Possible Deficiencies Sample Clauses

Possible Deficiencies. A. If at any time it shall appear to the Escrow Bank that the money and any interest on and principal of the Federal Securities in escrow allocable for such use under this Agreement, including, without limitation, the known minimum yield from the Initial Federal Securities, will not be sufficient to make any required payment due on the Refunded Bond Requirements as the same becomes due, the Escrow Bank shall notify in writing the Treasurer as soon as reasonably practicable of such fact and the amount of such deficiency. B. Thereupon the Agency shall forthwith pay to the Escrow Bank for deposit in the Escrow Account such additional moneys as may be required. C. The Escrow Bank shall in no manner be responsible for the Agency’s failure to make any such deposit.
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Possible Deficiencies. (a) If at any time the Escrow Agent has actual knowledge that the moneys in the Refunding Escrow, including the anticipated proceeds of the Investment Securities, will not be sufficient to make all payments required by Section 4 hereof, the Escrow Agent shall notify the Community Facilities District in writing as soon as is reasonably practicable of such fact, the amount of such deficiency and, if known, the reason therefor. (b) Upon receipt of the notice specified in subsection (a) of this Section, the Community Facilities District shall deposit in the Refunding Escrow, from any legally available moneys, such additional moneys as may be required to pay fully the aggregate amounts to become due and payable in connection with the payment of the Redemption Price of the Prior Bonds. (c) The Escrow Agent shall in no manner be responsible for the Community Facilities District’s failure to make any such deposit.
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Possible Deficiencies. A. A. If at any time it shall appear to the Escrow Bank that the money and any interest on and principal of the Federal Securities in escrow allocable for such use under this Escrow Agreement will not be sufficient to make any required payment due on the Refunded Certificate Requirements as the same becomes due, the Escrow Bank shall notify in writing the City Manager as soon as reasonably practicable of such fact and the amount of such deficiency. B. Thereupon the City shall forthwith pay to the Escrow Bank for deposit in the Escrow Account such additional moneys as may be required.
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Possible Deficiencies. A. If at any time it shall appear to the Escrow Agent that the money and any interest on and principal of the Federal Securities in escrow allocable for such use under this Escrow Agreement, including, without limitation, the known minimum yield from the Initial Federal Securities, will not be sufficient to make any required payment due on the Refunded Bond Requirements as the same becomes due, the Escrow Agent shall notify in writing the Finance Director as soon as reasonably practicable of such fact and the amount of such deficiency. B. Thereupon the City shall forthwith pay to the Escrow Agent for deposit in the Escrow Account such additional moneys as may be required. C. The Escrow Agent shall in no manner be responsible for the City’s failure to make any such deposit.
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Possible Deficiencies. If at any time the Escrow Agent shall have actual notice that the moneys in any of the respective Funds, including the anticipated proceeds of the Escrow Securities, will not be sufficient to make all payments required by Section 3 hereof from such Fund, the Escrow Agent shall notify the District, the Paying Agent and the Treasurer- Tax Collector in writing as soon as reasonably practicable of such fact and the amount of such deficiency. The Escrow Agent shall in no manner be responsible for any deficiencies in any Fund, other than as a result of its own negligence or willful misconduct. The Escrow Agent may conclusively rely on the report of a nationally recognized firm of independent certified public accountants delivered with respect to each Fund as to the sufficiency of the principal of and interest on the securities to pay interest on and principal and redemption price of the Prior Bonds and interest on the Refunding Bonds in accordance with Section 3.
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Possible Deficiencies. (a) If at any time it shall appear to the Escrow Bank that the moneys and any interest on and the principal of the Federal Securities in escrow allocable for such use hereunder, including, without limitation, the known minimum yield from the Federal Securities initially acquired, will not be sufficient to make any payment due to the holders of any of the respective Defeased Bonds as the respective Defeased Bonds Payments become due, the Escrow Bank shall notify the Board Representative in writing as soon as reasonably practicable of such fact, the amount of such deficiency and the reason therefor. (b) Thereupon the Board shall, in accordance with and subject to the terms of the Bond Resolution, forthwith deposit with the Escrow Bank for deposit in the respective Escrow Account such additional moneys as are legally available for such purpose and as may be required to meet fully the aggregate amounts to become due and payable as the same become due. (c) The Escrow Bank shall in no manner be responsible for the Board’s failure to make any such deposit.
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Related to Possible Deficiencies

  • Performance Deficiencies If the City or the Quality Control Manager determine in their reasonable belief that any of the Infrastructure Improvements are not being constructed in accordance with the Infrastructure Improvement Plans or this Agreement in any material respect, they shall immediately notify RCP and Bliss Sports II in writing stating the alleged deficiency and the City, the Quality Control Manager, the Architect, RCP and Bliss Sports II will meet within seven (7) days of the giving of such notice to discuss whether the Infrastructure Improvements are not being constructed in accordance with the Infrastructure Improvement Plans or this Agreement in any material respect and, if the City, RCP and Architect agree that they are not, then RCP shall cause Bliss Sports II to correct such deficiencies. The failure by the City to provide any notice of any observed deficiency shall not give rise to any liability to the City and shall not be considered a waiver of any right of the City under this Agreement, including, without limitation, the enforcement of the representations and warranties of Bliss Sports II under this Agreement and any warranties that may be made to the City by any Contracting Parties under the Infrastructure Construction Contract Documents with respect to the completion of the Infrastructure Improvements in accordance with the Infrastructure Improvement Plans and the Project Timeline.

