Common use of Support Facility - General Clause in Contracts

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. Pursuant to the Participation Agreement, the Company has obtained a Credit Facility 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 agrees (ii) permit the Bonds to be rated at least "A" by S&P or "A" by Moody's 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 times, except during any with respect to Bonds bearing interest at an Auction Rate Period, an Auction or a Fixed Rate-Inverse Rate Period or the Fixed Rate Period. A Liquidity Facility relating to the affected Bonds also must be in effect prior to (i) 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 , and (ii) any time change in the Company obtains Interest Rate Mode from a Liquidity Facility with respect Fixed Rate to an Adjustable Rate (other than a Change in the Bonds which were previously not entitled Interest Rate Mode 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 Bondsan Auction Rate Period). The Trustee shall be furnished with a certified copy of any Liquidity Support Facility obtained pursuant to this Section 6.01 together with evidence of any rating or ratings obtained on the Bonds in connection therewith6.01. 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. Pursuant to the Participation Agreement, the Company has obtained a Credit Facility 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 agrees (ii) permit the Bonds to be rated at least "A" by S&P or "A" by Xxxxx'x 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 times, except during any with respect to Bonds bearing interest at an Auction Rate Period, an Auction or a Fixed Rate-Inverse Rate Period or the Fixed Rate Period. A Liquidity Facility relating to the affected Bonds also must be in effect on or prior to the effective date of (i) 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, 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 or an Auction Rate-Inverse Rate Period or a conversion to a Fixed RatePeriod). If at The Bond Insurer shall have the right to consent to the selection of the issuer of any time the Company obtains a Liquidity Facility with respect and the terms thereof. Such consent shall be deemed to be given if 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 BondsBond Insurer unreasonably withholds consent. The Trustee shall be furnished with a certified copy of any Liquidity Support Facility obtained pursuant to this Section 6.01 together with evidence of any rating or ratings obtained on the Bonds in connection therewith6.01. 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. Pursuant to the Participation Agreement, as long as the Policy is in effect, the Company has obtained agreed not to request that the interest rate mode applicable to the Bonds be adjusted to an Adjustable Rate or a Credit Fixed Rate unless on the effective date of the applicable Change in the Interest Rate Mode the Bonds shall receive a long-term rating of at least "AAA" by S&P and "AAA" by Moody's, and a short-term rating of at least "A-1+" by S&P and "VMIG 1" by Moody's, or an equivalent rating by any nationally recognized rating agency, as applicable. If the Policy is not in effect, the Company may 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 shall receive a long-term rating of at least "A" by S&P and "A2" by Moody's or "A" by Fitch or an equivalent rating by any nationally recognized rating agency, as applicable. Such rating of the Bonds may, but is not required to, be achieved by obtaining a Support Facility and agrees 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 times, except during any Auction Rate Period, with respect to Bonds bearing interest at an Auction Period Rate or a Fixed Rate-Inverse Rate Period or the Fixed Rate Period. A Liquidity Facility relating to the affected Bonds also must be in effect on or prior to the effective date of any Change in the Interest Rate Mode from to 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 RatePeriod). If at Bond Insurer consent shall be required for the selection of the issuer of any time the Company obtains a Liquidity Facility with respect to and the Bonds which were previously not entitled to the benefit terms 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 Support Facility obtained pursuant to this Section 6.01 together with evidence of any rating or ratings obtained on the Bonds in connection therewith6.01. 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.