IFD Proceeds definition

IFD Proceeds means, in any Fiscal Year, the cumulative amount of (i) the proceeds of IFD Debt and (ii) the Net Available Increment generated in such Fiscal Year that is not used to (A) pay debt service on any IFD Debt and (B) repay the City for any Conditional City Increment used to pay IFD Debt in the manner set forth in Section 3.5(d) and to the extent set forth in Section 3.3(e).
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IFD Proceeds means, in any Fiscal Year, for an IFD, the cumulative amount of
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Examples of IFD Proceeds in a sentence

  • The IFP for each IFD shall provide that, notwithstanding anything in clause (ii), upon receipt of the written notice about the High IRR Period, the IFD will suspend distribution of IFD Proceeds to Developer pursuant to clause (ii).

  • The IFP for each IFD shall also provide that, immediately upon the conclusion of a High IRR Period, Authority shall provide a written notice to City and each IFD indicating that the High IRR Period has ended, and immediately upon receipt of such written notice, the suspension shall end and the IFD shall resume making payments to Developer of IFD Proceeds pursuant to clause (ii).

  • Immediately upon the conclusion of a High IRR Period, Authority shall provide a written notice to City indicating that the High IRR Period has ended, and immediately upon receipt of such written notice, the suspension shall end and City shall resume making payments to Developer of IFD Proceeds pursuant to clause (ii).

  • Notwithstanding anything in clause (ii), upon receipt of the written notice about the High IRR Period, the City shall suspend distribution of IFD Proceeds to Developer pursuant to clause (ii).

  • Subject to Tax Laws and the IFD Act, Net IFD Proceeds will be used in the following order of priority: (i) to fund required reserves and pay costs of issuance; (ii) to pay Qualified Pre-Development Costs (which do not include any return on such Pre-Development Costs); and (iii) to pay outstanding Qualified Project Costs.