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

  • To the extent that the aggregate amount of Bonds of First Series and such additional Second Mortgage Bonds tendered pursuant to an Asset Sale Offer is less than the Excess Proceeds, the Company or its Regulated Subsidiaries may use any remaining Excess Proceeds for general corporate purposes.

  • 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.

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

  • 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.

  • The Indenture for the Second Mortgage Bonds will, through a supplemental indenture, secure the issue for which CVPS is seeking approval in this docket, and will allow for the issue of future replacement or additional Second Mortgage Bonds, provided necessary regulatory approvals are obtained.

  • If the aggregate principal amount of Bonds of First Series and such additional Second Mortgage Bonds surrendered by Holders thereof exceeds the amount of Excess Proceeds, the Trustee shall select the Bonds of First Series and additional Second Mortgage Bonds to be purchased on a pro rata basis.

  • The Borrower agrees to repay the Loan and pay the Additional Payments in accordance with the terms of the Second Mortgage Bonds, this Agreement and all other Financing Documents.

  • The Borrower shall use commercially reasonable efforts to cause, on or before June 30, 2005, a new series of Second Mortgage Bonds (in an aggregate principal amount not to exceed $138,300,000) to be issued under the Second Indenture and substituted for all of the outstanding First Mortgage Bonds that, on the date hereof, secure the Borrower's obligations in respect of the securities issued and outstanding under the Collateral Trust Indenture, pursuant to Section 318 of the Collateral Trust Indenture.

  • In connection therewith, the Lenders hereby consent to the issuance of such new series of Second Mortgage Bonds, and authorize the Administrative Agent (as holder of the Collateral Mortgage Bonds) to consent to the issuance of such new series of Second Mortgage Bonds pursuant Section 1(b)(2) of Article III of the Second Indenture.

  • This process will not change the principal, interest and other underlying terms of the Second Mortgage Bonds, and the Exchange Bonds are included under the term "Second Mortgage Bonds" for which the Company is seeking approval.


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 that “Aircraft Mortgage” as defined in Section 4.01(e), as the same may be amended, restated, modified, supplemented, extended or amended and restated 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.

  • Mortgage Amendments as defined in Section 4.19(b).

  • 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."

  • 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.

  • Series 2021 Bonds means, collectively, the Series 2021A Bonds and the Series 2021B Bonds.

  • 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.

  • Subsequent Mortgage Loan A Mortgage Loan sold by the Depositor to the Trust Fund pursuant to Section 2.08, such Mortgage Loan being identified on the Mortgage Loan Schedule attached to a Subsequent Transfer Instrument.