Industrial Revenue Bonds. The Xxxxxx Coffee Company has indebtedness under the following lease agreement in connection with certain Industrial Revenue Bonds listed below.
Industrial Revenue Bonds. The Company and its Subsidiaries are not indebted under any industrial revenue bonds.
Industrial Revenue Bonds. All documents evidencing, securing or otherwise relating to the Industrial Revenue Bonds.
Industrial Revenue Bonds. (a) The City declares an intent to issue, pursuant to K.S.A. 12-1740 et seq. (the “IRB Act”), industrial revenue bonds, in one or more series, in an aggregate principal amount not to exceed $35,000,000 (the “IRB”) to finance construction of the Parcel A Facility and Parcel B Facility, subject to satisfaction of the conditions set forth in Section 8.01(d) and the Letter of Intent.
Industrial Revenue Bonds. The City would agree to issue industrial revenue bonds, in one or more series (the “IRB’s) to finance eligible capital expenditures for the KHSC, SHF, Hotel and Culinary Center portions of the Project. It is anticipated that the Developer would arrange its own conventional financing to construct and equip the Projects. The IRB’s would be issued after completion of the Projects if the performance requirements of the DA are satisfied. It is further anticipated that the IRB’s would be purchased by the Developer or a related entity. The IRB’s for the KHSC, SHF, Hotel and Culinary Center would provide exemption for expenditures subject to sales taxes. In addition, the IRB’s for the KHSC and SHF would provide for an ad valorem property tax exemptions in amounts and for periods prescribed by City policy. Note, ad valorem property tax exemption is subject to the City modifying boundaries of existing project areas within the Center City South Tax Increment District (the “TIF District”) and standard City IRB Policy and covenants; including termination of property tax abatements and “claw back” provisions if Developer does not comply with capital expenditure and employment covenants.
Industrial Revenue Bonds. Developer has requested industrial revenue bond ("IRB") financing in order to pay certain project costs pursuant to K.S.A. 12-1741 et seq. Subject to all Applicable Laws and Requirements and subject further to compliance by Developer with all of the UG's requirements for the issuance of IRBs, the parties hereby agree that Developer may use IRB financing to obtain an exemption on sales taxes for construction materials for the Project. However, the parties hereby understand and agree that IRB financing shall not be used for abatement of ad valorem property taxes for the Project or the Project Site, subject to the terms set forth in Section 4.1(b) below.
Industrial Revenue Bonds. (A) US Borrower shall, on or prior to March 24, 2005, cause the redemption of all of the Nebraska IRBs, and (B) US Borrower shall promptly after such redemption (but in no event later than April 3, 2005) repay all amounts owing in connection therewith and cause all agreements pertaining thereto (including without limitation the IRB Indenture, the IRB Lease Agreement, and that certain Irrevocable Letter of Credit Number SB/IRB 169 dated as of October 30, 1997 issued by M&I Mxxxxxxx & Ixxxxx Bank in favor of Norwest Bank Wisconsin, National Association as Trustee) to be terminated and exercise US Borrower’s purchase option set forth in Section 10.1 of the IRB Lease Agreement.
Industrial Revenue Bonds. The term "Industrial Revenue Bonds" means the financings described in Schedule 1.34.
Industrial Revenue Bonds. The Company, as tenant, shall have delivered to the City of Lawrence, Kansas (the "City"), all of the documentation necessary to redeem and pay the outstanding City of Lawrence, Kansas, Taxable Industrial Revenue Bonds, Series 1992 maturing on and after April 1, 1997 and the outstanding City of Lawrence, Kansas, Taxable Industrial Revenue Bonds, Series A, 1993 maturing on and after October 1, 1997, and the City shall have approved and authorized such redemption and issued a notice thereof to the bondholders.
Industrial Revenue Bonds. As of the date of the initial Loans hereunder, (i) US Borrower has delivered to the IRB Trustee a notice of prepayment pursuant to Section 5.3 of the IRB Lease Agreement and will promptly cause the IRB Trustee to deliver the redemption notice required by Section 302 of the IRB Indenture to each holder of the Nebraska IRBs in order to effectuate the redemption of all outstanding Nebraska IRBs in accordance with Section 403 of the IRB Indenture, (ii) the outstanding principal amount of the Nebraska IRBs is $1,200,000 and all interest and other amounts owed by US Borrower and its Affiliates in connection with the Nebraska IRBs (including without limitation in connection with the IRB Indenture, the IRB Lease Agreement and all other related agreements) are estimated not to exceed $50,000, and (iii) no “Event of Default” (as defined in the IRB Lease Agreement and the IRB Indenture) has occurred under the IRB Lease Agreement or the IRB Indenture. US Borrower further represents and warrants that the actions described in subsection 12(l) hereof shall be effectuated solely by delivering the redemption notice described in clause (i) above and paying the obligations described in clause (ii) above and that no prepayment fee, premium, penalty or similar costs (other than a nominal amount payable in connection with the purchase option under Section 10.1 of the IRB Lease Agreement and customary transaction expenses, including legal fees, of the parties that are reimbursable by the US Borrower) shall be incurred in connection therewith.
