Mandatory Standby Tender definition

Mandatory Standby Tender means the mandatory tender of the Bonds pursuant to Section 405(e) upon receipt by the Trustee of written notice from the Liquidity Facility Provider that an event with respect to the Liquidity Facility has occurred which requires or gives the Liquidity Facility Provider the option to terminate such Liquidity Facility upon notice. Mandatory Standby Tender shall not include circumstances where the obligations of a Liquidity Facility Provider to purchase securities without notice under a Liquidity Facility immediately and automatically suspend or terminate, in which case there will be no mandatory tender.
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Mandatory Standby Tender means the mandatory tender of the Series 2014A Certificates pursuant to Section 307(c) of this Series 2014A Supplemental Trust Agreement upon receipt by the Trustee of written notice from the Liquidity Provider that an event with respect to the Liquidity Facility has occurred which requires or gives the Liquidity Provider the option to terminate such Liquidity Facility upon notice and requires that all Outstanding Series 2014A Certificates be tendered for purchase. Mandatory Standby Tender shall not include Immediate Termination Events, in which case there will be no mandatory tender.
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Mandatory Standby Tender means the mandatory tender of Series 2007 Bonds of a Series pursuant to Section 28.16(E) hereof upon receipt by the Trustee of written notice from the Liquidity Facility Provider that an event with respect to the Liquidity Facility has occurred which requires or gives the Liquidity Facility Provider the option to terminate the Liquidity Facility upon notice and requires that all Outstanding Series 2007 Bonds of a Series secured by such Liquidity Facility be tendered for purchase. Mandatory Standby Tender shall not include circumstances where the Liquidity Facility Provider may suspend or terminate its obligations to purchase securities without notice, in which case there will be no mandatory tender.
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Examples of Mandatory Standby Tender in a sentence

  • Upon a mandatory tender (other than a Mandatory Standby Tender) or notice of tender for purchase of Series 2007 Bonds of a Series, the Remarketing Agent shall offer for sale and use its best efforts to sell such Series 2007 Bonds of such Series on the same date designated for purchase thereof at a price equal to the Purchase Price therefor in accordance with Section 28.16 hereof and, if not remarketed on such date, thereafter until sold.

  • If, as a result of any such Mandatory Standby Tender, expiration, termination with notice, or replacement of such a Liquidity Facility, any Series 2014A Certificate is no longer subject to purchase pursuant to a Liquidity Facility, the Tender Agent (upon receipt from the holder thereof in exchange for payment of the Tender Price thereof) shall present such Series 2014A Certificate to the Trustee for notation of such fact thereon.

  • In connection with a Mandatory Standby Tender resulting in a mandatory purchase of Bonds as provided in Section 4.5(e)hereof, the Paying Agent/Registrar shall give the notice of mandatory tender for purchase of such Bonds as provided in Sections 4.5(g) and 4.9 hereof.

  • If, as a result of any such Mandatory Standby Tender, substitution, expiration or termination of such a Liquidity Facility, any Series 2007 Bond of a Series is no longer subject to purchase pursuant to a Liquidity Facility, the Tender Agent shall present such Series 2007 Bond of such Series to the Trustee for notation of such fact thereon.

  • Series 2021A Refunding Bonds subject to a Mandatory Standby Tender shall not be remarketed unless such Series 2021A Refunding Bonds are converted to a Long-Term Interest Rate Period to their Maturity Date, unless an Alternate Liquidity Facility is in full force and effect or unless the Liquidity Facility Provider has reinstated the Liquidity Facility with respect to which such Mandatory Standby Tender was declared and such Liquidity Facility is in full force and effect.

  • Series 2014A Certificates subject to a Mandatory Standby Tender shall not be remarketed, unless such Series 2014A Certificates are in a Long-Term Rate Period or Certificate Interest Term Period to their Maturity Date, or an Alternate Liquidity Facility is in full force and effect.

  • If, as a result of any such Mandatory Standby Tender, expiration, termination with notice or replacement of such a Liquidity Facility, any Series 2021A Refunding Bonds is no longer subject to purchase pursuant to a Liquidity Facility, the Paying Agent/Registrar (upon receipt from the Bondholder or Owner thereof in exchange for payment of the Purchase Price thereof) shall present such Series 2021A Refunding Bonds to the Paying Agent/Registrar for notation of such fact thereon.

