Examples of TIFIA Note in a sentence
Principal of and interest on this TIFIA Note shall be paid in funds available on or before the due date and in any lawful coin or currency of the United States of America that at the date of payment is legal tender for the payment of public and private debts.
Payment of the obligations of the Borrower under this TIFIA Note is secured pursuant to the CASA and the TIFIA Loan Agreement and is payable solely from the revenues and other funds pledged and otherwise available to make payment as provided in the TIFIA Loan Agreement, and the Borrower is not obligated to pay such obligations except from such revenues and other funds.
Payments under this Agreement and the TIFIA Note shall be made by wire transfer on or before each Payment Date in immediately available funds in accordance with payment instructions provided by the TIFIA Lender pursuant to Section 36 (Notices; Payment Instructions), as modified in writing from time-to-time by the XXXXX Xxxxxx.
As evidence of the Borrower’s obligation to repay the TIFIA Loan, the Borrower shall issue and deliver to the TIFIA Lender, on or prior to the Effective Date, the TIFIA Note substantially in the form of Exhibit A, having a maximum principal amount of $8,449,000 (subject to increase or decrease as herein provided) and bearing interest at the rate set forth in Section 6 (Interest Rate).
The issuance of this TIFIA Note was authorized pursuant to Resolution No. 2021-11 adopted by the Board of Directors (the “Board”) of the Borrower at a regular meeting of the Board held on October 12, 2020.
The Borrower is a special purpose district duly organized, validly existing and in good standing under the laws of the State, has full legal right, power and authority to enter into the Related Documents then in existence to which the Borrower is a party, to execute and deliver the TIFIA Note, and to carry out and consummate all transactions contemplated hereby and thereby and has duly authorized the execution, delivery and performance of the Related Documents to which the Borrower is a party.
This TIFIA Note may be prepaid at the option of the Borrower in whole or in part (and, if in part, the principal installments and amounts thereof to be prepaid are to be determined in accordance with the TIFIA Loan Agreement; provided, however, such prepayments shall be in principal amounts of at least $100,000), at any time or from time to time, without penalty or premium, by paying to the TIFIA Lender all or part of the principal amount of the TIFIA Note in accordance with the TIFIA Loan Agreement.
Any payment of the TIFIA Note shall be treated as a payment of the TIFIA Loan.
This TIFIA Note has been executed under and pursuant to the TIFIA Loan Agreement and is issued to evidence the obligation of the Borrower under the TIFIA Loan Agreement to repay the loan made by the XXXXX Xxxxxx and any other payments of any kind required to be paid by the Borrower under the TIFIA Loan Agreement or the other TIFIA Loan Documents referred to therein.
All acts, conditions and things required by the Constitution and laws of the State to happen, exist, and be performed precedent to and in the issuance of this TIFIA Note have happened, exist and have been performed as so required.