Common use of Basic Lease Payments Clause in Contracts

Basic Lease Payments. The principal portion and the interest portion of the Basic Lease Payments, the Lease Payment Dates (each June 15 and December 15, commencing June 15, 2020) and the remaining principal portion with respect to the Series 2020A-1 Facilities to be lease purchased and the Series 2020A Certificates attributable to such Series 2020A-1 Facilities are set forth in Exhibit C hereto. If, upon delivery of the Certificate of Acceptance indicating completion of the acquisition, construction, installation and payment of all costs of the Series 2020A-1 Facilities and certification of the final cost per student station of such Series 2020A-1 Facilities by the School Board to the State Department of Education pursuant Section 1013.64, Florida Statutes, or if the School Board determines not to acquire, construct or install one or more components of the Series 2020A-1 Facilities, it is determined that the cost of, and consequently the actual amount of Basic Lease Payments for, a Series 2020A-1 Facility is different from the amount set forth herein, Exhibit C shall be revised as necessary to reflect the adjusted Schedule of Basic Lease Payments for all Series 2020A-1 Facilities to be lease-purchased. The Composite Schedule of Basic Lease Payments shall be no less than the principal and interest payments with respect to the portion of the Series 2020A Certificates relating to the Series 2020A-1 Facilities and shall only be amended in the event of a prepayment or a prepayment deposit of the principal portion of Basic Lease Payments represented by such portion of the Series 2020A Certificates pursuant to Section 7.2 or 7.3 of the Master Lease, and prepayment or defeasance of a portion of Series 2020A Certificates pursuant to Article III of the Series 2020A Supplemental Trust Agreement or Section 801 of the Master Trust Agreement. The interest portion of the Basic Lease Payments represented by the Series 2020A Certificates, expressed as an annual interest rate, is exempt from the limitations on interest rates set forth in Section 215.84, Florida Statutes, since the Series 2020A Certificates are rated within the three highest rating categories by a nationally recognized rating service.

Basic Lease Payments. The principal portion and the interest portion of the Basic Lease Payments, the Lease Payment Dates (each June 15 and December 15, commencing June 15, 20202022) and the remaining principal portion with respect to the Series 2020A-1 2022B-1 Facilities to be lease purchased and the Series 2020A 2022B Certificates attributable to such Series 2020A-1 2022B-1 Facilities are set forth in Exhibit C hereto. If, upon delivery of the Certificate of Acceptance indicating completion of the acquisition, construction, installation and payment of all costs of the Series 2020A-1 2022B-1 Facilities and certification of the final cost per student station of such Series 2020A-1 2022B-1 Facilities by the School Board to the State Department of Education pursuant Section 1013.64, Florida Statutes, or if the School Board determines not to acquire, construct or install one or more components of the Series 2020A-1 2022B-1 Facilities, it is determined that the cost of, and consequently the actual amount of Basic Lease Payments for, a Series 2020A-1 2022B-1 Facility is different from the amount set forth herein, Exhibit C shall be revised as necessary to reflect the adjusted Schedule of Basic Lease Payments for all Series 2020A-1 2022B-1 Facilities to be lease-purchased. The Composite Schedule of Basic Lease Payments shall be no less than the principal and interest payments with respect to the portion of the Series 2020A 2022B Certificates relating to the Series 2020A-1 2022B-1 Facilities and shall only be amended in the event of a prepayment or a prepayment deposit of the principal portion of Basic Lease Payments represented by such portion of the Series 2020A 2022B Certificates pursuant to Section 7.2 or 7.3 of the Master Lease, and prepayment or defeasance of a portion of Series 2020A 2022B Certificates pursuant to Article III of the Series 2020A 2022B Supplemental Trust Agreement or Section 801 of the Master Trust Agreement. The interest portion of the Basic Lease Payments represented by the Series 2020A 2022B Certificates, expressed as an annual interest rate, is exempt from the limitations on interest rates set forth in Section 215.84, Florida Statutes, since the Series 2020A 2022B Certificates are rated within the three highest rating categories by a nationally recognized rating service.

Basic Lease Payments. The principal portion and the interest portion of the Basic Lease Payments, the Lease Payment Dates (each June 15 and December 15, commencing June 15, 2020) and the remaining principal portion with respect to the Series 2020A-1 2020A-2 Facilities to be lease purchased and the Series 2020A Certificates attributable to such Series 2020A-1 2020A-2 Facilities are set forth in Exhibit C B hereto. If, upon delivery of the Certificate of Acceptance indicating completion of the acquisition, construction, installation and payment of all costs of the Series 2020A-1 Facilities and certification of the final cost per student station of such Series 2020A-1 Facilities by the School Board to the State Department of Education pursuant Section 1013.64, Florida Statutes2020A-2 Facilities, or if the School Board determines not to acquire, construct or install one or more components of the Series 2020A-1 2020A- 2 Facilities, it is determined that the cost of, and consequently the actual amount of Basic Lease Payments for, a Series 2020A-1 2020A-2 Facility is different from the amount set forth herein, Exhibit C B shall be revised as necessary to reflect the adjusted Schedule of Basic Lease Payments for all Series 2020A-1 2020A-2 Facilities to be lease-purchased. The Composite Schedule of Basic Lease Payments shall be no less than the principal and interest payments with respect to the portion of the Series 2020A Certificates relating to the Series 2020A-1 2020A-2 Facilities and shall only be amended in the event of a prepayment or a prepayment deposit of the principal portion of Basic Lease Payments represented by such portion of the Series 2020A Certificates pursuant to Section 7.2 or 7.3 of the Master Lease, and prepayment or defeasance of a portion of Series 2020A Certificates pursuant to Article III of the Series 2020A Supplemental Trust Agreement or Section 801 of the Master Trust Agreement. The interest portion of the Basic Lease Payments represented by the Series 2020A Certificates, expressed as an annual interest rate, is exempt from the limitations on interest rates set forth in Section 215.84, Florida Statutes, since the Series 2020A Certificates are rated within the three highest rating categories by a nationally recognized rating service.

Basic Lease Payments. The principal portion and the interest portion of the Basic Lease Payments, the Lease Payment Dates (each June 15 and December 15, commencing June 15, 20202022) and the remaining principal portion with respect to the Series 2020A-1 Facilities 2022B-2 Facility to be lease purchased and the Series 2020A 2022B Certificates attributable to such Series 2020A-1 Facilities 2022B-2 Facility are set forth in Exhibit C B hereto. If, upon delivery of the Certificate of Acceptance indicating completion of the acquisition, construction, installation and payment of all costs of the Series 2020A-1 Facilities and certification of the final cost per student station of such Series 2020A-1 Facilities by the School Board to the State Department of Education pursuant Section 1013.64, Florida Statutes2022B-2 Facility, or if the School Board determines not to acquire, construct or install one or more components of the Series 2020A-1 Facilities2022B- 2 Facility, it is determined that the cost of, and consequently the actual amount of Basic Lease Payments for, a Series 2020A-1 2022B-2 Facility is different from the amount set forth herein, Exhibit C B shall be revised as necessary to reflect the adjusted Schedule of Basic Lease Payments for all Series 2020A-1 Facilities 2022B-2 Facility to be lease-purchased. The Composite Schedule of Basic Lease Payments shall be no less than the principal and interest payments with respect to the portion of the Series 2020A 2022B Certificates relating to the Series 2020A-1 Facilities 2022B-2 Facility and shall only be amended in the event of a prepayment or a prepayment deposit of the principal portion of Basic Lease Payments represented by such portion of the Series 2020A 2022B Certificates pursuant to Section 7.2 or 7.3 of the Master Lease, and prepayment or defeasance of a portion of Series 2020A 2022B Certificates pursuant to Article III of the Series 2020A 2022B Supplemental Trust Agreement or Section 801 of the Master Trust Agreement. The interest portion of the Basic Lease Payments represented by the Series 2020A 2022B Certificates, expressed as an annual interest rate, is exempt from the limitations on interest rates set forth in Section 215.84, Florida Statutes, since the Series 2020A 2022B Certificates are rated within the three highest rating categories by a nationally recognized rating service.