Target Bonds definition
Examples of Target Bonds in a sentence
The Dealer Manager shall not be deemed the agent of any Target Bonds broker or dealer or of any commercial bank or trust company.
The City and the Authority have approved and prepared the Tender/Exchange Documents and are solely responsible for the Tender/Exchange Documents and authorize the Dealer Manager to use the Tender/Exchange Documents in connection with the solicitation of offers to tender Target Bonds for purchase or exchange as described in the Tender/Exchange Documents.
The ratio of Consolidated Total Net Debt on each date set out in Column 1 below to Consolidated EBITDA for any Relevant Period ending on any Quarter Date specified in Column 1 below shall not exceed the ratio set out in Column 2 in the situation where less than 50 per cent of the Target Bonds (by value) are outstanding and Column 3 in the situation where 50 per cent or more of Target Bonds (by value) are outstanding below opposite such date.
Thereafter, to the extent practicable until the expiration of the Tender/Exchange Program, the City and the Authority shall direct the Information Agent to cause copies of such material to be mailed to each person who becomes a Bondowner of the Target Bonds.
In soliciting tenders, no Target Bonds broker or dealer (other than the Dealer Manager), commercial bank or trust company shall be deemed to act as the agent of the City or the Authority or the Dealer Manager.
Such fees shall be payable concurrently with the payment for, or exchange of, the Target Bonds under the Tender/Exchange Program and shall be paid from the proceeds of the Authority’s Revenue Refunding Bonds, Series 2022-C-1 (Electric Utility Distribution System Refunding) (the “2022-C-1 Bonds”).
The Dealer Manager agrees to furnish no written material to holders of the Target Bonds in connection with the Tender/Exchange Program other than the Tender/Exchange Documents.
The City and the Authority shall have sole authority for acceptance or rejection of any and all tenders of Target Bonds.
No additional consent, approval, authorization or order of, or registration, qualification or filing with, any court or regulatory agency or other governmental agency or instrumentality is required in connection with the making and consummation of the Tender/Exchange Program (including Series 2022-C-1 Bonds, the Series 2022-C-2 Bonds or other provisions for the purchase or exchange of the Target Bonds).
The City and the Authority shall cause the Information Agent to deliver to each registered holder of any Target Bonds, to each participant in DTC appearing in the most recently available DTC Target Bonds position listing as a holder of the Target Bonds and to each known holder, as soon as practicable, by electronic delivery, by overnight courier or first class USPS (if deemed adequate) copies of the Tender/Exchange Documents.