Significant Bondholder definition

Significant Bondholder means the following:
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Significant Bondholder means any one Beneficial Owner of greater than 50% of the Beneficial Ownership Interest in Bonds then Outstanding, and if no one Beneficial Owner owns greater than 50% of the Beneficial Ownership Interest in Bonds then Outstanding, then the provisions relating to the Significant Bondholder shall not apply
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Significant Bondholder means any bond fund or bondholder which owns, manages, controls or the like more than One Million Dollars ($1,000,000) of Bonds Outstanding;
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Examples of Significant Bondholder in a sentence

  • Unless the Significant Bondholder, if any, objects to the determination of the Replacement Reserve Requirement within 14 Business Days of receipt of such notice, the Servicer shall notify the Trustee of the Replacement Reserve Requirement.

  • Similarly, in making any payments to protect the security intended to be created by the Loan Documents and/or the Bond Documents, the Significant Bondholder shall not be bound to inquire into the validity of any apparent or threatened adverse title, lien, encumbrance, claim or charge before making an advance for the purpose of preventing or removing the same.

  • All sums paid by the Significant Bondholder pursuant to this Section 7.11, and all other sums expended by the Significant Bondholder, to which it shall be entitled to be indemnified, together with interest thereon at the Default Rate from the date of such payment or expenditure until paid, shall constitute additions to all amounts payable with respect to the Bonds, shall be secured by the Loan Documents and/or the Bond Documents and shall be paid by the Borrower to the Significant Bondholder upon demand.

  • The Servicer, the Trustee or Significant Bondholder is hereby authorized to file a copy of this paragraph in any proceeding as conclusive evidence of this waiver by the Parties hereto.

  • All sums advanced hereunder and any other amounts expended by the Significant Bondholder, the Financial Monitor, and the Servicer (none of which parties shall be under or have any obligation whatsoever to advance or expend any amounts whether available hereunder or otherwise) to complete any improvement or rehabilitation of the Project shall be deemed to have been advanced to the Borrower and shall be secured by the Mortgage, as applicable.

  • The Trustee may, and upon written request of the Significant Bondholder, if any, or the Owners of a majority of the aggregate principal amount of Senior Bonds Outstanding (and following payment in full of the Senior Bonds, the Owners of a majority of the aggregate principal amount of Outstanding Subordinate Bonds) shall, waive any Event of Default, but no such waiver shall extend to or affect any other existing or any subsequent Event of Default or impair any rights or remedies consequent thereon.

  • With respect to any other Event of Default, the Trustee shall give notice to the Issuer and the Significant Bondholder, with a copy to the Borrower, as soon as the Trustee is notified or takes notice of such other Event of Default.

  • In the event the Financial Monitor is removed or has resigned, the Trustee shall appoint a successor Financial Monitor at the direction of the Significant Bondholder and in the absence of such direction, an entity experienced in affordable multifamily financial monitoring selected by the Owners of a majority in principal amount of Outstanding Bonds shall be so appointed.

  • The Issuer, the Borrower, the Financial Monitor, or the Significant Bondholder may at any time petition any court of competent jurisdiction for the removal for cause of the Trustee.

  • The Borrower shall provide to the Trustee, the Financial Monitor, the Significant Bondholder and each Owner at the Borrower’s expense financial statements in accordance with the requirements of the Loan Agreement.


More Definitions of Significant Bondholder

Significant Bondholder means one registered owner that owns more than 50% of the aggregate Outstanding principal amount of a Series of Bonds.
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Significant Bondholder or majority owner of the Bonds, as applicable, under the Bond Documents.
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Related to Significant Bondholder

  • Bond Trustee means the company designated as such in the preamble to these Bond Terms, or any successor, acting for and on behalf of the Bondholders in accordance with these Bond Terms.

  • Holder means a Person in whose name a Security is registered in the Security Register.

  • Trustee means any person, including the founder of a trust, to whom property is bequeathed in order for such property to be administered for the benefit of another person.

  • Fiscal Agent ABN AMRO Bank N.V., a Netherlands banking corporation in its capacity as fiscal agent of the Trustee, or its successor in interest, or any successor fiscal agent appointed as herein provided.

  • Responsible Officer means, when used with respect to the Trustee, any officer within the corporate trust department of the Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture.