Extension of Investment Period Sample Clauses

Extension of Investment Period. Pursuant to Section 12-44-30(13) of the Act, the investment period under the Fee Agreement with respect to the Project is hereby extended to include the period beginning January 1, 2018 to December 31, 2020. Should the Company fail to invest an additional $1,500,000 in the Project by December 31, 2020, then the investment made between January 1, 2012 and December 31, 2020 shall revert retroactively to normal ad valorem property tax treatment and the Company shall pay to the County, within 120 days after December 31, 2020, the difference between the total amount of fees actually paid to the County pursuant to the Fee Agreement as extended by this Extension Agreement and the total amount of the normal ad valorem property tax payments which would have been paid, if any (a “Deficiency”), which such Deficiency shall be subject to interest at the rate provided in Section 12-54-25 of the Code (or any successor provision).
Sample 1
AutoNDA by SimpleDocs
Extension of Investment Period. Pursuant to Section 4-12-30(13) of the Act, the investment period under the Fee Agreement with respect to the Project is hereby extended to include the period beginning January 1, 2017 to December 31, 2017. Should the Company fail to invest an additional $5,000,000 in the Project by December 31, 2017, then, and relating solely to the investment made between January 1, 2017 and December 31, 2017 which shall revert retroactively to normal ad valorem property tax treatment, the Company shall pay to the County, within 120 days after the December 31, 2017, the difference between the total amount of fees actually paid to the County pursuant to this Agreement (taking into account all Infrastructure Improvement Credits received) and the total amount of the normal ad valorem property tax payments which would have been paid, if any (a “Deficiency”), which such Deficiency shall be subject to interest at the rate provided in Section 12-54-25 of the Code (or any successor provision).
Sample 1
Extension of Investment Period. Each Member shall have the three (3) options to extend the Investment Period for successive periods of one (1) year each by notice given to the other Member at least thirty (30) days prior to the then applicable expiration date of the Investment Period; provided, however, that in no event shall the Investment Period be extended as a result of any election by either Member to a date later than the date which is eight (8) years after the date hereof; and provided further, however, that the exercise of any such option shall not be effective to extend the Investment Period unless the other Member consents to such extension by notice given to the electing Member within ten (10) business days after the date of such notice of extension. If the non-electing Member shall fail to give notice of its consent within such ten (10) business day period, then such Member shall be deemed to have withheld its consent, in which case the Investment Period shall not be extended. Notwithstanding the foregoing, the consent of the Sunrise Member shall not be required with respect to any election made by the AEW Member to extend the Investment Period if, as of the date of the AEW Member's notice of its election to extend, there shall exist any "Net Cash Shortfall Event" or "Occupancy Shortfall Event" under the terms of the Master Agreement, it being agreed that in such event, the AEW Member shall have the right to extend the Investment Period without the requirement for any consent of the Sunrise Member. [This Space Intentionally Left Blank]
Sample 1
Extension of Investment Period. The Company shall not extend the Investment Period (as such term is defined in the LLC Agreement) more than twice, and not for a period longer that two (2) years from the date on which the Investment Period is presently scheduled to expire pursuant to the LLC Agreement.
Sample 1

Related to Extension of Investment Period

  • Extension of Initial Contract Period 31.1 Subject to clause 13 (Price Adjustment on Extension of the Initial Contract Period), the Authority may, by giving written notice to the Contractor not less than three (3) Month(s) prior to the last day of the Initial Contract Period, extend the Contract for such further period as may be specified in the notice. The provisions of the Contract will apply (subject to any Variation or adjustment to the Contract Price pursuant to clause 13) throughout any such extended period.

  • Termination of Investment The obligation of the Investor to make an Advance to the Company pursuant to this Agreement shall terminate permanently (including with respect to an Advance Date that has not yet occurred) in the event that (i) there shall occur any stop order or suspension of the effectiveness of the Registration Statement for an aggregate of fifty (50) Trading Days, other than due to the acts of the Investor, during the Commitment Period, and (ii) the Company shall at any time fail materially to comply with the requirements of Article VI and such failure is not cured within thirty (30) days after receipt of written notice from the Investor, provided, however, that this termination provision shall not apply to any period commencing upon the filing of a post-effective amendment to such Registration Statement and ending upon the date on which such post effective amendment is declared effective by the SEC.

