Delivery of Bond. In order to evidence and secure the Obligations of the Company and to provide the Lenders the benefit of the lien of the Indenture with respect to the Bond, the Company hereby delivers to the Agent the Bond in the aggregate principal amount of $350,000,000, maturing on June 30, 2011 and bearing interest as provided in the IP Supplemental Indenture. The obligation of the Company to make payments with respect to principal under the Credit Agreement shall not give rise to an obligation to pay principal of the Bond except on the Commitment Termination Date of the Company or upon redemption of the Bond. If at any time any permanent reduction of the Borrower Sublimit of the Company or the Borrower Credit Exposure of the Company shall result in the principal of the Bond being greater than the greater of the Borrower Sublimit and the Borrower Credit Exposure, a payment obligation with respect to the principal of the Bond in the amount of such excess shall be deemed discharged upon the effectiveness of such permanent reduction. No payment of principal under the Credit Agreement shall reduce the principal amount of the Bond to an amount less than the greater of the Borrower Sublimit and the Borrower Credit Exposure, all as set forth in the Bond and in the IP Supplemental Indenture. The Bond is registered in the name of the Agent and shall be owned and held by the Agent, for the benefit of the Lenders and the other secured parties in respect of the Obligations, subject to the provisions of this Agreement and the IP Indenture, and the Company shall have no interest therein. The Agent shall be entitled to exercise all rights of a bondholder under the IP Indenture with respect to the Bond. The Agent hereby acknowledges receipt of the Bond.
Delivery of Bond. The Bond shall not be delivered until there shall have been delivered to and by the City, as the case may be, a certified copy of the ordinance authorizing the Bond and originally executed counterparts of this Agreement.
Delivery of Bond. The Bonds executed by the Corporation and authenticated by the Registrar shall be delivered by the Registrar to the purchaser thereof in the amount, at the times and upon the payment of the purchase price, as requested in writing by the president or treasurer of the Corporation. The proceeds received from the sale of the 2023 Bonds, less any underwriter’s discount, shall be applied as follows: $ , consisting of capitalized interest through and including _ , 20 , shall be deposited to the Bond Interest Account of the Project Fund described in Section 3.01. The remainder, less any underwriter’s discount, in the amount of $ shall be deposited in the 2023 Construction Account of the Project Fund described in Section 3.01. $ of such amount shall be used to pay costs of issuance of the 2023 Bonds, and the remaining $ shall be used to pay for the costs of the Project as described in Section 3.01.
Delivery of Bond. In order to provide the Bond as evidence of (and through the Bond the benefit of the Lien of the Mortgage for) the Obligations and the Other Obligations, the Company hereby delivers to the Agent the Bond in the aggregate principal amount of $1,008,000,000, maturing on February 20, 2009 and bearing interest as provided in the Supplemental Indenture. The obligation of the Company to pay the principal of, and interest on, the Bond shall be deemed to have been satisfied and discharged in full or in part, as the case may be, to the extent of payment by the Company of the Obligations and the Other Obligations, all as set forth in the Bond and in Section 2.04 of the Supplemental Indenture. The Bond is registered in the name of the Agent and shall be owned and held by the Agent, subject to the provisions of this Agreement, for the benefit of the Lenders, and the Company shall have no interest therein. The Agent shall be entitled to exercise all rights of bondholders under the Mortgage with respect to the Bond. The Agent hereby acknowledges receipt of the Bond.
