Common use of Issuance of Future Bonds Clause in Contracts

Issuance of Future Bonds. ‌ (i) In order to issue any Future Bonds, the Borrower shall provide the TIFIA Lender a certificate of the Borrower’s Chief Executive Officer or Chief Financial Officer, in form reasonably acceptable to the TIFIA Lender (including the calculations supporting such certificate), certifying that (A) the Borrower has satisfied the requirements for issuing such Future Bonds under the applicable Bond Documents; (B) the Future Bonds Historic Debt Service Coverage Ratio shall be not less than 1.10 to 1.00; (C) the Future Bonds Projected Debt Service Coverage Ratio for each calendar year during the Projected Period shall be not less than 1.10 to 1.00; and (D) the Revenue Coverage Ratio, after giving effect to the issuance of such Future Bonds, shall be projected to be not less than 1.00 to 1. 00 in each calendar year while the XXXXX Xxxx is scheduled to be outstanding. (ii) In addition to the requirements set forth in clause (i) above, in order to issue Future Bonds, the Borrower shall provide the TIFIA Lender a certificate of the Borrower’s Chief Executive Officer or Chief Financial Officer, in form reasonably acceptable to the TIFIA Lender, certifying that (A) no Event of Default under the Bond Documents, this Agreement or any other TIFIA Loan Document shall have occurred and be continuing and (B) the Nationally Recognized Statistical Rating Organization that provided the most recent public rating of the TIFIA Bond then outstanding in accordance with Section 15(j) (Annual Rating) shall have confirmed that the incurrence of such Future Bonds shall not result in a downgrade of the then existing credit rating of the TIFIA Bond then outstanding below “A-” or “A3” (or the equivalent thereto).

Issuance of Future Bonds. ‌ (i) In order to issue any Future Bonds, the Borrower shall provide the TIFIA RRIF Lender a certificate of the Borrower’s Chief Executive Officer or Chief Financial Officer, in form reasonably acceptable to the TIFIA RRIF Lender (including the calculations supporting such certificate), certifying that (A) the Borrower has satisfied the requirements for issuing such Future Bonds under the applicable Bond Documents; (B) the Future Bonds Historic Debt Service Coverage Ratio shall be not less than 1.10 to 1.00; (C) the Future Bonds Projected Debt Service Coverage Ratio for each calendar year during the Projected Period shall be not less than 1.10 to 1.00; and (D) the Revenue Coverage Ratio, after giving effect to the issuance of such Future Bonds, shall be projected to be not less than 1.00 to 1. 00 in each calendar year while the XXXXX Xxxx RRIF Bond is scheduled to be outstanding. (ii) In addition to the requirements set forth in clause (i) above, in order to issue Future Bonds, the Borrower shall provide the TIFIA RRIF Lender a certificate of the Borrower’s Chief Executive Officer or Chief Financial Officer, in form reasonably acceptable to the TIFIA RRIF Lender, certifying that (A) no Event of Default under the Bond Documents, this Agreement or any other TIFIA RRIF Loan Document shall have occurred and be continuing and (B) the Nationally Recognized Statistical Rating Organization that provided the most recent public rating of the TIFIA RRIF Bond then outstanding in accordance with Section 15(j) (Annual Rating) shall have confirmed that the incurrence of such Future Bonds shall not result in a downgrade of the then existing credit rating of the TIFIA RRIF Bond then outstanding to below “A-” “ or “A3” (or the equivalent thereto).

