Proceeds of Released Property definition

Proceeds of Released Property means the aggregate of the cash deposited with or received by the Corporate Trustee pursuant to the provisions of Section 59, Section 60, Section 61 (except such cash as is to be paid over to the Company under the provisions of Section 61), or Section 62 of the Mortgage.
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Proceeds of Released Property as used herein and in the Debentures shall mean the aggregate amount of the consideration received or to be received by the Company on the actual sale or other actual disposition (subsequent to the execution of this Indenture) of any property included in utility plant accounts (including therein an amount equivalent to any part of such consideration consisting of other than cash at the fair value thereof to the Company at the time of such sale or other disposition, as determined in good faith by the Board of Directors of the Company, and excluding therefrom an amount equivalent to any consideration received or to be received by the Company on the sale or other disposition of any property (i) which property shall have become worn out or permanently unserviceable and the book value of which shall have been credited to utility plant accounts upon the retirement thereof or (ii) to the extent that the consideration so received or to be received shall constitute Property Additions) after deducting from such amount, to the extent paid or payable by the Company, all expenses and all taxes (including income taxes, if any) upon or in respect of any such sale or other disposition.
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Proceeds of Released Property means the aggregate of the cash deposited with or received by the Trustee pursuant to the “Proceeds of Released Property”
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Examples of Proceeds of Released Property in a sentence

  • Covenant with Respect to Application of Proceeds of Released Property to Redemption of Bonds of the 14½% Series Due 1988 726 Sec.

  • The Senior Note Series A Bonds will not be subject to prepayment or redemption prior to maturity except as provided herein, notwithstanding the provisions of Section 39 or Section 64 of the Mortgage, or with "Proceeds of Released Property," as defined in the Mortgage.

  • The Senior Note Series B Bonds will not be subject to prepayment or redemption prior to maturity except as provided herein, notwithstanding the provisions of Section 39 or Section 64 of the Mortgage, or with "Proceeds of Released Property," as defined in the Mortgage.

  • Covenant with Respect to Application of Proceeds of Released Property to Redemption of Bonds of the 8.95% Series Due 1998 593 ARTICLE FIVE.

  • Covenant with Respect to Application of Proceeds of Released Property to Redemption of Bonds of the 9½% Series Due 2003 618 ARTICLE FOUR.

  • The Bonds will not be subject to prepayment or redemption prior to maturity except as provided herein, notwithstanding the provisions of Section 39, Section 64 or Section 87 of the Mortgage, or with "Proceeds of Released Property," as defined in the Mortgage.

  • The Senior Note Series C Bonds will not be subject to prepayment or redemption prior to maturity except as provided herein, notwithstanding the provisions of Section 39 or Section 64 of the Mortgage, or with "Proceeds of Released Property," as defined in the Mortgage.


More Definitions of Proceeds of Released Property

Proceeds of Released Property means the aggregate of
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Proceeds of Released Property as used in this Section shall mean cash deposited with the Trustee pursuant to the provisions of Section 6 of Article Eleven of the First Mortgage as amended and applied to the redemption of Bonds of Series Due 1982 pursuant to the provisions of Section 5 of Article Eleven of the First Mortgage as heretofore and hereby amended. Except as in this Sixth Supplemental Indenture otherwise provided with respect to any matter or question, the provisions of Article Ten of the First Mortgage as amended shall be applicable in the case of the redemption of all or any part of the Bonds of Series Due 1982 at any time outstanding.
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Related to Proceeds of Released Property

  • Released Property shall have the meaning set forth in Section 2.9 hereof.

  • Landlord Personal Property Collateral Access Agreement means a Landlord Waiver and Consent Agreement substantially in the form of Exhibit K with such amendments or modifications as may be approved by the Collateral Agent.

  • Contractor-acquired property means property acquired, fabricated, or otherwise provided by the Contractor for performing a contract, and to which the Government has title.

  • Release Property has the meaning set forth in Section 2.5.

  • Personal Property Collateral means all Collateral other than Real Property.

  • Qualifying Property means a primary residence that a qualified applicant owned and occupied

  • Specified Property means property for which an election has been made for a special elective benefit.

  • Assessed Property means any Parcel within the District against which an Assessment is levied.

  • Purchased Property As defined in Section 2.01(a) of the Pooling Agreement.

  • Subject Property means any premises located in the County on which an energy efficiency improvements, water efficiency improvements, or renewable resource applications are being or have been made and financed through an outstanding PACE loan.

  • Excluded Property shall have the meaning set forth in the Security Agreement.

  • Foreclosed Property The Property or other Collateral securing the Mortgage Loan, title to which has been acquired by the Special Servicer on behalf of the Trust and the Companion Loan Holders through foreclosure, deed in lieu of foreclosure or otherwise in the name of the Trustee or its nominee.

  • Existing Property means all property against which ad valorem property taxes were levied by a local unit for its concluding fiscal year, minus all property that is considered losses for purposes of ad valorem property tax levies of the local unit for the ensuing fiscal year.

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • Mortgaged Real Property means each of the parcels of real property set forth on Schedule 4 hereto, or interests therein, owned in fee by a Credit Party, together with each other parcel of Real Property that shall become subject to a Mortgage after the Closing Date, in each case together with all of such Credit Party’s right, title and interest in the improvements and buildings thereon and all appurtenances, easements or other rights belonging thereto.

  • Covered Property is the address stated on your Agreement Coverage Summary Page. • “Domestic-grade” Items are those that were designated by the manufacturer, manufactured and marketed solely for installation and use in a residential single family dwelling.

  • Developed Property means all Assessor’s Parcels of Taxable Property for which Building Permits were issued on or before May 1 of the prior Fiscal Year, provided that such Assessor's Parcels were created on or before January 1 of the prior Fiscal Year and that each such Assessor's Parcel is associated with a Lot, as determined reasonably by the Board.

  • Closing Date Mortgaged Property as defined in Section 3.1(i).

  • Real Property Collateral means the parcel or parcels of Real Property identified on Schedule R-1 and any Real Property hereafter acquired by Borrower.

  • Leased Personal Property shall have the meaning given such term in Section 2.1(e).

  • Security Property means all right, title and interest in, to and under any Security Document, including:

  • Public Property means any and all property owned by the City or held in the name of the City by any of the departments, commissions or agencies within the City government.

  • Excluded Personal Property has the meaning set forth in Section 2.2(c).

  • Improved Property means any property upon which there is erected a structure intended for continuous or periodic habitation, occupancy or use by human beings or animals and from which structure Sanitary Sewage and/or Industrial Wastes shall be or may be discharged.

  • Acquired Property shall have the meaning set forth in Section 5.1.10(h)(i) hereof.