Effect of Payments by RUS pursuant to the RUS Guarantee. No payment by RUS pursuant to the RUS Guarantee shall (i) be considered a payment for purposes of determining the existence of a failure of the Borrower to perform its obligations to RUS under the Bond Documents, or (ii) relieve the Borrower of its obligations to reimburse RUS for payments made by RUS pursuant to the RUS Guarantee. Payment by the Borrower to RUS of amounts due under the Reimbursement Note shall satisfy pro tonto the corresponding obligations of the Borrower under the Bond.
Appears in 4 contracts
Samples: Series E Bond Guarantee Agreement (National Rural Utilities Cooperative Finance Corp /Dc/), Series D Bond Guarantee Agreement (National Rural Utilities Cooperative Finance Corp /Dc/), Pledge Agreement (National Rural Utilities Cooperative Finance Corp /Dc/)
Effect of Payments by RUS pursuant to the RUS Guarantee. No payment by RUS pursuant to the RUS Guarantee shall (i) be considered a payment for purposes of determining the existence of a failure of the Borrower to perform its obligations to RUS under the Bond Documents, or (ii) relieve the Borrower of its obligations to reimburse RUS for payments made by RUS pursuant to the RUS Guarantee. Payment by the Borrower to RUS of amounts due under the Reimbursement Note shall satisfy pro tonto the corresponding obligations of the Borrower under the Bond. SECTION 10.5.
Appears in 1 contract
Samples: Series B Bond Guarantee Agreement (National Rural Utilities Cooperative Finance Corp /Dc/)
