Authority Contribution Amount Sample Clauses

The 'Authority Contribution Amount' clause defines the specific sum or percentage that an authority, such as a government agency or regulatory body, is obligated to contribute toward a project, contract, or initiative. This clause typically outlines the timing, method, and conditions under which the contribution will be made, and may specify whether the amount is fixed, capped, or subject to adjustment based on certain criteria. Its core practical function is to ensure clarity and certainty regarding the financial responsibilities of the authority, thereby reducing the risk of disputes over funding and facilitating effective project planning and execution.
Authority Contribution Amount. The Authority shall contribute an amount equal to the lesser of: (i) Three hundred eighty million dollars ($380,000,000) from the sources described in Section 3.2(a)(ii) below; or (ii) an amount equal to the sum of the following: (A) the money generated by the taxes, fees, and charges described in subsection 1 of Section 29 of the Act before the issuance of the County Bonds and applied to pay Project Costs pursuant to paragraph (a) of subsection 2 of Section 32 of the Act (such money, the “Pay-Go Tax Proceeds”), plus (B) the maximum amount of bond proceeds raised from the issuance of the County Bonds, after payment of issuance costs, including capitalized interest, if applicable, and the cost of funding the debt service reserve fund as set forth in the Act (the “County Bond Proceeds”), plus (C) the face value of Transferable Tax Credits approved by Authority and issued to StadCo in accordance with Section 31 of the Act and Section 3.4 below, plus (D) a credit in an amount of not less than twenty-five million dollars ($25,000,000) for any costs, expenses, or charges imposed upon, assessed to, or otherwise required to be incurred by, StadCo as provided in subsection 3 of Section 33 of the Act, as further described in the County Development Agreement (such amount, the “County Credit”). The lesser amount of Section 3.2(a)(i) or Section 3.2(a)(ii) above shall be referred to herein as the “Authority Contribution Amount.”
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Authority Contribution Amount. The Authority Contribution Amount shall be funded by the Authority as follows: (i) On the Initial Authority Contribution Date and on or before the [third] Business Day after the [22nd] day of each calendar month thereafter until the Final Authority Contribution Date, the Authority shall deposit into the Construction Funds Trust, for allocation to the Project Account established for deposit of the Authority Contribution Amount (the “Authority Contribution Trust Account”), the money generated by the tax imposed pursuant to Section 33(1) of the Act before the issuance of the County Bonds, net of (A) any amounts required by the County to be used to fund reserves or other amounts pursuant to Section 34(2)(b) of the Act and (B) any amounts permitted to be paid pursuant to Section 34(2)(c) of the Act.1 Such deposits shall be made by wire transfer of federal funds. (ii) On the Final Authority Contribution Date, the Authority shall deposit the balance of the Authority Contribution Amount into the Authority Contribution Trust Account. Such deposit shall be made by wire transfer of federal funds.
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Authority Contribution Amount. The Authority Contribution Amount shall be funded by the Authority as follows: (i) On the Initial Authority Contribution Date and on or before the [third] Business Day after the [22nd] day of each calendar month thereafter until the Final Authority Contribution Date, the Authority shall deposit into the Construction Funds Trust, for allocation to the Project Account established for deposit of the Authority Contribution Amount (the “Authority Contribution Trust Account”), the money generated by the tax imposed pursuant to Section 33(1) of the Act before the issuance of the County Bonds, net of (A) any amounts required by the County to be used to fund reserves or other amounts pursuant to Section 34(2)(b) of the Act, and (B) any amounts permitted to be paid pursuant to Section 34(2)(c) of the Act; provided, however, that such deposits to the Authority Contribution Trust Account made pursuant to this Section 3.2(b)(i) on the Initial Authority Contribution Date shall not be less than $25,000,000. Such deposits shall be made by wire transfer of federal funds. (ii) On the Final Authority Contribution Date, the Authority shall deposit the balance of the Authority Contribution Amount into the Authority Contribution Trust Account. Such deposit shall be made by wire transfer of federal funds.
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Authority Contribution Amount. The Authority Contribution Amount shall be funded by the Authority as follows:
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Related to Authority Contribution Amount

  • Contribution Amounts The Company, the Selling Shareholders and the Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 8 were determined by pro rata allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 8.6. The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 8, no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity.

  • Contribution Payment To the extent the indemnification provided for under any provision of this Agreement is determined (in the manner hereinabove provided) not to be permitted under applicable law, the Company, in lieu of indemnifying Indemnitee, shall, to the extent permitted by law, contribute to the amount of any and all Indemnifiable Liabilities incurred or paid by Indemnitee for which such indemnification is not permitted. The amount the Company contributes shall be in such proportion as is appropriate to reflect the relative fault of Indemnitee, on the one hand, and of the Company and any and all other parties (including officers and directors of the Company other than Indemnitee) who may be at fault (collectively, including the Company, the "Third Parties"), on the other hand.

  • Excess Finance Charge Collections Any amounts remaining in the Cap Proceeds Account, the Collection Account and the Payment Reserve Account, to the extent of any Available Series 1998-3 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsection 4.9(a)(i) through (xii) of the Agreement, shall be treated as Excess Finance Charge Collections, and the Servicer shall direct the Trustee in writing on each Business Day to withdraw such amounts from the Collection Account and to first make such amounts available to pay to Securityholders of other Series to the extent of shortfalls, if any, in amounts payable to such Securityholders from Finance Charge Collections allocated to such other Series, then to pay any unpaid commercially reasonable costs and expenses of a Successor Servicer, if any, and then on each Business Day other than the Default Recognition Date, to pay to the Transferor to be treated as "Transferor Retained Finance Charge Collections," and, on each Default Recognition Date, to pay any remaining Excess Finance Charge Collections to the Transferor. Notwithstanding the foregoing, if on any Default Recognition Date the sum of the amount of Available Series 1998-3 Finance Charge Collections (including, all amounts on deposit in the Payment Reserve Account) and Transferor Retained Finance Charge Collections is less than the Series Default Amount for such Default Recognition Date, the Servicer shall apply amounts deposited in the Accumulation Period Reserve Account pursuant to subsection 4.9(a)(xi) of the Agreement and the Spread Account pursuant to subsection 4.9(a)(viii) of the Agreement during the then current Monthly Period in accordance with subsection 4.9(a)(iii) of the Agreement to the extent of such shortfall.

  • Funding Amount “Funding Amount” means an amount not to exceed One Million Four Hundred Thousand Dollars ($1,400,000.00) of tax increment finance revenues to be used for paying the costs associated with the construction, equipping, inspection, and delivery of the Local Public Improvements.