Examples of Supplemental Credit Enhancement in a sentence
The Series A Credit Provider or the Series A Supplemental Credit Enhancer, may, at any time remove the Trustee if such Series A Credit Provider or Series A Supplemental Credit Enhancer, as applicable, is not in default on its payment obligations under the corresponding Series A Credit Instrument or Series A Supplemental Credit Enhancement, as applicable.
The Trustee shall hold and maintain each such Credit Instrument and Supplemental Credit Enhancement, if any, for the benefit of the Owners of the respective Series of Authority Notes until each corresponding Credit Instrument and Supplemental Credit Enhancement terminates in accordance with its terms.
Credit Instrument and Supplemental Credit Enhancement 37 ARTICLE VII COVENANTS 37 Section 7.01.
Provisions Applicable to a Letter of Credit or Policy of Insurance as Supplemental Credit Enhancement or Credit Instrument 34 Section 6.02.
Any removal or resignation of a Trustee and appointment of a successor Trustee shall become effective only when the successor Trustee has provided written acceptance of its appointment to the Authority and each Credit Instrument, if any, and Supplemental Credit Enhancement, if any, are transferred in accordance with their respective terms.
In the event of a default by a Supplemental Credit Enhancer with respect to a draw or payment request under the corresponding Supplemental Credit Enhancement, the Authority’s and the Trustee’s rights to enforce any rights thereunder shall be assigned to the corresponding Credit Provider.