Representations and Covenants by the Company. The Company makes the following covenants and representations as the basis for the undertakings on its part herein contained: (a) The Company is, and at all times will be, a limited liability company duly organized, validly existing and in good standing under the laws of the State of Kansas. The Company has, and will at all times have, all requisite power to own its property and conduct its business as now conducted and as presently contemplated, to execute and deliver this Lease and to perform its duties and obligations hereunder. (b) The Company (i) shall maintain and preserve its existence as a limited liability company and maintain its authority to do business in the State and to operate the Project; and (ii) shall not initiate any proceedings of any kind whatsoever to dissolve or liquidate without (A) securing the prior written consent thereto of the Issuer and the Owners of all of the Outstanding Bonds and (B) making provision for the payment in full of the principal of and interest on the Bonds. (c) To the Company’s knowledge, neither the execution and/or delivery of this Lease, the consummation of the transactions contemplated hereby or by the Indenture, nor the fulfillment of or compliance with the terms and conditions of this Lease contravenes in any material respect any provision of its articles of organization or its operating agreement, or conflicts in any material respect with or results in a material breach of the terms, conditions or provisions of any mortgage, debt, agreement, indenture or instrument to which the Company is a party or by which it is bound, or to which it or any of its properties is subject, or would constitute a material default (without regard to any required notice or the passage of any period of time) under any of the foregoing, or would result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company under the terms of any mortgage, debt, agreement, indenture or instrument, or violates in any material respect any existing law, administrative regulation or court order or consent decree to which the Company is subject. (d) This Lease constitutes a legal, valid and binding obligation of the Company enforceable in accordance with its terms. (e) The Company agrees to operate and will operate the Project, or cause the Project to be operated, as a “facility,” as that term is contemplated in the Act, from the date of the Issuer’s acquisition of its leasehold interest in the Project to the end of the Term. (f) The estimated total cost of the Project to be financed by the Series 2024 Bonds, plus interest on the Series 2024 Bonds during acquisition, construction, equipping and furnishing of the Improvements, and expenses anticipated to be incurred in connection with the issuance of the Series 2024 Bonds, will not be less than the aggregate face amount of the Series 2024 Bonds funded pursuant to the Bond Purchase Agreement.
Appears in 3 contracts
Samples: Lease, Lease Agreement, Lease
Representations and Covenants by the Company. The Company makes the following covenants and representations as the basis for the undertakings on its part herein contained:
(a) The Each of the entities constituting the Company is, and at all times will be, a limited liability company duly organized, validly existing and in good standing under the laws of the State of Kansas. The Company has, and will at all times haveis duly authorized and qualified to do business in the State, all requisite with lawful power and authority to own enter into this Lease, acting by and through its property and conduct its business as now conducted and as presently contemplated, to execute and deliver this Lease and to perform its duties and obligations hereunderduly authorized manager or managers.
(b) The Each entity constituting the Company (i) shall maintain and preserve its existence as a limited liability company and maintain its authority to do business in the State and to operate the Project; and (ii) shall not initiate any proceedings of any kind whatsoever to dissolve or liquidate without (A) securing the prior written consent thereto of the Issuer and the Owners of all of the Outstanding Bonds and (B) making provision for the payment in full of the principal of and interest on the Bonds.
(c) To the Company’s knowledge, neither the execution and/or delivery of this Lease, the consummation of the transactions contemplated hereby or by the Indenture, nor the fulfillment of or compliance with the terms and conditions of this Lease contravenes in any material respect any provision of its articles of organization or its operating agreement, or conflicts in any material respect with or results in a material breach of the terms, conditions or provisions of any mortgage, debt, agreement, indenture or instrument to which the Company is a party or by which it is bound, or to which it or any of its properties is subject, or would constitute a material default (without regard to any required notice or the passage of any period of time) under any of the foregoing, or would result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company under the terms of any mortgage, debt, agreement, indenture or instrument, or violates in any material respect any existing law, administrative regulation or court order or consent decree to which the Company is subject.
(d) This Lease constitutes a legal, valid and binding obligation of the Company enforceable in accordance with its terms.
