Municipal debt obligations definition

Municipal debt obligations. The Moody's Discount Factor applied to municipal debt obligations shall be the percentage determined by reference to the rating on such asset and the shortest Moody's Exposure Period set forth opposite such rating that is the same length as or is longer than the Moody's Exposure Period, in accordance with the table set forth below: Exposure Period Aaa Aa A Baa Other (V)MIG-1/1/ SP-1+/2/ Unrated/3/ --------------- --- -- - --- ----- ----------- -------- ---------- 7 weeks 151% 159% 166% 173% 187% 136% 148% 225% 8 weeks or less but 154 161 168 176 190 137 149 231 greater than seven weeks 9 weeks or less but 158 163 170 177 192 138 150 240 greater than eight weeks ---------- /1 Municipal debt obligations not rated by Moody's but rated equivalent to XXX-0, (X)XXX-0, xx X-0, by S&P and Fitch Ratings that have a maturity less than or equal to 49 days. /2/ Municipal debt obligations not rated by Moody's but rated equivalent to MIG-1, (V)MIG-1, or P-1 by S&P and Fitch Ratings that have a maturity greater than 49 days. /3/ Unless conclusions regarding liquidity risk as well as estimates of both the probability and severity of default for the corporation's or municipal issuer's assets can be derived from other sources as well as combined with a number of sources as presented by the Trust to Moody's securities rated below B by Moody's and unrated securities, which are securities rated by neither Moody's, S&P nor Fitch Ratings, are limited to 10% of Moody's Eligible Assets. If a municipal debt security is unrated by Moody's, S&P or Fitch, the Trust will use the percentage set forth under "Other" in the Municipal Debt Table. Ratings assigned by S&P or Fitch are generally accepted by Moody's at face value (e.g., treating a rating of AAA by S&P or Fitch Ratings as Aaa for purposes of the table above and a rating of AA by S&P or Fitch Ratings as Aa for purposes of the table above. However, adjustments to face value may be made to particular categories of credits for which the ratings by S&P and/or Fitch Rating do not seem to approximate a Xxxxx'x rating equivalent. Split-rated securities assigned by S&P and Fitch Ratings (i.e., these Rating Agencies assign different rating categories to the security) will be accepted at the lower of the two ratings.
Sample 1
Municipal debt obligations. The Xxxxx'x Discount Factor applied to municipal debt obligations shall be the percentage determined by reference to the rating on such asset and the shortest Exposure Period set forth opposite such rating that is the same length as or is longer than the Xxxxx'x Exposure Period, in accordance with the table set forth below (provided that, except as provided in the following table, any municipal obligation: Exposure Period Aaa Aa A Baa Other (V)MIG-1/1/ SP-1+/2/ Unrated/3/ --------------- --- --- --- --- ----- ---------- ------- --------- 7 weeks......................................... 151% 159% 166% 173% 187% 136% 148% 225% 8 weeks or less but greater than seven weeks.... 154 161 168 176 190 137 149 231 9 weeks or less but greater than eight weeks.... 