Security for the Bonds. The obligations of the Company under this Loan Agreement, including specifically the obligation to pay Installment Loan Payments and Administrative Expenses and its obligations under Article VI hereof shall be direct general obligations of the Company. Prior to or simultaneously with the issuance of the Bonds, the Issuer will assign to the Trustee under the terms of the Indenture all of the Issuer's right, title, and interest in and to this Loan Agreement including specifically the Installment Loan Payments but excepting all Unassigned Issuer's Rights.
Security for the Bonds. The Bonds will be issued under and will be entitled to the benefit of and secured by that certain Restated Indenture of Mortgage, Deed of Trust, Security Agreement and Financing Statement dated as of November 20, 2007 (the “Restated Indenture”) between the Company and Xxxxx Fargo Bank, National Association (the “Indenture Trustee”), as amended by that First Supplemental Indenture dated as of September 3, 2009 (the “First Supplemental Indenture”) and as to be supplemented and amended by a Second Supplemental Indenture to be dated as of October 1, 2014 (the “Second Supplemental Indenture”), which will be substantially in the form attached hereto as Exhibit 2.2. The Restated Indenture, as supplemented by the First Supplemental Indenture and the Second Supplemental Indenture, is hereinafter referred to as the “Indenture.” The Bonds will be substantially in the form set forth in the Second Supplemental Indenture and will be dated the date of issuance thereof, will be in the amount of $100,000 or a multiple of $1,000 in excess thereof, will bear interest on the unpaid principal amount thereof from the date of the Bonds at the rate of 4.53% per annum, payable semiannually on the twentieth day of each April and October in each year, commencing on April 20, 2015, until the principal amount thereof becomes due and payable, and will bear interest on overdue principal (including any optional prepayment of principal) and Make‑Whole Amount, if any, and (to the extent legally enforceable) on any overdue installment of interest at the Overdue Rate, whether by acceleration or otherwise, until paid, and will be expressed to mature on October 20, 2044. Interest on the Bonds will be computed on the basis of a 360‑day year consisting of twelve 30‑day months. The Indenture creates and will create a first mortgage Lien on and a first security interest in the property and property rights of the Company described therein as being subjected to the Lien thereof (subject to Permitted Encumbrances as therein defined), except such property and property rights as may have been released from the Lien thereof in accordance with the terms thereof.
Security for the Bonds. As security for the Bonds, the Township assigns all of its right, title and interest in the Pledged Annual Service Charge received, including interest, penalties and costs of collection, to the payment of the Bond, provided however, that the Township shall only be required to apply to the Bond repayment such portion of the Pledged Annual Service Charge as is necessary to make payments due under the Bond Agreement, and in no event shall the Township be required to apply any amount in excess of the Pledged Annual Service Charge. The Entity hereby acknowledges and consents to such assignment and acknowledges that the assignment is critical to the provision of security for the Bonds.
Security for the Bonds. The Bonds are general obligations of the District, and the Board of Supervisors of the County has the power and is obligated to levy ad valorem taxes upon all property within the District subject to taxation without limitation of rate or amount, for the payment of the Bonds and the interest thereon, in accordance with and subject to Sections 15250 and Section 15252 of the California Education Code. The principal of and interest and redemption premium (if any) on the Bonds shall not constitute a debt of the County, the State of California, or any of its political subdivisions other than the District, or any of the officers, agents or employees thereof, and neither the County, the State of California, any of its political subdivisions nor any of the officers, agents or employees thereof shall be liable thereon.
Security for the Bonds. The obligations of the Company under this Agreement, including specifically the obligation to make Installment Payments as provided in Sections 5.01, 5.03 and 5.04 hereof, shall be direct general obligations of the Company. Prior to or simultaneously with the issuance of the Bonds, the Issuer will assign to the Trustee under the terms of the Indenture all of the Issuer's right, title, and interest in and to the Installment Payments and certain other rights under this Agreement as provided in the Indenture.
