Examples of Loan Repayments in a sentence
The District may not take any action or permit or suffer any action to be taken if the result of the same would be to cause the Loan Repayments to be “federally guaranteed” within the meaning of Section 149(b) of the Tax Code.
The District’s obligation to pay the Loan Repayments is a special obligation of the District limited solely to the Net Revenues and from amounts pledged by the District under Section 3.7. Under no circumstances is the District required to advance moneys derived from any source of income other than the Net Revenues and other sources specifically identified herein for the payment of the Loan Repayments, and no other funds or property of the District are liable for the payment of the Loan Repayments.
The District may not take, or permit or suffer to be taken, any action with respect to the proceeds of the Loan Repayments which, if such action had been reasonably expected to have been taken, or had been deliberately and intentionally taken, on the Closing Date would have caused the Loan Repayments to be “arbitrage bonds” within the meaning of Section 148(a) of the Tax Code.
If the District prepays the Loan Repayments in full, the District’s obligations under this Loan Agreement shall thereupon cease and terminate, including but not limited to the District’s obligation to pay Loan Repayments under this Section 3.5.
If the amount of Net Revenues on deposit in the Wastewater Enterprise Fund is any time insufficient to enable the District to pay when due the Loan Repayments and the principal of and/or interest on Parity Obligations, such payments shall be made by the District on a pro rata basis.