Approved Debt definition

Approved Debt. A Debt You Tell Us about which is Unpaid, within the relevant Customer’s Credit Limit and which is not or has not become a Disapproved Debt;

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Approved Debt means public or private debt of the Public Entity that is consented to and approved, in writing, by the Commissioner of MMB, the proceeds of which were or will used to acquire an ownership interest in or improve the Real Property and, if applicable, Facility, other than the debt on the G.O. Bonds. Approved Debt includes, but is not limited to, all debt delineated in Attachment III to this Agreement; provided, however, the Commissioner of MMB is not bound by any amounts delineated in such attachment unless he/she has consented, in writing, to such amounts.

Approved Debt. – means public or private debt of the Public Entity that is consented to and approved, in writing, by the Commissioner of MMB, the proceeds of which were or will used to acquire an ownership interest in or improve the Real Property and, if applicable, Facility, other than the debt on the G.O. Bonds. Approved Debt includes, but is not limited to, all debt delineated in Attachment III to this Agreement; provided, however, the Commissioner of MMB is not bound by any amounts delineated in such attachment unless he/she has consented, in writing, to such amounts.

Examples of Approved Debt in a sentence

• It does not reasonably expect to receive payments under a Use Contract in excess of the amount the Public Entity needs and is authorized to use to pay the operating expenses of the portion of the Real Property and, if applicable, Facility that is the subject of the Use Contract or to pay the principal, interest, redemption premiums, and other expenses on any Approved Debt.

• We may at any time treat all or any part of an Approved Debt as a Disapproved Debt.

• The portion of such excess monies that the Public Entity must and shall pay to the Commissioner of MMB shall be determined by the Commissioner of MMB, and absent circumstances which would indicate otherwise such portion shall be determined by multiplying such excess monies by a fraction the numerator of which is the G.O. Grant and the denominator of which is sum of the G.O. Grant and the Approved Debt.

• Upon payment of an Approved Debt, Disapproved Debts which then come within the Credit Limit may become Approved Debts.

• If an Approved Debt becomes a Disapproved Debt You must at once Repay it in the currency of the Current Account relating to it.

More Definitions of Approved Debt

Approved Debt means Indebtedness incurred by the Parent or any subsidiary thereof (other than NMTC Subsidiaries) (a) having a final stated maturity date that is earlier than the Permitted Debt Maturity Date, and (b) in an aggregate principal amount at any one time outstanding not in excess of $10,000,000.

Approved Debt means a debt approved by the Society at the time it is incurred;

Approved Debt has the meaning set forth in Section 3.10(b).

Approved Debt means Indebtedness incurred by the Parent or any subsidiary thereof (a) having a final stated maturity date that is earlier than the Permitted Debt Maturity Date, and (b) in an aggregate principal amount at any one time outstanding not in excess of $10,000,000.

Approved Debt. A Debt Notified to us:

Approved Debt means public or private debt of the Public Entity that is consented to and approved, in writing, by the Commissioner of MMB, the proceeds of which were or will used to acquire an ownership interest in or improve the Real Property and, if applicable, Facility, other than the debt on the G.O. Bonds.

Approved Debt. A Debt Notified to us: (1) which is within the relevant Credit Limit; (2) which has not become a Disapproved Debt pursuant to conditions 5.7 and 5.8; and (3) in respect of which we have not exercised our right of Recourse.