Examples of Trust Bond in a sentence
The Trustee shall also have authority to exercise any rights or powers conferred on the Trustee, as the holder of the Trust Bond, under the Deed of Trust.
The Company further covenants and agrees that the Pledge Agreement creates the direct and valid first lien on the Trust Bond which it purports to create.
The Trustee shall hold in its possession the Trust Bond constituting the Trust Estate, except as from time to time any documents or instruments may be required for recordation or re-recordation or other actions, suits or proceedings relating to the Trust Estate, or for the purpose of enforcing or realizing upon any right or value thereby represented.
The Trustee may, from time to time, in its sole discretion, for the purpose of convenient location of the Trust Bond, appoint one or more agents to hold physical custody, for the account of the Trustee, of the Trust Bond.
The Borrower shall on demand pay to the Trust or the Trustee the reasonable fees and expenses of attorneys and other reasonable expenses (including, without limitation, the reasonably allocated costs of in-house counsel and legal staff) incurred by either of them in the collection of Trust Bond Loan Repayments or any other sum due hereunder or in the enforcement of the observation or performance of any other duties, covenants, obligations or agreements of the Borrower upon an Event of Default.
Each Holder by accepting an Environmental Trust Bond specifically confirms the nonrecourse nature of these obligations and waives and releases all such liability.
In addition, if at the time of such prepayment the Trust Bonds may only be redeemed at the option of the Trust upon payment of a premium, the Borrower shall add to its prepayment of Trust Bond Loan Repayments an amount, as determined by the Trust, equal to such premium allocable to the Trust Bonds to be redeemed as a result of the Borrower's prepayment.
As provided in the Indenture, the Securities will initially be secured by the pledge to the Trustee pursuant to the Pledge Agreement of the Trust Bond issued by the Company under the Deed of Trust.
Each Holder by accepting an Environmental Trust Bond specifically confirms the nonrecourse nature of these obligations, and waives and releases all such liability.
It is the desire of the parties hereto and the Holders that there be at all times sufficient funds for the payment of principal of and premium, if any, and interest on the Environmental Trust Bonds, and the Indenture Trustee shall take such desire into account when determining whether or not to maintain possession of the Environmental Trust Bond Collateral.