Reserve Instrument definition

Reserve Instrument means a device or instrument issued by a Reserve Instrument Provider to satisfy all or any portion of the Debt Service Reserve Requirement applicable to a Series of Bonds. The term “Reserve Instrument” includes, by way of example and not of limitation, letters of credit, bond insurance policies, surety bonds, standby bond purchase agreements, lines of credit and other devices.
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Reserve Instrument means an instrument or other device issued by a Reserve Instrument Issuer to satisfy all or any portion of the Debt Service Reserve Requirement, if any, for a Series of Bonds. The term “Reserve Instrument” includes, by way of example and not of limitation, letters of credit, bond insurance policies, standby bond purchase agreements, lines of credit and other security instruments and other devices; provided, however, that no such device or instrument shall be a “Reserve Instrument” for purposes of this Indenture unless specifically so designated in the Supplemental Indenture authorizing the use of such device or instrument.
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Reserve Instrument means a device or instrument (other than a Security Instrument) issued by a Reserve In- strument Issuer to satisfy all or any portion of the Debt Service Reserve Requirement with respect to one or more Series of Bonds or Contracts; provided, however, that if a condition to issuance of a Reserve Instrument is to require that only certain instruments qualify as Reserve Instruments for purposes of the Resolution then the term “Reserve Instrument” shall include only such instruments that qualify as Reserve Instruments so long as such requirement is in effect and shall be stated in the Supplemental Resolution relating to the Series of Bonds or Contracts for which the limitation is a condition to issuance of the related Reserve Instrument. Subject to the foregoing provision, the term “Reserve Instrument” includes, by way of example and not of limitation, letters of credit, bond insurance poli- cies, standby bond purchase agreements, lines of credit, surety bonds, and other security instruments and other de- vices; provided that, if the Outstanding Bonds or Contract are rated by a rating agency, “Reserve Instrument” shall be deemed to refer only to a reserve instrument that is issued by a Reserve Instrument Issuer whose general unse- cured, unenhanced debt obligations are rated by such rating agency in a category at least as favorable as the rating on such Bonds or Contract.
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Examples of Reserve Instrument in a sentence

  • There shall be paid into the Reserve Instrument Fund the amounts required hereby and by a Supplemental Indenture to be so paid.

  • In calculating the amount on deposit in each account in the Debt Service Reserve Fund, the amount of any Reserve Instrument Coverage will be treated as an amount on deposit in such account in the Debt Service Reserve Fund.

  • Moneys at any time on deposit in the account of the Debt Service Reserve Fund in excess of the amount required to be maintained therein (taking into account the amount of related Reserve Instrument Coverage) shall be transferred by the Trustee to the Bond Fund at least once each year.

  • No Reserve Instrument shall be allowed to expire or terminate while the related Series of Bonds are Outstanding unless and until cash has been deposited into the related account of the Debt Service Reserve Fund, or a new Reserve Instrument has been issued in place of the expiring or terminating Reserve Instrument, or any combination thereof in an amount or to provide coverage, as the case may be, at least equal to the amount required to be maintained in the related account of the Debt Service Reserve Fund.

  • The Issuer covenants that it will punctually pay or cause to be paid the Principal of and interest on every Bond issued hereunder, any Security Instrument Repayment Obligations and any Reserve Instrument Repayment Obligations, in strict conformity with the terms of the Bonds, this Indenture, any Security Instrument Agreement and any Reserve Instrument Agreement, according to the true intent and meaning hereof and thereof.

  • The Trustee shall prepare an annual accounting for each Bond Fund Year by the end of the month following each such Bond Fund Year showing in reasonable detail all financial transactions relating to the funds and accounts held by the Trustee hereunder during the accounting period and the balance in any funds or accounts created hereby as of the beginning and close of such accounting period, and shall mail the same to the Issuer, and to each Reserve Instrument Provider requesting the same.

