Support Facility - General. Pursuant to the Participation Agreement, the Company has obtained a Credit Facility and agrees to maintain a Liquidity Facility meeting the requirements of the Participation Agreement with respect to the Bonds at all times except during any Auction Rate Period, an Auction Rate-Inverse Rate Period or the Fixed Rate Period. A Liquidity Facility relating to the affected Bonds must be in effect prior to any Change in the Interest Rate Mode from an Auction Rate and a related Inverse Rate during an Auction Rate-Inverse Rate Period, or from an Auction Rate during an Auction Rate Period to another Adjustable Rate (other than a Change in the Interest Rate Mode to an Auction Rate Period or an Auction Rate-Inverse Rate Period or a conversion to a Fixed Rate). If at any time the Company obtains a Liquidity Facility with respect to the Bonds which were previously not entitled to the benefit thereof, the Company shall submit such Liquidity Facility to Mxxxx'x, S&P or such other Rating Agency as the Company may select for the purposes of obtaining a rating on such Bonds. Upon obtaining a rating or ratings on the basis of such Liquidity Facility the provisions of Sections 5.08 and 6.02 shall become applicable to such Bonds. The Trustee shall be furnished with a certified copy of any Liquidity Facility obtained pursuant to this Section 6.01 together with evidence of any rating or ratings obtained on the Bonds in connection therewith. Any Support Facility Issuer not located in New York State shall provide the Trustee with a list of holidays on which it is closed through the next succeeding January 1 at the beginning of the term of such Support Facility and by January 1 of each year thereafter.
Support Facility - General. VI-1 SECTION 6.02. Alternate Support Facility...............................VI-1 SECTION 6.03. Trustee not Responsible for Enforcement of Support Facility ...........................................................................VI-2
Support Facility - General. VI-1 SECTION 6.02. Alternate Support Facility .............................. VI-1 SECTION 6.03. Trustee not Responsible for Enforcement of Support Facility .............................................. VI-2 (ii) ARTICLE VII GENERAL TERMS AND PROVISIONS OF BONDS SECTION 7.01. Execution and Authentication of Bonds .................. VII-1 SECTION 7.02. Books of Registry ...................................... VII-1 SECTION 7.03. Transfer, Registration and Exchange of Bonds ........... VII-1 SECTION 7.04. Mutilated, Lost, Stolen, or Destroyed Bonds ............ VII-2 SECTION 7.05. Temporary Bonds ........................................ VII-3 SECTION 7.06. Disposition of Bonds ................................... VII-4 ARTICLE VIII ESTABLISHMENT OF THE PROJECT FUND
Support Facility - General. (1) The Company has obtained the Initial Support Facility. Pursuant to the Participation Agreement, the Company has agreed not to request that the interest rate mode applicable to the Bonds be adjusted to an Adjustable Rate other than an Auction Rate unless there shall be in effect, prior to the applicable Change in the Interest Rate Mode, one or more Support Facilities which (i) meet the requirements of this Article VI and (ii) permit the Bonds to be rated at least "A" by S&P, "A" by Xxxxx'x or "A" by Fitch or its equivalent by any nationally recognized rating agency. The Company has further agreed to maintain a Liquidity Facility meeting the requirements of the Participation Agreement with respect to the Bonds at all times, except with respect to Bonds bearing interest at an Auction Rate or a Fixed Rate. A Liquidity Facility also must be in effect prior to (i) any Change in the Interest Rate Mode from an Auction Rate to another Adjustable Rate, and (ii) any Change in the Interest Rate Mode from a Fixed Rate to an Adjustable Rate (other than a Change in the Interest Rate Mode to an Auction Rate Period). The Trustee shall be furnished with a certified copy of any Support Facility obtained pursuant to this Section 6.01. Any Support Facility Issuer not located in New York State shall provide the Trustee with a list of holidays on which it is closed through the next succeeding January 1 at the beginning of the term of such Support Facility and by January 1 of each year thereafter.
Support Facility - General. (1) Pursuant to the Participation Agreement, the Company has agreed not to request that the interest rate mode applicable to the Bonds be adjusted to an Adjustable Rate or a Fixed Rate unless on the effective date of the applicable Change in the Interest Rate Mode the Bonds to be converted shall be rated at least “A” by S&P or “A2” by Xxxxx’x or “A” by Fitch or an equivalent rating by any nationally recognized rating agency. Subject to the requirements of the Participation Agreement, such rating of the Bonds may, but is not required to, be achieved by obtaining a Support Facility which meets the requirements of this Article VI. The Company has further agreed to maintain a Liquidity Facility meeting the requirements of the Participation Agreement with respect to the Bonds at all times, except with respect to Bonds bearing interest at an Auction Rate, a Fixed Rate or a Term Rate for a Calculation Period in excess of thirteen months. A Liquidity Facility also must be in effect on or prior to the effective date of any Change in the Interest Rate Mode from an Auction Rate to another Adjustable Rate (other than a Change in the Interest Rate Mode to an Auction Rate or to a Term Rate Period in excess of thirteen months). The Trustee shall be furnished with a certified copy of any Support Facility obtained pursuant to this Section 6.01. Any Support Facility Issuer not located in New York State shall provide the Trustee with a list of holidays on which it is closed through the next succeeding January 1 at the beginning of the term of such Support Facility and by January 1 of each year thereafter.
Support Facility - General. 54 Section 6.02. Support Facility - Delivery of an initial Liquidity Facility and Alternate Support Facility............................................................................54 Section 6.04. Provisions with respect to the Bond Insurer.................................................55 Section 6.04. Rights of Credit Facility Issuer............................................................57 ARTICLE VII
