Agreement to Issue Bonds; Application of Bond Proceeds. In order to provide for the refunding of the outstanding principal amount of the Prior Bonds, the Authority agrees that it will issue and sell its Bonds in the aggregate principal amount of $50,000,000 and will cause them to be delivered to their purchasers. The Bonds shall bear interest and mature as set forth in the Indenture. The Authority will loan the proceeds received from the sale of the Bonds to the Borrower by depositing the proceeds with the Trustee in accordance with Section 3.02 of the Indenture.
Agreement to Issue Bonds; Application of Bond Proceeds. In order to provide funds to lend to the Borrower to finance part of the Cost of the Project as provided in Section 4.1 hereof, the Issuer agrees that it will issue under the Indenture and sell and cause to be delivered to the Initial Purchaser thereof the Bonds in an aggregate principal amount not to exceed $50,000,000, each bearing interest and maturing as set forth in the Indenture. The Issuer will thereupon deposit the proceeds received from the sale of the Bonds as provided in Section 2.02(e) of the Indenture.
Agreement to Issue Bonds; Application of Bond Proceeds. (a) To provide funds to finance Costs of the Project and Costs of Issuance, the Issuer agrees that it will issue under the Indenture, sell and cause to be delivered to the purchasers thereof, the Bonds. The Issuer will thereupon apply the proceeds received from the sale of the Bonds as provided herein and in the Indenture.
(b) The Borrower agrees that it will acquire, construct and install, or complete the acquisition, construction and installation of, the Project, substantially in accordance with the description of the Project prepared by the Borrower and submitted to the Issuer, including any and all supplements, amendments and additions or deletions thereto or therefrom, it being understood that the approval of the Issuer shall not be required for changes in such description which do not substantially alter the purpose and description of the Project as set forth in Exhibit A hereto. The Borrower further agrees to proceed with due diligence to complete the Project within 3 years from the Issuance Date. The Borrower shall not make any changes to the Project or to the operation thereof which would affect the qualification of such Project as a “project” under the Act or impair the exemption from federal income taxation of the interest on the Bonds. In particular, the Borrower agrees to comply with all requirements set forth in the Tax Agreement.
(c) In the event that the Borrower desires to alter or change the Project, and such alteration or change substantially alters the purpose and description of the Project as described in Exhibit A hereto, the Borrower shall be required to deliver to the Issuer:
(i) a certificate of an Authorized Representative of the Borrower describing in detail the proposed changes and stating that they will not have the effect of disqualifying the Project as facilities that may be financed pursuant to the Act or Section 142(a)(6) of the Code;
(ii) a copy of the proposed form of amended or supplemented Exhibit A hereto; and
(iii) an Approving Opinion addressed to the Trustee relating to such proposed changes.
Agreement to Issue Bonds; Application of Bond Proceeds. (a) To provide funds to finance costs of the Project, the Authority agrees that it will issue under the Indenture, sell and cause to be delivered to the purchasers thereof, the Bonds. Project Costs shall be financed through the issuance of the Initial Bonds and Additional Bonds issued and delivered from time to time as set forth in Section 2.13 of the Indenture. The Authority will thereupon apply the proceeds received from the sale of the Initial Bonds and any Additional Bonds as provided herein and in the Indenture. Upon the issuance of and in connection with any Additional Bonds, the Company shall satisfy, or cause the satisfaction of, all requirements of Section 2.13 of the Indenture.
(b) Except as otherwise provided in Sections 5.2 or 5.3, in the event that the Company desires to alter or change the Project, and such alteration or change substantially alters the purpose and description of the Project as described in Exhibit A hereto, the Authority may consent (which consent shall not be unreasonably withheld) to such changes in its discretion and, if it shall so consent, will instruct the Trustee to consent to such amendment or supplement to Exhibit A as shall be required to reflect such alteration or change to the Project upon receipt of:
(i) a certificate of the Authorized Representative of the Company describing in detail the proposed changes;
(ii) a copy of the proposed form of amended or supplemented Exhibit A hereto; and
(iii) an Approving Opinion relating to such proposed changes, and an opinion of Bond Counsel that such changes will not disqualify the Project as facilities that may be financed pursuant to the Act.
Agreement to Issue Bonds; Application of Bond Proceeds. In order to provide funds to lend to the Company to refund a portion of the Prior Bonds as provided in Section 4.1 hereof, the Issuer agrees that it will issue under the Indenture, sell and cause to be delivered to the Underwriter, its Bonds in the aggregate principal amount of $40,000,000, bearing interest and maturing as set forth in the Indenture. The Issuer will thereupon deposit the proceeds received from the sale of the Bonds as follows:
(1) in the Bond Fund, a sum equal to the accrued interest, if any, paid by the Underwriter; and (2) $40,000,000 in the Prior Bonds Redemption Fund to be remitted by the Trustee to the Prior Trustee as provided in Section 6.07 of the Indenture for deposit in the Prior Bond Fund to be used to pay to the owners thereof $40,000,000 of the principal of the Prior Bonds upon redemption thereof.
Agreement to Issue Bonds; Application of Bond Proceeds. To provide funds to enable the Borrower to refinance a portion of the cost of the Project by prepaying the Prior Loan, the City agrees that it will issue under the Indenture, sell and cause to be delivered to the purchasers thereof, the Bonds, bearing interest as provided and maturing on the date set forth in the Indenture. The City will thereupon apply the proceeds received from the sale of the Bonds as provided in Section 3.02 of the Indenture.
Agreement to Issue Bonds; Application of Bond Proceeds. In order to provide funds to finance all or a portion of the Cost of the Project, the Issuer agrees that it will issue under the Indenture, sell and cause to be delivered to the Underwriter, the Bonds, bearing interest and maturing as set forth in the Indenture. The Issuer will cause the accrued interest, if any, received upon the delivery of the Bonds to be deposited in the Bond Fund and the balance of the proceeds (net of underwriting discount, if any) received from the sale of the Bonds to be deposited in the Construction Fund.
Agreement to Issue Bonds; Application of Bond Proceeds. In order to provide funds to lend to the Company to refund the Prior Bonds as provided in Section 4.1 hereof, 4819-0944-7237.6 the Issuer agrees that it will issue under the Indenture its Bonds in the aggregate principal amount of $39,500,000 as set forth in the Indenture and that it will sell the Series 2017 Bonds to the Underwriters and cause them to be delivered to the Underwriters. The Issuer will thereupon apply the proceeds received from the sale of the Bonds as provided in Section 3.02 of the Indenture.
Agreement to Issue Bonds; Application of Bond Proceeds. In order to provide funds to lend to the Company to refund a like principal amount of the Prior Bonds as provided in Section 4.1 hereof, the Issuer agrees that it will issue under the Indenture, sell and cause to be delivered to the Underwriters its Bonds in the aggregate principal amount of $51,000,000, bearing interest and maturing as set forth in the Indenture. The Issuer will thereupon deposit the proceeds received from the sale of the Bonds as follows: (1) in the Bond Fund, a sum equal to the accrued interest, if any, paid by the Underwriters; and (2) the balance of the proceeds from the sale of the Bonds with the Trustee for transfer to the Prior Trustee for deposit in the Prior Bond Funds in the manner provided in the Indenture to be used to pay to the owners thereof the principal of the Prior Bonds upon redemption thereof.
Agreement to Issue Bonds; Application of Bond Proceeds. In order to provide funds for payment of the Cost of the Project, the Issuer, concurrently with the execution of this Head Lease, will issue, sell, and deliver the Bonds and utilize the proceeds thereof to pay Issuance Costs and the Costs of the Project.
