Issue of Bonds and Security Sample Clauses

Issue of Bonds and Security. The Company has duly authorized the issuance and delivery of $30,000,000 in aggregate principal amount of its First Mortgage Bonds, 7.19% Series E, Due 2012 (collectively, the "Bonds"), to be issued under and secured by that certain Indenture of Mortgage and Deed of Trust dated as of July 1, 1989 (the "Original Indenture") by and between the Company and Fleet National Bank (formerly known as The Connecticut National Bank), as Trustee (the "Trustee"), as supplemented and amended and as to be supplemented and amended by a Fourth Supplemental Indenture dated as of April 1, 1997 (the "Supplemental Indenture") which will be substantially in the form attached hereto as Exhibit A, but with such changes therein, if any, as may be agreed upon by you and the Company, and will be entitled to the benefits thereof. The Original Indenture, as heretofore supplemented and amended including, without limitation, by the Supplemental Indenture, is hereinafter referred to as the "Indenture." The terms of the Bonds shall be substantially as set forth in Exhibit A to the Supplemental Indenture and will be dated the date of issuance thereof; will be in the amount of $250,000 or any amount in excess thereof that is an integral multiple of $5,000; will bear interest on the unpaid principal balance thereof from the date of the Bonds at the rate of 7.19% per annum, payable semiannually on the first day of each April 1 and October 1 in each year, commencing on October 1, 1997, until the principal amount thereof becomes due and payable; and will bear interest on overdue principal (including any optional prepayment of principal) and premium, if any, and (to the extent legally enforceable) on any overdue installment of interest at a rate equal to the lesser of (a) the highest rate allowed by applicable law or (b) the higher of (i) the Prime Rate or (ii) 8.19% per annum after the due date, whether by acceleration or otherwise, until paid; and will be expressed to mature on April 1, 2012. Interest on the Bonds shall be computed on the basis of a 360-day year of twelve 30-day months. The Bonds are not subject to prepayment or redemption prior to their expressed maturity date except on the terms and conditions and in the amounts and with the premium, if any, set forth in Section 2.02 of the Supplemental Indenture (Sinking Fund Installments and Mandatory Redemptions) and in Section 2.03 of the Supplemental Indenture (Optional Redemption). The Indenture creates and will create a first mortgage...
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Issue of Bonds and Security. Section 1.2. Sale of Bonds Section 1.3. Purchase for Investment Section 1.4.
Sample 1

Related to Issue of Bonds and Security

  • Borrowing and Security To borrow funds and to mortgage and pledge the assets of the Trust or any part thereof to secure obligations arising in connection with such borrowing;

  • Sale of Notes and Securitization Borrower acknowledges and agrees that the Lender may sell all or any portion of the Loan and the Loan Documents, or issue one or more participations therein, or consummate one or more private or public securitizations of rated single- or multi-class securities (the “Securities”) secured by or evidencing ownership interests in all or any portion of the Loan and the Loan Documents or a pool of assets that include the Loan and the Loan Documents (such sales, participations and/or securitizations, collectively, a “Securitization”). At the request of Lender, and to the extent not already required to be provided by Borrower under this Agreement, Borrower shall use reasonable efforts to provide information not in the possession of Lender or which may be reasonably required by Lender in order to satisfy the market standards to which Lender customarily adheres or which may be reasonably required by prospective investors and/or the Rating Agencies in connection with any such Securitization including, without limitation, to:

  • Issuance of Bonds Subject to the satisfaction of and compliance with all of the provisions, covenants and requirements of this Agreement, in order to provide funds for the payment of the Project Costs, the Issuer has authorized the issuance and delivery of the Bonds to the Initial Purchaser in accordance with the Indenture.

  • Redemption of Bonds The Authority shall take, or cause to be taken, the actions required by the Indenture to discharge the lien created thereby through the redemption, or provision for payment or redemption, of all Bonds then Outstanding, or to effect the redemption, or provision for payment or redemption, of less than all the Bonds then Outstanding, upon receipt by the Authority and the Trustee from the Company of a notice designating the principal amount of the Bonds to be redeemed, or for the payment or redemption of which provision is to be made, and, in the case of redemption of Bonds, or provision therefor, specifying the date of redemption and the applicable redemption provision of the Indenture. Such redemption date shall not be less than 45 days from the date such notice is given (unless a shorter notice is satisfactory to the Trustee). Unless otherwise stated therein, such notice shall be revocable by the Company at any time prior to the time at which the Bonds to be redeemed, or for the payment or redemption of which provision is to be made, are first deemed to be paid in accordance with Article VIII of the Indenture. The Company shall furnish any moneys or Government Obligations (as defined in the Indenture) required by the Indenture to be deposited with the Trustee or otherwise paid by the Authority in connection with any of the foregoing purposes.

  • Collateral and Security Section 10.01

  • Purchase of Bonds The Company may at any time, and from time to time, furnish moneys to the Trustee accompanied by a notice directing the Trustee to apply such moneys to the purchase in the open market of Bonds in the principal amounts specified in such notice, and any Bonds so purchased shall thereupon be canceled by the Trustee.

  • Issuance of Additional Notes The Company may, subject to Article Four of this Indenture, issue additional Notes under this Indenture. The Notes issued on the Closing Date and any additional Notes subsequently issued shall be treated as a single class for all purposes under this Indenture.

  • Password and Security If you are issued or create any password or other credentials to access the Service or the portion of the Site through which the Service is offered, you agree not to give or make available your password or credentials to any unauthorized individuals, and you agree to be responsible for all actions taken by anyone to whom you have provided such credentials. If you believe that your credentials have been lost or stolen or that someone may attempt to use them to access the Site or Service without your consent, you must inform us at once at the telephone number provided in Section 6 of the General Terms above. See also Section 16 of the General Terms above regarding how the timeliness of your notice impacts your liability for unauthorized transfers.

  • Access and Security Customer shall employ all physical, administrative and technical controls, screening and security procedures and other safeguards necessary to: (a) securely administer the distribution and use of all Access Credentials and protect against any unauthorized access to or use of the Hosted Services; and (b) control the content and use of Customer Data, including the uploading or other provision of Customer Data for Processing by the Hosted Services.

  • Ranking of Notes No Indebtedness of the Company, at the Closing, will be senior to, or pari passu with, the Notes in right of payment, whether with respect to payment or redemptions, interest, damages, upon liquidation or dissolution or otherwise.

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