P3 Payments definition

P3 Payments means all payments made to a P3 Developer pursuant to and arising out of the P3 Agreement, which include, but are not limited to, termination payments, special allowances, compensation payments for supervening events, and interest on late payments. P3 Payments do not include Milestone or Availability Payments.
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Examples of P3 Payments in a sentence

  • The P3 Payment Fund shall be a separate and special bookkeeping account on the official books and records of Fiscal Agent to be used for no other purpose than the payment of the P3 Payments.

  • The Fiscal Agent, in accordance with the Debt Obligation documents and P3 Agreement, shall deposit the Pledged Revenue into the P3 Payment Fund necessary to meet the payments coming due on the P3 Payments within the calendar year.

  • Whenever all sales and use tax receipts from the City of Fargo and Cass County are insufficient to pay the debt service on the Debt Obligations, Availability Payments, and/or P3 Payments coming due within the following thirteen (13) months, CCJWRD will levy special assessments pursuant to Section 8.07 of this Agreement.

  • Prior to the expiration of the City 3-21 Sales Tax on the City 3-21 Sales Tax Sunset Date, the City of Fargo shall use its best efforts to submit to the voters of the City of Fargo a ballot question asking whether the City of Fargo should impose a new or renewed sales tax similar to the City 3-21 Sales Tax in order to ensure continued sources of sales tax revenue necessary to meet the annual debt service payments on the Debt Obligations, Milestone Payments, Availability Payments, and/or P3 Payments.

  • At the Flood Diversion Board of Authority’s regular February meeting next following the filing of the statement, the Flood Diversion Board shall examine the statement and make inquiry regarding the same to determine whether or not the sales and use tax receipts from the City 3-21 Sales Tax, County 2010-2 Sales Tax, Future City Sales Tax or Future County Sales Tax are projected to meet the debt service on the Debt Obligations, and are sufficient to meet Availability Payments and/or P3 Payments.

  • The Executive Director may not approve a payment or the incurring of an obligation by the Flood Diversion Board of Authority unless funds for the payment or obligation are appropriated by the budget and there is a sufficient unexpended balance in the appropriation after deducting prior expenditures and encumbrances against the appropriation; provided, that Debt Obligations, Milestone Payments, Availability Payments, and P3 Payments are not subject to this requirement.

  • So long as any of the P3 Payments remain outstanding, the Fiscal Agent shall establish and maintain a P3 Payment Fund.

  • The annual budget will include expenditures for debt service payments, Milestone Payments, Availability Payments, and P3 Payments; however, expenditures for these amounts are not subject to annual appropriations of the Flood Diversion Board of Authority.

  • The Fiscal Agent shall establish and maintain for the management of Project funds including but not limited, to annual budgets, revenues, proceeds of Debt Obligations and the repayment of the debt service on the Debt Obligations, the payment of Milestone Payments, Availability Payments, and P3 Payments.

  • In such an event, the Finance Committee, in consultation with CCJWRD, City of Fargo, and Cass County, shall determine the principal amount of special assessments that will need to be certified in any given year after the Pledged Revenues and reserve funds (if any) are first applied to the annual debt service payment on Debt Obligations, Milestone Payments, Availability Payments and/or P3 Payments.