Issuance of Additional Bonds. To the extent the Issuer issues additional bonds ("Additional Bonds") that rank on a parity basis to the Bonds and are subject to a pledge of TIF Revenues, the pledge of TIF Revenues and the use of Taxpayer Direct Payments to the payment of the Bonds and any such additional parity bonds shall be applied on a pro-rata basis, based on the principal amount of the Bonds outstanding supported by the TIF Revenues and Taxpayer Payments and such additional parity bonds outstanding. While the Series 2024 Bonds are owned by the Purchaser, no additional bonds ranking on a parity with the Series 2024 Bonds as to the pledge of TIF Revenues may be issued without the prior written consent of the Purchaser. Prior to the delivery by the Issuer of any such Additional Bonds there shall be filed with the Trustee:
(i) A supplement to this Indenture executed by the Issuer and the Trustee authorizing the issuance of such Additional Bonds, specifying the terms thereof and providing for the disposition of the proceeds of the sale thereof.
(ii) The supplement or amendment to the Financing Agreement and the other instruments, documents, certificates, and opinions referred to in Article IX of this Indenture.
(iii) A copy, duly certified by the Director of Finance and Records of the Issuer, of the Bond Ordinance theretofore adopted and approved by the Issuer authorizing the execution and delivery of such supplemental indenture and such supplement to the Financing Agreement and the issuance of such Additional Bonds.
(iv) A written request of the Issuer to the Trustee to authenticate and deliver such Additional Bonds.
(v) In the case of Additional Bonds, a certificate showing the requirements for such Additional Bonds contained in the resolution pledging TIF Revenues shall have been met.
(vi) Written consent of the Purchaser of the Series 2024 Bonds. Any Additional Bonds issued in accordance with the terms of this Section 2.8. shall be secured by this Indenture, but such Additional Bonds may bear such date or dates, such interest rate or rates, and with such maturities, redemption dates and premiums as may be agreed upon by the Issuer, at the direction of the Company, and the purchaser of such Additional Bonds.
Issuance of Additional Bonds. Additional bonds may be sold and issued by the Authority at any time and from time to time (subject to any agreements relating to any prior series of Bonds) in the event, for any reason, the proceeds derived from the sale of the Bonds previously issued shall be insufficient for the purpose of completing the Project. The Authority may also issue Bonds from time to time to refund either on a current or advance basis any Bonds previously issued by the Authority pursuant to Section 602. Additional Bonds may be sold and issued by the Authority (subject to any agreements relating to any prior series of Bonds) at any time and from time to time in the event funds are required to pay the costs of: (i) any major renewals, replacements, repairs, additions, betterment, or improvements, to the Project necessary or convenient in the judgment of the Authority to keep the Project in good operating condition or to prevent a loss of revenues therefrom; and (ii) any major additions, improvements, repairs, or modifications to the Project required by any state or federal agency having jurisdiction over the Project or any facility thereof. Any such Additional Bonds shall be secured by assignment of the payments to be made by the Participants pursuant to their intergovernmental agreements relating to such Bonds, and all other payments attributable to the Project or to the Annual Project Costs to be made in accordance with or pursuant to any other provision of this Agreement, as such payments may be increased and extended by reason of the issuance of such Additional Bonds, and such Additional Bonds may be issued in amounts sufficient to pay the full amount of such costs and sufficient to provide such reserves as may be reasonably determined by the Authority to be desirable. In the event that any Participant shall elect to expand the treatment capacity of the Project, and the other Participant shall not choose to join in such expansion as provided in Section 402, then the Authority may issue Additional Bonds to finance the costs of such expansion in treatment capacity, and all costs of issuing and carrying such Additional Bonds shall be paid by the Participant requesting such expansion.
Issuance of Additional Bonds. So long as there shall not have occurred and be continuing an event of default hereunder or under the Indenture, the Board shall, from time to time at the request of the Company, use its best efforts to issue Additional Bonds in aggregate principal amounts as requested by the Company under the terms and conditions provided herein and in the Indenture, but in no event shall the Board be liable for not issuing Additional Bonds. Additional Bonds may be issued to finance the (a) payment of outstanding Notes, (b) refunding all of the Bonds of any one or more series then outstanding, (c) payment of costs of the Project or (d) any combination of the foregoing; provided, in any case, that either prior to or contemporaneously with the issuance of Additional Bonds (i) the terms, conditions, manner of issuance, purchase price, delivery and contemplated disposition of the proceeds of the sale of such Additional Bonds shall have been approved in writing by the President or any Vice President of the Company, and (ii) the conditions specified in Article IV of the Indenture with respect to the issuance of such Additional Bonds shall have been satisfied.
Issuance of Additional Bonds. Additional Bonds may be issued by the Authority in accordance with the provisions of Section 4.9 of the Master Resolution and with a corresponding effect on the Base Rentals and Additional Rentals due hereunder.
