Qualified obligations definition

Qualified obligations means obligations that meet 1 or more of the following:

Qualified obligations means, without duplication, [(i) the 2011-A Purchase Payments, (ii) the 2012-A Purchase Payments, (iii) the 2014-A Purchase Payments, (iv) the 2015-B Purchase Payments, (v) the 2016 Purchase Payments, (vi) the 2017 Purchase Payments,

Qualified obligations has the meaning specified in Section 1504.

Examples of Qualified obligations in a sentence

• The Treasurer shall continue to maintain the ERAN Account, heretofore created under Ordinance No. 5032 of the City Council, so long as any Qualified Obligations remain Outstanding; provided, however, that if 2022 Bonds are the only Qualified Obligations Outstanding, such account shall be closed on the date that no 2022 Bonds remain Outstanding and no obligations payable from such account remain outstanding.

• The 2022 Purchase Payments and all other payments with respect to Qualified Obligations shall be equally secured by the Surplus Revenues in the Qualified Obligations Account without priority for number or date of delivery of such Qualified Obligations.

• In the event that seven (7) days prior to a Purchase Payment Date there are insufficient moneys in the Qualified Obligations Account to pay the amounts required by paragraph (b) of this Section 5.02 on the due date thereof, the City will notify the Trustee not later than five (5) days prior to the Purchase Payment Date thereof that the amount available in the Qualified Obligations Account is less than the amount required on the following Purchase Payment Date.

• The Treasurer shall continue to maintain the Second Lien Qualified Obligations Account, heretofore created under the 2004 Resolution, so long as any Qualified Obligations remain Outstanding; provided, however, that if 2022 Bonds are the only Qualified Obligations Outstanding, such account shall be closed on the date that no 2022 Bonds remain Outstanding and no obligations payable from such account remain outstanding.

• The Treasurer shall continue to maintain the Qualified Obligations Account, heretofore created under Ordinance No. 5032 of the City Council, so long as any Qualified Obligations remain Outstanding.

More Definitions of Qualified obligations

Qualified obligations means U.S. Government Obligations and Other Qualified Obligations. "U.S. Government Obligations" means securities that are (a) direct obligations of the United States of America for the payment of which its full faith and credit is pledged or (b) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, which, in either case, are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act of 1933, as amended) as custodian with respect to any such U.S. Government Obligation or a specific payment of principal of or interest on any such U.S. Government Obligation held by such custodian for the account of the holder of such depositary receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligation or the specific payment of principal of or interest on the U.S. Government Obligation evidenced by such depositary receipt. "Other Qualified Obligations" means (x) any deposit which is fully insured by (i) the Federal Deposit Insurance Corporation or (ii) an insurance company whose ability to pay claims has received one of the three highest ratings from a nationally recognized rating agency pursuant to a policy in a form that has been approved by a nationally recognized rating agency, or (y) any deposit which is made with any bank situated in the United States whose commercial paper has received one of the three highest ratings from a nationally recognized rating agency. For purposes of this definition, a bank shall be deemed to have commercial paper that has received one of the three highest ratings of a particular rating agency if the bank is the principal subsidiary of a bank holding company and the commercial paper of the bank holding company has received one of the three highest ratings of such agency. A bank shall be deemed the principal subsidiary of a bank holding company if the bank's net worth exceeds 66 2/3% of the consolidated net worth of the bank holding company.

Qualified obligations has the meaning given in the Pledge Agreement and, from and after the Refinancing Completion Date, includes the Obligations under the Notes and this Indenture.

Qualified obligations means, without duplication, (i) the 2009-A Purchase Payments, (ii) the 2011-A Purchase Payments, (iii) the 2012-A Purchase Payments, (iv) the 2014-A Purchase Payments, (v) the 2015-B Purchase Payments, (vi) the 2016 Purchase Payments and (vii) additional Bonds and Obligations which at the time of initial delivery thereof satisfy the requirements set forth in this Installment Purchase Agreement for the issuance of additional Qualified Obligations.

Qualified obligations means all Obligations, other than (a) Obligations representing the principal of any Revolving Borrowing (to the extent not constituting a Secured Revolving Credit Extension) or any LC Disbursement (to the extent not constituting a Secured Revolving Credit Extension), (b) any Obligation which is prohibited by the terms of the Senior Notes Indentures from being secured and (c) any Obligation to the extent that, if such Obligation is secured by the Collateral, the Borrower would be required pursuant to the terms of any of the Senior Notes Indentures to secure the Senior Notes issued pursuant thereto equally and ratably with such Obligation.

Qualified obligations shall exclude claims of a Creditor Group that have been finally determined to be invalid and unenforceable by a court, or arbitral body, of competent jurisdiction, but shall include claims that are reinstated, for example in the event that a payment received by Creditor Group prior to the delivery of the Trigger Notice is later held to be voidable as a preferential transfer under applicable bankruptcy law, with the effect that the Credit Obligations of such Creditor Group are correspondingly reinstated.

Qualified obligations has the meaning set forth in the Installment Purchase Agreement.

Qualified obligations means (a) in the case of the New Agent and the New Lenders, all principal Supplemental Bank Facility Obligations which are incurred prior to the delivery of notice by the Agent to the New Agent of a Trigger Event, provided that the aggregate amount thereof shall not exceed the principal amount of $125,000,000, together with interest, fees, premiums, costs and expenses allocable to such principal, and (b) in the case of the Banks, all principal Existing Facility Obligations which are incurred prior to the delivery of notice by the New Agent to the Agent of a Trigger Event (including, without limitation, the amount of any letters of credit and related reimbursement obligations or other contingent obligations issued by the Agent and the Banks and any currency or interest rate hedging arrangements entered into with the Agent or any Bank).