158 163 170 177 192 138 150 240 -------- /1/ Municipal debt obligations not rated by Xxxxx'x but rated equivalent to XXX-0, (X)XXX-0, xx X-0, by S&P and Fitch Ratings that have a maturity less than or equal to 49 days. /2/ Municipal debt obligations not rated by Xxxxx'x but rated equivalent to MIG-1, (V)MIG-1, or P-1 by S&P and Fitch Ratings that have a maturity greater than 49 days. /3/ Unless conclusions regarding liquidity risk as well as estimates of both the probability and severity of default for the corporation's or municipal issuer's assets can be derived from other sources as well as combined with a number of sources as presented by the Trust to Xxxxx'x securities rated below B by Xxxxx'x and unrated securities, which are securities rated by neither Xxxxx'x, S&P nor Fitch Ratings, are limited to 10% of Xxxxx'x Eligible Assets. If a municipal debt security is unrated by Xxxxx'x, S&P or Fitch, the Trust will use the percentage set forth under "Other" in the Municipal Debt Table. Ratings assigned by S&P or Fitch are generally accepted by Xxxxx'x at face value (e.g., treating a rating of AAA by S&P or Fitch Ratings as Aaa for purposes of the table above and a rating of AA by S&P or Fitch Ratings as Aa for purposes of the table above. However, adjustments to face value may be made to particular categories of credits for which the ratings by S&P and/or Fitch Rating do not seem to approximate a Xxxxx'x rating equivalent. Split-rated securities assigned by S&P and Fitch Ratings (i.e., these Rating Agencies assign different rating categories to the security) will be accepted at the lower of the two ratings.
Sample 1
Municipal debt obligations. The Xxxxx'x Discount Factor applied to municipal debt obligations shall be the percentage determined by reference to the rating on such asset and the shortest Exposure Period set forth opposite such rating that is the same length as or is longer than the Xxxxx'x Exposure Period, in accordance with the table set forth below (provided that, except as provided in the following table, any municipal obligation (excluding any short-term municipal obligation) not rated by Xxxxx'x but rated by S&P shall be deemed to have a Xxxxx'x rating which is one full rating category lower than its S&P rating): Exposure Period Aaa/1/ Aa/1/ A/1/ Baa/1/ Other/2/ (V)MIG-1/3/ SP-1+/4/ Unrated/5/ --------------- --- -- --- --- ----- -------- ----- ------- 7 weeks 151% 159% 166% 173% 187% 136% 148% 225% 8 weeks or less but 154 161 168 176 190 137 149 231 greater than seven weeks 9 weeks or less but 158 163 170 177 192 138 150 240 greater than eight weeks ------------ /1/ Xxxxx'x rating. /2/ Municipal debt obligations not rated by Xxxxx'x but rated BBB by S&P. /3/ Municipal debt obligations rated MIG-1 or (V)MIG-1, which do not mature or have a demand feature at par exercisable in 30 days and which do not have a long-term rating. /4/ Municipal debt obligations not rated by Xxxxx'x but rated SP-1+ by S&P, which do not mature or have a demand feature at par exercisable in 30 days and which do not have a long-term rating. /5/ Municipal debt obligations rated less than Baa3 or not rated by Xxxxx'x and less than BBB or not rated by S&P, not to exceed 10% of Xxxxx'x Eligible Assets.
Sample 1

