Second Mortgage Bonds definition

Second Mortgage Bonds means the Borrower's Second Mortgage Bonds issued under the Second Indenture.
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Second Mortgage Bonds the bonds issued pursuant to the General and Refunding Mortgage Indenture.
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Second Mortgage Bonds means the General and Refunding Mortgage Bonds, Series A, of the Borrower issued in accordance with Section 4.2 of this Agreement and secured under the Borrower Indenture.
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Examples of Second Mortgage Bonds in a sentence

  • The Second Mortgage Bonds constitute valid and enforceable second priority perfected Liens on the property of Borrower, as described in the Second Mortgage Indenture, in favor of Agent, for the ratable benefit of Agent, L/C Issuer and Lenders.

  • The Holders of a majority of aggregate principal amount of the Second Mortgage Bonds then Outstanding by notice to the Trustee may on behalf of the Holders of all of the Second Mortgage Bonds waive any existing Default or Event of Default and its consequences under the Second Mortgage except a continuing Default or Event of Default in the payment of interest or Liquidated Damages, if any, on, or the principal of, the Second Mortgage Bonds.

  • The Additional Payments provided for herein and in the Second Mortgage Bonds shall be made in the same manner directly to the entitled party, which in the case of the Additional Payments specified in Section 4.3(b) hereof shall be the Trustee, and shall be made in the same manner and by the same time of day as provided herein for Loan Payments.

  • With the TD Credit Agreement paid, and the Letters of Credit secured by the Pledge Bonds, Toronto Dominion will discharge the second mortgage securing the TD Credit Agreement and the Letters of Credit, thus allowing the new Second Mortgage Bonds to have priority second only to the First Mortgage Bonds (including the Pledge Bonds).

  • This bond is one of a series of bonds designated as the Second Mortgage Bonds, Collateral Series B, of the Company.

  • All consents, approvals, authorizations and orders of governmental or regulatory authorities which are required for the Company's execution and delivery of, consummation of the transactions contemplated by and compliance with the provisions of this Purchase Contract, the Agreement and the Second Mortgage Bonds have been obtained, including without limitation all necessary approving orders of the Maine Public Utilities Commission ( MPUC").

  • This Order does not constitute approval of the issuance of any additional principal amount of First Mortgage Bonds or Second Mortgage Bonds other than those specifically described and approved herein.

  • The Company is working with its financial and legal advisors, Donaldson Lufkin & Jenrette ("DLJ") and Milbank Tweed Hadley & McCloy ("Milbank"), respectively, to prepare the offering memorandum and other documentation and to obtain a rating for the proposed Second Mortgage Bonds.

  • The Registration Rights Agreement will be entered between the Company and each of the purchasers, and will provide that CVPS will cause the Second Mortgage Bonds, after initial purchase, to be registered for resale under the Securities Act.

  • At the Closing Date, (i) any Authority action in connection with the Notes and the approval of the Project (as defined in the Placement Memorandum) by the MPUC shall be final and no longer subject to appeal or reconsideration and (ii) the MPUC approval of the borrowing by the Company under the Agreement shall be final and no appeal of such approval of the borrowing shall affect the validity of the Second Mortgage Bonds.


More Definitions of Second Mortgage Bonds

Second Mortgage Bonds means bonds of any series authenticated and delivered from time to time under the Second Mortgage. "Securitization Transaction" means a transaction in which the Company or any Regulated Subsidiary, pursuant to authorization of the PSB, if required by applicable law, or other appropriate governmental authorizations, transfers rights or other property to a Person formed as a special purpose entity in conjunction with a financing involving such Person of accounts receivable of such person or based on the Company's or such Regulated Subsidiary's right to collect a non-bypassable transition or similar charge or other transferred right or property; provided that all Indebtedness incurred in connection with any such transaction shall constitute Non-Recourse Indebtedness.
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Second Mortgage Bonds has the meaning set forth in the first paragraph of this Agreement.
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Related to Second Mortgage Bonds

  • First Mortgage Bonds means bonds issued by the Company pursuant to the Indenture.

  • First Mortgage means a Mortgage that constitutes a first Lien on the real property and improvements described in or covered by that Mortgage.

  • Second Mortgage means a mortgage from which the proceeds of a loan or other extension of credit made by a third person are secured by a mortgage on the real property for which the mortgagor has used the proceeds of the loan or other extension of credit to pay all or part of the purchase price of the property.

  • First Mortgage Indenture means a first mortgage indenture pursuant to which any Borrower or any Subsidiary of any Borrower may issue bonds, notes or similar instruments secured by a lien on all or substantially all of such Borrower’s or such Subsidiary’s fixed assets, as the case may be.

  • First Mortgage Loan A Home Equity Loan which constitutes a first priority mortgage lien with respect to any Property.

  • Second Mortgage Loan A Home Equity Loan which constitutes a second priority mortgage lien with respect to the related Property.

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • Senior Bonds means all Bonds issued as Senior Bonds in compliance with the provisions of the Indenture.

  • Mortgage Indenture means the Mortgage and Deed of Trust, dated as of April 1, 1932, between SIGECO and Bankers Trust Company (as supplemented from time to time before or after the date hereof by various supplemental indentures thereto).

  • Net Mortgage Interest Rate As to any Mortgage Loan and Distribution Date, such Mortgage Loan's Mortgage Interest Rate thereon on the first day of the month preceding the month of the related Distribution Date reduced by (i) the Servicing Fee Rate and (ii) the Trustee Fee Rate.

  • Blanket Mortgage The mortgage or mortgages encumbering a Cooperative Property.

  • Mortgage Amendment means an amendment to an Existing Mortgage or an amendment and restatement of an Existing Mortgage, in each case in form and substance reasonably acceptable to the Collateral Agent.

