Insufficiency of Equipment Net Proceeds Sample Clauses

Insufficiency of Equipment Net Proceeds. If the Leased Property Equipment Net Proceeds are insufficient to pay in full the cost of any repair, restoration, modification or improvement referred to in Section 6.5, the District shall complete such replacement, repair, restoration, modification or improvement and pay any costs thereof in excess of the amount of the Leased Property Equipment Net Proceeds. The amount of the Leased Property Equipment Net Proceeds, if any, remaining after completing such repair, restoration, modification or improvement shall be applied to the payment of Lease Payments. If the District shall make any payments pursuant to this Section, the District shall not be entitled to any reimbursement therefor from the Bank nor shall the District be entitled to any diminution of the amounts payable under Section 4.4.
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Insufficiency of Equipment Net Proceeds. If the Equipment Net Proceeds are insufficient to pay in full the cost of any repair, restoration, modification or improvement referred to in Section 3.10, the District shall either (a) complete such replacement, repair, restoration, modification or improvement and pay any costs thereof in excess of the amount of the Equipment Net Proceeds, or (b) pay or cause to be paid to Seller the amount of the then applicable Prepayment Price plus all other amounts then owing hereunder, and, upon such payment, the Term of this Installment Sale Agreement shall terminate and Seller’s security interest in the Equipment shall terminate as provided in Section 4.01 hereof. The amount of the Equipment Net Proceeds remaining, if any, after completing such repair, restoration, modification or improvement or after paying such Prepayment Price plus all other amounts then owing hereunder shall be retained by the District. If the District shall make any payments pursuant to this Section 3.11, the District shall not be entitled to any reimbursement therefor from Seller nor shall the District be entitled to any diminution of the amounts payable under this Installment Sale Agreement to the extent any such amounts remain outstanding after the application of Equipment Net Proceeds.
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Related to Insufficiency of Equipment Net Proceeds

  • Insufficiency of Net Proceeds If the Net Proceeds are insufficient to pay in full the cost of any repair, restoration, modification or improvement referred to in Section 8.01, Lessee shall either (a) complete such replacement, repair, restoration, modification or improvement and pay any costs thereof in excess of the amount of the Net Proceeds, or (b) pay or cause to be paid to Lessor the amount of the then applicable Termination Value for the Equipment, and, upon such payment, the Lease Term shall terminate and Lessor’s security interest in the Equipment shall terminate as provided in Section 6.01 hereof. The amount of the Net Proceeds, if any, remaining after completing such repair, restoration, modification or improvement or after purchasing such Equipment shall be retained by Lessee. If Lessee shall make any payments pursuant to this Section, Lessee shall not be entitled to any reimbursement therefor from Lessor nor shall Lessee be entitled to any diminution of the amounts payable under Article IV.

  • Insurance Proceeds All proceeds of and any unearned premiums on any insurance policies covering the Property, including, without limitation, the right to receive and apply the proceeds of any insurance, judgments, or settlements made in lieu thereof, for damage to the Property;

  • Proceeds The Company shall use the proceeds from the issuance and sale of the Securities as set forth in “Use of Proceeds to issuer” in the Offering Circular.

  • Frequency of Evaluation Short form employees shall be evaluated one (1) time per year, which evaluation shall be completed no later than June 1.

  • Surplus; Shortage and Deficiency of Funds In accordance with RESPA, if there is a surplus of Funds held in escrow, Xxxxxx will account to Borrower for such surplus. If Xxxxxxxx’s Periodic Payment is delinquent by more than 30 days, Xxxxxx may retain the surplus in the escrow account for the payment of the Escrow Items. If there is a shortage or deficiency of Funds held in escrow, Lender will notify Borrower and Borrower will pay to Lender the amount necessary to make up the shortage or deficiency in accordance with RESPA. Upon payment in full of all sums secured by this Security Instrument, Xxxxxx will promptly refund to Borrower any Funds held by Xxxxxx.

  • Damage, Destruction or Condemnation If the Dock or any portion thereof is at any time destroyed or damaged by a casualty, or if any portion of the Dock or adjacent parcels are taken pursuant to the exercise or threatened exercise of the power of eminent domain (including a conveyance in lieu thereof), Port may elect to terminate this Agreement.

  • Casualty; Condemnation There is no unrepaired casualty damage to any of such Seller’s Properties and there is no pending condemnation or similar proceedings or written notices thereof affecting any Property, and, to Sellers’ Knowledge, no action is threatened or contemplated except as set forth on Schedule 3.2(e) attached hereto.

  • Sufficiency of Moneys The Recipient has sufficient moneys in addition to those granted to Recipient pursuant to Section II of this Agreement to fund the Project to completion;

  • Sufficiency of Assets Except as set forth in Part 3.6, the Assets (a) constitute all of the assets, tangible and intangible, of any nature whatsoever, necessary to operate Seller's business in the manner presently operated by Seller and (b) include all of the operating assets of Seller.

  • Frequency of Evaluations 36.2.1 Employee work performance will be evaluated during probationary and trial service periods and annually thereafter. If the supervisor identifies a performance concern during the evaluation period, the supervisor may provide feedback. The supervisor will provide written documentation to the employee with a copy kept in the supervisor’s working file.

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