Credit Enhancement Facility definition

Credit Enhancement Facility means, if and to the extent provided for in a Supplemental Indenture described in Section 8.1(i) hereof, with respect to Notes of one or more series of the same class, an insurance policy insuring, or a letter of credit or surety bond providing a direct or indirect source of funds for, the timely payment of principal of and interest on such Notes (but not necessarily principal due upon acceleration thereof under Section 6.2 hereof), and all agreements entered into by the Corporation or the Trustee with respect thereto.

Credit Enhancement Facility means an insurance policy insuring, or a letter of credit, surety bond or other financial instrument providing a direct or indirect source of funds for, the timely payment of principal of and interest on the Bonds of a Series or portion thereof (but not necessarily principal due upon acceleration thereof under the Master Indenture) and any related insurance or other agreement, as shall be designated pursuant to a Series Indenture with respect to such Series.

Credit Enhancement Facility means, if and to the extent provided for in a Supplemental Resolution, with respect to Bonds of one or more series, (1) an insurance policy insuring, or a letter of credit, surety bond, or other guaranty providing a direct or indirect source of funds for, the payment of principal of and interest on such Bonds (but not necessarily principal due upon acceleration of maturity) or (2) a letter of credit, standby purchase agreement, or similar instrument, providing for the purchase of such Bonds (or the Beneficial Ownership Interests therein) on a Tender Date, and in either case, all agreements entered into by the State or the Trustee and the Credit Facility Provider with respect thereto.

Examples of Credit Enhancement Facility in a sentence

• All rights of any Other Beneficiary under this Indenture to consent to or direct certain remedies, waivers, actions and amendments hereunder shall cease for so long as such Other Beneficiary is in default of any of its obligations or agreements under the Swap Agreement or the Credit Enhancement Facility by reason of which such Person is an Other Beneficiary.

• Moneys in the Retirement Account shall also be used for the reimbursement to any Credit Facility Provider for the payment of such amounts pursuant to a Credit Enhancement Facility.

• Any Supplemental Indenture providing for the issuance of any series of Notes, the payment of which is to be provided pursuant to or secured by a Credit Enhancement Facility, shall also provide for the creation of separate subaccounts within the Interest Account, the Principal Account and the Retirement Account.

• Any payment received pursuant to such Credit Enhancement Facility shall be deposited into such subaccounts, and moneys deposited therein shall be used only for the payment of Debt Service on Notes of such series, or for such other purposes as may be permitted by such Supplemental Indenture, upon the conditions set forth in such Supplemental Indenture.

• Notwithstanding the creation of such Accounts or subaccounts, moneys therein shall (except as provided in this Section with respect to amounts paid pursuant to a Credit Enhancement Facility and amounts set aside in an Escrow Account) be available for any purpose for which other moneys in the Fund of which such Account is a part or the Account of which such subaccount is a part, as the case may be, are authorized to be applied or used.

More Definitions of Credit Enhancement Facility

Credit Enhancement Facility means, if and to the extent provided for in a Supplemental Indenture (including a Supplemental Indenture described in Section 8.01(h) hereof), with respect to Notes of one or more series (a) an insurance policy insuring, or a letter of credit or surety bond or other instrument or agreement providing a direct or indirect source of funds for, the timely payment of principal of and interest on such Notes (but not necessarily principal due upon acceleration thereof under Section 6.02 hereof); or (b) a letter of credit, standby purchase agreement, or other instrument or agreement, providing for the purchase of such Notes on a Tender Date, or (c) any other arrangement as to which a Rating Agency Confirmation has been obtained, and in any case, all agreements entered into by the Issuer or the Trustee and the Credit Facility Provider with respect thereto.

Credit Enhancement Facility means, if and to the extent provided for in a Supplemental Resolution, with respect to Bonds of one or more series, (1) an insurance policy insuring, or a letter of credit, surety bond, or other guaranty providing a direct or indirect source of funds for, the payment of principal of and interest on such Bonds (but not necessarily principal due upon acceleration of maturity) or (2) a letter of

Credit Enhancement Facility means any facility or arrangement in terms of which the provider of such facility or obligor under the arrangement is obliged to absorb losses associated with -

Credit Enhancement Facility means any document, instrument or agreement entered into by any Person for the purpose of providing credit support for Securitization Transactions and Warehouse Facilities.

Credit Enhancement Facility means an insurance policy insuring, or a letter of credit or surety bond providing a direct or indirect source of funds for, the timely payment of principal of and interest on the Bonds of a Series or any portion thereof, as shall be designated pursuant to a Series Indenture with respect to such Series.

Credit Enhancement Facility means, at any time, the credit enhancement facility provided at such time by ILFC, in its capacity as Servicer under the Servicing Agreement, for the benefit of MSAF, pursuant to Section 4.01 of this Agreement.

Credit Enhancement Facility means, if and to the extent provided for in a Supplemental Indenture described in Section 8.1(h) hereof, with respect to Notes of one or more series (1) an insurance policy insuring, or a letter of credit or surety bond providing a direct or indirect source of funds for, the timely payment of principal of and interest on such Notes (but not necessarily principal due upon acceleration thereof under Section 6.2 hereof) or (2) a letter of credit, standby purchase agreement, or similar instrument, providing for the purchase of such Notes on a Tender Date, and in either case, all agreements entered into by the Issuer or the Trustee and the Credit Facility Provider with respect thereto.