(e) The Company agrees to operate and will operate the Project, or cause the Project to be operated, as a “facility,” as that term is contemplated in the Act, from the date of the Issuer’s acquisition of its leasehold interest in the Project to the end of the Term.
(f) The estimated total cost of the Project to be financed by the Series 2024 Bonds, plus interest on the Series 2024 Bonds during acquisition, construction, equipping and furnishing of the Improvements, and expenses anticipated to be incurred in connection with the issuance of the Series 2024 Bonds, will not be less than the aggregate face amount of the Series 2024 Bonds funded pursuant to the Bond Purchase AgreementAgreement for each series of Bonds.
Appears in 1 contract
Samples: Lease
Representations and Covenants by the Company. The Company makes the following covenants and representations as the basis for the undertakings on its part herein contained:
(a) The Company is, and at all times will be, a Kansas limited liability company duly organized, validly existing and in good standing under the laws of the State of KansasState, with lawful power. The Company has, and will at all times have, all requisite power to own its property and conduct its business as now conducted and as presently contemplated, to execute and deliver this Lease and to perform its duties and obligations hereunder.
(b) The Company (i) shall maintain and preserve its existence as a limited liability company and maintain its authority to do business in the State and to operate the Project; and (ii) shall not initiate any proceedings of any kind whatsoever to dissolve or liquidate without (A) securing the prior written consent thereto of the Issuer and the Owners of all of the Outstanding Bonds and (B) making provision for the payment in full of the principal of and interest on the Bonds.
(c) To the Company’s knowledge, neither the execution and/or delivery of this Lease, the consummation of the transactions contemplated hereby or by the Indenture, nor the fulfillment of or compliance with the terms and conditions of this Lease contravenes in any material respect any provision of its articles of organization or its operating agreement, or conflicts in any material respect with or results in a material breach of the terms, conditions or provisions of any mortgage, debt, agreement, indenture or instrument to which the Company is a party or by which it is bound, or to which it or any of its properties is subject, or would constitute a material default (without regard to any required notice or the passage of any period of time) under any of the foregoing, or would result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company under the terms of any mortgage, debt, agreement, indenture or instrument, or violates in any material respect any existing law, administrative regulation or court order or consent decree to which the Company is subject.
(d) This Lease constitutes a legal, valid and binding obligation of the Company enforceable in accordance with its terms.
(e) The Company agrees to operate and will operate the Project, or cause the Project to be operated, as a “facility,” as that term is contemplated in the Act, from the date of the Issuer’s acquisition of its leasehold interest in the Project to the end of the Term.
(f) The estimated total cost of the Project to be financed by the Series 2024 2021 Bonds, plus interest on the Series 2024 2021 Bonds during acquisition, construction, equipping and furnishing of the Improvements, and expenses anticipated to be incurred in connection with the issuance of the Series 2024 2021 Bonds, will not be less than the aggregate face amount of the Series 2024 2021 Bonds funded pursuant to the Bond Purchase Agreement.
Appears in 1 contract
Samples: Lease
Representations and Covenants by the Company. The Company makes the following covenants and representations as the basis for the undertakings on its part herein contained:.
(a) The Company is, and at all times will be, a limited liability company duly organized, organized and validly existing and in good standing under the laws of the State of Kansas. The Company has, and will at all times have, all requisite power to own its property and conduct its business as now conducted and as presently contemplated, to execute and deliver this Lease and to perform its duties and obligations hereunder.
(b) The Company (i) shall maintain and preserve its existence as a limited liability company and maintain its authority to do business in the State and to operate the Project; and (ii) shall not initiate any proceedings of any kind whatsoever to dissolve or liquidate without (A) securing the prior written consent thereto of the Issuer and the Owners of all of the Outstanding Bonds and (B) making provision for the payment in full of the principal of and interest on the Bonds.
