Examples of Series 2019A Notes in a sentence
Section 9.3.1. The Series 2019A Notes are subject to redemption by the Issuer, at the election of the Borrower, as a whole or in part, on any date after the Project is placed in service for federal tax purposes, in an amount equal to the principal amount thereof to be redeemed, together with the accrued interest thereon to the date fixed for redemption plus an amount equal to the Prepayment Penalty.
If, following such date the full principal amount of the Series 2019A Notes is drawn and advanced, such principal payments shall be made as shown in Exhibit D.
On the Closing Date, the proceeds from the sale of the Series 2019A Notes shall be deposited into the Note Proceeds Account and the proceeds of the draw on the Bridge Loan shall be deposited into the Equity Proceeds Account.
Evidence a Debt Service Coverage Ratio of 1.20:1.00 with respect to the Series 2019A Notes on the Closing Date.
The Borrower shall deposit in the Series 2019A Note Fund on each Interest Payment Date and Principal Payment Date the amount of interest and/or principal then due and owing on the Series 2019A Notes subject to Section 2.3 and Section 3.5 hereof.
Any such proceeds held by the Lead Noteholder as provided in the preceding sentence shall be applied to the prepayment of the Series 2019A Promissory Note and the redemption of the Series 2019A Notes.
Prior to maturity, a Determination of Taxability or an Event of Default, the unpaid principal balance of the Loan shall bear interest initially at the Fixed Interest Rate with respect to the Series 2019A Notes and the Bank Rate with respect to the Series 2019B Notes.
The Series 2019A Notes shall be secured by the Mortgage, the Security Agreement, the Guaranty and the other Loan Documents and are special, limited obligations of the Issuer payable solely from the Revenues and other amounts derived from this Loan Agreement, the Series 2019A Note, the Mortgage and other Loan Documents, as more specifically set forth in Section 8.1 hereof.
The Issuer shall deliver the Series 2019 Notes to the Original Purchaser contemporaneously with the delivery by the Original Purchaser of all proceeds of the Series 2019A Notes for the deposit into the General Fund created under this Loan Agreement and deposit of the proceeds of the Series 2019B Notes to the Collateral Fund created under this Loan Agreement.
If the full principal amount of the Series 2019A Notes has not been drawn on such date, Exhibit D shall be deemed to be amended as to the Series 2019A Notes to reflect a pro rata reduction in principal payments determined by multiplying each payment by a fraction, the numerator of which is the principal amount drawn and advanced on the Series 2019A Notes on such date and the denominator of which is the principal amount of the Series 2019A Notes.