Examples of Bond Purchase Drawing in a sentence
Unless otherwise directed by U.S. Required Lenders, the applicable U.S. L/C Issuer shall then deliver notice to the applicable Trustee prior to the fifth Business Day after the applicable Bond Purchase Drawing that the amount of such drawing will not be reinstated, if the applicable Bond Documents permit such notice; otherwise, the U.S. L/C Issuer may send notice of an event of default and a direction to cause a redemption of the applicable Bonds.
Unless otherwise directed by U.S. Required Lenders, the applicable U.S. L/C Issuer shall then deliver notice to the applicable Trustee prior to the fifth (5th) Business Day after the applicable Bond Purchase Drawing that the amount of such drawing will not be reinstated, if the applicable Bond Documents permit such notice; otherwise, the U.S. L/C Issuer may send notice of an event of default and a direction to cause a redemption of the applicable Bonds.
Bonds which are either (i) purchased with the proceeds of a Bond Purchase Drawing under the Credit Facility, for which drawing the Credit Facility Provider is immediately reimbursed with Available Moneys furnished by the Borrower in accordance with Section 4.4(c) hereof, or (ii) purchased with Available Moneys furnished by the Borrower, shall be deemed to have been redeemed and delivered to the Trustee for cancellation.
Provided, however, if a drawing is a Bond Purchase Drawing, and is made by 11:00 a.m., New York City time, on a Business Day, and conforms to the terms and conditions hereof, we shall pay you the amount specified, in immediately available funds, not later than 2:00 p.m. on the same Business Day.
Upon receipt by us or our agent of Bonds pledged in connection with any Bond Purchase Drawing pursuant to the Pledge and Security Agreement, the Stated Amount shall be automatically and irrevocably reinstated by the amount of such Bond Purchase Drawing.
Upon receipt by us or by the Trustee as our agent of Bonds pledged in connection with any Bond Purchase Drawing pursuant to Section 4.1 or 4.2 of the Indenture, the Stated Amount shall be automatically and irrevocably reinstated by the amount of such Bond Purchase Drawing, and we will send you written notice confirming such receipt and reinstatement.
Bonds, the purchase price of which shall have been paid by the Trustee from amounts realized from a Bond Purchase Drawing under the Credit Facility (or new Bonds executed and authenticated in lieu thereof), shall be registered in the name of the Credit Facility Provider, as pledgee, or otherwise upon the Credit Facility Provider’s written direction, and delivered to the Pledged Bond Custodian.