Common use of Conditions for the Issuance of Additional Bonds Clause in Contracts

Conditions for the Issuance of Additional Bonds. The Authority may at any time issue Additional Bonds pursuant to a Supplemental Trust Agreement, payable from the Revenues as provided herein and secured by a pledge of and charge and lien upon the Revenues as provided herein equal to the pledge, charge and lien securing the Outstanding Bonds theretofore issued hereunder, but only subject to the following specific conditions, which are hereby made conditions precedent to the issuance of any such Additional Bonds: (a) The Authority shall be in compliance with all agreements and covenants contained herein. (b) The Supplemental Trust Agreement shall require that the proceeds of the sale of such Additional Bonds shall be applied to the acquisition (by purchase or lease) or construction of facilities to be added to the Facilities or for the refunding of Outstanding Bonds. (c) The aggregate principal amount of Bonds issued and at any time Outstanding hereunder shall not exceed any limit imposed by law, by this Trust Agreement or by any Supplemental Trust Agreement. (d) The Facilities Lease shall have been amended, if necessary, and duly recorded in the official records of the County Recorder of the County, so that the Base Rental Payments payable by the County thereunder in each Fiscal Year shall at least equal Debt Service, including Debt Service on the Additional Bonds, in each Fiscal Year. (e) The Facilities Lease shall have been amended and duly recorded in the official records of the County Recorder of the County, so as to lease to the County the project being financed from the proceeds of such Additional Bonds or facilities of comparable worth and economic life. (f) If the proceeds of such Additional Bonds are to be used, in whole or in part, to finance construction on real property not described in the Facilities Lease and which are to be the leased Facilities hereunder or the additional Facilities to be leased are not situated on property described in the Facilities Lease, (1) the Site Lease shall have been amended so as to lease to the Authority such additional real property; and (2) the Facilities Lease shall have been amended so as to lease to the County such additional real property. (g) If the additional Facilities to be leased are to be constructed, the Trustee shall be paid an amount of capitalized interest on the Additional Bonds for the estimated period of construction and six months thereafter. (h) If a Supplemental Trust Agreement shall provide for a Reserve Fund, then, if necessary, that from such proceeds or other sources an amount shall be deposited in the Reserve Fund so that following such deposit there shall be on deposit in the Reserve Fund an amount at least equal to the Reserve Fund Requirement.

Conditions for the Issuance of Additional Bonds. The Following the issuance of the 2014 Bonds, the Authority may at any time issue Additional Bonds pursuant to a Supplemental Trust AgreementIndenture, payable from the Revenues as provided herein and secured by a pledge of and charge and lien upon the Revenues as provided herein equal to the pledge, charge and lien securing the Outstanding Bonds theretofore issued hereunder, but only subject to the following specific conditions, which are hereby made conditions precedent to the issuance of any such Additional Bonds: (a) The Authority shall be in compliance with all agreements and covenants contained herein. (b) The Supplemental Trust Agreement Indenture shall require that the proceeds of the sale of such Additional Bonds shall be applied to the acquisition (by purchase or lease) or construction of facilities to be added to the Facilities or for the refunding of Outstanding Bonds. (c) The aggregate principal amount of Bonds issued and at any time Outstanding hereunder shall not exceed any limit imposed by law, by this Trust Agreement Indenture or by any Supplemental Trust AgreementIndenture. (d) The Facilities Facility Lease or Facility Leases shall have been amended, if necessary, and duly recorded in the official records of the County Recorder of the County, so that the Base Rental Payments payable by the County thereunder in each Fiscal Year shall at least equal Debt Service, including Debt Service on the Additional Bonds, in each Fiscal Year. (e) The Facilities Facility Lease shall have been amended and duly recorded in the official records of the County Recorder of the County, so as to lease to the County the project being financed from the proceeds of such Additional Bonds or facilities of comparable worth and economic life. (f) If the proceeds of such Additional Bonds are to be used, in whole or in part, to finance construction on real property not described in the Facilities Facility Lease and which are to be the leased Facilities hereunder or the additional Facilities to be leased are not situated on property described in the Facilities Facility Lease, (1) the Site Lease shall have been amended so as to lease to the Authority such additional real property; and (2) the Facilities Lease shall have been amended so as to lease to the County such additional real property. (g) If the additional Facilities to be leased are to be constructed, the Trustee shall be paid an amount of capitalized interest on the Additional Bonds for the estimated period of construction and six months thereafter. (h) If a Supplemental Trust Agreement shall provide for a Reserve Fund, then, if necessary, that from such proceeds or other sources an amount shall be deposited in the Reserve Fund so that following such deposit there shall be on deposit in the Reserve Fund an amount at least equal to the Reserve Fund Requirement.and

Conditions for the Issuance of Additional Bonds. The Authority may at any time issue Additional Bonds pursuant to a Supplemental Trust AgreementIndenture, payable from the Revenues as provided herein and secured by a pledge of and charge and lien upon the Revenues as provided herein equal to the pledge, charge and lien securing the Outstanding Bonds theretofore issued hereunder, but only and subject to the following specific conditions, which are hereby made conditions precedent to the issuance of any such Additional Bonds: (a) The Authority No Event of Default shall be in compliance with all agreements continuing after giving effect to the issuance of the Additional Bonds and covenants contained hereinthe application of the proceeds thereof. (b) The Supplemental Trust Agreement Indenture shall require that the proceeds of the sale of such Additional Bonds shall be applied only to the acquisition (by purchase refunding or lease) or construction repayment of facilities to be added any Outstanding Bonds, including the payment of costs and expenses of and incident to the Facilities or for the refunding authorization and sale of Outstanding such Additional Bonds. (c) The aggregate principal amount of Bonds issued and at any time Outstanding hereunder shall not exceed any limit imposed by law, by this Trust Agreement Indenture or by any Supplemental Trust AgreementIndenture. (d) The Facilities Lease shall have been amended, if necessary, and duly recorded in the official records of the County Recorder of the County, so that the Base Rental Payments payable by the County City thereunder in each Fiscal Year shall at least equal scheduled Debt Service, including Debt Service on the Additional Bonds, in each Fiscal Year. (e) The Facilities Lease shall have been amended and duly recorded in the official records of the County Recorder of the County, so as to lease to the County the project being financed from the proceeds of such Additional Bonds or facilities of comparable worth and economic life. (f) If the proceeds of such Additional Bonds are to be usedadditional facilities, in whole or in partif any, to finance construction on real property not described in the Facilities Lease and which are to be the leased Facilities hereunder or the additional Facilities to be leased are not situated on property Leased Property described in the Facilities Lease and the Site Lease, (1) then the Lease and Site Lease shall have been amended so as to lease add such additional Leased Property. Nothing herein shall prevent payment of Debt Service on any Series of Additional Bonds from being secured and payable from sources, or by property, instruments or documents, not applicable to the Authority such additional real property; and (2) the Facilities Lease shall have been amended so as to lease to the County such additional real propertyBonds or any one or more Series of Additional Bonds. (g) If the additional Facilities to be leased are to be constructed, the Trustee shall be paid an amount of capitalized interest on the Additional Bonds for the estimated period of construction and six months thereafter. (h) If a Supplemental Trust Agreement shall provide for a Reserve Fund, then, if necessary, that from such proceeds or other sources an amount shall be deposited in the Reserve Fund so that following such deposit there shall be on deposit in the Reserve Fund an amount at least equal to the Reserve Fund Requirement.