More Definitions of Municipal debt obligations

Municipal debt obligations. The Moody’s Discount Factor applied to municipal debt obligations shall be the percentage determined by reference to the rating on such asset and the shortest Exposure Period set forth opposite such rating that is the same length as or is longer than the Moody’s Exposure Period, in accordance with the table set forth below (provided that, except as provided in the following table, any municipal obligation:
Sample 1
Municipal debt obligations. The Xxxxx'x Discount Factor applied to municipal debt obligations shall be the percentage determined by reference to the rating on such asset and the shortest Exposure Period set forth opposite such rating that is the same length as or is longer than the Xxxxx'x Exposure Period, in accordance with the table set forth below: Exposure Period Aaa/1/ Aa/1/ A/1/ Baa/1/ Other/2/ (V)MIG-1/3/ SP-1+/4/ Unrated/5/ ------------------------ -------- -------- -------- -------- -------- ----------- -------- ---------- 7 weeks 151% 159% 166% 173% 187% 136% 148% 225% 8 weeks or less but 154 161 168 176 190 137 149 231 greater than seven weeks 9 weeks or less but 158 163 170 177 192 138 150 240 greater than eight weeks ---------- /1/ Xxxxx'x rating. /2/ Municipal debt obligations not rated by Xxxxx'x but rated BBB by S&P or Fitch. /3/ Municipal debt obligations rated MIG-1 or VMIG-1, which do not mature or have a demand feature at par exercisable in 30 days and which do not have a long-term rating. /4/ Municipal debt obligations not rated by Xxxxx'x but rated SP-1+ by S&P or Fitch, which do not mature or have a demand feature at par exercisable in 30 days and which do not have a long-term rating. /5/ Municipal debt obligations rated less than Baa3 or not rated by Xxxxx'x and rated less than BBB by S&P or Fitch or not rated by S&P or Fitch, shall not to exceed 10% of Xxxxx'x Eligible Assets for purposes of calculations related to the APS Basic Maintenance Amount. Unless conclusions regarding liquidity risk as well as estimates of both the probability and severity of default for applicable Trust assets can be derived from other sources as well as combined with a number of sources, unrated fixed-income convertible securities (which are securities that are not rated by any of Xxxxx'x, S&P or Fitch) are limited to 10% of Xxxxx'x Eligible Assets for the purposes of calculations related to the APS Basic Maintenance Amount. If a municipal debt obligation is not rated by any of Xxxxx'x, S&P or Fitch, the Trust will use the applicable percentage set forth under the column entitled "Unrated" in the table above. Ratings assigned by S&P or Fitch are generally accepted at face value. However, adjustments to face value may be made to particular categories of credits for which the S&P and/or Fitch rating does not seem to approximate a Xxxxx'x rating equivalent.
Sample 1
Municipal debt obligations. The Moody's Discount Factor applied tx xxxxxipal debt obligations shall be the percentage determined by reference to the rating on such asset and the shortest Exposure Period set forth opposite such rating that is the same length as or is longer than the Moody's Exposure Period, in accordance xxxx xhe table set forth below (provided that, except as provided in the following table, any municipal obligation (excluding any short-term municipal obligation) not rated by Moody's but rated by S&P shall be deemxx xx xave a Moody's rating which is one full xxxxxx category lower than its S&P rating): Exposure Period Aaa/1/ Aa/1/ A/1/ Baa/1/ Other/2/ (V)MIG-1/3/ SP-1+/4/ Unrated/5/ ------------------- ------ ----- ---- ------ -------- ----------- -------- ---------- 7 weeks................ 151% 159% 166% 173% 187% 136% 148% 225% 8 weeks or less but.... 154 161 168 176 190 137 149 231 greater than seven weeks 9 weeks or less but.... 158 163 170 177 192 138 150 240 greater than eight weeks ---------- /1/ Moody's rating. /2/ Municipal debt obligations not rated by Moody's but rated BBB by S&P. /3/ Munxxxxxx debt obligations rated MIG-1 or (V)MIG-1, which do not mature or have a demand feature at par exercisable in 30 days and which do not have a long-term rating. /4/ Municipal debt obligations not rated by Moody's but rated SP-1+ by S&P, wxxxx xx not mature or have a demand feature at par exercisable in 30 days and which do not have a long-term rating. /5/ Municipal debt obligations rated less than Baa3 or not rated by Moody's and less than BBB or not xxxxx xy S&P, not to exceed 10% of Moody's Eligible Assets.
Sample 1
Municipal debt obligations. The Moody's Discount Factor applied to municipal debt obligations shall be the percentage determined by reference to the rating on such $$/BREAK/$$END asset and the shortest Exposure Period set forth opposite such rating that is the same length as or is longer than the Moody's Exposure Period, in accordance with the table set forth below (provided that any municipal obligation (excluding any short-term municipal obligation) not rated by Moody's but rated by S & P shall be deemed to have a Xxxxx'x rating which is one full rating category lower than its S & P rating): Exposure Period Aaa/1/ Aa/1/ A/1/ Baa/1/ Other/2/ (V)MIG-1/3/ SP-1+/4/ Unrated/5/ --------------- ------ ----- ---- ------ -------- ----------- -------- ---------- 7 weeks 151% 159% 166% 173% 187% 136% 148% 225% 8 weeks or less but 154 161 168 176 190 137 149 231 greater than seven weeks 9 weeks or less but 158 163 170 177 192 138 150 240 greater than eight weeks ------------ /1/ Xxxxx'x rating. /2/ Municipal debt obligations not rated by Moody's but rated BBB by S & P. /3/ Municipal debt obligations rated MIG-1 or VMIG-1, which do not mature or have a demand feature at par exercisable in 30 days and which do not have a long-term rating.
Sample 1

Related to Municipal debt obligations

  • Debt Obligations means any debt obligations issued or guaranteed by the Government of Japan.

