Examples of Rent Payments in a sentence
Upon the execution and delivery hereof, the Trustee is authorized to execute, and deliver to the purchaser, as provided in Section 14.13 hereof, a series of certificates of participation to be designated Education Technology General Obligation Lease Purchase Certificates of Participation, Taxable Series 2023, (“Certificates”) in the aggregate principal amount of $2,520,000, evidencing undivided ownership interests in the Rent Payments made under the Lease.
In exchange for the Rent Payments herein provided, and subject to the Lessor’s equitable lien as hereinbefore set forth, Xxxxxx agrees to, and does hereby grant Lessee the right to use the Property as hereinbefore and hereafter or specifically set forth.
The Rent Payment Fund shall be kept separate and apart from all other funds and accounts of the Lessee and held in trust for the benefit of Owners of the Certificates, and shall be used only for paying the Rent Payments.
Said ad valorem taxes, sufficient to provide for the payment of the interest component and principal component of the Rent Payments as such interest component comes due and such principal component matures, are hereby pledged for such payment.
Certain of the Lessor's rights under this Lease, including certain notice provisions, the right to receive and enforce payment of the Rent Payments and other amounts to be made by the Lessee to the Lessor under this Lease, are or will be assigned to the Trustee by the Lessor, to which assignment the Lessee hereby consents.