Other Obligated Person definition

Other Obligated Person means a Person that is a mortgagor with respect to at least 20% in aggregate principal amount of the Mortgage Loans held under the Indenture.

Other Obligated Person means any Political Subdivision (as defined in the General Bond Resolution) which has entered into one or more Loan Agreements (as defined in the General Bond Resolution) with the Authority under the General Bond Resolution, the aggregate outstanding principal balance of which equals or exceeds 20% of the aggregate outstanding principal amount of Capital Financing Program Bonds; provided that any such Political Subdivision shall no longer be an Other Obligated Person on such date, if any, as the aggregate principal balance under Loan Agreements of such Political Subdivision under the General Bond Resolution are less than 20% of the then aggregate outstanding principal amount of Capital Financing Program Bonds.

Examples of Other Obligated Person in a sentence

• Based upon the objective criteria specified in the definition of Other Obligated Person, the Board concludes that no Borrower eligible to participate in the Program would be an Other Obligated Person.

• The Board agrees not to permit the assumption of any Mortgage Loan that would cause any Person to become an Other Obligated Person.

• The Governing Board of the Department agrees not to permit the assumption of any Mortgage Loan that would cause any Person to become an Other Obligated Person.

• Based upon the objective criteria specified in the definition of Other Obligated Person, the Governing Board of the Department concludes that no Borrower eligible to participate in the Program would be an Other Obligated Person.

• The Governing Board of the Department hereby determines that an Other Obligated Person would be an “obligated person” (as defined in Rule 15c2-12 (the “Rule”)), for whom financial information and operating data would be presented in any final official statement relating to the Series 2019A Bonds had such Person been known at the time of the offering thereof.

• The Board hereby determines that an Other Obligated Person would be an “obligated person” (as defined in Rule 15c2-12 (the “Rule”)), for whom financial information and operating data would be presented in any final official statement relating to the 2022 Series A Bonds had such Person been known at the time of the offering thereof.

• The Board hereby determines that an Other Obligated Person would be an “obligated person” (as defined in Rule 15c2-12 (the “Rule”)) for whom financial information and operating data would be presented in any final official statement relating to the 2021 SeriesB Bonds had such Person been known at the time of the offering thereof.

• In the event the audited financial statements of the Authority or Other Obligated Person are not available when the Annual Report is due, the Authority may submit its audited financial statements at a later date, provided that unaudited financial statements are submitted by the above-specified deadline and that the audited financial statements are submitted as soon as practicable after they become available.

• The Board hereby determines that an Other Obligated Person would be an “obligated person” (as defined in Rule 15c2-12 (the “Rule”)), for whom financial information and operating data would be presented in any final official statement relating to the Series 2021A Bonds had such Person been known at the time of the offering thereof.

• The Board hereby determines that an Other Obligated Person would be an “obligated person” (as defined in Rule 15c2-12 (the “Rule”)) for whom financial information and operating data would be presented in any final official statement relating to the 2020 Series B Bonds had such Person been known at the time of the offering thereof.