Examples of Qualified Surety Bond in a sentence
See "Part II – SECURITY FOR THE BONDS AND AUXILIARY OBLIGATIONS – Debt Service Reserve Fund." The amounts deposited to the Debt Service Reserve Fund are expected to be invested as described in "Part I – CERTAIN PROGRAM ASSUMPTIONS – Investments." Under the Indenture, the Authority may at any time replace such cash on deposit with a Qualified Surety Bond.
For the purposes of determining the amount on deposit in the Reserve Account, a Qualified Surety Bond shall be valued at the amount available to be drawn thereunder.
See "Part I – CERTAIN PROGRAM ASSUMPTIONS – Debt Service Reserve Fund" and "Part II – SECURITY FOR THE OBLIGATIONS – Debt Service Reserve Fund." Such deposit will be invested in an investment agreement, as described in "Part I – CERTAIN PROGRAM ASSUMPTIONS – 2005A Investment Agreement." Under the Indenture, the Authority may at any time replace such cash or deposit with a Qualified Surety Bond.
The Reserve Account Requirement may, however, be funded and maintained from time to time by any one of or any combination of (i) cash, (ii) Permitted Investments, and (iii) a Qualified Surety Bond, subject to the last paragraph of this Section 4.04.
Applicants for commercial loans will need to show experience in their field, a business plan and full financial documentation such as proof of income and financial status.