Bond Covenants definition

Bond Covenants means the covenants that are required in connection with the issuance of the Bonds.
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Bond Covenants means those covenants of the Agency regarding the tax exempt financing of the Public Parking Facilities referenced in Article VI of the Parking Management Plan, and the advice of Agency’s bond counsel in the interpretation of applicable tax exempt covenants and restrictions.
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Bond Covenants means contractual obligations set forth in a bond contract. Covenants commonly made in connection with a bond issue may include covenants to charge fees sufficient to provide required pledged revenues (called a “rate covenant”); to maintain casualty insurance on the project; to complete, maintain and operate the project; not to sell or encumber the project; not to issue parity bonds or other indebtedness unless certain tests are met (“additional bonds” or “additional indebtedness” covenant); and not to take actions that would cause tax- exempt interest on the bonds to become taxable or otherwise become arbitrage bonds (“tax covenants”). A covenant whereby a party is affirmatively obligated to undertake a duty in order to protect the interests of bondholders (e.g., to maintain insurance) is referred to as an “affirmative” or “protective covenant.” A covenant whereby the issuer obligates itself to refrain from performing certain actions (e.g., not to sell the project) is referred to as a “negative covenant.”
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Examples of Bond Covenants in a sentence

  • Warner, On Financial Contracting: An Analysis of Bond Covenants, 7 J.

  • Tenant agrees that it will not use the Premises or Transfer, assign or sublease the Premises, or take or omit to take any other action, in each case in any manner that breaches the Bond Covenants.

  • Bond Covenants: The Port’s bond covenants require the District to maintain certain reserve accounts.

  • The Reserve Fund Deposits and Withdrawals shall consist of the annual sum required to create and maintain Reserve Fund Levels consistent with Bond Covenants requirements and the City Utility Financial Policy.

  • Warner, On Financial Contracting: An Analysis of Bond Covenants 17 J.

  • Failure to meet Bond Covenants, major deviations from construction schedule targets, failure to meet performance measures, poor workmanship and safety practices were among the possible triggers discussed.

  • Bond Covenants for a Utility Local Improvement Districts (ULID) required customers pay for service whether or not they are connected to the District’s system.

  • As required by our Bond Covenants, on an annual basis the South Jersey Port is required to do a rate study that evaluates our rates, fees and tariffs compared to our competitors in the region.

  • Bae et al., Event Risk Bond Covenants, Agency Costs of Debt and Equity, and Stockholder Wealth, 23 FIN.

  • Xxxxxxxxx, 2001, The Geography of Investment: Informed Trading and Asset Prices, Xxxxxx, X., 1991, Event Risk: An Analysis of Losses to Bondholders and 'Super Poison Put' Bond Covenants, Xxxxxx, X., and X.


More Definitions of Bond Covenants

Bond Covenants. Trustor’s agreement, pursuant to the Bond Fund Contract, to complete the Project and maintain the Development in compliance with the following conditions: 1.8.1. All units in the Development shall be used to house Qualified Homeless Veterans for the “Affordability Period” for the individual unit. The Affordability Period for an Existing Unit shall be for a period of thirty (30) years from the date of the Bond Fund Contract. The Affordability Period for a New Unit shall be for a period of thirty (30) years from the date of first occupancy of that unit. The Affordability Period shall remain in full force and effect regardless of any change(s) in ownership of the Property.
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Related to Bond Covenants

  • Indenture Event of Default means an "Event of Default" as defined in the Indenture.

  • Suspended Covenants has the meaning assigned to such term in Section 4.19.

  • Tax Covenant means the covenant relating to Tax set out in Schedule 9;

  • Affirmative Covenants The following affirmative covenants, among others, if any, to be negotiated in the Senior Facilities Documentation, will apply (to be applicable to the Borrower and its restricted subsidiaries), subject to customary (consistent with the Documentation Precedent) and other baskets, exceptions and qualifications to be agreed upon: maintenance of corporate existence and rights; performance and payment of obligations; delivery of annual and quarterly consolidated financial statements (accompanied by customary management discussion and analysis and (annually) by an audit opinion from nationally recognized auditors that is not subject to any qualification as to scope of such audit or going concern) (other than solely with respect to, or resulting solely from an upcoming maturity date under any series of indebtedness occurring within one year from the time such opinion is delivered) (with extended time periods to be agreed for delivery of the first annual and certain quarterly financial statements to be delivered after the Closing Date) and an annual budget (it being understood that the public REIT reporting that includes the Borrower shall satisfy the Borrower’s reporting obligations so long as it includes a consolidating income statement and balance sheet for the Borrower); delivery of notices of default and material adverse litigation, ERISA events and material adverse change; maintenance of properties in good working order; maintenance of books and records; maintenance of customary insurance; commercially reasonable efforts to maintain ratings (but not a specific rating); compliance with laws; inspection of books and properties; environmental; additional guarantors and additional collateral (subject to limitations set forth under the captions “Guarantees” and “Security”); further assurances in respect of collateral matters; use of proceeds; and payment of taxes.

  • Covenants means the covenants set forth in Section 4 of this Agreement.

  • Debenture Event of Default means an "Event of Default" as defined in the Indenture.

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Negative Covenants The Postpetition Financing Documents shall contain negative covenants of the Borrower acceptable to the Lender.

  • Covenant Trigger Period means the period (a) commencing on the day that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $20,000,000 and (b) continuing until, at all times thereafter for a period of 30 consecutive days during which, (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $20,000,000.

  • Maintenance Covenant A covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) during each reporting period, that exists regardless of whether or not such borrower has taken any specified action and includes a covenant that applies only when the related loan is funded.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • Deed of Covenant means, in relation to a Ship and if required by the laws of the Approved Flag State, a deed of covenant collateral to the Mortgage on that Ship and creating charges over (inter alia) that Ship, her Earnings, her Insurances and any Requisition Compensation in the Agreed Form;

  • Guarantee Test(s means the test(s) specified in the Procuring Entity's Requirements to be carried out to ascertain whether the Facilities or a specified part thereof is able to attain the Functional Guarantees specified in the Appendix to the Contract Agreement titled Functional Guarantees, in accordance with the provisions of GCC Sub-Clause25.2 (Guarantee Test) hereof.

  • Environmental covenant means a servitude arising under an environmental response project that imposes activity and use limitations.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Master Servicer Event of Default One or more of the events described in Section 7.01.

  • Servicer Event of Default One or more of the events described in Section 7.01.

  • Covenant Suspension Event has the meaning assigned to it in Section 3.22(b).

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • NIMs Insurer Default As defined in Section 10.13.

  • Transfer fee covenant means a declaration or covenant purporting to affect real property which requires or purports to require the payment of a transfer fee to the declarant or other person specified in the covenant or declaration, or to their successors or assigns, upon a subsequent transfer of an interest in the real property.

  • Collateral and Guarantee Requirement means, at any time, the requirement that:

  • Financial Covenants means the covenants set forth in Section 6.2.

  • Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.