Funds Payment definition

Funds Payment means according to the Borrower’s request, the Lender pays the funds of the loans into the Deposit Account, which is opened by the Borrower in the Lender’s Operating Branch or settlement operation branch.
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Examples of Funds Payment in a sentence

  • For each Public Funds Payment, Developer shall submit a payment request to TxDOT and the Independent Engineer no sooner than the earlier of (a) the corresponding date for such payment in the second column of Table 2 of Exhibit 8 and (b) Developer has incurred costs for the Work equal to or in excess of the sum of (i) the payment requested, (ii) all Public Funds Payments previously paid, and (iii) the TMC Public Funds Payment (if previously paid).

  • Refer to the “Public Funds Payment Terms” set out in Exhibit 8 for requirements pertaining to the payment request and TxDOT’s remittance of the TMC Public Funds Payment.

  • To the maximum extent permitted by Law, Developer shall be treated as the owner for federal income tax purposes of such portion of the Project for which Developer is not reimbursed its total capital improvement costs by the TMC Public Funds Payment or (if applicable) the Public Funds Payments.

  • Except for the TMC Public Funds Payment and the Public Funds Payments (if applicable), and as may otherwise be provided herein, Developer is solely responsible for obtaining and repaying all financing, at its own cost and risk and without recourse to TxDOT, necessary for the acquisition, design, permitting, development, construction, equipping, operation, maintenance, modification, reconstruction, rehabilitation, restoration, renewal and replacement of the Project and for the Utility Adjustment Work.

  • The fees for furnishing services under this Contract shall not to exceed a total amount of Non-Appropriation of Funds: Payment under this Contract is conditioned upon the availability of state or federal funds appropriated or allocated for the payment of such obligations by the District in its budget adopted for any fiscal year for which this Contract is in effect and constitute a current expense of the District for that fiscal year only.

  • The payment of the TMC Public Funds Payment and (if applicable) the Public Funds Payments by TxDOT to Developer is reimbursement of the portion of Developer’s total capital improvement costs of the Project that are expended by Developer on behalf of, and for the benefit of, TxDOT and shall not be treated as compensation or consideration of any kind paid by TxDOT to Developer for federal income tax purposes.

  • If ▇▇▇▇▇▇▇▇▇’s Proposal included Public Funds Payments, TxDOT agrees to make the applicable Public Funds Payments, in the amounts, and according to the schedule, set out in Table 2 of Exhibit 8 and subject to the requirements of Section 4.6.2 and the “Public Funds Payment Terms” set out in Exhibit 8.

  • Funds to pay debt service on depository-eligible or book-entry securities must be on deposit in sufficient time to ensure compliance with the Same Day Funds Payment Guidelines promulgated by the securities depositories and the SEC.

  • TxDOT shall pay to Developer $17,100,000 (the “TMC Public Funds Payment”) as payment for Construction Work associated with the TMC Direct Connector and as payment for the acquisition of Project Right of Way needed for the TMC Direct Connector (it being understood, however, that the actual cost of Construction Work and Project Right of Way for the TMC Direct Connector may exceed such amounts, and in such case TxDOT will not increase the TMC Public Funds Payment).

  • In accordance with this Section 3.6.3, the Base Case Financial Model will be updated to calculate the change, positive or negative, in the Concession Payment or Public Funds Payment resulting from changes permitted under Sections 3.6.1 and 3.6.