Facility for such Bonds are legally authorized to close in The City of New York. Complete and accurate Guarantee Application materials, submitted in a timely manner, demonstrating each of the Eligible CDFI's ability to repay its Bond Loan;.Consequently, thoughtful, precedent-informed drafting is essential when drafting a no action clause for a bond indenture. When someone invests in a bond, they're essentially lending money to the issuer. In an Open-end indenture, new issuance of bonds are permitted only when a test has determined existence of sufficient revenues for debt service coverage. The bondholder is the investor in the issue. It received interest periodically. 1 Unanimous approval would be required in a bond issued pursuant to a Trust Indenture Act-qualified indenture. Tese decisions may impact how issuers interpret bond indentures and may result in changes in the drafting of certain indenture provisions in the future.