(c) To the Company’s knowledge, neither the execution and/or delivery of this Lease, the consummation of the transactions contemplated hereby or by the Indenture, nor the fulfillment of or compliance with the terms and conditions of this Lease contravenes in any material respect any provision of its articles of organization or its operating agreement, or conflicts in any material respect with or results in a material breach of the terms, conditions or provisions of any mortgage, debt, agreement, indenture or instrument to which the Company is a party or by which it is bound, or to which it or any of its properties is subject, or would constitute a material default (without regard to any required notice or the passage of any period of time) under any of the foregoing, or would result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company under the terms of any mortgage, debt, agreement, indenture or instrument, or violates in any material respect any existing law, administrative regulation or court order or consent decree to which the Company is subject.
(d) This Lease constitutes a legal, valid and binding obligation of the Company enforceable in accordance with its terms.
(e) The Company agrees to operate and will operate the Project, or cause the Project to be operated, as a “facility,” as that term is contemplated in the Act, from the date of the Issuer’s acquisition of its leasehold interest in the Project to the end of the Term.
(f) The estimated total cost of the Project to be financed by the Series 2024 2020 Bonds, plus interest on the Series 2024 2020 Bonds during acquisition, construction, equipping and furnishing of the Improvements, and expenses anticipated to be incurred in connection with the issuance of the Series 2024 2020 Bonds, will not be less than the aggregate face amount of the Series 2024 2020 Bonds funded pursuant to the Bond Purchase Agreement.
Appears in 1 contract
Samples: Lease
Representations and Covenants by the Company. The Company makes the following covenants and representations as the basis for the undertakings on its part herein contained:
(a) The Company is, and at all times will be, a Kansas limited liability company duly organized, validly existing and in good standing under the laws of the State of KansasState, with lawful power. The Company has, and will at all times have, all requisite power to own its property and conduct its business as now conducted and as presently contemplated, to execute and deliver this Lease and to perform its duties and obligations hereunder.
(b) The Company (i) shall maintain and preserve its existence as a limited liability company and maintain its authority to do business in the State and to operate the Project; and (ii) shall not initiate any proceedings of any kind whatsoever to dissolve or liquidate without (A) securing the prior written consent thereto of the Issuer and the Owners of all of the Outstanding Bonds and (B) making provision for the payment in full of the principal of and interest on the Bonds.
(c) To the Company’s knowledge, neither the execution and/or delivery of this Lease, the consummation of the transactions contemplated hereby or by the Indenture, nor the fulfillment of or compliance with the terms and conditions of this Lease contravenes in any material respect any provision of its articles of organization or its operating agreement, or conflicts in any material respect with or results in a material breach of the terms, conditions or provisions of any mortgage, debt, agreement, indenture or instrument to which the Company is a party or by which it is bound, or to which it or any of its properties is subject, or would constitute a material default (without regard to any required notice or the passage of any period of time) under any of the foregoing, or would result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company under the terms of any mortgage, debt, agreement, indenture or instrument, or violates in any material respect any existing law, administrative regulation or court order or consent decree to which the Company is subject.
(d) This Lease constitutes a legal, valid and binding obligation of the Company enforceable in accordance with its terms.
(e) The Company agrees to operate and will operate the Project, or cause the Project to be operated, as a “facility,” as that term is contemplated in the Act, from the date of the Issuer’s acquisition of its leasehold interest in the Project to the end of the Term.
(f) The estimated total cost of the Project to be financed by the Series 2024 2022 Bonds, plus interest on the Series 2024 2022 Bonds during acquisition, construction, equipping and furnishing of the Improvements, and expenses anticipated to be incurred in connection with the issuance of the Series 2024 2022 Bonds, will not be less than the aggregate face amount of the Series 2024 2022 Bonds funded pursuant to the Bond Purchase Agreement.
Appears in 1 contract
Samples: Lease
Representations and Covenants by the Company. The Company makes the following covenants and representations as the basis for the undertakings on its part herein contained:.
(a) The Company is, and at all times will be, a Delaware limited liability company duly organized, validly existing existing, and in good standing under the laws of the state, and is duly authorized and qualified to do business in the State of Kansas. The Company has, and will at all times have, all requisite power to own its property and conduct its business as now conducted and as presently contemplated, to execute and deliver this Lease and to perform its duties and obligations hereunder.
