Powers as to Bonds and Pledge Sample Clauses

Powers as to Bonds and Pledge. The Corporation is duly authorized to create and issue the Bonds, to execute the Indenture and each Supplemental Indenture and to pledge and assign the Trust Estate in the manner and to the extent provided herein and therein. The Corporation further covenants that the Trust Estate is and shall be free and clear of any pledge, lien, charge or encumbrance thereon or with respect thereto, prior to, or of equal rank with, the pledge created hereby. The Corporation further covenants that all corporate action on the part of the Corporation to that end has been duly and validly taken. The Corporation further covenants that the Bonds and the provisions hereof and of each Supplemental Indenture are and shall be the valid and legally enforceable obligations of the Corporation in accordance with their terms and the terms hereof and of each Supplemental Indenture. The Corporation further covenants that it shall at all times, to the extent permitted by law, defend, preserve and protect the pledge of the Trust Estate and all of the rights of the Holders of Bonds under the Indenture and each Supplemental Indenture against all claims and demands of all persons whomsoever.
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Powers as to Bonds and Pledge. The Trust is duly authorized under the Act and all applicable laws to create and issue the Bonds and to adopt this Trust Agreement and to pledge and grant a security interest in the Loans, Revenues and other property purported to be pledged by this Trust Agreement in the manner and to the extent provided in this Trust Agreement. The Loans, Revenues and other property so pledged are and will be free and clear of any pledge, lien, charge or encumbrance thereon or with respect thereto prior to, or of equal rank with, the pledge created by this Trust Agreement except to the extent expressly permitted hereby. The Trust shall at all times, to the extent permitted by law, defend, preserve and protect the pledge of the Trust Estate and other property pledged under this Trust Agreement and all the rights of the Owners under this Trust Agreement against all claims and demands of all persons whomsoever. Nothing in this Section shall be deemed to limit the right of the Trust, and the Trust hereby expressly retains the right, to create a pledge, lien or other charge on the Trust Estate pledged hereunder junior and subordinate to the pledge and lien created hereby; provided that such lien shall be subject to the transfers required by Section 5.6(E) and Section 5.7(E) hereof.
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Powers as to Bonds and Pledge. The State is duly authorized under the Act and all applicable laws to create and issue Bonds hereunder and to adopt this Trust Agreement and to pledge the Pledged Funds in the manner and to the extent provided in this Trust Agreement. The Pledged Funds are and will be free and clear of any pledge, lien, charge or encumbrance thereon with respect thereto prior to, or of equal rank with, the pledge created by this Trust Agreement. The State shall at all times, to the extent permitted by law, defend, preserve and protect the pledge of the Pledged Funds under this Trust Agreement and all the rights of the Bondholders under this Trust Agreement against all claims and demands of all persons, whomsoever.
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Powers as to Bonds and Pledge. The Corporation is duly authorized to create and issue the Bonds, to execute the Indenture and each Supplemental Indenture and to pledge and assign the Trust Estate in the manner and to the extent provided herein and therein. The Corporation further covenants that the Trust Estate is and shall be free and clear of any pledge, lien, charge or encumbrance thereon or with respect thereto, prior to, or of equal rank with, the pledge created hereby, other than any pledge, lien, charge or encumbrance thereon created by the Corporation to secure its obligations to a Provider of a Credit Facility or a Liquidity Facility, which may be of equal priority and rank with the charge and lien thereon created hereby. The Corporation further covenants that all corporate action on the part of the Corporation to that end has been duly and validly taken. The Corporation further covenants that the Bonds and the provisions hereof and of each Supplemental Indenture are and shall be the valid and legally enforceable obligations of the Corporation in accordance with their terms and the terms hereof and of each Supplemental Indenture. The Corporation further covenants that it shall at all times, to the extent permitted by law, defend, preserve and protect the pledge of the Trust Estate and all of the rights of the Holders of Bonds under the Indenture and each Supplemental Indenture against all claims and demands of all persons whomsoever.
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Powers as to Bonds and Pledge. The Issuer is duly authorized pursuant to law to authorize and issue the Bonds, to enter into this Indenture and to pledge, assign, transfer and set over unto the Trustee in trust the Trust Estate herein purported to be so pledged, assigned, transferred and set over unto the Trustee in trust hereby in the manner and to the extent provided herein. The Trust Estate so pledged, assigned, transferred and set over in trust is and will be free and clear of any pledge, lien, charge or encumbrance thereon with respect thereto prior to, or of equal rank with, the pledge and assignment in trust created hereby, and all action on the part of the Issuer to that end has been duly and validly taken. The Bonds and the provisions hereof are and will be the valid and binding limited obligations of the Issuer in accordance with their terms and the terms hereof. The Bonds shall not be deemed to constitute a debt or liability of the State or any political subdivision thereof, other than the Issuer to the limited extent herein provided, or a pledge of the faith and credit or the taxing power of the State or of any such political subdivision, but shall be payable solely from funds provided therefor pursuant hereto. The Issuer has no taxing power.
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Powers as to Bonds and Pledge. The Authority is duly authorized under the Act and all applicable laws to create and issue Bonds hereunder and to adopt this Trust Agreement and to pledge the Trust Estate purported to be pledged by this Trust Agreement in the manner and to the extent provided in this Trust Agreement. The Trust Estate so pledged is and will be free and clear of any pledge, lien, charge or encumbrance thereon with respect thereto prior to, or of equal rank with, the pledge created by this Trust Agreement except to the extent expressly permitted hereby. The Authority shall at all times, to the extent permitted by law, defend, preserve and protect the pledge of the Trust Estate pledged under this Trust Agreement and all the rights of the Registered Owners and, to the extent provided herein, each Hedge Provider under this Trust Agreement against all claims and demands of all persons whomsoever. Without limiting the generality of the foregoing, the Authority agrees, so long as any Bonds remain Outstanding or any Reimbursement Obligations, Qualified Hedge Payments or Bond Related Costs remain unpaid or not provided for, (i) not to authorize the transfer of any excess amount from the SMART Fund to the Commonwealth if any portion of such amount was derived from the Dedicated Sales Tax Revenue Amount or the Phase-in Amount or if such transfer would in any way diminish the Authority’s right or ability to receive Pledged Receipts and (ii) not to make any determination pursuant to paragraph (f) of Section 35BB of Chapter 10 of the Massachusetts General Laws that Pledged Receipts are unnecessary for the purposes for which they have been pledged so as to permit a reduction in the rate of the excises imposed by Chapter 64H and Chapter 64I of the Massachusetts General Laws below the rate prescribed by said Section 35BB.
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Powers as to Bonds and Pledge. The CorporatioTh is duly authorized to create aThd issue the BoThds, to execute the IThdeThture aThd each SupplemeThtal IThdeThture aThd to pledge aThd assign the Trust Estate iTh the maThTher aThd to the exteTht provided hereiTh aThd thereiTh. The CorporatioTh further coveThaThts that the Trust Estate is aThd shall be free aThd clear of aThy pledge, lieTh, charge or eThcumbraThce thereoTh or with respect thereto that is prior to or of equal raThk with the pledge created hereby, other thaTh aThy pledge, lieTh, charge or eThcumbraThce thereoTh created by the CorporatioTh to secure aThy Parity ReimbursemeTht ObligatioThs aThd to make Hedge AeemeTht PaymeThts, which may as expressly provided hereiTh be of equal priority aThd raThk with the charge aThd lieTh thereoTh created hereby for paymeTht of the BoThds of the Priority to which such Parity ReimbursemeTht ObligatioTh or Hedge AeemeTht PaymeThts relate. The CorporatioTh further coveThaThts that all corporate actioTh oTh the part of the CorporatioTh to that eThd has beeTh duly aThd validly takeTh. The CorporatioTh further coveThaThts that the BoThds aThd the provisioThs hereof aThd of each SupplemeThtal IThdeThture are aThd shall be the valid aThd legally eThforceable obligatioThs of the CorporatioTh iTh accordaThce with their terms aThd the terms hereof aThd of each SupplemeThtal IndeThture. The CorporatioTh further coveThaThts that it shall at all times, to the exteTht permitted by law, defeThd, preserve aThd protect the pledge of the Trust Estate and all of the rights of the Holders of Bonds under the Indenture and each Supplemental Indenture against all claims and demands of all persons whomsoever.
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Related to Powers as to Bonds and Pledge

