Utility Bonds definition

Utility Bonds means, initially, corporate debt obligations issued by state regulated public utility companies rated from BBB- to AAA by S&P and from Baa3 to Aaa by Moody's, which corporate debt obligations (a) provide for the periodic payment of interest thereon in cash in U.S. dollars, (b) do not provide for conversion or exchange into equity capital at any time over their respective lives, (c) have been registered under the Securities Act of 1933, as amended, and (d) have not had notice given in respect thereof that any such corporate debt obligations are the subject of an offer by the issuer thereof of exchange or tender for cash, securities or any other type of consideration. In addition, so long as the shares of RP are rate by S&P or Moody's, no corporate debt obligation held by the Corporation shall be deemed a Utility Bond (i) if it fails to meet the criteria in column (1) below or (ii) to the extent (but only to the proportionate extent) the acquisition or holding thereof by the Corporation causes the Corporation to exceed any applicable limitation set forth in column (2) below in the event the shares of RP are rated by S&P or column (2), (3) or (4) below in the event the shares to RP are rated by Moody's as of any relevant date of determination (provided that, in the event that the Corporation shall exceed any such limitation, the Corporation shall designate, in its sole discretion, the particular Utility Bond(s) and/or portions thereof which shall be deemed to have caused the Corporation to exceed such limitation):
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Utility Bonds means any bonds issued by the Authority pursuant to Act 392, Act 100 and the Amended and Restated Trust Agreement and secured by a pledge of Utility Taxes.
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Utility Bonds or “Bonds” means any bond issued by the District secured by a lien on the ad valorem taxes levied by the District pursuant to Article XVI, Section 59 of the Texas Constitution and a lien on a pro rata portion of the Available TIRZ Utility Revenues, but only to the extent such Utility Bonds remain Outstanding.
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Examples of Utility Bonds in a sentence

  • The rate will be determined annually in advance of the calendar year and will be equal to the average monthly Moody’s Corporate Bond Yield for Baa Public Utility Bonds for the 60 months preceding November 1st of the prior year.

  • With respect to the calculation of the Discounted Value of any Utility Bond included in the Corporation's Eligible Portfolio Property, such calculation shall be made using the criteria set forth in the definitions of Utility Bonds and Market Value.

  • Effective with calendar year 2015, the rate will be determined annually in advance of the calendar year and will be equal to the average monthly Moody’s Corporate Bond Yield for Baa Public Utility Bonds for the 60 months preceding September 1st of the prior year.

  • Unpaid balance subject to installment payments will be credited with interest each month equal to one-twelfth of the average annual yield on Public Utility Bonds as reported by Xxxxx’x Investors Service and published in the issue of “Moody’s Public Utility” that is published closest to the 15th day of the applicable month.

  • The execution and delivery by the Mayor of the City of the Term Sheet of Utility Bonds is hereby ratified, confirmed and approved.

  • The City hereby requests that the Authority approve the remarketing of the Utility Bonds and consider an appropriate resolution to allow the authorized officers of the Authority to execute and deliver any appropriate documentation in connection the remarketing of the Utility Bonds.

  • The annual reamortization of payments described in Section 4.01(c) will be determined using a monthly rate of interest that is one-twelfth of the average Moody's Corporate Bond Yield for Aa Public Utility Bonds for the twelve months preceding November 1st of the prior year.

  • Following the County’s reservation (through a WASD Stormwater Billing Agreement) of the proposed municipality’s pro-rata share of Stormwater Utility Bonds debt service due during any fiscal year, the balance of the Stormwater Utility Fees collected within the boundaries of the proposed municipality shall be remitted to the proposed municipality, unless such debt service is collected directly through an interlocal agreement or other County approved means.

  • The fee of Authority Swap Counsel is hereby fixed at a sum not to exceed $45,000.00, plus "out-of-pocket" expenses, said fee to be contingent upon the successful remarketing of the Utility Bonds and the continued integration and preservation of the Swap without penalty to the City .

  • The definitions of "Utility Bonds" and "Utility Stocks" set forth in the Articles Supplementary are hereby modified to delete the requirement that the issuers of such securities be "state regulated".


More Definitions of Utility Bonds

Utility Bonds means bonds (evidencing prepaid utility costs) posted by any Borrower to the utility company at any given Restaurant to ensure timely payments of utility fees and costs to such utility company.
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Utility Bonds means utility bonds required to be delivered by Mortgage Borrower to any utility company providing utility services to each respective Individual Property.
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Utility Bonds means any guarantees of charges and fees payable for telephone services, water, heat, steam, electric power, gas and other utilities.
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Related to Utility Bonds

  • Replacement Bonds means Bonds issued to the Beneficial Owners of the Bonds in accordance with Section 210 hereof.

