Common use of Commitment to Purchase Variable Rate Bonds Clause in Contracts

Commitment to Purchase Variable Rate Bonds. The Corporation agrees, on the terms and conditions contained in this Agreement, to purchase the Variable Rate Bonds bearing interest at the Daily Rate, the Weekly Rate, Bond Interest Term Rates or the Long Rate (each as defined in the Authorizing Document) that are tendered or deemed tendered to the Trustee from time to time pursuant to the Authorizing Document during the Purchase Period at the purchase price set forth in the Authorizing Document (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. In the event such moneys come from those moneys available under the GE Capital Agreement, the Corporation shall take the necessary steps to obtain such moneys in accordance with the GE Capital Agreement. The aggregate principal amount of the Variable Rate 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 Variable Rate 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 Variable Rate 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 Variable Rate Bonds pursuant and subject to the terms and conditions of this Agreement is irrevocable and that the Corporation shall become a Bondholder under the Authorizing Document of each Variable Rate Bond purchased under this Agreement and that the Corporation, as such Bondholder, shall be entitled, as the holder of Variable Rate Bonds bearing interest at the Provider Rate, to all rights and remedies granted to Bondholders of Variable Rate Bonds under the Authorizing Document. From and after the Effective Date, the obligation of the Corporation to purchase Variable Rate Bonds pursuant to this Agreement shall run to the benefit of those beneficiaries identified in Section 7.09.

Commitment to Purchase Variable Rate Bonds. The Corporation agrees, on the terms and conditions contained in this Agreement, to purchase the Variable Rate Bonds bearing interest at the Daily Rate, the Weekly Rate, Bond Interest Term Rates or the Long Rate (each as defined in the Authorizing Document) a variable rate that are tendered or deemed tendered to the Trustee from time to time pursuant to the Authorizing Document during the Purchase Period at the purchase price set forth in the Authorizing Document (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. In the event such moneys come from those moneys available under the GE Capital Agreement, the Corporation shall take the necessary steps to obtain such moneys in accordance with the GE Capital Agreement. The aggregate principal amount of the Variable Rate 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 Variable Rate 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 Variable Rate 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 IssuerIssuer or the Borrower. The parties hereto acknowledge that the obligation of the Corporation hereunder to purchase Variable Rate Bonds pursuant and subject to the terms and conditions of this Agreement is irrevocable and that the Corporation shall become a Bondholder under the Authorizing Document of each Variable Rate Bond purchased under this Agreement and that the Corporation, as such Bondholder, shall be entitled, as the holder of Variable Rate Bonds bearing interest at the Provider Rate, to all rights and remedies granted to Bondholders of Variable Rate Bonds under the Authorizing Document. From and after the Effective Date, the obligation of the Corporation to purchase Variable Rate Bonds pursuant to this Agreement shall run to the benefit of those beneficiaries identified in Section 7.09.

Commitment to Purchase Variable Rate Bonds. The ------------------------------------------ Corporation agrees, on the terms and conditions contained in this Agreement, to purchase the Variable Rate Bonds bearing interest at the Daily Rate, the Weekly Rate, Bond Interest Term Rates or the Long Rate (each as defined in the Authorizing Document) a variable rate that are tendered or deemed tendered to the Trustee Tender Agent from time to time pursuant to the Authorizing Document during the Purchase Period at the purchase price set forth in the Authorizing Document (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. In the event such moneys come from those moneys available under the GE Capital Agreement, the Corporation shall take the necessary steps to obtain such moneys in accordance with the GE Capital Agreement. The aggregate principal amount of the Variable Rate 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 Variable Rate 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 Variable Rate 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 Variable Rate Bonds pursuant and subject to the terms and conditions of this Agreement is irrevocable and that the Corporation shall become a Bondholder under the Authorizing Document of each Variable Rate Bond purchased under this Agreement and that the Corporation, as such Bondholder, shall be entitled, as the holder of Variable Rate Provider Bonds bearing interest at the Provider Rate, to all rights and remedies granted to Bondholders of Variable Rate Bonds under the Authorizing Document. From and after the Effective Date, the obligation of the Corporation to purchase Variable Rate Bonds pursuant to this Agreement shall run to the benefit of those beneficiaries identified in Section 7.09.

Commitment to Purchase Variable Rate Bonds. The Corporation agrees, on the terms and conditions contained in this Agreement, to purchase the Variable Rate Bonds bearing interest at the Daily Rate, the Weekly Rate, Bond Interest Term Rates or the Long Rate (each as defined in the Authorizing Document) a variable rate that are tendered or deemed tendered to the Trustee Tender Agent from time to time pursuant to the Authorizing Document during the Purchase Period at the purchase price set forth in the Authorizing Document (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. In the event such moneys come from those moneys available under the GE Capital Agreement, the Corporation shall take the necessary steps to obtain such moneys in accordance with the GE Capital Agreement. The aggregate principal amount of the Variable Rate 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 Variable Rate 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 Variable Rate 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 Variable Rate Bonds pursuant and subject to the terms and conditions of this Agreement is irrevocable and that the Corporation shall become a Bondholder under the Authorizing Document of each Variable Rate Bond purchased under this Agreement and that the Corporation, as such Bondholder, shall be entitled, as the holder of Variable Rate Provider Bonds bearing interest at the Provider Rate, to all rights and remedies granted to Bondholders of Variable Rate Bonds under the Authorizing Document. From and after the Effective Date, the obligation of the Corporation to purchase Variable Rate Bonds pursuant to this Agreement shall run to the benefit of those beneficiaries identified in Section 7.09.