Asset Coverage Cure Date definition

Asset Coverage Cure Date means, with respect to the failure by the Fund to maintain Asset Coverage as of the close of business on a Business Day (as required by Section 2.4(a)), the date that is thirty (30) calendar days following such Business Day.

Asset Coverage Cure Date means, with respect to the failure by the Corporation to maintain Asset Coverage as of the close of business on the last Business Day of a Calendar Quarter (as required by Section 2.4(a)), the date that is thirty (30) calendar days following the Filing Date with respect to such Calendar Quarter.

Asset Coverage Cure Date means, with respect to the failure by the Corporation to maintain the Asset Coverage (as required by paragraph 5(a)(i) of Article II hereof) as of the last Business Day of each March, June, September and December of each year, 60 calendar days following such Business Day.

Examples of Asset Coverage Cure Date in a sentence

• The Fund shall maintain Minimum VRDP Shares Asset Coverage of 225% or, if it does not cure a failure to maintain the Minimum VRDP Shares Asset Coverage by the Minimum VRDP Shares Asset Coverage Cure Date, the Fund shall immediately commence a redemption of VRDP Shares, as provided in Section 10(b)(i) of Part I of the Articles Supplementary, out of funds legally available for the redemption of VRDP Shares and in accordance with any other applicable law restrictions that apply to redemptions of stock.

• The Fund shall maintain Minimum VRDP Shares Asset Coverage of 225% or, if it does not cure a failure to maintain the Minimum VRDP Shares Asset Coverage by the Minimum VRDP Shares Asset Coverage Cure Date, the Fund shall immediately commence a redemption of VRDP Shares, as provided in Section 10(b)(i) of Part I of the Statement, out of funds legally available for the redemption of VRDP Shares and in accordance with any other applicable law restrictions that apply to redemptions of stock.

• Upon any failure to maintain Fitch AMPS Asset Coverage or Moody’s AMPS Asset Coverage, the Trust will use its best efforts to alter the composition of its portfolio to achieve both Fitch AMPS Asset Coverage and Moody’s AMPS Asset Coverage on or prior to the Rating Agency AMPS Asset Coverage Cure Date.

• By resolution of the member Boards of Education, the Governing Board, as a legal entity, will serve as the Administrative Agent under Section 10-22.31 of the School Code.The Board constitutes a body corporate that possesses all the usual powers of a corporation for public purposes, and in that name may sue and be sued, purchase, hold and sell personal property and real estate, and enter into such obligations as are authorized by law.LEGAL REF.:Ill.

• Upon any failure to maintain Rating Agency Asset Coverage, the Trust shall use all commercially reasonable efforts to obtain Rating Agency Asset Coverage on or prior to the Rating Agency Asset Coverage Cure Date, by altering the composition of its portfolio or otherwise.

More Definitions of Asset Coverage Cure Date

Asset Coverage Cure Date means, with respect to the failure by the Trust to maintain Asset Coverage of at least 225% as of the close of business on a Business Day (as required by Section 2.4(a)), the date that is seven (7) Business Days following such Business Day.

Asset Coverage Cure Date means, with respect to the failure by the Fund to maintain Asset Coverage of the Term Preferred Shares of at least 225% as of the close of business on a Business Day (as required by Section 2.4(a)), the date that is thirty (30) calendar days following such Business Day.

Asset Coverage Cure Date has the meaning set forth in Section 3(a)(iii).

Asset Coverage Cure Date means, with respect to the failure by the Corporation to satisfy the MRP Shares Asset Coverage Test on the last day of any month, the date that is thirty (30) calendar days following such date.

Asset Coverage Cure Date has the meaning set forth in Section 2.03(a)(ii).

Asset Coverage Cure Date means, with respect to the failure by the Corporation to have Asset Coverage at the time specified in Section 2.4(a), the date that is ninety (90) calendar days following the date of such failure.

Asset Coverage Cure Date means the fifth Business Day following any related Asset Coverage Evaluation Date.