Conduit Security definition

Conduit Security means a security issued by a Municipal Issuer (as defined in this paragraph) involving an ar- rangement or agreement entered into, directly or indirectly, with a person other than a Municipal Issuer, which arrangement or agreement provides for or secures repayment of the security. Municipal Issuer means a state or terri- tory of the United States (including the District of Columbia), or any polit- ical subdivision or public instrumen- tality of a state or territory of the United States. A Conduit Security does not include a security that is:
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Conduit Security means a security issued by a municipal issuer (as defined in this paragraph (a)(7)) involving an arrangement or agreement entered into, directly or indirectly, with a per- son other than a municipal issuer, which arrangement or agreement pro- vides for or secures repayment of the security. Municipal issuer means a state or territory of the United States (in- cluding the District of Columbia), or any political subdivision or public in- strumentality of a state or territory of the United States. A conduit security does not include a security that is:
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Conduit Security means asecurity issued by a Municipal Issuer (as hereinafter defined) involving anarrangement or agreement entered into, directly or indirectly, with a personother than a Municipal Issuer, whicharrangement or agreement provides for or secures repayment of the security.Municipal Issuer shall mean a state or territory of the United States (including the District of Columbia), or anypolitical subdivision or publicinstrumentality of a state or territory of the United States. A Conduit Security does not include a security that is:
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Examples of Conduit Security in a sentence

  • Immediately after the Acquisition of any Second Tier Conduit Security, a money mar- ket fund that is a Tax Exempt Fund shall not have invested more than the greater of one percent of its Total As- sets or one million dollars in securities issued by that issuer that are Second Tier Conduit Securities.(ii) Issuer Diversification Calculations.

  • A Conduit Security shall be deemed to be issued by the person (other than the Municipal Issuer) ultimately responsible for payments of interest and principal on the security.

  • Immediatelyafter the Acquisition of any Second Tier Conduit Security, a money mar- ket fund that is a Tax Exempt Fund shall not have invested more than the greater of one percent of its Total As- sets or one million dollars in securities issued by that issuer that are Second Tier Conduit Securities.(ii) Issuer Diversification Calculations.

  • A Conduit Security is a security in which the municipal issuer serves as a conduit for tax‐exempt financing to a non‐governmental entity.

  • The Thekwini Warehousing Conduit Security SPV (RF) Proprietary Limited has consented to the aforementioned reductions.

  • Immediately after the Acquisition of any Second Tier Conduit Security, a money market fund that is a Tax Exempt Fund shall nothave invested more than the greater of one percent of its Total Assets or one million dollars in securities issued by that issuer which are Second TierConduit Securities.(ii) Issuer Diversification Calculations.For purposes of making calculationsunder paragraph (c)(4)(i) of this section:(A) Repurchase Agreements.

  • Immediately after the Acquisition of any Second Tier Conduit Security, a money market fund that is a Tax Exempt Fund shall nothave invested more than the greater of one percent of its Total Assets or one million dollars in securities issued bythat issuer that are Second Tier Conduit Securities.(ii) Issuer Diversification Calculations.For purposes of making calculationsunder paragraph (c)(4)(i) of this section:(A) Repurchase Agreements.

  • Immediatelyafter the Acquisition of any Second Tier Conduit Security, a money mar- ket fund that is a Tax Exempt Fund shall not have invested more than the greater of one percent of its Total As- sets or one million dollars in securities issued by that issuer that are Second Tier Conduit Securities.(ii) Issuer Diversification Calculations.For purposes of making calculations under paragraph (c)(4)(i) of this sec- tion:(A) Repurchase Agreements.


More Definitions of Conduit Security

Conduit Security means a security issued by a Municipal Issuer (as defined in this paragraph) involving an arrangement or agreement entered into, directly or indi- rectly, with a person other than a Municipal Issuer, which arrangement or agreement pro- vides for or secures repayment of the secu- rity. Municipal Issuer means a State or terri- tory of the United States (including the Dis- trict of Columbia), or any political subdivi- sion or public instrumentality of a State or territory of the United States. A Conduit Se- curity does not include a security that is:
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Related to Conduit Security

  • Investment security means a marketable obligation in the form of a bond, note, or debenture, commonly regarded as an investment security and which is salable under ordinary circumstances with reasonable promptness at a fair value.

