales, until the termination of the PIF Covenant, or reduction of the PIF, subsequent to the date upon which all financings required under the PIF Covenant have been discharged or paid.

  • Acquiror shall make reasonable business efforts to provide such notice thirty (30) days in advance of any pending administrative date.

  • Developer shall impose and maintain in force the Add-On PIF on Taxable Transactions in accordance with the Add-On PIF Covenant; provided that Developer may impose the Add-On PIF as components of the Project are substantially completed rather than subjecting all of the Property to the Add-On PIF at the inception of the Project.

  • The Primary PIF Recipient shall provide Purchaser with any and all information needed so that Purchaser may comply with the provisions of the PIF Covenant.


More Definitions of PIF Covenant

PIF Covenant. “PIF Revenue” If not otherwise specifically addressed in this Amendment, the Agreement is deemed amended to the extent necessary to give effect to the deletion of these terms where they appear and all references to the “Agreement” shall include the original Agreement as amended by this Amendment. The Agreement is hereby amended by adding the definitions of “Vectra Loan,” “Vectra Loan Agreement,” “Lender,” “Vectra Note,” “Custodial Agreement,” “Custodian,” and “Vectra Loan Documents,” to Section 2.0 of the Agreement, as each such term is defined in this Amendment. The following defined terms in Section 2.0 of the Agreement shall be amended and restated as provided below:
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Related to PIF Covenant

  • Deed of Covenant means, in relation to a Ship and if required by the laws of the Approved Flag State, a deed of covenant collateral to the Mortgage on that Ship and creating charges over (inter alia) that Ship, her Earnings, her Insurances and any Requisition Compensation in the Agreed Form;

  • Maintenance Covenant A covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) during each reporting period, that exists regardless of whether or not such borrower has taken any specified action and includes a covenant that applies only when the related loan is funded.

  • Environmental covenant means a servitude arising under an environmental response project that imposes activity and use limitations.

  • Financial Covenant has the meaning specified in Section 7.08.

  • Incurrence Covenant means a covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) only upon the occurrence of certain actions of the borrower, including a debt issuance, dividend payment, share purchase, merger, acquisition or divestiture.

  • Second Extension Period means the period commencing on the date immediately following the First Extended Maturity Date and expiring on the Second Extended Maturity Date, as more fully set forth in Section 2.9 hereof.

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that: