PERS Side Fund Obligations definition

PERS Side Fund Obligations means the obligation of the Borrower under the Retirement Law and the PERS Contract to make payments to PERS with respect to benefits accruing to retired public safety and certain other employees of the Borrower under the Safety Plan.
Sample 1Sample 2Sample 3
PERS Side Fund Obligations means the obligation of the Borrower under the Retirement Law and the PERS Contract to make payments to PERS with respect to benefits accruing to retired public safety and certain other employees of the Borrower under the Safety Police Plan and the Miscellaneous Plan.
Sample 1
PERS Side Fund Obligations means the obligation of the City under the Retirement Law and the PERS Contract to make payments to PERS with respect to benefits accruing to retired public safety employees and certain other employees of the City under the Public Safety Employees Plan and the Miscellaneous Employees Plan.
Sample 1

Examples of PERS Side Fund Obligations in a sentence

  • The City hereby authorizes the issuance of the Bonds in the aggregate principal amount of $[Bond Amount] under the Authorizing Resolution and the Bond Law for the purposes of providing funds to refinance the PERS Side Fund Obligations of the City as provided herein.

  • The Trustee shall apply the amount of $ , constituting the remainder of the proceeds of sale of the Bonds, to the satisfaction of the City’s obligations under the PERS Contract with respect to the Miscellaneous Plan PERS Side Fund Obligations, by effecting a wire transfer of such proceeds to PERS, in accordance with a Request of the City.

  • The Trustee shall apply the amount of $ to the satisfaction of the City’s obligations under the PERS Contract with respect to the Safety Police Plan PERS Side Fund Obligations, by effecting a wire transfer of such proceeds to PERS, in accordance with a Request of the City.

  • The Trustee shall apply the amount of $ to the satisfaction of the City’s obligations under the PERS Contract with respect to the Safety Fire Plan PERS Side Fund Obligations, by effecting a wire transfer of such proceeds to PERS, in accordance with a Request of the City.

  • The Bonds shall mature over a term not exceeding the amortization period which has been established by PERS for the PERS Side Fund Obligations.

  • For the purpose of refunding all or any portion of the PERS Side Fund Obligations, the City has determined to authorize the issuance of bonds or the incurrence of debt in order to achieve debt service savings, subject to satisfying the requirements of Section 4.14 of the Charter of the City.

  • The PERS Side Fund Obligations are debt obligations of the City imposed by law.

  • This interaction happens when a variable can only take different values if another variable also changes to achieve the output.

  • The Lender on behalf of the Borrower shall apply the amount of $ to the satisfaction of the Borrower’s obligations under the PERS Contract with respect to the Safety Police Tier 1 Plan PERS Side Fund Obligations, by effecting a wire transfer of such proceeds to PERS, in accordance with a direction from PERS and the Borrower.

  • Proceeds of the Bonds, except to the extent required to pay the costs of issuing and underwriting the Bonds, shall be deposited with the Trustee and applied to discharge the PERS Side Fund Obligations of the City in whole or in part.

Related to PERS Side Fund Obligations

  • Loan Combination Custodial Account means the “Loan Combination Custodial Account” or analogous account established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Excess Servicing Fees With respect to each Mortgage Loan (including an REO Mortgage Loan), that portion of the Servicing Fee that accrues at a per annum rate equal to the Excess Servicing Fee Rate.

  • Refunded Obligations means, collectively, the Refunded Notes, if any, and the Refunded Bonds, if any, refunded by each Series.

  • Non-Lead Securitization Subordinate Class Representative means the holders of the majority of the class of securities issued in a Non-Lead Securitization designated as the “controlling class” pursuant to the related Non-Lead Securitization Servicing Agreement or their duly appointed representative; provided that if 50% or more of the class of securities issued in any Non-Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned the rights to exercise the rights of the “Controlling Noteholder” is held by the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan Borrower, no person shall be entitled to exercise the rights of the related Non-Lead Securitization Subordinate Class Representative.

  • Lead Securitization Subordinate Class Representative means the “Controlling Class Representative” as defined in the Lead Securitization Servicing Agreement or such other analogous term used in the Lead Securitization Servicing Agreement.

  • Loan Group Any of Loan Group 1 or Loan Group 2, as applicable.

  • Undercollateralized Group As defined in Section 4.03.

  • Excess Servicing Fee For each calendar month, as to each Mortgage Loan, the portion of the related Excess Servicing Fee Rate applicable to such month (determined in the same manner as the applicable Mortgage Rate determined for such Mortgage Loan for such month) multiplied by the Scheduled Principal Balance of such Mortgage Loan immediately before the Due Date occurring in such month, but prorated for the number of days during the calendar month for such Mortgage Loan for which interest actually accrues on such Mortgage Loan and only from collections on such Mortgage Loan.

  • L/C Obligations means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Reimbursement Amounts As defined in Section 3.22.

  • Related Loan Group For Group 1, Loan Group 1; for Group 2, Loan Group 2; for Group 3, Loan Group 3; and for Group 4, Loan Group 4.

  • Loan Group 2 All Mortgage Loans identified as Loan Group 2 Mortgage Loans on the Mortgage Loan Schedule.

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

  • Junior Subordinate Certificates The Class B-4, Class B-5 and Class B-6 Certificates.

  • Credit Improved Obligation means any Collateral Debt Obligation which, in the Investment Manager’s judgment, has significantly improved in credit quality and in respect of which one of the following is satisfied:

  • Loan Group III The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group III.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.