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Participation Agreement

 

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Title:

Participation Agreement

Entities:

BNY Capital Markets, Inc.; Citibank, NA; JPMorgan Chase Bank; Williams Capital Group, LP; Goldman, Sachs & Co.

Date:

2005

Size:

Preview shows 6KB of 77KB total

Price:

$46

ID:

#904446

 

 

► Compensation ► Participation Agreements
► Financial
► Financial ► Investment Services

 

 

Start of Preview


                         NEW YORK STATE ENERGY RESEARCH

AND DEVELOPMENT AUTHORITY



and



THE BROOKLYN UNION GAS COMPANY
d/b/a KEYSPAN ENERGY DELIVERY NEW YORK



------------------------------

PARTICIPATION AGREEMENT
------------------------------


Dated as of November 1, 2005





- relating to -
$55,000,000 Gas Facilities Revenue Bonds
(The Brooklyn Union Gas Company d/b/a KeySpan Energy Delivery New York Project),
2005 Series B





<PAGE>

<TABLE>

TABLE OF CONTENTS
<CAPTION>

Page
----

ARTICLE I

DEFINITIONS; EFFECTIVE DATE AND DURATION OF PARTICIPATION AGREEMENT
<S> <C> <C>
Section 1.01. Definitions.....................................................................................2
Section 1.02. Effective Date of Participation Agreement; Duration of Participation Agreement..................2

ARTICLE II

REPRESENTATIONS

Section 2.01. Representations by the Authority................................................................2
Section 2.02. Representations by the Company..................................................................3

ARTICLE III

THE PROJECT; ISSUANCE OF BONDS

Section 3.01. Construction of the Project.....................................................................4
Section 3.02. Sale of Bonds and Deposit of Proceeds; Additional Bonds; Liability under
Bonds...........................................................................................4
Section 3.03. [Reserved]......................................................................................5
Section 3.04. Investment of Moneys in Funds under the Indenture...............................................5

ARTICLE IV

CORPORATION OBLIGATION AND PAYMENTS

Section 4.01. Execution and Delivery of Company Obligation to Trustee.........................................5
Section 4.02. Prepayment to Redeem Bonds......................................................................6
Section 4.03. Obligation for Payment Absolute; Deficiencies...................................................6
Section 4.04. Administration Fees; Expenses, etc..............................................................7
Section 4.05. Compensation of Trustee and Registrar and Paying Agent, Auction Agent
and Remarketing Agent...........................................................................7
Section 4.06. Project Not Security for Bonds..................................................................8
Section 4.07. Payment of Taxes and Assessments; No Liens or Charges...........................................8
Section 4.08. Indemnification of Authority and Trustee........................................................8
Section 4.09. Company to Pay Attorneys' Fees and Disbursements................................................9
Section 4.10. No Abatement of Administration Fees and Other Charges...........................................9
Section 4.11. Prepayment of Company Obligation................................................................9
Section 4.12. Payment to Registrar and Paying Agent...........................................................9
Section 4.13. Agreements of the Company Relating to Support Facilities........................................9


i

<PAGE>


Section 4.14. Company Liable to Owners of Bonds in the Case of Certain Events of
Taxability....................................................................................10

ARTICLE V

SPECIAL COVENANTS

Section 5.01. No Warranty as to Suitability of Project.......................................................10
Section 5.02. Authority's Rights to Inspect Project and Plans and Specifications.............................10
Section 5.03. Company Consent to Amendment of Indenture......................................................11
Section 5.04. Tax Covenant...................................................................................11

 

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