Examples of Substitute Liquidity Facility in a sentence
The Remarketing Agent shall continue to use its best efforts to arrange for the sale of any Liquidity Provider Bonds, subject to full reinstatement of the amount available to be drawn on the Liquidity Facility with respect to such Bonds or delivery of a Substitute Liquidity Facility.
If a purchase of Bonds is effected pursuant to this subsection, the existing Liquidity Facility, if necessary, will be used to provide funds for such purchase, rather than the Substitute Liquidity Facility, and the Bond Trustee shall not surrender the existing Liquidity Facility until the purchase of the Bonds has been effected pursuant to this subsection.
The Bonds will be subject to mandatory tender for purchase on the date of substitution of a Substitute Liquidity Facility for the then existing Liquidity Facility.
The Bond Trustee shall hold any Liquidity Facility for the benefit of the Owners or purchasers of the Bonds until the Liquidity Facility expires or terminates in accordance with its terms or a Substitute Liquidity Facility is substituted for the Liquidity Facility under Section 502 hereof.
The Corporation will exercise its best efforts (except when the Bonds are converted to an Indexed Term Put Rate or a Fixed Rate without a Liquidity Facility) to extend the term of the Liquidity Facility then in effect or to cause a Substitute Liquidity Facility to be delivered by the Liquidity Provider to the Bond Trustee prior to the expiration or termination date of the Liquidity Facility then in effect pursuant to the provisions of this Article.