Legally Available Funds definition

Legally Available Funds means funds duly appropriated or otherwise legally available for the purpose of making payments under this Contract.

Legally Available Funds means, with respect to any redemption of the Warrant Securities hereunder, the amount of funds of the Company legally available for such redemption as required under Sections 151 and 160 of the General Corporation Law of the State of Delaware, as amended, or any comparable provision of any succeeding law.

Legally Available Funds means funds that the governing body of Obligor duly appropriates or are otherwise legally available for the purpose of making Contract Payments under this Contract, including monies held in the Vendor Payable Account to the extent that such moneys are used to prepay Contract Payments or Purchase Option Price. "Obligee" means the entity originally listed above as Obligee or any of its assignees.

Examples of Legally Available Funds in a sentence

• Subject to Section 9, and in addition to any other dividends provided for herein, the Corporation shall pay in cash, when, as and if declared by the Board, out of funds legally available therefor as provided by the GCL (the "Legally Available Funds"), dividends at the quarterly rate equal to the Applicable Dividend Rate (as defined below) per issued and outstanding Preferred Share, per calendar quarter.

• The Corporation may, at its option, to the extent it shall have Legally Available Funds therefor, redeem all (but not less than all) of the outstanding Preferred Shares, at any time on or after the date which is the fifth anniversary of the original date of issuance of Preferred Shares.

• Notwithstanding anything in a Tax-Exempt Lease to the contrary, any payment that Lessee is required to make pursuant to this subsection (b) shall be made only from Legally Available Funds.

• Notwithstanding anything in any Lease to the contrary, any indemnity amount payable by Lessee as provided in this Section 24.2 shall be payable solely from Legally Available Funds.

• Agency's obligation to make Payments hereunder constitutes a current obligation payable exclusively from Legally Available Funds and shall not be construed to be an indebtedness within the meaning of any applicable constitutional or statutory limitation or requirement.

More Definitions of Legally Available Funds

Legally Available Funds means cash funds that are legally available to the Corporation to pay dividends and make redemption and other payments to the Holders of the Series A Preferred Stock and that are not then restricted by any Debt Blocker.

Legally Available Funds means funds or other property the distribution of which in accordance herewith would not be prohibited by or violate Section 17-607 of the Act.

Legally Available Funds means, with respect to any purchase of Warrant Securities pursuant to Section 19(a), the amount of funds of the Company legally available therefor under the corporate laws under which the Company is organized and existing.

Legally Available Funds means, with respect to any redemption of this Warrant pursuant to Section 5 hereof, the amount of funds of the Company legally available for such redemption as required under the applicable governing law.

Legally Available Funds means the Tax Increment Revenues and the DDA Revenues. “Payment Date” means a Principal Payment Date or an Interest Payment Date.

Legally Available Funds means, with respect to any payment required to be made by the Authority or the District, (a) unrestricted funds on deposit in the general fund or any capital improvement fund of the Authority or the District, or (b) any other revenues or funds of the Authority or the District which may lawfully be applied to make such payment.

Legally Available Funds means all unrestricted funds of the Town in the General Fund, including any funds received by the General Fund from an Enterprise Fund pursuant to an interfund loan authorized by the Town Council to transfer and use such funds to pay the Notes and the related Loans and all other Obligations.