Remarketing Drawing definition
Examples of Remarketing Drawing in a sentence
Such interest shall be payable on each Interest Payment Date for so long as such Remarketing Drawing or any portion thereof is unreimbursed.
Drawings on a Gables Bond Enhancement Letter of Credit other than a Regular Drawing or a Remarketing Drawing may be reimbursed through the obtaining of a Loan as provided in this Section 2.4. The Issuing Lender is authorized to provide notices to the Trustee as provided in the Gables Bond Enhancement Letters of Credit and the Bond Documents.
The amount of any unreimbursed Remarketing Drawing shall bear interest from the date of the Remarketing Drawing at a rate per annum equal to the Prime Rate plus one percent (1.0%).
The portion of a Remarketing Drawing used by the Trustee to pay the interest portion of the purchase price of Bonds or Beneficial Ownership Interests duly tendered, or deemed tendered, for purchase on the applicable Bond Purchase Date shall be paid on the date of such Remarketing Drawing, together with the sum of $50 for each such Remarketing Drawing.
With respect to any Remarketing Drawing only, such amount will be reinstated only upon receipt by the applicable Trustee of notice from the Issuing Lender that the Reimbursement Obligation with respect to such Remarketing Drawing has been repaid other than as a result of a borrowing under this Agreement.
As soon as possible following any Remarketing Drawing, and in any event within ten (10) days of the date of such Drawing, Funding will cause the Trustee to deliver the Pledged Notes related to that Drawing to the Agent, for the benefit of the Banks, which Pledged Notes shall be registered in the name of the Agent, for the benefit of the Banks, or in the name of Funding and accompanied by appropriate endorsements or assignments executed on behalf of Funding in blank, with the signatures guaranteed.
The amount of any unreimbursed Remarketing Drawing shall bear interest from the date of the Remarketing Drawing at a rate per annum equal to the Prime Rate.
Each Remarketing Reimbursement Loan-1994 Refunding Bonds shall be in an amount not in excess of the amount due to the Enhancement Issuer from the Borrower on the related reimbursement due date on account of the portion of the Remarketing Drawing representing the Principal Amount.
The amount of any unreimbursed Remarketing Drawing shall bear interest from the date of the Remarketing Drawing at a rate per annum equal to the Federal Funds Rate plus one hundred fifty basis points (1.50%).
Any amounts received by the Bank from the remarketing of Bonds purchased out of a Remarketing Drawing and registered to the Bank or, at the direction of the Bank, to the Borrower, shall be applied against the Borrower's obligation to reimburse the Bank for the amount of the Remarketing Drawing.