This form is a Release and Cancellation of Trust Agreement / Trust Indenture. All liens and encumberances created thereby are certified to be satisfied and released. Adapt to fit your circumstances.
Bond With Indenture In Santa Clara
Category:
State:
Multi-State
County:
Santa Clara
Control #:
US-00195
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Word;
Rich Text
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FAQ
The Indenture is a contract between the issuer and the bond trustee. The Resolution, just like any other resolution or ordinance of a state or local government, is the evidence of an official action taken by the issuer with regard to the bonds.
The process of securing a property bond involves several steps, including: Property Valuation. The court requires an appraisal of the property to verify its value and ensure it meets the required equity threshold. Lien Placement. Legal Documentation. Court Approval. Defendant's Release.
The bond indenture is a legal document that defines the terms of the bond issue including the rights of bondholders; the bond certificate provides details about the bond being issued including the financial elements of the bond.
A covenant is a promise to take an action (an affirmative covenant) or to refrain from taking an action (a negative covenant). Indentures contain a variety of covenants from the issuer to the trustee on behalf of the bondholders.
What Is a Bond Covenant? A bond covenant is a legally binding term of agreement between a bond issuer and a bondholder. Bond covenants are designed to protect the interests of both parties.
The terms of the Indenture are tailored to reflect the specific type of transaction and issuer. Like credit agreements,1 an Indenture contains lending and repayment terms. In contrast to credit agreements, however, the lender is not a party to an Indenture.
A bond agreement is a legal contract between an issuer and the holder of a bond. The issuer agrees to repay the principal, usually at maturity, plus interest on time at a specified rate. Bonds are issued by governments or corporations in order to raise capital for projects that they need funding for.
The bond must be written by a surety company licensed through the California Department of Insurance. The business name and license number on the bond must correspond exactly with the business name and license number on the CSLB's records. The bond must have the signature of the attorney-in-fact for the surety company.
Most bonds are issued pursuant to a Trust Indenture. In certain instances, bonds are issued pursuant to a Resolution of the issuer.
All bond covenants are part of a bond's legal documentation and are part of corporate bonds and government bonds. A bond's indenture is the portion that contains the covenants, both positive and negative, and is enforceable throughout the entire life of the bond until maturity.
