Refunding Indebtedness Clause Samples
Refunding Indebtedness. The Corporation may incur Refunding Indebtedness for the purpose of refunding (whether in advance of maturity or otherwise) any Outstanding Long-Term Indebtedness, if the Corporation determines that such refunding is in the best interest of the Corporation.
Refunding Indebtedness. Any portion of Long-Term Indebtedness for which Refunding Indebtedness or a commitment therefor (e.g., a forward purchase or delivery agreement) has been executed by the Corporation with a third-party financial institution or lender may, at the option of the Corporation, be included in the calculations of Debt Service Requirements and the other calculations hereunder in lieu of the Indebtedness or obligations to be refinanced or refunded even if such refunding or refinancing has not yet occurred, and thereafter the refunded indebtedness may, at the option of the Corporation, be excluded from such calculations.