Rebate Obligations Sample Clauses

Rebate Obligations. ‌ If the Recipient satisfies the requirements of one of the spending exceptions to rebate specified in Section 1.148-7 of the Treasury Regulations, amounts earned from investments, if any, acquired with the Bond Funded Portion of the Project Funds will not be subject to the rebate requirements imposed under Section 148(f) of the Code. If the Recipient fails to satisfy such requirements for any period, it will notify the State Water Board and the Bank immediately and will comply with the provisions of the Code and the Treasury Regulations at such time, including the payment of any rebate amount calculated by the State Water Board or the Bank.
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Rebate Obligations. The Borrower covenants that it will undertake to determine precisely what is required with respect to the rebate provisions contained in Section 148(f) of the Code and said regulations from time to time and will comply with any requirements that may be applicable to the Bonds. Except to the extent inconsistent with any requirements of the Code or the regulations or future regulations, the Borrower will undertake the methodology described in this Tax Certificate and Agreement.
Sample 1
Rebate Obligations. The Borrower covenants that it will undertake to determine precisely what is required with respect to the rebate provisions contained in Section 148(f) of the Code and said regulations from time to time and will comply with any requirements that may be applicable to the Authority Loan. Except to the extent inconsistent with any requirements of the Code or the regulations or future regulations, the Borrower will undertake the methodology described in this Tax Certificate and Agreement. Signature Block: CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY By: Deputy Treasurer For Chairperson, State Treasurer [Treasurer’s Name] By: Executive Director [NAME OF XXXXXXXX] By: [Name and Title of Authorized Representative]
Sample 1
Rebate Obligations. The Board of Education hereby covenants and agrees to assume all obligations of the City set forth in Article V of the Tax Compliance Agreement respecting the Public School Proceeds including, without limitation, the obligation to comply with Section 148(f) of the Code as set forth in Section 5.1 of the Tax Compliance Agreement and the obligation to maintain records and prepare or cause to be prepared a calculation of the Rebate Requirement (though only with respect to the Public School Proceeds portion of the Warrants) as set forth in Section 5.2 and Section 5.3, respectively, of the Tax Compliance Agreement.
Sample 1
Rebate Obligations. The Borrower covenants that it will undertake to determine precisely what is required with respect to the rebate provisions contained in Section 148(f) of the Code and said regulations from time to time and will comply with any requirements that may be applicable to the Bonds. Except to the extent inconsistent with any requirements of the Code or the regulations or future regulations, the Borrower will undertake the methodology described in this Tax Certificate and Agreement. Signature Block: CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY By: Deputy Treasurer For Chairman, State Treasurer [Treasurer’s Name] By:
Sample 1
Rebate Obligations. Buyer may, at Buyer’s sole discretion, settle or pay any Rebate Obligation at any time, and from time to time, during the three (3) year period immediately following the Closing (the “Rebate Escrow Period”), by providing written notice thereof to the Escrow Agent (with a copy to the Lenders’ Representative) (i) describing the Rebate Obligation and the amount so settled, paid or to be paid (each a “Rebate Amount”), in reasonable detail and (ii) instructing the Escrow Agent to release to Buyer an amount equal to such Rebate Amount from the Rebate Escrow Funds (“Rebate Escrow Release Notice”); provided, however, (x) Buyer will not be entitled to receive any Rebate Amount from the Rebate Escrow Funds unless and until the aggregate amount of all Rebate Obligations actually paid by Buyer without utilization of any Rebate Escrow Funds has exceeded $500,000 and (y) Buyer shall provide at least three (3) Business Days advance written notice to the Lenders’ Representative that it intends to deliver a Rebate Escrow Release Notice before delivering a Rebate Escrow Release Notice. Within two (2) Business Days after the expiration of the Rebate Escrow Period, Buyer and the Lenders’ Representative shall deliver joint written instructions signed by Buyer and the Lenders’ Representative, instructing the Escrow Agent to pay and deliver all then-remaining Rebate Escrow Funds minus the amounts of any unpaid Rebate Amounts set forth in any then pending Rebate Escrow Release Notice to the Lenders’ Representative within five (5) Business Days after delivery thereof. For the avoidance of doubt, and notwithstanding anything to the contrary contained herein, Buyer Indemnitees’ sole source of recovery for any Rebate Obligations shall be the Rebate Escrow Funds.
Sample 1

Related to Rebate Obligations

  • Separate Obligations These obligations are independent of Borrower’s obligations and separate actions may be brought against Guarantor (whether action is brought against Borrower or whether Borrower is joined in the action).

  • Corporate Obligations To the extent permitted by law, no recourse under any obligation, covenant, or agreement of any person contained in this Agreement shall be had against any shareholder, officer or director of such person as such, by the enforcement of any assessment or by any legal proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that this Agreement is a corporate obligation of each person expressed to be a party hereto and no personal liability shall attach to or be incurred by the shareholders, officers, agents or directors of such person as such, or any of them, under or by reason of any of the obligations, covenants or agreements of such person contained in this Agreement, or implied therefrom, and that any and all personal liability for breaches by such person of any of such obligations, covenants or agreements, either under any applicable law or by statute or constitution, of every such shareholder, officer, agent or director is hereby expressly waived by each person expressed to be a party hereto as a condition of and consideration for the execution of this Agreement.

  • Surety Obligations No Borrower or Subsidiary is obligated as surety or indemnitor under any bond or other contract that assures payment or performance of any obligation of any Person, except as permitted hereunder.

  • Third Party Obligations 3.1. The THIRD PARTY shall:-

  • Corporate Obligation No recourse may be taken, directly or indirectly, against any incorporator, subscriber to the capital stock, stockholder, officer, director or employee of the Company or the Trustee or of any predecessor or successor of the Company or the Trustee with respect to the Company's obligations on the Securities or the obligations of the Company or the Trustee under this Indenture or any certificate or other writing delivered in connection herewith. ARTICLE TWO

  • Non-Compete Obligations In the below identified capacities, during Executive’s employment and for a period of twelve (12) months immediately after Executive’s voluntary or involuntary termination, Executive will not (1) engage in any Company Competitive Business within the Company Restricted Geographic Area and (2) will not engage in any Company Competitive Business outside the Company Restricted Geographic Area if such work impacts or influences any Company Competitive Business within the Company Restricted Geographic Area:

  • Royalty Obligations Part 2.7(e) of the Disclosure Schedule contains a complete and accurate list and summary of all royalties, fees, commissions, and other amounts payable by the Seller to any Person (other than sales commissions paid to employees according to the Seller’s standard commissions plan) upon or for the sale, or distribution of any Seller Product or the use of any Seller IP.

  • Client Obligations 3.1 The Client shall:

  • Absolute Obligation Except as expressly provided herein, no provision of this Debenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, liquidated damages and accrued interest, as applicable, on this Debenture at the time, place, and rate, and in the coin or currency, herein prescribed. This Debenture is a direct debt obligation of the Company. This Debenture ranks pari passu with all other Debentures now or hereafter issued under the terms set forth herein.

  • Guaranty Obligations Unless otherwise specified, the amount of any Guaranty Obligation shall be the lesser of the principal amount of the obligations guaranteed and still outstanding and the maximum amount for which the guaranteeing Person may be liable pursuant to the terms of the instrument embodying such Guaranty Obligation.

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