Examples of Authority Notes in a sentence
Such supplemental agreement shall not become effective unless there shall be filed with the Trustee the written consent of the Owners of at least a majority in aggregate principal amount of the Authority Notes then Outstanding (exclusive of Authority Notes disqualified as provided in Section 10.02 hereof) and each Credit Provider and each Supplemental Credit Enhancer, and notices shall have been mailed as hereinafter in this section provided.
Each such consent shall be effective only if accompanied by proof of ownership of the Authority Notes for which such consent is given, which proof shall be acceptable to the Trustee.
The Authority Notes may, but need not bear the seal of the Authority, if any.
This Indenture and the Authority Notes shall be construed in accordance with and governed by the laws of the State of California applicable to contracts made and performed in the State of California.
The Trustee, on each Interest Payment Date, shall transfer from the applicable Payment Accounts to the applicable Interest Account, that amount of money representing the interest becoming due and payable on the related Series of Authority Notes on such Interest Payment Date.
The Authority, the Participants, each Credit Provider, each Supplemental Credit Enhancer, if any, the Owner of any Authority Notes shall have no rights in or claim to such money.
The Authority Notes shall be executed by the Chairperson of the Authority, or by such other persons as shall have been authorized by resolution of the Authority to execute and attest the Authority Notes, by manual or facsimile signature and shall be authenticated by the Trustee by the manual signature of an authorized officer of the Trustee.
All such Series of Authority Notes shall be labeled by the Trustee as not transferable to any person other than the Authority, the Participants or such Supplemental Credit Enhancer or Credit Provider, as applicable.
Any such consent shall be binding upon the Owner of the Authority Note giving such consent and on any subsequent Owner (whether or not such subsequent Owner has notice thereof) unless such consent is revoked in writing by the Owner giving such consent or a subsequent Owner by filing such revocation with the Trustee prior to the date when the Trustee has received the required percentage of consents of the Owners of the Authority Notes and acknowledged the same to the Participants.
All money in each Interest Account shall be used and withdrawn by the Trustee solely for the purpose of paying the interest on the related Series of Authority Notes on their respective Interest Payment Dates.