Stadium Authority definition
Examples of Stadium Authority in a sentence
Amounts remaining in the Stadium Authority Capital Projects Fund on the Term Expiration Date shall remain the property of the Authority and StadCo shall not have any right or claim thereto.
The Stadium Authority Capital Projects Fund shall be applied exclusively to fund expenses incurred in connection with Capital Work.
The Stadium Authority Capital Projects Fund Custodian shall maintain the Stadium Authority Capital Projects Fund on behalf of the Authority.
The Stadium Authority Capital Projects Fund shall not be pledged for any purpose and may be used only for the purposes provided in this Agreement.
Except to the extent of expenses incurred in connection with Capital Work detailed in the Capital Budget for that specific year Approved by the Authority Board as provided in Section 7.6(b)(i) hereof, the prior Approval of the Authority Board shall be required prior to StadCo’s withdrawal of funds from the Stadium Authority Capital Projects Fund.
Subject to all of the provisions and limitations set forth in this Section 7.7(c), from time to time during the Term, StadCo may obtain funds available in the Stadium Authority Capital Projects Fund, but only for the purpose of paying or reimbursing itself for Approved expenses incurred in connection with Capital Work.
The Authority may access the Stadium Authority Capital Projects Fund and the StadCo Capital Projects Fund for any reimbursement of costs incurred by the Authority as provided in Section 7.6(c) hereof or should the Authority ever undertake any Capital Work pursuant to the Authority’s Self Help Right set forth in Section 15.2(b) that is otherwise StadCo’s responsibility under this Agreement as a result of StadCo’s failure to perform its obligations under this Agreement.
The amounts available in the Stadium Authority Capital Projects Fund from time to time shall be invested by the Stadium Authority Capital Fund Custodian (after conferring in advance with StadCo) in Permitted Investments permitted to be made under Applicable Law with respect to the investment of public funds.
Within ten (10) days after delivery of such accountants’ report, StadCo shall deposit such amount into the Stadium Authority Capital Projects Fund.
Revenue from the operation or sale by the Authority of all Authority Supplemental Stadium Parking Facilities shall be annually placed by the Authority into the Stadium Authority Capital Projects Fund.