(b) The Company (i) shall maintain and preserve its existence as a limited liability company and maintain its authority to do business in the State and to operate the Project; and (ii) shall not initiate any proceedings of any kind whatsoever to dissolve or liquidate without (A) securing the prior written consent thereto of the Issuer and the Owners of all of the Outstanding Bonds and (B) making provision for the payment in full of the principal of and interest on the Bonds.
(c) To the Company’s knowledge, neither the execution and/or delivery of this Lease, the consummation of the transactions contemplated hereby or by the Indenture, nor the fulfillment of or compliance with the terms and conditions of this Lease contravenes in any material respect any provision of its articles of organization or its operating agreement, or conflicts in any material respect with or results in a material breach of the terms, conditions or provisions of any mortgage, debt, agreement, indenture or instrument to which the Company is a party or by which it is bound, or to which it or any of its properties is subject, or would constitute a material default (without regard to any required notice or the passage of any period of time) under any of the foregoing, or would result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company under the terms of any mortgage, debt, agreement, indenture or instrument, or violates in any material respect any existing law, administrative regulation or court order or consent decree to which the Company is subject.
(d) This Lease constitutes a legal, valid and binding obligation of the Company enforceable in accordance with its terms.
(e) The Company agrees to operate and will operate the Project, or cause the Project to be operated, as a “facility,” as that term is contemplated in the Act, from the date of the Issuer’s acquisition of its leasehold interest in the Project to the end of the Term.
(f) The estimated total cost of the Project to be financed by the Series 2024 2020 Bonds, plus interest on the Series 2024 2020 Bonds during acquisition, construction, equipping and furnishing of the Improvements, and expenses anticipated to be incurred in connection with the issuance of the Series 2024 2020 Bonds, will not be less than the aggregate face amount of the Series 2024 2020 Bonds funded pursuant to the Bond Purchase Agreement.
Appears in 1 contract
Samples: Lease
Representations and Covenants by the Company. The Company makes the following covenants and representations as the basis for the undertakings on its part herein contained:
(a) The Company is, and at all times will be, is a limited liability company company, duly organized, validly organized and existing and in good standing under the laws of the State of Kansas. The Company hasState, and will at all times haveis duly authorized and qualified to do business in the State, all requisite with lawful power and authority to own enter into this Lease, acting by and through its property and conduct its business as now conducted and as presently contemplated, to execute and deliver this Lease and to perform its duties and obligations hereunderduly authorized manager or managers.
(b) The Company shall (i) shall maintain and preserve its existence as a limited liability company and maintain its authority to do business in the State and to operate the Project; and (ii) shall not initiate any proceedings of any kind whatsoever to dissolve or liquidate without (A) securing the prior written consent thereto of the Issuer and the Owners of all of the Outstanding Bonds and (B) making provision for the payment in full of the principal of and interest on the Bonds.
(c) To the Company’s knowledge, neither the execution and/or delivery of this Lease, the consummation of the transactions contemplated hereby or by the Indenture, nor the fulfillment of or compliance with the terms and conditions of this Lease contravenes in any material respect any provision of its articles of organization or its operating agreement, or conflicts in any material respect with or results in a material breach of the terms, conditions or provisions of any mortgage, debt, agreement, indenture or instrument to which the Company is a party or by which it is bound, or to which it or any of its properties is subject, or would constitute a material default (without regard to any required notice or the passage of any period of time) under any of the foregoing, or would result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company under the terms of any mortgage, debt, agreement, indenture or instrument, or violates in any material respect any existing law, administrative regulation or court order or consent decree to which the Company is subject.
(d) This Lease constitutes a legal, valid and binding obligation of the Company enforceable in accordance with its terms.
(e) The Company agrees to operate and will operate the Project, or cause the Project to be operated, as a “facility,” as that term is contemplated in the Act, from the date of the Issuer’s acquisition of its leasehold interest in the Project to the end of the Term.
(f) The estimated total cost of the Project to be financed by the Series 2024 2020 Bonds, plus interest on the Series 2024 2020 Bonds during acquisition, construction, equipping and furnishing of the Improvements, and expenses anticipated to be incurred in connection with the issuance of the Series 2024 2020 Bonds, will not be less than the aggregate face amount of the Series 2024 2020 Bonds funded pursuant to the Bond Purchase Agreement.