  • Fidelity Bond A fidelity bond to be maintained by the Servicer pursuant to Section 4.12.

  • Surety Bonds means surety bonds obtained by the Borrower or any Restricted Subsidiary consistent with market practice and the indemnification or reimbursement obligations of the Borrower or such Restricted Subsidiary in connection therewith.

  • Parity Bonds means bonds payable from the revenues of the System other than the Bonds but issued on a parity and equality with the Bonds pursuant to the restrictive provisions of Section 11 of this Resolution;

  • Utility facility means any pipe, pipeline, duct, wire line, conduit, pole, tower, equipment or other structure used for one of the following:

  • Outstanding Parity Bonds means the Outstanding Series 2010B Bonds, Series 2011A Bonds, Series 2012A Bonds, Series 2014 Bonds, Series 2015 Bonds, Series 2016 Bonds, Series 2017 Bonds, and Series 2019A Bonds.

  • Utility pole means a pole that provides:

  • Utility Facilities means the plant, equipment and property, including but not limited to, the poles, pipes, mains, conduits, ducts, cables, fiber optic cables, circuits, wires, lines, plant and equipment located under, on or above the surface of the ground within the Public Ways of the City and used or to be used for the purpose of providing utility services or Telecommunications Services.

  • Utility Charges means water, sewer, electricity, gas and other utility charges, if any, applicable to the Real Property or the Leased Real Property;

  • Utility line means any item of public or private property which is buried or placed below ground

  • Security Bond means an amount payable by a tenant as security for the performance of his obligations under a residential tenancy agreement, including an amount referred to in section 29(1)(b)(ii);

  • Prior Bonds means the assessment bonds that are refunded in part or in whole by refunding assessment bonds.

  • Distribution Utility means the local electric distribution owner and operator providing electric distribution and interconnection services to Purchaser at the Premises;

  • Utility vehicle means a motor vehicle that is (i) designed for off-road use, (ii) powered by an

  • Previously Issued Bonds means all Bonds that have been issued by CFD No. 2001-1 prior to the date of prepayment.

  • Building, structure, facility, or installation means all of the pollutant-emitting activities which belong to the same industrial grouping, are located on one or more contiguous or adjacent properties, and are under the control of the same person (or persons under common control) except the activities of any vessel. Pollutant-emitting activities shall be considered as part of the same industrial grouping if they belong to the same major group (i.e., which have the same two-digit code) as described in the Standard Industrial Classification Manual, 1972, as amended by the 1977 Supplement (U.S. Government Printing Office stock numbers 4101-0066 and 003-005-00176-0, respectively).

  • Utility Installation means carpeting, window coverings, air lines, power panels, electrical distribution systems, lighting fixtures, space heaters, air conditioning, plumbing, and fencing. Lessor may require that Lessee remove any or all of said alterations, improvements, additions or Utility Installations at the expiration of the term, and restore the Premises to their prior condition. Lessor may require Lessee to provide Lessor, at Lessee's sole cost and expense, a lien and completion bond in an amount equal to one and one-half times the estimated cost of such improvements, to insure Lessor against any liability for mechanic's and materialmen's liens and to insure completion of the work. Should Lessee make any alterations, improvements, additions or Utility Installations without the prior approval of Lessor, Lessor may require that Lessee remove any or all of the same.

  • Bonds means any bonds (including refunding bonds), notes, interim certificates, certificates of indebtedness, debentures or other obligations.

  • Property Protection Advances shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement or Non-Lead Securitization Servicing Agreement, as applicable.

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

  • Water utility means a public utility as defined in

  • Surety Bond means a bond from a Bond company with a credit rating by AMBEST better than a “B”. The bonding company shall be certified to issue bonds in a state in which this Agreement is approved.

  • Nonrecoverable Property Protection Advance shall have the meaning assigned to the term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Utility Reservations means Seller’s interest in the right to receive immediately on and after Closing and continuously consume thereafter water service, sanitary and storm sewer service, electrical service, gas service and telephone service on and for the Land and Improvements in capacities that are adequate continuously to use and operate the Improvements for the purposes for which they were intended, including, but not limited to (i) any right to the present and future use of wastewater, drainage, water and other utility facilities to the extent such use benefits the Real Property, (ii) any reservations of or commitments covering any such use in the future, and (iii) any wastewater capacity reservations relating to the Real Property. Buyer shall be responsible for any requests or documents to transfer the Utility Reservations, at Buyer’s sole cost and expense.

  • Property Protection Advance shall have the meaning assigned to the term “Servicing Advance” in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Utility means the Project if the Project is or upon completion of construction of the Project, will be a facility which generates revenues from fees, charges or taxes associated with the use of the facility.