IDB Bonds definition
Examples of IDB Bonds in a sentence
All outstanding Indebtedness of the Company or its Subsidiaries, including under the IDB Bonds and Company Credit Agreement, may be prepaid at the option of the Company without prepayment penalty or premium.
The Company shall provide the IDB with, and the IDB’s certificate may be premised on, a certificate of an appropriate officer, employee or agent of or consultant to the Company setting forth the reasonable expectations of the Company as of the Issue Date regarding the amount and use of the proceeds of the IDB Bonds and the facts, estimates and circumstances on which those expectations are based.
All Basic Rent so prepaid shall be credited against future payments of Basic Rent as the same become due unless prior to the date on which such credit is to be taken the Company directs such moneys to be used to purchase or redeem IDB Bonds in the manner and to the extent permitted and provided in the IDB Indenture.
The amount necessary to redeem IDB Bonds shall be deemed to include, in addition to the redemption price, all expenses necessary to effect the redemption and, if all IDB Bonds are to be redeemed, all other obligations under the IDB Indenture, including the Trustee’s and other Fiduciaries’ fees, charges and expenses.
Within 20 days after each Computation Date, the Company shall calculate with respect to the IDB Bonds the amount of Excess Earnings as of that Computation Date and shall notify the Trustee of that amount, whereupon the Trustee shall notify the Company in writing of the amount then on deposit in the Rebate Fund.
Notwithstanding the foregoing, if the Company shall determine that such repair, restoration or rebuilding is not, in whole or in part, economically viable, then the Company may exercise its option to redeem IDB Bonds in accordance with their terms, in which case the Net Proceeds (or such portion thereof as is allocable to the portion of the Project not being repaired, restored or rebuilt) shall be applied to such redemption.
The Bonds are being issued simultaneously with the issuance by the IDB, in accordance with the Act and the Code, of the IDB Bonds, which have terms and provisions substantially similar to those of the Bonds and the proceeds of which are also being applied to pay Project Costs.
If the Trustee makes such a declaration with respect to the Bonds, the Trustee shall simultaneously make such a declaration with respect to the IDB Bonds, if the same are then outstanding under the IDB Indenture.
Notwithstanding the foregoing, if the Company shall determine that such restoration or acquisition is not, in whole or in part, economically viable, then the Company may exercise its option to redeem IDB Bonds in accordance with their terms, in which case the Net Proceeds (or such portion thereof as is allocable to the portion of the Project not being restored) shall be applied to such redemption.
So long as any of the IDB Bonds are outstanding, this Lease Agreement may be amended only with the consent of the IDB and the Trustee and subject to the provisions of Article VII of the IDB Indenture.