Examples of Enhancement Facility in a sentence
The particular form or forms of such demand provisions, the period or periods for payment of principal and interest after delivery of notice, the appointment of the agent for the Authority, the terms and provisions for the remarketing agreement, and the terms and provisions of the Enhancement Facility shall be as set forth in the applicable Supplemental Agreement.
If the Variable Rate Indebtedness shall not be resold or redelivered within a stated period, the agent for the Authority may be authorized to draw upon a previously executed Enhancement Facility for payment of interest and principal for a particular Series of Variable Rate Indebtedness to which such Enhancement Facility shall pertain.
Prior to the issuance of Variable Rate Indebtedness, the applicable Supplemental Agreement shall specify, without limitation, the interest rate calculation methods and any conversion features, and any Enhancement Facility which may be drawn upon to make principal and interest payments on the Variable Rate Indebtedness.
Amounts representing principal of Loan Repayments related to the 2017-I Loan received on or before the 20th day of any calendar month from HUD pursuant to an insurance claim with respect to the 2017-I Loan shall not be used to redeem Series 2017-I Bonds on the following Interest Payment Date pursuant to this Section 3.2 to the extent that Series 2017-I Bonds have been previously redeemed from amounts received pursuant to any Loan Payment Enhancement Facility with respect to such Loan Repayments.
The amount of the attendance incentive is to be added to the teacher’s contract to be paid biweekly.
Any payment made under an Enhancement Facility, to the Holders of the Subordinated Obligations having the benefit of such Enhancement Facility, by the appropriate obligor thereof shall be retained by such Holders for their own account, and no Holder of Senior Indebtedness is to have any right with respect to any such payment so made.