Surety Policy definition

Surety Policy means and include a surety bond, bond insurance policy or other credit agreement, as authorized by Section 1502.064, Texas Government Code, provided that the issuer of any Surety Policy shall be rated in the highest rating category at the time of issuance of such Surety Policy by A.M. Best Company, Standard & Poor’s Ratings Group, or Moody’s Investors Service. A Surety Policy shall insure all Bonds and Additional Bonds on a pro rata basis. A Surety Policy may include a letter of credit or other agreement or instrument, including any related reimbursement or financial guaranty agreement, whereby the issuer is obligated to provide funds up to and including the maximum amount and under the conditions specified in such agreement or instrument.

Surety Policy means a letter of credit, surety bond or an insurance policy to be deposited into the Subordinated Bonds Debt Service Reserve Fund which, so long as the Series

Surety Policy means the Municipal Bond Debt Service Reserve Insurance Policy No. 205494-R, effective August 17, 2005, together with any and all riders and endorsement thereto, provided by the Insurer for the Debt Service Reserve Fund Requirement for the Series 2005 Bonds.

Examples of Surety Policy in a sentence

• The Series 2015B Bonds shall be issued for the purposes of providing funds to (i) defease and/or refund all of the 2008B Bonds, (ii) purchase a Bond Insurance Policy, if necessary, (iii) fund a debt service reserve fund or purchase a Surety Policy, (iv) fund a Coverage Reserve, and(v) pay costs of issuance of the Series 2015B Bonds.

• Any agreements between the City and the Bond Insurer with respect to any Bond Insurance Policy and the Surety Provider with respect to any Surety Policy, if determined to be advisable, are hereby approved, the same to be executed by the Executive Officers upon advice of Bond Counsel.

• Any agreements between the City and the Bond Insurer with respect to any Bond Insurance Policy and the Surety Provider with respect to any Surety Policy, if determined to be advisable, are hereby approved, the same to be executed by the Executive Officers upon advice of Bond Counsel.Section 704 Bond Insurance Policy and Surety Policy Provisions.

• The DSRF, if any, shall be held by the Paying Agent and used to receive a portion of Bond Proceeds and any other amounts, as received by the Paying Agent, in an amount equal to the Reserve Fund Requirement provided however that the Reserve Fund Requirement may be satisfied by the delivery to the Paying Agent of a Surety Policy that meets the Reserve Fund Requirement.

• The Series 2015A Bonds shall be issued for the purposes of providing funds to (i) defease and/or refund all of the 2008A Bonds, 2008C Bonds, and 2008D Bonds, (ii) construct and acquire the Project, if necessary, (iii) purchase a Bond Insurance Policy, if necessary, (iv) fund a debt service reserve fund or purchase a Surety Policy, (v) fund a Coverage Reserve, and (vi) pay the costs of issuance of the Series 2015A Bonds.

More Definitions of Surety Policy

Surety Policy means the municipal bond debt service reserve insurance policy issued by the Bond Insurer for the purpose of funding the Reserve Account.

Surety Policy means a surety bond, insurance policy, letter of credit, or other agreement or instrument whereby the issuer is obligated to provide funds up to and including the maximum amount and under the conditions specified in such agreement or instrument.

Surety Policy shall have the meaning ascribed to such term in the Recitals.

Surety Policy has the meaning set forth in the Recitals.

Surety Policy means the Initial Surety Policy and any Substitute Surety Policy accepted in writing by the Bank.