  • debt obligation means a public security, as defined by Government Code 1201.002, secured by and payable from ad valorem taxes. The term does not include public securities that are designated as self-supporting by the political subdivision issuing the securities. Gov’t Code 1251.051(1)

  • Second Priority Debt Obligations means the Initial Second Priority Debt Obligations and, with respect to any series, issue or class of Second Priority Debt, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Second Priority Debt, (b) all other amounts payable to the related Second Priority Debt Parties under the related Second Priority Debt Documents and (c) any renewals or extensions of the foregoing.

  • Additional Senior Debt Obligations means, with respect to any series, issue or class of Additional Senior Debt, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Additional Senior Debt, (b) all other amounts payable to the related Additional Senior Debt Parties under the related Additional Senior Debt Documents and (c) any renewals or extensions of the foregoing.

  • municipal debt instrument means any note, bond, debenture or other evidence of indebtedness issued by a municipality, including dematerialised or electronic evidence of indebtedness intended to be used in trade;

  • Secured Cash Management Obligations means Obligations under Secured Cash Management Agreements.

  • Loan Obligations means (a) the due and punctual payment by the Borrower of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans made to the Borrower under this Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and obligations to provide Cash Collateral and (iii) all other monetary obligations of the Borrower owed under or pursuant to this Agreement and each other Loan Document, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), and (b) the due and punctual payment of all obligations of each other Loan Party under or pursuant to each of the Loan Documents.

  • Money Market Obligations Trust Federated California Municipal Cash Trust Federated Connecticut Municipal Cash Trust Federated Florida Municipal Cash Trust Federated Georgia Municipal Cash Trust Federated Government Obligations Fund Federated Institutional Money Market Management Federated Institutional Prime Obligations Fund Federated Institutional Prime Value Obligations Fund Federated Institutional Tax-Free Cash Trust Federated Massachusetts Municipal Cash Trust Federated Institutional Prime 60 Day Fund Federated Michigan Municipal Cash Trust Federated Minnesota Municipal Cash Trust Federated Municipal Obligations Fund Federated New Jersey Municipal Cash Trust Federated New York Municipal Cash Trust Federated North Carolina Municipal Cash Trust Federated Ohio Municipal Cash Trust Federated Pennsylvania Municipal Cash Trust Federated Prime Cash Obligations Fund Federated Tax-Free Obligations Fund Federated Treasury Obligations Fund Federated Trust for U.S. Treasury Obligations Federated Virginia Municipal Cash Trust This Amendment to Financial Administration and Accounting Services Agreement (this “Amendment”) is dated as of October 14, 2015, by and among each of the investment companies listed on Exhibit A hereto (each, a “Trust”) and State Street Bank and Trust Company (“State Street” or “Administrator”).

  • Hedge Obligations means any and all obligations or liabilities, whether absolute or contingent, due or to become due, now existing or hereafter arising, of each Loan Party and its Subsidiaries arising under, owing pursuant to, or existing in respect of Hedge Agreements entered into with one or more of the Hedge Providers.

  • Loan Document Obligations means (a) the due and punctual payment by the Borrower of (i) the principal of and interest at the applicable rate or rates provided in the Credit Agreement (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under the Credit Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon and obligations to provide cash collateral, and (iii) all other monetary obligations of the Borrower under or pursuant to the Credit Agreement and each of the other Loan Documents, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), (b) the due and punctual payment and performance of all other obligations of the Borrower under or pursuant to each of the Loan Documents and (c) the due and punctual payment and performance of all the obligations of each other Loan Party under or pursuant to this Agreement and each of the other Loan Documents (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding).