  • Existing Bonds means the following obligations of Seller:

  • First Mortgagee means the holder of any First Mortgage.

  • Aircraft Mortgage means each Aircraft and Engine mortgage and security agreement entered into by any Borrower in favor of the Agent evidencing the Liens in respect of such Aircraft Collateral that will secure the Obligations, in each case as amended, modified, restated, supplemented or replaced from time to time.

  • Lost Mortgage Note Any Mortgage Note the original of which was permanently lost or destroyed and has not been replaced.

  • Lender-Paid Mortgage Insurance Loan Each of the Mortgage Loans identified on the Mortgage Loan Schedule as having a Lender-Paid Mortgage Insurance Rate.

  • Net Mortgage Pass-Through Rate (a) With respect to any Mortgage Loan (including an REO Mortgage Loan) that accrues interest on a 30/360 Basis, for any Distribution Date, the Net Mortgage Rate in effect for such Mortgage Loan during the one-month accrual period applicable to the Due Date for such Mortgage Loan that occurs in the same month as that Distribution Date; and (b) with respect to any Mortgage Loan (including an REO Mortgage Loan) that accrues interest on an Actual/360 Basis, for any Distribution Date, the annualized rate at which interest would have to accrue in respect of such Mortgage Loan on a 30/360 Basis in order to produce the aggregate amount of interest actually accrued (or, in the event of a voluntary or involuntary principal prepayment affecting same, that otherwise would have accrued) in respect of such Mortgage Loan (adjusted to the related Net Mortgage Rate and, if applicable, exclusive of any Excess Interest) during the one-month accrual period applicable to the Due Date for such Mortgage Loan that occurs in the same month as that Distribution Date. However, with respect to each Mortgage Loan that accrues interest on an Actual/360 Basis, when determining: (i) the related Net Mortgage Pass-Through Rate for the Distribution Date in January (except during a leap year) or February of any year subsequent to 2017 (in any event unless that Distribution Date is the final Distribution Date), the “aggregate amount of interest actually accrued (or, in the event of a voluntary or involuntary principal prepayment affecting same, that otherwise would have accrued)”, as referred to in clause (b) of the preceding sentence, shall be deemed to exclude related Withheld Amounts to be transferred to the Interest Reserve Account in such month; or (ii) the related Net Mortgage Pass-Through Rate for the Distribution Date in March (or in February if the final Distribution Date occurs in such particular month of February) in any year subsequent to 2017, the “aggregate amount of interest actually accrued (or, in the event of a voluntary or involuntary principal prepayment affecting same, that otherwise would have accrued)”, as referred to in clause (b) of the preceding sentence, shall be deemed to include related Withheld Amounts to be deposited in the Lower-Tier REMIC Distribution Account for distribution on such Distribution Date. In addition, the Net Mortgage Pass-Through Rate with respect to any Mortgage Loan for any Distribution Date shall be determined without regard to: (i) any modification, waiver or amendment of the terms of such Mortgage Loan, whether agreed to by the Master Servicer, the Special Servicer, an Outside Servicer or an Outside Special Servicer or resulting from a bankruptcy, insolvency or similar proceeding involving the related borrower; (ii) the occurrence and continuation of a default under such Mortgage Loan; (iii) the passage of the related maturity date or, in the case of an ARD Mortgage Loan, the related Anticipated Repayment Date; and (iv) the related Mortgaged Property becoming an REO Property.

  • Mortgage Amendments as defined in Section 6.11(a).

  • Lender-Paid Mortgage Insurance Rate With respect to any Lender-Paid Mortgage Insurance Loan, a per annum rate equal to the percentage indicated on the Mortgage Loan Schedule under the heading "Lender-Paid Mortgage Insurance Rate."

  • Pool 1 Mortgage Loans Any Mortgage Loan in Pool 1.

  • Subordinate Bonds means all Bonds but Senior Bonds.

  • Replacement Mortgage Loan A Mortgage Loan or Mortgage Loans in the aggregate substituted by the Seller for a Deleted Mortgage Loan, which must, on the date of such substitution, as confirmed in a Request for Release, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not less than 90% of, the Stated Principal Balance of the Deleted Mortgage Loan; (ii) if the Replacement Mortgage Loan is a fixed rate Mortgage Loan, have a fixed Mortgage Rate not less than or more than 1% per annum higher than the Mortgage Rate of the Deleted Mortgage Loan; (iii) have the same or higher credit quality characteristics than that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (v) have a remaining term to maturity no greater than (and not more than one year less than) that of the Deleted Mortgage Loan; (vi) not permit conversion of the Mortgage Rate from a fixed rate to a variable rate; (vii) have the same lien priority as the Deleted Mortgage Loan; (viii) constitute the same occupancy type as the Deleted Mortgage Loan or be owner occupied; (ix) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Maximum Mortgage Rate not less than the Maximum Mortgage Rate on the Deleted Mortgage Loan, (x) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Minimum Mortgage Rate not less than the Minimum Mortgage Rate of the Deleted Mortgage Loan, (xi) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Gross Margin equal to or greater than the Gross Margin of the Deleted Mortgage Loan, (xii) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a next Adjustment Date not more than two months later than the next Adjustment Date on the Deleted Mortgage Loan, (xiii) comply with each representation and warranty set forth in Section 7 of the Mortgage Loan Purchase Agreement and (xiv) the Custodian has delivered a Final Certification noting no defects or exceptions.

  • Second Lien Mortgage Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Subsequent Mortgage Loans means, for purposes of this Agreement, the Subsequent Mortgage Loans listed in the Subsequent Mortgage Loan Schedule attached hereto as Schedule I.

  • Minimum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased on any Adjustment Date.