Additional Defeasance Requirements Sample Clauses

Additional Defeasance Requirements. 2024 Series A-2 Bonds bearing interest at other than the Fixed Rate may be discharged pursuant to Section 12.2 of the Master Indenture only if (x)(A) such 2024 Series A-2 Bonds mature or are called for redemption on or prior to the next date upon which such 2024 Series A-2 Bonds are subject to purchase pursuant to Section 7.1, 7.2, 7.3, 7.4 or 7.5 hereof, or (B) the Trustee and the Authority receive evidence satisfactory to the Trustee that the moneys on deposit in the escrow account established to refund such 2024 Series A-2 Bonds are in an amount sufficient to pay any portion of the 2024 Series A-2 Bonds which may be tendered for purchase during the period prior to payment in full of principal of and interest payable on such 2024 Series A-2 Bonds, in which case the tendered 2024 Series A-2 Bonds purchased with moneys in the escrow account will be cancelled, or (C) the Liquidity Facility with respect to the 2024 Series A-2 Bonds will remain in effect until such 2024 Series A-2 Bonds mature or are called for redemption; (y) the Authority waives its right to convert the method for determining the interest rate borne by such 2024 Series A-2 Bond pursuant to Sections 2.10 hereof; and (z) the Trustee and the Authority receive evidence satisfactory to the Trustee that the moneys and Defeasance Securities, if any, deposited with the Trustee for such purpose pursuant to and subject to Section 12.2 of the Master Indenture will be sufficient to pay in full (in addition to the principal of the 2024 Series A-2 Bonds) all interest which may accrue on the 2024 Series A-2 Bonds until their final payment. (End of Article VI) ARTICLE VII PURCHASE OF 2024 SERIES A-2 BONDS Section 7.1. Optional Tenders of 2024 Series A-2 Bonds in the Daily Mode or the Weekly Mode. Subject to Section 7.14 herein, the Owners of 2024 Series A-2 Bonds in a Daily Mode or a Weekly Mode may elect to have their 2024 Series A-2 Bonds (or portions of those Bonds in amounts equal to an Authorized Denominations) purchased on any Business Day at a price equal to the Purchase Price, (i) in the case of 2024 Series A-2 Bonds in a Daily Mode, upon delivery of an irrevocable written notice of tender or irrevocable telephonic notice of tender to the Remarketing Agent, promptly confirmed in writing to the Paying Agent, not later than 11:00 a.m., New York City time, on the Purchase Date specified by the Owner; and (ii) in the case of 2024 Series A-2 Bonds in a Weekly Mode, upon delivery of an irrevocable writte...
Sample 1
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Additional Defeasance Requirements. 2020D-2 Bonds bearing interest at other than the Fixed Rate may be discharged pursuant to Section 11.2 of the Master Indenture only if (x)(A) such 2020D-2 Bonds mature or are called for redemption on or prior to the next date upon which such 2020D-2 Bonds are subject to purchase pursuant to Section 7.1, 7.2, 7.3, 7.4 or 7.5 hereof, or (B) the Trustee and the Authority receive evidence satisfactory to the Trustee that the moneys on deposit in the escrow account established to refund such 2020D-2 Bonds are in an amount sufficient to pay any portion of the 2020D-2 Bonds which may be tendered for purchase during the period prior to payment in full of principal of and interest payable on such 2020D-2 Bonds, in which case the tendered 2020D-2 Bonds purchased with moneys in the escrow will be cancelled, or (C) the Liquidity Facility with respect to the 2020D-2 Bonds will remain in effect until such 2020D-2 Bonds mature or are called for redemption; (y) the Authority waives its right to convert the method for determining the interest rate borne by such 2020D-2 Bond pursuant to Sections 2.11 hereof; and (z) the Trustee and the Authority receive evidence satisfactory to the Trustee that the moneys and Defeasance Securities, if any, deposited with the Trustee for such purpose pursuant to and subject to Section 11.2 of the Master Indenture will be sufficient to pay in full (in addition to the principal of the 2020D-2 Bonds) all interest which may accrue on the 2020D-2 Bonds until their final payment.
Sample 1
Additional Defeasance Requirements. 2020A-1 Bonds bearing interest at other than the Fixed Rate may be discharged pursuant to Section 11.2 of the Master Indenture only if (x)(A) such 2020A-1 Bonds mature or are called for redemption on or prior to the next date upon which such 2020A-1 Bonds are subject to purchase pursuant to Section 7.1, 7.2, 7.3,
Sample 1
Additional Defeasance Requirements. 2018A-2 Bonds bearing interest at other than the Fixed Rate may be discharged pursuant to Section 11.2 of the Master Indenture only if (x)(A) such 2018A-2 Bonds mature or are called for redemption on or prior to the next date upon which such 2018A-2 Bonds are subject to purchase pursuant to Section 7.1, 7.2, 7.3, 7.4 or 7.5 hereof, or (B) the Trustee and the Authority receive evidence satisfactory to the Trustee that the moneys on deposit in the escrow account established to refund such 2018A-2 Bonds are in an amount sufficient to pay any portion of the 2018A-2 Bonds which may be tendered for purchase during the period prior to payment in full of principal of and interest payable on such 2018A-2 Bonds, in which case the tendered 2018A-2 Bonds purchased with moneys in the escrow will be cancelled, or (C) the Liquidity Facility with respect to the 2018A-2 Bonds will remain in effect until such 2018A-2 Bonds mature or are called for redemption;
Sample 1

