Alternate Confirming Credit Facility Sample Clauses

Alternate Confirming Credit Facility. The Borrower may at any time substitute an Alternate Confirming Credit Facility for an existing Confirming Letter of Credit, subject to the limitations set forth in this Article VI and any limitations set forth in the Reimbursement Agreement and the Confirming Reimbursement Agreement. An Alternate Confirming Credit Facility shall be an irrevocable confirming or standby letter of credit, bank bond purchase agreement, bond insurance policy, surety bond or other agreement or instrument under which any person or entity (other than the Issuer or the Borrower) undertakes to make or provide funds to make payments of the principal and purchase price of, and interest on, the Bonds, as and when due and, if an irrevocable confirming or standby letter of credit, shall have terms similar in all material respects to the terms of the initial Confirming Letter of Credit; provided that the Alternate Confirming Credit Facility must be effective as of a date on or before the date of expiration of the then existing Confirming Letter of Credit and must provide coverage in an amount at least equal to the sum of (A) the aggregate principal amount of Bonds (other than Pledged Bonds or Borrower Bonds) at the time Outstanding, plus (B) Adequate Interest Coverage for the period to be covered by the Confirming Letter of Credit. As a condition to the issuance of any Alternate Confirming Credit Facility, either the Bonds or the Confirming Bank issuing the Alternate Confirming Credit Facility shall have long-term ratings of at least one of the three highest rating categories of one of the Rating Agencies and all obligations owing to the Confirming Bank pursuant to the then outstanding Confirming Reimbursement Agreement shall be paid in full. The Borrower shall notify the Trustee of its intention to cause an Alternate Confirming Credit Facility to be delivered to the Trustee at least 25 days before the date of such delivery. Such notice shall specify the Confirming Bank that is to deliver such Alternate Confirming Credit Facility and its effective date. Upon receipt of such notice, the Trustee will, at least 20 days prior to the anticipated delivery date, mail a notice of the anticipated delivery of the Alternate Confirming Credit Facility by first class mail to the Issuer, the Remarketing Agent, the L/C Bank, the Confirming Bank and each Bondholder. Such notice shall specify the Confirming Bank that is to deliver the Alternate Confirming Credit Facility and that the Bonds will be subjec...
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Related to Alternate Confirming Credit Facility

  • Commitment Charge; Credit; Maturity Premium (a) The Borrower shall pay a commitment charge on the unwithdrawn amount of the Loan at the rate and on the terms specified in the Loan Agreement.

  • Refinancing Preparation Advance; Capitalizing Front-end Fee and Interest (a) If the Loan Agreement provides for the repayment out of the proceeds of the Loan of an advance made by the Bank or the Association (“Preparation Advance”), the Bank shall, on behalf of such Loan Party, withdraw from the Loan Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Loan Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Bank shall pay the amount so withdrawn to itself or the Association, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

  • Alternate 911 Arrangements If you are not comfortable with the limitations of the 911 Dialing service, you should consider having an alternate means of accessing traditional 911 or E911 services or terminating the Service.

  • Commitment Charge; Credit (a) The Borrower shall pay a commitment charge on the unwithdrawn amount of the Loan at the rate and on the terms specified in the Loan Agreement.

  • Pricing Increase Requests Subsequent to the first twelve (12) months of the Contract term and in accordance with the schedule for price adjustments established by OGS, Contractor may request an increase in the pricing contained in the Centralized Contract by submitting an update request based on change in pricing level as contained in Appendix C, Contract Modification Procedure to the OGS Contract Administrator. With any price increase request, in addition to the requirements contained in Appendix C, the Contractor must certify in writing that the price change for the Services is the same as its pricing in its GSA Supply Schedule, and that Contractor documents the request to the satisfaction of the State.

  • Credit Facilities 22 2.1 Loans....................................................................... 22 2.2 Letters of Credit........................................................... 22 2.3 Commitments................................................................. 25

  • Requesting Price Increase/Required Documentation Contractor must submit a written notification at least thirty (30) calendar days prior to the requested effective date of the change, setting the amount of the increase, along with an itemized list of any increased prices, showing the Contractor’s current price, revised price, the actual dollar difference and the percentage of the price increase by line item. Price change requests must include H-GAC Forms D Offered Item Pricing and E Options Pricing, or the documentation used to submit pricing in the original Response and be supported with substantive documentation (e.g. manufacturer's price increase notices, copies of invoices from suppliers, etc.) clearly showing that Contractor's actual costs have increased per the applicable line item bid. The Producer Price Index (PPI) may be used as partial justification, subject to approval by H-GAC, but no price increase based solely on an increase in the PPI will be allowed. This documentation should be submitted in Excel format to facilitate analysis and updating of the website. The letter and documentation must be sent to the Bids and Specifications manager, Xxxxxxx Xxxxxx, at Xxxxxxx.Xxxxxx@x-xxx.xxx Review/Approval of Requests If H-GAC approves the price increase, Contractor will be notified in writing; no price increase will be effective until Contractor receives this notice. If H-GAC does not approve Contractor’s price increase, Contractor may terminate its performance upon sixty (60) days advance written notice to H-GAC, however Contractor must fulfill any outstanding Purchase Orders. Termination of performance is Contractor’s only remedy if H-GAC does not approve the price increase. H-GAC reserves the right to accept or reject any price change request.

  • Allocation of Tranche Write-down Amounts to the Reference Tranches On each Payment Date on or prior to the Termination Date, the amount, if any, of the Tranche Write- down Amount for that Payment Date will be allocated, first, to reduce any Overcollateralization Amount for such Payment Date, until such Overcollateralization Amount is reduced to zero, and, second, to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Alternative Risk Financing Programs The County reserves the right to review, and then approve, Contractor use of self-insurance, risk retention groups, risk purchasing groups, pooling arrangements and captive insurance to satisfy the Required Insurance provisions. The County and its Agents shall be designated as an Additional Covered Party under any approved program.

  • Bank Financing The Buyer’s ability to purchase the Property is contingent upon the Buyer’s ability to obtain financing under the following conditions: (check one) ☐ - Conventional Loan ☐ - FHA Loan (Attach Required Addendums) ☐ - VA Loan (Attach Required Addendums) ☐ - Other:

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