Substitute Escrowed Securities definition

Substitute Escrowed Securities means non-callable direct obligations of the United States of America, which have been acquired by the Escrow Agent and substituted for Escrowed Securities in accordance with Section 8 of this Agreement.
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Substitute Escrowed Securities means non-callable direct obligations of the United States of America which have been acquired by the Escrow Agent and substituted for Escrowed Securities in accordance with Section 8 hereof.
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Substitute Escrowed Securities means Defeasance Obligations that have been acquired by the Escrow Agent and substituted for Escrowed Securities in accordance with Section 8 of this Escrow Agreement.
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Examples of Substitute Escrowed Securities in a sentence

  • The Escrow Agent shall purchase such Substitute Escrowed Securities with the proceeds derived from the sale, transfer, disposition or redemption of the Escrowed Securities together with any other funds available for such purpose.

  • At the written request of the City and upon compliance with the conditions hereinafter stated, the Escrow Agent shall have the power to sell, transfer, request the redemption of or otherwise dispose of the Escrowed Securities and to substitute for the Escrowed Securities solely cash or Substitute Escrowed Securities.

  • If the original Escrowed Securities become available and are tendered to the Escrow Agent, the Escrow Agent shall accept such Escrowed Securities, shall return the Substitute Escrowed Securities and shall notify Special Counsel and the City of the transaction.

  • The Escrow Agent shall purchase such Substitute Escrowed Securities with the proceeds derived from any such sale, transfer, disposition or redemption of the Escrowed Securities together with any other funds available for such purpose.

  • The Escrow Trustee shall purchase such Substitute Escrowed Securities with the proceeds derived from the sale, transfer, disposition or redemption of the original Escrowed Securities, together with any other funds available for such purpose.

  • The sale, transfer, disposition or redemption of the original Escrowed Securities, and the purchase of the Substitute Escrowed Securities, occur simultaneously.


More Definitions of Substitute Escrowed Securities

Substitute Escrowed Securities means non-callable direct obligations of the United States of America, evidences of a direct ownership interest in the interest component of obligations of the Resolution Funding Corporation or non-prepayable securities fully and unconditionally guaranteed as to the timely payment of principal and interest by the United States of America, provided, that the full faith and credit of the United States of America has been pledged to any such direct obligation or guarantee, which has been acquired by the Escrow Agent and substituted for Escrowed Securities in accordance with Section 6 of this Agreement; provided, however, Substitute Escrowed Securities do not include money market mutual funds that invest in the obligations described in this definition.
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Substitute Escrowed Securities means securities that satisfy the requirement of Defeasance Obligations as set forth in the Refunded Bonds Resolution, which have been acquired by the Escrow Agent and substituted for Escrowed Securities in accordance with the Escrow Agreement.
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Substitute Escrowed Securities means non-callable direct obligations of the United States of America, which have been acquired by the Escrow Agent and substituted for Escrowed Securities in accordance with Section 8 of this Agreement. 2. Receipt of Documents. The Escrow Agent hereby acknowledges receipt of true and correct copies of the Series 2021 Bond Ordinance and the Refunded Bonds Ordinance, and reference herein to or citation herein of any provisions of said documents shall be deemed to incorporate the same as a part hereof in the same manner and with the same effect as if such provisions were fully set forth herein.
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Substitute Escrowed Securities means non-callable direct obligations of the United States of America, which have been acquired by the Escrow Agent and substituted for Escrowed Securities in accordance with Section 8 of this Agreement. 2. Receipt of Documents. The Escrow Agent hereby acknowledges receipt of true and correct copies of the Series 2021 Bond Ordinance, the Refunded Declaration of Trust and the Refunded Lease, and reference herein to or citation herein of any provisions of said documents shall be deemed to incorporate the same as a part hereof in the same manner and with the same effect as if such provisions were fully set forth herein. 3. Creation of Escrow Fund. There is hereby created and established with the Escrow Agent the following special and irrevocable separate trust fund to be held in the custody of the Escrow Agent and designated as the “Escrow Fund for Tax-Exempt Refunding Certificates of Participation, Series 2014A” (the “Escrow Fund”). [**4. Verification of Certified Public Accountants. Robert Thomas CPA, LLC, Shawnee Mission, Kansas, Certified Public Accountants, have verified the mathematical computations performed by Piper Sandler & Co., the Underwriter of the Series 2021 Bonds, which demonstrate that the cash held in the Escrow Fund, together with the maturing Escrowed Securities and interest to accrue thereon, will be sufficient to (a) pay on April 1, 2021, the principal portion and accrued interest portion of basic rent represented by the Refunded Certificates scheduled to become due and payable on April 1, 2021, and (b) prepay on the Prepayment Date (April 1, 2021), of the remaining principal portion of the basic rent payments represented by the Refunded Certificates scheduled to become due and payable on April 1, 2022, and thereafter, and the accrued interest portion of basic rent payments attributable thereto. A copy of the verification report has been delivered to the City, the Refunded Certificates Trustee and the Escrow Agent concurrently with the execution and delivery of this Agreement.**] 5. Deposits to the Escrow Fund. Concurrently with the execution and delivery of this Agreement, and pursuant to the provisions of the Resolution, the Escrow Agent acknowledges receipt and deposit into the Escrow Fund of (a) $[ ] from the proceeds of the Series 2021 Bonds and(b) $[ ] from moneys on deposit in the reserve fund for the Refunded Certificates (aggregating $[ ] in total). The Escrow Agent shall apply such amount as follows:
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Substitute Escrowed Securities means securities that satisfy the requirement of Defeasance Obligations as set forth in the Series 2006 Bond Ordinance, which have been acquired by the Escrow Agent and substituted for Escrowed Securities in accordance with Section 8 of this Agreement.
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Related to Substitute Escrowed Securities