Issuance of Future Bonds. ‌ (i) In order to issue any Future Bonds, the Borrower shall provide the TIFIA Lender a certificate of the Borrower’s Chief Executive Officer or Chief Financial Officer, in form reasonably acceptable to the TIFIA Lender (including the calculations supporting such certificate), certifying that (A) the Borrower has satisfied the requirements for issuing such Future Bonds under the applicable Bond Documents; (B) the Future Bonds Historic Debt Service Coverage Ratio shall be not less than 1.10 to 1.00; (C) the Future Bonds Projected Debt Service Coverage Ratio for each calendar year during the Projected Period shall be not less than 1.10 to 1.00; and (D) the Revenue Coverage Ratio, after giving effect to the issuance of such Future Bonds, shall be projected to be not less than 1.00 to 1. 00 in each calendar year while the XXXXX Xxxx TIFIA Bond is scheduled to be outstanding. (ii) In addition to the requirements set forth in clause (i) above, in order to issue Future Bonds, the Borrower shall provide the TIFIA Lender a certificate of the Borrower’s Chief Executive Officer or Chief Financial Officer, in form reasonably acceptable to the TIFIA Lender, certifying that (A) no Event of Default under the Bond Documents, this Agreement or any other TIFIA Loan Document shall have occurred and be continuing and (B) the Nationally Recognized Statistical Rating Organization that provided the most recent public rating of the TIFIA Bond then outstanding in accordance with Section 15(j) (Annual Rating) shall have confirmed that the incurrence of such Future Bonds shall not result in a downgrade of the then existing credit rating of the TIFIA Bond then outstanding below “A-” or “A3” (or the equivalent thereto).

Issuance of Future Bonds. ‌ (i) In order to issue any Future Bonds, the Borrower shall provide the TIFIA Lender a certificate of the Borrower’s Chief Executive Officer or Chief Financial Officer, in form reasonably acceptable to the TIFIA Lender (including the calculations supporting such certificate), certifying that (A) the Borrower has satisfied the requirements for issuing such Future Bonds under the applicable Bond Documents; (B) the Future Bonds Historic Debt Service Coverage Ratio shall be not less than 1.10 to 1.00; (C) the Future Bonds Projected Debt Service Coverage Ratio for each calendar year during the Projected Period shall be not less than 1.10 to 1.00; and (D) the Revenue Coverage Ratio, after giving effect to the issuance of such Future Bonds, shall be projected to be not less than 1.00 to 1. 00 to 1.00 in each calendar year while the XXXXX Xxxx is any TIFIA Bonds are scheduled to be outstanding. (ii) In addition to the requirements set forth in clause (i) above, in order to issue Future Bonds, the Borrower shall provide the TIFIA Lender a certificate of the Borrower’s Chief Executive Officer or Chief Financial Officer, in form reasonably acceptable to the TIFIA Lender, certifying that (A) no Event of Default under the Bond Documents, this Agreement or any other TIFIA Loan MCA Document shall have occurred and be continuing and (B) the Nationally Recognized Statistical Rating Organization Agency that provided the most recent public rating of the TIFIA Bond Bonds then outstanding in accordance with Section 15(j) (Annual Rating12(j) shall have confirmed that the incurrence of such Future Bonds shall not result in a downgrade of the then existing credit rating of any of the TIFIA Bond Bonds then outstanding below “A-” or “A3” (or the equivalent thereto).

Issuance of Future Bonds. ‌ (i) In order to issue any Future Bonds, the Borrower shall provide the TIFIA Lender a certificate of the Borrower’s Chief Executive Officer or Chief Financial Officer, in form reasonably acceptable to the TIFIA Lender XXXXX Xxxxxx (including the calculations supporting such certificate), certifying that (A) the Borrower has satisfied the requirements for issuing such Future Bonds under the applicable Bond Documents; (B) the Future Bonds Historic Debt Service Coverage Ratio shall be not less than 1.10 to 1.00; (C) the Future Bonds Projected Debt Service Coverage Ratio for each calendar year during the Projected Period shall be not less than 1.10 to 1.00; and (D) the Revenue Coverage Ratio, after giving effect to the issuance of such Future Bonds, shall be projected to be not less than 1.00 to 1. 00 in each calendar year while the XXXXX Xxxx is scheduled to be outstanding. (ii) In addition to the requirements set forth in clause (i) above, in order to issue Future Bonds, the Borrower shall provide the TIFIA Lender a certificate of the Borrower’s Chief Executive Officer or Chief Financial Officer, in form reasonably acceptable to the TIFIA Lender, certifying that (A) no Event of Default under the Bond Documents, this Agreement or any other TIFIA Loan Document shall have occurred and be continuing and (B) the Nationally Recognized Statistical Rating Organization that provided the most recent public rating of the TIFIA Bond then outstanding in accordance with Section 15(j) (Annual Rating) shall have confirmed that the incurrence of such Future Bonds shall not result in a downgrade of the then existing credit rating of the TIFIA Bond then outstanding below “A-” or “A3” (or the equivalent thereto).