COLLECTION OF PLEDGED REVENUES Sample Clauses

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...
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COLLECTION OF PLEDGED REVENUES. The Agency shall use its best efforts to collect all Pledged Revenues and other amounts due to it, and shall take no action to impair the collection of the Pledged Revenues.
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Related to COLLECTION OF PLEDGED REVENUES

  • Transfer Upon Realization of Pledged, Mortgaged or Charged Escrow Securities (1) You may transfer within escrow to a financial institution the escrow securities you have pledged, mortgaged or charged under section 4.2 to that financial institution as collateral for a loan on realization of the loan.

  • COLLECTION OF CHARGES 16.1 A Sector Association may request the consent of the Administrator to collect charges due from Operators to the Administrator in respect of facilities under the charging scheme.

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  • What If I Pledge My Account? If you use (pledge) all or part of your Traditional IRA as security for a loan, then the portion so pledged will be treated as if distributed to you and will be taxable to you as ordinary income during the year in which you make such pledge. The 10% penalty tax on early distributions may also apply in addition to ordinary income taxes.

  • Collection of card When your application is approved by us, we may send you the card, and a renewal or replacement thereof, by ordinary post to the address we have on record for you. In the event you fail to receive the card and unauthorized transactions occur on the card account, you will not be liable for the balances arising therefrom provided you have not acted fraudulently or negligently. We are not liable to you for any loss or damage which you may suffer if you fail to receive the card.

  • Collection of Items We act only as your agent and we are not responsible for handling items for deposit or collection beyond the exercise of ordinary care. We are not liable for the negligence of any correspondent or for loss in transit, and each correspondent will only be liable for its own negligence. We may send any item for collection. Items drawn on an institution located outside the United States are handled on a collection basis only. You waive any notice of nonpayment, dishonor, or protest regarding items we purchase or receive for credit or collection to your account. We reserve the right to pursue collection of previously dishonored items at any time, including giving a payor financial institution extra time beyond any midnight deadline limits.

  • Application of Miscellaneous Proceeds upon Condemnation, Destruction, or Loss in Value of the Property In the event of a total taking, destruction, or loss in value of the Property, all of the Miscellaneous Proceeds will be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property (each, a “Partial Devaluation”) where the fair market value of the Property immediately before the Partial Devaluation is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the Partial Devaluation, a percentage of the Miscellaneous Proceeds will be applied to the sums secured by this Security Instrument unless Borrower and Lender otherwise agree in writing. The amount of the Miscellaneous Proceeds that will be so applied is determined by multiplying the total amount of the Miscellaneous Proceeds by a percentage calculated by taking (i) the total amount of the sums secured immediately before the Partial Devaluation, and dividing it by (ii) the fair market value of the Property immediately before the Partial Devaluation. Any balance of the Miscellaneous Proceeds will be paid to Borrower. In the event of a Partial Devaluation where the fair market value of the Property immediately before the Partial Devaluation is less than the amount of the sums secured immediately before the Partial Devaluation, all of the Miscellaneous Proceeds will be applied to the sums secured by this Security Instrument, whether or not the sums are then due, unless Borrower and Lender otherwise agree in writing.

  • Distributions; Xxxxxx Xxx Guaranty On or before each Determination Date (or as soon thereafter as is reasonably practicable), Xxxxxx Mae shall calculate the Lower Tier Distribution Amount for the current calendar month. On each Distribution Date, Xxxxxx Xxx shall withdraw from the Certificate Account the portion of the Lower Tier Distribution Amount distributable thereon and shall make the distributions to the Holders of the related Lower Tier Regular Classes in the respective amounts and in the applicable manner determined pursuant to Section 2.02. In the event that the amount on deposit in the Certificate Account on any Distribution Date shall be less than the applicable portion of the Lower Tier Distribution Amount distributable thereon, Xxxxxx Mae shall provide from its own funds the amount of any such insufficiency. In addition, in the event that (i) the applicable portion of the Lower Tier Distribution Amount shall be insufficient to pay all interest due and payable on the related Lower Tier Regular Classes on such Distribution Date or (ii) such Distribution Date is a Final Distribution Date for any Class and the distribution on such Distribution Date of the applicable portion of the Lower Tier Distribution Amount will not be sufficient to reduce the Class Balance of such Class to zero on such Final Distribution Date, then Xxxxxx Xxx shall (a) withdraw from the Certificate Account, such amount as shall be necessary to remedy such insufficiency and (b) to the extent that funds in the Certificate Account shall be insufficient therefor, apply its own funds towards remedying the same.

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