Reserve Security definition

Reserve Security means any bond insurance, security, letter of credit, guaranty, surety bond or similar credit enhancement device providing for or securing the payment of all or part of the principal of and interest on the Parity Obligations, issued by an institution which has been assigned a credit rating at the time of issuance of the Reserve Security that is in one of the two highest rating categories of at least one nationally recognized rating agency, without regard to any gradations within a rating category.
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Reserve Security means any bond insurance, reserve insurance, reserve surety, collateral, security, letter of credit, guaranty, surety bond or similar credit enhancement device providing for or securing the payment of all or part of the principal of and interest on Parity Bonds, issued by an institution which has been assigned a credit rating by a Rating Agency, at the time that such Reserve Security is obtained by the City, in one of the three highest rating categories without regard to gradations within those categories (i.e., Aaa, Aa or A). Investments purchased with cash deposited into the Reserve Account shall not constitute Reserve Securities.
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Reserve Security means a surety bond, letter of credit or other financial instrument deposited in the Debt Service Reserve Account in lieu of cash and to be counted toward compliance with the Reserve Requirement.
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Examples of Reserve Security in a sentence

  • Reserve Security Fund: Organizations must maintain a reserve security fund at all times.

  • The Reserve Security Fund may be either a separate account from the Operations account, or it may be a reserve fund held separately from the undergraduates by the alumni board.

  • This “size and complexity” language is mirrored in security guidelines elsewhere, such as the HIPAA Security Standards [45 CFR 164.306(b)(2)], and the Federal Reserve Security Guidelines for financial institutions (see III.

  • You got to practice, train, fail, nail it by accident, repeat, per- fect, and still have the passion to do it all again.

  • The highest Open Offer will be taken as the Third Reserve Security Deposit amount.

  • If at any time the City passes, adopts, or otherwise approves a supplement or amendment for any of the purposes of subsection 21.2 or 21.3, the Bond Registrar shall cause notice of the proposed supplement or amendment to be given by first class mail (a) to all registered owners of the then outstanding Parity Obligations, (b) to each provider of a Reserve Security (if any), and (c) to each Rating Agency then providing a rating on the Parity Obligations.

  • The NR NSF COs also receive direction from the RSO via the Region Reserve Security Coordinator (RSC).

  • C-11.3 Contract Effort Required – Reserve Security Guard Force A.

  • Navy Security Force Sailors, to include Auxiliary Security Forces and Reserve Security Forces, will wear the NWU Type I or NWU Type III.

  • E-mail: chens@ujs.edu.cnContract/grant sponsor: National Natural Science Foundation of China Copyright q 2007 John Wiley & Sons, Ltd.


More Definitions of Reserve Security

Reserve Security means any Qualified Insurance or Qualified Letter of Credit
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Reserve Security means any Qualified Insurance or Qualified Letter
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Reserve Security means any bond insurance, security, letter of credit, guaranty, surety bond or similar credit enhancement device providing for or securing the payment of all or part of the principal of and interest on the Parity Bonds, issued by an institution which has been assigned a credit rating at the time of issuance of the device in one of the two highest rating categories of each of at least two Rating Agencies (without regard to any gradations within a rating category), or in one of the three highest rating categories with the consent of the registered owners of at least 50% of the Parity Bonds then outstanding. The Registered Owners of the Bonds by taking and holding the same shall be deemed to have consented to this amendment.
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Reserve Security means a surety bond or policy of insurance, obtained in lieu of cash and policy limit or stated amount equal to part or all of the Reserve Requirement. For so long as the bond insurance policy with respect to the 2009 Bonds is in effect, unless otherwise consented to by Assured Guaranty Corp., or its successor, the City shall not be permitted to fund future deposits to the Reserve Account with any Reserve Security provided by a Reserve Insurer which does not have assigned a credit rating at the time of issuance of such instrument in the highest rating category of each Rating Agency (without regard to any gradations within a rating category).
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Reserve Security means any bond insurance, security, letter of credit, guaranty, surety bond or similar credit enhancement device providing for or securing the payment of all or part of the principal of and interest on the Parity Bonds, issued by an institution which has been assigned a credit rating at the time of issuance of the device in one of the two highest rating categories of each of at least two Rating Agencies (without regard to any gradations within a rating category). Upon redemption or defeasance of the Outstanding Parity Bonds, when calculating the Reserve Requirement, the City shall exclude from Annual Debt Service, an amount equal to the direct payment the City expects to receive in respect of the 2010B Bonds and any other Parity Bonds issued as Tax Credit Bonds. The preceding sentence shall take effect earlier if the City obtains consent to such amendment in accordance with Section ; all purchasers of the Bonds, by taking and holding the same, shall be deemed to have consented to such provision.
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Related to Reserve Security

  • Derivative Security means any right, option, warrant or other security convertible into or exercisable for Common Stock.

  • Floating Rate Security means a Debt Security that provides for the payment of interest at a variable rate determined periodically by reference to an interest rate index specified pursuant to Section 2.03.

  • Regulation S Global Security The meaning specified in Section 3.01(c).

