Preference Amounts definition
Preference Amounts means any amount guaranteed pursuant to the Policy which is voided (a "Preference Event") under any applicable bankruptcy, insolvency, receivership or similar law in an Insolvency Proceeding, and, as a result of such a Preference Event, the Indenture Trustee or any Noteholder is required to return such voided payment, or any portion of such voided payment made or to be made in respect of the Notes (an "Avoided Payment").
Preference Amounts as defined in the Policy. ------------------
Preference Amounts. Any payment of principal or interest previously distributed by or on behalf of the Trust to a Holder of the Class A-3A Certificates, which would have been covered under the Policy as a Deficiency Amount if there had been a shortfall in funds available to make such payment on the required Distribution Date for such payment, which has been deemed a preferential transfer and has been recovered from such Holder pursuant to the United States Bankruptcy Code in accordance with an Order.
Examples of Preference Amounts in a sentence
Any amounts received by the Indenture Trustee under the Policy that represent Preference Amounts shall be paid, in accordance with the Policy, to the applicable Noteholder(s).
Any and all Insured Amounts and Preference Amounts disbursed by the Indenture Trustee from claims made under the Policy shall not be considered payment by the Issuer, and shall not discharge the obligations of the Issuer with respect thereto.
Any Preference Amounts paid by the Insurer shall be reimbursed to the Insurer as provided in Section 4.03 and 4.04(b).
The proportionate contribution from Snowy Hydro should also be determined as part of the AER’s decision.
Insured Payments due hereunder, unless otherwise stated herein, will be disbursed by the Fiscal Agent to the Trustee on behalf of the Owners by wire transfer of immediately available funds in the amount of the Insured Payment less, in respect of Insured Payments related to Preference Amounts, any amount held by the Trustee for the payment of such Insured Payment and legally available therefor.
More Definitions of Preference Amounts
Preference Amounts. As defined in the Certificate Insurance Policy.
Preference Amounts means amounts owing because of a nonappealable order of a court of competent jurisdiction that any payments to a Holder of principal, Redemption Price or Purchase Price of, or interest on any Bond constituted a preferential transfer under the United States Bankruptcy Code (or any similar or successor law) due to an Act of Bankruptcy.
Preference Amounts means collectively the Series A Preference Amount, the Series B Preference Amount and the Series C Preference Amount.
Preference Amounts under the Policy and the distribution of the same to Certificateholders until the Policy terminates by its own terms. Notice of any termination, specifying the Distribution Date upon which the Certificateholders may surrender their Certificates to the Trustee for payment of the final distribution and cancellation, shall be given promptly by the Trustee to Certificateholders immediately following the Trustee's receipt of notice thereof from the Class IC Certificateholder but not later than the Distribution Date that such payment shall be made stating (A) the final payment of the Certificates shall be made upon presentation and surrender of the Certificates at the office of the Trustee therein designated, (B) the amount of any such final payment, and (C) if applicable, that the Record Date otherwise applicable to such Distribution Date is not applicable, payments being made only upon presentation and surrender of the Certificates at the office of the Trustee therein specified. The Trustee shall give such notice to the Certificate Registrar (if other than the Trustee) at the time such notice is given to Certificateholders. Upon presentation and surrender of the Certificates, the Trustee shall cause to be distributed to Certificateholders amounts distributable on such Distribution Date pursuant to Section 9.04 and, in the event of a termination pursuant to clause (i) or (ii) of the preceding paragraph, the provisions of Section 9 of Annex A hereto shall govern the remaining distributions to Certificateholders. In the event that all of the Certificateholders shall not surrender their Certificates for cancellation within six months after the date specified in the above-mentioned written notice, the Trustee shall give a second written notice to the remaining Certificateholders to surrender their Certificates for cancellation and receive the final distribution with respect thereto. If within one year after the second notice all the Certificates shall not have been surrendered for cancellation, the Trustee may take appropriate steps, or may appoint an agent to take appropriate steps, to contact the remaining Certificateholders concerning surrender of their Certificates, and the cost thereof shall be paid out of the funds and other assets that shall remain subject to this Agreement. Any funds remaining in the Trust after exhaustion of such remedies shall, upon notice to the Trustee, be distributed by the Trustee to the United Way of Central Indiana or its successor,...
Preference Amounts. Premium Percentage," "Prepayment Interest Shortfall," "Prepayment Shift Percentage," "Priority Amount," "Priority Percentage," "Realized Loss," "Reimbursement Amount," "Relief Act," "Relief Act Reductions,' "Required Distributions," "Scheduled Principal Distribution Amount," "Senior Percentage," "Senior Prepayment Percentage," "Senior Principal Distribution Amount," "Senior Step Down Conditions," Special Hazard Coverage Termination Date," "Special Hazard Loss," "Special Hazard Loss Coverage Amount," "Subsequent Recoveries" and "Voting Rights" in Article I, and (b) Section 2.03, Section 2.04, Section 3.08, Xxxxxxx 0.00, Xxxxxxxx 0.00(x), (x), (x), (x) and (g), Section 4.04, Section 4.05, the second sentence of the second paragraph of Section 5.01, Section 7.01, Section 7.03, Section 9.01, Section 9.02, Section 10.01, Section 10.04, Section 10.09 and Section 10.14. Notwithstanding any contrary provision of this Agreement, the Trustee shall not consent to any amendment to this Agreement unless (i) it shall have first received an Opinion of Counsel, which opinion shall not be an expense of the Trustee or the Trust Fund, to the effect that such amendment will not cause the imposition of any tax on any REMIC created under this Agreement, the Certificateholders or the Class A-6 Insurer or cause any REMIC created hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding and (ii) because the Trust Fund is required to be a Qualifying Special Purpose Entity (as that term is defined in Statement of Financial Accounting Standards No. 140 ("SFAS 140"), in order for the Seller to continue to account for the transfer of the Mortgage Loans under this Agreement as a sale under SFAS 140, prior to the parties hereto entering into such an amendment, the Trustee shall receive an Officer's Certificate, which shall not be an expense of the Trustee or the Trust Fund, to the effect that such amendment would not "significantly change" (within the meaning of SFAS 140) the permitted activities of the Trust Fund so as to cause the Trust Fund to fail to qualify as a Qualifying Special Purpose Entity. Promptly after the execution of any amendment to this Agreement requiring the consent of Certificateholders, the Trustee shall furnish written notification of the substance or a copy of such amendment to each Certificateholder, the Class A-6 Insurer and each Rating Agency. It shall not be necessary for the consent of Certificateholders under this Section 10.0...
Preference Amounts. As defined in the Class 3-A-2 Policy.
Preference Amounts. With respect to any Series of Notes, has the meaning given to such term in the related Policy.