Findings. The Board and the Corporation hereby find and determine that: (a) The Board has heretofore executed and delivered the Lease Agreement pursuant to which it has established a master lease-purchase program. (b) The Board has heretofore leased the Series 2000 Project from the Corporation in accordance with the terms of the Lease Agreement. (c) The Board has heretofore caused the Series 2000 Certificates, the Series 2001C Certificates and the Series 2011A Certificates (as defined in the Trust Agreement) to be executed, authenticated and delivered by the Trustee in connection with the financing of the costs of acquisition and construction and the Board's leasing of the Series 2000 Project. The Series 2000 Certificates are no longer outstanding under the Trust Agreement. (d) The Board and the Corporation deem it in their best interests to restructure the Basic Rent Payments due under the Prior Lease Schedule by issuing Refunding Certificates for the purpose of refunding, on a current basis, the outstanding Series 2001C Certificates maturing on July 1 in the years 20 through 20 , inclusive (the "Refunded Certificates"). (e) In order to accomplish such refunding, the Board and the Corporation hereby agree to cause the issuance of the Series 2011B Certificates (as defined in the Trust Agreement) pursuant to the Trust Agreement and the Series 2011B Supplemental Trust Agreement. (f) The Board and the Corporation further agree to use the proceeds of the Series 2011B Certificates to (i) prepay the Refunded Certificates pursuant to the terms of the Trust Agreement (including, particularly, Articles V and XII thereof) and an Escrow Deposit Agreement, dated as of , 2011 (the "Escrow Deposit Agreement"), between the Board and U.S. Bank National Association, as Escrow Agent, in order to restructure and reduce certain Basic Rent Payments payable under the Lease Agreement as aforesaid and (ii) pay costs associated with the issuance of the Series 2011B Certificates. The portion of the proceeds of the Series 2011B Certificates to be applied to the refunding of the Refunded Certificates shall be deposited into an escrow deposit trust fund established pursuant to the Escrow Deposit Agreement and shall constitute the deposit of prepaid Basic Rent Payments by the Board. The refunding of the Refunded Certificates is in the best interests of the Board and the Corporation because it results in a decrease in Basic Rent Payments associated with the portion of the Series 2000 Project refinanced with the proceeds of the Refunded Certificates. (g) The deposit of the prepaid Basic Rent Payments into the escrow deposit trust fund shall be in an amount sufficient to pay the principal of, redemption premium, if any, and interest on the Refunded Certificates, as the same become due or are redeemed prior to maturity. The Lease Agreement will secure the payment of Supplemental Rent and any deficiency in the prepaid Basic Rent Payments on deposit in the escrow deposit trust fund relating to the Refunded Certificates. (h) In consideration for the deposit of such prepaid Basic Rent Payments with the Escrow Agent, the Board and the Corporation agree to enter into this Third Amended and Restated Lease Schedule, whereby the Board will lease the Series 2000 Project and agree to make Basic Rent Payments sufficient to pay the principal of and interest on that portion of the Series 2011B Certificates allocable to the Series 2000 Project and that portion of the Series 2011A Certificates allocable to the Series 2000 Project.
Appears in 2 contracts
Samples: Lease Schedule, Lease Schedule
Findings. The Board and the Corporation hereby find and determine that:
(a) The Board has heretofore executed and delivered the Lease Agreement pursuant to which it has established a master lease-purchase program.
(b) The Board has heretofore leased the Series 2000 1995A Project from the Corporation in accordance with the terms of the Lease Agreement.
(c) The Board has heretofore caused the Series 2000 Certificates, the Series 2001C 1995 Certificates and the Series 2011A 2001B Certificates (as defined in the Trust Agreement) to be executed, authenticated and delivered by the Trustee in connection with the financing and refinancing of the costs of acquisition and construction and the Board's leasing of the Series 2000 1995 Project. The Series 2000 1995 Certificates are no longer outstanding under the Trust Agreement.
