Crossover Refunding definition

Crossover Refunding means a refunding of a series of Bonds or Additional Bonds issued hereunder by the issuance of a series of bonds which are not secured by the Trust Estate until a specified future date but which refunding bonds will on and after the Crossover Date become secured by the Trust Estate.
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Crossover Refunding means a transaction in which Crossover Refunding Bonds are issued to refund Crossover Refunded Bonds and in which a Crossover Amount is deposited in a Crossover Escrow Account.
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Crossover Refunding means an advance refunding in which Crossover Refunding Bonds are issued to refund Crossover Refunded Bonds and in which a Crossover Amount is deposited in a Crossover Escrow Account.
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Examples of Crossover Refunding in a sentence

  • In addition, the bond proceeds from the General Obligation Crossover Refunding bonds of 2017B are used to refund a portion of the General Obligation School Building Refunding Bond, Series 2014A on the call date of February 1, 2023.

  • Together with other available funds, the Crossover Refunding Bonds will finance the cost of refunding the 2009 - 2021 maturities of the County’s General Obligation Capital Improvement Bonds of 2001, Series A, dated March 1, 2001, which are outstanding in the amount of $2,540,000.

  • Restricted cash balances of the District’s funds are holding bond proceeds from the General Obligation Crossover Refunding Bonds of 2016A and are to be used to refund a portion of the General Obligation School Building Refunding Bond, Series 2014A on the call date of February 1, 2023.

  • The Bonds were comprised of two issuances, which included the 2015 Crossover Refunding Bonds of$8,295,000, the proceeds of which were used to advance refund the outstanding balance of the Election of 2006, Series 2008 Current Interest Bonds, and 2018 Crossover Refunding Bonds of $30,715,000, the proceeds of which were used to refund a portion of the outstanding balance of the Election of 2006, Series 2008 Capital Appreciation Bonds.

  • It is the intent of the Issuer that up to and including the Crossover Refunding Date, debt service on the Bonds be payable from the Escrow Account.

  • Section 9.1. The Series 2010A Paying Agent, by its execution and delivery of this Escrow Agreement acknowledges and agrees that prior to the Crossover Refunding Date, neither it nor the holders of the Refunded Bonds have any right, title or interest, or any security interest in or lien on, the Escrowed Securities or the investment earnings thereon or any cash held in the Escrow Account.

  • The owners of the Series 2017B Bonds until the Crossover Refunding Date (or such earlier date that the Refunded Bonds are refunded in accordance with Section 4.1(b) hereof) and thereafter the owners of the Refunded Bonds are hereby given an express lien on and security interest in the Escrowed Securities and in the earnings thereon and the cash, if any, in the Escrow Account until used and applied in accordance with this Escrow Agreement.

  • Upon the issuance of the Series 2017B Bonds, the amounts deposited hereunder will be initially invested in the Escrowed Securities, which shall be delivered to and held by the Escrow Agent in the Escrow Account hereunder on behalf of the City for the benefit of the Series 2017B Paying Agent and the holders of the Series 2017B Bonds until the Crossover Refunding Date and thereafter to the benefit of the Series 2010A Paying Agent and the owners of the Refunded Bonds.

  • Section 9.2. The parties hereto further acknowledge and agree that the Series 2017B Paying Agent and the holders of the Series 2017B Bonds are intended prior to the Crossover Refunding Date to be third party beneficiaries of the Escrow Account and the security interest created in the Escrowed Securities in favor of the Escrow Agent for their benefit hereunder.

  • Section 3.1. By the Bond Resolution, the City has authorized the issuance and delivery of the Series 2017B Bonds, $ of the proceeds of which are to be used to refund on the Crossover Refunding Date (except as otherwise provided in Section 4.1(b) hereof), in whole or in part, the Refunded Bonds.

Related to Crossover Refunding

  • Reallocated Investor Finance Charge Collections means that portion of Group I Investor Finance Charge Collections allocated to Series 1997-1 pursuant to Section 4.10.

  • Refunding Date as defined in Section 2.7.

  • Non-Financed Capital Expenditures means, for any period, Capital Expenditures during such period other than Capital Expenditures funded with the proceeds of Indebtedness (excluding ABL Revolving Loans).

