Administrative Share definition
Examples of Administrative Share in a sentence
Subject to the terms and conditions of this Agreement, and the requirements and restrictions set forth in both the Work Plan and the Bond Measure, Metro will provide LIP the Administrative Share.
Metro will have no obligation to disburse any remaining portion of LIP’s Eligible Share or Administrative Share after the expiration of the Term.
Interest earnings on the Administrative Share while held by LIP may be retained by LIP, provided such interest is used for affordable housing, residential services, or supportive services for residents of affordable housing.
Within thirty (30) days of the Effective Date, Metro will disburse to LIP its Administrative Share in accordance with the schedule set forth on Exhibit B attached to this Agreement.
On an annual basis, beginning , 2019, Metro will disburse to LIP its Administrative Share in accordance with the schedule set forth on Exhibit attached to this Agreement.
The Subordinated Administrative Share is held by DS Aviation GmbH & Co. KG, (the Asset Manager).
On or before of each year during the Term, LIP will provide an annual report to Metro containing (a) an itemized list of LIP’s expenditure of its Administrative Share (and any investment earnings thereon) through the end of the prior fiscal year detailing each entity LIP paid any portion of the Administrative Share and (b) a certification from LIP to Metro that the Administrative Share was used only to pay for or Capital Costs.
Metro’s obligation to distribute the Administrative Share is conditioned on LIP making reasonable progress towards its Unit Production Targets, as reasonably determined by Metro in accordance with the timeline set forth on the attached Exhibit .
The Share Capital of the Company comprises 113,000,000 Ordinary Preference Shares of no par value and one Subordinated Administrative Share of no par value.
Metro’s obligation to distribute the Administrative Share is conditioned on LIP making reasonable progress towards its Unit Production Targets, as reasonably determined by Metro in accordance with the timeline set forth on the attached Exhibit B.