Liquidity Facilities. On the Initial Closing Date, the Issuer shall establish the Initial Liquidity Facility and thereafter, the Issuer may enter, from time to time, into one or more additional Liquidity Facility Agreements (each, an “Additional Liquidity Facility”) by entering into transaction documentation (the “Liquidity Facility Documents”) with one or more Additional Liquidity Facility Providers. The following conditions must be satisfied before the Issuer may establish an Additional Liquidity Facility:
Liquidity Facilities. 35 ARTICLE IV
Liquidity Facilities. 41 Section 3.07 The Policy................................................................................. 47 Section 3.08 Subrogation................................................................................ 51
Liquidity Facilities. The Issuer may establish one or more Liquidity Facilities in connection with the issuance of an Additional Series by entering into transaction documentation (the “Liquidity Facility Documents”) with one or more Liquidity Facility Providers. The following conditions must be satisfied before the Issuer establishes a Liquidity Facility:
Liquidity Facilities. Each Conduit Lender party hereto hereby represents that (i) pursuant to the Liquidity Agreement, such Conduit Lender has obtained a Liquidity Commitment from its Liquidity Provider(s) in an amount equal to 102% of the greater of (A) its Commitment from time to time in effect hereunder, and (B) its Percentage of the Aggregate Principal outstanding from time to time hereunder, and (ii) while the Liquidity Provider(s) may not be obligated to pay par for a Loan that is transferred to it pursuant to the Liquidity Agreement, the only condition precedent to any Liquidity Provider(s) obligation to pay the agreed-upon price thereunder is the absence of an Event of Bankruptcy with respect to such Conduit Lender.
Liquidity Facilities. 47- SECTION 3.7 The Policy . . . . . . . . . . . . . . . . . . . . . . . -54-
Liquidity Facilities. 38 SECTION 3.7. THE POLICY...................................................................................... 44
Liquidity Facilities. For so long as the Policy remains in effect or any Reimbursement Obligation or Premium remains unpaid, the Company will ensure that whenever a Bond bears interest at a rate (other than an Auction Rate (as defined in the Indenture)) that is not fixed to maturity, the obligation of the Company to purchase, or provide funds for the purchase of, such Bonds at the end of any interest rate period shall be supported by a standby bond purchase agreement or other liquidity facility from a provider, and on terms and conditions, acceptable to Ambac.
Liquidity Facilities. ..................................................................37
Liquidity Facilities. 27 Section 3.7 [Intentionally Left Blank]........................................................ 35 Indenture Table of Contents (cont.)