  • Rule 144A Global Security has the meaning specified in Section 2.1(a) of Appendix A.

  • Definitive Security means a security other than a Global Security or a temporary Security.

  • 144A Global Security means a permanent Global Security in the form of the Security attached hereto as Exhibit A-1, and that is deposited with and registered in the name of the Depositary, representing Securities sold in reliance on Rule 144A under the Securities Act.

  • Senior Security or “Senior Securities” means any Security or Securities designated pursuant to Section 301 as a Senior Security.

  • Restricted Definitive Security means a Definitive Security bearing the Private Placement Legend.

  • Exchange Security or a "Registrable Security" shall include a reference to the related Guarantee.

  • Bid Security (BS) means Earnest Money Deposit / monetary or financial guarantee to be furnished by a bidder along with its tender.

  • Unrestricted Definitive Security means Definitive Securities and any other Securities that are not required to bear, or are not subject to, the Restricted Securities Legend.

  • Regulation S Global Note means a Regulation S Temporary Global Note or Regulation S Permanent Global Note, as appropriate.

  • Fixed Rate Security means a Security which provides for the payment of interest at a fixed rate.

  • Restricted Global Security As defined in Section 3.01(c).

  • Note means a promissory note made by the Borrower in favor of a Lender evidencing Loans made by such Lender, substantially in the form of Exhibit C.

  • Derivative Securities means any securities or rights convertible into, or exercisable or exchangeable for (in each case, directly or indirectly), Common Stock, including options and warrants.

  • Quasi-Security means an arrangement or transaction described in paragraph (b) below.

  • Reference Security means the security specified as such in the relevant Final Terms. If a Reference Security is no longer outstanding, a Similar Security will be chosen by the Quotation Agent at 11:00 a.m. (CET) on the third Business Day preceding the Make-whole Redemption Date, quoted in writing by the Quotation Agent to the Issuer and published in accordance with Condition 12 (Notices).

  • Relevant Security means any share of Common Stock, any warrant to purchase shares of Common Stock or any other security of the Company or any other entity that is convertible into, or exercisable or exchangeable for, shares of Common Stock or any other equity security of the Company, in each case owned beneficially or otherwise by the undersigned on the date of closing of the Public Offering or acquired by the undersigned during the Lock-Up Period. The restrictions in the foregoing paragraph shall not apply to any exercise (including a cashless exercise or broker-assisted exercise and payment of tax obligations) of options or warrants to purchase shares of Common Stock; provided that any shares of Common Stock received upon such exercise, conversion or exchange will be subject to this Lock-Up Period. The Lock-Up Period will commence on the date of this Lock-up Agreement and continue and include the date that is one-hundred and eighty (180) days after the closing of the Public Offering. In addition, the undersigned further agrees that, except for the registration statement filed or to be filed in connection with the Public Offering, during the Lock-Up Period the undersigned will not, without the prior written consent of the Representative: (a) file or participate in the filing with the SEC of any registration statement or circulate or participate in the circulation of any preliminary or final prospectus or other disclosure document, in each case with respect to any proposed offering or sale of a Relevant Security, or (b) exercise any rights the undersigned may have to require registration with the SEC of any proposed offering or sale of a Relevant Security. In furtherance of the undersigned’s obligations hereunder, the undersigned hereby authorizes the Company during the Lock-Up Period to cause any transfer agent for the Relevant Securities to decline to transfer, and to note stop transfer restrictions on the stock register and other records relating to, Relevant Securities for which the undersigned is the record owner and the transfer of which would be a violation of this Lock-Up Agreement and, in the case of Relevant Securities for which the undersigned is the beneficial but not the record owner, agrees that during the Lock-Up Period it will cause the record owner to cause the relevant transfer agent to decline to transfer, and to note stop transfer restrictions on the stock register and other records relating to, such Relevant Securities to the extent such transfer would be a violation of this Lock-Up Agreement. Notwithstanding the foregoing, the undersigned may transfer the undersigned’s Relevant Securities:

  • Regulation S Global Certificate With respect to any Class of Book-Entry Non-Registered Certificates offered and sold outside of the United States in reliance on Regulation S, a single global Certificate, or multiple global Certificates collectively, in definitive, fully registered form without interest coupon, each of which Certificates bears a Regulation S Legend.

  • Rule 144A Global Note has the meaning assigned to it in Section 2.1(d).

  • Exchange Note means the Closed-End Exchange Note.

  • Global Bond means a 2013 Bond in registered global form without interest coupons.

  • 144A Global Note means a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that will be issued in a denomination equal to the outstanding principal amount of the Notes sold in reliance on Rule 144A.

  • Regulation S Permanent Global Security with respect to any series of Securities, means one or more permanent Global Securities bearing the Private Placement Legend, that will be issued in an aggregate amount of denominations equal in total to the outstanding principal amount of the Securities of such series initially sold or, if required by Rule 903 of Regulation S, of the Regulation S Temporary Global Security of such series upon expiration of the Distribution Compliance Period with respect to such series, as the case may be.