Bank Bond definition

Bank Bond means any 2021 Series J Variable Rate Bond for which the Purchase Price has been paid with moneys provided under a Liquidity Facility, as described in Section 804 of Appendix A hereto.

Bank Bond. ’ or ‘‘Purchased Bond’’ means any Multi-Modal Bond held pursuant to a Liquidity Facility. The terms of Purchased Bonds are not described in detail in this Official Statement.

Bank Bond or “Purchased Bond” means any Multi-Modal Bond purchased and held pursuant to a Standby Agreement. The terms of Purchased Bonds are not described in detail in this Official Statement.

Examples of Bank Bond in a sentence

• Prior to selling a Bank Bond to a Bank Bondholder pursuant to this Section 2.13(a), the Bank shall obtain a written acknowledgment from such purchaser stating that such purchaser has no right to tender the Bank Bond and no right to be paid from amounts drawn under the Letter of Credit.

• The Bank agrees to deliver and, by its acceptance of a Bank Bond, each other Bank Bondholder agrees to deliver (but only upon receipt by the Bank or such other Bank Bondholder of Dollars in the amount of the Sale Price) to the Trustee each certificate representing a Bank Bond sold by it pursuant to this Section 2.13(b), including without limitation certificates representing Bank Bonds which are deemed to have been delivered in accordance with the provisions of the Indenture.

• The Bank agrees to notify in writing the District, the Trustee and the Remarketing Agent promptly of any such sale (other than a sale made pursuant to Section 2.13(b)) and to notify the transferee in writing that such Bond is no longer eligible to be tendered or deemed tendered for purchase pursuant to the Indenture so long as it remains a Bank Bond and that there shall not be a short-term investment rating assigned to such Bond so long as it remains a Bank Bond.

• Any sale of a Bank Bond pursuant to this Section 2.13(b) shall be without recourse to the seller and without representation or warranty of any kind by the Bank or any Bank Bondholder.

• Each 2010 Bond (other than a Bank Bond) shall bear interest at the rates determined pursuant to this Section, payable on each Interest Payment Date, for the immediately preceding Interest Payment Period.

More Definitions of Bank Bond

Bank Bond means a Purchased Bond purchased by a Subseries Bank.

Bank Bond or “Purchased Bond” means any Multi-Modal Bond held pursuant to a Standby Agreement.

Bank Bond or “Purchased Bond” means any Adjustable Rate Bond of a Series (or beneficial interest therein) during the period from and including the date moneys paid by the Bank under the Liquidity Facility are applied (or set aside for application) to the payment of the Purchase Price of such Bond pursuant to the Sixteenth Supplemental Indenture to but excluding the date such Bond ceases to be a Bank Bond or Purchased Bond at the time and in the manner described in such Liquidity Facility (whether by reason of the remarketing thereof by the Remarketing Agent or otherwise as specified in such Liquidity Facility).

Bank Bond means any 2022 Series D Bond for which the Purchase Price has been paid with moneys provided under a Liquidity Facility, as described in Section 804 of Appendix A hereto.

Bank Bond means any 2023 Series C Bond for which the Purchase Price has been paid with moneys provided under a Liquidity Facility, as described in Section 804 of Appendix A hereto.

Bank Bond means any Bond during the period from and including the date of its purchase with the proceeds of a Liquidity Advance or a Mandatory Tender Advance to, but excluding, the date on which the Principal Portion and the Interest Portion related to such Liquidity Advance made by the GSEs on account of such Bank Bond is reinstated under this Credit and Liquidity Facility.

Bank Bond means each 2006B Bond or 2006C Bond, as the case may be, purchased by the Bank pursuant to the applicable Standby Bond Purchase Agreement and held by or for the account of a Bank Bondholder in accordance with the terms of such Standby Bond Purchase Agreement, until purchased from or retained in accordance with such Standby Bond Purchase Agreement or redeemed in accordance with such Standby Bond Purchase Agreement or otherwise.