Examples of WGFP Allotment in a sentence
The proceeds of any auction sale shall be applied first to cover the cure amount described in Section 5.5.5, except any monthly penalty, and second to cover any Operating C&E accrued during the disposition process that are attributable to the purchased WGFP Allotment.
In the event the proceeds of any auction sale do not cover the cure amount described in Section 5.5.5, except any monthly penalty, and all Operating C&E accrued during the disposition process that are attributable to the purchased WGFP Allotment, the successful bidder(s) purchasing the WGFP Allotment shall pay the deficiency attributable to the amount of WGFP Units purchased at such auction sale.
The obligation of each Loan Allottee to make payments under its respective WGFP Allotment Contract is a several obligation and not a joint obligation with those of the other WGFP Allottees.
The Subdistrict shall have the right to preposition C-BT Project Water in any portion of the WGFP not used by Greeley for the storage of water in Greeley’s WGFP Allotment under Section 4.1. Prepositioned C-BT Project Water shall become Prepositioned Windy Gap Project Water when Windy Gap Project Water is available and designated for storage in Chimney Hollow Reservoir.
The WGFP Enterprise hereby allots and confirms to Greeley a WGFP Allotment of 9,189 WGFP Units commencing as of the date of execution of this Contract and for so long thereafter as Xxxxxxx fully complies with all the terms, conditions and obligations hereinafter set forth.
No Loan Allottee shall be liable under its respective WGFP Allotment Contract for the obligations of any other Loan Allottee except as expressly set forth in Section 5.4 hereof.
If Greeley timely cures a Default under this Section 5.4.5, then no part of Xxxxxxx’x WGFP Allotment shall be forfeited and reallocated under Section 5.4.6.
If and to the extent Loan Allottee transfers all or a part of its WGFP Allotment associated with any WGFP Financing under the terms of Section 5.2, Loan Allottee shall remain liable for its obligations to pay the WGFP Enterprise for the WGFP Financing associated with the transferred WGFP Allotment in the event and to the extent not paid by the transferee acquiring such WGFP Allotment.
Each Loan Allottee shall be solely responsible and liable for performance of its obligations under its respective WGFP Allotment Contract.
Auction bids to purchase all or a portion of the forfeited WGFP Allotment shall be submitted to the WGFP Enterprise on or before the first business day of April of the calendar year in which the cure period terminates and the WGFP Allotment is forfeited.