Bond Financings. The properties listed on Section 3.24 of the Company Disclosure Letter (the “Bond Properties”) are financed with the proceeds of tax-exempt multifamily housing bonds (the “Bonds”). There are no other Bond Properties among the assets of the Company. No material default exists, nor has the Company received notice of any such default that is claimed to exist, on the part of the Company or its Affiliates under any of the documents executed and delivered in connection with the Bonds (the “Bond Documents”), and no event or condition exists which, with the giving of notice or the passage of time, or both, would constitute such a default. All reports submitted by or on behalf of the Company or its Affiliates or agents to any person under the terms of the Bond Documents or to any Governmental Agency certifying as to the status of low and moderate income tenants at the Bond Properties, the calculation and payment of arbitrage rebate, the expenditure of proceeds of the Bonds or the compliance with the terms and conditions of the Bond Documents have been timely submitted and were true and correct as of the time submitted. The Company has no Knowledge of any pending or threatened audit, investigation or inquiry of the IRS, the SEC, the issuer of any Bonds or any other governmental authority concerning the Bonds, the Bond Properties or the compliance with the terms and conditions of the Bond Documents or the federal income tax or securities laws applicable to the Bond Properties.
Bond Financings. The applicable Sellers and the applicable Buyers acknowledge the existence of certain series of tax exempt bonds outstanding with respect to the Motels as disclosed on Schedule 4.5 attached hereto (the "Bonds"). The applicable Sellers acknowledge the desire of the applicable Buyers to maintain such tax exempt financing in place and, in an effort to accomplish this desire, the applicable Sellers and the applicable Buyers agree as follows:
Bond Financings. Meet with appropriate District Officials to discuss plan of finance and establish the timeline. Preparation of maturity and estimated debt service schedules for bond issues in accordance with Local Finance Law. • We will assist the District with the preparation of the Official Statement, based on information provided by the District and/or third parties, including Bond Counsel for certain language relating to legal matters. Mu- nistat will make no representation, warranty or guarantee regarding the accuracy of completeness of the information in the Preliminary Official Statement or Official Statement, and its assistance in preparing these documents should not be construed as a representation that it has independently verified such information. information repositories and post the documents on “Ipreo”, a third party, distribution and electronic bid- ding platform. • If necessary, we submit requested documents and information to the rating agencies and, if we feel the situation warrants, we will make an appointment with a credit analyst in order to present our views regard- ing the District’s rating. • Prior to the bond sale, we submit the required information to the CUSIP Service Bureau. It is generally the function of bond counsel and the underwriter to ensure that the bonds are printed in correct form and on a timely basis. • For issues over $5 million, we ensure the publication of the Notice of Sale for bond issues within the re- quired time limits. • For issues over $5 million, we prepare the Debt Statement for certain bond issues and file it with the State Comptroller’s office. • We handle the bid opening at our office and verify the calculation of the winning bid. • We coordinate the financial details of the closing with the District, bond counsel, the underwriter, and the bond insurance company (if applicable). • We coordinate the preparation of the Final Official Statement with the underwriter, bond counsel and, where applicable, the bond insurance company. • We prepare the final Debt Service Schedule (and, where applicable, the apportionments of such overall Debt Service Schedule into the appropriate funds), and distribute copies of such schedules to the issuer, and bond counsel.
Bond Financings. The Xxxxxxx Entities shall cause the Title Company to remove or insure over any liens (in a manner reasonably satisfactory to Buyer and Buyer's lender) arising out of the bond financings placed on the applicable Facilities, provided, that if such title insurance coverage is not obtained with respect to any such Facilities, such Facilities shall be deemed Escrow Facilities and the condition shall be deemed to have been met with respect to all other Facilities.
Bond Financings. The applicable Sellers and Buyers acknowledge the existence of certain series of tax exempt bonds outstanding with respect to the Motels as disclosed as Schedule 4.5 attached hereto (the "Bonds") and the fact that the debt represented by the Bonds cannot be repaid until September 1, 1998. The applicable Sellers and Buyers agree that in the event the purchase and sale of the applicable Motel closes in accordance with the terms and conditions of this Agreement, cash shall be escrowed with the Escrow Holder at the Closing from the cash portion of the purchase price for such Motel as provided for in Section 2.2 hereof in an amount sufficient to repay the Bonds and obtain a release of any and all liens and encumbrances against the Motels, the Real Property and the Property, if any, related thereto. The Escrow Holder shall be directed to repay the debt represented by the Bonds on September 1, 1998 or earlier, if possible,, in accordance with the documents pursuant to which the Bonds were issued and to obtain the release of any and all liens and encumbrances with regard to the applicable Motels.
