Commitment to Purchase Bonds Clause Samples

Commitment to Purchase Bonds. The Corporation agrees, ---------------------------- on the terms and conditions contained in this Agreement, to purchase Bonds bearing interest at a Variable Rate (and not defeased) that are tendered to the Corporation from time to time pursuant to the Authorizing Document during the Purchase Period at the Purchase Price. In accordance with Section 2.3 of the GE Capital Agreement such purchase shall be made from Corporation moneys or moneys made available by GE Capital to the Corporation under the GE Capital Agreement. The Corporation will exercise its rights under the GE Capital Agreement and make a borrowing thereunder in a timely manner in order to obtain all funds necessary to meet the payment obligations under this Agreement. The aggregate principal amount of the Bonds purchased by the Corporation on any Purchase Date shall not exceed the Available Principal Commitment on such date and the aggregate amount of the Purchase Price comprising interest on Bonds purchased by the Corporation on any Purchase Date shall not exceed the lesser of (1) the Available Interest Commitment and (2) the actual amount of interest accrued and unpaid on such Bonds to but excluding such date. The Corporation agrees that in no event shall amounts paid by it in respect of the Purchase Price be paid from funds or property of the Issuer. The parties hereto acknowledge that the obligation of the Corporation hereunder to purchase Bonds pursuant and subject to the terms and conditions of this Agreement is irrevocable and constitutes an extension of credit to the Issuer at the Effective Date and that the obligation of the Issuer to repay amounts advanced by the Corporation under this Agreement in respect of the purchase of Bonds shall be evidenced by the Bonds so purchased. From and after the Effective Date, the obligation of the Corporation to purchase Bonds pursuant to this Agreement shall run to the benefit of those beneficiaries identified in Section 7.10.
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Commitment to Purchase Bonds. SECTION 2.01. Commitment to Purchase Bonds...........................................................4 SECTION 2.02.
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Commitment to Purchase Bonds. SECTION 2.01 Commitment to Purchase Bonds . . . . . . . . . . . . . . . . 4 2.02
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Commitment to Purchase Bonds. The Bank agrees, on the terms and
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Commitment to Purchase Bonds. (a) Subject to Section 2.2, at any time and from time to time during the Availability Period for the 2025 Bonds when there is an Available Commitment relating to the 2025 Bonds, upon receipt by the Authority of a Notice of Authority Purchase from the Trustee pursuant to Section 2.3 of this Agreement, and in accordance with the Indenture, the Authority agrees on the terms and conditions specified herein, to purchase by 3:00 p.m. New York City time on the Purchase Date specified in the Notice of Authority Purchase the aggregate principal amount of the 2025 Bonds bearing interest at a Weekly Rate specified for purchase in the Notice of Authority Purchase at a price equal to the Purchase Price of such 2025 Bonds; provided that in no event shall the aggregate outstanding principal amount of all 2025 Bonds held by or for the account of the Authority exceed the Available Principal Commitment with respect to such 2025 Bonds at such time. (b) Funds transferred by the Authority to the Trustee to purchase 2025 Bonds shall be deposited by the Trustee in the Authority Liquidity Account established pursuant to Section [ ] or the Supplemental Indenture solely for the benefit of Holders of the 2025 Bonds to be purchased pursuant to the terms of the Indenture and this Agreement. (c) Upon the termination of the Availability Period with respect to the 2025 Bonds, the Available Commitment applicable to the 2025 Bonds shall be reduced to zero.
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Commitment to Purchase Bonds. The Bank agrees, on the terms and conditions contained in this Agreement, to purchase the Tendered Bonds for its own account from time to time during the Bank Purchase Period at the Purchase Price. The aggregate principal amount of all Bonds purchased on any Bank Purchase Date shall not exceed the Available Principal Commitment (calculated without giving effect to any purchase of Bonds by the Bank on such date) on such date. The aggregate amount of the Purchase Price comprised of interest on the Bonds (the "Interest Component") purchased on any Bank Purchase Date shall equal the actual aggregate amount of interest accrued on each such Bond to but excluding such Bank Purchase Date, and not to exceed the Available Interest Commitment on such Bank Purchase Date. Any Bonds so purchased shall thereupon constitute Bank Bonds and shall, from the date of such purchase and while they are Bank Bonds, bear interest at the Bank Rate and have other characteristics of Bank Bonds as set forth herein and to the extent not in conflict herewith, in the Indenture.
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Commitment to Purchase Bonds 
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Related to Commitment to Purchase Bonds

  • Purchase of Notes and Warrants On the Closing Date (as defined below), the Company shall issue and sell to each Buyer and each Buyer severally agrees to purchase from the Company such principal amount of Notes and number of Warrants as is set forth immediately below such Buyer's name on the signature pages hereto.

  • Repayment to Issuer Subject to any applicable abandoned property law, any money deposited with the Trustee or any Paying Agent, or then held by the Issuer, in trust for the payment of the principal of, premium, if any, or interest on any Note and remaining unclaimed for two years after such principal, and premium, if any, or interest has become due and payable shall be paid to the Issuer on its request or (if then held by the Issuer) shall be discharged from such trust; and the Holder of such Note shall thereafter look only to the Issuer for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Issuer as trustee thereof, shall thereupon cease.

  • Repayment of Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Revolving Loans outstanding on such date.

  • SALE/PURCHASE OF INITIAL LOANS (A) Consummation of Sale and Purchase The sale and purchase of Eligible Loans pursuant to the Initial Purchase Agreement to be dated as of the Closing Date shall be consummated upon (i) Funding’s receipt from VL Funding and the VL Funding Eligible Lender Trustee for the benefit of VL Funding of the Initial ▇▇▇▇ of Sale and (ii) the payment by Funding to VL Funding of the Initial Payment. Upon consummation, such sale and purchase shall be effective as of the date of the Initial ▇▇▇▇ of Sale. VL Funding and Funding shall use their best efforts to perform promptly their respective obligations pursuant to the Initial Purchase Agreement with respect to each Initial Loan. (B) Settlement of the Initial Payment On the date of the Initial ▇▇▇▇ of Sale, Funding shall pay to VL Funding the Initial Payment by wire transfer of immediately available funds to the account specified by VL Funding. (C) Interest Subsidy and Special Allowance Payments and Rebate Fees VL Funding shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Initial Loan accruing up to but not including the Initial Cutoff Date and shall be responsible for the payment of any rebate fees applicable to the Initial Loans accruing up to but not including the Initial Cutoff Date. The Interim Eligible Lender Trustee on behalf of Funding shall be entitled to all Special Allowance Payments and Interest Subsidy Payments on the Initial Loans accruing from the Initial Cutoff Date, and shall be responsible for the payment of any rebate fees applicable to the Initial Loans accruing from the Initial Cutoff Date.

  • Purchase of Convertible Debentures Subject to the satisfaction (or waiver) of the terms and conditions of this Agreement, each Buyer agrees, severally and not jointly, to purchase at each Closing and the Company agrees to sell and issue to each Buyer, severally and not jointly, at each Closing, Convertible Debentures in amounts corresponding with the Subscription Amount set forth opposite each Buyer’s name on Schedule I hereto.