Refunding Escrow definition

Refunding Escrow means one or more funds established as part of a single transaction, or a series of related transactions, containing Proceeds of a Refunding Issue and any other amounts to be used to pay Debt Service on Refunded Bonds of one or more issues.
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Refunding Escrow means one or more funds established as part of a single transaction or a series of related transactions, containing proceeds of a Refunding Issue and
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Refunding Escrow means one or more funds established as part of a single transaction or a series of related transactions, containing proceeds of a Refunding Issue and any other amounts to provide for payment of principal or interest on one or more Prior Issues. For this purpose, funds are generally not so established solely because of
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Examples of Refunding Escrow in a sentence

  • The sufficiency of the moneys to 104081623.3 1001189978 Anaheim Water [ ] Refunding Escrow Agreement redeem the Refunded Bonds on said redemption date has been verified in a report prepared by [ ] dated [ ], 2022.

  • Following receipt of bids, the size of the Second Series B Bonds may be further adjusted by the Treasurer by up to 15% to account for premium bid, if any, and savings realized from the purchase of securities for deposit to the Refunding Escrow Account.

  • The Refunding Escrow cash flow is set forth in Schedule II attached hereto.

  • All securities, investments and moneys in the Refunding Escrow are hereby irrevocably pledged, subject to the provisions of Section 3 hereof, to secure the payment of the Redemption Price of the Prior Bonds.

  • Except as otherwise provided in Section 3, the Community Facilities District hereby requests and irrevocably instructs the Escrow Agent to deposit in the Refunding Escrow the principal of and interest on the Investment Securities held for the account of the Refunding Escrow promptly as such principal and interest become due and, subject to the provisions of Section 3 hereof, to pay in timely fashion the Redemption Price of the Prior Bonds.

  • These proceeds of the 2020 Series A refunding bonds were deposited into a refunding escrow fund held by an escrow agent under a Refunding Escrow Agreement between the escrow agent and the Town.

  • Except as otherwise provided in this Section, the Escrow Agent shall not reinvest any remaining portion of the Refunding Escrow and shall hold such portion uninvested in the Refunding Escrow.

  • Further Voted: to authorize the deposit of $26,935.52 of unexpended Refunded Bonds proceeds into the Refunding Escrow Fund, as defined in the Agreement, to pay debt service on the related Refunded Bonds.

  • The Chief Financial Officer shall direct the Trustee in writing (A) to hold funds in the County User Fee Debt Service Reserve Fund established with respect to the Series 1994 Bonds in the County User Fee Debt Service Reserve Fund in the amount necessary to satisfy in full the Reserve Requirement with respect to the Series 2004 Bonds and (B) to transfer the balance to the Refunding Escrow Agent for use in refunding the Refunded Series 1994 Bonds as set forth in the Series 1994 Bond Escrow Agreement.

  • Motion by Bartholomew second Piekarski Krech to approve 7D Approval of Refunding Escrow Agreement for General Obligation Sewer Revenue Bonds, Series 2010A.


More Definitions of Refunding Escrow

Refunding Escrow means one or more funds established as part of a single transaction or a series of related transactions, containing proceeds of a Refunding Issue and any other amounts to provide for payment of principal or interest on one or more Prior Issues. For this purpose, funds are generally not so established solely because of (i) the deposit of Proceeds of an issue and Replacement Proceeds of the Prior Issue in an escrow more than 6 months apart, or (ii) the deposit of Proceeds of completely separate issues in an escrow.
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Refunding Escrow means the Refunding Escrow established pursuant to the 2013 Escrow Agreement.
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Related to Refunding Escrow

  • Adjustment Escrow Account means the escrow account established pursuant to the Escrow Agreement in respect of the Adjustment Escrow Amount.

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06(g) in the name of the Trustee for the benefit of the Certificateholders and designated “U.S. Bank National Association, in trust for registered holders of Home Equity Asset Trust 2004-2, Home Equity Pass-Through Certificates, Series 2004-2. Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Permitted Investments made with funds in the Prefunding Account shall be for the account of the Depositor.

  • Indemnity Escrow Account means the escrow account established by the Escrow Agent pursuant to the terms of the Escrow Agreement for purposes of holding the Indemnity Escrow Amount.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Reserve Fund Initial Deposit means the initial deposit of cash in the amount of $3,846,153.85 made by or on behalf of the Seller into the Reserve Fund on the Closing Date.

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Spread Account Initial Deposit means an amount equal to 2.0% of the aggregate principal balance of the Receivables on the Initial Cutoff Date (which is equal to $22,000,029.61).

  • Escrow Deposit has the meaning set forth in Section 2.1.

  • Escrowed Payment means an aggregate cash payment of up to $6,000,000 which is the Purchase Price;

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Closing Escrow Agreement means the Closing Escrow Agreement, dated as of the date hereof, between the Placement Agent, the Company and the Escrow Agent pursuant to which the Investors shall deposit their Investment Amounts with the Escrow Agent to be applied to the transactions contemplated hereunder, in the form of Exhibit B hereto.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Initial Reserve Account Deposit means $3,340,897.69.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.

  • Adjustment Escrow Funds means, at any time, the portion of the Adjustment Escrow Amount then remaining in the Adjustment Escrow Account.

  • Deposit Escrow Agreement has the meaning set forth in Section 2.2.

  • Special Payments Account means the Eligible Deposit Account created pursuant to Section 2.2(a)(ii) as a sub-account to the Collection Account.

  • Adjustment Escrow Fund means the Adjustment Escrow Amount deposited with the Escrow Agent, as such amount may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Initial Deposit shall have the meaning set forth in Section 2.5(a).

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Principal Funding Account Investment Proceeds shall have the meaning specified in subsection 4.03(a)(ii).

  • Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the May 2023 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the November 2023 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferor may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.

  • Prepayment Account means an account established by the Borrower with the Administrative Agent and over which the Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this paragraph (h). The Administrative Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account in Permitted Investments that are described in clause (a), (b), (c) or (d) of the definition of such term and that mature prior to the last day of the applicable Interest Periods of the Eurodollar Term Borrowings or Eurodollar Revolving Borrowings to be prepaid, as the case may be; provided, however, that (i) the Administrative Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Administrative Agent to be in, or would result in any, violation of any law, statute, rule or regulation and (ii) the Administrative Agent shall have no obligation to invest amounts on deposit in the Prepayment Account if a Default or Event of Default shall have occurred and be continuing. The Borrower shall indemnify the Administrative Agent for any losses relating to the investments so that the amount available to prepay Eurodollar Borrowings on the last day of the applicable Interest Period is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest earned on such investments, the Prepayment Account shall not bear interest. Interest or profits, if any, on such investments shall be deposited in the Prepayment Account and reinvested and disbursed as specified above. If the maturity of the Loans has been accelerated pursuant to Article VIII, the Administrative Agent may, in its sole discretion, apply all amounts on deposit in the Prepayment Account to satisfy any of the Obligations. The Borrower hereby grants to the Administrative Agent, for its benefit and the benefit of the Fronting Bank, the Swingline Lender and the Lenders, a security interest in the Prepayment Account to secure the Obligations.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,799,999.80.