Qualified bond definition

Qualified bond means a bond that is qualified under this act for state loans as provided in section 16 of article IX of the state constitution of 1963. A qualified bond includes the interest amount required for payment of a school district's net interest obligation under an interest rate exchange or swap, hedge, or other agreement entered into pursuant to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821, but does not include a termination payment or similar payment related to the termination or cancellation of an interest rate exchange or swap, hedge, or other similar agreement. A qualified bond may include a bond issued to refund loans owed to the state under this act.
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Qualified bond. Election with respect to the Agreement. Lessee hereby irrevocably elects to have Section 6431(f) of the Code apply to the Agreement. Lessee hereby acknowledges that as a consequence of this election, Lessor (including its successors and assigns) will not be entitled to a tax credit as a result of ownership of the Agreement.
Sample 1
Qualified bond means a revenue bond that is a "qualified bond" within the meaning of Section 141(e) of the Code, the interest or distributions in respect of which are excluded from gross income for federal income tax purposes, and which is secured by, among other collateral, a mortgage on a multifamily housing property constituting a "qualified residential rental property" under Section 142(d) of the Code (or a predecessor provision) which secures a Qualified Bond.
Sample 1

Examples of Qualified bond in a sentence

  • Promptly after the Conversion Date for the Series 2022 Bond, the Owner shall turn in the Series 2022 Bond in its possession to the Trustee and the Trustee shall promptly mail to the Owner of the Series 2022 Bond a new Series 2022 Bond at the Tax-Exempt Rate and which shall include a copy of the opinion of Qualified Bond Counsel delivered on the Conversion Date and optional redemption provisions in form acceptable to the Owner.

  • Notwithstanding any other provision in this Restriction Agreement, all restrictions on the operation and occupancy of the Facility contained in this Restriction Agreement which are not necessary, in the opinion of Qualified Bond Counsel, to maintain the exclusion from gross income of interest on the Bonds for purposes of federal income taxation, shall terminate when either the Bonds or the Lease has been paid in full.

  • The parties hereto agree to execute, deliver and record, if applicable, any and all documents or instruments reasonably necessary in the opinion of and in the form approved by Qualified Bond Counsel to effectuate the intent of this Section.

  • In addition, the Issuer and the Trustee may consult with Qualified Bond Counsel, and the opinion of such counsel shall be full and complete authorization and protection in respect of any action taken or suffered by the Trustee hereunder in good faith and in conformity with such opinion.

Related to Qualified bond

  • FA Selected Bond means a government security or securities selected by the Financial Adviser as having an actual or interpolated maturity comparable with the remaining term of the Notes that would be utilised, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities denominated in the same currency as the Notes and of a comparable maturity to the remaining term of the Notes;

  • Qualified Securitization Financing means any Securitization Facility (and any guarantee of such Securitization Facility), that meets the following conditions: (i) the Borrower shall have determined in good faith that such Securitization Facility (including financing terms, covenants, termination events and other provisions) is in the aggregate economically fair and reasonable to the Borrower and the Restricted Subsidiaries; (ii) all sales of Securitization Assets and related assets by the Borrower or any Restricted Subsidiary to the Securitization Subsidiary or any other Person are made at fair market value (as determined in good faith by the Borrower); (iii) the financing terms, covenants, termination events and other provisions thereof shall be on market terms (as determined in good faith by the Borrower) and may include Standard Securitization Undertakings; and (iv) the obligations under such Securitization Facility are nonrecourse (except for customary representations, warranties, covenants and indemnities made in connection with such facilities) to the Borrower or any Restricted Subsidiary (other than a Securitization Subsidiary).

  • Reference Bond Dealer means each of five banks which are primary government securities dealers or market makers in pricing corporate bond issuances, as selected by the Calculation Agent in its discretion after consultation with the Issuer;

  • Reference Bond means for any Reset Period a government security or securities issued by the state responsible for issuing the Specified Currency (which, if the Specified Currency is euro, shall be Germany) selected by the Issuer on the advice of an investment bank of international repute as having an actual or interpolated maturity comparable with the relevant Reset Period that would be utilised, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities denominated in the same currency as the Notes and of a comparable maturity to the relevant Reset Period.