Conditional City Increment Sample Clauses

Conditional City Increment. Developer and City agree that, if permitted under existing law, City would have subordinated its right to receive its share of Increment other than Net Available Increment to the payment of debt service on IFD Debt. However, under existing law (including the IFD Act), the City cannot do so. Accordingly, City and Developer agree that, for each IFD, City will allocate in the IFP Conditional City Increment to such IFD for the limited purpose of paying debt service on IFD Debt in the event that Net Available Increment is insufficient for that purpose. For each IFD, the IFP will provide that, after first paying or setting aside amounts needed for debt service due during such Fiscal Year on IFD Debt for such IFD secured by or payable from Net Available Increment, such IFD shall repay the City out of Net Available Increment for any Conditional City Increment used to pay debt service on IFD Debt for such IFD as set forth in this Section 3.3(e) in an amount equal to the Conditional City Increment used to pay debt service on the IFD Debt plus interest through the date of repayment of the amount of Conditional City Increment used to pay debt service on the IFD Debt at the Default Interest Rate.
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Conditional City Increment. Developer and City agree that, if permitted under existing law, City would have subordinated its right to receive its share of Increment other than Net Available Increment to the payment of debt service on IFD Debt. However, under existing law (including the IFD Act), the City cannot do so. Accordingly, City and Developer agree that, for each IFD, City will allocate in the IFP Conditional City Increment to such IFD for the limited purpose of paying debt service on IFD Debt in the event that Net Available Increment is insufficient for that purpose. In the event that Conditional City Increment is used to pay debt service on the IFD Debt, City will be entitled, in the manner set forth in Section 3.5(d), to retain in its General Fund, without any limitation as to use under this Financing Plan, Net Available Increment in an amount equal to the Conditional City Increment used to pay debt service on the IFD Debt plus interest through the date of repayment of the amount of Conditional City Increment used to pay debt service on the IFD Debt at the Default Interest Rate.
Sample 1

Related to Conditional City Increment

  • Longevity Increment All unit members who have completed the required years of District service, as defined below, shall be eligible to receive a longevity increment.

  • Longevity Increments 11.6.1 Each regular classified employee shall receive a two-range increase (5%) upon completion of five (5) years of satisfactory and continuous service. This increase will become effective at the beginning of the sixth year.

  • Anniversary Increments Employees shall advance on the wage grid on their anniversary date in the classification.

  • ANNUAL INCREMENT (1) Staff shall be entitled to an annual increment which shall be negotiated with the Union annually.

  • Additional Commitments The Parties may negotiate commitments with respect to measures affecting trade in services not subject to scheduling under Article 106 (National Treatment) or Article 107 (Market Access), including those regarding qualifications, standards or licensing matters. Such commitments shall be inscribed in a Party's Schedule.

  • Annual Increments (a) For regular full-time Employees, a one-step increase within the salary range shall become effective as of the first day of April or the first day of October as the case may be. Where the anniversary date of an initial appointment falls between January 1 and June 30, the date of the increment increase will be April 1, and where between July 1 and December 31, the date of the increment increase will be October 1.

  • SENIORITY INCREMENTS 275. Entry At The First Step. Full time employees appointed on or after July 1, 2014, shall advance to the second step upon completion of one year’s service and to each successive step upon completion of the one year required service.

  • Increment Date (a) Full-time Employees shall be eligible for increments annually from their date of employment.

  • Interim Extension Amendment a. Prior to or on the expiration date of this Contract, the Parties agree that this Contract can be extended as provided under this Section.

  • Pay Increments 44.5.1 Except as provided in sub-clauses 44.5.4 and 44.5.5 of clause 44.5 an employee holding an appointment at one of the classification levels listed in Schedule 1 of this Agreement shall be granted pay increments on completion of the applicable pay increment period until he reaches the maximum rate in the scale of rates for the classification level to which he is appointed.

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