Indenture Funds definition
Examples of Indenture Funds in a sentence
Money and investments from time to time on deposit in, or forming a part of, the Indenture Funds.
If no Bank Default exists, no portion of the Indenture Funds or Trust Estate may be distributed to the Corporation pursuant to Section 9.2 or Section 11.3 without consent of the Bank unless the Bank’s Letter of Credit has been cancelled and all indebtedness of the Corporation to the Bank has been fully paid.
PROVIDED, HOWEVER, that money and investments in the Indenture Funds may be applied for the purposes and on the terms and conditions set forth in this Indenture.
After all Indenture Indebtedness has been Fully Paid, any money or investments remaining in the Indenture Funds or otherwise constituting part of the Trust Estate shall, subject to the requirements of Section 15.11, be paid to the Corporation if no Loan Default exists.
Such investments shall mature in such amounts and have maturity dates or be subject to redemption at the option of the holder thereof on or prior to maturity as needed for the purposes of such Indenture Funds, but in no event shall such investments mature more than 180 days after the date acquired.
By executing this Agreement, Holder hereby transfers to the Company any and all rights with respect to the Indenture Funds and irrevocably waives any rights relating to such Indenture Funds.
Upon receipt of the Indenture Funds, the Company shall deliver to the Holder, by wire transfer of immediately available funds, an amount equal to Holder’s Fees.
If any officer of the Securities Intermediary charged with administering the Indenture Funds on a day-to-day basis obtains actual knowledge that any Person has asserted any lien, encumbrance or adverse claim (including any writ, garnishment, judgment, warrant of attachment, execution or similar process) against any Indenture Fund or in any security entitlement or financial asset carried therein or credited thereto, the Securities Intermediary will promptly notify the Issuer and the Trustee thereof.
If no Loan Default exists, the Corporation may, on behalf of the Issuer, direct the investment of Indenture Funds pursuant to Article 9.
Upon the payment in full of the principal of and interest on all series of Bonds such that no Bonds are Outstanding, and after payment to the Trustee of all amounts, if any, due to the Trustee in respect of this Indenture and the other Transaction Documents, all amounts held in the Indenture Funds shall be transferred to the Partnership upon its written request.