Alternate Credit Facility definition

Alternate Credit Facility means any irrevocable direct pay letter of credit, insurance policy or similar credit enhancement or support facility for the benefit of the Trustee, the terms of which Alternate Credit Facility shall in all respects material to the registered owners of the Bonds be the same (except for the term set forth in such Alternate Credit Facility) as those of the Letter of Credit.

Alternate Credit Facility means an Alternate Credit Facility as defined in the Indenture.

Alternate Credit Facility shall have the meaning assigned to such term in the Indenture.

Examples of Alternate Credit Facility in a sentence

• The Authority agrees that any termination of the Letter of Credit as a result of the provision of any Alternate Credit Facility will require, as a condition thereto, that the Authority or the issuer of any Alternate Credit Facility shall provide funds on the date of such termination or provision, which funds will be sufficient to pay in full at the time of termination of the Letter of Credit all Payment Obligations due and owing to the Bank hereunder.

• Subject to the conditions of this Section 7.03, the Company may, at its option, provide for the delivery to the Trustee of an Alternate Credit Facility having administrative terms acceptable to the Trustee.

• Such notice shall be given at least thirty (30) Business Days prior to the delivery of the Alternate Letter of Credit or Alternate Credit Facility to the Trustee.

• We acknowledge the following addenda and have included their provisions in this proposal.Addendum No. Dated Addendum No. Dated Addendum No. Dated Addendum No. Dated BASE BID: The undersigned proposes to complete all work as required per the Specifications, for a Lump Sum of:Bid (pre-tax): Dollars ($ ).Taxes: Dollars ($ ).Cumulative Bid: Dollars ($ ).

• At any time that the Letter of Credit (and if at such time there shall be no Pledged Bonds) or any Alternate Credit Facility is not in effect and the Bank Group shall have been paid all amounts owed them under the Reimbursement Agreement (as evidenced by a written certificate of the Bank Agent delivered to the Trustee to such effect), all references herein to the Bank or the Bank Agent or the Bank Group or the Provider, as the case may be, shall be deemed ineffective.

More Definitions of Alternate Credit Facility

Alternate Credit Facility means a Credit Facility issued as the successor to the Letter of Credit as provided in the Trust Indenture. Such Credit Facility may be an insurance policy.]

Alternate Credit Facility means a letter of credit or similar obligation, arrangement, or instrument issued or provided by a bank, insurance company, or other financial institution that provides (to the extent and subject to the terms and conditions set forth therein) credit enhancement for payment of principal of and interest on the 2015 GR-5 Notes when the same become due and payable during the term thereof and is issued in substitution for the Letter of Credit in accordance with, and pursuant to, Section 6.3 hereof, as the same may be amended or supplemented from time to time.

Alternate Credit Facility means an irrevocable letter of credit or other credit facility described in Section 6.03(b)(1) hereof delivered pursuant to such Section in substitution for a Letter of Credit, as extended or amended from time to time.

Alternate Credit Facility has the meaning set forth in Appendix A to the Ordinance.

Alternate Credit Facility has the meaning set forth in the Trust Agreement.

Alternate Credit Facility means any credit facility, including any instruments accompanying or relating to such Alternate Credit Facility delivered to the Trustee in connection therewith, provided in accordance with Section 4.5 of this Agreement.

Alternate Credit Facility means any direct pay letter of credit or other credit enhancement or support facility that has terms which are the same in all material respects (except for the term and maximum interest rate but including coverage of accrued interest on the Bonds for 98 days if the Bonds bear interest at the Weekly Rate or for 183 days if the Bonds bear interest at the Semi-Annual Rate or the Long-Term Rate) as the then current Credit Facility and (A) shall have a term of not less than one year, (except if the Long-Term Rate shall then be in effect, the term of such Alternate Credit Facility shall not expire prior to (a) the first par redemption date plus 15 days or (b) the first redemption date plus 15 days if the Alternate Credit Facility covers the redemption premium) (B) shall be issued by a bank, a trust company or other financial institution or credit provider, and (C) with respect to which the Trustee shall have received the opinions required by Section 408(F) of the Indenture.