Spendable Proceeds definition

Spendable Proceeds means the Net Sale Proceeds of an issue.
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Spendable Proceeds means net sale proceeds (as defined in § 1.148–1).
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Spendable Proceeds means net sale
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Examples of Spendable Proceeds in a sentence

  • The Issuer and the Borrower each represents that at least 85% of the Spendable Proceeds will be used to carry out the governmental purposes thereof within three years from the Issuance Date.

  • As described in sections B and C of paragraph 3, at least 85 percent of the Spendable Proceeds of the Note (other than such Spendable Proceeds to be used to pay Debt Service on another issue) will be used to carry out the governmental purposes of the Note within three years from the Issue Date of the Note.


More Definitions of Spendable Proceeds

Spendable Proceeds means the proceeds from the sale of the Bonds, less amounts used to redeem the Refunded Bonds, plus transferred proceeds of the Refunded Bonds, plus earnings from investment of the foregoing.
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Spendable Proceeds means the proceeds from the sale of the Bonds, less amounts used to redeem the Short-Term Taxable Bonds, plus transferred proceeds of the Short-Term Taxable Bonds, plus earnings from investment of the foregoing. There shall also be transferred to the Bond Fund from the Construction Fund any moneys remaining on deposit in the Construction Fund at such time as the principal of all Outstanding Bonds shall have become due and payable in accordance with the provisions of Section 6.2 of the Agreement.
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Related to Spendable Proceeds

  • Sale Proceeds All proceeds (excluding accrued interest, if any) received with respect to Assets as a result of sales of such Assets in accordance with the restrictions described in Article XII less any reasonable expenses incurred by the Collateral Manager, the Collateral Administrator or the Trustee (other than amounts payable as Administrative Expenses) in connection with such sales. Sale Proceeds will include Principal Financed Accrued Interest received in respect of such sale.

  • Net Sale Proceeds means, with respect to any Asset Sale (including, without limitation, any cash or Cash Equivalents received upon the sale or other disposition of any Designated Non-cash Consideration received in any Asset Sale), an amount in cash equal to the gross cash proceeds (including any cash received by way of deferred payment pursuant to a promissory note, receivable or otherwise, but only as and when received) received from such Asset Sale, net of (i) costs of, and expenses associated with, such Asset Sale (including fees and commissions), (ii) any taxes paid or payable as a result of such Asset Sale (including Borrower’s good faith estimate of any incremental income taxes that will be payable as a result of such Asset Sale, including pursuant to tax sharing arrangements or any tax distributions), (iii) payments of unassumed liabilities relating to the assets sold and required payments of any Indebtedness or other obligations (other than the Loans and Indebtedness secured on a pari passu or junior basis to the Loans) which are secured by the assets which were sold or would be in default under the terms thereof as a result of such Asset Sale, (iv) amounts provided as a reserve in accordance with U.S. GAAP against any liabilities under any indemnification obligation or purchase price adjustment associated with such Asset Sale (provided that to the extent and at the time any such amounts are released from such reserve to Borrower or any of its Restricted Subsidiaries, such amounts shall constitute Net Sale Proceeds), (v) cash escrows from the sale price for such Asset Sale (provided that to the extent and at the time any such amounts are released from escrow to Borrower or any of its Restricted Subsidiaries, such amounts shall constitute Net Sale Proceeds) and (vi) to the extent such Asset Sale involves any disposition of Investments made after the Closing Date, the permissibility of which was contingent upon the utilization of the Available Amount, the portion of the Available Amount so utilized in connection with such initial Investment.

  • Noncash proceeds means proceeds other than cash proceeds.