Mortgage Bonds. Prior to 10 A.M. (New York City time) on the date of Maturity or as soon as possible thereafter, Deutsche Bank will pay by separate wire transfer (using Fedwire message entry instructions in a form previously specified by DTC) to an account at the Federal Reserve Bank of New York previously specified by DTC, in funds available for immediate use by DTC, each payment of principal (together with interest thereon) due on a Global Security on such date. On each Interest Payment Date (other than at Maturity), interest payments shall be made to DTC, in funds available for immediate use by DTC, in accordance with existing arrangements between Deutsche Bank and DTC. On each such date, DTC will pay, in accordance with its SDFS operating procedures then in effect, such amounts in funds available for immediate use to the respective Participants in whose names the Book-Entry Notes represented by such Global Securities are recorded in the book-entry system maintained by DTC. Neither the Company nor Deutsche Bank shall have any direct responsibility or liability for the payment by DTC to such Participants of the principal of and interest on the Book-Entry Notes.
Mortgage Bonds. In order to secure its obligations under Section 4.1 and Section 4.7 of this Agreement, the Company shall execute and deliver to the Trustee, as assignee of the Authority, its Mortgage Bonds. Each such Mortgage Bond will be in substantially the form set forth in the Supplemental Indenture.
Mortgage Bonds. At the Signature Date no mortgage bonds are registered against the Property.
Mortgage Bonds. 5 Section 4.3. Payment of the Bonds from Payment of the Mortgage Bonds and Other Amounts. 5
Mortgage Bonds. The Issuer shall assign and pledge to the Trustee as security under the Indenture all rights, title and interests of the Issuer in and to (i) the Notes and all payments thereunder, (ii) this Agreement and all moneys receivable hereunder (except for payments under Sections 4.3 and 5.3 hereof) and (iii) the First Mortgage Bonds. The Company assents to such assignment and hereby agrees that, as to the Trustee, its obligations to make such payments shall be absolute and shall not be subject to any defense or any right of set-off, counterclaim or recoupment arising out of any breach by the Issuer or the Trustee of any obligation to the Company, whether hereunder or otherwise, or out of any indebtedness or liability at any time owing to the Company by the Issuer or the Trustee.
Mortgage Bonds. To the extent that (a) Bonds have been paid or become due and sufficient moneys are held by the Trustee in trust for the payment thereof, (b) Bonds are deemed to have been paid in accordance with Section 205 and (c) Bonds (other than Bonds which have been redeemed or called for redemption) have been delivered to, or have been acquired by, the Trustee and canceled and other Bonds of the same series shall not be issuable in lieu thereof, in substitution therefor, in exchange therefor or upon registration of transfer thereof, the obligation of the Company to make payments with respect to the principal, premium, if any, and interest on the First Mortgage Bonds, if issued, shall be satisfied and discharged and the Trustee shall release and surrender to the Company First Mortgage Bonds in an aggregate principal amount equal to the aggregate principal amount of such Bonds, bearing the same rate or rates of interest as such Bonds and becoming due, either by redemption through operation of a sinking fund or by maturity, on the same date or dates as such Bonds.
Mortgage Bonds. First Mortgage Bonds shall have been delivered in connection with the Bonds and a "default" as defined in Section 12.01 of the First Mortgage shall have occurred and be continuing.
Mortgage Bonds. The Authority shall issue the Bonds pursuant to the Act in the amount, in the form, and with the terms provided herein, and shall loan to the Company such amount (the "Loan") to refinance Project Costs as hereinafter provided. The Company agrees to repay the Loan of the aggregate principal amount of the Bonds in the amounts and at the times necessary to pay principal of, premium, if any, and interest on the Bonds by making the payments required under Section 305, and to evidence and secure the Company's obligation to do so, the Company shall issue and deliver to the Trustee a like aggregate principal amount of its Series K First Mortgage Bonds in the form set forth in the First Mortgage Bond Indenture. Upon payment of the principal of and premium, if any, on any of the Bonds and payment of all accrued interest in connection therewith, whether at maturity or prior to maturity by redemption or otherwise, or upon provision for the payment thereof having been made in accordance with Section 204, Series K First Mortgage Bonds in an aggregate principal amount equal to the aggregate principal amount of the Bonds so paid, or for the payment of which such provision has been made, shall be deemed fully paid and the obligations of the Company thereunder terminated as provided in the First Mortgage Indenture and shall be surrendered by the Trustee to the First Mortgage Bond Trustee for cancellation. The Trustee shall promptly notify the First Mortgage Bond Trustee by telephone, confirmed in writing, of any default in the payment of principal of, and premium, if any, and interest on the Bonds, and shall promptly notify the First Mortgage Bond Trustee by telephone, confirmed in writing of any payment of principal of and premium, if any, and interest (other than payment of regularly scheduled interest) on the Bonds, or if the Bonds have been paid or deemed paid, defeased, redeemed, retired, surrendered or canceled. In accordance with the terms thereof, the Series K First Mortgage Bonds shall be issued to and registered in the name of the Trustee and shall not be sold, assigned, pledged or transferred, except to effect transfer to any successor Trustee hereunder. The Series K First Mortgage Bonds shall have a principal amount, an interest rate, a maturity date and redemption provisions corresponding to the Bonds. Payments of principal of and premium, if any, and interest on the Series K First Mortgage Bonds shall upon receipt by the Trustee be deemed to constitute payment...
