Unbonded Property definition
Unbonded Property is and includes all property of the Company, other than Bonded Property and Excepted Property. "Written Order of the Company," "Written Request of the Company," and "Written Consent of the Company" are, respectively, a written order, request or consent signed in the name of the Company under its corporate seal by the Chairman of the Board or the President or a Vice-President and by the Treasurer or an Assistant Treasurer of the Company.
Examples of Unbonded Property in a sentence
If and to the extent that the withdrawal of cash is based upon Unbonded Property Additions (as permitted under the provisions of clause (i) of Section 8.06(a)), the Company shall, subject to the provisions of said clause (i) and except as hereafter in this subsection provided, comply with all applicable provisions of this Indenture as if such Property Additions were made the basis for the authentication and delivery of Bonds equal in principal amount to 75% of the cash to be withdrawn.