Bond Defeasance definition

Bond Defeasance shall have the meaning given to it in Clause 18.2.
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Bond Defeasance shall have the meaning given to it in Clause 18.2. “Bond Issue” means the bond issue constituted by the Bonds.
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Bond Defeasance means legal defeasance of the Bonds in accordance with the terms of the Bond Documents;
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Examples of Bond Defeasance in a sentence

  • The Escrow Agent hereby creates on its books a special trust and irrevocable escrow fund to be known as City of Arlington, Texas, Cowboys Complex Bond Defeasance Escrow Fund No.1 (the “Escrow Fund”) for the purpose of paying the principal of and interest on the Defeased Bonds, as described in Exhibit A, in order to make firm banking arrangements therefor.

  • On and after the Bond Defeasance Date until the Agreement Termination Date, the District and the City shall contribute Existing Funds annually to the Authority (“Post Defeasance Payments”) and such Post Defeasance Payments shall be distributed to the District and City as set forth in Section 3.5.

  • Seller(s) shall establish the Bond Defeasance Escrow and complete other tasks necessary to complete the defeasance of the Bond Indebtedness.

Related to Bond Defeasance

  • Covenant Defeasance has the meaning specified in Section 1303.

  • Legal Defeasance has the meaning set forth in Section 9.02.

  • Scheduled Defeasance Payments shall have the meaning set forth in Section 2.5.1(b) hereof.

  • Defeasance has the meaning specified in Section 1302.

  • Legal Defeasance Option is defined in Section 4.01(b) of the Indenture.

  • Covenant Defeasance Option is defined in Section 4.01(b) of the Indenture.

  • Defeasance Period is defined in the Note, if applicable.

  • Additional Defeasible Provision means a covenant or other provision that is (a) made part of this Indenture pursuant to an indenture supplemental hereto, a Board Resolution or an Officer’s Certificate delivered pursuant to Section 3.1, and (b) pursuant to the terms set forth in such supplemental indenture, Board Resolution or Officer’s Certificate, made subject to the provisions of Article Thirteen.

  • Defeasance Securities means (i) Federal Securities, (ii) noncallable obligations of an agency or instrumentality of the United States of America, including obligations that are unconditionally guaranteed or insured by the agency or instrumentality and that, on the date the Commissioners Court adopts or approves proceedings authorizing the issuance of refunding bonds or otherwise provide for the funding of an escrow to effect the defeasance of the Bonds are rated as to investment quality by a nationally recognized investment rating firm not less than "AAA" or its equivalent, (iii) noncallable obligations of a state or an agency or a county, municipality, or other political subdivision of a state that have been refunded and that, on the date the Commissioners Court adopts or approves proceedings authorizing the issuance of refunding bonds or otherwise provide for the funding of an escrow to effect the defeasance of the Bonds, are rated as to investment quality by a nationally recognized investment rating firm no less than "AAA" or its equivalent, and (iv) any other then authorized securities or obligations under applicable State law that may be used to defease obligations such as the Bonds.

  • Defeasance Obligations means any of the following obligations:

  • Defeasance Collateral means: (i) a Xxxxxxx Mac Debt Security, (ii) a Xxxxxx Mae Debt Security, (iii) U.S. Treasury Obligations, or (iv) FHLB Obligations.

  • Defeasance Agent means another financial institution which is eligible to act as Trustee hereunder and which assumes all of the obligations of the Trustee necessary to enable the Trustee to act hereunder. In the event such a Defeasance Agent is appointed pursuant to this Section, the following conditions shall apply:

  • Defeasance Date shall have the meaning set forth in Section 2.5.1(a)(i) hereof.

  • Defeasance Event shall have the meaning set forth in Section 2.5.1(a) hereof.

  • Defeasance Deposit means an amount equal to the remaining principal amount of the Note, the Defeasance Payment Amount, any costs and expenses incurred or to be incurred in the purchase of U.S. Obligations necessary to meet the Scheduled Defeasance Payments and any revenue, documentary stamp or intangible taxes or any other tax or charge due in connection with the transfer of the Note or otherwise required to accomplish the agreements of Sections 2.4 and 2.5 hereof (including, without limitation, any fees and expenses of accountants, attorneys and the Rating Agencies incurred in connection therewith).

  • trust money means money held in trust on behalf of third parties in a trust contemplated in terms of Section 12 of the Act.

  • Discharge of Second Lien Obligations means the occurrence of all of the following:

  • Discharge of Priority Lien Obligations means the occurrence of all of the following:

  • Maximum daily discharge limitation means the highest allowable “daily discharge.”

  • Warrant Indenture means the warrant indenture to be entered into on the Closing Date between the Warrant Agent and the Company in relation to the Warrants, as amended from time to time; and

  • Senior Subordinated Note Indenture the Indenture entered into by the Borrower and certain of its Subsidiaries in connection with the issuance of the Senior Subordinated Notes, together with all instruments and other agreements entered into by the Borrower or such Subsidiaries in connection therewith, as the same may be amended, supplemented or otherwise modified from time to time in accordance with Section 7.9.

  • Discharge of Senior Obligations means the date on which the Discharge of Credit Agreement Obligations and the Discharge of each Additional Senior Debt Facility has occurred.

  • Senior Subordinated Indenture means the Indenture, dated as of August 30, 2007, among the Company, the subsidiary guarantors party thereto from time to time and Xxxxx Fargo Bank, National Association, as trustee, governing the 13.5% Senior Subordinated Notes due 2015 of the Company, as the same may be amended, supplemented, waived or otherwise modified from time to time.

  • Discharge of First Lien Obligations shall have the meaning assigned to such term in the Intercreditor Agreement.