October 15, 2012 - City of Laredo

October 15, 2012 - City of Laredo October 15, 2012 - City of Laredo

ci.laredo.tx.us
from ci.laredo.tx.us More from this publisher
20.06.2013 Views

(vi) All documents, including financing statements, affidavits, notices and similar instruments, in form satisfactory to Lessor, which Lessor reasonably deems necessary or appropriate at that time pursuant to Section 6.02; (vii) A waiver or waivers of interest in the Equipment, satisfactory to Lessor, from any mortgagee or any other party having an interest in the real estate on which the Equipment will be located and/or landlord of the real estate on which the Equipment will be located; (viii) [reserved]; (ix) A copy of a fully completed and exe the Acquisition Fund Agreement shall satisfying the conditions set forth in Se (xi) Such other ite rovided after the (b) In addition, the per f its obligations under this to: (i) no Material Adverse ement, and (ii) no Event of Default having occurred Amount with the Subject to Section 3.03, Lessee shall promptly pay United States of America, to Lessor on the dates and in interest rate payabl nder shall never exceed the then maximum interest rate allowed for similar governmental obligations pursuant to Chapter 1204, Texas Government Code, as amended. Section 4.02. Interest and Principal Components. A portion of each Rental Payment is paid as, and represents payment of, interest, and the balance of each Rental Payment is paid as, and represents payment of, principal as more fully detailed on the Payment Schedule.

Section 4.03. Rental Payments to Constitute a Current Expense of Lessee. Lessor and Lessee understand and intend that the obligation of Lessee to pay Rental Payments shall constitute a current expense of Lessee payable solely from its general fund or other funds that are legally available for that purpose and shall not in any way be construed to be a debt of Lessee in contravention of any applicable constitutional or statutory limitation or requirement concerning the creation of indebtedness by Lessee, nor shall anything contained herein constitute a pledge of the general tax revenues, funds or moneys of Lessee. Section 4.04. Rental Payments to be Unc the obligations of Lessee to make Rental Payments and to and observe the other covenants and agreements contained in this Agre events without abatement, diminution, deduction, set-off without limitation any failure of the Equipme infirmities in the Equipment or any accident, cond circumstances, or failure of any Vendor to deliver any Equipment or Section 4.05. Reserved. Section 4.06. Event of Taxability. Upon Tax-Exempt Interest Component of charge on Rental Payments or other amounts payable based on th d and be payable at the Interest Component is ss income of the owner or d by law, and Lessee will the interest component at the Taxable Rate. ability" means a determination that the he gross income of the to Equipment Costs and of the Acquisition Period s an Acceptance Certificate (in the form attached hereto to all or a portion of the nths and any remaining principal balance owing Section 5.01. Delivery, Installation and Acceptance of Equipment. (a) Lessee shall order the Equipment, cause the Equipment to be delivered and installed at the location specified in the Equipment Schedule and pay any and all delivery and installation costs and other Equipment Costs in connection therewith. When the Equipment has

(vi) All documents, including financing statements, affidavits, notices and<br />

similar instruments, in form satisfactory to Lessor, which Lessor reasonably deems<br />

necessary or appropriate at that time pursuant to Section 6.02;<br />

(vii) A waiver or waivers <strong>of</strong> interest in the Equipment, satisfactory to Lessor,<br />

from any mortgagee or any other party having an interest in the real estate on which the<br />

Equipment will be located and/or landlord <strong>of</strong> the real estate on which the Equipment will<br />

be located;<br />

(viii) [reserved];<br />

(ix)<br />

A copy <strong>of</strong> a fully completed and exe<br />

the Acquisition Fund Agreement shall<br />

satisfying the conditions set forth in Se<br />

(xi) Such other ite<br />

rovided after the<br />

(b) In addition, the per f its obligations under this<br />

to: (i) no Material Adverse<br />

ement, and (ii) no Event <strong>of</strong><br />

Default having occurred<br />

Amount with the<br />

Subject to Section 3.03, Lessee shall promptly pay<br />

United States <strong>of</strong> America, to Lessor on the dates and in<br />

interest rate payabl nder shall never exceed the then maximum interest rate allowed for<br />

similar governmental obligations pursuant to Chapter 1204, Texas Government Code, as<br />

amended.<br />

Section 4.02. Interest and Principal Components. A portion <strong>of</strong> each Rental Payment is<br />

paid as, and represents payment <strong>of</strong>, interest, and the balance <strong>of</strong> each Rental Payment is paid as,<br />

and represents payment <strong>of</strong>, principal as more fully detailed on the Payment Schedule.

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!