Demand Obligation definition

Demand Obligation has the meaning set forth in the Trust Agreement.
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Demand Obligation means any Senior Lien Obligation the principal of which is payable by the Authority on demand of the owner or holder thereof.
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Demand Obligation means Indebtedness that has a stated maturity of 365 days or more after the date of incurrence and is payable or required to be purchased or redeemed at the option of the thereof or upon the occurrence of events specified in the underlying legal documents (other than upon mandatory tender in connection with the conversion of such Indebtedness to another interest rate mode or the replacement of a credit or liquidity provider) prior to its stated maturity date and any other obligation of an Obligated Group Member to pay or purchase securities or obligations of another person or entity upon demand of the holder thereof.
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Examples of Demand Obligation in a sentence

  • Description of Moody’s Demand Obligation Ratings In the case of variable rate demand obligations (“VRDOs”), a two-component rating is assigned: a long or short-term debt rating and a demand obligation rating.

  • On June 18, 2008 the Bank exercised its option to convert the interest rate mode from the Auction Rate mode to a Variable Rate Demand Obligation mode for the Series 2003B Bonds.

  • Pension Obligation Bonds (POB’s) In 2002, the city refinanced its unfunded pension liability with the Maine State Retirement system through Variable Rate Demand Obligation (VRDO) financing.

  • Description of Moody’s Demand Obligation Ratings In the case of variable rate demand obligations (“VRDOs”), a two-component rating is assigned.

  • The County shall use the proceeds of the Notes only to repay the County’s outstanding Xxxxxx Plan Obligations Commercial Paper Notes, Series A, the Notes or to refund a Demand Obligation evidencing the County's obligation to make distributions to the participating taxing agencies under the Related Lien or to pay costs of issuance of the Notes.

  • The bonds were converted from R-Floats, a form of auction rate bonds, to Variable Rate Demand Obligation bonds.Single Family Mortgage Revenue bonds, 2007 Series C (non-AMT) for $1,000,000, 2007 Series D (AMT) for $20,000,000, Series E (Federally Taxable) for $13,000,000, and Series F (AMT) for$10,000,000 were issued in October 2007 to refund outstanding bonds and provide funds to make or purchase qualified mortgage loans.

  • Refer to Auction Rate Securities and Variable Rate Demand Obligation Exposures below for further discussion.

  • Pursuant to Section 3.03 and 3.04 of the Master Trust Agreement, the County is issuing $ aggregate principal amount of the Series B Notes on the Original Date of Issuance, of which $ shall be deposited in the Refunding Fund (which fund is hereby established with the Trustee) and applied to refund the outstanding Series B Notes, $ shall be applied to refund a Demand Obligation and $ shall be deposited in the Costs of Issuance Fund and applied to pay Initial Costs of Issuance.

  • Single Family Mortgage Revenue Bonds, 2008 Series A (non- AMT) for $13,205,000, 2008 Series B (AMT) for $3,900,000, 2008 Series C (AMT) for $8,450,000and 2008 Series D (Federally taxable) for $17,200,000 were issued in June 2008.The Commission remarketed $16,890,000 of Single Family Mortgage Revenue Bonds 2002 Series C (non-AMT) as Variable Rate Demand Obligation bonds in December 2007 and replaced the liquidity facility meeting the requirements of the Series Resolution.

  • The proceeds of the Notes will be used to [repay the County’s outstanding Xxxxxx Plan Obligations Commercial Paper Notes, Series B, to refund a Demand Obligation evidencing the County's obligation to make distributions to the participating taxing agencies under the Related Law and to pay costs of issuance of the Notes].

Related to Demand Obligation

  • Credit Improved Obligation means any Collateral Debt Obligation which, in the Investment Manager’s judgment, has significantly improved in credit quality and in respect of which one of the following is satisfied:

  • Defaulting Lender means any Lender with respect to which a Lender Default is in effect.

  • Commitment means, as to each Lender, its obligation to (a) make Committed Loans to the Borrower pursuant to Section 2.01, (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Revolving Commitment means, as to each Lender, its obligation to (a) make Revolving Loans to the Borrower pursuant to Section 2.01, (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • L/C Obligations means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

  • Eligible Assignee means any Person that meets the requirements to be an assignee under Section 10.06(b)(iii) and (v) (subject to such consents, if any, as may be required under Section 10.06(b)(iii)).

  • Revolving Commitment Amount means, as to any Lender, the Revolving Commitment amount (if any) set forth opposite such Lender’s name on Schedule 1.1 hereto (or, in the case of any Lender that became party to this Agreement after the Closing Date pursuant to Section 16.3(c) or (d) hereof, the Revolving Commitment amount (if any) of such Lender as set forth in the applicable Commitment Transfer Supplement).