Defeasance Agreement definition

Defeasance Agreement means one or more agreements between the City and the Trustee authorized by Section 8 of this Ordinance concern- ing the defeasance of certain Out- standing Revenue Bonds using funds of the Water Division of the City.
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Defeasance Agreement means an arrangement pursuant to which money or securities are paid to, or deposited with, a depository in the amount designed to pay or discharge in full any liability in respect of any notes, bonds, debentures or debenture stock.
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Examples of Defeasance Agreement in a sentence

  • Mr. Voorhees moved to recommend to the Board of Commissioners approval to authorize the execution of a Defeasance Agreement for Campau/Kettle Lake Sewage Disposal System Bonds, Series 1996.

  • The parties to the Defeasance Agreement would be the City and the Escrow Agent.

  • Laguna Pointe Associates, Ltd., as the Borrower has caused this Escrow Trust Deposit and Defeasance Agreement to be executed by its duly authorized officer as of the date first above written.

  • This Defeasance Agreement may be executed in several counterparts, all or any of which shall be regarded for all purposes as an original and shall constitute and be but one and the same instrument.

  • Concurrently with the execution of this Defeasance Agreement, there are herewith deposited with Trustee, from the Company Funds and the Indenture Funds, immediately available monies in the amount of $13,778,515.01; all of which amounts shall be deposited in the Defeasance Fund; and from such amount the amount of $13,778,158.76 shall be used to purchase the Government Securities described in Exhibit A attached hereto.

  • The foregoing indemnities in this paragraph shall survive the resignation of the Trustee or the termination of this Defeasance Agreement.

  • This Defeasance Agreement shall terminate when the Series 1994 Bonds have been fully paid in accordance with their terms and any remaining monies and Government Securities, together with any interest thereon, in the Defeasance Fund have been transferred by the Trustee to the Company or its successor, in accordance with the applicable provisions of the Indentures.

  • No resignation shall become effective until a successor Trustee has been appointed and has agreed to be bound by the terms of this Defeasance Agreement.

  • The Bonds are being defeased on the date hereof and the Trustee is hereby released from its duties under the Indenture, except as required and necessary for the Trustee to carry out the (i) scheduled redemption of the Bonds on the Redemption Date, and (ii) the duties and obligations set forth in that certain Escrow Trust Deposit and Defeasance Agreement dated as of the date hereof by and among the Authority, the Borrower, the Trustee and The Bank of New York Mellon Trust Company, N.A., as escrow agent.

  • HOUSING FINANCE AUTHORITY OF BROWARD COUNTY, FLORIDA IN WITNESS WHEREOF, The Bank of New York Mellon Trust Company, N.A., has caused this Escrow Trust Deposit and Defeasance Agreement to be executed by its duly authorized officer as of the date first above written.

Related to Defeasance Agreement

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

  • 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 Obligations means any of the following obligations:

  • Defeasance Loan Those Mortgage Loans which provide the related Mortgagor with the option to defease the related Mortgaged Property.

  • Defeasance Deposit means an amount equal to 100% of the remaining principal amount of this Note, the Yield Maintenance Premium, any costs and expenses incurred or to be incurred in the purchase of the 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 this Note or otherwise required to accomplish the agreements of this subsection;

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

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

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

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

  • 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 has the meaning specified in Section 13.2.

  • Repayment Agreement means an agreement

  • Refinancing Agreement as defined in Subsection 8.3(c).

  • Senior Subordinated Note Indenture means the Indenture dated as of May 12, 2009, between the Company and U.S. Bank National Association, as trustee, in respect of the 2020 Senior Subordinated Notes and the 2023 Senior Subordinated Notes, as supplemented and amended from time to time.

  • Finance agreement means a loan, lease, or installment sale agreement for a motor vehicle. The term includes, but is not limited to, an installment sale contract, a retail installment contract, or a retail charge agreement.

  • Paying Agency Agreement means one or more Paying Agency Agreements made

  • Senior Subordinated Note Documents means the Senior Subordinated Notes, the Senior Subordinated Note Agreement, the Senior Subordinated Note Guarantees and all other documents executed and delivered with respect to the Senior Subordinated Notes or the Senior Subordinated Note Agreement.

  • Refinancing Trust Agreement has the meaning specified in Section 9.1(c).

  • Whole Loan Agreement Any Reconstitution Agreement in respect of a Whole Loan Transfer.

  • Replacement Notes means Notes issued to the Beneficial Owners of the Notes in accordance with Article II hereof.

  • Payment Agreement means a written agreement which provides

  • Subordinated Note Indenture means the Indenture dated as of the Closing Date, among the Borrower, the guarantors party thereto and The Bank of New York, as trustee, pursuant to which the Subordinated Notes are issued, as the same may be amended, supplemented or otherwise modified from time to time to the extent permitted by Section 10.7(b).

  • Subordinated Loan Agreement means the subordinated loan agreement dated on or about the Closing Date, as amended from time to time, and entered into by, amongst others, the Issuer, the Subordinated Lender and the Security Trustee, under which the Subordinated Lender will advance (or has advanced) the Subordinated Loan to the Issuer.

  • Master Transaction Agreement has the meaning set forth in the recitals.