Bank Bonds. Notwithstanding any other provision of this Indenture, including any provision of this Section 2.03 relating to the determination of interest rates on the Bonds, any Bank Bond shall bear interest at the rate, payable at the times and in the manner, specified in the related Reimbursement Agreement.
Bank Bonds. In addition to the foregoing provisions for the redemption of Bonds, any Bank Bond shall be subject to redemption at the time and in the amount and at the price specified in the Reimbursement Agreement related thereto. Without limitation of the foregoing, the Trustee will call for redemption any Bonds secured by a Letter of Credit upon the direction of the Bank that issued such Letter of Credit requesting redemption of such Bonds and certifying that an Event of Default has occurred under the Reimbursement Agreement relating to such Letter of Credit.
Bank Bonds. The Bonds purchased pursuant to Article II hereof will be transferred to or held for the benefit of the Bank, free and clear of all liens, security interests or claims of any Person other than the Bank, except for consensual liens or other security interests as may be created by the Bank.
Bank Bonds. Bonds purchased with proceeds of a drawing on the Letter of Credit pursuant to this Section shall constitute "Bank Bonds." Such Bank Bonds shall be registered in the name of the Bank and held by the Trustee in trust for the account of the Bank or its nominee and shall not be transferred or exchanged by the Trustee unless and until the Trustee has received written confirmation from the Bank to the extent contemplated by the terms of the Letter of Credit that the Letter of Credit has been reinstated with respect to such drawing. Pending reinstatement of the Letter of Credit, the Bank shall be entitled to receive all payments of principal of and interest on Bank Bonds and such Bonds shall not be transferable or deliverable to any party (including the Company) except the Bank or its nominee. No Letter of Credit funds shall be used to make the principal and interest payments on the Bank Bonds. Unless otherwise notified by the Bank in writing, the Remarketing Agent shall continue to use its best efforts to arrange for the sale of any Bank Bonds, subject to full reinstatement of the Letter of Credit with respect to the drawings with which such Bonds were purchased, at a price equal to the principal amount thereof plus accrued interest; provided that any Bank Bond that is remarketed such that it is no longer a Bank Bond shall not be entitled to receive interest at a rate that exceeds the maximum interest rate covered by the Letter of Credit. The Remarketing Agent shall immediately notify the Bank when Bank Bonds have been remarketed in accordance with the Indenture and the Remarketing Agreement. Notwithstanding anything to the contrary in this subsection, if and for so long as the Bonds are to be registered in accordance with Section 2.13 hereof, the registration requirements under this subsection (v) shall be deemed satisfied if Bank Bonds are (1) registered in the name of the Securities Depository or its nominee in accordance with Section 2.13 hereof for the benefit of the Bank or its nominee, (2) credited on the books of the Securities Depository to the account of the Bank (or its nominee) and (3) further credited on the books of the Trustee to the account of the Bank (or its nominee).
Bank Bonds. (a) Any Bonds purchased with proceeds of a Purchase Drawing which is not reimbursed on the date of such drawing shall be Bank Bonds until such Purchase Drawing is reimbursed.
Bank Bonds. Upon the request of the Bank, cause a Rating Agency or Rating Agencies acceptable to the Bank to issue a rating on the Bank Bonds (and their related CUSIP numbers) of at least investment grade which action shall be at the sole expense of the City.
Bank Bonds. (a) The City’s obligations to repay each Liquidity Advance, Default Advance and Term Loan and to pay interest thereon as herein provided shall be evidenced and secured by the Bank Bonds.
Bank Bonds. The term ―Bank Bonds‖ shall mean Bonds purchased by a Credit Facility Provider or its assignee pursuant to a draw on the Credit Facility, if any.
Bank Bonds. Notwithstanding anything to the contrary in this Indenture, the Authority may redeem Bank Bonds, at its option at the times and at the redemption prices specified therefor in the Credit Facility Provider Agreement.
Bank Bonds. As security for the payment of the Obligations the Company will pledge and grant to the Bank a security interest in, its right, title and interest in and to Bonds delivered to the Bank or its designated agent in connection with Liquidity Drawings and Interest Drawings related to Liquidity Drawings under the Letter of Credit pursuant to the Pledge Agreement ("Bank Bonds"). Upon failure to remarket Bonds purchased in accordance with Section 3.08 of the Indenture with funds derived from a Liquidity Drawing and an Interest Drawing related to such Liquidity Drawing under the Letter of Credit, such Bonds shall become Bank Bonds and shall accrue interest at a rate of 0%. Any amounts from time to time owing to the Bank pursuant to clause (ii) of Section 2.2 may be paid (A) at any time by the Company stating the amount to be paid (which shall be an amount not less than $100,000), and (B) at any time on behalf of the Company on one Business Day's notice from the Company directing the Bank (or the custodian of the Bank Bonds under the Custody Agreement) to deliver a specified principal amount of Bank Bonds held by the Bank (or the custodian of the Bank Bonds under the Custody Agreement) to the Remarketing Agent for sale by it pursuant to the Indenture and the Remarketing Agreement. Upon payment to the Bank of the amount to be paid pursuant to clause (A) or (B) above, together with accrued interest, as set forth in clause (iv) of Section 2.2, to the date of such payment on the amount to be paid, the outstanding Obligations of the Company under clause (ii) of Section 2.2 shall be reduced by the amount of such payment, interest shall cease to accrue on the amount paid and the Bank or its desigated agent shall release to the Company, the Trustee, or the Remarketing Agent, as the case may be, for sale, from the pledge and security interest created by the Pledge Agreement a principal amount of Bank Bonds equal to the amount of such payment.
