Bond Issue Sample Clauses

Bond Issue timetable

Bond Issue. 2.1 The Company shall issue a series, unrestricted in sum, of registered Series B Bonds of NIS 1 par value each, bearing interest at the rate of 3.4% per annum, linked (Principal and interest) to the Consumer Price Index in respect of the month of October 2009, as published on November 15, 2009. The Principal of the Series B Bonds shall be payable in four (4) equal annual payments, on November 30 of each of the years 2013 through 2016 (inclusively). The first payment of the Principal shall be executed on November 30, 2013, and the last payment of the Principal shall be executed on November 30, 2016. The interest on the Bonds shall be paid in biannual payments, on May 31 and on November 30 of each of the years 2010 through 2016, for the six-month period ending on the date of each such payment (hereinafter: “Interest Period”). The first payment of the interest shall be executed on May 31, 2010, and the last payment on November 30, 2016, together with the payment of the Principal, and against the return of the Bonds to the Company, all pursuant to the conditions specified in the attached Bond in the First Addendum to This Deed. The Bonds shall be issued to any party that is, on the Bond issue date, “Institutional Investors,” as this term is defined in the Securities Regulations (Method of Offering Securities to the Public), 5767 – 2007. Any transfer of the Bonds is subject to the restrictions on transfers specified in clause 7 of the Conditions Recorded in the Overleaf. The Bonds are being offered in a transaction that does not constitute a public offering in the United States, as this term is defined in the Securities Act of the United States of 1933, inclusive of amendments thereto (hereinafter: “the Law in the U.S.”). The Bonds shall not be submitted for listing with the Securities Exchange Commission of the United States or other securities authority of any state in the United States. The Bonds shall not be offerable or sellable pursuant to the Law in the U.S. by any Holder, unless pursuant to an exemption from the listing requirements in the United States, or within the scope of a transaction that is not subject to the listing requirements pursuant to the Law in the U.S., and pursuant to all operative securities laws in the relevant state in the United States.

Bond Issue. Tenant acknowledges that Landlord intends to employ the Rents and Riverfront Park Grant in part to cover debt service under and other costs of a tax exempt revenue bond issue (the “Bond Issuance”) utilizing the Tenant’s credit and its payment, obligations hereunder in order to fund the costs of the work described in Exhibit I to the Development Agreement. Tenant further acknowledges that its obligations hereunder are not subordinate to any of its most senior or other debts or obligations and that Landlord has not subordinated this Lease and/or Tenant’s obligation hereunder to any other debt or obligations of Tenant. Tenant also acknowledges that in order to complete such work, it is necessary for Landlord to have net proceeds totalling in the aggregate not less than $20,000,000.00, in addition to amounts sufficient to fund interest reserves and to pay costs of issuance of the bonds, available to it as a result of the sale of such bonds. In addition, should said net proceeds be less than $20,000,000.00, Tenant shall on Opening Date waive that portion of the credit to be given Under Section 2.02 of this Lease which is equal to the amount by which $20,000,000.00 exceeds the actual net proceeds of the Bond Issuance (provided however, such waiver shall not exceed the sum of $195,000.00). As additional consideration for Landlord entering into this Lease with Tenant, Tenant agrees, that, on the Commencement Date, it shall pay Landlord in lieu of the anticipated cost of a forward interest rate swap or other derivative or financing device selected by Landlord, the sum of Three Hundred Fifty Thousand Dollars ($350,000.00).

Bond Issue terminate and/or amend or enter into any negotiations to terminate and/or amend the Bonds and/or the Bond Issue, and/or redeem, accelerate and/or repay early any of the Bonds or enter into any negotiations to redeem, accelerate and/or repay early any of the Bonds except by conversion into Borrower’s shares.

Bond Issue. Tenant acknowledges that Landlord intends to employ ---------- the Rents and Riverfront Park Grant in part to cover debt service under and other costs of a tax exempt revenue bond issue (the "Bond Issuance") utilizing the Tenant's credit and its payment obligations hereunder in order to fund the costs of the work described in Exhibit I to the Development Agreement. Tenant further acknowledges that its obligations hereunder are not subordinate to any of its most senior or other debts or obligations and that Landlord has not subordinated this Lease and/or Tenant's obligation hereunder to any other debt or obligations of Tenant. Tenant also acknowledges that in order to complete such work, it is necessary for Landlord to have net proceeds totaling in the aggregate not less than $20,000,000.00, in addition to amounts sufficient to fund interest reserves and to pay costs of issuance of the bonds, available to it as a result of the sale of such bonds.

Bond Issue evidence that the Bond Agent has performed all of its obligations in accordance with the provisions of the Commitment Letter from the Bond Agent to the Borrower dated 15 July 2009 and that, inter alia, the Borrower has received cash proceeds in the amount of $145,000,000 from the Bond Agent pursuant to the Bond Issue and has applied the said cash proceeds in accordance with the provisions of the Bond Issue;

Bond Issue evidence that Grandunion has obtained a firm commitment from the Bond Agent to underwrite the Bond Issue substantially on the terms set out in the Commitment Letter from the Bond Agent to the Borrower dated 15 July 2009 in a form and substance acceptable to the Agent in its absolute discretion;