Bond Advance definition
Examples of Bond Advance in a sentence
Project) dated December 4, 2012 in the aggregate principal amount of up to $35,000,000 pursuant to that certain Bond Advance Agreement and Assignment of Lease and Rental Payments, dated as of December 4, 2012.
One Series 2005A Bond for the Initial Series 2005A Bonds and, unless the Additional Bond Advance procedure is utilized at the direction of the Company, one Bond for each of the Additional Series 2005A Bonds, with the same final maturity date, shall be issued to DTC and immobilized in its custody.
The portion of each Bond Advance made by the Holder of a Bond, and the principal amount of the Bond outstanding from time to time, shall be recorded by the Registrar on the Register.
Accrued Activity Fee shall be due and payable from time to time on demand by ▇▇▇▇▇▇ Mae or the Loan Servicer, and without demand, shall be paid upon the reimbursement of any Bond Advance or the replenishment of any Withdrawal, as applicable.
The Activity Fee shall accrue daily for the period from (and including) the day ▇▇▇▇▇▇ Mae makes a Bond Advance or the Trustee makes the Withdrawal, as the case may be, to (but excluding) the day the reimbursement or replenishment is, or is deemed to be, fully paid.
For remittance to ▇▇▇▇▇▇ ▇▇▇, the amount of each Principal Advance, Interest Advance, Mandatory Purchased Bonds Advance and Issuer’s Fee Advance on the date on which ▇▇▇▇▇▇ Mae makes such Bond Advance.
The Register shall be conclusive, absent manifest error, as to the outstanding principal amount of each Bond, and the Registrar shall provide a copy of the portion of the Register that relates to a Bond to the Holder thereof promptly following the making by that Holder of a Bond Advance.
The making of each Bond Advance shall constitute a representation and warranty by the Obligors that the conditions set forth in SECTION 8 and SECTION 9 have been satisfied on the date of such Bond Advance.
If the amount of such Bank's Commitment Percentage for Bond of such Bond Advance is not made available to the Agent by such Bank within three (3) Business Days following such date, then the Agent shall be entitled to recover such amount from the Borrower on demand and to retain such amount, with interest thereon at the rate per annum applicable to the Bond Advance made on such date.
The representations and warranties contained in SECTION 5 hereof shall be true and correct in all material respects on the date hereof and on each date on which (a) the Obligors request a Loan hereunder and (b) the Obligors request a Bond Advance; and no event that constitutes or which with the mere giving of notice or lapse of time, or both, would constitute an Event of Default under this Credit Agreement shall have occurred and continued or shall exist on such date.