City Purpose Covenant definition

City Purpose Covenant has the meaning provided in Section 4.01 hereof. “Collateral” has the meaning assigned to such term in the Security Agreement. “Comptroller” means the Comptroller of the City of New York.
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City Purpose Covenant has the meaning assigned to such term in the Declaration.
Sample 1
City Purpose Covenant has the meaning provided in the Declaration. “City” has the meaning provided in the Preamble hereof. “Comptroller” means the Comptroller of the City of New York. “DSBS” has the meaning provided in Section 6.20(b) hereof. “Declaration” has the meaning provided in the Preamble hereof.
Sample 1

Examples of City Purpose Covenant in a sentence

  • This Security Agreement creates a valid first priority Lien in the Collateral, securing Grantor’s performance and payment of its Obligations under the Transactional Documents, including, without limitation, performance of the City Purpose Covenant, and all actions necessary or desirable to protect such Lien have been duly taken.

  • The Collateral shall be used solely for the purposes of the City Purpose Covenant and as otherwise authorized by the Funding Agreement.

  • The City’s Office of Management and Budget shall have determined that, in its sole reasonable discretion, Funding Recipient has sufficient funds and other financial resources (such as enforceable pledges and binding loan commitments from lending institutions) to make use and operate City-Funded Equipment in accordance with the City Purpose Covenant for the duration of the Performance Term.

  • The Collateral will be used only for the purposes set forth in the City Purpose Covenant and as otherwise authorized by the Funding Agreement.

  • If, during the Performance Term, the Project shall be damaged or destroyed by fire or other casualty, ordinary or extraordinary, foreseen or unforeseen, the Declarant shall promptly restore the Project to the extent and the value of, and to the extent reasonably practicable, the character of the Project as it existed prior to said casualty such that the Project can continue to be used in accordance with the City Purpose Covenant.

  • This Security Agreement creates a valid first priority security interest in the Collateral, securing Grantor’s performance and payment of its Obligations under the Transactional Documents, including, without limitation, performance of the City Purpose Covenant, and all actions necessary or desirable to protect such security interest have been duly taken.

  • The City, in its sole discretion, may notify Funding Recipient that the City has determined that the cost of purchasing, delivering and installing all Equipment necessary for the performance of Funding Recipient’s obligations under the City Purpose Covenant will likely exceed the funds available to Funding Recipient.

  • The City shall have determined that, in its sole reasonable discretion, Funding Recipient has sufficient funds and other financial resources (such as enforceable pledges and binding loan commitments from lending institutions) to make use and operate City-Funded Vehicles in accordance with the City Purpose Covenant for the duration of the Performance Term.

  • On the anniversary of the recordation or filing of the Declaration of Restrictive Covenant, and on each anniversary thereafter, the Organization must issue a certification to the City that the Project is held and used in compliance with the City Purpose Covenant and other requirements.

  • City Purpose Covenant involving Moveable Property - in instances in which the City funds are for the acquisition of Moveable Property such as furniture and equipment for initial outfitting, standalone equipment, equipment systems or vehicles, the City Purpose Covenant will be in the form of a Use Agreement (for cultural projects only) or Security Agreement to be filed by a Form UCC1 (equipment) or DMV Lien (vehicles).

Related to City Purpose Covenant

  • Transfer fee covenant means a declaration or covenant purporting to affect real property which requires or purports to require the payment of a transfer fee to the declarant or other person specified in the covenant or declaration, or to their successors or assigns, upon a subsequent transfer of an interest in the real property.

  • Additional Covenant means any covenant in respect of the financial condition or financial position of the Company, including, but not limited to, covenants that specify or require the maintenance of certain financial ratios applicable to the Company, and the default provision related thereto (regardless of whether such provision is labeled or otherwise characterized as a covenant or a default).

  • Maintenance Covenant A covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) during each reporting period, that exists regardless of whether or not such borrower has taken any specified action and includes a covenant that applies only when the related loan is funded.

  • Previously Absent Financial Maintenance Covenant means, at any time, any financial maintenance covenant that is not included in the Loan Documents at such time.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Financial Covenant means the covenant set forth in Section 7.09.

  • Replacement Capital Covenant has the meaning specified in the introduction to this instrument.

