Issuance of Commercial Paper. (a) Subject to the provisions of this Section 2.01 and to Article VI hereof, so long as the Depositary is not in receipt of instructions then in effect from the Administrative Agent, given in accordance with this Section 2.01 and the Depositary Agreement, not to issue or deliver Commercial Paper because a No-Issuance Condition for Commercial Paper has occurred and is continuing, BAFC shall have the right prior to the Liquidity Commitment Expiration Date, from time to time to issue and sell Commercial Paper pursuant to the terms of this Agreement and the Depositary Agreement. Any instructions to cease Commercial Paper issuance from the Administrative Agent to the Depositary shall specify the event as being the reason to cease issuing and delivering Commercial Paper. The Administrative Agent agrees that it shall only instruct the Depositary not to issue or deliver Commercial Paper if there shall have occurred one or more of the events described in this subsection 2.01(a). If the Administrative Agent shall, as permitted by this subsection 2.01(a) and the Depositary Agreement, instruct the Depositary not to issue or deliver Commercial Paper, BAFC shall not thereafter issue and sell any Commercial Paper. Concurrently with the giving of any such instructions to the Depositary, the Administrative Agent shall give notice thereof to BAFC, the Servicer, the Collateral Agent, the Letter of Credit Agent, each Placement Agent and the Series 2000-1 Rating Agencies, but failure to do so shall not impair the effect of such instructions.
Issuance of Commercial Paper. (a) Subject to the provisions of this Section 2.01 and Article VI hereof, so long as the Company and the Depositary are not in receipt of instructions then in effect from the Liquidity Agent, given in accordance with this Section 2.01(a), not to issue or deliver Commercial Paper because (i) the Company shall have terminated the Liquidity Commitment hereunder pursuant to Section 4.02 hereof, or (ii) any of the conditions specified in clauses (d) or (e) of Section 6.02 hereof are not satisfied, or (iii) the issuance of Commercial Paper is prohibited by the provisions of Section 5.03 hereof, or (iv) the rating by any Rating Agency on the Commercial Paper shall be withdrawn or reduced below the Highest Short-Term Rating Category of such Rating Agency (provided that if such reduction or withdrawal occurs after the withdrawal or downgrading of a Liquidity Lender's rating by any Rating Agency, the Company shall not be prohibited from issuing Commercial Paper unless the Company shall not have replaced such downgraded Liquidity Lender or reduced such downgraded Liquidity Lender's Percentage of the Liquidity Commitment pursuant to Section 3.14 hereof, resulting in the Commercial Paper being rated in the Highest Short-Term Rating Category of each Rating Agency by the ninetieth day after the first date on which such rating of a Liquidity Lender was withdrawn or downgraded) or (v) any of the conditions set forth in clauses (a) or (b) of Section 6.02 hereof has not been satisfied, the Company shall have the right from time to time prior to the Liquidity Termination Date, and from time to time on and after the Effective Date, to issue and sell Commercial Paper pursuant to this Agreement and the Depositary Agreement. Any instructions from the Liquidity Agent to the Company and the Depositary in accordance with this Section 2.01(a) shall specify one or more of the events described in clauses (i) through (v) as being the reason(s) to cease issuing and delivering Commercial Paper. The Liquidity Agent agrees that it shall instruct the Company and the Depositary not to issue and sell Commercial Paper if there shall have occurred one or more of the events described in clauses (i) through (iii) of this Section 2.01(a). If the Liquidity Agent shall, as provided in this Section 2.01(a), instruct the Company and the Depositary not to issue or deliver Commercial Paper, the Company shall not thereafter issue or sell any Commercial Paper. Concurrently with the giving of any such instr...
Issuance of Commercial Paper. The Company may issue Commercial Paper Notes in accordance with the terms of the Financial Documents.
Issuance of Commercial Paper. Provided that the Liquidity Agreement is in full force and effect and subject to the terms and conditions of this Participation Agreement and the other Operative Documents, in order to fund its obligation to make the Loans to the Lessor pursuant to the Loan Agreement: (a) the Facility Lender shall (i) issue Commercial Paper Notes, the net proceeds of which are sufficient to make Loans in a principal amount equal to the amount of the Advance requested by the Lessee to be funded with Loan proceeds on each Funding Date, or (ii) request a Direct Funding Loan pursuant to the Liquidity Agreement in such principal amount; and
Issuance of Commercial Paper. SECTION 2.02 Commercial Paper Account; Payment of Commercial Paper.