(d) The Board and the Corporation deem it in their best interests to restructure the Basic Rent Payments due under the Prior Lease Schedule by issuing Refunding Certificates for the purpose of refunding, on a current basis, the outstanding Series 2001C 2001B Certificates maturing on July 1 in the years 20 through 20 , inclusive (the "Refunded Certificates").
(e) In order to accomplish such refunding, the Board and the Corporation hereby agree to cause the issuance of the Series 2011B 2011A Certificates (as defined in the Trust Agreement) pursuant to the Trust Agreement and the Series 2011B 2011A Supplemental Trust Agreement.
(f) The Board and the Corporation further agree to use the proceeds of the Series 2011B 2011A Certificates to (i) prepay the Refunded Certificates pursuant to the terms of the Trust Agreement (including, particularly, Articles V and XII thereof) and an Escrow Deposit Agreementescrow deposit agreement, dated as of , 2011 (the "Escrow Deposit Agreement"), between the Board and U.S. Bank National Association, as Escrow Agent, in order to restructure and reduce certain Basic Rent Payments payable under the Lease Agreement as aforesaid and (ii) pay costs associated with the issuance of the Series 2011B 2011A Certificates. The portion of the proceeds of the Series 2011B 2011A Certificates to be applied to the refunding of the Refunded Certificates shall be deposited into an escrow deposit trust fund established pursuant to the Escrow Deposit Agreement and shall constitute the deposit of prepaid Basic Rent Payments by the Board. The refunding of the Refunded Certificates is in the best interests of the Board and the Corporation because it results in a decrease in Basic Rent Payments associated with the portion of the Series 2000 1995 Project refinanced with the proceeds of the Refunded Certificates.
(g) The deposit of the prepaid Basic Rent Payments into the escrow deposit trust fund shall be in an amount sufficient to pay the principal of, redemption premium, if any, and interest on the Refunded Certificates, as the same become due or are redeemed prior to maturity. The Lease Agreement will secure the payment of Supplemental Rent and any deficiency in the prepaid Basic Rent Payments on deposit in the escrow deposit trust fund relating to the Refunded Certificates.
(h) In consideration for the deposit of such prepaid Basic Rent Payments with the Escrow Agent, the Board and the Corporation agree to enter into this Third Second Amended and Restated Lease Schedule, whereby the Board will lease the Series 2000 1995 Project and agree to make Basic Rent Payments sufficient to pay the principal of and interest on that portion of the Series 2011B 2011A Certificates allocable to and the Series 2000 Project and 2001B Certificates maturing on July 1, 20 that portion were not refunded in connection with the issuance of the Series 2011A Certificates allocable to (the "Outstanding Series 2000 Project2001B Certificates").
Appears in 2 contracts
Samples: Lease Schedule, Lease Schedule
Findings. The Board and the Corporation hereby find and determine that:
(a) The Board has heretofore executed and delivered the Lease Agreement pursuant to which it has established a master lease-purchase program.
(b) The Board has heretofore leased the Series 2000 1995A Project from the Corporation in accordance with the terms of the Lease Agreement.
(c) The Board has heretofore caused the Series 2000 1995 Certificates, the Series 2001C 2001B Certificates and the Series 2011A Certificates (as defined in the Trust Agreement) to be executed, authenticated and delivered by the Trustee in connection with the financing and refinancing of the costs of acquisition and construction and the Board's leasing of the Series 2000 1995 Project. The Series 2000 1995 Certificates are no longer outstanding under the Trust Agreement.
(d) The Board and the Corporation deem it in their best interests to restructure the Basic Rent Payments due under the Prior Lease Schedule by issuing Refunding Certificates for the purpose of refunding, on a current basis, the outstanding Series 2001C 2001B Certificates maturing on July 1 in the years 1, 20 through 20 , inclusive (the "Refunded Certificates").
(e) In order to accomplish such refunding, the Board and the Corporation hereby agree to cause the issuance of the Series 2011B Certificates (as defined in the Trust Agreement) pursuant to the Trust Agreement and the Series 2011B Supplemental Trust Agreement.
(f) The Board and the Corporation further agree to use the proceeds of the Series 2011B Certificates to (i) prepay the Refunded Certificates pursuant to the terms of the Trust Agreement (including, particularly, Articles V and XII thereof) and an Escrow Deposit Agreement, dated as of , 2011 (the "Escrow Deposit Agreement"), between the Board and U.S. Bank National Association, as Escrow Agent, in order to restructure and reduce certain Basic Rent Payments payable under the Lease Agreement as aforesaid and (ii) pay costs associated with the issuance of the Series 2011B Certificates. The portion of the proceeds of the Series 2011B Certificates to be applied to the refunding of the Refunded Certificates shall be deposited into an escrow deposit trust fund established pursuant to the Escrow Deposit Agreement and shall constitute the deposit of prepaid Basic Rent Payments by the Board. The refunding of the Refunded Certificates is in the best interests of the Board and the Corporation because it results in a decrease in Basic Rent Payments associated with the portion of the Series 2000 1995 Project refinanced with the proceeds of the Refunded Certificates.
(g) The deposit of the prepaid Basic Rent Payments into the escrow deposit trust fund shall be in an amount sufficient to pay the principal of, redemption premium, if any, and interest on the Refunded Certificates, as the same become due or are redeemed prior to maturity. The Lease Agreement will secure the payment of Supplemental Rent and any deficiency in the prepaid Basic Rent Payments on deposit in the escrow deposit trust fund relating to the Refunded Certificates.
(h) In consideration for the deposit of such prepaid Basic Rent Payments with the Escrow Agent, the Board and the Corporation agree to enter into this Third Amended and Restated Lease Schedule, whereby the Board will lease the Series 2000 1995 Project and agree to make Basic Rent Payments sufficient to pay the principal of and interest on that portion of the Series 2011B Certificates allocable to the Series 2000 1995 Project and that portion of the Series 2011A Certificates allocable to the Series 2000 1995 Project.
Appears in 2 contracts
Samples: Lease Schedule, Lease Schedule
Findings. The Board and the Corporation hereby find and determine that:
(a) The Board has heretofore executed and delivered the Master Lease Agreement pursuant to which it has established a master lease-purchase program.
(b) The Board has heretofore leased the Series 2000 1990A Project from the Corporation in accordance with the terms of the Lease Agreement.
(c) The Board has heretofore caused the Series 2000 1990A Certificates, the Series 2001C 1993 Certificates, the Series 2001A Certificates, the Series 2003A Certificates and the Series 2011A 2011B Certificates (as defined in the Trust Agreement) to be executed, authenticated and delivered by the Trustee in connection with the financing and refinancing of the costs of acquisition and construction and the Board's leasing of the Series 2000 1990A Project. The Series 2000 1990A Certificates and the Series 1993 Certificates are no longer outstanding under the Trust Agreement.
(d) The Board and the Corporation deem it in their best interests to restructure the Basic Rent Payments due under the Prior Lease Schedule by issuing Refunding Certificates for the purpose of refunding, on a current basis, the outstanding Series 2001C 2001A Certificates maturing on July 1 in the years 20 through and 20 , inclusive and the outstanding Series 2003A Certificates maturing on July 1, 20 (collectively, the "Refunded Certificates").
(e) In order to accomplish such refunding, the Board and the Corporation hereby agree to cause the issuance of the Series 2011B Certificates (as defined in the Trust Agreement) pursuant to the Trust Agreement and the Series 2011B Supplemental Trust Agreement.
(f) The Board and the Corporation further agree to use the proceeds of the Series 2011B Certificates to (i) prepay the Refunded Certificates pursuant to the terms of the Trust Agreement (including, particularly, Articles V and XII thereof) and an Escrow Deposit Agreement, dated as of , 2011 (the "Escrow Deposit Agreement"), between the Board and U.S. Bank National Association, as Escrow Agent, in order to restructure and reduce certain Basic Rent Payments payable under the Lease Agreement as aforesaid aforesaid, and (ii) pay costs associated with the issuance of the Series 2011B Certificates. The portion of the proceeds of the Series 2011B Certificates to be applied to the refunding of the Refunded Certificates shall be deposited into an escrow deposit trust fund established pursuant to the Escrow Deposit Agreement and shall constitute the deposit of prepaid Basic Rent Payments by the Board. The refunding of the Refunded Certificates is in the best interests of the Board and the Corporation because it results in a decrease in Basic Rent Payments associated with the portion of the Series 2000 1990A Project financed and refinanced with the proceeds of the Refunded Certificates.
(g) The deposit of the prepaid Basic Rent Payments into the escrow deposit trust fund shall be in an amount sufficient to pay the principal of, redemption premium, if any, and interest on the Refunded Certificates, as the same become due or are redeemed prior to maturity. The Lease Agreement will secure the payment of Supplemental Rent and any deficiency in the prepaid Basic Rent Payments on deposit in the escrow deposit trust fund relating to the Refunded Certificates.
(h) In consideration for the deposit of such prepaid Basic Rent Payments with the Escrow Agent, the Board and the Corporation agree to enter into this Third Fifth Amended and Restated Lease ScheduleSchedule No. 1990A, whereby the Board will lease the Series 2000 1990A Project and agree to make Basic Rent Payments sufficient to pay the principal of and interest on a portion of that portion of the Series 2011B Certificates allocable to the Series 2000 1990A Project and that portion of the Series 2011A Certificates allocable to the Series 2000 1990A Project.
Appears in 2 contracts
Samples: Lease Schedule, Lease Schedule
Findings. The Board and the Corporation hereby find and determine that:
(a) The Board has heretofore executed and delivered the Master Lease Agreement pursuant to which it has established a master lease-purchase program.
(b) The Board has heretofore leased the Series 2000 1990A Project from the Corporation in accordance with the terms of the Lease Agreement.
(c) The Board has heretofore caused the Series 2000 1990A Certificates, the Series 2001C 1993 Certificates, the Series 2001A Certificates and the Series 2011A 2003A Certificates (as defined in the Trust Agreement) to be executed, authenticated and delivered by the Trustee in connection with the financing and refinancing of the costs of acquisition and construction and the Board's leasing of the Series 2000 1990A Project. The Series 2000 1990A Certificates and the Series 1993 Certificates are no longer outstanding under the Trust Agreement.
(d) The Board and the Corporation deem it in their best interests to restructure the Basic Rent Payments due under the Prior Lease Schedule by issuing Refunding Certificates for the purpose of refunding, on a current basis, the outstanding Series 2001C 2001A Certificates maturing on July 1 in the years 20 through 20 , inclusive, and the outstanding Series 2003A Certificates maturing on July 1 in the years 20 through 20__, inclusive (collectively, the "Refunded Certificates").
(e) In order to accomplish such refunding, the Board and the Corporation hereby agree to cause the issuance of the Series 2011B 2011A Certificates (as defined in the Trust Agreement) pursuant to the Trust Agreement and the Series 2011B 2011A Supplemental Trust Agreement.
(f) The Board and the Corporation further agree to use the proceeds of the Series 2011B 2011A Certificates to (i) prepay the Refunded Certificates pursuant to the terms of the Trust Agreement (including, particularly, Articles V and XII thereof) and an Escrow Deposit Agreement, dated as of , 2011 (the "Escrow Deposit Agreement"), between the Board and U.S. Bank National Association, as Escrow Agent, in order to restructure and reduce certain Basic Rent Payments payable under the Lease Agreement as aforesaid aforesaid, and (ii) pay costs associated with the issuance of the Series 2011B 2011A Certificates. The portion of the proceeds of the Series 2011B 2011A Certificates to be applied to the refunding of the Refunded Certificates shall be deposited into an escrow deposit trust fund established pursuant to the Escrow Deposit Agreement and shall constitute the deposit of prepaid Basic Rent Payments by the Board. The refunding of the Refunded Certificates is in the best interests of the Board and the Corporation because it results in a decrease in Basic Rent Payments associated with the portion of the Series 2000 1990A Project financed and refinanced with the proceeds of the Refunded Certificates.
(g) The deposit of the prepaid Basic Rent Payments into the escrow deposit trust fund shall be in an amount sufficient to pay the principal of, redemption premium, if any, and interest on the Refunded Certificates, as the same become due or are redeemed prior to maturity. The Lease Agreement will secure the payment of Supplemental Rent and any deficiency in the prepaid Basic Rent Payments on deposit in the escrow deposit trust fund relating to the Refunded Certificates.
(h) In consideration for the deposit of such prepaid Basic Rent Payments with the Escrow Agent, the Board and the Corporation agree to enter into this Third Fourth Amended and Restated Lease ScheduleSchedule No. 1990A, whereby the Board will lease the Series 2000 1990A Project and agree to make Basic Rent Payments sufficient to pay the principal of and interest on that portion of the Series 2011B 2011A Certificates allocable to and the Series 2000 Project 2001A Certificates maturing on July 1, 20 (the "Outstanding Series 2001A Certificates") and Series 2003A Certificates maturing on July 1, 20 that portion are not refunded in connection with the issuance of the Series 2011A Certificates allocable to (the "Outstanding Series 2000 Project2003A Certificates").
Appears in 2 contracts
Samples: Lease Schedule, Lease Schedule
Findings. The Board and the Corporation hereby find and determine that:
(a) The Board has heretofore executed and delivered the Lease Agreement pursuant to which it has established a master lease-purchase program.
(b) The Board has heretofore leased the Series 2000 Project from the Corporation in accordance with the terms of the Lease Agreement.
(c) The Board has heretofore caused the Series 2000 Certificates, the Series 2001C Certificates and the Series 2011A 2001C Certificates (as defined in the Trust Agreement) to be executed, authenticated and delivered by the Trustee in connection with the financing of the costs of acquisition and construction and the Board's leasing of the Series 2000 Project. The Series 2000 Certificates are no longer outstanding under the Trust Agreement.
(d) The Board and the Corporation deem it in their best interests to restructure the Basic Rent Payments due under the Prior Lease Schedule by issuing Refunding Certificates for the purpose of refunding, on a current basis, the outstanding Series 2001C Certificates maturing on July 1 in the years 20 through 20 , inclusive (the "Refunded Certificates").
(e) In order to accomplish such refunding, the Board and the Corporation hereby agree to cause the issuance of the Series 2011B 2011A Certificates (as defined in the Trust Agreement) pursuant to the Trust Agreement and the Series 2011B 2011A Supplemental Trust Agreement.
(f) The Board and the Corporation further agree to use the proceeds of the Series 2011B 2011A Certificates to (i) prepay the Refunded Certificates pursuant to the terms of the Trust Agreement (including, particularly, Articles V and XII thereof) and an Escrow Deposit Agreementescrow deposit agreement, dated as of , 2011 (the "Escrow Deposit Agreement"), between the Board and U.S. Bank National Association, as Escrow Agent, in order to restructure and reduce certain Basic Rent Payments payable under the Lease Agreement as aforesaid and (ii) pay costs associated with the issuance of the Series 2011B 2011A Certificates. The portion of the proceeds of the Series 2011B 2011A Certificates to be applied to the refunding of the Refunded Certificates shall be deposited into an escrow deposit trust fund established pursuant to the Escrow Deposit Agreement and shall constitute the deposit of prepaid Basic Rent Payments by the Board. The refunding of the Refunded Certificates is in the best interests of the Board and the Corporation because it results in a decrease in Basic Rent Payments associated with the portion of the Series 2000 Project refinanced with the proceeds of the Refunded Certificates.
(g) The deposit of the prepaid Basic Rent Payments into the escrow deposit trust fund shall be in an amount sufficient to pay the principal of, redemption premium, if any, and interest on the Refunded Certificates, as the same become due or are redeemed prior to maturity. The Lease Agreement will secure the payment of Supplemental Rent and any deficiency in the prepaid Basic Rent Payments on deposit in the escrow deposit trust fund relating to the Refunded Certificates.
