Credit Enhancement. 55 SECTION 12.
Credit Enhancement. (a) On or before February 15, 2001, Tenant shall deliver to Landlord a Letter of Credit as security for the full and punctual performance by Tenant of all of the terms of this Lease. If the Letter of Credit is not timely delivered, in accordance with Section 2.2(a) of the Purchase Agreement, Landlord will retain a portion of the Purchase Price (as defined in the Purchase Agreement), and Tenant shall have no further obligation to deliver the Letter of Credit. For so long as the Letter of Credit is in effect and sufficient funds thereunder shall be available for draw, Landlord shall be entitled to draw such Letter of Credit each month for payment of Base Rent and Additional Rent. In addition, if Landlord shall be entitled to draw the Letter of Credit in whole or in part pursuant to the other provisions of this Lease, Landlord shall have the right, at its option, either to deposit the cash proceeds of any such draw upon the Letter of Credit into a cash collateral account (the “Cash Collateral Account”) established in Landlord’s name and maintained by Landlord or to apply the proceeds to the obligations of Tenant due or to become due hereunder. The Cash Collateral Account shall be under the sole dominion and control of Landlord and Landlord shall have the sole right to make withdrawals from the Cash Collateral Account and to exercise all rights with respect to the amounts deposited in the Cash Collateral Account.
(b) The initial letter of credit and any replacement letter of credit issued to Landlord shall satisfy the requirements set forth in this Section 4.7 (each, a “Letter of Credit”). Each Letter of Credit shall be a clean, irrevocable, non-documentary and unconditional letter of credit issued by and drawable upon any commercial bank, trust company, national banking association or savings and loan association with offices for banking and drawing purposes in the City of San Francisco (the “Issuing Bank”), which has outstanding, unsecured, uninsured and unguaranteed indebtedness, or shall have issued a letter of credit or other credit facility that constitutes the primary security for an outstanding indebtedness (which is otherwise uninsured and unguaranteed), that is then rated, without regard to qualification of such rating by symbols such as “+” or “-” or numerical notation, “A” or better by Xxxxx’x Investment Service and “A” or better by Standard & Poor’s Ratings Service (and is not on credit-watch or similar credit review with negative implication), an...
Credit Enhancement. Senior/Subordinated: Shifting interest. Cut-off Date: ------------- The Cut-off Date is August 1, 2002. Remittance Date: ---------------- The 25th day of each month, or if such 25th day is not a Business Day, the first Business Day immediately following, commencing September 25, 2002. Purchase Price: --------------- The purchase price payable by the Underwriter for the Certificates is 101.71578% of the aggregate principal balance of the Certificates as of the Closing Date plus accrued interest, as applicable, from August 1, 2002 up to but not including the Closing Date.
Credit Enhancement. Excess spread, overcollateralization, cross-collateralization and subordination as described in the related Prospectus Supplement. Also, the Certificates benefit from an interest rate swap agreement.
Credit Enhancement. Credit Enhancement (CE) information, both on a loan level basis and on a pool level basis, supplied by the MPF Provider on behalf of the MPF Bank is proprietary information. This information is shared with the PFI for the sole purpose of assisting the PFI to evaluate whether to sell the mortgages to the MPF Bank and for the PFI to determine the appropriate capital treatment for such mortgages, and for no other purpose, including but not limited to valuation for market securitization purposes. The MPF Bank and MPF Provider, their vendors, licensors, and all Affiliates thereof do not and cannot warrant the accuracy, adequacy or completeness of, or performance or results that may be obtained by using the MPF Provider’s system and/or any information or data generated with the use of this system. The information and data generated by the MPF Provider’s system are provided “as is” without any express or implied warranties, including but not limited to any implied warranties of merchantability or fitness for any particular purpose or use. The MPF Bank and MPF Provider, their vendors, licensors, and all Affiliates thereof shall not be liable to any PFI or anyone else for any inaccuracy, delay, interruption in service, error or omission, regardless of cause, or for any resulting damages relating to or arising from the MPF Provider’s system and/or any information or data generated with the use of this system. Neither the MPF Bank, MPF Provider, their vendors, licensors, and all Affiliates thereof nor anyone else who has been involved in the creation or production of the MPF Provider’s system and/or the delivery of the information and data generated by the system or any component of the forgoing shall be liable for any indirect, incidental, special, punitive, consequential or similar damages, such as but not limited to, loss of anticipated profits or benefits resulting from the use of the information and data generated by the MPF Provider’s system, even if any of them has been advised as to the possibility of such damages. This limitation of liability shall apply to any claim or cause whatsoever whether such claim or cause arises in contract, tort or otherwise. In the event that liability is nevertheless imposed, the cumulative liability of the MPF Bank and MPF Provider, their vendors, licensors, and all Affiliates thereof shall not exceed $20,000 in the aggregate. The Loan Level Credit Enhancement amount for a Mortgage Loan as determined by the MPF credit enhancem...
