Assessment Payments definition
Examples of Assessment Payments in a sentence
We may cancel Preauthorized Electronic Assessment Payments at any time without cause and you can terminate this agreement at any time by giving sufficient written notice or by closing the designated accounts.
Borrower has received from [Administrator / Lender] information and disclosure on the costs and risks associated with participating in the Program, including risks related to the failure of Borrower to pay the Assessment Payments and remedies related thereto.
If this Agreement authorizes a variable interest rate, the Capital Provider shall be required to notify the District in writing no later than August 1st of each year during which the CoPACE Financing remains outstanding of the total annual amortized payment associated with the Assessment Lien for the following collection year utilizing the notice form attached to this Agreement as Exhibit G (Interest Rate and Annual Assessment Payments Adjustment Notice).
Such assignment shall include only the County's right, title and interest in and to the Assessment Payments and the Lien, and the County shall retain all of its other rights and remedies, including any special powers of enforcement or collection to which the County, by virtue of its status as a political subdivision of the Commonwealth, is entitled or empowered to exercise under applicable laws of the Commonwealth.
Should the Capital Provider fail to provide the District with the Interest Rate and Annual Assessment Payments Adjustment Notice by the August 1 deadline, the District shall proceed to certify the same annual assessment payment to the County as certified in the prior year (the “Prior Year Assessment”), and the District shall have no liability whatsoever to the Capital Provider or Property Owner for proceeding to utilize the Prior Year Assessment as contemplated herein.
This Section shall survive the execution, delivery, performance and repayment of the Transaction Documents, the Assessment Payments and the Loan, and the extinguishment of the Lien.
Notwithstanding any language of this Agreement to the contrary, the Capital Provider and Property Owner agree to indemnify and hold harmless the District and its respective directors, officers, employees, agents, and consultants for proceeding to certify the Prior Year Assessment to the County in the event that Capital Provider fails to provide the District with the Interest Rate and Annual Assessment Payments Adjustment Notice by the August 1 deadline.
Any interest, fees, costs or expenses provided for herein that are not financed as part of the Loan, including, without limitation, [__________],3 shall be billed and collected separately by Lender, and shall not be collected through Assessment Payments.
Delinquent Assessment Payments shall incur a late payment penalty of [__________] percent ([__]%) of such amount, and interest shall accrue on delinquent balances (including principal, interest and fees), until paid in full, at the lesser of [__________] percent ([__]%) per annum or the maximum per annum rate permitted by law.
From and after the Commencement Date, interest on the outstanding balance of the principal portion of the Loan shall accrue at a per annum rate of [__________] percent ([__]%), [computed on the basis of __________].3 Assessment Payments are due and payable in equal installments over a term of [__________] ([__]) years, at such times and in such amounts as set forth in Exhibit [__].