Enhancement Facility definition
Examples of Enhancement Facility in a sentence
The obligations of the Corporation under this Indenture, and the liens, pledges, charges, trusts, covenants and agreements of the Corporation herein made or provided for, shall be fully discharged and satisfied as to any Demand Purchase Agreement, Credit Enhancement Facility or Swap Agreement in the manner and with the effect provided in the Supplemental Indenture providing for such Demand Purchase Agreement, Credit Enhancement Facility or Swap Agreement.
The Corporation may from time to time enter into or obtain the benefit of any Credit Enhancement Facility, any Demand Purchase Agreement or any Swap Agreement with respect to any Class A Notes or Class B Notes of any series; provided that (i) a Supplemental Indenture is entered into in accordance with the provisions of Section 8.01(i) hereof, and (ii) any such Credit Enhancement Facility, Demand Purchase Agreement or Swap Agreement satisfies any conditions specified in a prior Supplemental Indenture.
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, the Credit Enhancement Facility or the Demand Purchase Agreement by reason of which such Person is an Other Beneficiary.
Notwithstanding the foregoing, a cancellation under this Clause 7(6) shall not be required upon a cancellation by EFSF of the Existing Bank Recapitalisation Facility or the ECB Credit Enhancement Facility.
Other Obligations payable from the Retirement Account shall include reimbursement to any Credit Facility Provider for the Redemption Price or amount or prepayment paid on Class A Notes or Class B Notes from amounts paid by the Credit Facility Provider under a Credit Enhancement Facility.
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.
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.
The Issuer may from time to time, pursuant to a Supplemental Indenture, enter into or obtain the benefit of any Credit Enhancement Facility with respect to any Notes of any series or any Swap Agreement; provided that (a) a Rating Agency Confirmation is obtained with respect to any such Credit Enhancement Facility or Swap Agreement and (b) any such Credit Enhancement Facility or Swap Agreement satisfies any conditions specified in a prior Supplemental Indenture.
The obligations of the Issuer under this Indenture, and the liens, pledges, charges, trusts, covenants and agreements of the Issuer herein made or provided for, shall be fully discharged and satisfied as to any Credit Enhancement Facility or Swap Agreement in the manner and with the effect provided in the Supplemental Indenture providing for such Credit Enhancement Facility or Swap Agreement.