Surety Policy means the financial guaranty policy dated as of May 24, 1996 issued by the Surety Provider in favor of CNAI on behalf of the Master Lenders; "Rating Agencies" shall mean Standard and Poor's Ratings Group, a division of McGrxx-Xxxx, Xxc., and Moodx'x Xxxestors Services, Inc.; and "Insurance and Indemnity Agreement" means the insurance agreement among FSFP, Surety Provider and the other parties thereto. Except as set forth above in this Section 14.12, each Lender and each Agent will utilize reasonable good faith efforts to maintain as confidential any information obtained from Borrower (to the extent each Lender and each Agent are advised by Borrower that such information is confidential and other than information which (i) at the time of disclosure or thereafter is generally available to and known by the public (other than as a result of a disclosure directly or indirectly by any Lender Party), (ii) is available to any Lender Party on a non-confidential basis from a source other than Borrower, provided that such source was not known by such Lender Party to be bound by a confidentiality agreement with Borrower, (iii) is required to be disclosed pursuant to any Requirement of Law or in connection with any litigation arising out of or related to this Agreement or (iv) has been independently developed by any Lender Party), provided that any Lender Party may disclose any such information to any Eligible Assignee provided such Eligible Assignee agrees to the terms of this paragraph or otherwise with the consent of Borrower.

Surety Policy means the financial guaranty policy dated as of March 24, 1995 issued by the Surety Provider in favor of Master Agent on behalf of the Master Lenders; "Rating Agencies" shall mean Standard and Poor's and Xxxxx'x Investors Services, Inc.; and "Insurance and Indemnity Agreement" means the insurance agreement among Lender, Surety Provider and the other parties thereto. Delivered at Chicago, Illinois, as of the day and year first above written. GENERAL MANUFACTURED HOUSING, INC. By: _________________________________ Name Printed: Xxxx X. Xxxxx Its: President General Manufactured Housing, Inc. 0000 Xxxxxxxxxx Xxxxxxxxx Xxxxxxxx, Xxxxxxx 00000 Attention: Xxxxxx X. Xxxxx Telecopy: (000) 000-0000 FIRST SOURCE FINANCIAL LLP By: First Source Financial, Inc., its Agent/Manager By: ______________________________________ Name Printed: Xxxxxx X. Xxxxxxxxxx, Xx. Its: Vice President 0000 Xxxx Xxxx Xxxx 0xx Xxxxx Xxxxxxx Xxxxxxx, Xxxxxxxx 00000 Attention: Contract Administration Telecopy: (000) 000-0000 SCHEDULE I REVOLVING LOAN COMMITMENT REDUCTION DATES AND AMOUNTS (Section 2.1) Amount of Revolving LOAN COMMITMENT 1/ PERIOD $16,000,000 Closing Date through April 1, 1996 $15,333,000 April 2, 1996 through July 1, 1996 $14,666,000 July 2, 1996 through October 1, 1996 $13,999,000 October 2, 1996 through January 1, 1997 $13,332,000 January 2, 1997 through April 1, 1997 $12,499,000 April 2, 1997 through July 1, 1997 $11,666,000 July 2, 1997 through October 1, 1997 $10,833,000 October 2, 1997 through January 1, 1998 $10,000,000 January 2, 1998 through April 1, 1998 $9,000,000 April 2, 1998 through July 1, 1998 $8,000,000 July 2, 1998 through October 1, 1998 $7,000,000 October 2, 1998 through January 1, 1999 $6,000,000 January 2, 1999 through April 1, 1999 $4,833,000 April 2, 1999 through July 1, 1999 $3,666,000 July 2, 1999 through October 1, 1999 $2,499,000 October 2, 1999 through January 1, 2000 $1,332,000 January 1, 2000 through April 1, 2000 $0 April 2, 2000 and thereafter SCHEDULED REDUCTION IN REVOLVING LOAN COMMITMENT REVOLVING LOAN COMMITMENT REDUCTION DATE $667,000 April 1, 1996 $667,000 July 1, 1996 $667,000 October 1, 1996 $667,000 January 1, 1997 $833,000 April 1, 1997 $833,000 July 1, 1997 $833,000 October 1, 1997 $833,000 January 1, 1998 $1,000,000 April 1, 1998 $1,000,000 July 1, 1998 $1,000,000 October 1, 1998 $1,000,000 January 1, 1999 $1,167,000 April 1, 1999 $1,167,000 July 1, 1999 $1,167,000 October 1, 1999 $1,167,000 January 1, 2000 $1,332,000 April 1, 2000