Intercept Agreement definition

Intercept Agreement means the Intercept Agreement, dated the Closing Date, between the Governmental Unit and Finance Authority providing for the direct payment by the Distributing State Agency to the Finance Authority of Pledged Revenues in amounts sufficient to pay principal and interest due on the Loan Agreement, and any amendments or supplements to the Intercept Agreement.

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Intercept Agreement means the Intercept Agreement dated 2019, between the Governmental Unit and the Finance Authority (which becomes effective only upon the Governmental Unit’s failure to timely make Loan Agreement Payments as described in Section 5.2(a) of this Loan Agreement) providing for the direct payment by the Distributing State Agency to the Finance Authority of the Pledged Revenues in amounts sufficient to pay Loan Agreement Payments, and any amendments or supplements to the Intercept Agreement.

Intercept Agreement means the Intercept Agreement dated as of October 31, 2002, as amended and supplemented.

Examples of Intercept Agreement in a sentence

This Intercept Agreement shall take effect on the Closing Date of the Loan.
This Intercept Agreement will remain in full force and effect from its effective date as herein provided until such time as the Loan made pursuant to the Loan Agreement and this Intercept Agreement have been paid in full.
This Intercept Agreement may be simultaneously executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument.
This Intercept Agreement may be amended only by written instrument signed by the parties hereto.
To the extent applicable and to the extent that the Pledged Revenues are insufficient to meet the debt service requirements due on the Loan and other Parity Obligations (as defined in the Loan Agreement) now or hereafter issued or incurred, the amounts intercepted under this Intercept Agreement shall be applied to allow partial payment on a pro-rata basis of the debt service due and owing on the Loan Agreement and other Parity Obligations.
Pursuant to the Loan Agreement and this Intercept Agreement, the Loan and all Loan Agreement Payments on the Loan made by or on behalf of the Governmental Unit shall be collected by the Finance Authority and remitted to the Trustee.
This Loan Agreement and the Intercept Agreement constitute the legal, valid and binding obligations of the Finance Authority enforceable in accordance with their terms.
The Governmental Unit has taken all required action necessary to authorize the execution and delivery of this Loan Agreement and the Intercept Agreement, and this Loan Agreement and the Intercept Agreement constitute legal, valid and binding special obligations of the Governmental Unit enforceable in accordance with their terms.
Pursuant to the Indenture, this Loan Agreement and the Intercept Agreement may be assigned and transferred by the Finance Authority to the Trustee, which assignment and transfer is hereby acknowledged and approved by the Governmental Unit.
No event has occurred and no condition exists which, upon the execution and delivery of this Loan Agreement and the Intercept Agreement, would constitute an Event of Default on the part of the Governmental Unit under this Loan Agreement or the Intercept Agreement.

More Definitions of Intercept Agreement

Intercept Agreement means the Intercept Agreement dated as of April 23, 2003, as amended and supplemented.

Intercept Agreement means the Intercept Agreement dated as of October 31, 2002, as it may be amended and supplemented from time to time.

Intercept Agreement means the Intercept Agreement dated , 2013, by and between the Bank and the Borrower, and accepted by the Trustee.

Intercept Agreement means the intercept agreement, if any, between the Municipality and the Bank, and acknowledged by the Trustee, in order to further secure the Bank Bonds.

Intercept Agreement means one or more Intercept Agreements dated the Closing Date among the District, its County Members, the Finance Authority and the Distributing State Agency providing for the direct payment by the Distributing State Agency or the District to the Finance Authority of Pledged Revenues in amounts sufficient to pay the principal and interest due on the Bonds, or any amendments or supplements to the Intercept Agreement.