Appears in 1 contract
Samples: Lease Agreement
Representations and Covenants by the Company. The Company makes the following covenants and representations as the basis for the undertakings on its part herein contained:.
(a) The Company is, and at all times will be, is a limited liability company company, duly organized, validly formed and existing and in good standing under the laws of the State state of Arizona, and duly authorized and qualified to do business in the state of Kansas. The Company has, with lawful power and will at all times haveauthority to enter into this Lease, all requisite power to own acting by and through its property and conduct its business as now conducted and as presently contemplated, to execute and deliver this Lease and to perform its duties and obligations hereunderduly authorized members.
(b) The Company (i) shall maintain and preserve its existence as a limited liability company company, and maintain its authority to do business in the State and to operate the Project; and (ii) shall not initiate any proceedings of any kind whatsoever to dissolve or liquidate without (A) securing the prior written consent thereto of the Issuer and the Owners of all of the Outstanding Bonds and (B) making provision for the payment in full of the principal of and interest on the Bonds.
(c) To the Company’s knowledge, neither the execution and/or delivery of this Lease, the consummation of the transactions contemplated hereby or by the Indenture, nor the fulfillment of or compliance with the terms and conditions of this Lease contravenes in any material respect any provision of its articles of organization or its operating agreement, agreement or conflicts in any material respect with or results in a material breach of the terms, conditions or provisions of any mortgage, debt, agreement, indenture or instrument to which the Company is a party or by which it is bound, or to which it or any of its properties is subject, or would constitute a material default (without regard to any required notice or the passage of any period of time) under any of the foregoing, or would result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company under the terms of any mortgage, debt, agreement, indenture or instrument, or violates in any material respect any existing law, administrative regulation or court order or consent decree to which the Company is subject.
(d) This Lease constitutes a legal, valid and binding obligation of the Company enforceable in accordance with its terms.
(e) The Company agrees to operate and will operate the Project, or cause the Project to be operated, as a “facility,” as that term is contemplated in the Act, from the date of the Issuer’s acquisition of its leasehold interest in the Project to the end of the Term.
(f) The estimated total cost of the Project to be financed by the Series 2024 2019 Bonds, plus interest on the Series 2024 2019 Bonds during acquisition, construction, construction and equipping and furnishing of the Improvements, and expenses anticipated to be incurred in connection with the issuance of the Series 2024 2019 Bonds, will not be less than the aggregate face amount of the Series 2024 2019 Bonds funded pursuant to the Bond Purchase Agreementoutstanding at any time.
Appears in 1 contract
Samples: Lease Agreement
Representations and Covenants by the Company. The Company makes the following covenants and representations as the basis for the undertakings on its part herein contained:
(a) The Company is, and at all times will be, is a limited liability company company, duly organized, validly organized and existing and in good standing under the laws of the State of Kansas. The Company hasState, and will at all times haveis duly authorized and qualified to do business in the State, all requisite with lawful power and authority to own enter into this Lease, acting by and through its property and conduct its business as now conducted and as presently contemplated, to execute and deliver this Lease and to perform its duties and obligations hereunderduly authorized members.
(b) The Company shall (i) shall maintain and preserve its existence as a limited liability company and maintain its authority to do business in the State and to operate the Project; and (ii) shall not initiate any proceedings of any kind whatsoever to dissolve or liquidate without (A) securing the prior written consent thereto of the Issuer and the Owners of all of the Outstanding Bonds and (B) making provision for the payment in full of the principal of and interest on the Bonds.
(c) To the Company’s knowledge, neither the execution and/or delivery of this Lease, the consummation of the transactions contemplated hereby or by the Indenture, nor the fulfillment of or compliance with the terms and conditions of this Lease contravenes in any material respect any provision of its articles of organization or its operating agreement, or conflicts in any material respect with or results in a material breach of the terms, conditions or provisions of any mortgage, debt, agreement, indenture or instrument to which the Company is a party or by which it is bound, or to which it or any of its properties is subject, or would constitute a material default (without regard to any required notice or the passage of any period of time) under any of the foregoing, or would result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company under the terms of any mortgage, debt, agreement, indenture or instrument, or violates in any material respect any existing law, administrative regulation or court order or consent decree to which the Company is subject.