  • In connection with a Mandatory Standby Tender resulting in a mandatory purchase of Series 2007 Bonds of a Series as provided in Section 28.16(E) hereof, the Trustee shall give the notice of mandatory tender for purchase of such Series 2007 Bonds of a Series as provided in Section 28.16(G) or 27.20 hereof.

  • Multi-Modal Bonds subject to a Mandatory Standby Tender shall not be remarketed unless such Multi-Modal Bonds are converted to a Long-Term Interest Rate Period to their Maturity Date or to ARS, unless an Alternate Liquidity Facility is in full force and effect or unless the Liquidity Facility Provider has reinstated the Liquidity Facility with respect to which such Mandatory Standby Tender was declared and such Liquidity Facility is in full force and effect.

  • Any purchase of such Bonds pursuant to this subsection (e) shall occur: (1) on the fifth Business Day preceding any such expiration or termination of such Liquidity Facility without replacement by an Alternate Liquidity Facility or upon any termination thereof as a result of a Mandatory Standby Tender, and (2) on the date of the replacement of a Liquidity Facility, in any case where an Alternate Liquidity Facility has been delivered to the Tender Agent pursuant to Section 4.7(a) hereof.

Related to Mandatory Standby Tender

  • Mandatory Tender with respect to a Mandatory Tender Event, means the mandatory tender of all VRDP Shares by Holders for Remarketing, or, in the event (i) no Remarketing occurs on or before the Purchase Date or (ii) pursuant to an attempted Remarketing, VRDP Shares remain unsold and the Remarketing Agent does not purchase for its own account the unsold VRDP Shares tendered to the Tender and Paying Agent for Remarketing (provided, that the Remarketing Agent may seek to sell such VRDP Shares in a subsequent Remarketing prior to the Purchase Date), for purchase by the Liquidity Provider at the Purchase Price pursuant to Section 2 of Part II of the Articles Supplementary and the VRDP Shares Purchase Agreement.

  • Mandatory Tender Date means any date on which a Multi-Modal Bond is subject to mandatory tender in accordance with the Certificate.

  • Mandatory Tender Event means (a) each failure by the Fund to make a scheduled payment of dividends on a Dividend Payment Date; (b) the occurrence of a Liquidity Provider Ratings Event (which shall constitute a single Mandatory Tender Event upon the occurrence of such Liquidity Provider Ratings Event, whether or not continuing and whether or not such Liquidity Provider Ratings Event also results in a Mandatory Purchase Event; provided that, a subsequent Liquidity Provider Ratings Event, following restoration of the short-term debt ratings to the requisite level, shall constitute a new Mandatory Tender Event); (c) in the event of a failure by the Fund to pay the Liquidity Provider the applicable fee due in advance under the terms of the VRDP Fee Agreement by seven Business Days prior to the beginning of the month to which such payment relates if the Liquidity Provider (in its sole discretion) thereafter provides written notice to the Fund that such failure to pay such fee constitutes a Mandatory Tender Event; (d) the eighth day prior to the scheduled date of the occurrence of an Extraordinary Corporate Event; (e) the Fund shall have obtained and delivered to the Tender and Paying Agent an Alternate VRDP Purchase Agreement by the fifteenth day prior to the Scheduled Termination Date, Liquidity Provider Ratings Event Termination Date or Related Party Termination Date, as the case may be, of the VRDP Purchase Agreement being replaced; (f) the Fund shall have provided a Notice of Proposed Special Rate Period in accordance with this Statement; or (g) in the event of a breach by the Fund of its Effective Leverage Ratio covenant with the Liquidity Provider in the VRDP Fee Agreement and the failure to cure such breach within 60 days from the date of such breach (which 60-day period would include the Effective Leverage Ratio Cure Period), if the Liquidity Provider (in its sole discretion) thereafter provides written notice to the Fund that the failure to timely cure such breach constitutes a Mandatory Tender Event (subject to the Fund curing such breach prior to the delivery date of such notice from the Liquidity Provider).

  • Mandatory Tender Notice means, in connection with the Mandatory Tender of VRDP Shares, a notice, substantially in the form attached to the VRDP Shares Remarketing Agreement as Annex II, delivered by the Fund or the Tender and Paying Agent on behalf of the Fund to the Holders and the Liquidity Provider in accordance with this Agreement and specifying a Mandatory Tender Event and Purchase Date.

