Examples of Second Funding Agreement in a sentence
The CFD 2006–2 bond proceeds would be used to reimburse the previously advanced costs of the Levee Improvement Program and Yuba County (County) Capital Facilities Fees funded through prior agreements entered into by certain landowners, the County, and TRLIA before the execution of the Second Agreement for Advanced Funding and Reimbursement of Costs for Levee Improvement (Second Funding Agreement).
CFD 2006–1 proceeds would be used to fund ongoing costs of the Levee Improvement Program pursuant to the details outlined in the Second Funding Agreement.
Adopt resolution approving proposal to amend second agreement for advanced funding and reimbursement of costs for levee improvements, approving Term Sheet for First Amendment to Second Funding Agreement, and directing staff to continue working with county and participating landowners in connection with financing plan and preparation of amendment and submittal of financial plan.
At December 31, 2007 the company had received advances of $6.0 million against the Second Funding Agreement and accrued interest expenses of $51,460.
Advances and interest under the Second Funding Agreement of approximately $8.1 million were repaid to Ivanhoe from the proceeds of the January 2008 equity private placement.
The County, TRLIA and the Developer hereby acknowledge and agree that following State Approval all rights, duties, or obligations set forth in, or required by, the Second Funding Agreement as applied to each of them are hereby terminated and neither of the Funding Agreements is of any force or effect as to the County, TRLIA and Developer.
At the time of the execution of the Second Funding Agreement, the anticipated levee improvements included strengthening in place improvements to the existing left (east) Feather River levee from the Bear River Setback levee to the Yuba River, however, a Feather River setback levee from Star Bend to Shanghai Bend (the "Feather River Setback Levee") was contemplated.
Developer acknowledges and agrees that no other reimbursement or Credit is due for funds advanced under prior agreements concerning construction of the Levees, including the 2005 Funding Agreement and/or the Second Funding Agreement.
Developer shall provide, at no cost to all new residents (including the initial sale by the Developer and all subsequent resales) of homes constructed by such Developer within the Affected Area (as defined in the Second Funding Agreement) since 2003 (i.e., homes for which building permits were issued from and after January 1, 2003), flood insurance and renewals of flood insurance only through the Completion of the Levee or until December 31, 2010 (whichever occurs first).
All amounts advanced under the Second Funding Agreement bear interest at an annual rate equal to LIBOR plus three and three-tenths per cent (3.3%) (a total of 8.0% at December 31, 2007) and mature on June 30, 2009.