Recovery Payments definition

Recovery Payments means, except as otherwise provided in a Supplemental Resolution authorizing the issuance of a Series of Bonds, monies received by the Agency with respect to Projects from (i) proceedings taken by the Agency in the event of the default by a Mortgagor, including the sale, assignment or other disposition of the Mortgage Loan or the Project or the proceeds of any mortgage insurance or credit enhancement with respect to a Mortgage Loan which is in default or (ii) the condemnation of a Project or any part thereof or from hazard insurance payable with respect to the damage or destruction of a Project and that are not applied to the repair or reconstruction of such Project.
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Recovery Payments means monies received by the Agency or the Trustee with respect to the Project from (i) proceedings taken by the Agency in the event of the default by the Mortgagor, including the sale, assignment or other disposition of the Mortgage Loan or the Project or (ii) the condemnation of the Project or any part thereof or from hazard insurance payable with respect to the damage or destruction of the Project and which are not applied to the repair or reconstruction of the Project.
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Recovery Payments means any Actual Recoveries Amount, Estimated Recoveries Amount, Estimated Recoveries Adjustment Payment, 5th Day Cut-Off Amount and/or Late Recovery Amount in respect of a Defaulted Reference Obligation.
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Examples of Recovery Payments in a sentence

  • Association challenges of the amounts billed for Staffing Cost Recovery Payments will be handled in accordance with the dispute resolution process set out in Section 18.

  • However, the Company shall agree to make payments-in-lieu-of property taxes (“PILOT Payments”) and Community Recovery Payments in accordance with the PILOT Agreement attached hereto as Exhibit E.

  • The Annual Option Payment (discussed in Section 7.1 above) will be credited to Groundwater Storage and Recovery Payments.

  • If the Annual Report for any Goal Year during the Performance Period shows that, for such Goal Year, the Project Goals Percentage is less than 80% (a “Shortfall Year”), then the Company, in such Annual Report, shall calculate the amount of the “Community Recovery Payments.” If the Project Goals Percentage as shown in the Annual Report for the Goal Year immediately succeeding a Shortfall Year is less than 80%, then the Company shall pay the Community Recovery Payments for the prior Shortfall Year.

  • The balance owed for Groundwater Storage and Recovery Payments in excess of Annual Option Payment shall be paid within 30 days of receipt of invoice from Tejon.

  • Rather, the Company’s responsibilities regarding such matters shall be governed exclusively by the provisions hereof relating to Community Recovery Payments (provided for in Section 4.7 below).

  • Certain Amounts Relating to Letters of Credit or Other Credit Enhancements Securing the 2022 Series Mortgage Loans to Constitute Pledged Receipts or Recovery Payments.

  • Certain Amounts Relating to Letters of Credit or Other Credit Enhancements Securing the 2022 Series Mortgage Loans to Constitute Pledged Receipts or Recovery Payments 33 SECTION 507.

  • Prepayment Premiums or Penalties Not to Constitute Pledged Receipts or Recovery Payments.

  • Payment of said invoices for Groundwater Storage and Recovery Payments shall include future recovery from KWB and delivery to PEF.


More Definitions of Recovery Payments

Recovery Payments shall have the meaning set forth in Section 7.6.
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