HYIC definition
Examples of HYIC in a sentence
The Authority may apply Tax Revenues available under Section 509(a) fourth to the purchase of obligations of HYIC (not exceeding the amounts specified by Supplemental Indentures approved by unanimous vote of the Directors of the Authority), which HYIC obligations shall be held by the Authority.
Lessee shall have the right to contest the amount of PILOT included in a PILOT ▇▇▇▇ by providing written notice to NYCDOF (with a copy to HYIC and the Agency) of the contested amount(s), provided that the Lessee shall not withhold any payment of such PILOT.
Disturbance and Attornment Agreement shall mean each subordination, non-disturbance and attornment agreement to be executed by and between HYIC and a Major Tenant, substantially in the form of Exhibit I-3 attached hereto.
Until such time that the Agency and/or HYIC may in writing require otherwise, the Lessee shall pay all PILOT Amounts to HYIC or its designee and the Lessee shall make such payments by wire transfer to US Bank (ABA ▇▇▇▇▇▇▇▇▇), ▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, St. ▇▇▇▇, Minnesota 55107, BNF Boston Incoming Wire DDA, A/C 173103321092, OBI Corporate Trust, REF# ▇▇▇▇▇▇ Yards 108133001, Attention: ▇▇▇▇▇ ▇▇▇▇▇▇.
The Mortgagor’s obligation to make PILOT payments under the Agency Lease is secured by three Fee and Leasehold PILOT Mortgages (collectively, the “PILOT Mortgages”), from the Mortgagor and the ▇▇▇ in favor of the HYIC in the aggregate maximum principal amount of $816,109,050 encumbering the Mortgagor’s fee simple interest in the Mortgaged Property and subtenant’s interest under the Agency Lease and the IDA’s interest under the Company Lease.
The Members further acknowledge and agree that, during the term of the Construction Loan, PILOT payments will be funded to a reserve held by the Mortgage Loan Agent or Mezzanine Loan Agent for payment of PILOT to the I▇▇ or HYIC, or to the MTA, as applicable, in accordance with the terms of the I▇▇ Documents, pursuant to the terms of the Loan Documents.
The title insurance policy shall be subject only to Permitted Encumbrances as defined in subsection (a) above and shall provide for, among other things, the following: (1) full coverage against mechanics’ liens; (2) no exceptions other than those approved by the Agency; and (3) such other matters as the Agency or HYIC shall reasonably request.
Upon the request of the Agency or HYIC, the Ground Lessor and the Lessee (or Foreclosure Transferee, as applicable) (and such other parties as may be reasonably required) shall execute any instruments reasonably required by the Agency or HYIC to confirm that the Ground Lease Termination shall not affect the rights and obligations of the parties to the Company Lease, this Agreement and the PILOT Mortgages.
HYDC shall not amend or deviate from this Disposition and Pricing Mechanism Policy without the prior written consent of HYIC and MTA.
Any proceeds of such mortgagee title insurance shall be paid to the Agency or HYIC, as applicable, and applied to remedy the applicable defect in title in respect of which such proceeds shall be derived (including the reimbursement to the Lessee for any costs incurred by the Lessee in remedying such defect in title).