Annual AHIF Loan Payments Sample Clauses

Annual AHIF Loan Payments. As set forth in the AHIF Note, the Borrower shall repay the outstanding principal amount of the AHIF Loan of Four Million Three Hundred Twenty-Three Thousand Eight Hundred Seventy-One and 00/100 Dollars ($4,323,871.00), plus accrued interest, in annual payments (“Annual AHIF Loan Payments”) beginning June 1, 2019, from the disbursement of Residual Receipts pursuant to Section 2.05(b) below. Annual AHIF Loan Payments from the disbursement of Residual Receipts shall be due and payable to the County Board in arrears no later than June 1st of each year with respect to the Residual Receipts from the previous calendar year. Notwithstanding anything in this Agreement to the contrary, the County Manager shall apply Annual AHIF Loan Payments made by the Borrower in connection with the AHIF Loan first to accrued but unpaid interest and then to principal. Any such Annual AHIF Loan Payments shall have no effect upon the Borrower’s obligations and covenants under Article IV of this Agreement which shall survive for the full term of the AHIF Affordability Compliance Period. If there are no Residual Receipts available for disbursement pursuant to Section 2.05(b) below, the Borrower shall provide the County Manager or his designee with a certificate which certifies that there are no Residual Receipts available for disbursement (“Residual Receipts Certificate”).
Sample 1
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Related to Annual AHIF Loan Payments

  • Loan Payments (a) The Loan shall bear interest at a fixed rate per annum equal to the Note Rate. Interest shall be computed based on the daily rate produced assuming a three hundred sixty (360) day year, multiplied by the actual number of days elapsed. Except as otherwise set forth in this Agreement, interest shall be paid in arrears.

  • Advance Payments Payments made by the Borrower to satisfy future installments must be accounted for as prepaid installments of principal and interest. The Servicer should contact the Borrower if there is a question about the Borrower's intention in making any unscheduled payment.

  • Vacation Pay Advance Where an Employee requests vacation pay in advance and provides fourteen (14) days written notice prior to the commencement of the vacation, vacation pay shall be provided to the Employee no later than her last scheduled working day prior to vacation.

  • Compensation & Payment 8.4.1. Should the claim be found proven; settlement is executed only in the form of compensation payment added to the Client trade account.

  • Longevity Payments All employees, who are hired on or after January 1, 1989, shall not be covered by this Article. Full-time employees on the County Payroll as of December 31, 1988, shall be entitled to longevity pay subject to the following provisions:

  • Refinancing Preparation Advance; Capitalizing Front-end Fee and Interest (a) If the Loan Agreement provides for the repayment out of the proceeds of the Loan of an advance made by the Bank or the Association (“Preparation Advance”), the Bank shall, on behalf of such Loan Party, withdraw from the Loan Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Loan Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Bank shall pay the amount so withdrawn to itself or the Association, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

  • Advance Payment The right to indemnification conferred in this Article VII shall include the right to be paid or reimbursed by the Company the reasonable expenses incurred by a Person of the type entitled to be indemnified under Section 7.3 who was, is or is threatened to be made a named defendant or respondent in a Proceeding in advance of the final disposition of the Proceeding and without any determination as to the Person’s ultimate entitlement to indemnification; provided, however, that the payment of such expenses incurred by any such Person in advance of the final disposition of a Proceeding shall be made only upon delivery to the Company of a written affirmation by such Person of his or her good faith belief that he has met the standard of conduct necessary for indemnification under Article VII and a written undertaking, by or on behalf of such Person, to repay all amounts so advanced if it shall ultimately be determined that such indemnified Person is not entitled to be indemnified under this Article VII or otherwise.

  • CONCESSION PAYMENT AND INCREASE A. For the Initial Term of the Agreement, Concessionaire shall pay Department a minimum Concession Payment of Eight Hundred ($800.00) Dollars in accordance with the Concession Payment Schedule set forth in Exhibit B as consideration for the Concession, license and privilege granted. For subsequent Renewal Terms, if any, Concessionaire shall pay Department in accordance with the Concession Payment Schedule set forth in Exhibit B.

  • Pro Rata Payments Payments to the Holders shall be pro rata with other Holders who purchased Notes in the same oRering, based on the Principal Amount of each such Note. If a Holder receives a payment in excess of his, her, or its pro rata share, the excess shall be deemed to be held in trust for the benefit of other Holders.

  • Negotiated Funding Amount, Board Contributions 4.1.1 Each Board shall pay an amount equal to 1/12th of the annual negotiated funding amount as described in 4.1.2 and 4.1.3 to the Trustees of the ETFO ELHT by the last day of each month from and after the Board’s Participation Date.

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