(d) This Lease constitutes a legal, valid and binding obligation of the Company enforceable in accordance with its terms.
(e) The Company agrees to operate and will operate the Project, or cause the Project to be operated, as a “facility,” as that term is contemplated in the Act, from the date of the Issuer’s acquisition of its leasehold interest in the Project to the end of the Term.
(f) The estimated total cost of the Project to be financed by the Series 2024 2021 Bonds, plus interest on the Series 2024 2021 Bonds during acquisition, construction, construction and equipping and furnishing of the Improvements, and expenses anticipated to be incurred in connection with the issuance of the Series 2024 2021 Bonds, will not be less than the aggregate face amount of the Series 2024 2021 Bonds funded pursuant to the Bond Purchase Agreement.
Appears in 1 contract
Samples: Lease
Representations and Covenants by the Company. The Company makes the following covenants and representations as the basis for the undertakings on its part herein contained:.
(a) The Company is, and at all times will be, is a limited liability company company, duly organized, validly formed and existing and in good standing under the laws of the State state of Kansas. The Company has, and will at all times haveis duly authorized and qualified to do business in the state of Kansas, all requisite with lawful power and authority to own enter into this Lease, acting by and through its property and conduct its business as now conducted and as presently contemplated, to execute and deliver this Lease and to perform its duties and obligations hereunderduly authorized members.
(b) The Company (i) shall maintain and preserve its existence as a limited liability company company, and maintain its authority to do business in the State and to operate the Project; and (ii) shall not initiate any proceedings of any kind whatsoever to dissolve or liquidate without (A) securing the prior written consent thereto of the Issuer and the Owners of all of the Outstanding Bonds and (B) making provision for the payment in full of the principal of and interest on the Bonds.
(c) To the Company’s knowledge, neither the execution and/or delivery of this Lease, the consummation of the transactions contemplated hereby or by the Indenture, nor the fulfillment of or compliance with the terms and conditions of this Lease contravenes in any material respect any provision of its articles of organization or its operating agreement, agreement or conflicts in any material respect with or results in a material breach of the terms, conditions or provisions of any mortgage, debt, agreement, indenture or instrument to which the Company is a party or by which it is bound, or to which it or any of its properties is subject, or would constitute a material default (without regard to any required notice or the passage of any period of time) under any of the foregoing, or would result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company under the terms of any mortgage, debt, agreement, indenture or instrument, or violates in any material respect any existing law, administrative regulation or court order or consent decree to which the Company is subject.
(d) This Lease constitutes a legal, valid and binding obligation of the Company enforceable in accordance with its terms.
(e) The Company agrees to operate and will operate the Project, or cause the Project to be operated, as a “facility,” as that term is contemplated in the Act, from the date of the Issuer’s acquisition of its leasehold interest in the Project to the end of the Term.
(f) The estimated total cost of the Project to be financed by the Series 2024 2021 Bonds, plus interest on the Series 2024 2021 Bonds during acquisition, construction, construction and equipping and furnishing of the Improvements, and expenses anticipated to be incurred in connection with the issuance of the Series 2024 2021 Bonds, will not be less than the aggregate face amount of the Series 2024 2021 Bonds funded pursuant to the Bond Purchase Agreementoutstanding at any time.
Appears in 1 contract
Samples: Lease
Representations and Covenants by the Company. The Company makes the following covenants and representations as the basis for the undertakings on its part herein contained:
(a) The Each of the entities constituting the Company is, and at all times will be, a limited liability company duly organized, validly existing and in good standing under the laws of the State of Kansas. The Company has, and will at all times haveis duly authorized and qualified to do business in the State, all requisite with lawful power and authority to own enter into this Lease, acting by and through its property and conduct its business as now conducted and as presently contemplated, to execute and deliver this Lease and to perform its duties and obligations hereunderduly authorized manager or managers.