  • Conduit Lender any special purpose corporation organized and administered by any Lender for the purpose of making Loans otherwise required to be made by such Lender and designated by such Lender in a written instrument; provided, that the designation by any Lender of a Conduit Lender shall not relieve the designating Lender of any of its obligations to fund a Loan under this Agreement if, for any reason, its Conduit Lender fails to fund any such Loan, and the designating Lender (and not the Conduit Lender) shall have the sole right and responsibility to deliver all consents and waivers required or requested under this Agreement with respect to its Conduit Lender, and provided, further, that no Conduit Lender shall (a) be entitled to receive any greater amount pursuant to Section 2.18, 2.19, 2.20 or 10.5 than the designating Lender would have been entitled to receive in respect of the extensions of credit made by such Conduit Lender or (b) be deemed to have any Commitment.

  • Conduit Assignee means any multi-seller commercial paper conduit or special purpose entity funded by a multi-seller commercial paper conduit which is, in either case, administered by a common manager or an Affiliate of a CP Conduit, or the collateral trustee of such entity.

  • Money Market Security shall be deemed to include, without limitation, certain Reverse Repurchase Agreements, debt obligations issued or guaranteed as to interest and principal by the government of the United States or agencies or instrumentalities thereof, any tax, bond or revenue anticipation note issued by any state or municipal government or public authority, commercial paper, certificates of deposit and bankers' acceptances, repurchase agreements with respect to the same and bank time deposits, where the purchase and sale of such securities normally requires settlement in federal funds on the same day as such purchase or sale.

  • Commercial Paper means promissory notes of any Conduit issued by such Conduit in the commercial paper market.

  • Liquidity Bank means the Person or Persons who provide liquidity support to any Conduit Lender pursuant to a Liquidity Agreement in connection with the issuance by such Conduit Lender of Commercial Paper Notes.

  • Conduit Purchaser means each commercial paper conduit that is or becomes a party to this Agreement as a “Conduit Purchaser.”

  • CP Conduit means any limited-purpose entity established to use the direct or indirect proceeds of the issuance of Commercial Paper Notes to finance financial assets.

  • Bid Security (BS) means Earnest Money Deposit / monetary or financial guarantee to be furnished by a bidder along with its tender.

  • Liquidity Account has the meaning set forth in Section 6.22(a).

  • Investment Vehicle means a corporation, partnership, limited partnership, limited liability company, association, or other entity, either domestic or foreign, managed by an external manager in which a board is the majority investor and that is organized in order to invest with, or retain the investment management services of, other external managers.

  • Commercial Paper Notes means short-term promissory notes issued or to be issued by a Conduit Purchaser to fund its investments in accounts receivable or other financial assets.

  • Loaned Security means any “security” which is delivered as a Loan under a Securities Loan Agreement; provided that, if any new or different security shall be exchanged for any Loaned Security by recapitalization, merger, consolidation, or other corporate action, such new or different security shall, effective upon such exchange, be deemed to become a Loaned Security in substitution for the former Loaned Security for which such exchange was made.

  • Conduit Credit Enhancer shall have the meaning assigned to such term in Section 14(d).

  • CP Rate means, for any Conduit Purchaser and for any Yield Period (or portion thereof) for any Portion of Capital, the per annum rate equivalent to the weighted average cost (as determined by the applicable Group Agent and which shall include commissions of placement agents and dealers, incremental carrying costs incurred with respect to Notes of such Person maturing on dates other than those on which corresponding funds are received by such Conduit Purchaser, other borrowings by such Conduit Purchaser (other than under any Program Support Agreement) and any other costs associated with the issuance of Notes) of or related to the issuance of Notes that are allocated, in whole or in part, by the applicable Conduit Purchaser to fund or maintain such Portion of Capital (and which may be also allocated in part to the funding of other assets of such Conduit Purchaser); provided, however, that if any component of such rate is a discount rate, in calculating the “CP Rate” for such Portion of Capital for such Yield Period (or portion thereof), the applicable Group Agent shall for such component use the rate resulting from converting such discount rate to an interest bearing equivalent rate per annum; provided, further, that notwithstanding anything in this Agreement or the other Transaction Documents to the contrary, the Seller agrees that any amounts payable to Conduit Purchasers in respect of Yield for any Yield Period (or portion thereof) with respect to any Portion of Capital funded by such Conduit Purchasers at the CP Rate shall include an amount equal to the portion of the face amount of the outstanding Notes issued to fund or maintain such Portion of Capital that corresponds to the portion of the proceeds of such Notes that was used to pay the interest component of maturing Notes issued to fund or maintain such Portion of Capital, to the extent that such Conduit Purchasers had not received payments of interest in respect of such interest component prior to the maturity date of such maturing Notes (for purposes of the foregoing, the “interest component” of Notes equals the excess of the face amount thereof over the net proceeds received by such Conduit Purchaser from the issuance of Notes, except that if such Notes are issued on an interest-bearing basis its “interest component” will equal the amount of interest accruing on such Notes through maturity). Notwithstanding the foregoing, the “CP Rate” for any Conduit Purchaser for any day while a Termination Event has occurred and is continuing shall be an interest rate equal to the greater of (i) 2.00% per annum above the Base Rate for each day during such Yield Period (or portion thereof) and (ii) 2.00% per annum above the “CP Rate” calculated without giving effect to such Termination Event.

