Available Money definition

Available Money means all amounts as to which the Trustee and the Credit Facility Providers have received an Opinion of Counsel stating that no disbursement thereof pursuant to this Bond Indenture may be avoided or otherwise recovered under Section 547 (or under Section 550 in respect of such Section) of the Bankruptcy Code or under any similar provision of applicable state law in the event of the bankruptcy, insolvency, liquidation, reorganization, or similar proceeding in respect of the Issuer or the Borrower.

Available Money has the meaning stated in Section 1.01 of the Bond Indenture.

Available Money means funds which have cleared on your account, less any loan, budget or other payments which are due to someone (including us).

Examples of Available Money in a sentence

• No further interest shall accrue on the principal of any Bond called for redemption (or the applicable portion of a Bond called for redemption in part) after the redemption date if Available Money (as defined in the Indenture) sufficient for such redemption has been deposited with the Trustee.

• No such optional redemption shall occur unless there shall be available in the Bond Fund established under the Indenture sufficient Available Money (as defined in the Indenture) to pay all amounts due with respect to such redemption.

• On or prior to the Substitution Date, the Owners of the Bonds shall be required to deliver their Bonds to the Tender Agent for purchase at the Purchase Price, and any Undelivered Bond for which there has been irrevocably deposited in trust with the Trustee or the Tender Agent an amount of Available Money sufficient to pay the Purchase Price shall be deemed to have been purchased pursuant to this Section 5.03 and no longer Outstanding.

• Upon the giving of notice of redemption as required by Section 4.03 and the deposit of Available Money with the Trustee, in an amount sufficient to redeem all Bonds so called for redemption, on or prior to the date fixed for redemption, as provided in this Article, interest on the Bonds or portions thereof so called for redemption shall no longer accrue after the date fixed for redemption.

• Such notice shall contain such matters specified in the Bonds for the redemption thereof and shall state that such redemption is conditional upon the receipt of Available Money by the Trustee for such purpose on or prior to the redemption date.

More Definitions of Available Money

Available Money means (i) money derived from drawings under the Letter of Credit, (ii) money held by the Trustee in funds and accounts established under this Indenture for a period of at least one hundred twenty-four (124) days and not commingled with any money so held for less than said one hundred twenty-four (124) day period and during and prior to which period, no petition in bankruptcy was filed by or against the Company or the Authority under the Bankruptcy Code or any applicable state bankruptcy or insolvency law, unless such petition was dismissed and all applicable appeal periods have expired without an appeal having been filed, (iii) investment income derived from the investment of money described in clauses (i) or (ii) above, or (iv) any other money, if the Trustee and the Letter of Credit Bank have received an opinion of nationally recognized counsel acceptable to Xxxxx’x experienced in bankruptcy matters to the effect that payment of the principal or purchase price of or interest on the Bonds with such money would not, in the event of bankruptcy of the Company, the Authority, any affiliate of the Company or other payor, constitute a voidable preference under the Bankruptcy Code or any applicable state bankruptcy or insolvency law.

Available Money. , in relation to a person, means money held by, or on behalf of, the person, but does not include deposit money or money to which section 50B applies;

Available Money. , in relation to a person, means money that:

Available Money means funds which have cleared on your account, less any loan or other payments which are due to someone (including us).

Available Money means (i) proceeds of drawings on the Credit Facility, including investment earnings thereon, (ii) proceeds of the remarketing of the Bonds deposited in the Bond Purchase Fund in accordance with Section 2.16 hereof, including

Available Money means (i) proceeds of the Series 2009I Bonds, (ii) any payments or prepayments on a Ginnie Mae Certificate, (iii) any payments made by the Series 2009I Developer and held by the Trustee for a period of 365 days, if no Act of Bankruptcy has occurred during such period, or(iv) any money, including proceeds of refunding bond issues, with respect to which the Trustee has received an Opinion acceptable to the Rating Agency of nationally recognized bankruptcy counsel to the effect that the use by the Trustee of such money in accordance with the Series 2009I Supplemental Indenture would not constitute an avoidable preference or be subject to the automatic stay provisions of Sections 547 and 362(a), respectively, of the United States Bankruptcy Code or similar laws of the United States of America or the State in the event a petition in bankruptcy is filed by or against the Authority or the Series 2009I Developer.

Available Money means, as of any date of determination, any of the following, as applicable: