Revenue and Funds Sample Clauses

Revenue and Funds. 23 Section 4.1. Source of Payment of Bonds 23 Section 4.2. Bond Fund 23 Section 4.3. Construction Fund 24 Section 4.4. [Debt Service Reserve Fund 25 Section 4.5. TIF Revenues, Taxpayer Payments and General Revenues 26 Section 4.6. General Revenues 26 Section 4.7. Trust Funds 26 Section 4.8. Investment 27 ARTICLE V. REDEMPTION OF SERIES 2019 BONDS BEFORE MATURITY 28 Section 5.1. Redemption Dates and Prices 28 Section 5.2. Notice of Redemption 28 Section 5.3. Notice of Redemption to Trustee 28 Section 5.4. Cancellation 29 Section 5.5. Redemption Payments 29 ARTICLE VI. GENERAL COVENANTS 30 Section 6.1. Payment of Principal and Interest 30 Section 6.2. Performance of Covenants 30 Section 6.3. Filing of Indenture, Financing Agreement and Security Instruments 31 Section 6.4. Inspection of Books 31 Section 6.5. List of Bondholders 31 Section 6.6. Rights Under Financing Agreement 31 Section 6.7. Investment of Funds 31 Section 6.8. Non-presentment of Bonds 31 Section 6.9. Direction of Bondholders 32 Section 6.10. Certificate of Appropriation 32 (End of Article VI) 32 ARTICLE VII. DEFAULTS AND REMEDIES 33 Section 7.1. Events of Default 33 Section 7.2. Reserved 33 Section 7.3. Remedies; Rights of Bondholders 33 Section 7.4. Right of Bondholders to Direct Proceedings 34 Section 7.5. Application of Moneys 34 Section 7.6. Remedies Vested In Trustee 35 Section 7.7. Rights and Remedies of Bondholders 35 Section 7.8. Termination of Proceedings 36 Section 7.9. Waivers of Events of Default 36 ARTICLE VIII. THE TRUSTEE AND PAYING AGENT 37 Section 8.1. Acceptance of the Trusts 37 Section 8.2. Fees, Charges and Expenses of Trustee and Paying Agent 41 Section 8.3. Notice to Bondholders if Default Occurs 41 Section 8.4. Intervention by Trustee 41 Section 8.5. Successor Trustee 41 Section 8.6. Resignation by the Trustee 41 Section 8.7. Removal of the Trustee 42 Section 8.8. Appointment of Successor Trustee by the Bondholders; Temporary Trustee 42 Section 8.9. Concerning Any Successor Trustees 42 Section 8.10. Trustee Protected in Relying Upon Resolutions, etc 42 Section 8.11. Appointment of Paying Agent and Registrar; Resignation or Removal of Paying Agent 42
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Revenue and Funds 
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Related to Revenue and Funds

  • Current Revenues Under Texas law, a contract with a governmental entity that contains a claim against future revenues is void; therefore, each party paying for the performance of governmental functions or services must make those payments from current revenues available to the paying party.

  • PROJECT FUNDS INDOT will not share in the cost of the Project. INDOT will disburse funds from time to time; however, INDOT will be reimbursed by the Federal Highway Administration (FHWA) or the LPA. Payment will be made for the services performed under this Contract in accordance with Attachment D (Project Funds), which is herein attached to and made an integral part of this Contract.

  • Good Funds All amounts payable by the parties at Closing, including any loan proceeds, Cash at Closing 120 and closing costs, must be in funds that comply with all applicable Colorado laws, including electronic transfer funds, certified 121 check, savings and loan teller’s check and cashier’s check (Good Funds).

  • Current Revenue The funds distributed hereunder shall be paid solely from lawfully available funds of the SEDC. Under no circumstances shall the obligations hereunder be deemed to create any debt within the meaning of any constitutional or statutory provision. None of the obligations under this Agreement shall be pledged or otherwise encumbered in favor of any commercial lender and/or similar financial institution.

  • Unexpended Funds Grantee understands and agrees that funds which remain unexpended at the end of the term of the Agreement or upon termination of the Agreement shall be returned to the Commonwealth within sixty (60) days of the project’s ending date or termination date along with the submission of the Final Completion Report and/or Final Expenditure Report, depending on the applicable program requirements.

  • Unused Escrow Funds In the event that a Closing does not occur when required under the Contract, or in the event that the Closing does occur but Escrow Funds remain in an account with Escrow Agent, the Escrow Agent shall notify OPWC in writing promptly thereafter. After receipt of such notice, OPWC shall deliver written instructions to Escrow Agent directing Escrow Agent’s release of the Escrow Funds. Immediately upon Escrow Agent’s receipt of such notice from OPWC, Escrow Agent shall release the Escrow Funds, or balance thereof, in accordance with OPWC’s written instructions.

  • Commitment of Current Revenues Only In the event that, during any term hereof, the Commissioners Court does not appropriate sufficient funds to meet the obligations of County under this Agreement, County may terminate this Agreement upon ninety (90) days written notice to Company. County agrees, however, to use reasonable efforts to secure funds necessary for the continued performance of this Agreement. The parties intend this provision to be a continuing right to terminate this Agreement at the expiration of each budget period of County. Agreements for the acquisition, including lease of real or personal property under Tex. Loc. Govt. Code §271.903: In the event that, during any term hereof, the Commissioner’s Court does not appropriate sufficient funds to meet the obligations of County under this Agreement, County may terminate this Agreement upon ninety (90) days written notice to Company, County agrees, however, to use a best efforts attempt to obtain and appropriate funds for payment of the Agreement. The parties intend this provision, if applicable, to be a continuing right to terminate this at the expiration of each budget period of County in accordance with Tex. Loc. Govt. Code §271.903 (Xxxxxx Supp. 1996).

  • Financial Considerations 5.1 In the event aggregate funding provided to SCDDO from county, state and/or federal sources is reduced or in any way becomes insufficient to fund this Agreement, the obligations of both SCDDO and the CSP must thereupon be: (1) reduced on a pro rata basis, or (2) renegotiated or terminated, provided that any termination of this Agreement must be without prejudice to any obligations or liabilities of the parties accrued prior to the termination.

  • Deposits into Escrow Account The Concessionaire shall deposit or cause to be deposited the following inflows and receipts into the Escrow Account:

  • Xxxxxxx Money Deposit (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Hundred Thousand and No/100 Dollars ($300,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to the expiration of the Review Period, deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

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