  • Collateral Fund The fund established and maintained pursuant to Section 3.01 hereof.

  • Principal Funding Account shall have the meaning specified in subsection 4.03(a)(i).

  • Mortgage Interest Rate The annual rate of interest borne on a Mortgage Note.

  • Component Security means with respect to an Index, each component security of that Index.

  • Fixed Rate Mortgage Loan A fixed rate mortgage loan purchased pursuant to this Agreement.

  • Mortgage Interest Rate Cap With respect to an Adjustable Rate Mortgage Loan, the limit on each Mortgage Interest Rate adjustment as set forth in the related Mortgage Note.

  • Liquidity Account Investments means Deposit Securities or any other security or investment owned by the Fund that is rated not less than A3 by Moody’s, A- by Standard & Poor’s, A- by Fitch or an equivalent rating by any other NRSRO (or any such rating’s future equivalent).

  • Indexed Security means a Security the terms of which provide that the principal amount thereof payable at Stated Maturity may be more or less than the principal face amount thereof at original issuance.

  • Deposit Secured Loan means a loan in which the only collateral securing the loan is Assumed Deposits or deposits at other insured depository institutions

  • Relevant Security means any share of Common Stock, any warrant to purchase shares of Common Stock or any other security of the Company or any other entity that is convertible into, or exercisable or exchangeable for, shares of Common Stock or any other equity security of the Company, in each case owned beneficially or otherwise by the undersigned on the date of closing of the Public Offering or acquired by the undersigned during the Lock-Up Period. The restrictions in the foregoing paragraph shall not apply to any exercise (including a cashless exercise or broker-assisted exercise and payment of tax obligations) of options or warrants to purchase shares of Common Stock; provided that any shares of Common Stock received upon such exercise, conversion or exchange will be subject to this Lock-Up Period. The Lock-Up Period will commence on the date of this Lock-up Agreement and continue and include the date that is one-hundred and eighty (180) days after the closing of the Public Offering. In addition, the undersigned further agrees that, except for the registration statement filed or to be filed in connection with the Public Offering, during the Lock-Up Period the undersigned will not, without the prior written consent of the Representative: (a) file or participate in the filing with the SEC of any registration statement or circulate or participate in the circulation of any preliminary or final prospectus or other disclosure document, in each case with respect to any proposed offering or sale of a Relevant Security, or (b) exercise any rights the undersigned may have to require registration with the SEC of any proposed offering or sale of a Relevant Security. In furtherance of the undersigned’s obligations hereunder, the undersigned hereby authorizes the Company during the Lock-Up Period to cause any transfer agent for the Relevant Securities to decline to transfer, and to note stop transfer restrictions on the stock register and other records relating to, Relevant Securities for which the undersigned is the record owner and the transfer of which would be a violation of this Lock-Up Agreement and, in the case of Relevant Securities for which the undersigned is the beneficial but not the record owner, agrees that during the Lock-Up Period it will cause the record owner to cause the relevant transfer agent to decline to transfer, and to note stop transfer restrictions on the stock register and other records relating to, such Relevant Securities to the extent such transfer would be a violation of this Lock-Up Agreement. Notwithstanding the foregoing, the undersigned may transfer the undersigned’s Relevant Securities:

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).