EVALUATION OF BONDS Sample Clauses

EVALUATION OF BONDS. The Evaluator shall determine separately and promptly furnish to the Trustee and the Depositor (if separate from the Evaluator) upon request the value of each issue of Bonds (treating separate maturities of Bonds as separate issues) as of the Evaluation Time on the bid side of the market on the days on which the Trust Fund Evaluation is required by Section 5.01, and, in addition, as of the Evaluation Time on the bid side of the market if the secondary market in the Units is maintained based on bid side values or on both the bid and offering sides, if the Depositor shall so inform the Evaluator from time to time, such additional evaluation being on each business day commencing with the date of the Trust Agreement. Such evaluations shall be made (i) on the basis of current bid or offering prices for the Bonds, (ii) if bid or offering prices are not available for any Bonds, on the basis of current bid or offering prices for comparable bonds, (iii) by determining the value of the Bonds on the bid or offering side of the market by appraisal or (iv) by any combination thereof. The Evaluator shall also determine and furnish to the Trustee and the Depositor the aggregate of (a) the value of all Bonds on the basis of such evaluation and (b) on the basis of the information furnished to the Evaluator by the Trustee pursuant to Section 3.11, the amount of cash then held in the Principal Account which was received by the Trustee after the Record Date preceding such determination less any amounts held in the Principal Account for distribution to Unitholders on a subsequent Distribution Date when a Record Date occurs two business days or less after such determination. For the purposes of the foregoing, the Evaluator may obtain current bid or offering prices for the Bonds from investment dealers or brokers (including the Depositor) that customarily deal in similar bonds or from any other reporting service or sources of information which the Evaluator deems appropriate. The Evaluator shall attribute value to Insurance only in circumstances where the credit quality of an underlying Bond has significantly deteriorated. The value to be added to such Bonds shall be an amount equal to the excess, if any, by which the net proceeds realizable from the sale of the Bonds on an insured basis exceeds the sum of (i) the net proceeds realizable from the sale of the Bonds on an uninsured basis plus (ii) the premium attributable to the Permanent Insurance.
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Related to EVALUATION OF BONDS

  • Execution of Notes Notes shall be signed in the name and on behalf of the Issuer by the manual or facsimile signature of an Officer. The Trustee will, upon receipt of an Authentication Order, authenticate Notes for original issue that may be validly issued under this Indenture, including any Additional Notes. The aggregate principal amount of Notes outstanding at any time may not exceed the aggregate principal amount of Notes authorized for issuance by the Issuer pursuant to one or more Authentication Orders, except as provided in Sections 2.07 and 2.08 hereof. Only such Notes as shall bear thereon a certificate of authentication substantially in the form set forth on the form of Notes attached as Exhibit A1 hereto, executed manually by the Trustee (or an authenticating agent appointed by the Trustee as provided by Section 16.11), shall be entitled to the benefits of this Indenture or be valid or obligatory for any purpose. Such certificate by the Trustee (or such an authenticating agent) upon any Note executed by the Issuer shall be conclusive evidence that the Note so authenticated has been duly authenticated and delivered hereunder and that the Holder is entitled to the benefits of this Indenture. In case any Officer who shall have signed any of the Notes shall cease to be such Officer before the Notes so signed shall have been authenticated and delivered by the Trustee, or disposed of by the Issuer, such Notes nevertheless may be authenticated and delivered or disposed of as though the person who signed such Notes had not ceased to be such Officer, and any Note may be signed on behalf of the Issuer by such persons as, at the actual date of the execution of such Note, shall be the proper Officers, although at the date of the execution of this Indenture any such person was not such an Officer.

  • Operation of Agreement This Agreement will be effective and binding immediately upon its execution, but, anything in this Agreement to the contrary notwithstanding, this Agreement will not be operative unless and until a Change in Control occurs. Upon the occurrence of a Change in Control at any time during the Term, without further action, this Agreement shall become immediately operative.

  • Evaluation of Risks The Investor has such knowledge and experience in financial tax and business matters as to be capable of evaluating the merits and risks of, and bearing the economic risks entailed by, an investment in the Company and of protecting its interests in connection with this transaction. It recognizes that its investment in the Company involves a high degree of risk.

  • Evidence of Compliance of Supplemental Indenture to Be Furnished to Trustee Prior to entering into any supplemental indenture pursuant to this Article 9, the Trustee shall be provided with an Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant hereto complies with the requirements of this Article 9 and is otherwise authorized or permitted by this Indenture.

  • Construction of Agreement The parties mutually acknowledge that they and their attorneys have participated in the preparation and negotiation of this Agreement. In cases of uncertainty this Agreement shall be construed without regard to which of the parties caused the uncertainty to exist.

  • Administration of Agreement 35 31. Severability.............................................................36 32.

  • Execution of Agreement This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement. The exchange of copies of this Agreement and of signature pages by facsimile transmission shall constitute effective execution and delivery of this Agreement as to the parties and may be used in lieu of the original Agreement for all purposes. Signatures of the parties transmitted by facsimile shall be deemed to be their original signatures for all purposes.

  • Execution of Agreement; Notes On or prior to the Initial Borrowing Date, (i) the Effective Date shall have occurred and (ii) there shall have been delivered to the Administrative Agent for the account of each Bank which has requested same the appropriate Term Note and Revolving Note, in each case executed by the Borrower and in the amount, maturity and as otherwise provided herein.

  • Assumption of Agreement Employer shall require any Successor thereto, by agreement in form and substance reasonably satisfactory to Executive, to expressly assume and agree to perform this Agreement in the same manner and to the same extent that Employer would be required to perform it if no such succession had taken place. Failure of Employer to obtain such agreement prior to the effectiveness of any such succession shall be a breach of this Agreement and shall entitle Executive to compensation from Employer in the same amount and on the same terms as Executive would be entitled hereunder if Employer had terminated Executive’s employment Without Cause as described in Section 7, except that for purposes of implementing the foregoing, the date on which any such succession becomes effective shall be deemed the Date of Termination.

  • Inspection of Agreement A copy of this Agreement shall be available at all reasonable times at the principal corporate trust office of the Warrant Agent for inspection by the holder of any Warrant Certificate. The Warrant Agent may require such holder to submit his Warrant Certificate for inspection by it.

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