  • Moneys on deposit in any account of the Debt Service Reserve Fund shall be used to make up any deficiencies in the Bond Fund only for the Series of Bonds secured by said account and any Reserve Instrument shall only be drawn upon with respect to Bonds for which such Reserve Instrument was obtained.

  • Any notice that is required to be given to holders of the Series 2020 Bonds (the “Bondholders”), any entity pursuant to Rule 15c2-12(b)(5) adopted by the Securities and Exchange Commission or to the Trustee pursuant to the Indenture shall also be provided to the Reserve Instrument Provider simultaneously with the sending of such notices.

  • Each Reserve Instrument Provider and Security Instrument Issuer shall be notified by the Issuer immediately upon the resignation or termination of the Trustee and provided with a list of candidates for the office of successor Trustee.

  • If a Security Instrument or a Reserve Instrument is in effect with respect to any Series of Bonds Outstanding and if a proposed modification or amendment would affect such Series of Bonds, then, except as provided in Section 9.1, neither this Indenture nor any Supplemental Indenture with respect to such Series of Bonds shall be modified or amended at any time without the prior written consent of the related Security Instrument Issuer or Reserve Instrument Provider, as applicable.


More Definitions of Reserve Instrument

Reserve Instrument means an instrument or other device (other than a Security Instrument) issued by a Reserve Instrument Issuer and authorized or provided for in a Supplemental Indenture to satisfy all or any portion of the Debt Service Reserve Requirement, if any, for a Series of Bonds. The term “Reserve Instrument” includes, by way of example and not of limitation, letters of credit, bond insurance policies, standby bond purchase agreements, lines of credit, surety bonds, and other security instruments and other devices.
Sample 1
Reserve Instrument means a device or instrument issued by a Reserve Instrument Issuer to satisfy all or any portion of the Debt Service Reserve Requirement. The term “Reserve Instrument” includes, by way of example and not of limitation, letters of credit, bond insurance policies, surety bonds, standby bond purchase agreements, lines of credit and other devices. Each Reserve Instrument must either be approved by each Bond Insurer or meet the criteria set forth in the General Indenture.
Sample 1
Reserve Instrument means an instrument or other device issued by a Reserve Instrument Issuer to satisfy all or any portion of the Debt Service Reserve Requirement, if any, for a Series of Bonds. The term “Reserve Instrument” includes, by way of example and not of limitation, letters of credit, bond insurance policies, standby bond purchase agreements, lines of credit and other security instruments and other devices; provided, however, that no such device or instrument shall be a “Reserve Instrument” for purposes of this Indenture unless specifically so designated in the Supplemental Indenture authorizing the use of such device or instrument. Reserve Instrument Agreement
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Related to Reserve Instrument

  • Long Derivative Instrument means a Derivative Instrument (i) the value of which generally increases, and/or the payment or delivery obligations under which generally decrease, with positive changes to the Performance References and/or (ii) the value of which generally decreases, and/or the payment or delivery obligations under which generally increase, with negative changes to the Performance References.

  • Reference Instrument means Natural Gas (Henry Hub) Future.

  • Derivative Instrument with respect to a Person, means any contract, instrument or other right to receive payment or delivery of cash or other assets to which such Person or any Affiliate of such Person that is acting in concert with such Person in connection with such Person’s investment in the Notes (other than a Screened Affiliate) is a party (whether or not requiring further performance by such Person), the value and/or cash flows of which (or any material portion thereof) are materially affected by the value and/or performance of the Notes and/or the creditworthiness of the Company and/or any one or more of the Guarantors (the “Performance References”).

  • Mortgage Instrument means any mortgage, deed of trust or deed to secure debt executed by a Credit Party in favor of the Administrative Agent, for the benefit of the Secured Parties, as the same may be amended, modified, extended, restated, replaced, or supplemented from time to time.

  • Derivative Instruments means options, rights, warrants, appreciation rights, tracking, profit and phantom interests and other derivative instruments (other than equity interests in the Partnership) relating to, convertible into or exchangeable for Partnership Interests.

