Loan to Borrower. The City and the Borrower agree that the application of the proceeds of sale of the Bonds to refund and retire a portion of the Prior Bonds and the first mortgage bonds of the Borrower relating thereto will be deemed to be and treated for all purposes as a loan to the Borrower of an amount equal to the principal amount of the Bonds.
Appears in 3 contracts
Samples: Loan Agreement (San Diego Gas & Electric Co), Loan Agreement (San Diego Gas & Electric Co), Loan Agreement (Enova Corp)
Loan to Borrower. The City and the Borrower agree that the application of the proceeds of sale of the Bonds to refund and retire a portion of the Prior Bonds and the first fast mortgage bonds of the Borrower relating thereto to the Prior Bonds will be deemed to be and treated for all purposes as a loan to the Borrower of an amount equal to the principal amount of the Bonds.
Appears in 1 contract
Samples: Loan Agreement (Sempra Energy)
