Contracts & Agreements_150-2016 - Laserfiche WebLink

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NOW, THEREFORE, in consideration of the promises and the mutual agreements herein contained, the parties do hereby agree as follows: ARTICLE I DEFINITIONS, CONSTRUCTION & CONDITIONS PRECEDENT SECTION 1.01. Definitions. Unless the context clearly otherwise requires, the capitalized terms in this Agreement shall have the respective meanings set forth below. "2013A Bonds" means the obligations evidenced by that certain 2013 Solid Waste Installment Sale Agreement by and between the Purchaser and the Redlands Financing Authority dated October 1, 2013 (the"2013 ISA"), under which the Purchaser is obligated to make installment sale payments solely from Net Solid Waste Revenues (as that term is defined in the 2013 ISA) and which are secured by a pledge of revenues of the Purchaser's Solid Waste Enterprise Fund that is on parity with the obligations created under this Agreement. "2015 Mank ISA' means the Installment Sale Agreement by and between the Purchaser and IBank dated as of March 2, 2015, Agreement No. 14-105. "Act" means the Bergeson-Peace Infrastructure and Economic Development Bank Act, constituting Division 1 of Title 6.7 of the California Government Code (commencing at section 63000 thereof) as now in effect and as it may from time to time hereafter be amended. "Additional Payments" means the payments made pursuant to Section 2.06. "Agreement" means this Installment Sale Agreement, between IBank and the Purchaser, as originally entered into and as amended from time to time pursuant to the provisions hereof. "Business Day" means any day, Monday through Friday, which is not a legal holiday of the State or the trustee of the Proceeds Bonds or Secured Bonds. "Certificate of the Purchaser" means a request or certificate, in writing, signed by a duly authorized representative of the Purchaser. "Code" means the Internal Revenue Code of 1986, as amended, or any successor statute thereto, and any regulations promulgated thereunder. "Criteria" means the"Criteria, Priorities and Guidelines for the Selection of Projects for Financing under the ISRF Program" dated February 23, 2016, as may thereafter be amended from time to time. "Current Revenues" means revenues which are both received by the Purchaser and utilized for the payment of Purchase Price under this Agreement within a six month period. "Debt Service"means, for any Fiscal Year, the sum of interest, and principal due and payable under this Agreement during such Fiscal Year, the 113ank Annual Fee for such Fiscal Year and any Parity Debt Service and debt service on any senior debt for such Fiscal Year. 2