Collateral Mortgage Bonds definition
Examples of Collateral Mortgage Bonds in a sentence
Upon delivery of the Collateral Mortgage Bonds to the Administrative Agent under a Bond Delivery Agreement and at all times thereafter, the Collateral Mortgage Bonds will be “Outstanding” and the Administrative Agent will be the “Holder” of the Collateral Mortgage Bonds for all purposes of the Mortgage Indenture.
Upon delivery of the Collateral Mortgage Bonds to the Administrative Agent under the Bond Delivery Agreement and at all times thereafter, the Collateral Mortgage Bonds will be "Outstanding" and the Administrative Agent will be the "Holder" of the Collateral Mortgage Bonds for all purposes of the Second Indenture.
All the 4.25% Collateral Mortgage Bonds due 2023 delivered to the Company in accordance with this Section 213 shall be delivered by the Company to the Mortgage Bond Trustee for cancellation.
The Company shall cause all of the 2048 Collateral Mortgage Bonds shall be issued and registered in the name of the Trustee.
The Trustee shall have no duty to ascertain or inquire into or verify the performance or observance of any covenants, conditions or agreements on the part of the Company or the Mortgage Bond Trustee with respect to the 2047 Collateral Mortgage Bonds.
For the avoidance of doubt, any amounts received by the Trustee with respect to the 3.30% Collateral Mortgage Bonds due 2027 will be applied to satisfy any obligations under the 3.30% Senior Notes due 2027 in accordance with the Indenture and not any other Bonds outstanding under the Indenture.
As of the Closing Date, after giving effect to the issuance of the Collateral Mortgage Bonds, there will be $577,741,000 in aggregate principal amount of Mortgage Bonds outstanding.
The Trustee shall have no duty to ascertain or inquire into or verify the performance or observance of any covenants, conditions or agreements on the part of the Company or the Mortgage Bond Trustee with respect to the 4.65% Collateral Mortgage Bonds due 2028.
The Trustee will not be required to take any action that is contrary to applicable law or any provision of the Indenture, the 2041 Collateral Mortgage Bonds or the Mortgage Indenture or, that otherwise subjects it to liability.
Reference is made to the Indenture and the Mortgage Indenture for a description of the rights of the Trustee as holder of the 4.25% Collateral Mortgage Bonds due 2023, the property mortgaged and pledged, the nature and extent of the security and rights of the holders of the first mortgage bonds under the Mortgage Indenture and the rights of the Company under the Mortgage Indenture and the terms and conditions upon which the Senior Notes are secured.