City Debt definition
Examples of City Debt in a sentence
The Lender acknowledges that with respect to the collateral covered by the respective agreements, the Liens securing the National City Debt and the M Data Debt have priority over the Liens granted pursuant to this Agreement.
It shall not be a breach of this Agreement for the Grantors to comply with their obligations with respect to the collateral securing the National City Debt and the M Data Debt.
The obligations of certain of the Grantors hereunder are subject to the provisions of agreements entered into in connection with the National City Debt and the M Data Debt.
In addition, the Borrower shall have delivered to the Lenders complete and correct as-executed copies of the documentation executed in connection with the Equity Investment and the other Contemplated Transactions (including in each case any amendments, supplements or modifications with respect thereto), as well as complete and correct copies of the documentation relating to the CSI Debt, the National City Debt and the M Data Debt as originally executed and as heretofore modified.
On or before the issuance of the City Debt, Hall shall cause a guaranty agreement (the “Guaranty Agreement”) to be executed and delivered to the City.
It shall not be a breach of this Agreement for the Grantors to comply with their obligations with respect to the collateral securing the National City Debt and the M Data Debt, and the Iris Graphics Inc.
Subject to the review and approval of WCPA as issuer of the City Debt, and subject to any federal income tax rules related to the qualification of the City Debt as tax-exempt debt, the City Debt may include up to three (3) years of capitalized interest on the City Debt and the related costs of issuance of the City Debt.
In the event that there are insufficient SPLOST to pay the Debt, the County shall pay any shortfall attributable to the County Debt from its general fund, and the Cities shall pay any shortfall attributable to the City Debt from their general funds (the “Debt Service Payments”).
The City in its sole discretion may determine to authorize or to cooperate in the issuance of additional debt secured by, among other things, the Statutory Service Payments and Property Tax Rollback Payments from the Development, which may in the City’s sole discretion be secured on a parity basis with the City Debt.
Notwithstanding anything to the contrary herein, Developer acknowledges and agrees that the City may (directly or as a conduit obligor) refund certain outstanding debt obligations in connection with the issuance of the City Debt or otherwise, including but not limited to the City’s $4,235,000.14 Road Improvement Bonds (Austin Road Interchange Project), dated July 30, 2010.