Dormitory Authority of the State of New York
CUSIP 649906UN2
- Issue Currency: United States of America Dollars
- Announcement Date: 19-Apr-2017
- News: FIRST AMENDMENT TO LOAN AGREEMENT (First Amendment), dated as of March 30, 2017 by and between the DORMITORY AUTHORITY OF THE STATE OF NEW YORK, a body corporate and politic of the State of New York, constituting a public benefit corporation created pursuant to Title 4 of Article 8 and Title 4B of the Public Authorities Law of the State of New York, as amended (the Authority), and TEACHERS COLLEGE, an institution of higher education duly incorporated and existing under the laws of the State of New York (the College), amending and supplementing the LOAN AGREEMENT, dated as of March 28, 2012, by and between the Authority and the College (the Loan Agreement). WHEREAS, the Authority duly adopted on December 3, 2008 its Teachers College Revenue Bond Resolution (the Resolution); and WHEREAS, the Authority issued its Teachers College Revenue Bonds, Series 2012A (the Series 2012A Bonds) pursuant to the Resolution and loaned the proceeds thereof to the College pursuant to the Loan Agreement; and WHEREAS, Section 7.11(a)(vi) of the Resolution and Section 37 of the Loan Agreement authorize the amendment of the Loan Agreement pursuant to a written instrument signed by the parties thereto for any one of the purposes set forth therein, including, but not limited to, to amend, modify or waive any provision of the Loan Agreement, provided that the same does not adversely affect the interests of the Bondholders in any material respect; and WHEREAS, Schedule D to the Loan Agreement (Schedule D) contains additional terms and conditions relating to, among other things, maintenance covenants, management consultant call-in and additional indebtedness; and WHEREAS, Section 6 of Schedule D provides that the Authority and the College may, without obtaining the consent of the Trustee or the Bondholders, amend the provisions of Schedule D and the related definitions upon which the calculations included in Schedule D are based to provide for other alternative measures of the Colleges performance and ability to issue, incur, assume or guaranty additional Indebtedness; and WHEREAS, the execution of this First Amendment is authorized pursuant to the applicable provisions of the Resolution and the Loan Agreement and, upon the execution hereof, shall amend the Loan Agreement in accordance with the provisions hereof.
- Issue Currency: United States of America Dollars
- Announcement Date: 19-Apr-2017
- News: FIRST AMENDMENT TO LOAN AGREEMENT (First Amendment), dated as of March 30, 2017 by and between the DORMITORY AUTHORITY OF THE STATE OF NEW YORK, a body corporate and politic of the State of New York, constituting a public benefit corporation created pursuant to Title 4 of Article 8 and Title 4B of the Public Authorities Law of the State of New York, as amended (the Authority), and TEACHERS COLLEGE, an institution of higher education duly incorporated and existing under the laws of the State of New York (the College), amending and supplementing the LOAN AGREEMENT, dated as of March 28, 2012, by and between the Authority and the College (the Loan Agreement). WHEREAS, the Authority duly adopted on December 3, 2008 its Teachers College Revenue Bond Resolution (the Resolution); and WHEREAS, the Authority issued its Teachers College Revenue Bonds, Series 2012A (the Series 2012A Bonds) pursuant to the Resolution and loaned the proceeds thereof to the College pursuant to the Loan Agreement; and WHEREAS, Section 7.11(a)(vi) of the Resolution and Section 37 of the Loan Agreement authorize the amendment of the Loan Agreement pursuant to a written instrument signed by the parties thereto for any one of the purposes set forth therein, including, but not limited to, to amend, modify or waive any provision of the Loan Agreement, provided that the same does not adversely affect the interests of the Bondholders in any material respect; and WHEREAS, Schedule D to the Loan Agreement (Schedule D) contains additional terms and conditions relating to, among other things, maintenance covenants, management consultant call-in and additional indebtedness; and WHEREAS, Section 6 of Schedule D provides that the Authority and the College may, without obtaining the consent of the Trustee or the Bondholders, amend the provisions of Schedule D and the related definitions upon which the calculations included in Schedule D are based to provide for other alternative measures of the Colleges performance and ability to issue, incur, assume or guaranty additional Indebtedness; and WHEREAS, the execution of this First Amendment is authorized pursuant to the applicable provisions of the Resolution and the Loan Agreement and, upon the execution hereof, shall amend the Loan Agreement in accordance with the provisions hereof.
- Issue Currency: United States of America Dollars
- Announcement Date: 19-Apr-2017
- News: FIRST AMENDMENT TO LOAN AGREEMENT (First Amendment), dated as of March 30, 2017 by and between the DORMITORY AUTHORITY OF THE STATE OF NEW YORK, a body corporate and politic of the State of New York, constituting a public benefit corporation created pursuant to Title 4 of Article 8 and Title 4B of the Public Authorities Law of the State of New York, as amended (the Authority), and TEACHERS COLLEGE, an institution of higher education duly incorporated and existing under the laws of the State of New York (the College), amending and supplementing the LOAN AGREEMENT, dated as of April 25, 2012, by and between the Authority and the College (the Loan Agreement). WHEREAS, the Authority duly adopted on December 3, 2008 its Teachers College Revenue Bond Resolution (the Resolution); and WHEREAS, the Authority issued its Teachers College Revenue Bonds, Series 2012B (the Series 2012B Bonds) pursuant to the Resolution and loaned the proceeds thereof to the College pursuant to the Loan Agreement; and WHEREAS, Section 7.11(a)(vi) of the Resolution and Section 37 of the Loan Agreement authorize the amendment of the Loan Agreement pursuant to a written instrument signed by the parties thereto for any one of the purposes set forth therein, including, but not limited to, to amend, modify or waive any provision of the Loan Agreement, provided that the same does not adversely affect the interests of the Bondholders in any material respect; and WHEREAS, Schedule D to the Loan Agreement (Schedule D) contains additional terms and conditions relating to, among other things, maintenance covenants, management consultant call-in and additional indebtedness; and WHEREAS, Section 6 of Schedule D provides that the Authority and the College may, without obtaining the consent of the Trustee or the Bondholders, amend the provisions of Schedule D and the related definitions upon which the calculations included in Schedule D are based to provide for other alternative measures of the Colleges performance and ability to issue, incur, assume or guaranty additional Indebtedness; and WHEREAS, the execution of this First Amendment is authorized pursuant to the applicable provisions of the Resolution and the Loan Agreement and, upon the execution hereof, shall amend the Loan Agreement in accordance with the provisions hereof.
