Common use of Alternate Credit Facilities Clause in Contracts

Alternate Credit Facilities. While the Bonds bear interest at the Variable Rate or at the Fixed Rate, the Issuer may, at its option, provide for the delivery to the Trustee of an Alternate Credit Facility. The Alternate Credit Facility shall have terms in all respects material to the owners of the Bonds the same as the Credit Facility being replaced and shall be in form acceptable to the Trustee and the Tender Agent. On or prior to the date of delivery of an Alternate Credit Facility to the Trustee, the Issuer shall furnish to the Trustee: (1) an opinion of Counsel stating that the delivery of such Alternate Credit Facility to the Trustee is authorized under this Indenture and complies with the terms hereof and that such Alternate Credit Facility is enforceable against the Credit Facility Issuer thereof in accordance with its terms, and (2) if the Bonds are rated by Moodx'x xx S&P, written evidence from Moodx'x, xx the Bonds are rated by Moodx'x, xxd from S&P, if the Bonds are rated by S&P, in each case to the effect that such rating agency has reviewed the proposed Alternate Credit Facility and that the substitution of the proposed Alternate Credit Facility for the then current Credit Facility will not, by itself, result in: (A) a permanent withdrawal of its rating of the Bonds, or (B) a reduction of the then current rating of the Bonds, or if the Bonds are not rated by Moodx'x xx S&P, written evidence (or such other evidence satisfactory to the Trustee in its sole discretion) that the obligations of the bank or institution issuing the proposed Alternate Credit Facility substantially equivalent in term to the remaining term of the Bonds are rated by Moodx'x xx S&P in the same category as the obligations of substantially equivalent term of the bank or institution which issued the Credit Facility being replaced. The Trustee shall then accept such Alternate Credit Facility and surrender the previously held Credit Facility to the previous Credit Facility Issuer for cancellation promptly on or before the fifteenth (15th) day after the Alternate Credit Facility becomes effective, but not later than the fifteenth (15th) day following the last Interest Payment Date or Conversion Date covered by the Credit Facility to be canceled.

Alternate Credit Facilities. While the Bonds bear interest at the Variable Rate or at the Fixed Rate, the Issuer Borrower may, at its option, provide for the delivery to the Trustee of an Alternate Credit Facility. The Alternate Credit Facility shall have terms in all respects material to the owners of the Bonds the same as the Credit Facility being replaced and shall be in form acceptable by providing 25 days' written notice to the Trustee and the Tender Remarketing Agent. On or prior to before the date of delivery of an Alternate Alternative Credit Facility to the TrusteeFacility, the Issuer Borrower shall furnish to the Trustee: Trustee (1i) an opinion of Counsel stating that the delivery of such Alternate Credit Facility to the Trustee is authorized under this Indenture and complies with the terms hereof and that such Alternate Credit Facility is enforceable against the Credit Facility Issuer thereof in accordance with its terms, and (2ii) an opinion of Bond Counsel stating that the delivery of such Alternate Credit Facility will not affect the tax-exempt status of the Bonds, and (iii) if the Bonds are rated by Moodx'x xx Xxxxx'x and/or S&P, written evidence from Moodx'xXxxxx'x, xx if the Bonds are rated by Moodx'xXxxxx'x, xxd and from S&P, if the Bonds are rated by S&P, in each case to the effect that such rating agency has reviewed the proposed Alternate Credit Facility and that the substitution of the proposed Alternate Credit Facility for the then current Credit Facility will not, by itself, result in: in (A) a permanent withdrawal of its rating of the Bonds, or Bonds or (B) a reduction of the then current rating of the Bonds, or if the Bonds are not rated by Moodx'x xx Xxxxx'x and/or S&P, written evidence (or such other evidence satisfactory to the Trustee in its sole discretion) that the obligations commercial paper of the bank or institution issuing the proposed Alternate Credit Facility substantially equivalent in term to the remaining term of the Bonds are is rated P-1 or higher by Moodx'x xx S&P in the same category as the obligations of substantially equivalent term of the bank Xxxxx'x or institution which issued the Credit Facility being replaced. A-1 or higher by S&P. The Trustee shall then accept such Alternate Credit Facility and surrender the previously held Credit Facility to the previous Credit Facility Issuer for cancellation promptly on or before the fifteenth (15th) 15th day after the Alternate Credit Facility becomes effective, but not later than the fifteenth (15th) day following the last Interest Payment Date or Conversion Date covered by the Credit Facility to be canceled.

