First Mortgage Bond Fund definition

First Mortgage Bond Fund means the fund established with the Trustee pursuant to Section 5.03.
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Examples of First Mortgage Bond Fund in a sentence

  • There shall be deposited to the credit of the First Mortgage Bond Fund all payments, if any, made on the First Mortgage Bonds, if any.

  • The moneys in the First Mortgage Bond Fund shall be held by the Trustee in trust and applied to the amounts which the Company may be required to pay to the Trustee for deposit in the Bond Fund and, pending such application, shall be subject to a lien and charge in favor of the Bondholders.

  • A First Mortgage Bond Fund is hereby established with the Trustee.

  • The moneys in the First Mortgage Bond Fund shall be held by the Trustee in trust in the Debt Service Fund and applied first to the amounts which the Company may be required to pay to the Trustee or the Paying Agent, as appropriate, and the balance, if any, shall be applied to the redemption of Bonds and, pending such application, shall be subject to a lien and charge in favor of the Bondowners.

  • There is hereby established and created a fund to be designated “Polk County Industrial Development Authority Solid Waste Disposal Facility Revenue Refunding Bonds (Tampa Electric Company Project) Series 2010 First Mortgage Bond Fund.” The First Mortgage Bond Fund will be opened upon issuance of the First Mortgage Bonds, if any, pursuant to Section 2.02.

  • There is hereby established and created a fund to be designated “Hillsborough County Industrial Development Authority Pollution Control Facility Revenue Refunding Bonds (Tampa Electric Company Project) Series 2006 First Mortgage Bond Fund.” There shall be deposited to the credit of the First Mortgage Bond Fund all payments, if any, made on the First Mortgage Bonds, if any.

  • The moneys in the First Mortgage Bond Fund shall be held by the Trustee in trust and applied first to the amounts which the Company may be required to pay to the Trustee or the Paying Agent, as appropriate, for deposit in the Debt Service Fund and the balance, if any, shall be transferred to the Redemption Fund and, pending such application, shall be subject to a lien and charge in favor of the Bondowners.

  • There is hereby established and created a fund to be designated “Polk County Industrial Development Authority Solid Waste Disposal Facility Revenue Refunding Bonds (Tampa Electric Company Project) Series 2007 First Mortgage Bond Fund.” There shall be deposited to the credit of the First Mortgage Bond Fund all payments, if any, made on the First Mortgage Bonds, if any.

  • There shall be deposited to the credit of the First Mortgage Bond Fund for such series all payments, if any, made on the First Mortgage Bonds, if any securing such series of Bonds.

  • The moneys in the First Mortgage Bond Fund shall be held by the Trustee in trust and applied to the amounts which the Company may be required to pay to the Trustee for deposit in the Bond Fund for the applicable series of Bonds and, pending such application, shall be subject to a lien and charge in favor of the Bondholders of such series.

Related to First Mortgage Bond Fund

  • First Mortgage Bonds means bonds issued by the Company pursuant to the Indenture.

  • First Mortgage means a Mortgage that constitutes a first Lien on the real property and improvements described in or covered by that Mortgage.

  • First Mortgage Indenture means a first mortgage indenture pursuant to which any Borrower or any Subsidiary of any Borrower may issue bonds, notes or similar instruments secured by a lien on all or substantially all of such Borrower’s or such Subsidiary’s fixed assets, as the case may be.

  • First Mortgage Loan A Home Equity Loan which constitutes a first priority mortgage lien with respect to any Property.

  • Bond Fund means the fund created by Section 6.02 of the Indenture.

  • First Mortgagee means the holder of any First Mortgage.

  • Senior Bonds means all Bonds issued as Senior Bonds in compliance with the provisions of the Indenture.

  • Existing Bonds means the following obligations of Seller:

  • Net Mortgage Interest Rate As to any Mortgage Loan and Distribution Date, such Mortgage Loan's Mortgage Interest Rate thereon on the first day of the month preceding the month of the related Distribution Date reduced by (i) the Servicing Fee Rate and (ii) the Trustee Fee Rate.

  • Mortgage Indenture means the Mortgage and Deed of Trust, dated as of April 1, 1932, between SIGECO and Bankers Trust Company (as supplemented from time to time before or after the date hereof by various supplemental indentures thereto).