  • Authorization of Receipt of Funds by the Trustee Under the Security Documents Subject to the provisions of the Intercreditor Agreement, the Trustee is authorized to receive any funds for the benefit of the Holders distributed under the Security Documents, and to make further distributions of such funds to the Holders according to the provisions of this Indenture.

  • Discretion of Banks as to Manner of Funding Notwithstanding any provision of this Agreement to the contrary, each Bank shall be entitled to fund and maintain its funding of all or any part of its Loans in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder shall be made as if such Bank had actually funded and maintained each Eurodollar Loan during each Interest Period for such Loan through the purchase of deposits having a maturity corresponding to such Interest Period and bearing an interest rate equal to the Eurodollar Rate for such Interest Period.

  • Authorization of Receipt of Funds by the Trustee Under the Collateral Documents Subject to the provisions of the Intercreditor Agreements, the Trustee is authorized to receive any funds for the benefit of the Holders distributed under the Collateral Documents, and to make further distributions of such funds to the Holders according to the provisions of this Indenture.

  • Amendments to Note Purchase Agreement Subject to the satisfaction of the conditions precedent set forth herein and in reliance on the representations, warranties and covenants of the Companies set forth herein and in the Note Purchase Agreement, each party hereto hereby agrees that the Note Purchase Agreement be and hereby is, amended as follows:

  • Consolidation of Future Advances Any future advances made prior to the related Cut-off Date have been consolidated with the outstanding principal amount secured by the Mortgage, and the secured principal amount, as consolidated, bears a single interest rate and single repayment term. The lien of the Mortgage securing the consolidated principal amount is expressly insured as having first lien priority by a title insurance policy, an endorsement to the policy insuring the mortgagee's consolidated interest or by other title evidence acceptable to Xxxxxx Xxx or Xxxxxxx Mac. The consolidated principal amount does not exceed the original principal amount of the Mortgage Loan;

  • Amendments to Notes The Notes are hereby amended to delete all provisions inconsistent with the amendments to the Indenture effected by this Supplemental Indenture.

  • Discretion of Lenders as to Manner of Funding Notwithstanding any provision of this Agreement to the contrary, each Lender shall be entitled to fund and maintain its funding of all or any part of its Loans in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder shall be made as if such Lender had actually funded and maintained each LIBOR Loan during each Interest Period for such Loan through the purchase of deposits having a maturity corresponding to such Interest Period and bearing an interest rate equal to the LIBOR Rate for such Interest Period.

  • Amendments to Servicing Agreements, Modification of Standard Provisions (a) Subject to the prior written consent of the Trustee pursuant to Section 3.07(b), the Master Servicer from time to time may, to the extent permitted by the applicable Servicing Agreement, make such modifications and amendments to such Servicing Agreement as the Master Servicer deems necessary or appropriate to confirm or carry out more fully the intent and purpose of such Servicing Agreement and the duties, responsibilities and obligations to be performed by the Servicer thereunder. Such modifications may only be made if they are consistent with the REMIC Provisions, as evidenced by an Opinion of Counsel. Prior to the issuance of any modification or amendment, the Master Servicer shall deliver to the Trustee such Opinion of Counsel and an Officer's Certificate setting forth (i) the provision that is to be modified or amended, (ii) the modification or amendment that the Master Servicer desires to issue and (iii) the reason or reasons for such proposed amendment or modification.

  • Discretion of Bank as to Manner of Funding Notwithstanding any other provision of this Agreement, each Bank shall be entitled to fund and maintain its funding of all or any part of its Loans in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder shall be made as if each Bank had actually funded and maintained each Eurodollar Loan through the purchase of deposits in the eurodollar interbank market having a maturity corresponding to such Loan’s Interest Period and bearing an interest rate equal to LIBOR for such Interest Period.

  • Ratification of Original Indenture The Original Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Original Indenture in the manner and to the extent herein and therein provided. For the avoidance of doubt, each of the Company and each Holder of the Notes, by its acceptance of such Notes, acknowledges and agrees that all of the rights, privileges, protections, immunities and benefits afforded to the Trustee and the Paying Agent under the Original Indenture are deemed to be incorporated herein, and shall be enforceable by the Trustee and the Paying Agent hereunder, as if set forth herein in full. U.S. Bank National Association hereby accepts the trusts in this Supplemental Indenture declared and provided, upon the terms and conditions herein above set forth.

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