Bonds or Other Obligations Sample Clauses

Bonds or Other Obligations. The construction costs of the Infrastructure Improvements and of the Building B2 Parking Structure shall be financed with the proceeds of limited obligation revenue bonds issued by the ELBRA (the XXXXX Xxxx)which will be paid by incremental tax revenue pledged and authorized by a resolution adopted by the City Council approving Brownfiled plan #24 and shall be further guaranteed by the Developer as set forth below. only. the income from the TIF and which will be. Such bond shall be without any recourse against the City or the ELBRA. beyond that. It is intended that Tthe ELBRA Obligation Bond shall be sold to the Michigan Strategic Fund (the “MSF”) pursuant to a purchase contract. It is also intended that Iin order to obtain funds to purchase the ELBRA ObligationBond, the MSF shall authorize and issue its own limited obligation revenue bonds (the “MSF Bonds”) which shall may be issued pursuant to a Bond Trust Indenture (the “Indenture”) to be entered into between the MSF and the trustee for the MSF Bonds (the “Trustee”). If the proceeds of the sale of the bonds are insufficient to pay for the infrastructure improvements, including Building B2, Developer shall pay the difference in order to complete the project. As security for the ELBRA ObligationBond, the ELBRA will authorize, pursuant to the a statutory lien, the capture and pledge of 100% of the BRA Plan #24 eligible incremental taxes for 30 years for payment of the debt service on the ELBRA Obligation Bond and to reimburse the Developer for the cost of eligible activities as set forth in BRA Plan #24 as adopted by City Council resolution.. The Project will be constructed within the DDA’s current development area, and accordingly the DDA will authorize the payment of 100% of the Project related DDA tax increment revenues until the end of the current DDA Plan as necessary. It is also anticipated that as a second level of security for the MSF Bonds the Indenture will provide for the Developer, if necessary, to make certain payments to the Trustee, and such payments shall be used to pay debt service on the MSF Bonds, in the event that the ELBRA and DDA tax increment revenues, together with any debt service reserve funds and other security under the Indenture, are not sufficient to pay debt service on the MSF Bonds. Proceeds from the sale of the MSF Bonds shall be used for the planning, design, financing and construction of the Infrastructure Improvements and Building B2 Parking Structure, paying capitalized...
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Related to Bonds or Other Obligations

  • No Other Obligations The benefits payable to Executive under this Agreement are not in lieu of any benefits payable under any employee benefit plan, program or arrangement of the Company, except as specifically provided herein, and Executive will receive such benefits or payments, if any, as he may be entitled to receive pursuant to the terms of such plans, programs and arrangements. Except for the obligations of the Company provided by the foregoing and this Section 5, the Company shall have no further obligations to Executive upon his termination of employment.

  • Breach of other obligations any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or

  • Payment of Other Obligations Obligations other than Loans, including LC Obligations and Extraordinary Expenses, shall be paid by Borrowers as provided in the Loan Documents or, if no payment date is specified, on demand.

  • Further Obligations In all matters relating to the performance of this Agreement, INTECH shall act in conformity with the Trust's Trust Instrument, bylaws and currently effective registration statements under the 1940 Act and the 1933 Act and any amendments or supplements thereto (the "Registration Statements") and with the written policies, procedures and guidelines of the Fund, and written instructions and directions of the Trustees and Janus and shall comply with the requirements of the 1940 Act, the Advisers Act, the rules thereunder, and all other applicable federal and state laws and regulations. Janus agrees to provide to INTECH copies of the Trust's Trust Instrument, bylaws, Registration Statement, written policies, procedures and guidelines and written instructions and directions of the Trustees and Janus, and any amendments or supplements to any of them at, or, if practicable, before the time such materials become effective.

  • Other Obligations Borrower is not in default on any obligation for borrowed money, any purchase money obligation or any other material lease, commitment, contract, instrument or obligation.

  • No Other Indebtedness On the Closing Date and after giving effect to the transactions contemplated hereby, none of the Loan Parties nor any of their Subsidiaries have any Indebtedness other than Indebtedness permitted under Section 8.1.

  • Subordination of Other Obligations Any Indebtedness of Borrower or any Guarantor now or hereafter held by any Guarantor (the “Obligee Guarantor”) is hereby subordinated in right of payment to the Guaranteed Obligations, and any such Indebtedness collected or received by the Obligee Guarantor after an Event of Default has occurred and is continuing shall be held in trust for Administrative Agent on behalf of Beneficiaries and shall forthwith be paid over to Administrative Agent for the benefit of Beneficiaries to be credited and applied against the Guaranteed Obligations but without affecting, impairing or limiting in any manner the liability of the Obligee Guarantor under any other provision hereof.

  • Obligations of the Holder a. At least five (5) calendar days prior to the first anticipated filing date of a Registration Statement the Company shall notify Holder in writing of the information the Company requires from Holder. It shall be a condition precedent to the obligations of the Company to complete the registration pursuant to this Agreement with respect to the Registrable Securities of the Holder that Holder shall furnish in writing to the Company such information regarding itself, the Registrable Securities held by it and the intended method of disposition of the Registrable Securities held by it as shall reasonably be required to effect the registration of such Registrable Securities and shall execute such documents in connection with such registration as the Company may reasonably request. The Holder covenants and agrees that, in connection with any resale of Registrable Securities by it pursuant to a Registration Statement, it shall comply with the "Plan of Distribution" section of the current prospectus relating to such Registration Statement.

  • Obligations of the Holders In connection with the registration of the Registrable Securities, the Holders shall have the following obligations:

  • Obligations During the Employment Term, Executive will perform his duties faithfully and to the best of his ability and will devote his full business efforts and time to the Company. For the duration of the Employment Term, Executive agrees not to actively engage in any other employment, occupation or consulting activity for any direct or indirect remuneration without the prior approval of the Board.

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