Reimbursement by the Authority Sample Clauses

Reimbursement by the Authority. The Authority shall timely pay any Other Taxes to the relevant Governmental Authority and shall also, to the fullest extent permitted by law, reimburse the Bank and each Participant, within thirty (30) days after demand therefor, for the full amount of any Reimbursed Taxes or Other Taxes (including Reimbursed Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) paid by the Bank or any Participant and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Reimbursed Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority; provided that the Authority shall not be obligated to reimburse the Bank for any penalties, interest or expenses relating to Reimbursed Taxes or Other Taxes arising from the Bank’s gross negligence or willful misconduct. The Bank and each Participant agrees to give notice to the Authority of the assertion of any claim against it relating to Reimbursed Taxes and Other Taxes as promptly as reasonably practicable after being notified of such claim; provided, however, that the failure by the Bank or such Participant to provide prompt notice shall not affect the Bank’s or such Participant’s rights under this Section 2.8. A certificate stating in reasonable detail the amount of such payment or liability delivered to the Authority by the Bank or any Participant shall be conclusive absent manifest error. In addition, the Authority shall reimburse the Bank and each Participant, within thirty (30) days after demand therefor, for any incremental Taxes that may become payable by the Bank or any Participant as a result of any failure of the Authority to pay any Taxes when due to the appropriate Governmental Authority or to deliver to the Bank or any Participant pursuant to clause (d), documentation evidencing the payment of Taxes.
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Reimbursement by the Authority. Within 30 calendar days following the payment of an Invoice by the Developer and the submission by the Developer to the City Manager and the Executive Director of proof of payment, XXXX will reimburse the Developer for 50% of the undisputed Eligible Costs paid in connection with such Invoice, provided that any such reimbursement shall be made solely from Tax Increment Revenues on deposit in the XXXX Special Fund. Draft The Authority will reimburse the Developer for 50% of the Eligible Costs, including any Prior Eligible Costs, paid in connection with the Parking Facility Construction Drawings, until the Authority has reimbursed the Developer $335,000 (the “Initial Reimbursement Maximum”). All Eligible Costs incurred by the Developer in excess of the Initial Reimbursement Maximum will be paid by the Developer and will not be subject to reimbursement by XXXX, unless otherwise provided herein. The Authority will keep a record (the “Reimbursement Record”) of all Eligible Costs, including any Prior Eligible Costs, reimbursed by the Authority to the Developer (collectively, the “Authority’s Share”), and all Eligible Costs, including Prior Eligible Costs, paid by the Developer but not reimbursed by XXXX (collectively, the “Developer’s Share”), which Reimbursement Record will be binding on the Parties absent manifest error. The Authority and the Developer agree that the Authority will reimburse the Developer the amount of the Developer’s Share, so that the Developer will be reimbursed for 100% of the Eligible Costs as reflected in the Reimbursement Record, up to a total reimbursed amount of $670,000 upon the happening of either (a) or (b) below:
Sample 1

Related to Reimbursement by the Authority

  • Assignment by the Authority Notwithstanding anything to the contrary contained in this Agreement, the Authority may, after giving 60 (sixty) days' notice to the Concessionaire, assign and/ or transfer any of its rights and benefits and/or obligations under this Agreement to an assignee who is, in the reasonable opinion of the Authority, capable of fulfilling all of the Authority's then outstanding obligations under this Agreement.

  • Damages for delay by the Authority In the event that (i) the Authority does not procure fulfilment of any or all of the Conditions Precedent set forth in Clause 4.1.2 within the period specified in respect thereof, and (ii) the delay has not occurred as a result of breach of this Agreement by the Concessionaire or due to Force Majeure, the Authority shall pay to the Concessionaire Damages in an amount calculated at the rate of 0.1% (zero point one per cent) of the Performance Security for each day‟s delay until the fulfilment of such Conditions Precedent, subject to a maximum of 20% (twenty percent) of the Performance Security.