Mortgage Bonds. The Mortgage of Washington Gas dated January 1, 1933 (Mortgage), as supplemented and amended, securing any First Mortgage Bonds (FMBs) it issues, constitutes a direct lien on substantially all property and franchises owned by the regulated utility, other than expressly excepted property. During fiscal year 1999, $43.0 million of FMBs were retired and the company had no debt outstanding under the Mortgage at either September 30, 2000 or September 30, 1999. Under the new holding company structure discussed in Note 2, any FMBs that may be issued in the future will represent an indebtedness of the regulated utility. The regulated utility issues unsecured MTNs with individual terms regarding interest rates, maturities and any call or put options. These notes can have maturity dates of one or more years from date of issuance. At September 30, 2000 and 1999, the weighted-average interest rate on all outstanding MTNs was 6.78 percent and 6.70 percent, respectively. As summarized in the following table, Washington Gas issued $53.0 million of MTNs in fiscal year 2000. Date Issued Coupon Rate Maturity Date Redeemable Prior To Maturity April 2000 $ 8.5 7.50% April 2030 Yes* April 2000 4.0 7.50% April 2010 No June 2000 20.5 7.45% June 2005 No June 2000 20.0 7.70% June 2010 No Total $53.0 *Holders have the option to put these notes to Washington Gas at par by delivering written notice at least 30 days, but no more than 60 days, prior to April 1, 2010. At September 30, 2000 and 1999, respectively, Washington Gas had no interest rate hedge agreements outstanding in connection with planned issuances of MTNs. However, at September 30, 1998, the company had two interest rate hedge agreements outstanding. As described in Note 1, the company accounted for these agreements as xxxxxx of anticipated transactions in accordance with SFAS No. 80. On June 15, 1998, in order to lock in the Treasury yield for the anticipated issuance of $25 million of 10-year MTNs in November 1998, the company entered into an agreement that reflected the forward sale of $24.9 million of 10-year U.S. Treasury notes at a fixed price to be paid on November 3, 1998. The company unwound its hedge position concurrent with the issuance of $25 million of MTNs in October 1998. The notes have a 10-year nominal life and a coupon rate of 5.49 percent. The company recorded the $2.1 million that it paid associated with the settlement of this hedge agreement as unamortized debt issuance costs in October 1998, which i...
Mortgage Bonds. The 2005 Series A Mortgage Bond,
(i) when executed by the Borrower and authenticated by the trustee under the Indenture of Mortgage and Deed of Trust in accordance with the Indenture of Mortgage and Deed of Trust and delivered to the Administrative Agent in accordance with the terms hereof, will constitute a valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors' rights generally. The Borrower has all requisite corporate power and authority to issue and deliver the 2005 Series A Mortgage Bond in accordance with and upon the terms and conditions set DC1 - 221047.18 forth herein.
(ii) has been duly and validly issued and is entitled to the security and benefits of the Indenture of Mortgage and Deed of Trust; is secured equally and ratably with, and only with, all other securities issued and outstanding under the Indenture of Mortgage and Deed of Trust; and is secured by direct and valid, duly perfected first priority Liens on and security interests in the Mortgaged Property (as defined in the Indenture of Mortgage and Deed of Trust), subject only to the prior Lien of the Indenture of Mortgage and Deed of Trust and to Permitted Liens.
