Note Resolutions definition
Examples of Note Resolutions in a sentence
Any provision of this Agreement which requires the County to pay money (including, without limitation, Sections 2.2, 3.1 and 5.7) shall be satisfied only from funds received by the County from the Participants pursuant to the District Note Resolutions, and in no event shall the County be obligated to make any expenditure required by this Agreement from its own funds.
The County covenants that all Pledged Revenues transferred pursuant to the schedule set forth in this Section will be held in trust in the respective Repayment Funds and will be applied only for the purposes for which such Repayment Funds were created and as directed in the District Note Resolutions for the benefit of Registered Owners of the Certificates.
The Certificates may be executed and delivered hereunder in an aggregate principal amount not to exceed the aggregate principal amount of the Notes authorized by the Participants in the respective District Note Resolutions.
In order to facilitate the collection of the Pledged Revenues, the County shall hold Pledged Revenues which have been deposited from specific amounts from the respective Participant’s funds on deposit with the Treasurer for such purpose and received from each of the respective Participants for the account of such respective Participants established under the respective Participants’ Note Resolutions.
The Certificates may be executed and delivered hereunder in an aggregate principal amount not to exceed the aggregate principal amount of the Notes authorized by the Participants in the District Note Resolutions.
Note: Resolutions to grievances shall require approval by the Superintendent/designee and OAPSE.
The District Note Resolutions and the County Resolutions shall be referred to herein collectively as the “Resolutions.” The owner of this Certificate is entitled to receive, subject to the terms of the Resolutions, on the Maturity Date stated above, the Principal Amount specified above, representing a direct, undivided interest in the principal payments to be made by each Participant on its respective Note, together with interest thereon accrued at the Interest Rate stated above.
The amounts determined by applying the foregoing percentages to the principal amount of each Participant’s Note represent the “Pledged Revenues” for the Notes, as defined and pledged in the related District Note Resolutions, and the principal and interest due under the Certificates shall be payable from such Pledged Revenues, and to the extent not so paid shall be paid from any other moneys of the related Participants lawfully available therefor.
The Public Note Resolutions shall be in form and substance satisfactory to you.
The Company shall have ---------------------------------------- duly authorized an issue of $100,000,000 aggregate principal amount of the Public Notes pursuant to resolutions (herein called the "Public Note Resolutions") which shall be duly adopted by its Board of Directors prior to the Exchange Date.