(b) The Each entity constituting the Company (i) shall maintain and preserve its existence as a limited liability company and maintain its authority to do business in the State and to operate the Project; and (ii) shall not initiate any proceedings of any kind whatsoever to dissolve or liquidate without (A) securing the prior written consent thereto of the Issuer and the Owners of all of the Outstanding Bonds and (B) making provision for the payment in full of the principal of and interest on the Bonds.
(c) To the Company’s knowledge, neither the execution and/or delivery of this Lease, the consummation of the transactions contemplated hereby or by the Indenture, nor the fulfillment of or compliance with the terms and conditions of this Lease contravenes in any material respect any provision of its articles of organization or its operating agreement, or conflicts in any material respect with or results in a material breach of the terms, conditions or provisions of any mortgage, debt, agreement, indenture or instrument to which the Company is a party or by which it is bound, or to which it or any of its properties is subject, or would constitute a material default (without regard to any required notice or the passage of any period of time) under any of the foregoing, or would result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company under the terms of any mortgage, debt, agreement, indenture or instrument, or violates in any material respect any existing law, administrative regulation or court order or consent decree to which the Company is subject.
(d) This Lease constitutes a legal, valid and binding obligation of the Company enforceable in accordance with its terms.
(e) The Company agrees to operate and will operate the Project, or cause the Project to be operated, as a “facility,” as that term is contemplated in the Act, from the date of the Issuer’s acquisition of its leasehold interest in the Project to the end of the Term.
(f) The estimated total cost of the Project to be financed by the Series 2024 2023 Bonds, plus interest on the Series 2024 2023 Bonds during acquisition, construction, equipping and furnishing of the Improvements, and expenses anticipated to be incurred in connection with the issuance of the Series 2024 2023 Bonds, will not be less than the aggregate face amount of the Series 2024 2023 Bonds funded pursuant to the Bond Purchase Agreement.
Appears in 1 contract
Samples: Lease
Representations and Covenants by the Company. The Company makes the following covenants and representations as the basis for the undertakings on its part herein contained:
(a) The Company is, and at all times will be, a limited liability company duly organized, validly existing and in good standing under the laws of the State of Kansas. The Company has, and will at all times have, all requisite power to own its property and conduct its business as now conducted and as presently contemplated, to execute and deliver this Lease and to perform its duties and obligations hereunder.
(b) The Company (i) shall maintain and preserve its existence as a limited liability company and maintain its authority to do business in the State and to operate the Project; and (ii) shall not initiate any proceedings of any kind whatsoever to dissolve or liquidate without (A) securing the prior written consent thereto of the Issuer and the Owners of all of the Outstanding Bonds and (B) making provision for the payment in full of the principal of and interest on the Bonds.
(c) To the Company’s knowledge, neither the execution and/or delivery of this Lease, the consummation of the transactions contemplated hereby or by the Indenture, nor the fulfillment of or compliance with the terms and conditions of this Lease contravenes in any material respect any provision of its articles of organization or its operating agreement, or conflicts in any material respect with or results in a material breach of the terms, conditions or provisions of any mortgage, debt, agreement, indenture or instrument to which the Company is a party or by which it is bound, or to which it or any of its properties is subject, or would constitute a material default (without regard to any required notice or the passage of any period of time) under any of the foregoing, or would result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company under the terms of any mortgage, debt, agreement, indenture or instrument, or violates in any material respect any existing law, administrative regulation or court order or consent decree to which the Company is subject.
(d) This Lease constitutes a legal, valid and binding obligation of the Company enforceable in accordance with its terms.
(e) The Company agrees to operate and will operate the Project, or cause the Project to be operated, as a “facility,” as that term is contemplated in the Act, from the date of the Issuer’s acquisition of its leasehold interest in the Project to the end of the Term.
(f) The estimated total cost of the Project to be financed by the Series 2024 2023 Bonds, plus interest on the Series 2024 2023 Bonds during acquisition, construction, equipping and furnishing of the Improvements, and expenses anticipated to be incurred in connection with the issuance of the Series 2024 2023 Bonds, will not be less than the aggregate face amount of the Series 2024 2023 Bonds funded pursuant to the Bond Purchase Agreement.
Appears in 1 contract
Samples: Lease