TIF Notes Sample Clauses

TIF Notes. (a) The Village hereby agrees to issue, authenticate and deliver to the Developer or its registered assigns, in exchange for the payment or incurrence by Developer or any Affiliate thereof of Economic Development Project Costs evidenced as described in this Section 4.02 and the Term Sheet attached as Exhibit D to the Annexation Agreement, one or more TIF Note(s) or series of TIF Note(s) in an aggregate original principal amount equal to sum of (i) $100,000,000 plus (ii) any cost of the Road Projects paid by Developer or an Affiliate which exceeds $5,500,000 plus (iii) any cost of the Base Water and Sewer System not funded with the DCCA Loan plus (iv) any other costs mutually agreed to between the Village and Developer (the "Initial Original Principal Amount"); provided, however, any increase described in clause (ii) shall not exceed $18,000,000 and the aggregate increase described in clauses (ii) and (iii) shall not exceed $25,000,000. The Village agrees to issue one or more TIF Note(s) or series of TIF Note(s) subject to the above limitation in aggregate original principal amount and such TIF Notes shall be deemed purchased by Developer by the payment or incurrence of the Economic Development Project Costs which shall be evidenced as provided in Section 4.02 hereof. The principal amount of the TIF Note(s) shall accrete and appreciate at ten percent (10%) per annum, compounded semi-annually until the earlier of the Interest Commencement Date or the date interest accrued on the TIF Notes on a current (semi-annual basis). (b) The Developer or its registered assigns shall, at the option of the Developer, be entitled to have the TIF Notes issued from time to time, or the original principal amount of TIF Notes theretofore issued to be increased from time to time, in an original principal amount not to exceed the limitations described herein, by the payment or incurrence by Developer or any Affiliate of Economic Development Project Costs and the submission of a Note Requisition Request to the Trustee in form of EXHIBIT I hereto. The original principal amount of the TIF Notes shall be increased dollar-for-dollar for the Economic Development Project Costs so evidenced by any such Note Requisition Request, subject to the limitation described herein. The TIF Note(s) will be issued in such form and subject to such terms and conditions as shall be provided in the TIF Note Ordinance, the Indenture and consistent with the term sheet attached as EXHIBIT D to the Annexati...
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TIF Notes. In order for Developer to obtain the TIF Assistance contemplated by this Agreement, the Authority shall issue, subject to the terms and conditions of this Agreement, two (2) “pay-as-you-go” TIF notes (each a “TIF Note” and collectively, the “TIF Notes”) to Developer in the aggregate principal amount of up to $7,550,000 (the “Maximum Principal Amount”). One TIF Note shall be issued after the Completion of the Phase 1 Minimum Improvements (“Phase 1 TIF Note”) and Developer’s satisfaction of the other conditions to issuance of the Phase 1 TIF Note set forth in Section 3.4(d). The maximum original principal amount of the Phase 1 TIF Note shall be $5,935,000. The second TIF Note shall be issued upon the Completion of the Phase 2 Minimum Improvements (“Phase 2 TIF Note”) and Developer’s satisfaction of the other conditions to issuance of the Phase 2 TIF Note set forth in Section 3.4(e). The maximum original principal amount of the Phase 2 TIF Note shall be $1,615,000. Each TIF Note shall be issued in substantially the form attached as Exhibit H.
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TIF Notes. There are no tax increment allocation financing notes with respect to the Company’s intermodal project in Will County, Illinois outstanding other than (i) the Senior Lien Notes (Tax Increment Allocation Notes, Series 20▇▇ (▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇roject)) issued by the Village of ▇▇▇▇▇▇ on November 30, 2003 to Bank of New York, as Trustee under that certain Master Trust Agreement dated as of January 1, 2004 (the “Master Trust Agreement”) as supplemented by that certain Series Trust Agreement dated as of January 1, 2004 (the “Series Trust Agreement and, together with the Master Trust Agreement, the “Trust Agreement”), each by and between CNT Administrator, LLC and Bank of New York , as Master Trustee (the “Master Trustee”) in an original principal amount of $47,326,542.23 (the “2003 Senior TIF Notes”) and (ii) Junior Lien Notes (Tax Increment Allocation Notes, Series 20▇▇ (▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇roject)) issued by the Village of ▇▇▇▇▇▇ on November 30, 2003 to CenterPoint Intermodal LLC and CenterPoint Realty Services Corporation in an original principal amount of $63,556,145.77 (the “2003 Junior Lien Notes”). No tender rights certificates evidencing tender rights have been issued with respect to the 2003 Junior Lien Notes. CenterPoint Intermodal LLC has good and marketable title to the 2003 Junior Lien Notes, free and clear of all claims, liens, security interests encumbrances. CNT Administrator LLC has good and marketable title to the Class B Certificates issued to CNT Administrator LLC by the trust created by the Trust Agreement , free and clear of all claims, liens, security interests encumbrances but in all respects subject and subordinate to the right, title and interest of the holders of the Class A Certificates (as defined in the Trust Agreement). There are no tax increment allocation financing notes or payment certificates with respect to the Company’s Village of ▇▇▇▇▇▇ redevelopment project outstanding.
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TIF Notes 
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Related to TIF Notes

  • Notes (a) ▇▇▇▇▇▇▇▇’s obligation to pay the principal of, and interest on, the Loans made by each Lender shall be evidenced in the Register maintained by the Administrative Agent pursuant to Section 13.04 and shall, if requested by such ▇▇▇▇▇▇, also be evidenced by a promissory note. In such event, Borrower shall promptly prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its registered assigns) substantially in the form of Exhibit B-1, Exhibit B-2 or Exhibit B-3, as applicable (each a “Note”). (b) Each Lender will note on its internal records the amount of each Loan made by it and each payment in respect thereof and prior to any transfer of any of its Notes will endorse on the reverse side thereof the outstanding principal amount of Loans evidenced thereby. Failure to make any such notation or any error in such notation shall not affect Borrower’s obligations in respect of such Loans. For the avoidance of doubt, to the extent any conflict arises between the records maintained pursuant to this Section and the Register, the Register shall control. (c) Notwithstanding anything to the contrary contained above in this Section 2.05 or elsewhere in this Agreement, Notes shall only be delivered to Lenders that at any time specifically request the delivery of such Notes. No failure of any Lender to request or obtain a Note evidencing its Loans to Borrower shall affect or in any manner impair the obligations of Borrower to pay the Loans (and all related Obligations) incurred by Borrower which would otherwise be evidenced thereby in accordance with the requirements of this Agreement, and shall not in any way affect the security or guarantees therefor provided pursuant to the various Credit Documents. Any Lender that does not have a Note evidencing its outstanding Loans shall in no event be required to make the notations otherwise described in the preceding clause (b). At any time when any Lender requests the delivery of a Note to evidence any of its Loans, Borrower shall promptly execute and deliver to the respective Lender the requested Note in the appropriate amount or amounts to evidence such Loans.