Common use of Issuance of Additional Bonds Clause in Contracts

Issuance of Additional Bonds. At the request of an Authorized Representative of the Company, the Issuer shall, to the extent permitted by law, authorize the issuance of Additional Bonds upon the terms and conditions provided herein and in Section 2.14 of the Indenture. Additional Bonds may be issued to provide funds to pay (i) the costs of refunding any Outstanding Bonds and (ii) the costs of the issuance and sale of the Additional Bonds and capitalized interest and other costs reasonably related to the financing, PROVIDED THAT (1) such Additional Bonds shall be authorized by the Act or other successor or comparable legislation of the State; (2) in the unqualified opinion of Bond Counsel, satisfactory to the Trustee, interest on such Additional Bonds will be excludable from the gross income of the holders thereof for federal income tax purposes and such Additional Bonds and income therefrom will be exempt from taxation by the State except inheritance, estate and transfer taxes; (3) the terms of such Additional Bonds, the purchase price to be paid therefor and the manner in which the proceeds therefrom are to be disbursed shall have been approved in writing by the Company; (4) the Issuer is not in Default under the Indenture and the Company is not in Default under this Agreement; (5) the issuance of Additional Bonds will not constitute a Default under this Agreement or cause any violation of the covenants or representations of the Company in this Agreement; (6) this Agreement is amended (to the extent required) to provide for such increase in the loan payments to be made by the Company to the Issuer as shall be necessary to pay the principal of, premium, if any, and interest on the Additional Bonds and for

Issuance of Additional Bonds. At If the Borrower is not in default hereunder, the Issuer may by the adoption of an appropriate resolution or resolutions, at the request of an Authorized Representative of the Company, the Issuer shall, to the extent permitted by lawBorrower, authorize the issuance of Additional Bonds upon the terms and conditions provided herein and in Section 2.14 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 refunding completing the Project; (ii) the costs of making at any Outstanding time or from time to time such substitutions, additions, modifications and improvements to the Project or any portion thereof, as authorized by the Act, as the Borrower may deem necessary or desirable; (iii) the costs of refunding, to the extent permitted, any Bonds then Outstanding; and (iiiv) the costs of the issuance and sale of the Additional Bonds and capitalized Bonds, interest expenses during the construction period and other costs reasonably related to the financing, PROVIDED THAT (1) such Additional Bonds financing as shall be authorized agreed upon by the Act or other successor or comparable legislation of Borrower and the State; (2) in the unqualified opinion of Bond Counsel, satisfactory Issuer. Prior to the Trustee, interest on such Additional Bonds will be excludable from the gross income of the holders thereof for federal income tax purposes and such Additional Bonds and income therefrom will be exempt from taxation by the State except inheritance, estate and transfer taxes; (3) the terms issuance of such Additional Bonds, the terms thereof, the purchase price to be paid therefor and the manner in which the proceeds therefrom are to be disbursed shall have been approved in writing by the Company; (4) Borrower, the Borrower and the Issuer is not in Default under the Indenture and the Company is not in Default under shall have entered into an amendment to this Agreement to provide that, for all purposes of this Agreement; (5) , the issuance of Project shall include any facilities being financed by the Additional Bonds will not constitute a Default under this Agreement or cause any violation of the covenants or representations of the Company Bonds, which facilities shall be described in this Agreement; (6) this Agreement is amended (amendments to the extent required) Exhibit A hereto, and to provide for such an increase in the loan payments to be made by the Company to the Issuer amount payable under Section 4.2 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 to be paid with respect to Additional Bonds required by Section 2.13 of the Indenture, and forto 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 the Issuer shall have otherwise complied with the provisions of Section 2.13 of the Indenture with respect to the issuance of such Additional Bonds

Issuance of Additional Bonds. At If the Company is not in default hereunder, the Issuer may by the adoption of an appropriate resolution or resolutions, at the request of an Authorized Representative of the Company, the Issuer shall, to the extent permitted by law, authorize the issuance of Additional Bonds upon the terms and conditions provided herein and in Section 2.14 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 refunding any Outstanding Bonds and 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 and capitalized Bonds, interest expenses during the construction period and other costs reasonably related to the financing, PROVIDED THAT (1) such Additional Bonds financing as shall be authorized agreed upon by the Act or other successor or comparable legislation of Company and the State; (2) in the unqualified opinion of Bond Counsel, satisfactory Issuer. Prior to the Trustee, interest on such Additional Bonds will be excludable from the gross income of the holders thereof for federal income tax purposes and such Additional Bonds and income therefrom will be exempt from taxation by the State except inheritance, estate and transfer taxes; (3) the terms issuance of such Additional Bonds, (i) the terms thereof, the purchase price to be paid therefor therefore and the manner in which the proceeds therefrom are to be disbursed shall have been approved in writing by the Company; (4ii) the Issuer is not in Default under the Indenture and the Company is not in Default under shall have entered into an amendment to this Agreement to provide that, for all purposes of this Agreement; (5) , the issuance of Project shall include any facilities and equipment being financed by the Additional Bonds will not constitute a Default under this Agreement or cause any violation of the covenants or representations of the Company Bonds, which facilities and equipment shall be described in this Agreement; (6) this Agreement is amended (amendments to the extent required) Exhibit A hereto, and to provide for such an increase in the loan payments to be made by the Company to the Issuer 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 for2.13 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.