Covenants of Eligible CDFI with respect to Bond and each Bond Loan.

CFR · 2024-01-01 · US · Title 12

The Eligible CDFI shall covenant in the Bond Loan agreement that it will: (a) Furnish to the Qualified Issuer, at the Eligible CDFI's expense, certain annual and periodic financial and performance reporting; (b) Maintain books and records related to the Bond Loan and Secondary Loans, the collateral and the project that is to be financed by Bond Loan proceeds, and allow inspection thereof; (c) Preserve its corporate existence and Certified CDFI status; (d) Comply with all laws to which it is subject; (e) Maintain insurance, as required by the Qualified Issuer, against such risks as would customarily be maintained by commercially reasonable companies in a similar line of business; (f) Pay and discharge all Federal, State and local taxes; (g) Ensure proper use of proceeds of the Bond Loan; (h) Pay all required administrative expenses; (i) Indemnify the Guarantor, the CDFI Fund, the Qualified Issuer and the Master Servicer/Trustee and their Affiliates; (j) Collaterally assign all rights, title, and interest in and to Secondary Loan collateral to the Master Servicer/Trustee; (k) Maintain the collateral; (l) Enforce the covenants against the Secondary Borrowers; (m) Be bound, to the extent applicable, to provisions of the Bond Trust Indenture; (n) Periodically, as directed by the CDFI Fund, furnish certain information designed to measure the impacts of the Bond Loan and the CDFI Bond Guarantee Program; (o) Periodically, as directed by the CDFI Fund, furnish to the Qualified Issuer

official document · source cfr-2024 · id 12:§ 1808.611