Alternate Credit Facilities. While the Bonds bear interest at the Variable Rate or at the Fixed Rate, the Issuer Lessee may, at its option, provide for the delivery to the Trustee of an Alternate Credit Facility. The Alternate Credit Facility shall have terms in all respects material to the owners of the Bonds the same as the Credit Facility being replaced and shall be in form acceptable to the Trustee and the Tender Agent. On or prior to the date of delivery of an Alternate Credit Facility to the Trustee, the Issuer Lessee shall furnish to the Trustee: (1) an opinion of Counsel stating that the delivery of such Alternate Credit Facility to the Credit Facility Trustee is authorized under this Indenture and complies with the terms hereof and that such Alternate Credit Facility is enforceable against the Credit Facility Issuer thereof in accordance with its terms, and (2) if the Bonds are rated by Moodx'x xx S&P, written evidence from Moodx'x, xx the Bonds are rated by Moodx'x, xxd from S&P, if the Bonds are rated by S&P, in each case to the effect that such rating agency has reviewed the proposed Alternate Credit Facility and that the substitution of the proposed Alternate Credit Facility for the then current Credit Facility will not, by itself, result in: (A) a permanent withdrawal of its rating of the Bonds, or (B) a reduction of the then current rating of the Bonds, or if the Bonds are not rated by Moodx'x xx S&P, written evidence (or such other evidence satisfactory to the Trustee in its sole discretion) that the obligations of the bank or institution issuing the proposed Alternate Credit Facility substantially equivalent in term to the remaining term of the Bonds are rated by Moodx'x xx S&P in the same category as the obligations of substantially equivalent term of the bank or institution which issued the Credit Facility being replaced; provided, however, if the Lessee provides the Trustee with an opinion of Bond Counsel that a change in the then current rating on the Bonds or a change in the Credit Facility Issuer to a bank or institution the obligations of which are rated in a different category than those obligations of equivalent term of the issuer of the Credit Facility being replaced will not adversely affect the exclusion of the interest on the Bonds from gross income from federal tax purposes, then such evidence need not be provided, but the Lessee shall instead provide the Trustee with written evidence (or such other evidence as shall be satisfactory to the Trustee) that (i) the commercial paper of the bank or institution issuing the proposed Alternate Credit Facility is rated P-3 or higher by Moodx'x xx A-3 or higher by S&P, and (ii) the Issuer has consented to the proposed Alternate Credit Facility. The Trustee shall then accept such Alternate Credit Facility and surrender the previously held Credit Facility to the previous Credit Facility Issuer for cancellation promptly on or before the fifteenth (15th) day after the Alternate Credit Facility becomes effective, but not later than the fifteenth (15th) day following the last Interest Payment Date or Conversion Date covered by the Credit Facility to be canceled.

Alternate Credit Facilities. While the Bonds bear interest at the Variable Rate or at the Fixed Rate, the Issuer Company may, at its option, provide for the delivery to the Trustee of an Alternate Credit Facility. The Alternate Credit Facility shall have terms in all respects material to the owners of the Bonds the same as the Credit Facility being replaced and shall be in form acceptable by providing 35 days' written notice to the Trustee and the Tender Remarketing Agent. On or prior to before the date of delivery of an Alternate Credit Facility to the TrusteeFacility, the Issuer Company shall furnish to the Trustee: Trustee (1i) an opinion of Counsel stating that the delivery of such Alternate Credit Facility to the Trustee is authorized under this Indenture and complies with the terms hereof and that such Alternate Credit Facility is enforceable against the Credit Facility Issuer thereof in accordance with its terms, and (2ii) if the Bonds are not then rated by Xxxxx'x or S&P, an opinion of Counsel stating that payments of principal and interest on the Bonds with the proceeds of a draw under the Alternate Credit Facility in accordance with the terms of the Indenture will bot be recoverable from the Holders of the Bonds pursuant to Section 550 of the Bankruptcy Code as avoidable preferential payments under Section 547 of the Bankruptcy Code upon the occurrence of an Event of Bankruptcy, and (iii) if the Bonds are rated by Moodx'x xx Xxxxx'x and/or S&P, written evidence from Moodx'xXxxxx'x, xx if the Bonds are rated by Moodx'xXxxxx'x, xxd and from S&P, if the Bonds bonds are rated by S&P, in each case to the effect that such rating agency has reviewed the proposed Alternate Credit Facility and that the substitution of the proposed Alternate Credit Facility for the then current Credit Facility will not, by itself, result in: in (A) a permanent withdrawal of its rating of the Bonds, or Bonds or (B) a reduction of the then current rating of the Bonds, or if the Bonds are not rated by Moodx'x xx Xxxxx'x and/or S&P, written evidence (or such other evidence satisfactory to the Trustee in its sole discretion) that the obligations commercial paper of the bank or institution issuing the proposed Alternate Credit Facility substantially equivalent in term to the remaining term of the Bonds are is rated P-1 or higher by Moodx'x xx S&P in the same category as the obligations of substantially equivalent term of the bank Xxxxx'x or institution which issued the Credit Facility being replaced. A-1 or higher by S&P. The Trustee shall then accept such Alternate Credit Facility and surrender the previously held Credit Facility to the previous Credit Facility Issuer for cancellation promptly on or before the fifteenth (15th) 15th day after the Alternate Credit Facility becomes effective. Notwithstanding the foregoing, but not later than the fifteenth (15th) day following Trustee shall have made such drawings, if any, and taken such other actions, if any, thereunder as shall be required under this Indenture in order to provide sufficient money for payment of the last Interest Payment purchase price of Bonds tendered or deemed tendered on the Credit Substitution Date or Conversion Date covered by to the extent necessary pursuant to Section 302(a), and shall have received the proceeds of such drawing from the Credit Facility to be canceledIssuer.

Alternate Credit Facilities. While the Bonds bear interest at the --------------------------- Variable Rate or at the Fixed Rate, the Issuer Company may, at its option, provide for the delivery to the Credit Facility Trustee of an Alternate Credit Facility. The Alternate Credit Facility shall have terms in all respects material to the owners of the Bonds the same as the Credit Facility being replaced and shall be in form acceptable to the Credit Facility Trustee and the Tender Agent. On or prior to the date of delivery of an Alternate Credit Facility to the Credit Facility Trustee, the Issuer Company shall furnish to the Credit Facility Trustee and the Trustee: (1) an opinion of Counsel stating that the delivery of such Alternate Credit Facility to the Credit Facility Trustee is authorized under this Indenture and complies with the terms hereof and that such Alternate Credit Facility is enforceable against the Credit Facility Issuer thereof in accordance with its terms, and (2) if the Bonds are rated by Moodx'x xx Xxxxx'x or S&P, written evidence from Moodx'xXxxxx'x, xx if the Bonds are rated by Moodx'xXxxxx'x, xxd and from S&P, if the Bonds are rated by S&P, in each case to the effect that such rating agency has reviewed the proposed Alternate Credit Facility and that the substitution of the proposed Alternate Credit Facility for the then current Credit Facility will not, by itself, result in: (A) a permanent withdrawal of its rating of the Bonds, or (B) a reduction of the then current rating of the Bonds, or if the Bonds are not rated by Moodx'x xx Xxxxx'x or S&P, written evidence (or such other evidence satisfactory to the Credit Facility Trustee in its sole discretion) that the obligations of the bank or institution issuing the proposed Alternate Credit Facility substantially equivalent in term to the remaining term of the Bonds are rated by Moodx'x xx Xxxxx'x or S&P in the same category as the obligations of substantially equivalent term of the bank or institution which issued the Credit Facility being replaced. The Credit Facility Trustee shall then accept such Alternate Credit Facility and surrender the previously held Credit Facility to the previous Credit Facility Issuer for cancellation promptly on or before the fifteenth (15th) day after the Alternate Credit Facility becomes effective, but not later than the fifteenth (15th) day following the last Interest Payment Date or Conversion Date covered by the Credit Facility to be canceled.