Industrial Revenue Bonds. The Xxxxxx Coffee Company has indebtedness under the following lease agreement in connection with certain Industrial Revenue Bonds listed below.
Industrial Revenue Bonds. The Company and its Subsidiaries are not indebted under any industrial revenue bonds.
Industrial Revenue Bonds. All documents evidencing, securing or otherwise relating to the Industrial Revenue Bonds.
Industrial Revenue Bonds. (a) The City declares an intent to issue, pursuant to K.S.A. 12-1740 et seq. (the “IRB Act”), industrial revenue bonds, in one or more series, in an aggregate principal amount not to exceed $35,000,000 (the “IRB”) to finance construction of the Parcel A Facility and Parcel B Facility, subject to satisfaction of the conditions set forth in Section 8.01(d) and the Letter of Intent.
Industrial Revenue Bonds. Developer has requested industrial revenue bond ("IRB") financing in order to pay certain project costs pursuant to K.S.A. 12-1741 et seq. Subject to all Applicable Laws and Requirements and subject further to compliance by Developer with all of the UG's requirements for the issuance of IRBs, the parties hereby agree that Developer may use IRB financing to obtain an exemption on sales taxes for construction materials for the Project. However, the parties hereby understand and agree that IRB financing shall not be used for abatement of ad valorem property taxes for the Project or the Project Site, subject to the terms set forth in Section 4.1(b) below.
Industrial Revenue Bonds. The Company, as tenant, shall have delivered to the City of Lawrence, Kansas (the "City"), all of the documentation necessary to redeem and pay the outstanding City of Lawrence, Kansas, Taxable Industrial Revenue Bonds, Series 1992 maturing on and after April 1, 1997 and the outstanding City of Lawrence, Kansas, Taxable Industrial Revenue Bonds, Series A, 1993 maturing on and after October 1, 1997, and the City shall have approved and authorized such redemption and issued a notice thereof to the bondholders.
Industrial Revenue Bonds. (A) US Borrower shall, on or prior to March 24, 2005, cause the redemption of all of the Nebraska IRBs, and (B) US Borrower shall promptly after such redemption (but in no event later than April 3, 2005) repay all amounts owing in connection therewith and cause all agreements pertaining thereto (including without limitation the IRB Indenture, the IRB Lease Agreement, and that certain Irrevocable Letter of Credit Number SB/IRB 169 dated as of October 30, 1997 issued by M&I Mxxxxxxx & Ixxxxx Bank in favor of Norwest Bank Wisconsin, National Association as Trustee) to be terminated and exercise US Borrower’s purchase option set forth in Section 10.1 of the IRB Lease Agreement.
Industrial Revenue Bonds. The City would agree to issue industrial revenue bonds, in one or more series (the “IRB’s) to finance eligible capital expenditures for the KHSC, SHF, Hotel and Culinary Center portions of the Project. It is anticipated that the Developer would arrange its own conventional financing to construct and equip the Projects. The IRB’s would be issued after completion of the Projects if the performance requirements of the DA are satisfied. It is further anticipated that the IRB’s would be purchased by the Developer or a related entity. The IRB’s for the KHSC, SHF, Hotel and Culinary Center would provide exemption for expenditures subject to sales taxes. In addition, the IRB’s for the KHSC and SHF would provide for an ad valorem property tax exemptions in amounts and for periods prescribed by City policy. Note, ad valorem property tax exemption is subject to the City modifying boundaries of existing project areas within the Center City South Tax Increment District (the “TIF District”) and standard City IRB Policy and covenants; including termination of property tax abatements and “claw back” provisions if Developer does not comply with capital expenditure and employment covenants.
Industrial Revenue Bonds. The term "Industrial Revenue Bonds" means the financings described in Schedule 1.34.
Industrial Revenue Bonds. Buyer shall use its best efforts (and Seller shall cooperate with Buyer) from and after the date hereof to cause Sovran Bank, N.A., as Trustee under that certain Indenture of Trust dated as of November 1, 1986, pursuant to which the IRB was issued (the Trustee ), to permit the substitution by Buyer of (i) a letter of credit to be issued by a lender which is chosen by Buyer and which is satisfactory to the Trustee (the Substitute LOC ), for (ii) that certain Irrevocable Letter of Credit issued by Union Bank of Switzerland, New York Branch (the Bank ) in favor of the Trustee (the Union LOC ) relative to the IRB. In the event the Substitute LOC has not been issued on the Closing Date, Buyer, from and after the Closing Date, shall (i) indemnify and hold Parent harmless from and against any and all liabilities, obligations, losses, claims, and expenses (including attorney s fees and costs of suit) incurred by Parent and arising under or in connection with that certain Guarantee dated November 1, 1986, made by Parent in favor of the Bank and (ii) as security for the foregoing indemnity of Buyer, cause to be issued and maintained in effect until the first to occur of the expiration of the term of the Union LOC or the issuance of the Substitute LOC an irrevocable letter of credit in favor of Parent (the Indemnity LOC ) by Bankers Trust Company, Nations Bank or such other lender which is chosen by Buyer and which is satisfactory to Parent in the exercise of its sole discretion and the Indemnity LOC shall be in an amount and for a term equal to the Union LOC and contain such other terms as are satisfactory to Parent. Notwithstanding the provisions of the first sentence of this Section 5.16, in the event the substitution of the Substitute LOC for the Union LOC would, by itself, adversely impair the tax exemption of interest on the IRB or cause the IRB to not remain outstanding after the Closing Date in accordance with the terms of the IRB, Buyer s sole obligation under this Section 5.16 shall be to provide to Parent the indemnity and Indemnity LOC contemplated by the second sentence of this Section. In the event Buyer is unable to cause the substitution of the Substitute LOC for the Union LOC and the term of the Union LOC expires prior to end of the term of the IRB, Parent shall use its reasonable commercial efforts to renew the Union LOC or assist Buyer in obtaining a Substitute LOC so that the IRB remains outstanding until the expiration of its term.