  • Group II Senior Percentage For any Distribution Date, the lesser of (i) 100% and (ii) the aggregate Class Principal Balance of the Group II-A and Residual Certificates divided by the aggregate Class Principal Balance of the Group II Loans (exclusive of the Class II-P Fraction thereof, with respect to any Class II-P Mortgage Loan), in each case immediately before such Distribution Date.

  • Yield Supplement Overcollateralization Amount means, with respect to any calendar month and the related Payment Date, or with respect to the Closing Date, the aggregate amount by which the Principal Balance as of the last day of the related Collection Period or the Cutoff Date, as applicable, of each of the related Receivables with an APR as stated in the related contract of less than the Required Rate, other than Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days.

  • Group I Senior Percentage As of each Distribution Date, the lesser of 100% and a fraction, expressed as a percentage, the numerator of which is the aggregate Certificate Principal Balance of the Group I Certificates immediately prior to such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) in Loan Group I immediately prior to such Distribution Date.

  • Performing Cash Pay Mezzanine Investments means Mezzanine Investments (a) as to which, at the time of determination, not less than 2/3rds of the interest (including accretions and “pay-in-kind” interest) for the current monthly, quarterly, semi-annual or annual period (as applicable) is payable in cash and (b) which are Performing.

  • Super Senior Certificates As specified in the Preliminary Statement.

  • Undercollateralized Group As defined in Section 4.03.

  • Investor Finance Charge Collections means, with respect to any Distribution Date, an amount equal to (a) the product of (i) the Floating Allocation Percentage for the related Due Period and (ii) Allocable Finance Charge Collections deposited in the Collection Account for the related Due Period, minus (b) the aggregate amount of Servicer Interchange for the related Due Period.

  • Overcollateralization Deficiency Amount With respect to any Distribution Date, the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount on such Distribution Date (assuming that 100% of the Principal Remittance Amount is applied as a principal distribution on such Distribution Date).

  • Senior Percentage As of any Distribution Date, the lesser of 100% and a fraction, expressed as a percentage, the numerator of which is the aggregate Certificate Principal Balance of the Senior Certificates (other than the Class A-P Certificates) immediately prior to such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) (other than the related Discount Fraction of each Discount Mortgage Loan) immediately prior to such Distribution Date.

  • Original Class B-6 Percentage The Class B-6 Percentage as of the Cut-Off Date, as set forth in Section 11.13.

  • Class B-4 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-4 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-4 Certificates on such Distribution Date pursuant to Paragraph fourteenth of Section 4.01(a).

  • Off-vehicle charging hybrid electric vehicle (OVC-HEV) means a hybrid electric vehicle that can be charged from an external source.

  • Class B-3 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-3 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-3 Certificates on such Distribution Date pursuant to Paragraph eleventh of Section 4.01(a).

  • Class B-1 Applied Realized Loss Amount As of any Distribution Date, the sum of all Applied Realized Loss Amounts with respect to the Mortgage Loans which have been applied to the reduction of the Certificate Principal Balance of the Class B-1 Certificates.

  • Non-Performing Mezzanine Investments means Mezzanine Investments other than Performing Mezzanine Investments.

  • Overcollateralized Group As defined in Section 4.03.

  • Class C Unpaid Realized Loss Amount As of any Distribution Date, the excess of (1) the Class C Applied Realized Loss Amount over (2) the sum of (x) all distributions in reduction of the Class C Unpaid Realized Loss Amounts on all previous Distribution Dates and (y) all increases in the Certificate Principal Balance of such Class C Certificates pursuant to the last sentence of the definition of "Certificate Principal Balance."

  • Net WAC Rate Carryover Reserve Account The Net WAC Rate Carryover Reserve Account established and maintained pursuant to Section 4.10.

  • Class A Deficiency Amount is defined in Section 4.1(a).

  • Not off-vehicle charging hybrid electric vehicle (NOVC-HEV) means a hybrid electric vehicle that cannot be charged from an external source.

  • Undercollateralized Amount As defined in Section 4.01(b)(iii).

  • Class A Investor Charge-Offs shall have the meaning specified in subsection 4.06(a).

  • Class B-6 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-6 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-6 Certificates on such Distribution Date pursuant to Paragraph twentieth of Section 4.01(a).