(h) In consideration for the deposit of such prepaid Basic Rent Payments with the Escrow Agent, the Board and the Corporation agree to enter into this Third Second Amended and Restated Lease Schedule, whereby the Board will lease the Series 2000 Project and agree to make Basic Rent Payments sufficient to pay the principal of and interest on that portion of the Series 2011B 2011A Certificates allocable to the Series 2000 Project and that portion of the Series 2011A 2001C Certificates allocable to maturing on July 1, 20 that were not refunded in connection with the issuance of the Series 2000 Project2001B Certificates (the "Outstanding Series 2001C Certificates").
Appears in 2 contracts
Samples: Lease Schedule, Lease Schedule
Findings. The Board and the Corporation hereby find and determine that:
(a) The Board has heretofore executed and delivered the Lease Agreement pursuant to which it has established a master lease-purchase program.
(b) The Board has heretofore leased the Series 2000 2010B Project from the Corporation in accordance with the terms of the Lease Agreement.
(c) The Board has heretofore caused the Series 2000 Certificates, the Series 2001C Certificates and the Series 2011A 2010B Certificates (as defined in the Series 2016A Supplemental Trust Agreement) to be executed, authenticated and delivered by the Trustee in connection with the financing of the costs of acquisition and acquisition, construction and the Board's leasing equipping and lease-purchase of the Series 2000 2010B Project. The Series 2000 Certificates are no longer outstanding under the Trust Agreement.
(d) The Board and the Corporation deem it in their best interests to restructure the Basic Rent Payments due under the Prior Lease Schedule by issuing Refunding a Series of Certificates for the purpose of of, among other things, refunding, on a current an advanced basis, the outstanding Series 2001C 2010B Certificates maturing on July 1 in the years 20 2021 through 20 2025, inclusive inclusive, as described in the hereinafter defined Escrow Deposit Agreement (the "Refunded Certificates").
(e) In order to accomplish such refunding, the Board and the Corporation hereby agree to cause the issuance of the Series 2011B 2016A Certificates (as defined in the Trust Agreementherein) pursuant to the Master Trust Agreement and the Series 2011B 2016A Supplemental Trust Agreement.
(f) The Board and the Corporation further agree to use a portion of the proceeds of the Series 2011B 2016A Certificates to (i) prepay refund the Refunded Certificates pursuant to the terms of the Master Trust Agreement (including, particularly, Articles V and XII thereof) and an Escrow Deposit Agreement, dated as of , 2011 (the "Escrow Deposit Agreement"), between the Board and U.S. Bank National Association, as Escrow Agent, in order to restructure and reduce certain Basic Rent Payments payable under the Lease Agreement as aforesaid and (ii) pay costs associated with the issuance of the Series 2011B Certificates. The portion of the proceeds of the Series 2011B Certificates to be applied to the refunding of the Refunded Certificates shall be deposited into an escrow deposit trust fund established pursuant to the Escrow Deposit Agreement and shall constitute the deposit of prepaid Basic Rent Payments by the Board. The refunding of the Refunded Certificates is in the best interests of the Board and the Corporation because it results in a decrease in Basic Rent Payments associated with the portion of the Series 2000 Project refinanced with the proceeds of the Refunded Certificates.April
(g) The deposit of the prepaid Basic Rent Payments into the escrow deposit trust fund shall be in an amount sufficient to pay the principal of, redemption prepayment premium, if any, and interest on the Refunded Certificates, as the same become due or are redeemed prepaid prior to maturity. The Lease Agreement will secure the payment of Supplemental Rent and any deficiency in the prepaid Basic Rent Payments on deposit in the escrow deposit trust fund relating to the Refunded Certificates.
