Examples of 2010 Installment Payments in a sentence
The obligation of the City to make the Series 2010 Installment Payments is a special obligation of the City payable solely from Net Revenues, the Revenue Fund and other funds described in this Installment Purchase Agreement and in the Trust Agreement, and does not constitute a debt of the City or of the State of California or of any political subdivision thereof in contravention of any constitutional or statutory debt limitation or restriction.
The City will preserve and protect the security hereof and the rights of the Authority to the Series 2010 Installment Payments hereunder and will warrant and defend such rights against all claims and demands of all persons.
Any real or personal property that has become nonoperative or that is not needed for the efficient and proper operation of the Enterprise, or any material or equipment that has become worn out, may be sold if such sale will not impair the ability of the City to pay the Series 2010 Installment Payments and if the proceeds of such sale are deposited in the Revenue Fund.
Notwithstanding anything contained herein, the City shall not be required to advance any moneys derived from any source of income other than the Net Revenues, the Revenue Fund and the other funds provided herein and in the Trust Agreement for the payment of the Series 2010 Installment Payments or for the performance of any agreements or covenants required to be performed by it contained herein.
The City will not issue any evidences of indebtedness or incur other obligations that are payable from and secured by a pledge of and lien on Net Revenues senior to the pledge of and lien on Net Revenues of the Series 2010 Installment Payments.
The City will not enter into any agreement or lease that impairs the operation of the Enterprise or any part thereof necessary to secure adequate Net Revenues for the payment of the Series 2010 Installment Payments, or that would otherwise impair the rights of the Authority hereunder or the operation of the Enterprise.
CRR refers to the portion of total deposits of a commercial bank, which it has to keep with the RBI as cash reserves.
The 2010 Installment Payments are subject to optional prepayment in accordance with the provisions of Section 4.01(a) of the Trust Agreement relating to optional prepayment of the Certificates.
No director, officer or employee of the City shall be individually or personally liable for the payment of the Series 2010 Installment Payments, but nothing contained herein shall relieve any director, officer or employee of the City from the performance of any official duty provided by any applicable provisions of law or hereby.
The Certificates each evidence and represent a proportionate, undivided interest in the 2010 Installment Payments and enjoy the benefits of a security interest in the money held in the accounts and funds established pursuant to the Trust Agreement, subject to the provisions of the Trust Agreement permitting the disbursement thereof for or to the purposes and on the conditions and terms set forth therein.