  • Compensation for default by the Authority Subject to the provisions of Clause 31.5, in the event of the Authority being in material default or breach of this Agreement at any time after the Appointed Date, it shall pay to the Concessionaire by way of compensation, all direct costs suffered or incurred by the Concessionaire as a consequence of such material default or breach within 30 (thirty) days of receipt of the demand supported by necessary particulars thereof; provided that no such compensation shall be payable for any material breach or default in respect of which Damages have been expressly specified in this Agreement. For the avoidance of doubt, compensation payable may include interest payments on debt, O&M Expenses, any increase in capital costs on account of inflation and all other costs directly attributable to such material breach or default but shall not include loss of Fee revenues, debt repayment obligations or other consequential losses, and for determining such compensation, information contained in the Financial Package and the Financial Model may be relied upon to the extent it is relevant.

  • Obligations of the Authority 6.1.1 The Authority shall, at its own cost and expense undertake, comply with and perform all its obligations set out in this Agreement or arising hereunder.

  • PROCEDURE TO CANCEL AGREEMENT BY THE STUDENT ALL requests for cancellation of the housing agreement must be IN WRITING OR REPRODUCIBLE ELECTRONIC FORMAT and submitted to UCF DHRL at the address for official communications shown in this agreement.

  • Administration of the Agreement The Agreement shall be administered by the Board of Directors of the Company or its delegate (the “Administrator”). Subject to the provisions of the Agreement, the Administrator shall have full and final authority in its discretion to take any action with respect to the Agreement including, without limitation, the authority to (i) determine all matters relating to the payments; (ii) establish, amend and rescind rules and regulations for the administration of the Agreement; and (iii) construe and interpret the Agreement, to interpret rules and regulations for administering the Agreement and to make all other determinations deemed necessary or advisable for administering the Agreement. Except to the extent otherwise required under Section 409A of the Internal Revenue Code of 1986, as amended (“Code”), the Administrator shall have the authority, in its sole discretion, to accelerate the date that any Consultation Payments or Separation Payments which were not otherwise vested or earned shall become vested or earned in whole or in part without any obligation to accelerate such date with respect to any other employee. The Administrator also may in its sole discretion determine that Executive’s rights or payments under the Agreement shall be subject to reduction, cancellation, forfeiture or recoupment due to conduct by Executive that is determined by the Administrator to be detrimental to the business or reputation of the Company, including, without limitation, upon termination of employment for cause; violation of policies of the Company; or breach of non-solicitation, noncompetition, confidentiality or other restrictive covenants that apply to the Executive. In addition to action by meeting in accordance with applicable laws, any action of the Administrator with respect to the Agreement may be taken by a written instrument signed by the Administrator (including, where the Board or a committee serves as the Administrator, by written consent signed by all of the members of the Board, or all of the members of a committee, and any such action so taken by written consent shall be as fully effective as if it had been taken by a majority of the members at a meeting duly held and called). No individual shall be liable while acting as Administrator for any action or determination made in good faith with respect to the Agreement, and any such individual shall be entitled to indemnification and reimbursement in the manner provided in the Company’s certificate of incorporation and bylaws and/or under applicable law.

  • Agreement to Pay Attorneys’ Fees and Expenses In the event the Company should default under any of the provisions of this Lease Agreement and the Agency should employ attorneys or incur other expenses for the collection of amounts payable hereunder or the enforcement of performance or observance of any obligations or agreements on the part of the Company herein contained, the Company shall, on demand therefor, pay to the Agency the reasonable fees of such attorneys and such other expenses so incurred.

  • AGENTS OF THE AGREEMENT 1.1 The Authorized Official(s) for the State of Montana shall be the State Accountant of the State Financial Services Division, Department of Administration in all matters concerning this Agreement.

  • Representations and Warranties of the Authority The Authority represents and warrants to the Concessionaire that:

  • Penalties for violation of law The Procurement Code, Sections 13-1-28 through 13-1-199, XXXX 0000, imposes civil and criminal penalties for its violation. In addition, the New Mexico criminal statutes impose felony penalties for illegal bribes, gratuities and kickbacks.

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