Related to Additional Defeasance Requirements

  • Defeasance With respect to any Mortgage Loan that, pursuant to the Mortgage Loan documents, can be defeased (a “Defeasance”), (i) the Mortgage Loan documents provide for defeasance as a unilateral right of the Mortgagor, subject to satisfaction of conditions specified in the Mortgage Loan documents; (ii) the Mortgage Loan cannot be defeased within two years after the Closing Date; (iii) the Mortgagor is permitted to pledge only United States “government securities” within the meaning of Treasury Regulations Section 1.860G-2(a)(8)(ii), the revenues from which will be sufficient to make all scheduled payments under the Mortgage Loan when due, including the entire remaining principal balance on the maturity date (or on or after the first date on which payment may be made without payment of a Yield Maintenance Charge or Prepayment Premium) or, if the Mortgage Loan is an ARD Loan, the entire principal balance outstanding on the Anticipated Repayment Date (or on or after the first date on which payment may be made without payment of a Yield Maintenance Charge or Prepayment Premium), and if the Mortgage Loan permits partial releases of real property in connection with partial defeasance, the revenues from the collateral will be sufficient to pay all such scheduled payments calculated on a principal amount equal to a specified percentage at least equal to 110% of the allocated loan amount for the real property to be released; (iv) the defeasance collateral is not permitted to be subject to prepayment, call, or early redemption; (v) the Mortgagor is required to provide a certification from an independent certified public accountant that the collateral is sufficient to make all scheduled payments under the Mortgage Note as set forth in clause (iii) above; (vi) the defeased note and the defeasance collateral are required to be assumed by a Single-Purpose Entity; (vii) the Mortgagor is required to provide an opinion of counsel that the Trustee has a perfected security interest in such collateral prior to any other claim or interest; and (viii) the Mortgagor is required to pay all rating agency fees associated with defeasance (if rating confirmation is a specific condition precedent thereto) and all other reasonable expenses associated with defeasance, including, but not limited to, accountant’s fees and opinions of counsel.

  • DISCHARGE, SUSPENSION AND DISCIPLINE 14.01 (a) In the event an Employee is suspended as a disciplinary measure and the Employee considers that an injustice has been done, the matter may be taken up at Step 2 of the Grievance Procedure.

  • Satisfaction of Conditions Precedent Each party will use commercially reasonable efforts to satisfy or cause to be satisfied all the conditions precedent that are applicable to them, and to cause the transactions contemplated by this Agreement to be consummated, and, without limiting the generality of the foregoing, to obtain all material consents and authorizations of third parties and to make filings with, and give all notices to, third parties that may be necessary or reasonably required on its part in order to effect the transactions contemplated hereby.

  • Test conditions 6.1.1. The test shall be performed on a flat. dry concrete or asphalt surface affording good adhesion.

  • PERSONAL SATISFACTION AS A CONDITION PRECEDENT The obligations of County as provided in this Agreement are expressly conditioned upon Contractor’s compliance with the provisions of this Agreement to the personal satisfaction of the County. County shall determine compliance in good faith as a reasonable person would under the circumstances.

  • DUTIES OF THE AGENTS IN CONNECTION WITH EARLY REDEMPTION 12.1 If the Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the decision to the Principal Paying Agent and, in the case of redemption of Registered Notes, the Registrar stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Principal Paying Agent and, if applicable, the Registrar to carry out its duties in this Agreement and in the Conditions.

  • Child Support Enforcement Requirements Contractor is required to comply with the child support enforcement requirements of the County. Failure of the Contractor to comply with all federal, state, and local reporting requirements for child support enforcement or to comply with all lawfully served Wage and Earnings Assignment Orders and Notices of Assignment shall constitute a material breach of the Contract. Failure to cure such breach within 60 calendar days of notice from the County shall constitute grounds for termination of the Contract.

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