  • Financial Instrument Obligations means obligations arising under:

  • Secured Longer-Term Indebtedness means, as at any date, Indebtedness for borrowed money (other than Indebtedness hereunder) of the Borrower (which may be Guaranteed by Subsidiary Guarantors) that (a) has no amortization (other than for amortization in an amount not greater than 1% of the aggregate initial principal amount of such Indebtedness per annum (or an amount in excess of 1% of the aggregate initial principal amount of such Indebtedness per annum on terms mutually agreeable to the Borrower and the Required Lenders)) or mandatory redemption, repurchase or prepayment prior to, and a final maturity date not earlier than, six months after the Maturity Date; (b) is incurred pursuant to documentation containing (i) financial covenants, covenants governing the borrowing base, if any, covenants regarding portfolio valuations, and events of default that are no more restrictive in any respect than those set forth in this Agreement (other than, if such Indebtedness is governed by a customary indenture or similar instrument, events of default that are customary in indentures or similar instruments and that have no analogous provisions in this Agreement or credit agreements generally) (provided that, upon the Borrower’s request, this Agreement will be deemed to be automatically amended (and, upon the request of the Administrative Agent or the Required Lenders, the Borrower and the Lenders shall enter into a document evidencing such amendment), mutatis mutandis, to make such covenants more restrictive in this Agreement as may be necessary to meet the requirements of this clause (b)(i)) and (ii) other terms (other than interest and any commitment or related fees) that are no more restrictive in any material respect than those set forth in this Agreement; and (c) ranks pari passu with the obligations under this Agreement and is not secured by any assets of any Person other than any assets of any Obligor pursuant to the Security Documents and the holders of which, or the agent, trustee or representative of such holders on behalf of and for the benefit of such holders, have agreed to be bound by the provisions of the Security Documents in a manner reasonably satisfactory to the Administrative Agent and the Collateral Agent. For the avoidance of doubt, (a) Secured Longer-Term Indebtedness shall also include any refinancing, refunding, renewal or extension of any Secured Longer-Term Indebtedness so long as such refinanced, refunded, renewed or extended Indebtedness continues to satisfy the requirements of this definition and (b) any payment on account of Secured Longer-Term Indebtedness shall be subject to Section 6.12.

  • Municipal Obligations means Municipal Bonds as described in the Offering Memorandum.

  • First Lien Indebtedness means Consolidated Total Indebtedness that is secured by a Lien on the Collateral, except by a Lien that is junior to the Liens on the Collateral securing the First Lien Obligations.

  • Subordinate Obligations means, collectively, the Subordinate Notes and any Other Subordinate Obligations.

  • Securitization Indebtedness means (i) Indebtedness of the Company or any of its Restricted Subsidiaries incurred pursuant to on-balance sheet Securitizations treated as financings and (ii) any Indebtedness consisting of advances made to the Company or any of its Restricted Subsidiaries based upon securities issued by a Securitization Entity pursuant to a Securitization and acquired or retained by the Company or any of its Restricted Subsidiaries.

  • Term Loan Obligations means the “Obligations” as defined in the Term Loan Credit Agreement.

  • DIP Obligations means “DIP Obligations” as defined in the DIP Order.

  • First Lien Notes means the 8.000% first lien secured notes due April 1, 2027, issued by Frontier pursuant to the First Lien Notes Indenture.

  • Second Lien Indebtedness means the Indebtedness of the Loan Parties owing to the Second Lien Agent and the Second Lien Lenders under the Second Lien Credit Agreement, which Indebtedness is on terms and conditions reasonably acceptable to the Collateral Agent.

  • Senior Priority Obligations as defined in the Base Intercreditor Agreement.

  • Secured Hedge Obligations means Obligations under Secured Hedge Agreements.

  • Credit Document Obligations shall have the meaning provided in the definition of "Obligations" in this Article IX.

  • Refinanced Indebtedness shall have the meaning provided in the definition of the term “Permitted Refinancing Indebtedness”.

  • Credit Agreement Obligations means the “Obligations” as defined in the Credit Agreement.

  • Investment Obligations means and include, except as otherwise provided in the Supplemental Indenture providing for the authorization of Bonds, any of the following securities, if and to the extent that such securities are legal investments for funds of the Issuer;