Common use of Acceleration by RUS’s Purchase of the Bond Clause in Contracts

Acceleration by RUS’s Purchase of the Bond. If an Event of Default occurs, and RUS purchases from FFB the Bond in its entirety in the manner provided in Section 13.5 of the Bond Purchase Agreement, then the entire purchase price shall be included in the Principal Amount of the Reimbursement Note as defined therein and shall be immediately due and payable to RUS. Payment to RUS of all amounts due under the Reimbursement Note after such an acceleration shall satisfy in full all obligations of the Borrower under the Bond and Reimbursement Note and all corresponding obligations under the other Bond Documents, including any obligations to reimburse RUS for any payments thereafter made by RUS under the RUS Guarantee.

Appears in 5 contracts

Samples: Guarantee Agreement (National Rural Utilities Cooperative Finance Corp /Dc/), Bond Guarantee Agreement (National Rural Utilities Cooperative Finance Corp /Dc/), Bond Guarantee Agreement (National Rural Utilities Cooperative Finance Corp /Dc/)

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