Issuance of Commercial Paper. The Borrower shall not issue or deliver any Commercial Paper Notes except in accordance with the following provisions:
Issuance of Commercial Paper. (a) The Trust shall have the right to issue or deliver Commercial Paper from time to time on and after the Effective Date, unless (i) any condition precedent specified in Section 6.02 with respect to the issuance of Commercial Paper has not been satisfied or waived, (ii) the Commitment in its entirety has been terminated for any reason whatsoever in accordance with the terms of this Liquidity Agreement or (iii) the issuance of Commercial Paper is prohibited by the provisions of Section 2.01(c) or 2.01(d) hereof. If any of the events described in clauses (i) through (iii) of the immediately preceding sentence has occurred, then the Trust shall not issue or deliver Commercial Paper. Subject to compliance with the other terms of this Liquidity Agreement, the Trust shall use its commercially reasonable best efforts to issue Commercial Paper in amounts sufficient to (i) pay Commercial Paper as it matures and (ii) repay any Refunding Loans outstanding at the time of any such issuance.
Issuance of Commercial Paper. PARCO hereby covenants and agrees that all Commercial Paper issued by PARCO to fund all or a portion of the Outstanding Principal Amount shall have maturities not exceeding, from the date of issuance thereof, the lesser of 270 days and the number of days from and including such date of issuance to but excluding the fifth (5th) Business Day prior to the Commitment Expiry Date.
Issuance of Commercial Paper. (a) The Borrowers agree that they will issue Commercial Paper only in the manner, at the times and in the amounts provided for herein and in the Depositary Agreement. If such Commercial Paper is issued in the form of promissory notes, each note constituting Commercial Paper shall: (1) be substantially in the form of Exhibit G hereto and completed in accordance with the Depositary Agreement, (2) be dated the date of issuance thereof, (3) be made payable to the order of a named payee or bearer, (4) have a stated maturity date which shall not be later than the earlier to occur of (A) the 270th day next succeeding the date of its issuance or (B) the 16th day next preceding the Expiry Date, and (5) be issued on a discount basis in a Face Amount of at least $100,000. If such Commercial Paper is issued in book-entry form, issuance instructions are to be given to the Depositary to be given to DTC in accordance with the DTC Documents and must include the following information with respect to all such Commercial Paper: (1) the date of issuance thereof, (2) the maturity date (which shall not be later than the earlier to occur of (A) the 270th day next succeeding the date of its issuance or (B) the 16th day next preceding the Expiry Date) and (3) the Face Amount (which shall be an amount which is at least $100,000), the discount rate and amount of discount from the Face Amount.
Issuance of Commercial Paper. (a) All Commercial Paper issuance instructions shall be given to you as Depositary by a Company Agent by means of the electronic timesharing facility known as the "Citi Treasury Manager" (the "CTM"); provided, that such instructions may be given by telephone, by facsimile transmission, or in writing if the CTM is inoperative. The Companies acknowledge and agree that you have the right not to accept transactions through CTM as a result of communication line failure or security breach existing at CTM. In addition, the Companies further agree that the Companies shall pay any fees or expenses incurred by the Administrative Agent in connection with the Administrative Agent's use of and access to the CTM in connection with this Agreement. All such instructions given by telephone shall be given by a Company Agent and shall be promptly confirmed in writing or by telex or telecopy. It is understood that all telephonic instructions will be electronically voice-recorded by you, and the Companies and the Letter of Credit Issuer hereby consent to such recording. All issuance instructions given to you by telephone shall be immediately repeated back to the party giving such instructions to confirm that such instructions were correctly understood. In the event that a discrepancy exists between the telephone instructions and the written confirmation, the telephone instructions as recorded by you will be deemed to be the controlling and proper instructions. You shall incur no liability in acting hereunder upon telephone or other instructions contemplated hereby which the recipient thereof believed in good faith to have been given by a Company Agent or a Bank Officer. For purposes hereof, the "Face Amount" of any Commercial Paper, Commercial Paper Notes or Commercial Paper Obligations shall mean the amount thereof payable at the maturity thereof. Upon receipt of instructions in respect of Commercial Paper Notes, you shall withdraw the necessary consecutively numbered Commercial Paper Notes from safekeeping and, in accordance with the instructions so received, take the following action with respect to each such Commercial Paper Note:
