Examples of Debt Service Reserve Agreement in a sentence
No event has occurred and no condition exists which, upon the execution and delivery of this First Amendment or the Debt Service Reserve Agreement, would constitute an Event of Default on the part of the Governmental Unit under this First Amendment or the Debt Service Reserve Agreement.
Neither the execution and delivery of this First Amendment and the Debt Service Reserve Agreement by the Governmental Unit, nor compliance by the Governmental Unit with the obligations under such agreements, requires the approval of any regulatory body, or any other entity, which approval has not been obtained or which is not reasonably expected to be obtained.
Pursuant to the Act, as amended and supplemented from time to time, the Governmental Unit is authorized by the Act to enter into the transactions contemplated by this First Amendment and the Debt Service Reserve Agreement and to carry out its obligations hereunder and thereunder.
To the knowledge of the Governmental Unit, no litigation or proceeding is pending or threatened against the Governmental Unit affecting the right of the Governmental Unit to execute or deliver this First Amendment or the Debt Service Reserve Agreement or to comply with its obligations under this First Amendment or the Debt Service Reserve Agreement.
The Governmental Unit has taken all required action necessary to authorize the execution and delivery of this First Amendment and the Debt Service Reserve Agreement, and this First Amendment and the Debt Service Reserve Agreement constitute a legal, valid and binding special obligations of the Governmental Unit enforceable in accordance with their respective terms.
The Governmental Unit has duly authorized and approved the execution and delivery of this First Amendment, the Debt Service Reserve Agreement and the other documents related to the transaction.
Pursuant to the Debt Service Reserve Agreement, establish and maintain a debt service reserve fund with Lender equal to approximately three (3) months of debt service payments with respect to the Note as reasonably estimated by Lender, rounded upward to the nearest One Thousand Dollars ($1,000).
Peak shall be in compliance with its requirements under Section 11.4 (a) of the Master Credit Agreement and the referenced Debt Service Reserve Agreement by and among the parties to the Master Credit Agreement, all as referred to in Section 11.4 (a) of the Master Credit Agreement, as amended from time to time.
The Reserve Account shall be specifically governed by the Debt Service Reserve Agreement.
On the Closing Date, the EPR Parties and the Peak Parties will cause to be executed and delivered the Master Debt Service Reserve Agreement.