  • Waiver; Deficiency Each Grantor waives and agrees not to assert any rights or privileges which it may acquire under Section 9-112 of the New York UCC. Each Grantor shall remain liable for any deficiency if the proceeds of any sale or other disposition of the Collateral are insufficient to pay its Obligations and the fees and disbursements of any attorneys employed by the Administrative Agent or any Lender to collect such deficiency.

  • Borrowing Base Deficiency (i) Other than as provided in clause (ii) below, if the aggregate outstanding amount of the Advances plus the Letter of Credit Exposure ever exceeds the lesser of the (y) Borrowing Base and (z) the aggregate Commitments, the Borrower shall, after receipt of written notice from the Administrative Agent regarding such deficiency, take any of the following actions (and the failure of the Borrower to take such actions to remedy such Borrowing Base deficiency shall constitute an Event of Default): (A) prepay Advances or, if the Advances have been repaid in full, make deposits into the Cash Collateral Account to provide cash collateral for the Letter of Credit Exposure, such that the Borrowing Base deficiency is cured within 10 Business Days after the date such deficiency notice is received by the Borrower from the Administrative Agent; (B) pledge as Collateral for the Obligations additional Oil and Gas Properties acceptable to the Administrative Agent and each of Lenders such that the Borrowing Base deficiency is cured within 30 days after the date such deficiency notice is received by the Borrower from the Administrative Agent; (C) (i) deliver, within 10 Business Days after the date such deficiency notice is received by the Borrower from the Administrative Agent, written notice to the Administrative Agent indicating the Borrower’s election to repay the Advances and make deposits into the Cash Collateral Account to provide cash collateral for the Letters of Credit, each in five monthly installments equal to one-fifth of such Borrowing Base deficiency with the first such installment due 30 days after the date such deficiency notice is received by the Borrower from the Administrative Agent and each following installment due 30 days after the preceding installment and (ii) make such payments and deposits within such time periods; provided that, the Borrowing Base deficiency cure permitted under this clause (C) shall not be available to the Borrower unless, concurrent with the written notice delivered to the Administrative Agent electing this option, the Borrower shall have delivered to the Administrative Agent a calculation of the Borrower’s consolidated cash flow forecast and financial projections which demonstrates, to the Administrative Agent’s satisfaction, the Borrower’s ability to make each such installment payments and to otherwise pay its other Debt and trade accounts payable as they become due; or (D) (i) deliver, within 10 Business Days after the date such deficiency notice is received by the Borrower from the Administrative Agent, written notice to the Administrative Agent indicating the Borrower’s election to combine the options provided in clause (B) and clause (C) above, and also indicating the amount to be prepaid in installments and the amount to be provided as additional Collateral, and (ii) make such five equal consecutive monthly installments and deliver such additional Collateral within the time required under clause (B) and clause (C) above. (ii) Upon each reduction of the Borrowing Base, if any, resulting from a Borrowing Base redetermination made under Section 2.02(c)(ii) or (iii), if the aggregate outstanding amount of the Advances plus the Letter of Credit Exposure exceeds the lesser of the (y) Borrowing Base and (z) the aggregate Commitments, then the Borrower shall immediately prepay the Advances or, if the Advances have been repaid in full, make deposits into the Cash Collateral Account to provide cash collateral for the Letter of Credit Exposure, in an amount equal to (A) such portion of the Borrowing Base deficiency resulting from such reduction plus (B) if a Borrowing Base deficiency exists prior to such reduction, then an amount equal to the lesser of (i) the net cash proceeds of the transaction that triggered such Borrowing Base reduction and (ii) such portion of the Borrowing Base deficiency in existence immediately prior to such reduction. (iii) Each prepayment pursuant to this Section 2.05(b) shall be accompanied by accrued interest on the amount prepaid to the date of such prepayment and amounts, if any, required to be paid pursuant to Section 2.12 as a result of such prepayment being made on such date. Each prepayment under this Section 2.05(b) shall be applied to the Advances as determined by the Administrative Agent and agreed to by the Lenders in their sole discretion. The failure of the Borrower to provide a notice of its election within the required 10 days as required in clause (i) above shall be deemed to be an election by the Borrower to take the actions provided in clause (i)(A) above.

  • ERISA Reportable Event A reportable event with respect to a Guaranteed Pension Plan within the meaning of §4043 of ERISA and the regulations promulgated thereunder as to which the requirement of notice has not been waived.

  • Reportable Events Involving the ▇▇▇▇▇ Law Notwithstanding the reporting requirements outlined above, any Reportable Event that involves solely a probable violation of section 1877 of the Social Security Act, 42 U.S.C. §1395nn (the ▇▇▇▇▇ Law) should be submitted by Practitioner to CMS through the self-referral disclosure protocol (SRDP), with a copy to the OIG. If Practitioner identifies a probable violation of the ▇▇▇▇▇ Law and repays the applicable Overpayment directly to the CMS contractor, then Practitioner is not required by this Section III.G to submit the Reportable Event to CMS through the SRDP.