Universal Cap definition

Universal Cap means the Value of all outstanding Bonds.
Universal Cap means, on any date, either (i) the present value of the Obligations determined by taking into account all unconditionally payable payments of principal, interest and fees for a Qualified Guarantee to be paid on or after that date, using the yield on the Obligations as the discount rate, or (ii) in the case of any Obligations which are Plain Par Bonds, the outstanding stated principal amount of such Obligations, plus accrued unpaid interest.
Universal Cap means the value of all then outstanding Series 2011A Certificates.

Examples of Universal Cap in a sentence

  • To the extent that the Value of the Nonpurpose Investments allocable to the Gross Proceeds of an issue exceed the Value of all outstanding bonds of that issue, an issuer should seek the advice of Bond Counsel for the procedures necessary to comply with the Universal Cap.

  • Amounts cease to be allocated to an issue as Proceeds only when those amounts (i) are allocated to an expenditure for a governmental purpose; (ii) are allocated to Transferred Proceeds of another issue of obligations; or (iii) cease to be allocated to that issue at retirement of the issue or under the Universal Cap.

  • The Universal Cap provides an overall limitation on the amount of Gross Proceeds allocable to an issue.

  • Gross Proceeds will be allocated to the Obligations as Proceeds until those amounts are properly allocated to an expenditure for a governmental purpose or are allocated to Transferred Proceeds of another issue, or cease to be allocated to the Obligations under the Universal Cap.

  • EXHIBIT A-QUESTIONS- Tax Arbitrage Rebate, Loan Yield and Universal Cap Analysis Provider RFP PAGE 2 OF 3Your proposal should indicate all fees and expenses that your firm would charge the Authority for providing an arbitrage rebate, loan yield and universal cap analysis regarding each of the bond issues cited above and the three year cost structure for the engagement.


More Definitions of Universal Cap

Universal Cap means the value of all then outstanding Series 2009 Certificates.
Universal Cap means the Value of all outstanding Series 2016 Bonds.
Universal Cap means the Value of all outstanding Series 2017 Bonds.
Universal Cap means the value of all then outstanding Series 2008 Certificates.
Universal Cap means the value of all the outstanding Note.
Universal Cap means the value of all then outstanding Series 2016A Certificates.
Universal Cap means the value of all then outstanding Series 2014A Certificates.