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

  • Purchaser Securities means the Purchaser Shares, Purchaser Rights, Purchaser Units, Purchaser Warrants, collectively.

  • Escrowed Shares has the meaning set forth in Section 2.4.

  • Approved Securities means securities of any State Government or of the Central Government and such bonds, both the principal whereof and the interest whereon shall have been fully and unconditionally guaranteed by any such Government;

  • Released Securities means Shares of Restricted Stock with respect to which all applicable restrictions have expired, lapsed, or been waived.

  • Permitted Securities means any of the following:

  • Additional Purchased Securities Securities provided by Seller to Buyer pursuant to Paragraph 4(a) hereof;

  • CHESS Approved Securities means securities of the Company for which CHESS approval has been given in accordance with the ASX Settlement Operating Rules;

  • Consideration Shares shall have the meaning set forth in Section 2.7(c).

  • Purchased Securities has the meaning assigned in the Terms;

  • Purchaser Shares means the common shares in the capital of the Purchaser.

  • Excluded Securities means, provided such security is issued at a price which is greater than or equal to the arithmetic average of the Closing Bid Prices of the Common Stock for the ten (10) consecutive trading days immediately preceding the date of issuance, any of the following: (a) any issuance by the Company of securities in connection with a strategic partnership or a joint venture (the primary purpose of which is not to raise equity capital), (b) any issuance by the Company of securities as consideration for a merger or consolidation or the acquisition of a business, product, license, or other assets of another person or entity and (c) options to purchase shares of Common Stock, provided (I) such options are issued after the date of this Warrant to employees of the Company within thirty (30) days of such employee's starting his employment with the Company, and (II) the exercise price of such options is not less than the Closing Bid Price of the Common Stock on the date of issuance of such option.

  • Buyer Shares means the common stock, with a par value of $0.0001 per share, of Buyer.

  • Acquisition Shares means the shares of an Acquiring Fund to be issued to the corresponding Target Fund in a reorganization under this Agreement.

  • Subsidiary Securities collectively, the (i) investments, including Loans, acquired by a Subsidiary and delivered to the Custodian from time to time during the term of, and pursuant to the terms of, this Agreement and (ii) all dividends in kind (e.g., non-cash dividends) from the investments described in clause (i).

  • Settlement Shares With respect to any Settlement Date, a number of Shares, not to exceed the Base Amount, designated as such by Party B in the related Settlement Notice or by Party A pursuant to “Termination Settlement” below; provided that on the Maturity Date the number of Settlement Shares shall be equal to the Base Amount on such date.

  • Buyer Stock means the common stock, par value $0.001 per share, of Buyer.

  • Company Shares has the meaning set forth in the Recitals.

  • Related Securities means any options or warrants or other rights to acquire Shares or any securities exchangeable or exercisable for or convertible into Shares, or to acquire other securities or rights ultimately exchangeable or exercisable for or convertible into Shares.

  • Purchased Units means, with respect to a particular Purchaser, the number of Common Units equal to the aggregate Purchase Price set forth opposite such Purchaser’s name under the column titled “Purchase Price” set forth on Schedule A hereto divided by the Common Unit Price.

  • Seller Shares means all shares of Common Stock of the Company owned as of the date hereof or hereafter acquired by a Common Holder, as adjusted for any stock splits, stock dividends, combinations, subdivisions, recapitalizations and the like.

  • Specified Securities means ‘equity shares’ and ‘convertible securities’ as defined under clause (zj) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009;

  • Closing Shares shall have the meaning ascribed to such term in Section 2.1(a)(i).

  • Exempted Securities means:

  • Cash Election Shares shall have the meaning set forth in Section 3.2.1.

  • Private Placement Transaction means a “limited offering” as defined from time to time in Rule 17j-l under the 1940 Act or any applicable successor provision. Currently, this means an offering exempt from registration under the Securities Act of 1933 pursuant to Section 4(2) or 4(6) or Rule 504, 505 or 506 under that Act, including hedge funds.