Subordinate Bond Fund definition

Subordinate Bond Fund means the Subordinate Bond Fund established by the Trustee pursuant to Section 4.01 hereof.
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Subordinate Bond Fund means the Subordinate Bond Fund established by Section 3.02 hereof for the purpose of paying the principal of, premium if any, and interest on the Bonds.
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Subordinate Bond Fund means the Subordinate Bond Fund established in Section 5.01.
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Examples of Subordinate Bond Fund in a sentence

  • Moneys in the Subordinate Bond Fund shall be used by the Trustee solely to pay the principal of, premium if any, and interest on the Bonds.

  • Upon the receipt by the Trustee of a notice from the Authority determining that all costs of issuance have been paid, any balance remaining in the Costs of Issuance Fund shall be credited to the Subordinate Bond Fund.

  • The Trustee shall credit all Subordinate Pledged Revenue as received in the following order of priority (excluding the Subordinate Pledged Revenue described in clause (b) of the definition thereof, which is to be deposited directly to the Subordinate Bond Fund).

  • Moneys in any account of the Subordinate Bond Fund relating to particular Subordinate Indebtedness shall only secure such Subordinate Indebtedness.

  • In accordance with the provisions of Section 10.02 hereof, in the event that amounts on deposit in the Current Expense Fund are transferred to pay a termination payment or to fund a deficiency in the Senior Bond Fund, the Senior Subordinate Bond Fund or the Subordinate Bond Fund, the Trustee shall provide notice of such transfer to the Consulting Engineer, any other Consultants identified by the Authority, if any, and to Government Development Bank for Puerto Rico.

  • It is agreed by the parties hereto that any amounts remaining in the Subordinate Bond Fund or other funds and accounts established under the Subordinate Indenture upon expiration or sooner termination of the term hereof, shall be paid in accordance with the Subordinate Indenture.

  • Moneys in any account of the Senior Subordinate Bond Fund relating to particular Senior Subordinate Indebtedness shall only secure such Senior Subordinate Indebtedness.

  • Such payment may be made out of any legally available fund of the Board, but the Board may not be compelled to pay such fees and expenses except from the Subordinate Bond Fund or from the proceeds of any Series of Subordinate Bonds on deposit in a Fund or Account created for such Series, but only if such fees and expenses constitute Costs payable from the proceeds of such Series under the applicable Subordinate Series Resolution.

  • All amounts remaining in the Subordinate Project Fund after the Completion Date and after payment of the Project Costs then due and payable shall be transferred in the following order of priority: (A) to the Rebate Fund from amounts on deposit in the Subordinate Project Fund, if necessary to enable the District to comply with the covenants referred to in Section 6.02(c) hereof, and (B) to the Subordinate Bond Fund to the extent of any remaining balance of such moneys.

  • Whenever there is a deficiency in the Subordinate Bond Fund for the payment of Principal and Interest Requirements for Subordinate Bonds for which a Reserve Requirement has been designated, funds available in the appropriate Account of the Subordinate Bond Reserve Fund shall be used by the Board for the payment of Principal and Interest Requirements on such Subordinate Bonds.


More Definitions of Subordinate Bond Fund

Subordinate Bond Fund has the meaning set forth in the General Subordinate Bond Ordinance.
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Subordinate Bond Fund means the special and separate Fund designated as the Kenton County Airport Board Subordinate Bond Fund created pursuant to Section 6.01 of the Senior General Bond Resolution.
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Related to Subordinate Bond Fund

  • Subordinate Bonds means all Bonds but Senior Bonds.

  • Subordinate Optimal Principal Amount For any Distribution Date and any Loan Group, the sum for each Mortgage Loan in such Loan Group of (i) the Subordinate Percentage of (a) the principal portion of each Scheduled Payment (without giving effect, prior to the Bankruptcy Coverage Termination Date, to any reductions thereof caused by any Debt Service Reductions or Deficient Valuations) due on each such Mortgage Loan on the related Due Date, (b) the principal portion of the Purchase Price of each such Mortgage Loan to the extent it was repurchased by the Transferor pursuant to this Agreement as of such Distribution Date, (c) the Substitution Adjustment Amount in connection with any Deleted Mortgage Loan related to such Loan Group received with respect to such Distribution Date, (d) any Liquidation Proceeds (including Insurance Proceeds) allocable to recoveries of principal of Mortgage Loans related to such Loan Group that are not yet Liquidated Loans, received during the calendar month preceding the month of such Distribution Date, (ii) with respect to each Mortgage Loan in such Loan Group that became a Liquidated Loan during the calendar month preceding the month of such Distribution Date, the portion of the amount of the Liquidation Proceeds allocable to principal received with respect to such Mortgage Loan that was not included in clause (ii) of the definition of "Senior Optimal Principal Amount" for such Distribution Date, (iii) the Subordinate Prepayment Percentage of the sum of (a) all Principal Prepayments in Full of Mortgage Loans in such Loan Group received during the related Prepayment Period and (b) all partial Principal Prepayments of Mortgage Loans in such Loan Group and applied during the related Prepayment Period and (iv) with respect to any Distribution Date prior to the Cross-Over Date only, the Subordinate Prepayment Percentage related to such Group of the Recoveries received during the related Prepayment Period; provided, however, that if a Bankruptcy Loss that is an Excess Loss is sustained with respect to a Mortgage Loan in such Loan Group that is not a Liquidated Loan, the Subordinate Optimal Principal Amount will be reduced on the related Distribution Date by the Subordinate Percentage of the principal portion of such Bankruptcy Loss.