(h) In consideration for the deposit of such prepaid Basic Rent Payments with the Escrow Agent, the Board and the Corporation agree to enter into this Third Amended and Restated Lease Schedule, whereby the Board will continue to lease the Series 2000 2010B Project and agree to make Basic Rent Payments sufficient to pay the principal of and interest on that portion components of the Basic Rent Payments represented by the Series 2011B 2016A Certificates allocable to the Series 2000 2010B Project and the Series 2010B Certificates maturing on July 1 in the years 2016 through 2020, inclusive (the "Outstanding Series 2010B Certificates") that portion are not refunded in connection with the issuance of the Series 2011A Certificates allocable to the Series 2000 Project2016A Certificates.
Appears in 1 contract
Samples: Lease Schedule
Findings. The Board and the Corporation hereby find and determine that:
(a) The Board has heretofore executed and delivered the Master Lease Agreement pursuant to which it has established a master lease-purchase program.
(b) The Board has heretofore leased the Series 2000 2004A Project from the Corporation in accordance with the terms of the Lease Agreement.
(c) The Board has heretofore caused the Series 2000 Certificates, the Series 2001C Certificates and the Series 2011A 2004A Certificates (as defined in the Trust Agreement) to be executed, authenticated and delivered by the Trustee in connection with the financing of the costs of acquisition and construction and the Board's leasing of the Series 2000 2004A Project. The Series 2000 Certificates are no longer outstanding under the Trust Agreement.
(d) The Board and the Corporation deem it in their best interests to restructure the Basic Rent Payments due under the Prior Lease Schedule by issuing Refunding Certificates for the purpose of refunding, on a current an advanced basis, the outstanding Series 2001C 2004A Certificates maturing on July 1 in the years 20 [2015 through 20 2018, inclusive inclusive, and 2023 through 2030, inclusive] (collectively, the "Refunded Certificates").
(e) In order to accomplish such refunding, the Board and the Corporation hereby agree to cause the issuance of the Series 2011B 2013A Certificates (as defined in the Trust Agreement) pursuant to the Trust Agreement and the Series 2011B 2013A Supplemental Trust Agreement.
(f) The Board and the Corporation further agree to use the proceeds of the Series 2011B 2013A Certificates to (i) prepay the Refunded Certificates pursuant to the terms of the Trust Agreement (including, particularly, Articles V and XII thereof) and an Escrow Deposit Agreement, dated as of , 2011 2013 (the "Escrow Deposit Agreement"), between the Board and U.S. Bank National Association, as Escrow Agent, in order to restructure and reduce certain Basic Rent Payments payable under the Lease Agreement as aforesaid aforesaid, and (ii) pay costs associated with the issuance of the Series 2011B 2013A Certificates. The portion of the proceeds of the Series 2011B 2013A Certificates to be applied to the refunding of the Refunded Certificates shall be deposited into an escrow deposit trust fund established pursuant to the Escrow Deposit Agreement and shall constitute the deposit of prepaid Basic Rent Payments by the Board. The refunding of the Refunded Certificates is in the best interests of the Board and the Corporation because it results in a decrease in Basic Rent Payments associated with the portion of the Series 2000 2004A Project refinanced financed with the proceeds of the Refunded Certificates.
(g) The deposit of the prepaid Basic Rent Payments into the escrow deposit trust fund shall be in an amount sufficient to pay the principal of, redemption premium, if any, and interest on the Refunded Certificates, as the same become due or are redeemed prior to maturity. The Lease Agreement will secure the payment of Supplemental Rent and any deficiency in the prepaid Basic Rent Payments on deposit in the escrow deposit trust fund relating to the Refunded Certificates.
(h) In consideration for the deposit of such prepaid Basic Rent Payments with the Escrow Agent, the Board and the Corporation agree to enter into this Third Amended and Restated Lease ScheduleSchedule No. 2004A, whereby the Board will continue to lease the Series 2000 2004A Project and agree to make Basic Rent Payments sufficient to pay the principal of and interest on the Series 2013A Certificates and the Series 2004A Certificates maturing on July 1 in the years 2013 and 2014 (the "Outstanding Series 2004A Certificates") that portion are not refunded in connection with the issuance of the Series 2011B Certificates allocable to the Series 2000 Project and that portion of the Series 2011A Certificates allocable to the Series 2000 Project2013A Certificates.
