Mandatory Sinking Fund Installments definition

Mandatory Sinking Fund Installments means the amounts required in or pursuant to this Ordinance to be deposited in the Bond Retirement Fund for purposes of retiring, on a Mandatory Redemption Date, principal of Term Bonds which, according to their stated maturities, are due and payable if not called for prior redemption on a subsequent date.
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Mandatory Sinking Fund Installments means the amounts required in or pursuant to this Ordinance to be deposited in the Bond Retirement Fund for purposes of retiring, on a Mandatory Redemption Date, principal of the Bonds which, according to their stated maturities, are due and payable.
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Examples of Mandatory Sinking Fund Installments in a sentence

  • Any excess of that amount over the then current Mandatory Sinking Fund Installment shall be credited against subsequent Mandatory Sinking Fund Installments (and corresponding mandatory redemption obligations) in the order directed by the Treasurer.

  • A credit against the then current Mandatory Sinking Fund Installment (and corresponding mandatory redemption obligation) also shall be received by the City for any Bonds which are Term Bonds, which prior thereto have been redeemed (other than through the operation of the Mandatory Sinking Fund Installments) or purchased for cancellation and cancelled by the Registrar, to the extent not applied theretofore as a credit against any mandatory redemption obligation.

  • If optional redemption at a price exceeding 100% of the principal amount to be redeemed is to take place as of any applicable Mandatory Redemption Date, the Bonds, or portions thereof, to be redeemed optionally shall be selected by lot prior to the selection by lot of the Bonds to be redeemed on the same date by application of the Mandatory Sinking Fund Installments of paragraph (a).

  • The Bonds which are Term Bonds are subject to mandatory redemption, through the application of Mandatory Sinking Fund Installments, as set forth in the Certificate of Award, on each Mandatory Redemption Date at one hundred percent (100%) of the principal amount thereof plus accrued interest to such date, in the years and principal amounts set forth in the Principal Retirement Schedule.

  • Possibility of Mandatory Sinking Fund Installments Bidders may elect to structure the issue to include term bonds (the “Term Bond Option”), which term bonds, if selected by the Bidder, will be subject to mandatory redemption prior to maturity, in the years and amounts shown above as serial maturities, upon payment of one hundred percent (100%) of the principal amount of the Bonds to be redeemed, together with accrued interest to the date fixed for such mandatory redemption.

  • The portion of any such Mandatory Sinking Fund Installments remaining after the deduction of any such amounts credited toward the same (or the original amount of any such Mandatory Sinking Fund Installment if no such amounts shall have been credited toward the same) shall constitute the unsatisfied balance of such Mandatory Sinking Fund Installment for the purpose of the calculation of Mandatory Sinking Fund Installments due on any future date.

  • Upon any purchase of Term Bonds, an amount equal to the aggregate principal amount of Term Bonds so purchased shall be credited towards a part or all of any one or more Mandatory Sinking Fund Installments for such Term Bonds in the same manner as if redeemed pursuant to Sections 4.02, 4.03 or 4.04 hereof, as applicable, and all Term Bonds so purchased shall be delivered to the Trustee for cancellation.

  • Upon any purchase of Term Bonds, an amount equal to the aggregate principal amount of Term Bonds so purchased shall be credited towards a part or all of any one or more Mandatory Sinking Fund Installments for such Term Bonds in the same manner as if redeemedpursuant to Sections 4.02, 4.03 or 4.04 hereof, as applicable, and all Term Bonds so purchased shall be delivered to the Trustee for cancellation.

  • The portion of any such Mandatory Sinking Fund Installment remaining after the deduction of any such amounts credited towards the same (or the original amount of any such Mandatory Sinking Fund Installment if no such amounts shall have been credited toward the same) shall constitute the unsatisfied balance of such Mandatory Sinking Fund Installment for the purpose of calculation of Mandatory Sinking Fund Installments due on a future date.

  • Upon any redemption or purchase of Bonds of any Series and maturity for which Mandatory Sinking Fund Installments have been established, there shall be credited toward each such Mandatory Sinking Fund Installment thereafter to become due an amount bearing the same ratio to such Mandatory Sinking Fund Installment as the total principal amount of such Bonds so purchased or redeemed bears to the total amount of all such Mandatory Sinking Fund Installments to be credited.

Related to Mandatory Sinking Fund Installments

  • mandatory sinking fund payment has the meaning specified in Section 12.01.

  • Interest and Sinking Fund means the interest and sinking fund established by Section 8.01(a).

  • Sinking Fund Installment means, as of any particular date of calculation, the amount required, as of such date of calculation, to be paid by the Authority on a future date for the retirement of Outstanding Bonds which are stated to mature subsequent to such future date, but does not include any amount payable by the Authority by reason only of the maturity of a Bond.

  • optional sinking fund payment has the meaning specified in Section 12.01.

  • Sinking Fund Account means the sinking fund account established and held by the Treasurer of Charleston County designed to provide for the payment of the principal of, premium, if any, and interest on the Bonds, as the same respectively fall due.

  • Sinking Fund Payment means, with respect to a particular Group of 2024 Series A Bonds, as of any particular date of calculation, the amount required to be paid at all events by the Corporation on a single future date for the retirement of Outstanding 2024 Series A Bonds of such Group which mature after said future date, but does not include any amount payable by the Corporation by reason of the maturity of a 2024 Series A Bond of such Group or by call for redemption at the election of the Corporation.

