Substitute Credit Facility definition

Substitute Credit Facility means a letter of credit, line of credit, insurance policy or other credit facility securing the payment of the principal and Purchase Price of, redemption premium (if any) and interest on the Bonds, delivered to the Trustee in accordance with Section 4.04 of the Agreement.

Substitute Credit Facility means any credit facility of the Issuer which is created subsequent to the Closing Date and which replaces all or part of the Existing Credit Facilities or a Substitute Credit Facility (and which may provide for an increase in the amount of credit available thereunder), so long as the Issuer is the borrower under such Substitute Credit Facility.

Substitute Credit Facility means any credit facility (as the same may be amended, supplemented or modified from time to time) of the Company which is created subsequent to December 18, 2003 and which replaces all or part of the Credit Facility or a Substitute Credit Facility (and which may provide for an increase in the amount of credit available thereunder), so long as the Company is a borrower under such Substitute Credit Facility.

Examples of Substitute Credit Facility in a sentence

• Any Substitute Credit Facility shall be delivered to the Trustee prior to such Mandatory Purchase Date and shall be effective on and after such Mandatory Purchase Date.

• Subject to the conditions set forth in this Section 4.04, the Company may provide for the delivery to the Trustee of a Substitute Credit Facility.

• Further, the Company acknowledges that in the event that it shall select a Commercial Paper Period or Long Term Period as the Interest Period, it shall be required to provide a Substitute Credit Facility or an amendment to the Credit Facility in accordance with Section 2.08 of the Indenture.

• Further, the Company acknowledges that in the event that it shall select a Commercial Paper Period or Long Term Period as the Interest Period, it shall be required to provide a Substitute Credit Facility or an amendment to the Credit Facility in accordance with Section 2.07 of the Indenture.

• If the new Interest Period is a Commercial Paper Period or a Long Term Period and will be a Credit Facility Period, such instructions will be accompanied by a Substitute Credit Facility, or by an amendment to the existing Credit Facility, providing for the payment of such additional interest and redemption premium (if any) on the Bonds as may be required.

More Definitions of Substitute Credit Facility

Substitute Credit Facility means a Credit Facility which is issued by a Substitute Credit Facility Provider, is satisfactory to the Authority and the Borrower and is delivered pursuant to Section 3.11 of the Indenture. An extension of the term of any existing Credit Facility shall not be deemed to constitute the delivery of a Substitute Credit Facility.

Substitute Credit Facility means a letter of credit issued in substitution for the Letter of Credit pursuant to the Issuing and Paying Agency Agreement.

Substitute Credit Facility. As provided in the Indenture.

Substitute Credit Facility means a Credit Facility which is issued by a Substitute Credit Facility Provider, is satisfactory to the Authority and the Borrower and is delivered pursuant to Section 3.11 of this Indenture. An extension of the term of any existing Credit Facility shall not be deemed to constitute the delivery of a Substitute Credit Facility.

Substitute Credit Facility shall have the meaning assigned to such term in Section 1202 of this Indenture.

Substitute Credit Facility means any validly issued irrevocable letter of credit containing substantially the same terms as the initial Credit Facility, delivered to the Bond Trustee and being substituted for the Credit Facility then in effect pursuant to the Trust Agreement. (See “Alternate Credit Supports - Substitute Credit Facilities” under the heading “SECURITY FOR THE BONDS” set forth herein.)

Substitute Credit Facility means any municipal bond insurance policy, a letter of credit or similar credit enhancement or guarantee facility constituting a Credit Facility within the meaning of this Resolution issued by a Credit Facility Issuer and delivered to the Trustee in connection with a particular Series of Bonds and effective upon the expiration or early termination of the then existing Credit Facility relating to such Series of Bonds in replacement of such existing Credit Facility, all in accordance with the provisions of the Applicable Series Resolution and the Applicable Bond Series Certificate;