Examples of Project Bonds in a sentence
The Authority will purchase from a company duly qualified to issue such insurance in the State, an American Land Title Association owner’s policy of title insurance, such policy to be at least in the amount of the principal amount of the Project Bonds at the time outstanding.
The Authority covenants and agrees that, so long as any of the Project Bonds remain Outstanding, the Authority will keep proper books of record and account in which full, true and complete entries will be made of all transactions relating to the acquisition, planning, construction, equipping and improvement of the Project.
In the event of sale, the Authority will (i) deposit the proceeds into the Bond Funds pursuant to the Project Indentures as provided in Section 10.4 hereof for the payment of outstanding Project Bonds or (ii) apply the proceeds to the replacement of the property so disposed of by other property which shall be incorporated into the Project as hereinbefore provided.
Except as otherwise provided in this Agreement or in the Project Indentures, subsequent to the initial issuance of Project Bonds and prior to the payment thereof having been made in accordance with the provisions of the Project Indentures, this Agreement may not be effectively amended, changed, modified, altered or terminated without the written consent of the Trustee, given in accordance with the provisions of the Project Indentures.
No provision, covenant or agreement contained in this Agreement, the Project Indentures or the Project Bonds, or any obligation herein or therein imposed upon the Authority, or the breach thereof, shall constitute or give rise to or impose upon the Authority or the Sponsors a pecuniary liability or a charge upon the general credit or any taxing powers of the Authority or of the Sponsors.