  • Sinking Fund means each Sinking Fund Subaccount under the Indenture. To the extent necessary for compliance with the Authority’s tax covenants and other provisions of the Indenture and the Act, the Authorized Officers of the Authority may subdivide each such subaccount in respect of separate categories or issues of Sinking Fund Bonds.

  • Sinking Fund Provisions [No sinking fund provisions] [The Designated Securities are entitled to the benefit of a sinking fund to retire $ principal amount of Designated Securities on in each of the years through at 100% of their principal amount plus accrued interest] [, together with [cumulative] [non-cumulative] redemptions at the option of the Company to retire an additional $ principal amount of Designated Securities in the years through at 100% of their principal amount plus accrued interest.] [If Designated Securities are Extendable Debt Securities, insert-- Extendable Provisions: The Designated Securities are repayable on , at the option of the holder, at their principal amount with accrued interest. The initial annual interest rate will be %, and thereafter the annual interest rate will be adjusted on , , and to a rate not less than % of the effective annual interest rate on obligations with year maturities as of the [interest date 15 days prior to maturity date] prior to such [insert maturity date].] [If Designated Securities are Floating Rate Debt Securities, insert-- Floating Rate Provisions: The initial annual interest rate will be % through [and thereafter will be adjusted [monthly] [on each , , and ] [to an annual rate of % above the average rate for -year [-month] [securities] [certificates of deposit] by and [insert names of banks].] [and the annual interest rate [thereafter] [from through ] will be the interest yield equivalent of the weekly average per annum market discount rate for -month Treasury bills plus % of the Interest Differential (the excess, if any, of (i) the then-current weekly average per annum secondary market yield for -month certificates of deposit over (ii) the then-current interest yield equivalent of the weekly average per annum market discount rate for -month Treasury bills); [from and thereafter the rate will be the then-current interest yield equivalent plus % of the Interest Differential].] 23

  • AHYDO Payment means any mandatory prepayment or redemption pursuant to the terms of any Indebtedness that is intended or designed to cause such Indebtedness not to be treated as an “applicable high yield discount obligation” within the meaning of Section 163(i) of the Code.

  • Optional Prepayment Price shall have the meaning set forth in Section 14.02(a).

  • Redemption Price or Repurchase Price means the amount to be paid to the relevant Holder upon redemption of that Unit, such amount to be determined pursuant to this document.

  • Redemption Proceeds means any proceeds in any applicable currency from a redemption in respect of the Charged Assets in accordance with the terms and conditions of such Charged Assets.

  • Fund means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business.

  • Maturity Redemption Payment means an amount per Deposit to which you are entitled on the Maturity Date based on the performance of the Reference Portfolio which is equal to your Principal Amount x (1 + Variable Return).

  • Accelerated Principal Amount for a Distribution Date will equal the lesser of

  • Scheduled Principal Payment means the scheduled payment of principal due on the Mortgage Loan on a Monthly Payment Date.

  • Optional means a requirement not considered essential, but for which preference may be given.

  • PAGA Payment means the penalties pursuant to PAGA that the Parties have agreed is a

  • Scheduled Principal Payments means, with respect to any Series or any Class of any Series of Notes, any payments scheduled to be made pursuant to the applicable Series Supplement that reduce the amount of principal Outstanding with respect to such Series or Class on a periodic basis that are identified as “Scheduled Principal Payments” in the applicable Series Supplement.

  • Optional Redemption Premium means, with respect to any Series, the premium (expressed as a percentage of the Liquidation Preference of the shares of such Series) payable by the Fund upon the redemption of MuniFund Term Preferred Shares of such Series at the option of the Fund, as set forth in the Appendix for such Series.

  • Repayment Price means, when used with respect to any Security to be repaid at the option of the Holder, the price at which it is to be repaid by or pursuant to this Indenture.

  • Principal Prepayment Amount For any Distribution Date and for any Loan Group, the sum with respect to the Mortgage Loans in such Loan Group of (i) Curtailments received during the Prior Period from such Mortgage Loans and (ii) Payoffs received during the Payoff Period from such Mortgage Loans.

  • Redemption Amount means, as appropriate, the Final Redemption Amount, the Early Redemption Amount (Tax), the Optional Redemption Amount (Call), the Optional Redemption Amount (Put), the Early Termination Amount or such other amount in the nature of a redemption amount as may be specified in, or determined in accordance with the provisions of, the relevant Final Terms;

  • Unscheduled Principal Amount The sum for each outstanding Mortgage Loan (including each defaulted Mortgage Loan, other than a Liquidated Loan, with respect to which the related Mortgaged Property has been acquired by the Trust Estate) of the product of (A) the Non-PO Fraction for such Mortgage Loan and (B) the sum of the amounts described in clauses y(ii) and y(iii) of the definition of Class A Non-PO Optimal Principal Amount, but without such amounts being multiplied by the Class A Prepayment Percentage.

  • Overdue Scheduled Payment means any Scheduled Payment which is not in fact received by the Subordination Agent within five days after the Scheduled Payment Date relating thereto.

  • Accelerated Maturity Date means if the Company elects to accelerate the Maturity Date in accordance with Section 2.2(c), the date selected by the Company which is prior to the Scheduled Maturity Date, but is after March 31, 2002.