  • Subordinate Notes means the B Notes and the C Notes, individually or collectively, as the context may require.

  • Subordinate Note means each B Note.

  • Subordinated Loan has the meaning set forth in Section 1.2(a) of the Agreement.

  • Excess Subordinate Principal Amount With respect to any Distribution Date on which the aggregate Certificate Principal Balance of the Class of Subordinate Certificates then outstanding with the Lowest Priority is to be reduced to zero and on which Realized Losses are to be allocated to such class or classes, the excess, if any, of (i) the amount that would otherwise be distributable in respect of principal on such class or classes of Certificates on such Distribution Date over (ii) the excess, if any, of the aggregate Certificate Principal Balance of such class or classes of Certificates immediately prior to such Distribution Date over the aggregate amount of Realized Losses to be allocated to such classes of Certificates on such Distribution Date as reduced by any amount calculated pursuant to Section 4.02(b)(i)(E). With respect to any Mortgage Pool that is comprised of two or more Loan Groups, the Excess Subordinate Principal Amount will be allocated between each Loan Group on a pro rata basis in accordance with the amount of Realized Losses attributable to each Loan Group and allocated to the Certificates on such Distribution Date.

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

  • Subordinate Companion Loan A Companion Loan that, to the extent provided in the related Loan Documents and/or the related Co-Lender Agreement, is generally subordinate in right of payment to the related Split Mortgage Loan. The only Subordinate Companion Loans related to the Trust as of the Closing Date are evidenced by the Notes identified in the Loan Combination Table under the column heading “Subordinate Companion Loan(s),” each of which Notes evidences a separate Subordinate Companion Loan.

  • Original Subordinate Principal Balance The sum of the aggregate Current Principal Amounts of each Class of Subordinate Certificates as of the Closing Date.

  • Subordinate Obligations means, collectively, the Subordinate Notes and any Other Subordinate Obligations.

  • Senior Subordinate Certificates The Class B1, Class B2 and Class B3 Certificates.

  • Subordinate Principal Prepayments Distribution Amount For any Distribution Date, the Subordinate Prepayment Percentage of the Principal Prepayment Amount.

  • Subordinate Liquidation Amount For any Distribution Date and each Loan Group, the excess, if any, of the aggregate Liquidation Principal of Mortgage Loans related to that Loan Group which became Liquidated Mortgage Loans during the prior calendar month over the related Senior Liquidation Amount for that Distribution Date.

  • Junior Subordinate Certificates The Class B-4, Class B-5 and Class B-6 Certificates.

  • Subordinated Loans means any loan incurred by the Issuer or any of its Subsidiaries, if such loan (i) according to its terms (or pursuant to a subordination agreement on terms and conditions satisfactory to the Trustee) is subordinated to the obligations of the Issuer under the Terms and Conditions; (ii) according to its terms have a final redemption date or, when applicable, early redemption dates or instalment dates which occur after the Final Redemption Date; and (iii) according to its terms yield only payment-in-kind interest.

  • Subordinate Percentage As of any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, any Loan Group, 100% minus the related Senior Percentage as of such Distribution Date.

  • Subordinate Prepayment Percentage As to any Distribution Date, 100% minus the Senior Prepayment Percentage for such Distribution Date.

  • Original Subordinated Principal Balance The aggregate of the Class Certificate Balances of the Subordinated Certificates as of the Closing Date.

  • Subordinate Debt means indebtedness secured hereby or by any Supplemental Indenture which is by its terms expressly subordinate and inferior hereto both in lien and right of payment.

  • Senior Subordinated Debt means the Securities and any other Indebtedness of the Company that specifically provides that it is to rank pari passu with other Senior Subordinated Debt of the Company and is not subordinated to any Indebtedness of the Company that is not Senior Debt.

  • Senior Subordinated Indebtedness means the Securities and any other Indebtedness of the Company that specifically provides that such Indebtedness is to rank pari passu with the Securities in right of payment and is not subordinated by its terms in right of payment to any Indebtedness or other obligation of the Company which is not Senior Indebtedness.

  • Principal Debt means, at any time, the unpaid principal balance of all Borrowings.

  • Initial Subordinate Class Percentage As defined in the Series Supplement.

  • Group II Subordinate Percentage For any Distribution Date, the excess of 100% over the Group II Senior Percentage for such date.

  • Subordinate Lender means the person or entity named as such in the first paragraph of this Agreement and any other person or entity who becomes the legal holder of the Subordinate Note after the date of this Agreement.

  • Encumbered Required Subordinated Amount of Class D Notes means, for the Class C( - ) Notes, an amount equal to the product of