Escrowed Securities definition

Escrowed Securities means the direct, noncallable obligations of the United States of America, as described in the Escrow Agreement.

Escrowed Securities means the direct noncallable, not pre-payable United States Treasury obligations and obligations the due timely payment of which is unconditionally guaranteed by the United States of America described in the Report or cash or other direct obligations of the United States of America substituted therefor pursuant to Article IV of this Agreement.

Escrowed Securities means the noncallable Government Obligations described in Exhibit D attached to this Agreement, or cash or other noncallable obligations substituted therefor pursuant to Section 4.3 of this Agreement.

Examples of Escrowed Securities in a sentence

• Concurrently with the sale and delivery of the Refunding Obligations the Issuer shall deposit, or cause to be deposited, with the Escrow Agent, for deposit in the Escrow Fund, the funds and Escrowed Securities described in the Report for the refunding of the Refunded Obligations, and the Escrow Agent shall, upon the receipt thereof, acknowledge such receipt to the Issuer in writing.

• The liability of the Escrow Agent to transfer funds for the payment of the principal of and interest on the Refunded Obligations shall be limited to the proceeds of the Escrowed Securities and the cash balances from time to time on deposit in the Escrow Fund.

• The Escrowed Securities and other assets of the Escrow Fund shall always be maintained by the Escrow Agent as trust funds for the benefit of the owners of the Refunded Obligations; and a special account thereof shall at all times be maintained on the books of the Escrow Agent.

• Except as provided in Sections 3.02, 4.02 and 4.03 hereof, the Escrow Agent shall not have any power or duty to invest or reinvest any money held hereunder, or to make substitutions of the Escrowed Securities, or to sell, transfer or otherwise dispose of the Escrowed Securities.

• The Escrow Agent shall hold at all times the Escrow Fund, the Escrowed Securities and all other assets of the Escrow Fund, wholly segregated from all other funds and securities on deposit with the Escrow Agent; it shall never allow the Escrowed Securities or any other assets of the Escrow Fund to be commingled with any other funds or securities of the Escrow Agent; and it shall hold and dispose of the assets of the Escrow Fund only as set forth herein.

More Definitions of Escrowed Securities

Escrowed Securities means the securities that satisfy the requirement of Defeasance Obligations as set forth in the Refunded Bonds Resolution, as described in the Escrow Agreement.

Escrowed Securities means the direct, noncallable obligations of the United States of America, as described in the Escrow Instruction Letter.

Escrowed Securities means the obligations described in the Report or cash or other direct obligations of the United States of America substituted therefor pursuant to Article IV of this Agreement.

Escrowed Securities means the securities listed on Schedule 2 attached hereto and any Substitute Escrowed Securities.

Escrowed Securities has the meaning set forth in Section 4.01(b).

Escrowed Securities means the Phoenix Shares escrowed pursuant to Section 2.4 together with all Proceeds (as defined in the Escrow Agreement).

Escrowed Securities shall have the meaning provided in Section 9.05(ix).