State Covenant definition

State Covenant means the State’s pledge and agreement set forth in §2799-ii of the Act (including, with respect to School Bonds and School Notes, the related provisions of the School Financing Act).
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State Covenant. ’ means the covenant of the State with the Bondholders that the State shall not limit or alter the rights vested in the Authority by the Act to fulfill the terms of the Indenture, or in any way impair the rights and remedies of such holders or the security for the Bonds until such Bonds, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders of the Bonds, are fully paid and discharged.
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Examples of State Covenant in a sentence

  • Nothing in this covenant shall be deemed to obligate the State to make any additional payments or impose any taxes to satisfy the obligations of the Authority; (c) subdivision 4 of § 2799-tt of the Act (added by the School Financing Act) to the effect that: The State Covenant shall be fully applicable to School Bonds and School Notes and may be included in any agreement with the Holders thereof.

  • As part of the State Brownfields Program, all successor owners of lots upon which there is a State ARAP and a State Covenant Not to Sue issued pursuant to RSA 147-F must comply with the terms and conditions of the State Covenant Not to Sue, the State ARAP, and RSA 147-F in order to benefit from the liability protections described therein.

  • This Agreement, in combination with any State Covenant Addendum that Employee executes as part of this Agreement, expresses the entire agreement and understanding of the parties with respect to the subject matter hereof and supersedes any prior agreements, written or oral, between the parties regarding the same.

  • The Jurisdictions under their Memorandum of Agreement (MOA) with DTSC are responsible for monitoring property transfer to ensure use restrictions, LUC and State Covenant Restricting Use of Property (CRUP) restrictions are maintained in future deeds for the ESCA property.

  • Regardless of the time each party’s interest in the Mortgaged Property was or shall be created or recorded, the Commerce Covenant shall be second in priority, following the first priority position of the State Covenant in the Original Agreement.

  • To the maximum extent permitted by law, and subject to the terms of an applicable State Covenant Addendum, the interpretation and contractual enforceability of this Agreement shall be governed by the law of the Commonwealth of Pennsylvania, without giving effect to any choice-of-law rule that would require the law of another jurisdiction to apply.

  • To ensure compliance with the laws in the various states in which the Company does business, the terms of this Agreement are modified and superseded by the State Covenant Addendum executed by Employee as part of this Agreement and attached hereto as APPENDIX C.