Reasonably Required Reserve or Replacement Fund definition

Reasonably Required Reserve or Replacement Fund means, in general, a reasonably required reserve or replacement fund as described in Treasury Regulations
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Reasonably Required Reserve or Replacement Fund means any fund that is pledged as security for or is available for payment of any Debt Service of any Governmental Obligation and is reasonably required by a lender, a State or other governmental or regulatory authority having jurisdiction over the Governmental Issuer, a national bond rating agency, or an underwriter or financial advisor and that satisfies the limitations of Treas. Reg. §1.148-2(f), issued under the Code.
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Reasonably Required Reserve or Replacement Fund means any fund meeting the description set forth in section 148(d) of the Code.
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Examples of Reasonably Required Reserve or Replacement Fund in a sentence

  • For purposes of this Section only, a Reasonably Required Reserve or Replacement Fund also includes any fund to the extent described in Treasury Regulations §1.148-5(c)(3)(i)(E) or (G).

  • The Proceeds of the Financing Agreement, together with certain other funds, will be used to fund a portion of a Reasonably Required Reserve or Replacement Fund (the "Reserve Fund") and to finance the Project, each of which constitutes a valid governmental purpose (the "Governmental Purpose").

  • The Proceeds of the Financing Agreement, together with certain other funds, will be used to fund a portion of a Reasonably Required Reserve or Replacement Fund (the "Reserve Fund") and to redeem the Prior Obligations, each of which constitutes a valid governmental purpose (the "Governmental Purpose").

  • The Debt Service Excess, up to an amount not exceeding the least of (i) 10% of the stated principal amount of the Obligation, (ii) the maximum annual principal and interest requirements on the Obligation, or (iii) 125% of the average annual principal and interest requirements on the Obligation, will be treated as a Reasonably Required Reserve or Replacement Fund.

  • Reasonably Required Reserve or Replacement Fund – Also, the gross proceeds of a tax- exempt obligation allocable to a “reasonably required reserve or replacement fund” are not subject to yield restriction.

  • In this example, City has gross proceeds in the(2) A Reasonably Required Reserve or Replacement Fund Generally, pursuant to section 148(d) and section 1.148-2(f), investments in a reasonably required reserve or replacement fund may be invested in higher yielding investments without violating the yield restriction rules if the reserve or replacement fund meets a size limitation test.

  • The Proceeds of the Financing Agreement, together with certain other funds, will be used to fund a portion of a Reasonably Required Reserve or Replacement Fund (the “Reserve Fund”) and to finance the Project, each of which constitutes a valid governmental purpose (the “Governmental Purpose”).

  • Payments for all servic es covered by this RFT shall be made on receipt of appropriate invoices, the satisfactory completion of work, and adhere to the Sec retariat’s Financ ial Policies and Procedures.


More Definitions of Reasonably Required Reserve or Replacement Fund

Reasonably Required Reserve or Replacement Fund means any fund described in Section 148(d) of the Code.
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Reasonably Required Reserve or Replacement Fund means any fund described in Section 148(d) of the Code provided that the amount thereof allocable to the Issuer Loan invested at a Yield materially higher than the Yield on the Issuer Loan does not exceed the lesser of
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Reasonably Required Reserve or Replacement Fund means any fund described in Section 148(d) of the Code provided that the amount thereof allocable to the Series 2018A Bonds invested at a Yield materially higher than the Yield on the Series 2018A Bonds does not exceed at any time the least of (a) 10% of the stated principal amount of the Series 2018A Bonds (or Sale Proceeds in the event that the amount of original issue discount exceeds two percent multiplied by the stated redemption price at maturity of the Series 2018A Bonds), (b) the maximum annual principal and interest requirements of the Series 2018A Bonds, and (c) 125 percent of average annual principal and interest requirements of the Series 2018A Bonds, within the meaning of Section 148(d) of the Code.
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Related to Reasonably Required Reserve or Replacement Fund

  • Required Reserves at any time means the sum of (a) the Yield Reserve, plus (b) the Servicing Fee Reserve, plus (c) the greater of (i) the sum of the Loss Reserve Ratio and the Dilution Reserve Percentage and (ii) the Minimum Percentage, each as in effect at such time, multiplied by the Net Pool Balance on such date.

  • Replacement Reserve As defined in Section 9.5.1.

  • Availability Reserves means, without duplication of any other Reserves or items to the extent such items are otherwise addressed or excluded through eligibility criteria, such reserves as Agent from time to time determines in its Permitted Discretion as being appropriate (a) to reflect the impediments to Agent’s ability to realize upon the Collateral, (b) to reflect claims and liabilities that Agent determines in its Permitted Discretion will need to be satisfied in connection with the realization upon the Collateral, (c) to reflect criteria, events, conditions, contingencies or risks which adversely affect any component of the Borrowing Base, or the assets, business, financial performance or financial condition of any Credit Party, or (d) to reflect that a Default or an Event of Default then exists. Without limiting the generality of the foregoing, Availability Reserves may include, in Agent’s Permitted Discretion, (but are not limited to) reserves based on: (i) Rent Reserves; (ii) customs duties, and other costs to release Inventory which is being imported into the United States of America; (iii) outstanding Taxes and other governmental charges, including, without limitation, ad valorem, real estate, personal property, sales, claims of the PBGC and other Taxes which may have priority over the interests of Agent in the Collateral; (iv) salaries, wages and benefits due to employees of any Borrower, (v) Customer Credit Liabilities, (vi) Customer Deposits, (vii) reserves for reasonably anticipated changes in the Appraised Value of Eligible Inventory between appraisals, (viii) warehousemen’s or bailee’s charges and other Permitted Liens which may have priority over the interests of Agent in the Collateral, (ix) amounts due to vendors on account of consigned goods, (x) Cash Management Reserves, (xi) Bank Products Reserves, and (xi) royalties payable in respect of licensed merchandise.

  • Replacement Assets means (1) non-current assets that will be used or useful in a Permitted Business or (2) substantially all the assets of a Permitted Business or a majority of the Voting Stock of any Person engaged in a Permitted Business that will become on the date of acquisition thereof a Restricted Subsidiary.

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2019-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

  • Loss Reserve means, on any day, an amount equal to (a) the sum of (i) the Aggregate Capital plus (ii) the LC Participation Amount at the close of business of the Servicer on such date multiplied by (b)(i) the Loss Reserve Percentage on such date divided by (ii) 100%, minus the Loss Reserve Percentage on such date.