TIFIA Note definition
Examples of TIFIA Note in a sentence
As evidence of the Borrowe¶srobligation to repay the TIFIA Loan, the Borrower shall issue andivderl to the TIFIA Lender, on or prior to the Effective Date, the TIFIA Note substantially in the form oEf xhibit A , having a maximum principal amount of $8,449,000(subject to increase or decrease as herein provided) and bearing interest at the rate set forth in Section6 (Interest Rat)e.
Principal of and interest on this TIFIA Note shall be paid in funds available on or before the due date and in any lawful coin or currency of the United States of America that at the date of payment is legal tender for the payment of public and private debts.
Payments under this Agreement and the TIFIA Note shall be made by wire transfer on or before each Payment Date in immediately available funds in accordance with payment instructions provided by the TIFIA Lender pursuant to Section 36 (Notices; Payment Instructions), as modified in writing from time-to-time by the ▇▇▇▇▇ ▇▇▇▇▇▇.
Upon the ▇▇▇▇▇ ▇▇▇▇▇▇’s receipt of confirmation that payment in full of the entire Outstanding TIFIA Loan Balance and any unpaid interest and fees with respect thereto has occurred as a result of an optional prepayment, the ▇▇▇▇▇ ▇▇▇▇▇▇ shall surrender the TIFIA Note to the Borrower or its representative at the principal office of the TIFIA Lender or certify to the Borrower that the TIFIA Note has been destroyed in accordance with the ▇▇▇▇▇ ▇▇▇▇▇▇'s procedures.
The ▇▇▇▇▇ ▇▇▇▇▇▇ may at any time assume the duties of any Servicer under this Agreement and the TIFIA Note.
The Borrower is a special purpose district duly organized, validly existing and in good standing under the laws of the State, has full legal right, power and authority to enter into the Related Documents then in existence to which the Borrower is a party, to execute and deliver the TIFIA Note, and to carry out and consummate all transactions contemplated hereby and thereby and has duly authorized the execution, delivery and performance of the Related Documents to which the Borrower is a party.
Payment of the obligations of the Borrower under this TIFIA Note is secured pursuant to the CASA and the TIFIA Loan Agreement and is payable solely from the revenues and other funds pledged and otherwise available to make payment as provided in the TIFIA Loan Agreement, and the Borrower is not obligated to pay such obligations except from such revenues and other funds.
All acts, conditions and things required by the Constitution and laws of the State to happen, exist, and be performed precedent to and in the issuance of this TIFIA Note have happened, exist and have been performed as so required.
The TIFIA Lender may from time to time designate another entity or entities to perform, or assist the ▇▇▇▇▇ ▇▇▇▇▇▇ in performing, the duties of the Servicer or specified duties of the TIFIA Lender under this Agreement and the TIFIA Note.
The issuance of this TIFIA Note was authorized pursuant to Resolution No. 2021-11 adopted by the Board of Directors (the “Board”) of the Borrower at a regular meeting of the Board held on October 12, 2020.