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 described in section 148(d) of the Code, provided that the amount thereof allocable to the Bonds invested at a Yield materially higher than the Yield on the Bonds does not exceed 10% of the proceeds of the Bonds, within the meaning of section 148(d) of the Code, and does not exceed the size limitations in Section 1.148-2(f)(2)(ii) of the Regulations.

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.

Examples of Reasonably Required Reserve or Replacement Fund in a sentence

• 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 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 [(i) to fund a portion of a Reasonably Required Reserve or Replacement Fund (the “Reserve Fund”) and (ii)] 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").

More Definitions of Reasonably Required Reserve or Replacement Fund

Reasonably Required Reserve or Replacement Fund means any fund meeting the description set forth in section 148(d) of the Code.

Reasonably Required Reserve or Replacement Fund means any fund described in Section 148(d) of the Code.

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

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.