  • Unapplied Downgrade Advance means any Downgrade Advance other than an Applied Downgrade Advance.

  • Mandatory Settlement Date means the earliest of:

  • Latest Term Loan Maturity Date means, at any date of determination, the latest maturity or expiration date applicable to any Term Loan hereunder at such time, including the latest maturity or expiration date of any New Term Loan or any Extended Term Loan, in each case as extended in accordance with this Agreement from time to time.

  • Applied Downgrade Advance has the meaning assigned to such term in Section 2.06(a).

  • Downgrade Advance means an Advance made pursuant to Section 2.02(c).

  • Non-PO Principal Amount As to any Distribution Date and Loan Group, the sum of (i) the sum of the applicable Non-PO Percentage of (a) the principal portion of each Monthly Payment due on each Mortgage Loan in such Loan Group on the related Due Date, (b) the Stated Principal Balance, as of the date of repurchase, of each Mortgage Loan in such Loan Group that was repurchased by the Depositor pursuant to this Agreement as of such Distribution Date, (c) any Substitution Adjustment Amount in connection with a Defective Mortgage Loan in such Loan Group received with respect to such Distribution Date, (d) any Liquidation Proceeds allocable to recoveries of principal of Mortgage Loans in such Loan Group that are not yet Liquidated Mortgage Loans received during the calendar month preceding the month of such Distribution Date, (e) with respect to each Mortgage Loan in such Loan Group that became a Liquidated Mortgage Loan during the calendar month preceding the month of such Distribution Date, the amount of Liquidation Proceeds (excluding Excess Proceeds) allocable to principal received with respect to such Mortgage Loan during the calendar month preceding the month of such Distribution Date and (f) all Principal Prepayments on the Mortgage Loans in such Loan Group received during the calendar month preceding the month of such Distribution Date; and (ii) the Non-PO Recovery for such Distribution Date.

  • Unapplied Non-Extension Advance means any Non-Extension Advance other than an Applied Non-Extension Advance.

  • Legal Maturity Date means July 15, 2024.

  • Optional Reset Date has the meaning specified in Section 307(b).

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Mandatory Prepayment Event means any of the following:

  • Special Mandatory Redemption Price has the meaning set forth in Section 4.03(a).

  • Stated Maturity Date has the meaning specified in Section 2.1 hereof.

  • Required Daily Deposit Target Principal Amount means, for any day in a Due Period, (i) if such Due Period is in [the Accumulation Period for the Class C( - ) Notes, the Accumulation Amount], (ii) if such day is on or after the occurrence and during the continuance of a Class C( - ) Adverse Event, the Nominal Liquidation Amount of the Class C( - ) Notes, and (iii) in all other circumstances, zero.

  • Required Daily Deposit Target Finance Charge Amount means, for any day in a Due Period, an amount equal to the Class A Tranche Interest Allocation for the related Distribution Date; provided, however, that for purposes of determining the Required Daily Deposit Target Finance Charge Amount on any day on which the Class A Tranche Interest Allocation cannot be determined because the LIBOR Determination Date for the applicable Interest Accrual Period has not yet occurred, the Required Daily Deposit Target Finance Charge Amount shall be the Class A Tranche Interest Allocation determined based on a pro forma calculation made on the assumption that LIBOR will be LIBOR for the applicable period determined on the first day of such calendar month, multiplied by 1.25.

  • Initial Notional Amount With respect to any Class or Subclass of Interest Only Certificates, the amount initially used as the principal basis for the calculation of any interest payment amount, as more specifically defined in the Series Supplement.

  • Early Maturity Date means the date notified to the Investor as such in the Early Maturity Notice;

  • Special Mandatory Redemption has the meaning provided in Section 3.02(a).

  • LC Reserve the aggregate of all LC Obligations, other than (a) those that have been Cash Collateralized; and (b) if no Default or Event of Default exists, those constituting charges owing to the Issuing Bank.

  • Mandatory or “(M)” shall mean the Vendor must comply with the requirement, and the Response will be evaluated on a pass/fail basis.

  • Legal Final Maturity Date means the first Settlement Date on or after the date that is two years after the Termination Date.

  • Initial Term Loan Maturity Date means September 24, 2014 or, if such date is not a Business Day, the first Business Day thereafter.