Liquidity Facilities. The Issuer may establish one or more Liquidity Facilities in connection with the issuance of an Additional Series by entering into transaction documentation (the “Liquidity Facility Documents”) with one or more Liquidity Facility Providers. The following conditions must be satisfied before the Issuer establishes a Liquidity Facility:
(a) the Issuer’s having obtained Rating Agency Confirmation with respect to all Outstanding Series, provided that, because the establishment of such Liquidity Facility would occur in connection with the issuance of an Additional Series, the establishment of such Liquidity Facility would be subject to the same Rating Agency Confirmation as such Additional Series;
(b) no Manager Termination Event, Event of Default or Early Amortization Event shall have occurred and be continuing at the time of the establishment of the Liquidity Facility, and no Manager Termination Event, Event of Default or Early Amortization Event would occur as a result of the transactions associated with the establishment of the Liquidity Facility;
(c) the Liquidity Facility Provider shall have a long-term credit rating of not less than the highest rating issued by the Rating Agency on any Outstanding Equipment Notes, and shall not have a published long-term rating issued by any NRSRO lower than the highest rating on any Outstanding Equipment Notes;
(d) the Liquidity Facility Documents shall contain provisions (i) addressing the limited recourse nature of the Issuer’s obligation to make payments to the Liquidity Facility Provider, (ii) consistent with the bankruptcy remoteness of the Issuer, (iii) restricting the ability of the Liquidity Facility Provider to assign, transfer or delegate its obligations under the Liquidity Facility, (iv) ensuring that draws on the Liquidity Facility are payable on demand and without the need for a default or event of default to have occurred, (v) setting forth timetables consistent with the Issuer having funds to make timely payments on the Equipment Notes, and (vi) allowing a reasonable period of time for the Issuer to renew or to replace the Liquidity Facility as it nears its stated maturity, and to effect draws under the Liquidity Facility in the event the Liquidity Facility is not timely renewed or replaced, or the Liquidity Facility Provider is downgraded or defaults in its obligations after any applicable grace period; and
(e) the Issuer shall have delivered to the Indenture Trustee, on or prior to the establishment of s...
Liquidity Facilities. 41 Section 3.07 The Policy................................................................................. 47 Section 3.08 Subrogation................................................................................ 51
Liquidity Facilities. Each Conduit Lender party hereto hereby represents that (i) pursuant to the Liquidity Agreement, such Conduit Lender has obtained a Liquidity Commitment from its Liquidity Provider(s) in an amount equal to 102% of the greater of (A) its Commitment from time to time in effect hereunder, and (B) its Percentage of the Aggregate Principal outstanding from time to time hereunder, and (ii) while the Liquidity Provider(s) may not be obligated to pay par for a Loan that is transferred to it pursuant to the Liquidity Agreement, the only condition precedent to any Liquidity Provider(s) obligation to pay the agreed-upon price thereunder is the absence of an Event of Bankruptcy with respect to such Conduit Lender.
Liquidity Facilities. 35 ARTICLE IV
Liquidity Facilities. 37 SECTION 3.7. THE POLICY................................................................. 44
Liquidity Facilities. The Issuer may establish one or more Liquidity Facilities in connection with the issuance of an Additional Series by entering into transaction documentation (the “Liquidity Facility Documents”) with one or more Liquidity Facility Providers. The following conditions must be satisfied before the Issuer establishes a Liquidity Facility:
Liquidity Facilities. For so long as the Policy remains in effect or any Reimbursement Obligation or Premium remains unpaid, the Company will ensure that whenever a Bond bears interest at a rate (other than an Auction Rate (as defined in the Indenture)) that is not fixed to maturity, the obligation of the Company to purchase, or provide funds for the purchase of, such Bonds at the end of any interest rate period shall be supported by a standby bond purchase agreement or other liquidity facility from a provider, and on terms and conditions, acceptable to Ambac.
Liquidity Facilities. 47- SECTION 3.7 The Policy . . . . . . . . . . . . . . . . . . . . . . . -54-
Liquidity Facilities. Section 8.1. Authorization of Liquidity Facility 38 Section 8.2. Requirements for Liquidity Facility 38 Section 8.3. Alternate Liquidity Facility 38 Section 8.4. Opinions of Counsel and Other Documents 39 Section 8.5. Draws 39 Section 8.6. Rights of Liquidity Facility Provider 41 Section 8.7. Notices to Liquidity Facility Provider 41 ARTICLE IX INTEREST RATE CONTRACTS Section 9.1. Interest Rate Contract 42 Section 9.2. Obligation to Make Interest Rate Contract Payments 42 Section 9.3. Requirements for Delivery of an Alternate Interest Rate Contract 42 Section 10.1. Severability and Invalid Provisions 43 Section 10.2. Table of Contents and Section Headings Not Controlling 43 Section 10.3. Counterparts; Electronic Transactions 43 Section 10.4. Effective Date; Execution and Delivery 43 EXHIBIT A FORM OF 2024 SERIES C-1 BOND ............................................................ A-1 EXHIBIT B FORM OF 2024 SERIES C-2 BOND ..............................................................B-1 This 2024C Series Indenture, dated as of June 1, 2024 (this “Series Indenture”), between the Colorado Housing and Finance Authority (the “Authority”), a body corporate and political subdivision of the State of Colorado, and Zions Bancorporation, National Association (formerly, Zions First National Bank), as Trustee (the “Trustee”), a national banking association, duly organized and existing under the laws of the United States of America, with a corporate trust office located in Denver, Colorado, and authorized under such laws to accept and execute trusts of the character herein set forth,
Liquidity Facilities. The Liquidity Facilities listed on Schedule 3.15 constitute a complete and accurate list of each Liquidity Facility (other than this Agreement) to which any of the Borrowers is a party as of the date hereof.
