C redit Provider’s Consent Sample Clauses

C redit Provider’s Consent. This Paying Agent Agreement and the rights and obligations of the District, the Owners, and the Paying Agent may also be modified or amended at any time by, a Supplemental Paying Agent Agreement entered into by the District, with the written consent of the Paying Agent, which shall become binding when the written consents of each provider of a letter of credit or a policy of bond insurance for the Bonds shall have been filed with the District, provided that at such time the payment of all the Bond Obligation of and interest on all Outstanding Bonds shall be insured by a policy or policies of municipal bond insurance or payable under a letter of credit the provider of which shall be a financial institution or association having unsecured debt obligations rated, or insuring or securing other debt obligations rated on the basis of such insurance or letters of credit, in one of the two highest Rating Categories of each rating agency then rating the Bonds.
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