Credit Enhancement. No credit enhancement is provided for the Series [ ] Environmental Control Bonds.
Credit Enhancement. If in connection with any Senior Loan, any Senior Lender requires a customary guaranty of non-recourse carve outs to facilitate the closing and funding of any Senior Loan (each, a “Loan Guaranty” and, collectively, the “Loan Guaranties”) DCT LLC shall cause DCT or other party acceptable to the applicable Senior Lender to provide such Loan Guaranties and shall furnish such representations or other documentation as TRT LLC may require (excluding any liability caused by the act or omission of TRT LLC or any of its controlled Affiliates) in order to determine whether such Loan Guaranty gives rise to partner nonrecourse debt that could reasonably be expected to result in a violation of Code Section 514(c)(9)(E) and the Treasury Regulations thereunder. Subject to the limitation below in this sentence, the Partnership hereby agrees to indemnify and hold harmless DCT LLC providing such Loan Guaranty (or any Affiliate of DCT LLC that enters into a Loan Guaranty) from and against all losses, costs and expenses, including, without limitation, reasonable attorney fees arising from the enforcement by the holder of such Loan Guaranty of amounts due or claimed due under the Loan Guaranty (collectively, “Loan Guaranty Losses”); provided that in no event shall the Partnership have any obligation to indemnify or hold harmless any such party (or shall such party have any rights of subrogation against the Partnership) on account of Loan Guaranty Losses if such Loan Guaranty Losses arise from the fraud, willful misconduct or gross negligence of DCT LLC or any of its controlled Affiliates, except to the extent that the Partnership has benefited from such wrongful action. Any indemnification obligation of the Partnership arising under this Section shall be referred to herein as a “Loan Guaranty Indemnification Obligation.”
Credit Enhancement. No credit enhancement (other than the Required Capital Amount and any adjustments to the Transition Bond Charge approved by the BPU as contemplated in the Servicing Agreement) is provided for the Series 2006-A Transition Bonds.
Credit Enhancement. To the extent provided in the Trust Agreement, one or more forms of Credit Enhancement shall be maintained for the benefit of the Certificateholders. The Trust Agreement shall specify with respect to each such form of Credit Enhancement, among other things, the manner in which any funds relating to such Credit Enhancement are to be invested, the source and manner of payment of any Credit Enhancement Fees, the circumstances, if any, under which supplemental or replacement Credit Enhancement shall be obtained, the manner in which such Credit Enhancement is to be enforced, and whether such Credit Enhancement covers or will cover other Series of Certificates.
Credit Enhancement. Any Developer credit enhancements for Public Financing must be without recourse to the City’s General Fund or the Agency’s general funds or other assets (other than Net Available Increment to the extent pledged to the payment of Public Financing obligations). Any financial institution issuing a credit enhancement must have a rating of at least “A” from Xxxxx’x Investors Service or Standard & Poor’s, or the equivalent rating from any successor rating agency mutually acceptable to Developer and the Agency, on the date of issuance and at any later credit renewal date. Developer must provide substitute credit enhancements for any credit enhancement that does not meet this rating standard on a credit renewal date. If the fees (and replenishment of any draw or other use of the collateral for the obligation it secures) for any Developer credit enhancements will be reimbursable from funds other than Developer funds, they may be reimbursed from Project Special Taxes or Net Available Increment, as applicable, on a basis subordinate to any debt service and other annual costs for any related outstanding Public Financing.
