Borrower Bonds Sample Clauses
The Borrower Bonds clause requires the borrower to provide a financial guarantee, typically in the form of a bond, to assure the lender of repayment or performance under the agreement. This clause outlines the type of bond required, such as a surety or performance bond, and specifies the conditions under which the bond must be obtained and maintained throughout the term of the contract. By mandating a bond, the clause protects the lender against the risk of default or non-performance by the borrower, ensuring an additional layer of security for the lender’s interests.
Borrower Bonds. In order to secure its obligations under Sections 4.1, 4.6 and 4.7 of this Agreement, the Borrower shall execute and deliver to the Trustee, as assignee of the Authority, its Borrower Bonds. Each such Borrower Bond will be in substantially the form set forth in the Supplemental Borrower Indenture.
Borrower Bonds. The Borrower shall not repay the Borrower Bonds with other than (a) Cash on Hand or (b) proceeds of other Indebtedness.
Borrower Bonds. Owner acknowledges that any Related Borrower Bonds will be purchased for and registered in the name of Owner, to the extent that Fannie Mae has provided the funds to purchase such Related Borrower Bonds or moneys in the applicable Principal Reserve Fund were used for such purposes and will be pledged to Fannie Mae pursuant to the Related Borrower Bond Pledge Agreement.
Borrower Bonds any Bonds which may from time to time have been purchased with proceeds of a Liquidity Drawing.
Borrower Bonds. 38 SECTION 4.07 No Purchases After Acceleration; Inadequate Funds for Purchases................................... 38 ARTICLE V FUNDS AND LETTER OF CREDIT
Borrower Bonds. The Borrower has pledged, assigned, hypothecated, transferred and granted to the Lender a lien on and security interest in all its right, title and interest to all Borrower Bonds pursuant to the Pledge and Security Agreement.
Borrower Bonds. Anything in this Indenture to the ------------ -------------- contrary notwithstanding, Bonds held by or for the account of the Borrower (other than Pledged Bonds) shall not be deemed Outstanding or entitled to payment, notices or any other rights hereunder.