  • Extension of Interest Payment Period The Company shall have the right, at any time and from time to time during the term of the Debentures so long as no Event of Default has occurred and is continuing, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity Date or end on a date other than an Interest Payment Date. To the extent permitted by applicable law, interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.1, shall bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment Period, the Company may further extend such period so long as no Event of Default has occurred and is continuing, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures or end on a date other than an Interest Payment Date. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

  • Promotion of Investment Member States shall cooperate in increasing awareness of ASEAN as an integrated investment area in order to increase foreign investment into ASEAN and intra-ASEAN investments through, among others:

  • Promotion of Investments 1. Each Contracting Party shall promote investments in its territory by investors of the other Contracting Party and shall accept such investments in accordance with its legislation.

  • Extension of Commitment Termination Date The Borrower may, no more frequently than once each year by delivering written notice to the Managing Agents (with a copy to the Program Agent), request the Lenders to extend the Commitment Termination Date for an additional 364 days past the then applicable Commitment Termination Date, with such extension to become effective with respect to any Lender Group, as of the date one or more Committed Lenders having Commitments equal to 100% of such Lender Group’s Lender Group Limit shall in their sole discretion consent to such extension (the Lenders in such a Lender Group, “Extending Lenders”). Any such request shall be subject to the following conditions: (i) at no time will any Commitment have a term of more than 364 days and, if any such request would result in a term of more than 364 days, such request shall be deemed to have been made for such number of days so that, after giving effect to such extension on the date requested, such term will not exceed 364 days, (ii) none of the Lenders will have any obligation to extend any Commitment, (iii) any such extension of the Commitment Termination Date will be effective only upon the written agreement of at least one Committed Lender and the Borrower and (iv) any request for such extension shall be made at least sixty (60) days prior to the then current Commitment Termination Date. The Managing Agent for each applicable Committed Lender will respond to any such request within thirty (30) days (with a copy to the Paying Agent) but in any event no earlier than thirty (30) days prior to the then current Commitment Termination Date, provided that any Managing Agent’s failure to respond within such period shall be deemed to be a rejection of the requested extension.

  • Extension of the Expiry Date; Non-Extension Advance No earlier than the 60th day and no later than the 40th day prior to the then effective Expiry Date (unless such Expiry Date is on or after the date that is 15 days after the Final Legal Distribution Date for the Class A Certificates), the Borrower shall request that the Liquidity Provider extend the Expiry Date to the earlier of (i) the date that is 15 days after the Final Legal Distribution Date for the Class A Certificates and (ii) the date that is the day immediately preceding the 364th day occurring after the last day of the Consent Period (as hereinafter defined). Whether or not the Borrower has made such request, the Liquidity Provider shall advise the Borrower no earlier than the 40th day (or, if earlier, the date of the Liquidity Provider’s receipt of such request, if any, from the Borrower) and no later than the 25th day prior to the then effective Expiry Date (such period, the “Consent Period”), whether, in its sole discretion, it agrees to so extend the Expiry Date. If the Liquidity Provider advises the Borrower on or before the date on which the Consent Period ends that such Expiry Date shall not be so extended, or fails to irrevocably and unconditionally advise the Borrower on or before the date on which the Consent Period ends that such Expiry Date shall be so extended (and, in each case, if the Liquidity Provider shall not have been replaced in accordance with Section 3.5(e) of the Intercreditor Agreement), the Borrower shall be entitled on and after the date on which the Consent Period ends (but prior to the then effective Expiry Date) to request a Non-Extension Advance in accordance with Section 2.02(b) hereof and Section 3.5(d) of the Intercreditor Agreement.

  • Initial Extension of Credit The obligation of Lender to make the initial Advance or issue the initial Letter of Credit is subject to the condition precedent that prior thereto Lender shall have received all of the documents set forth below in form and substance satisfactory to Lender.

  • Protection of Investments 1. All investments, whether direct or indirect, made by investors of one Contracting Party shall enjoy a fair and equitable treatment in the territory of the other Contracting Party.

  • Duration of Interest Periods 32 2.9 Interest Rates and Payments of Interest.................................... 33 2.10

Time is Money Join Law Insider Premium to draft better contracts faster.