Purchase Drawing definition

Purchase Drawing means a Drawing under the Letter of Credit to pay the purchase price of the Bonds following the failure to remarket any Bonds as set forth in Section 3.02 of the Indenture.

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Purchase Drawing. Principal Drawing," and "Interest Drawing."

Purchase Drawing has the meaning assigned to such term in the Letter of Credit.

Examples of Purchase Drawing in a sentence

• Unless otherwise directed by Required Revolver Lenders, the applicable L/C Issuer shall then deliver notice to the applicable Trustee prior to the fifth Business Day after any such Bond Purchase Drawing that the amount of such drawing will not be reinstated.

• Unless otherwise directed by U.S. Required Lenders, the applicable U.S. L/C Issuer shall then deliver notice to the applicable Trustee prior to the fifth Business Day after the applicable Bond Purchase Drawing that the amount of such drawing will not be reinstated, if the applicable Bond Documents permit such notice; otherwise, the U.S. L/C Issuer may send notice of an event of default and a direction to cause a redemption of the applicable Bonds.

• The Premium Component shall be reduced immediately following our honoring any draft drawn hereunder to pay premium on Eligible Bonds in connection with a Redemption/Mandatory Purchase Drawing, by an amount equal to the amount of such draft.

• Unless otherwise directed by U.S. Required Lenders, the applicable U.S. L/C Issuer shall then deliver notice to the applicable Trustee prior to the fifth (5th) Business Day after the applicable Bond Purchase Drawing that the amount of such drawing will not be reinstated, if the applicable Bond Documents permit such notice; otherwise, the U.S. L/C Issuer may send notice of an event of default and a direction to cause a redemption of the applicable Bonds.

• Each Purchase Drawing honored by us hereunder shall automatically reduce the Principal Component and the amount available to be drawn hereunder by subsequent Purchase Drawings or Principal Drawings by an amount equal to the amount of such Purchase Drawing.

• Each drawing on a Special Letter of Credit other than a Purchase Drawing and the reimbursement obligation of the Borrower in respect thereof, shall, notwithstanding the delivery of Bonds in respect thereof to the Tender Agent as custodian for the Banks, be governed by paragraph (d) of this Section 2.03.

• Each such reduction shall be effective on the day of the honoring by us of such Purchase Drawing or Principal Drawing, as the case may be, and shall automatically result in a corresponding aggregate reduction in the Stated Amount.

• Unless otherwise directed by Required Lenders, the applicable L/C Issuer shall then deliver notice to the applicable Trustee prior to the fifth Business Day after any such Bond Purchase Drawing that the amount of such drawing will not be reinstated.

• The obligation of Company under this Agreement and under the Indenture in respect of such Bonds purchased with the proceeds of a Purchase Drawing shall be satisfied by the payment of such Bonds in accordance with their terms and the terms of the Indenture and the subsequent payment to Credit Bank of all such payments, or the reimbursement of the Credit Bank pursuant to the terms of the Remarketing Agreement following the remarketing of the Bonds.

• Upon receipt by us or our agent of Bonds pledged in connection with any Bond Purchase Drawing pursuant to the Pledge and Security Agreement, the Stated Amount shall be automatically and irrevocably reinstated by the amount of such Bond Purchase Drawing.

More Definitions of Purchase Drawing

Purchase Drawing shall have the meaning set forth in the Letter of Credit. REPORTABLE EVENT shall mean an event described in Section 4043(b) of ERISA (with respect to which the 30-day notice requirement has not been waived by the PBGC).

Purchase Drawing means a drawing under the Letter of Credit pursuant to a Purchase Drawing, as defined in the Letter of Credit, to purchase Bonds that are tendered or deemed tendered.

Purchase Drawing means a drawing made on the Letter of Credit with respect to the payment of the purchase price of Notes tendered for purchase in accordance with the terms of the Indenture.

Purchase Drawing. As defined in the Eagle Ranch Letter of Credit.

Purchase Drawing shall have the meaning assigned to such ---------------- term in the applicable Special Letter of Credit. (xiii) "Remarketing Agreements" means that certain Remarketing ---------------------- Agreement dated as of June 1, 1995, among the Borrower, the Industrial Development Board of the Parish of Lafayette, Louisiana, Inc. and ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Refsnes, Inc. in connection with the Series 1995 Lafayette Bonds, and that certain Remarketing Agreement dated as of June 1, 1995, among the Borrower, the Industrial Development Board of the Parish of Calcasieu, Louisiana, Inc. and ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Refsnes, Inc. in connection with the Series 1995 Calcasieu Bonds.

Purchase Drawing has the meaning assigned to such term in the Letter of Credit. “Purchase Notice” shall have the meaning assigned to such term in Section 2.04(g). “Purchase Price” shall have the meaning set forth in the Letter of Credit.