Appears in 1 contract
Samples: Lease Schedule
Findings. The Board and the Corporation hereby find and determine that:
(a) The Board has heretofore executed and delivered the Lease Agreement pursuant to which it has established a master lease-purchase program.
(b) The Board has heretofore leased the Series 2000 2009 Project from the Corporation in accordance with the terms of the Lease Agreement.
(c) The Board has heretofore caused the Series 2000 Certificates, the Series 2001C Certificates and the Series 2011A 2009 Certificates (as defined in the Series 2016A Supplemental Trust Agreement) to be executed, authenticated and delivered by the Trustee in connection with the financing of the costs of acquisition and acquisition, construction and the Board's leasing equipping and lease-purchase of the Series 2000 2009 Project. The Series 2000 Certificates are no longer outstanding under the Trust Agreement.
(d) The Board and the Corporation deem it in their best interests to restructure the Basic Rent Payments due under the Prior Lease Schedule by issuing Refunding a Series of Certificates for the purpose of of, among other things, refunding, on a current an advanced basis, the outstanding Series 2001C 2009 Certificates maturing on July 1 in the years 20 2020 through 20 2024, inclusive inclusive, as described in the hereinafter defined Escrow Deposit Agreement (the "Refunded Certificates").
(e) In order to accomplish such refunding, the Board and the Corporation hereby agree to cause the issuance of the Series 2011B 2016A Certificates (as defined in the Trust Agreementherein) pursuant to the Master Trust Agreement and the Series 2011B 2016A Supplemental Trust Agreement.
(f) The Board and the Corporation further agree to use a portion of the proceeds of the Series 2011B 2016A Certificates to (i) prepay refund the Refunded Certificates pursuant to the terms of the Master Trust Agreement (including, particularly, Articles V and XII thereof) and an Escrow Deposit Agreement, dated as of , 2011 (the "Escrow Deposit Agreement"), between the Board and U.S. Bank National Association, as Escrow Agent, in order to restructure and reduce certain Basic Rent Payments payable under the Lease Agreement as aforesaid and (ii) pay costs associated with the issuance of the Series 2011B Certificates. The portion of the proceeds of the Series 2011B Certificates to be applied to the refunding of the Refunded Certificates shall be deposited into an escrow deposit trust fund established pursuant to the Escrow Deposit Agreement and shall constitute the deposit of prepaid Basic Rent Payments by the Board. The refunding of the Refunded Certificates is in the best interests of the Board and the Corporation because it results in a decrease in Basic Rent Payments associated with the portion of the Series 2000 Project refinanced with the proceeds of the Refunded Certificates.April
(g) The deposit of the prepaid Basic Rent Payments into the escrow deposit trust fund shall be in an amount sufficient to pay the principal of, redemption prepayment premium, if any, and interest on the Refunded Certificates, as the same become due or are redeemed prepaid prior to maturity. The Lease Agreement will secure the payment of Supplemental Rent and any deficiency in the prepaid Basic Rent Payments on deposit in the escrow deposit trust fund relating to the Refunded Certificates.
(h) In consideration for the deposit of such prepaid Basic Rent Payments with the Escrow Agent, the Board and the Corporation agree to enter into this Third Amended and Restated Lease Schedule, whereby the Board will continue to lease the Series 2000 2009 Project and agree to make Basic Rent Payments sufficient to pay the principal of and interest on that portion components of the Basic Rent Payments represented by the Series 2011B 2016A Certificates allocable to the Series 2000 2009 Project and the Series 2009 Certificates maturing on July 1 in the years 2016 through 2019, inclusive (the "Outstanding Series 2009 Certificates") that portion are not refunded in connection with the issuance of the Series 2011A Certificates allocable to the Series 2000 Project2016A Certificates.
Appears in 1 contract
Samples: Lease Schedule