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
Upon receipt of such documentation, the Trustee shall accept such Substitute Credit Facility and promptly surrender the previous Credit Facility to the issuer thereof for cancellation.
Under the terms of the Indenture, the Obligor has the right to provide a Substitute Credit Facility.
Any Credit Facility (or Substitute Credit Facility) shall be a facility provided by a commercial bank, insurance company, or other financial institution in an amount equal to the Required Stated Amount for such Bonds with a term of at least 30 days from the effective date thereof.
The Obligor may, from time to time, deliver to the Trustee a Substitute Credit Facility in accordance with the terms of the Indenture.
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. 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 means a letter of credit issued in substitution for the Letter of Credit pursuant to the Issuing and Paying Agency Agreement.
Substitute Credit Facility means a letter of credit, insurance policy, surety bond, guaranty or similar commitment delivered to the Trustee pursuant to Section 210 hereof representing the irrevocable obligation of the issuer thereof to pay to the Trustee or to cause to be paid to the Holders in accordance with the terms thereof amounts necessary to pay all interest on all Bonds as and when due on each Interest Payment Date and all principal or Purchase Price of all Bonds as and when due if sufficient amounts for such payments are not otherwise available under 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 shall have the meaning assigned to such term in Section 1202 of this Indenture.