Examples of Defeasance Collateral in a sentence
The covenants of the City and the State described above shall be of no force and effect with respect to anyBond if there is on deposit in trust with a bank or trust company sufficient cash or Defeasance Collateral to pay when due all principal of, applicable redemption premium, if any, and interest on such Bond.
Lender shall not in any way be liable by reason of any insufficiency in the Defeasance Collateral Account.
The covenants of the City and the State described above shall be of no force and effect with respect to anyBond if there is on deposit in trust with a bank or trust company sufficient cash or Defeasance Collateral to paywhen due all principal of, applicable redemption premium, if any, and interest on such Bond.
The covenants of the City and the State described above shall be of no force and effect with respect to anyBond if there is on deposit in accordance with the Indenture sufficient cash or Defeasance Collateral to pay whendue all principal of, applicable redemption premium, if any, and interest on such Bond.
Borrower shall prepay all cost and expenses associated with opening and maintaining the Defeasance Collateral Account.