Representations by VRA. VRA represents to the Local Government as follows: (a) VRA is a duly created and validly existing public body corporate and political subdivision of the Commonwealth of Virginia vested with the rights and powers conferred upon it under the Act. (b) VRA has full right, power and authority to (i) issue, sell and deliver the Related Series of VRA Bonds, (ii) direct the Trustee to use a portion of the proceeds of the Related Series of VRA Bonds to purchase this Agreement from the Local Government as contemplated under the Related Supplemental Series Indenture and this Agreement and (iii) carry out and consummate all other transactions contemplated by this Agreement. (c) VRA has duly authorized, executed and delivered this Agreement, and when executed the Leases will constitute legal, valid and binding obligations of VRA enforceable against VRA in accordance with their respective terms.
Appears in 2 contracts
Samples: Local Lease Acquisition Agreement and Financing Lease, Prime Lease
Representations by VRA. VRA represents to the Local Government as follows:
(a) VRA is a duly created and validly existing public body corporate and political subdivision of the Commonwealth of Virginia vested with the rights and powers conferred upon it under the Act.
(b) VRA has full right, power and authority to (i) issue, sell and deliver the Related Series of 2019C VRA Bonds, (ii) direct the Trustee to use a portion of the proceeds of the Related Series of 2019C VRA Bonds to purchase this Agreement from the Local Government as contemplated under the Related Supplemental Series Indenture and this Agreement and (iii) carry out and consummate all other transactions contemplated by this Agreement.
(c) VRA has duly authorized, executed and delivered this Agreement, and when executed the Leases will constitute legal, valid and binding obligations of VRA enforceable against VRA in accordance with their respective terms.
Appears in 1 contract
Samples: Local Lease Acquisition Agreement and Amended and Restated Financing Lease
Representations by VRA. VRA represents to the Local Government as follows:
(a) VRA is a duly created and validly existing public body corporate and political subdivision of the Commonwealth of Virginia vested with the rights and powers conferred upon it under the Act.
(b) VRA has full right, power and authority to (i) issue, sell and deliver the Related Series of VRA Bonds, (ii) direct the Trustee to use a portion of the proceeds of the Related Series of VRA Bonds to purchase this Agreement from the Local Government as contemplated under the Related Supplemental Series Indenture and this Agreement and (iii) carry out and consummate all other transactions contemplated by this Agreement.
(c) VRA has duly authorized, executed and delivered this Agreement, and when executed the Leases will constitute legal, valid and binding obligations of VRA enforceable against VRA in accordance with their respective terms.
Appears in 1 contract
Samples: Local Lease Acquisition Agreement and Financing Lease