CCD O&M Amount Sample Clauses

CCD O&M Amount. The Parties and the City of Denver have entered into an Inter-Governmental Agreement dated September 14, 2015 (the “Denver IGA”) pursuant to which Denver has agreed to make annual payments of $2,688,010 (as they may be reduced pursuant to the terms of the Denver IGA in the event of construction cost savings) in equal installments to the Project for thirty years, commencing upon Substantial Completion of the Project (the “CCD O&M Amount”). It is anticipated that the CCD O&M Amount will be received by CDOT at the beginning of each Contract Year of the C-70 Project Agreement, with the first CCD O&M Amount to be made upon Substantial Completion of the Project. For purposes of netting the CCD O&M Amount as provided for in Section IV.4 of this Agreement, it is contemplated that the CCD O&M Amount payable in the first Contract Year may be prorated as between CDOT and HPTE, from the Substantial Completion Date through June 30 of first Contract Year, in order to align future years’ OMR Payment budgeting with the state fiscal year. With respect to the CCD O&M ▇▇▇▇▇▇ and the Denver IGA, the Parties further agree as follows: a. CDOT shall timely remit any CCD O&M Amount received from Denver to HPTE, which funds shall be used by HPTE solely to satisfy its obligation with respect to the OMR Payment due to the Developer under the C-70 Project Agreement. b. HPTE shall ensure that such funds are set aside and encumbered in accordance with State Fiscal Rules to enable payment of OMR Payments when scheduled pursuant to the C-70 Project Agreement. c. The Parties each agree to utilize commercially reasonable efforts to enforce their respective rights and obligations under the Denver IGA, including undertaking efforts to ensure Denver appropriates funds for its CCD O&M Amount obligations in each fiscal year. d. The Parties agree that CDOT shall bear the risk of Denver failing to make payment of the CCD O&M Amount, or any portion thereof, when due, and any such shortfall shall be allocated 100% to CDOT. CDOT shall be solely responsible for identifying and obtaining alternative funding to cover such shortfalls and making such amounts available to HPTE to fund the OMR Payments due to the Developer under the C-70 Project Agreement. CDOT shall be entitled to seek recovery of such unpaid amounts from the City of Denver pursuant to the terms of the Denver IGA, and any such recovery shall be payable in full to CDOT. Any moneys made available under this provision shall not be deemed a g...
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Related to CCD O&M Amount

  • Maximum Amount In consideration of the services to be performed by Contractor, the State agrees to pay Contractor, in accordance with the payment provisions specified in Attachment B, a sum not to exceed $250,000.00.

  • Required Reserve Amount So long as this Warrant remains outstanding, the Company shall at all times keep reserved for issuance under this Warrant a number of shares of Common Stock at least equal to 100% of the maximum number of shares of Common Stock as shall be necessary to satisfy the Company’s obligation to issue shares of Common Stock under the Warrants then outstanding (without regard to any limitations on exercise) (the “Required Reserve Amount”); provided that at no time shall the number of shares of Common Stock reserved pursuant to this Section 1(g) be reduced other than in connection with any exercise of Warrants or such other event covered by Section 2(c) below. The Required Reserve Amount (including, without limitation, each increase in the number of shares so reserved) shall be allocated pro rata among the holders of the Warrants based on the number of shares of Common Stock issuable upon exercise of Warrants held by each holder thereof on the Issuance Date (without regard to any limitations on exercise) (the “Authorized Share Allocation”). In the event that a holder shall sell or otherwise transfer any of such holder’s Warrants, each transferee shall be allocated a pro rata portion of such holder’s Authorized Share Allocation. Any shares of Common Stock reserved and allocated to any Person which ceases to hold any Warrants shall be allocated to the remaining holders of Warrants, pro rata based on the number of shares of Common Stock issuable upon exercise of the Warrants then held by such holders thereof (without regard to any limitations on exercise).

  • Gross Proceeds The aggregate purchase price of all Shares sold for the account of the Company through all Offerings, without deduction for Sales Commissions, volume discounts, any marketing support and due diligence expense reimbursement or Organization and Offering Expenses. For the purpose of computing Gross Proceeds, the purchase price of any Share for which reduced Sales Commissions are paid to the Dealer Manager or a Soliciting Dealer (where net proceeds to the Company are not reduced) shall be deemed to be the full amount of the offering price per Share pursuant to the Prospectus for such Offering without reduction.

  • Total Contract Amount The contract total for services shall not exceed $1,200,000. Pricing shall be per Exhibit F attached.

  • Minimum Amount No prepayment shall be required pursuant to Section 5.2(a)(i) (i) in the case of any Disposition yielding Net Cash Proceeds of less than $1,000,000 in the aggregate and (ii) unless and until the amount at any time of Net Cash Proceeds from Prepayment Events required to be applied at or prior to such time pursuant to such Section and not yet applied at or prior to such time to prepay Term Loans pursuant to such Section exceeds (x) $10,000,000 for a single Prepayment Event or (y) $50,000,000 in the aggregate for all Prepayment Events (other than those which are either under the threshold specified in subclause (i) or over the threshold specified in subclause (ii)(x)) in any one fiscal year, at which time all such Net Cash Proceeds referred to in this subclause (y) with respect to such fiscal year shall be applied as a prepayment in accordance with this Section 5.2.