Alternate Credit Facility definition

Alternate Credit Facility means any irrevocable direct pay letter of credit, insurance policy or similar credit enhancement or support facility for the benefit of the Trustee, the terms of which Alternate Credit Facility shall in all respects material to the registered owners of the Bonds be the same (except for the term set forth in such Alternate Credit Facility) as those of the Letter of Credit.

Alternate Credit Facility means an Alternate Credit Facility as defined in the Indenture.

Alternate Credit Facility means a Credit Facility issued as the successor to the Letter of Credit as provided in the Trust Indenture. Such Credit Facility may be an insurance policy.]

Examples of Alternate Credit Facility in a sentence

• It is hereby clarified that accepting an Alternate Credit Facility by the Company shall not release Lender’s obligation to extend the remaining Funds going forward and shall only decrease the aggregate Funding obligation taken as a whole (i.e., if the Company receives USD Two Million (USD 2,000,000) pursuant to the Alternate Credit Facility during the Availability Period than the Lender’s funding obligation under the Loan, in aggregate, shall be reduced to USD Four Million (USD 4,000,000)).

• It is further agreed that in any event the Lender shall remain liable to provide any amounts which were not actually received due to the Alternate Credit Facility as result of failure of the alternate creditor.

• Alternate Credit Facility Although it is not expected that the City would replace the initial Credit Facility, the Ordinance permits the City to do so in certain circumstances provided that a mandatory tender first occurs and other conditions specified in the Ordinance are met.

• Subject to the signing of the Alternate Credit Facility, the Borrower shall have the right to convert pursuant to Clause 11.

More Definitions of Alternate Credit Facility

Alternate Credit Facility means a letter of credit or similar obligation, arrangement, or instrument issued or provided by a bank, insurance company, or other financial institution that provides (to the extent and subject to the terms and conditions set forth therein) credit enhancement for payment of principal of and interest on the 2015 GR-2 Notes when the same become due and payable during the term thereof and is issued in substitution for the Letter of Credit in accordance with, and pursuant to, Section 6.3 hereof, as the same may be amended or supplemented from time to time.

Alternate Credit Facility means an irrevocable direct pay letter of credit, insurance policy or similar credit enhancement or support facility for the benefit of the Trustee, the terms of which Alternate Credit Facility shall in all respects material to the Bondholders be the same (except for the term set forth in such Alternate Credit Facility) as the Letter of Credit.

Alternate Credit Facility means an irrevocable letter of credit or other credit facility described in Section 6.03(b)(1) hereof delivered pursuant to such Section in substitution for a Letter of Credit, as extended or amended from time to time.

Alternate Credit Facility shall have the meaning assigned to such term in the Indenture.

Alternate Credit Facility means any credit facility, including any instruments accompanying or relating to such Alternate Credit Facility delivered to the Trustee in connection therewith, provided in accordance with Section 4.5 of this Agreement.

Alternate Credit Facility means any direct pay letter of credit or other credit enhancement or support facility that has terms which are the same in all material respects (except for the term and maximum interest rate but including coverage of accrued interest on the Bonds for 98 days if the Bonds bear interest at the Weekly Rate or for 183 days if the Bonds bear interest at the Semi-Annual Rate or the Long-Term Rate) as the then current Credit Facility and (A) shall have a term of not less than one year, (except if the Long-Term Rate shall then be in effect, the term of such Alternate Credit Facility shall not expire prior to (a) the first par redemption date plus 15 days or (b) the first redemption date plus 15 days if the Alternate Credit Facility covers the redemption premium) (B) shall be issued by a bank, a trust company or other financial institution or credit provider, and (C) with respect to which the Trustee shall have received the opinions required by Section 408(F) of the Indenture.

Alternate Credit Facility means any alternate credit facility designated and qualified as such and provided pursuant to Section 706 hereof no later than the twenty-fifth (25th) day prior to the then applicable Termination Date.