Tender Agent definition
Examples of Tender Agent in a sentence
Amounts held in the Liquidity Facility Purchase Account and the Remarketing Proceeds Account by the Tender Agent shall be held uninvested and separate and apart from all other funds and accounts.
The City shall pay the annual Tender Agent fee and all reasonable and actual out of pocket expenses of the Tender Agent for acting under and pursuant to this Agreement as set forth in Annex A hereto.
The Tender Agent agrees to keep such books and records as shall be consistent with prudent industry practice and to make such books and records available for inspection by the City, the related Credit Facility Issuer and the related Liquidity Facility Issuer at all reasonable times.
The Remarketing Agent is required to redeliver such Bonds received from the Tender Agent to the respective purchasers not later than 3:30 p.m., New York City time.
For any Bonds required to be tendered for purchase which are not in fact delivered, the Tender Agent shall hold any funds received for purchase of those Bonds in trust in a separate account and shall pay such funds to the former Owners upon presentation of the Bonds subject to tender, and such Bonds shall be deemed tendered and cease to accrue interest as to the former Owners on the Purchase Date or Mandatory Purchase Date pursuant to the Ordinance.