Supplemental Mortgage Indenture definition
Examples of Supplemental Mortgage Indenture in a sentence
The Company shall make arrangements satisfactory to the Company Mortgage Trustee to effect a concurrent redemption of an equivalent principal amount of corresponding First Mortgage Bonds under the Supplemental Mortgage Indenture.
The Company agrees that First Mortgage Bonds authorized pursuant to the Company Mortgage, will be issued containing the terms and conditions and in substantially the form set forth in the Supplemental Mortgage Indenture.
On October 1, 2002, the Cooperative issued $1,900,000 from VEC’s Supplemental Mortgage Indenture, the proceeds of which were used to fund capital expenditures.
On November 1, 2010, the Cooperative issued $9,000,000 from VEC’s Supplemental Mortgage Indenture, the proceeds of which were to refinance the line of credit and fund the Cooperative’s plant additions.
NOTE 5 LONG-TERM DEBT (continued) 2019 Series A BondsOn September 26, 2019 the Cooperative issued $7,500,000 from VEC’s Supplemental Mortgage Indenture, the proceeds of which were to refinance the line of credit and fund the Cooperative’s plan additions.
The Pledged Bond has been duly and validly authorized, issued, authenticated, pledged and delivered to the Note Trustee in accordance with the Indenture and the Supplemental Mortgage Indenture; and the Pledged Bond constitutes the legal, valid and binding obligation of the Company and conforms to the description thereof in the Registration Statement and the Prospectus; the payments of the principal of and any premium or interest on the Notes are secured by the Pledged Bond.
The Original Indenture as supplemented and amended as described in the preceding sentence is referred to herein as the "INDENTURE." The Indenture constitutes a direct mortgage lien upon the franchises of the Company and upon the properties therein described as intended to be mortgaged, subject only to the exceptions and encumbrances set forth in the granting clauses of the Indenture and Permitted Encumbrances (as defined in the Eighth Supplemental Mortgage Indenture).
The Bonds issued under the Indenture will be secured by an assignment and pledge to the bond trustee of this Agreement and the Mortgage Bonds issued under a Supplemental Mortgage Indenture all as defined in the Indenture.
For the purpose of providing collateral security for the obligations of the Company with respect to the 3.95% Senior Notes due 2047, the Company shall issue and deliver the 3.95% First Mortgage Bond, Collateral Series due 2047 (the “3.95% Collateral Mortgage Bonds due 2047”) to the Trustee pursuant to the Second Supplemental Mortgage Indenture.
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