Backup Loan definition

Backup Loan has the meaning specified in the Members Agreement.
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Examples of Backup Loan in a sentence

  • The Borrower shall not make any reimbursement payment under a CDOT Backup Loan while any Loan Obligations remain outstanding.

  • The Borrower shall provide a copy to the Lender of any correspondence from CDOT regarding the approval or denial of a CDOT Backup Loan.

  • The Parties agree to cooperate in good faith to determine a reasonable repayment schedule for each CDOT Backup Loan.

  • To the extent user fee revenues are inadequate in any fiscal year to cover the HPTE O&M Obligations, HPTE may request a CDOT Backup Loan to fund such shortfall.

  • HPTE may also, at any time during any fiscal year, notify the Executive Director in writing that HPTE desires that CDOT make CDOT Backup Loans for projected HPTE O&M Obligations in an amount that exceeds any CDOT Backup Loan Set Aside that the Transportation Commission has previously allocated for such fiscal year.

  • The Borrower agrees to use its best efforts and all available legal means to cause CDOT to extend to the Borrower CDOT Backup Loans pursuant to the Intra-Agency Agreement and execute a CDOT Backup Loan Agreement, when needed to repay any Loan Obligations hereunder and to have the same approved by the State Comptroller.

  • Any CDOT Backup Loans made to HPTE in support of HPTE O&M Obligations shall be authorized by and subject to a separate Transportation Commission Resolution and shall be evidenced by one or more loan agreements in substantially the form attached hereto as Exhibit A (a “CDOT Backup Loan Agreement”), with terms consistent with the terms contained herein.

  • The exercise by CDOT of any of the remedies above shall not relieve BE of liability to repay any CDOT BE Backup Loan or for any damages sustained by CDOT by virtue of any breach of this Agreement by BE.

  • In the event CDOT is to provide the Borrower with a CDOT Backup Loan, the I-70 MEXL Operating Account (the “I-70 MEXL Operating Account”) will be created as a special account within the statewide transportation enterprise operating fund pursuant to C.R.S. §43-4-806(4).

  • Any CDOT Backup Loans made to HPTE in support of HPTE O&M Obligations shall be authorized by and subject to a separate Transportation Commission Resolution and shall be evidenced by one or more loan agreements in substantially the form attached hereto as Exhibit B (a “CDOT Backup Loan Agreement”), with terms consistent with the terms contained herein.