Eligible Moneys means moneys deposited in an inmate trust account that are subject to collection under this section, including but not limited to inmate performance monetary awards and moneys received from an inmate’s family members or friends. “Eligible moneys” does not include protected moneys.
Eligible Moneys. Any moneys on deposit in trust with the Trustee for the benefit of the Noteholders with respect to which the Trustee has received an unqualified opinion of counsel nationally recognized as expert in bankruptcy acceptable to the Trustee that payment of such amounts to the Noteholders would not constitute avoidable preferences under Xxxxxxx 000 xx xxx Xxxxxx Xxxxxx Bankruptcy Code or similar state laws with avoidable preference provisions in the event of the filing of a petition for relief under the United States Bankruptcy Code or similar state laws with avoidable preference provisions by or against the Issuer or any borrower or the person from whom the money is received, if other than the Issuer or the borrower.
Eligible Moneys means: (i) all amounts drawn by the Trustee under the Letter of Credit, or otherwise received from the Letter of Credit Issuer, and deposited to the credit of the Bond Fund or the Debt Service Reserve Fund; (ii) all amounts in respect of accrued interest, if any, deposited to the credit of the Bond Fund from the proceeds of the initial sale of the Bonds; (iii) all amounts deposited to the credit of the Bond Fund from the proceeds of the initial sale of the Bonds and used by the Trustee to pay interest due on the Bonds for the first three interest payment dates; (iv) all other amounts on deposit in the Construction Fund, or the Debt Service Reserve Fund prior to the termination of the Letter of Credit: (a) to the extent such amounts constitute: (A) proceeds received from the initial sale of the Bonds deposited with the Trustee contemporaneously with the issuance and sale of the Bonds (B) investment income generated by the funds described in (i) through (iii) above or this clause (iv) deposited in the Debt Service Reserve Fund and the Construction Fund or which have been on deposit with the Trustee in separate and segregated accounts or sub-accounts in which no other moneys are held for a period of ninety-four (94) consecutive days prior to the day on which such moneys are to be used to pay interest on or principal "of the Bonds, without the occurrence of an intervening Act of Bankruptcy; or (b) as to which the. Trustee has received an Opinion of Counsel experienced in bankruptcy matters to the effect that payment to the Bondholders of such moneys would not constitute a transfer that may be voided under any provision of the United States Bankruptcy Code in the event of an Act of Bankruptcy; and (v) after the expiration of the Letter of Credit, the Bonds still being outstanding, all amounts on deposit in any fund , under this Agreement from whatever source.
Examples of Eligible Moneys in a sentence
Payment on the Notes pursuant to any optional redemption may be made only with Eligible Moneys.
The Company shall cause all optional redemptions of the Bonds pursuant to Section 8.01 of the Loan Agreement to be paid with the Eligible Moneys (as defined in the Trust Agreement) unless otherwise agreed in writing by TDF.
Such redemption shall be effected on the next interest payment date occurring not less than forty-five (45) days after the date of said transfer and of sufficient Eligible Moneys on deposit with the Trustee to effect such redemption.
The notion of human dignity and the language of universality figure prominently in the text of all major human rights and humanitarian law treaties of the modern era.
So long as a Letter of Credit is in effect, the Corporation shall not acquire, and shall not permit any other Affiliate or Insider to acquire, any Bonds (other than Pledged Bonds or Bonds which bear interest at a Fixed Rate) except with Eligible Moneys or as otherwise required by Section 4.02(d) of this Loan Agreement.
More Definitions of Eligible Moneys
Eligible Moneys. Any moneys on deposit in trust with the Indenture Trustee for the benefit of the Noteholders with respect to which the Indenture Trustee has received an Opinion of Counsel nationally recognized as expert in bankruptcy acceptable to the Indenture Trustee that payment of such amounts to the Noteholders would not constitute avoidable preferences under Section 547 of the United States Bankruptcy Code in the event of the filing of a petition for relief under the United States Bankruptcy Code by or against the Issuer or any borrower or the person from whom the money is received, if other than the Issuer or the borrower.
Eligible Moneys means moneys deposited in an adult in custody trust account that are subject to collection under this section, including but not lim- ited to adult in custody performance monetary awards and moneys received from family members or friends of the adult in custody. “Eligible moneys” does not include protected moneys.
Eligible Moneys means (a) proceeds of the sale of Notes not sold to the District or an Affiliate of the District, (b) moneys deposited with the Paying Agent by the District (including proceeds of Notes sold to an Affiliate of the District) for the benefit of the Noteholders for more than 183 days during which no Act of Bankruptcy has occurred as evidenced by a certificate of the District, (c) moneys with respect to which the District delivers to the Paying Agent an Opinion of Counsel with nationally
Eligible Moneys means with respect to any date on which any payment of principal, premium, if any, and interest is required to be made on the Bonds: (i) all amounts drawn by the Trustee under the TDF Letter of Credit or any successor letter of credit, or otherwise received from TDF or any successor letter of credit issuer, and deposited to the credit of the bond fund or the debt service reserve fund established under the Trust Agreement; (ii) all amounts in respect of accrued interest, if any, deposited to the credit of the bond fund from the proceeds of the initial sale of the Bonds; (iii) all amounts in respect of capitalized interest deposited to the credit of the bond fund from the proceeds of the initial sale of the Bonds, if any; (iv) all other amounts on deposit in the bond fund or the debt service reserve fund prior to the termination of the TDF Letter of Credit or any successor letter of credit: (a) to the extent such amounts constitute proceeds of the Bonds deposited with the Trustee contemporaneously with the issuance and sale of the Bonds, or investment income generated by the funds described in (i) to (iii) above or this clause (iv), deposited in the debt service reserve fund, or which have been on deposit with the Trustee in such separate and segregated accounts or sub-accounts in which no other moneys are held for a period of 94 consecutive days prior to the applicable payment date without the occurrence of an intervening Act of Bankruptcy (as defined in the Trust Agreement), or (b) as to which the Trustee has received an opinion of counsel experienced in bankruptcy matters to the effect that payment to the holders of the Bonds of such monies would not constitute a transfer
Eligible Moneys means (a) proceeds of the sale of Notes not sold to the
Eligible Moneys. (i) all amounts drawn by the Trustee under the Letter of Credit and deposited to the credit of the Bond Fund or the Tender Account, and (ii) all amounts deposited to the credit of the Bond Fund: (a) in respect of accrued interest from the proceeds of the initial sale of the Bonds, (b) to the extent such amounts have been on deposit in the Bond Fund for a period of 124 consecutive days without the occurrence of an intervening Act of Bankruptcy or (c) as to which the Trustee has received an opinion of counsel experienced in bankruptcy matters to the effect that payment to the Bondholders of such moneys
Eligible Moneys. Any moneys on deposit in trust with the Trustee for the benefit of the Noteholders with respect to which the Trustee and the Insurer have received an unqualified Opinion of Counsel nationally recognized as expert in bankruptcy acceptable to the Trustee and the Insurer that payment of such amounts to the Noteholders would not constitute avoidable preferences under Section 547 of the United States Bankruptcy Code or simxxxx xxxxx xxxx xxxx xxxxxxxxx xreference provisions in the event of the filing of a petition for relief under the United States Bankruptcy Code or similar state laws with avoidable preference provisions by or against the Issuer or any borrower or the person from whom the money is received, if other than the Issuer or the borrower.