Security for Initial Consideration Clause Samples

Security for Initial Consideration. The Authority shall sign and deliver 12 to the Navy through escrow at the Initial Closing a Promissory Note in the principal amount of 13 the Initial Consideration. The Promissory Note shall bear interest and be payable in 14 installments as more particularly described in Section 4.2.1 above. The Promissory Note shall 15 be secured by (i) an Assignment of Rents encumbering the rents, issues and profits payable 16 under all interim subleases for the Navy Real Property including, but not limited to, that certain 17 Sublease, Development, Marketing and Property Management Agreement between the 18 Authority and the ▇▇▇▇ ▇▇▇▇▇▇▇ Company dated March 17, 1999, as amended from time to 19 time, and any successor interim subleases or leases relating to the Navy Real Property whether 20 executed prior to or after a conveyance hereunder, and (ii) to the extent the rents, issues and 21 profits assigned under the Assignment of Rents are not sufficient to cover the unpaid principal 22 and interest due under the Promissory Note, a Subordinate Pledge of Net Available Tax 23 Increment Revenues generated from the Navy Real Property prior to or after a conveyance 24 hereunder. The Subordinate Pledge shall be subordinate to the pledge of Net Available Tax 25 Increment Revenues to the holders of any bonded indebtedness and to the Developer under the 26 DDA; provided, however, that the DDA shall provide that all such Net Available Tax 27 Increment Revenues to be paid directly to Developer in reimbursement for the expenditure of 28 Qualified Project Costs (as defined in the DDA) shall be withheld from Developer by the 29 Authority and held for the account of the Navy upon the occurrence of and for the duration of 30 any default of a payment of Initial Consideration hereunder. “Net Available Tax Increment
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Related to Security for Initial Consideration

  • Initial Consideration On the Effective Date, Retrocessionaire shall reimburse Retrocedant for one hundred percent (100%) of any and all unearned premiums paid by Retrocedant under such Inuring Retrocessions net of any applicable unearned ceding commissions paid to Retrocedant thereunder.

  • Additional Consideration Retrocessionaire agrees to pay under the Inuring Retrocessions all future premiums Retrocedant is obligated to pay pursuant to the terms of the Inuring Retrocessions to the extent that such premiums are allocable to Retrocessionaire in the manner set forth in Exhibit E hereto, and not otherwise paid by Retrocessionaire and to indemnify Retrocedant for all such premiums paid directly by Retrocedant, net of any ceding commissions and similar amounts paid by Third Party Retrocessionaires to Retrocedant.

  • Additional Considerations For FEMA’s Assistance to Firefighters Grant (AFG) Program, recipients must include a penalty clause in all contracts for any AFG-funded vehicle, regardless of dollar amount. In that situation, the contract must include a clause addressing that non-delivery by the contract’s specified date or other vendor nonperformance will require a penalty of no less than $100 per day until such time that the vehicle, compliant with the terms of the contract, has been accepted by the recipient. This penalty clause should, however, account for force majeure or acts of God. AFG recipients should refer to the applicable year’s Notice of Funding Opportunity (NOFO) for additional information, which can be accessed at ▇▇▇▇.▇▇▇.

  • Special Considerations The Provider position may be abolished at any time by the Collin County Commissioners Court.

  • TERMINATION FOR IMPROPER CONSIDERATION 8.44.1 The County may, by written notice to the Contractor, immediately terminate the right of the Contractor to proceed under this Contract if it is found that consideration, in any form, was offered or given by the Contractor, either directly or through an intermediary, to any County officer, employee, or agent with the intent of securing this Contract or securing favorable treatment with respect to the award, amendment, or extension of this Contract or the making of any determinations with respect to the Contractor’s performance pursuant to this Contract. In the event of such termination, the County shall be entitled to pursue the same remedies against the Contractor as it could pursue in the event of default by the Contractor. 8.44.2 The Contractor shall immediately report any attempt by a County officer or employee to solicit such improper consideration. The report shall be made either to the County manager charged with the supervision of the employee or to the County Auditor-Controller's Employee Fraud Hotline at (▇▇▇) ▇▇▇-▇▇▇▇. 8.44.3 Among other items, such improper consideration may take the form of cash, discounts, services, the provision of travel or entertainment, or tangible gifts.