Issuance of Additional Bonds. At the request of the Borrower, the Issuer may issue Additional Bonds from time to time for any purpose permitted by the Act. Those Additional Bonds shall be on a parity with the Project Bonds and any Additional Bonds theretofore or thereafter issued and outstanding as to the assignment to the Trustee of the Issuer’s right, title and interest in the Agreement, the Project Fund and the Bond Fund and the moneys and investments therein to provide for payment of principal of, and premium, if any, and interest on the Project Bonds; provided, that nothing herein shall prevent payment of principal of, and premium, if any, and interest on any series of Additional Bonds from (i) being otherwise secured and protected from sources or by property or instruments not applicable to the Project Bonds and any one or more series of Additional Bonds, or (ii) not being secured or protected from sources or by property or instruments applicable to the Project Bonds or one or more series of Additional Bonds. Each series of Additional Bonds shall be given a separate designation to distinguish it from any other series of Bonds issued hereunder, and any Supplemental Indenture entered into in connection with a series of Additional Bonds shall establish a separate Reimbursement Account with respect to that series, in which shall be deposited the proceeds of the drawings on the additional letter of credit securing such series, and which Reimbursement Account shall not be pledged to or constitute part of the security for the payment of principal of, and premium, if any, and interest on any other series of Bonds.
Issuance of Additional Bonds. The Agency and the Lessee recognize that under the provisions of and subject to the conditions set forth in the Indenture, the Agency may in its sole discretion authorize the entering into a Supplemental Indenture and issue one or more series of Additional Bonds on a parity with the Series 2003A Bonds for the purpose of (i) providing funds in excess of the Net Proceeds of insurance or eminent domain to repair, relocate, replace, rebuild or restore the Facility in the event of damage, destruction or taking by eminent domain, (ii) providing extensions, additions or improvements to the Facility, or (iii) refunding Outstanding Bonds. If the Lessee is not in default hereunder, the Agency will consider the issuance of Additional Bonds in a principal amount as is specified in a written request in accordance with the applicable provisions set forth in the Indenture. Any such completion, repair, relocation, replacement, rebuilding, restoration, additions, extensions or improvements shall become a part of the Facility and shall be included under this Agreement to the same extent as if originally included hereunder.
Issuance of Additional Bonds. The Authority shall not issue any Additional Bonds except in accordance with the terms of the Indenture.
Issuance of Additional Bonds. The Port shall have the right to issue Additional Bonds: (i) as refunding bonds which are used to achieve debt service savings or to achieve terms more beneficial than the terms of the Bonds being refunded, (ii) to pay any part of the Costs of the Project not fully funded or provided for out of the proceeds of the Initial Bonds, (iii) to pay the Costs of the Additional Special Facilities for any Additional Special Facilities, subject to the Port’s covenant to the Operators in Section 6.2.5.1 of this Lease Agreement, (iv) to pay the costs associated with the purchase of additional buses for fleet expansion or replacement of any buses required for the Common Transportation System, (v) to pay any costs of the Major Maintenance or BMF Major Maintenance, and (vi) subject to any restriction under Sections 6.2.5 and 12.3.5 regarding the use of the Customer Facility Charge and applicable law, to fund any other obligation imposed on the Port under this Lease Agreement. In the event that the Port determines that it is necessary or advisable to issue Additional Bonds, the Port will deliver to Operators a financial forecast and updates associated with each such Additional Bonds offering as provided in Section 3.1.2 and 3.1.
Issuance of Additional Bonds. If the Company is not in default hereunder, the Issuer may by the adoption of an appropriate resolution or resolutions, at the request of the Company, authorize the issuance of Additional Bonds upon the terms and conditions provided herein and in Sections 2.12 and 2.13 of the Indenture, but in no event shall the Issuer be liable for not issuing such Additional Bonds. Additional Bonds may only be issued to provide funds to pay any one or more of the following: (i) the costs of completing the Project; (ii) the costs of making at any time or from time to time such substitutions, additions, modifications and improvements or additional costs for the Project or any portion thereof, all as authorized by the Act, as the Company may deem necessary or desirable; (iii) the costs of refunding, to the extent permitted, any Bonds then Outstanding; and (iv) the costs of issuance and sale of the Additional Bonds, interest expenses during the construction period and other costs reasonably related to the financing as shall be agreed upon by the Company and the Issuer. Prior to the issuance of such Additional Bonds, (i) the terms thereof, the purchase price to be paid therefore and the manner in which the proceeds are to be disbursed shall have been approved in writing by the Company; (ii) the Issuer shall have entered into an amendment to this Agreement to provide that, for all purposes of this Agreement, the Project shall include any facilities and equipment being financed by the Additional Bonds, which facilities and equipment shall be described in amendments to Exhibit A hereto, and to provide for an increase in the amount payable under Section 4.02 hereof as shall be necessary to pay the principal of, premium, if any, and interest on the Additional Bonds as provided in the Supplemental Indenture required by Sections 2.12 and 2.13 of the Indenture, and to extend the term of this Agreement if the maturity of any of the Additional Bonds would otherwise occur after the expiration of the term of this Agreement; and (iii) the Issuer shall have otherwise complied with the provisions of Sections 2.12 and 2.13 of the Indenture with respect to the issuance of Additional Bonds.
Issuance of Additional Bonds. If the Company is not in default hereunder, the Issuer may by the adoption of an appropriate resolution or resolutions, at the request of the Company, authorize the issuance of Additional Bonds upon the terms and conditions provided herein and in Section 2.2 of the Indenture, but in no event shall the Issuer be liable for not issuing such Additional Bonds.