  • Permitted Purpose means any activity or process to be undertaken or supervised by a Staff member of one Party during the term of this Agreement, for which purpose authorised disclosure of the other Party’s Confidential Information or Intellectual Property is a prerequisite in order to enable such activity or process to be accomplished;

  • Incurrence Covenant means a covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) only upon the occurrence of certain actions of the borrower, including a debt issuance, dividend payment, share purchase, merger, acquisition or divestiture.

  • Covenant Compliance Event means that Excess Availability at any time is less than the greater of (a) ten (10%) percent of the Line Cap or (b) $7,000,000. For purposes hereof, the occurrence of a Covenant Compliance Event shall be deemed continuing until Excess Availability has exceeded the amounts set forth above for thirty (30) consecutive days, in which case a Covenant Compliance Event shall no longer be deemed to be continuing for purposes of this Agreement. The termination of a Covenant Compliance Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Covenant Compliance Event in the event that the conditions set forth in this definition again arise.

  • Qualifying Replacement Capital Covenant has the meaning specified in the Replacement Capital Covenant.

  • Financial Covenants means the covenants set forth in Section 6.2.

  • Approved Purpose means a purpose for the use of recycled tires which is found on the list of Approved Purposes for Recycled Tires maintained by OTS and published on OTS’s web site from time to time;

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • General purpose equipment means equipment, which is not limited to research, medical, scientific or other technical activities. Examples include office equipment and furnishings, modular offices, telephone networks, information technology equipment and systems, air conditioning equipment, reproduction and printing equipment, and motor vehicles.

  • Permitted Purposes means evaluating the Project, preparing a Proposal, and any other use permitted by the RFP or this Participation Agreement;

  • Covenant Trigger Period means the period (a) commencing on the date that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $50,000,000 and (b) continuing until there has been a period of 30 consecutive days thereafter during which at all times (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $50,000,000.

  • General purpose degreaser means a product designed to remove or dissolve grease, grime, oil and other oil-based contaminants from a variety of substrates, including automotive or miscellaneous metallic parts. General purpose degreaser does not include engine degreaser, general purpose cleaner, adhesive remover, electronic cleaner, metal polish or cleanser, products used exclusively in solvent cleaning tanks or related equipment, or products that are (i) sold exclusively to establishments which manufacture or construct goods or commodities; and (ii) labeled "not for retail sale." Solvent cleaning tanks or related equipment includes, but is not limited to, cold cleaners, vapor degreasers, conveyorized degreasers, film cleaning machines, or products designed to clean miscellaneous metallic parts by immersion in a container.

  • Limited Condition Acquisition means any acquisition, including by way of merger, by the Issuers or one or more of their Restricted Subsidiaries whose consummation is not conditioned upon the availability of, or on obtaining, third-party financing.

  • General purpose cleaner means a product designed for general all-purpose cleaning, in contrast to cleaning products designed to clean specific substrates in certain situations. “General Purpose Cleaner” includes products designed for general floor cleaning, kitchen or countertop cleaning, and cleaners designed to be used on a variety of hard surfaces.

  • Approved Purposes means the use of Data by the Provider for the purposes of providing services authorized by APS in Agreements entered into between APS and the Provider (“Authorized Services”) during the term of the SDUPA., and for no other purpose.

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Rent Restriction Test means the test pursuant to Section 42 of the Code whereby the gross rent charged to tenants of the low-income apartment units in the Apartment Housing cannot exceed 30% of the qualifying income levels of those units under Section 42.

  • General-Purpose Software means Software that supports general-purpose office and software development activities and is identified as such in Appendix 4 of the Contract Agreement and such other Software as the parties may agree in writing to be General-Purpose Software. Such General- Purpose Software may include, but is not restricted to, word processing, spreadsheet, generic database management, and application development software.

  • Permitted Lock-Up Agreement means an agreement between a Person and one or more holders of Voting Shares pursuant to which such holders (each a “Locked-Up Person”) agree to deposit or tender Voting Shares to a Take-Over Bid (the “Lock-Up Bid”) made or to be made by such Person or any of such Person’s Affiliates or Associates or any other Person with which such Person is acting jointly or in concert, provided that:

  • Poor foundation conditions means those areas where features exist which indicate that a natural or man-induced event may result in inadequate foundation support for the structural components of an SWLF unit.