Pledge of State of California; Certificates and Notes Not Sample Clauses

Pledge of State of California; Certificates and Notes Not. Obligation of State of California, Originator, or Seller. (a) The Originator -------------------------------------------------------- hereby finds and determines, and hereby represents and warrants, that the Trust constitutes a "special purpose trust" under Section 63010 of the California Government Code and a "financing entity" under Section 840 of the PU Code, and that the Certificates constitute "rate reduction bonds" under Section 840 of the PU Code and that the Holders of the Certificates are entitled to the rights and benefits thereunder. Pursuant to Section 841(c) of the PU Code, the Originator, on behalf of the State of California, does hereby pledge and agree with the Note Issuer, the Trust and the Holders of the Certificates that the State of California shall neither limit nor alter the FTA Charges, the Transition Property, or the Financing Order or Advice Letters relating thereto, and all rights thereunder, until the Certificates, together with the interest thereon, are fully paid and discharged, provided nothing contained in this Section shall preclude such limitation or alteration if and when adequate provision shall be made by law for the protection of the Note Issuer, the Trustee and the Holders (the "State Pledge"). Further, the Originator does hereby pledge and agree with the Note Issuer, the Trust and the Holders of the Certificates that the Originator will not act in a manner inconsistent with the State Pledge and will not take any action that would impair any rights of the Note Issuer, the Trust or the Holders of the Certificates in the Notes, the Transition Property or the Certificates. The Originator hereby further agrees to treat the Notes as debt of the Note Issuer secured by, among other things, the Transition Property and the equity of the Note Issuer on deposit in the Capital Subaccount for all purposes.
Sample 1Sample 2Sample 3See All (9)
AutoNDA by SimpleDocs

Related to Pledge of State of California; Certificates and Notes Not

  • Certificate of Good Standing Legal Existence; and

  • Secretary of State The Secretary of State of the State of Delaware.

  • Organization Documents; Fiscal Year; Legal Name, State of Formation and Form of Entity (a) Amend, modify or change its Organization Documents in a manner adverse to the Lenders.

  • Certificates of Good Standing Certificates as of a recent date of the good standing of each Credit Party under the laws of its jurisdiction of organization and, to the extent requested by the Administrative Agent, each other jurisdiction where such Credit Party is qualified to do business and, to the extent available, a certificate of the relevant taxing authorities of such jurisdictions certifying that such Credit Party has filed required tax returns and owes no delinquent taxes.

  • State of Incorporation; Name; No Changes Seller’s state of incorporation is the State of Nevada. Seller’s exact legal name is as set forth in the first paragraph of this Agreement. Seller has not changed its name whether by amendment of its Articles of Incorporation, by reorganization or otherwise, and has not changed its state of incorporation within the four months preceding the Closing Date.

  • Ratification and Incorporation of Original Indenture As supplemented hereby, the Original Indenture is in all respects ratified and confirmed, and the Original Indenture and this Supplemental Indenture shall be read, taken and construed as one and the same instrument.

  • Name; Jurisdiction of Organization, etc On the date hereof, such Grantor’s exact legal name (as indicated on the public record of such Grantor’s jurisdiction of formation or organization), jurisdiction of organization, organizational identification number, if any, United States taxpayer identification number, if any, and the location of such Grantor’s chief executive office or sole place of business are specified on Schedule 3.4. Each Grantor is organized solely under the law of the jurisdiction so specified and has not filed any certificates of domestication, transfer or continuance in any other jurisdiction. Except as otherwise indicated on Schedule 3.4, the jurisdiction of each such Grantor’s organization of formation is required to maintain a public record showing the Grantor to have been organized or formed. Except as specified on Schedule 3.4, as of the Closing Date (or the date of any applicable Joinder Agreement hereto in the case of an Additional Grantor) no such Grantor has changed its name, jurisdiction of organization, chief executive office or sole place of business or its corporate structure in any way (e.g., by merger, consolidation, change in corporate form or otherwise) within the past five years and has not within the last five years become bound (whether as a result of merger or otherwise) as a grantor under a security agreement entered into by another Person, which has not heretofore been terminated.

  • Certificate of Amendment A successor Owner Trustee appointed under this Agreement will promptly file a certificate of amendment to the Certificate of Trust with the Secretary of State of the State of Delaware identifying the name and principal place of business of the successor Owner Trustee in the State of Delaware. The successor Owner Trustee will promptly deliver a file-stamped copy of the certificate of amendment to the Administrator.

  • Incorporation; Good Standing 28 7.1.2. Authorization...............................................29 7.1.3. Enforceability..............................................29 7.2.

  • Articles of Organization This Company is organized pursuant to the provisions of the COLORADO LIMITED LIABILITY COMPANY ACT (the “Act”, codified in Colorado Revised Statues §7-80-100 et seq. as it may be amended from time to time) and pursuant to Articles of Organization filed with the Secretary of State on January 24, 2014. The rights and obligations of the Company and the Members shall be provided in this Operating Agreement.

Time is Money Join Law Insider Premium to draft better contracts faster.