Security for the Bonds. As security for the Bonds, the Township assigns all of its right, title and interest in forty-five percent (45%) of the Annual Service Charge received, including interest, penalties and costs of collection, to the Trustee (the “Pledged Annual Service Charge”), provided however, that the Township shall only be required to pay over to the Trustee such portion of the Pledged Annual Service Charge as is necessary to make payments due under the Indenture, and in no event shall the Township be required to pay over to the Trustee any amount in excess of the Pledged Annual Service Charge. Each Owner hereby acknowledges and consents to such assignment and acknowledges that the assignment is critical to the provision of security for the Bonds.
Security for the Bonds. (i) Pursuant to the RAB Law, specifically N.J.S.A. 40A:12A-67(c), and as security for the Bonds, the Annual Service Charge shall be pledged to the repayment of the Bonds.
(ii) Pursuant to the RAB Law, specifically N.J.S.A. 40A:12A-67(c), and other applicable law, the Annual Service Charge shall not be included within the general funds of the Borough. The Borough’s pledge and assignment of the Annual Service Charge shall be a limited obligation of the Borough payable to the extent of payments received from the Entity and shall not constitute a general obligation of the Borough. The Borough has no obligation whatsoever to make any payments of the Annual Service Charge to the extent that the Annual Service Charge or any portion thereof is not paid by the Entity.
(iii) It is hereby expressly understood by the Parties that under no circumstances shall the Borough be required to (a) purchase, or otherwise fund, any tax lien, tax sale certificate, or other mechanism for the enforcement of the Annual Service Charge, the sole obligation of the Borough being to undertake the sale of the tax liens in the same manner, and at the same time, as generally applicable for unpaid taxes due and owing to the Borough, subject to all applicable laws (including bankruptcy laws) or (b) make payment of any unpaid Annual Service Charge.
Security for the Bonds. The Bonds shall be secured by special assessments imposed on the specially benefitting properties in the Districts.
Security for the Bonds. The Improvement Area #3 Bonds, as to both principal and interest, are and shall be equally and ratably secured by and payable from a first lien on and pledge of the Trust Estate. The lien on and pledge of the Pledged Revenues shall be valid and binding and fully perfected from and after the Closing Date, without physical delivery or transfer of control of the Pledged Revenues, the filing of this Master Indenture or any other act; all as provided in Texas Government Code, Chapter 1208, as amended, which applies to the issuance of the Improvement Area #3 Bonds and the pledge of the Pledged Revenues granted by the City under this Master Indenture, and such pledge is therefore valid, effective and perfected. If Texas law is amended at any time while the Improvement Area #3 Bonds are Outstanding such that the pledge of the Pledged Revenues granted by the City under this Master Indenture is to be subject to the filing requirements of Texas Business and Commerce Code, Chapter 9, as amended, then in order to preserve to the registered owners of the Bonds the perfection of the security interest in said pledge, the City agrees to take such measures as it determines are reasonable and necessary under Texas law to comply with the applicable provisions of Texas Business and Commerce Code, Chapter 9, as amended, and enable a filing to perfect the security interest in said pledge to occur.
Security for the Bonds. The obligations of the Company under this Agreement, including specifically the obligation to make Loan Payments as provided in Sections 5.01 and 5.03 hereof, shall be direct general obligations of the Company. As additional security for the payments of the Loan Payments and as further consideration for the loan made hereunder, the Guarantee Agreement whereunder the Company and the Subsidiary Guarantors have guaranteed payment, when due, of the principal of, redemption premium, if any, and interest on the Bonds and the Collateral Trust Agreement have been executed and will be delivered simultaneously herewith. Prior to or simultaneously with the issuance of the Bonds, the Issuer will assign to the Trustee under the terms of the Indenture all of the Issuer’s right, title, and interest in and to the Loan Payments and certain other rights under this Agreement as provided in the Indenture.
