COLLECTION OF PLEDGED REVENUES. The Authority shall comply with all requirements of the Act and the Memorandum of Understanding so as to assure the timely collection of Pledged Revenues, including without limitation, the enforcement of delinquent Special Assessments and Special Taxes. The Authority shall not agree to any amendments to, or termination of, the Memorandum of Understanding that may materially and adversely affect the amount of Pledged Revenues received or the time such amounts are received unless the Majority Holders have consented in accordance with procedures substantially identical to those employed for Supplemental Indentures contemplated by Section 14.2 hereof. Without limiting the scope of any other permissible amendments to the Memorandum of Understanding, the Memorandum of Understanding may be amended without the consent of any Owner for purposes substantially analogous to those enumerated for Supplemental Indentures entered into pursuant to Section 14.1 hereof. Not later than the 15th day of each month, the Trustee shall provide the Administrator with reports showing the amount then on deposit in all funds and accounts held by the Trustee hereunder. Each year by April 5, the Administrator shall inform the Authority, in writing, of the amount of Pledged Revenues collected or to be collected in accordance with the Memorandum of Understanding, including the installments of Special Assessments or Special Taxes, if any, needed to be collected pursuant to the Memorandum of Understanding to provide for payment of the Bonds and Administrative Expenses. The receipt of or failure to receive such reports by the Administrator from the Trustee shall in no way affect the obligations of the Administrator under this Section 9.3. Upon receipt of such reports, the Administrator shall ascertain the relevant parcels on which the Special Assessments or Special Taxes are to be collected, taking into account any parcel splits during the preceding and then current Fiscal Year. On or before the date immediately preceding the date determined pursuant to the next sentence of each year, the Authority shall approve the amount of the Special Assessments or Special Taxes to be collected for such calendar year in the District. Each year by April 5, unless another date is specified for such year by the City by notice from the City Representative, the Authority shall request the City to collect the amount of the Special Assessments or Special Taxes to be collected pursuant to the Memorandum of Under...
COLLECTION OF PLEDGED REVENUES. The Agency shall use its best efforts to collect all Pledged Revenues and shall take no action to impair the collection of the Pledged Revenues.
COLLECTION OF PLEDGED REVENUES. The Borrower covenants to do all things and take all actions necessary on its part to maintain its eligibility and ability to receive the full amount of the Sales Tax Revenues. The Borrower shall take all necessary action required to enforce and collect the Sales Tax Revenues in accordance with the Interlocal Agreement, and shall exercise all legally available remedies to enforce such collections. The Borrower covenants that it will not amend the Interlocal Agreement to change the allocation of Pledged Revenues to the Borrower below seventy eight percent (78%) of the Sales Surtax collected by the Florida Department of Revenue, unless the Department has provided its prior written consent to such amendment. For the purposes of this covenant, any amendment of the Interlocal Agreement by the signatories thereto shall be deemed to be an act of the Borrower. The Borrower also covenants that it will not amend the Master Resolution pursuant to Section 8.02 thereof without the Department’s prior written consent. DRAFT