  • Net Mortgage Pass-Through Rate (a) With respect to any Mortgage Loan (including an REO Mortgage Loan) that accrues interest on a 30/360 Basis, for any Distribution Date, the Net Mortgage Rate in effect for such Mortgage Loan during the one-month accrual period applicable to the Due Date for such Mortgage Loan that occurs in the same month as that Distribution Date; and (b) with respect to any Mortgage Loan (including an REO Mortgage Loan) that accrues interest on an Actual/360 Basis, for any Distribution Date, the annualized rate at which interest would have to accrue in respect of such Mortgage Loan on a 30/360 Basis in order to produce the aggregate amount of interest actually accrued (or, in the event of a voluntary or involuntary principal prepayment affecting same, that otherwise would have accrued) in respect of such Mortgage Loan (adjusted to the related Net Mortgage Rate and, if applicable, exclusive of any Excess Interest) during the one-month accrual period applicable to the Due Date for such Mortgage Loan that occurs in the same month as that Distribution Date. However, with respect to each Mortgage Loan that accrues interest on an Actual/360 Basis, when determining: (i) the related Net Mortgage Pass-Through Rate for the Distribution Date in January (except during a leap year) or February of any year subsequent to 2017 (in any event unless that Distribution Date is the final Distribution Date), the “aggregate amount of interest actually accrued (or, in the event of a voluntary or involuntary principal prepayment affecting same, that otherwise would have accrued)”, as referred to in clause (b) of the preceding sentence, shall be deemed to exclude related Withheld Amounts to be transferred to the Interest Reserve Account in such month; or (ii) the related Net Mortgage Pass-Through Rate for the Distribution Date in March (or in February if the final Distribution Date occurs in such particular month of February) in any year subsequent to 2017, the “aggregate amount of interest actually accrued (or, in the event of a voluntary or involuntary principal prepayment affecting same, that otherwise would have accrued)”, as referred to in clause (b) of the preceding sentence, shall be deemed to include related Withheld Amounts to be deposited in the Lower-Tier REMIC Distribution Account for distribution on such Distribution Date. In addition, the Net Mortgage Pass-Through Rate with respect to any Mortgage Loan for any Distribution Date shall be determined without regard to: (i) any modification, waiver or amendment of the terms of such Mortgage Loan, whether agreed to by the Master Servicer, the Special Servicer, an Outside Servicer or an Outside Special Servicer or resulting from a bankruptcy, insolvency or similar proceeding involving the related borrower; (ii) the occurrence and continuation of a default under such Mortgage Loan; (iii) the passage of the related maturity date or, in the case of an ARD Mortgage Loan, the related Anticipated Repayment Date; and (iv) the related Mortgaged Property becoming an REO Property.

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • Series 2019 Bonds means, collectively, the Series 2019A Bonds and the Series 2019B Bonds.

  • Subordinate Bonds means all Bonds but Senior Bonds.

  • Blanket Mortgage The mortgage or mortgages encumbering a Cooperative Property.

  • Prior Bonds means the assessment bonds that are refunded in part or in whole by refunding assessment bonds.

  • Reserve Fund Initial Deposit means the initial deposit of cash in the amount of $3,846,153.85 made by or on behalf of the Seller into the Reserve Fund on the Closing Date.

  • Series 2017 Bonds means, collectively, the Series 2017A Bonds and the Series 2017B Bonds.

  • Refunding Bonds means Bonds issued pursuant to provisions of this Master Indenture, the proceeds of which are used to refund one or more Series of Outstanding Bonds.

  • Deeds of Trust means, collectively, (i) the Deeds of Trust, Assignments, Security Agreements and Financing Statements, (ii) the Mortgages, Assignments, Security Agreements and Financing Statements, and (iii) the Deeds to Secure Debt, Assignments, Security Agreements and Financing Statements from the Borrowers, constituting Liens on the Mortgaged Sites as Collateral for the Loan as the same have been, or may be, assigned, modified or amended from time to time.

  • Refunding Bond means any Bond authenticated and delivered on original issuance pursuant to the Second Resolution for the purpose of refunding any Outstanding Bonds, or thereafter authenticated and delivered pursuant to the Second Resolution in lieu of or substitution for such Bond.

  • Debt bondage means the status or condition of a debtor arising from a pledge by the debtor of his or her personal services or of those of a person under his or her control as a security for debt, if the value of those services as reasonably assessed is not applied

  • Refunded Bonds means the portion of the $205,000 of the Series K Bonds now outstanding that are stated to mature on December 1 in each of the years 2021 and 2022 that is to be refunded by the Bonds, as determined by the Fiscal Officer and specified in the Certificate of Award at the time of the sale of the Bonds in accordance with Section 2.

  • Series 2020 Bonds means the West Virginia Hospital Finance Authority Refunding Revenue Bonds (Thomas Health System, Inc.), Series 2020 A to be issued as a combination of tax-exempt and taxable non-rated fixed rate bonds by the Issuer, subject to its authority and discretion, in the aggregate principal amount of $60,100,000, to (i) refund and retire the Series 2008 Bonds at a discount to the current par amount outstanding, (ii) fund a debt service reserve fund for the Series 2020 Bonds, (iii) fund the Operating Reserve Fund, if necessary, as described in Article IV.C.1 of the Plan and (iv) finance costs of issuance of the Series 2020 Bonds.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Escrowed Bonds means Municipal Obligations that (i) have been determined to be legally defeased in accordance with S&P’s legal defeasance criteria, (ii) have been determined to be economically defeased in accordance with S&P’s economic defeasance criteria and assigned a rating of AAA by S&P, (iii) are not rated by S&P but have been determined to be legally defeased by S&P or (iv) have been determined to be economically defeased by S&P and assigned a rating no lower than the rating that is S&P equivalent of S&P’s AAA rating. In the event that a defeased obligation which is an S&P Eligible Asset does not meet the criteria of an Escrowed Bond, such Municipal Obligation will be deemed to remain in the Issue Type Category into which it fell prior to such defeasance.