Government Certificates definition

Government Certificates mean certificates representing ownership of United States Treasury bond principal at maturity or interest coupons for accrued periods, which bonds or coupons are held in the capacity of custodian by a Custodian that is independent of the seller of such certificates.

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Government Certificates means evidences of ownership of proportionate interests in future principal or interest payments of Government Obligations, including depository receipts thereof. Investments in such proportionate interests must be limited to circumstances wherein (i) a bank or trust company acts as custodian and holds the underlying Government Obligations; (ii) the owner of the investment is the real party in interest and has the right to proceed directly and individually against the obligor of the underlying Government Obligations; and (iii) the underlying Government Obligations are held in a special account, segregated from the custodian’s general assets, and are not available to satisfy any claim of the custodian, or any person claiming through the custodian, or any person to whom the custodian may be obligated.

Government Certificates means evidences of ownership of proportionate interest in future interest or principal payments of Government Obligations, including depository receipts thereof; provided, that investments in such proportionate interest must be limited to circumstances wherein (a) a bank or trust company acts as custodian and holds the underlying Government Obligations, (b) the owner of the investment is the real party in interest and has the right to proceed directly and individually against the obligor of the underlying Government Obligations, and

Examples of Government Certificates in a sentence

The moneys and the maturing principal and interest income on such Government Obligations, noncallable Government Certificates or pre- refunded municipal obligations, if any, shall be sufficient and available to pay when due the principal of, whether at maturity or upon fixed redemption dates, and premium, if any, and interest on such Bonds.
Owner hereby approves the following investments: Treasury Bills issued by the United States Government; Certificates of Deposits in amounts of US$100,000 or less insured by the Federal Deposit Insurance Corporation or comparable insuring Organization and Money Market accounts by major financial institutions.
Payment of the Bonds or any Series of Bonds may be provided for by the deposit with the Trustee of moneys, noncallable Governmental Obligatio ns, noncallable Government Certificates or pre-refunded municipal obligations described in paragraph (c) of the definition of Permitted Investments in Section 101 hereof, or any combination thereof.
The obligation of the Authority in respect of such Bonds shall nevertheless continue but the Holders thereof shall thereafter be entitled to payment only from the moneys, Government Obligations, Government Certificates and pre-refunded municipal obligations deposited with the Trustee to provide for the payment of such Bonds.
Purchaser's obligation to close the transaction set forth hereunder is contingent upon (i) Seller obtaining the Required Amount of Tenant Certificates, as set forth above, or Seller delivering Seller Tenant Certificates necessary to achieve the Required Amount, as set forth above, and (ii) the Tenant Certificates, including the Government Certificates, not disclosing any Qualification (as hereinafter defined) (the "Tenant Certificate Condition").

More Definitions of Government Certificates

Government Certificates means certificates or other instruments representing proportionate ownership of Government Obligations, which Government Obligations are held by a bank or trust company organized under the laws of the United States of America or any of its states or territories in the capacity of custodian of such certificates or instruments.

Government Certificates means certificates representing an ownership interest in United States Treasury bond principal at maturity or interest coupons for accrued periods, which bonds or coupons are held in the capacity of custodian by a bank or trust company that is organized

Government Certificates means certificates representing ownership of either United States Treasury bond principal at maturity or coupons for accrued periods of interest, which bonds or coupons are held by a bank or trust company, organized and existing under the laws of the United States of America or any of its states, in the capacity of custodian independent of the seller of such certificates.

Government Certificates means (in the case of governmental obligations) evidences of ownership of proportionate interest in future interest or principal payments of Government Obligations, including depository receipts thereof. Investments in such proportionate interest must be limited to circumstances wherein (i) a bank or trust company acts as custodian and holds the underlying Government Obligations; (ii) the owner of the investment is the real party in interest and has the right to proceed directly and individually against the obligor of the underlying Government Obligations; and (iii) the underlying Government Obligations are held in a special account, segregated from the custodian's general assets, and are not available to satisfy any claim of the custodian, any person claiming through the custodian, or any person to whom the custodian may be obligated. "Government Certificates" shall also mean any other type of security or obligation that the Rating Agencies then maintaining ratings on any Bonds to be defeased have determined are permitted defeasance securities and qualify the Bonds to be defeased thereby for a rating in the highest category, or are otherwise acceptable to, each of the Rating Agencies.

Government Certificates means certificates representing ownership of United States Treasury bond principal at maturity or coupons for accrual periods, which bonds or coupons are held by a custodian that is independent of the seller of such certificates.