Allocation Area(s) and Pledged Increment Sample Clauses

Allocation Area(s) and Pledged Increment. (a) Allocation Area(s). Subject to all procedures required by the Laws and the terms and conditions of this Agreement, upon the earlier of (i) Closing; or (ii) (30) days of expiration of the Diligence Period, City Bodies shall establish the Allocation Area, and RDC shall pledge the Pledged Increment to the repayment of the Bonds for the Bond Term. In the following order, Pledged Increment will be utilized to (1) make current payments of interest and principal on the Bonds, (2) remedy any prior shortfalls with respect to payments of interest and principal on the Bonds (in any instance, a “Shortfall”) or, in the event of a Shortfall, reimburse Xxxxxxxx or an Andretti affiliate if such entity makes a payment on the Bonds, and (3) pay Continuing Bond Costs. City Bodies shall not pledge to the repayment of the Bonds any tax revenues or other funds of the City, except the Pledged Increment. City Bodies shall not be liable for any shortfall in the Pledged Increment. Any amounts due and owing on the Bonds at the expiration of the Bond Term shall be forgiven. Notwithstanding the foregoing, if Closing occurs on or before October 31, 2022, the term “Closing” in subsection (i) above shall change to November 1, 2022.
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Related to Allocation Area(s) and Pledged Increment

  • Longevity Increment All unit members who have completed the required years of District service, as defined below, shall be eligible to receive a longevity increment.

  • Longevity Increments 11.6.1 Each regular classified employee shall receive a two-range increase (5%) upon completion of five (5) years of satisfactory and continuous service. This increase will become effective at the beginning of the sixth year.

  • Billing Increments Unless otherwise stated in a Service Order, usage-based charges will be billed on either a per-minute or per- message basis. Service calls invoiced on a per-minute basis will have an initial minimum call duration of one (1) minute, subsequent intervals of one (1) minute each, and will be billed by rounding to the next whole minute.

  • Anniversary Increments Employees shall advance on the wage grid on their anniversary date in the classification.

  • Tax Increment Financing The Redevelopment Agreement provides for the capture of the Tax Increment, as defined therein, by the City of the Redeveloper Improvements to be made by the Redeveloper for a period not to exceed fifteen (15) years after the Redevelopment Project effective date defined in the Redevelopment Agreement. The Tax Increment so captured by the City shall be used for to make the Redeveloper Improvements as described in the Redevelopment Agreement.

  • Service Increments For unit members hired from January 1 through June 30 on an 11 or 12 month contract their first step increment will be the following January 1. For unit members hired from January 1 through June 30 on a 10 month contract their first step increment will be the following February 1. For unit members hired from July 1 through December 31 on an 11 or 12 month contract their first step increment will be on January 1 after completing one (1) full year of service. For unit members hired from July 1 through December 31 on a 10 month contract their first step increment will be on February 1 after completing one (1) full year of service. Subsequent step movements will occur on January 1 for 11 and 12 month contract unit members and will occur February 1 for 10 month contract unit members.

  • Wage Increases The wage rates in this Agreement will only be increased in accordance with any increases which may be awarded by the Australian Fair Pay Commission through wage reviews. The level of any increases will be such that the percentage wage increase as set out in Clause 15 of this agreement will be maintained. No additional increases in wage rates will apply to the rate of pay in Clause 15 of this Agreement while it is in operation.

  • Annual Increments (a) For regular full-time Employees, a one-step increase within the salary range shall become effective as of the first day of April or the first day of October as the case may be. Where the anniversary date of an initial appointment falls between January 1 and June 30, the date of the increment increase will be April 1, and where between July 1 and December 31, the date of the increment increase will be October 1.

  • Salary Increments The Employer, may grant an increment for meritorious service after an employee has served for a period of twelve (12) months following the first day of the month established in Article 35.07 or twelve (12) months following the date of a change in his rate of compensation as established in Articles 35.04, 35.05, or 35.06.

  • Increment Date (a) Full-time Employees shall be eligible for increments annually from their date of employment.

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