  • Trade Instruments means any performance bonds, advance payment bonds or documentary letters of credit issued in respect of the obligations of any member of the Group arising in the ordinary course of trading of that member of the Group.

  • Mortgage Instruments means such title reports, ALTA title insurance policies (with endorsements), evidence of zoning compliance, property insurance, flood certifications and flood insurance (and, if applicable FEMA form acknowledgements of insurance), opinions of counsel, ALTA surveys, appraisals, environmental assessments and reports, mortgage tax affidavits and declarations and other similar information and related certifications as are reasonably requested by, and in form and substance reasonably acceptable to, the Collateral Agent from time to time.

  • Pledge Instruments With respect to each Cooperative Loan, the Stock Power, the Assignment of Proprietary Lease and the Security Agreement.

  • Eligible Instruments means monetary assets, money market instruments and securities that are payable in Dollars only and essentially risk free as to collection of principal and interest, including U.S. Government Obligations.

  • Short Derivative Instrument means a Derivative Instrument (i) the value of which generally decreases, and/or the payment or delivery obligations under which generally increase, with positive changes to the Performance References and/or (ii) the value of which generally increases, and/or the payment or delivery obligations under which generally decrease, with negative changes to the Performance References.

  • Release Instruments is defined in Section 11.12(f).

  • Gift instrument means a record or records, including an institutional solicitation, under which property is granted to, transferred to, or held by an institution as an institutional fund.

  • Trust instrument means this Agreement and Declaration of Trust as the same may be amended and restated from time to time.

  • Reference Instrument Price means at any time during the trading period on the Reference Exchange the price of the

  • negotiable instrument means a “negotiable instrument” as defined in the UCC.

  • money market instrument means with respect of an Index Calculation Date the Stockholm Interbank Offered Rate 3 Months (the "Reference Interest Rate"), as published on Bloomberg page STIBB3M Index (or any replacement Bloomberg page which displays that rate) (the "Screen Page") around 11:00 a.m. (London time) on that day.

  • Debt Instrument means any loan, bond, debenture, promissory note or other instrument evidencing indebtedness (demand or otherwise) for borrowed money or other liability;

  • Municipal debt instrument means any note, bond, debenture or other evidence of indebtedness issued by a municipality, including dematerialised or electronic evidence of indebtedness intended to be used in trade;

  • Money Market Instruments means instruments normally dealt in on the money

  • Tier 2 Instruments means capital instruments or subordinated loans that meet the conditions laid down in Article 63 of Regulation (EU) No 575/2013;

  • Current Reference Instrument means the Initial Reference Instrument from the Index Start Date until the first Rollover Date. Once the Index Closing Value on the first Rollover Date has been calculated and determined, this Reference Instrument loses its validity and is replaced by the Reference Instrument contract for the Contract Months specified above next falling due on the Reference Exchange. On each subsequent Rollover Date, following the calculation and determination of the Index Closing Value, the Current Reference Instrument is replaced in turn by the Reference Instrument contract falling due on the Reference Exchange in the next following Contract Month.

  • Permitted Instruments Any one or more of the following:

  • Tier 1 Instruments means any and all (i) securities or other obligations (other than Tier 1 Shares) issued by UBS Group AG or (ii) shares, securities, participation securities or other obligations (other than Tier 1 Shares) issued by a subsidiary of UBS Group AG and having the benefit of a guarantee, credit support agreement or similar undertaking of UBS Group AG, each of which shares, securities, participation securities or other obligations described in clauses (i) and (ii) of this definition qualify, or are issued in respect of a security that qualifies, as Tier 1 Capital of the Group and/or UBS Group AG (without regard to quantitative limits on such capital) on a consolidated (Finanzgruppe) or on an unconsolidated (Einzelinstitut) basis.

  • Credit Support Instrument The instrument or document pursuant to which the Credit Support for a given Series (or Class within such Series) is provided, as specified in the applicable Supplement.

  • Credit Support Instruments has the meaning set forth in Section 3.01(a).

  • Financial Instrument means those instruments specified in Section C of Annex I;