Bond Letter of Credit definition

Bond Letter of Credit means any standby or direct pay letter of credit issued by an LC Issuing Bank pursuant to Section 2.04 to support certain obligations to pay the principal of, interest on and/or purchase or redemption price of Bonds.

Bond Letter of Credit means any Letter of Credit issued to support certain obligations to pay the principal of, interest on and/or purchase or redemption price of Bonds.’

Bond Letter of Credit means irrevocable letter of credit No. S113181 issued by First Union National Bank (now Xxxxx Fargo) in the original face amount of $24,128,548 for the account of the OLP “B” and for the benefit of Trustee.

Examples of Bond Letter of Credit in a sentence

• So long as any Bond Letter of Credit shall remain outstanding, cause each Bond purchased with the proceeds of such Bond Letter of Credit to be subject to the Lien of an applicable Pledge Agreement or otherwise registered in the name of the applicable LC Issuing Bank, the Administrative Agent or any nominee of such LC Issuing Bank or of the Administrative Agent pending the remarketing of such Bonds pursuant to the applicable Remarketing Agreement and the other applicable Related Documents.

• So long as any Bond Letter of Credit shall remain outstanding, permit any proceeds of such Bond Letter of Credit to be used for any purpose other than the payment of the principal of, interest on, redemption price of and purchase price of the applicable Bonds.

• So long as any Bond Letter of Credit shall remain outstanding, refer to the applicable LC Issuing Bank in the Official Statement with respect to the applicable Bonds or make any changes in reference to such LC Issuing Bank in any revision, amendment or supplement without the prior consent of such LC Issuing Bank, or revise, amend or supplement such Official Statement without providing a copy of such revision, amendment or supplement, as the case may be, to such LC Issuing Bank.

• If such Request for Issuance relates to an amendment or modification of a Letter of Credit, it shall be accompanied by the consent of the beneficiary of the Letter of Credit thereto (except in the case of an extension of the Stated Expiry Date of any Bond Letter of Credit where no consent of the beneficiary is required for such extension).

• Without limiting the foregoing, any LC Issuing Bank that issues a Bond Letter of Credit agrees that (i) all Bonds pledged to such LC Issuing Bank pursuant to any applicable Pledge Agreement or otherwise registered in the name of such LC Issuing Bank pursuant to the other Related Document will be held for the benefit of such LC Issuing Bank and the Lenders and (ii) to apply and/or remit all proceeds from the sale or remarketing of such Bonds in accordance with Section 2.17(f).

More Definitions of Bond Letter of Credit

Bond Letter of Credit each irrevocable direct pay letter of credit to be issued by the Issuing Bank in favor of the Bond Trustee on any Business Day during the Construction Period pursuant to Section 5.1(a) of the Project Loan Agreement, substantially in the form of Exhibit C-3 to the Project Loan Agreement (with such changes therein as shall be acceptable to the Issuing Bank and the Majority Banks), as amended, supplemented or otherwise modified from time to time in accordance with its terms, and any replacement therefor issued pursuant to Section 5.2(b) of the Project Loan Agreement.

Bond Letter of Credit means the letter of credit issued by the Bank in the face amount of $4,138,083.00 pursuant to the Reimbursement Agreement.

Bond Letter of Credit means the irrevocable transferable letter of credit in the initial stated amount of Eight Million Seventy-Six Thousand Seven Hundred Thirteen Dollars ($8,076,713) issued by Xxxxxx X.X. (as successor by merger to Xxxxxx Trust and Savings Bank) to secure the payment of the Bonds.

Bond Letter of Credit any letter of credit issued by the Issuing Lender under this Agreement to a Bond Trustee to support the payment of the principal of, premium, if any, and interest on any Bonds issued for the account or benefit of the Borrower or a Subsidiary of the Borrower, or to support the obligation of the Borrower or a Subsidiary of the Borrower, to purchase any such Bonds upon any tender for purchase pursuant to any of the Bond Documents relating thereto.

Bond Letter of Credit means an irrevocable, transferable letter of credit issued for the benefit of the Holders of any Bonds, pursuant to which the issuer of such letter of credit is obligated to pay when due the principal of and interest on such Bonds to the extent of any deficiency in the amounts in the funds and accounts held under the Trust Agreement, in the manner and in accordance with the terms provided in such letter of credit. The issuer of such letter of credit shall be a banking association, bank or trust company or branch thereof whose letter of credit results in the Bonds which are secured by such letter of credit being rated in one of the two highest rating categories by each Rating Agency which has a rating outstanding on such Bonds.

Bond Letter of Credit means the $7,470,934.90 Irrevocable Letter of Credit issued by Bank Austria AG backing payment of the $7,365,000 Forsyth County Development Authority Industrial Development Revenue Bonds (World Access, Inc. Project), Series 1998.

Bond Letter of Credit means “Bond Letter of Credit” as defined in the CIT Financing Agreement. Bond Order shall mean that certain Bond Order, adopted October 31, 1989, Authorizing and Securing Piedmont Triad Airport Authority Special Facility Revenue Bonds (Triad International Maintenance Corporation Project).