Tender Draft definition

Tender Draft has the meaning assigned to that term in the Letter of Credit.

Tender Draft means a Liquidity Drawing under a Xxxx XX to pay the purchase price of a series of Bonds delivered or deemed delivered to the Trustee, the Tender Agent or the Remarketing Agent pursuant to the Indenture for such series and not remarketed by the Remarketing Agent for such series of Bonds on the date such Bonds are to be purchased.

Tender Draft will mean a drawing or drawings under Exhibit B to any Letter of Credit to be used for payment of the purchase price of the applicable Bonds tendered to the Tender Agent in accordance with the Indenture and not remarketed.

Examples of Tender Draft in a sentence

• All sums of money so paid to the Agent in respect of Pledged Bonds shall be credited against the obligation of the Company to reimburse the Agent, with interest under Section 2.10.5 for the amount drawn with a Tender Draft to fund the purchase of such Pledged Bonds pursuant to the Indenture.

• Notwithstanding any other provision hereof, the Borrower shall repay the unpaid amount of each Tender Advance, together with all unpaid interest thereon on the earlier to occur of (i) such date as Bonds purchased pursuant to a Tender Draft are resold as provided in paragraph 4.3(d) hereof, (ii) on the date 366 days following the date of such Tender Advance, or (iii) the Termination Date.

• Unless the Borrower or the Guarantor shall have previously advised the Bank in writing or the Bank has actual knowledge that the above statement is no longer true, the Borrower and the Guarantor shall be deemed to have represented and warranted, on the date of payment by the Bank under the Letter of Credit pursuant to a Tender Draft, that on the date of such payment the above statement is true and correct.

• In connection with the presentation of any Tender Draft or Conversion Draft, Bonds in aggregate principal amount equal to the principal amount of such Tender Draft or Conversion Draft shall be delivered to the Bank or its designee as promptly as practicable, and in any event within five Business Days after such presentation, registered in the name of the Bank, or its designee, as pledgee of the Borrower, pledged to the Bank pursuant to the Pledge Agreement.

• Agreement the Borrower has agreed that, in accordance with the terms of the Indenture, Bonds purchased with proceeds of any Tender Draft shall be delivered by the Tender Agent to the Bank or its designee to be held by the Bank or its designee in pledge as collateral securing the Borrower’s payment obligations to the Bank hereunder.

More Definitions of Tender Draft

Tender Draft means a Liquidity Drawing under a Bond LC to pay the purchase price of a series of Bonds delivered or deemed delivered to the Trustee, the Tender Agent or the Remarketing Agent pursuant to the Indenture for such series and not remarketed by the Remarketing Agent for such series of Bonds on the date such Bonds are to be purchased.

Tender Draft with respect to any Existing Letter of Credit, a Tender Draft as defined in such Existing Letter of Credit.

Tender Draft has the meaning assigned to that term in the applicable Bond Letter of Credit.

Tender Draft means, with respect to any Existing Letter of Credit, a Tender Draft as defined in such Existing Letter of Credit.

Tender Draft shall have the meaning provided in the Existing Letter of Credit.

Tender Draft means the tender for purchase of a Bond in accordance ------------ with any of Sections 2.06 through 2.10 of any of the Indentures.

Tender Draft has the meaning assigned to that term in the Letter of Credit. "Termination Date" means the last day a drawing is available under the Letter of Credit. "Trustee" means any Person or group of Persons at the time serving as trustee under the Indenture. ARTICLE II