Definition of Federal Securities. As used herein, the term “Federal Securities” means United States Treasury notes, bonds, bills or certificates of indebtedness, or any other obligations the timely payment of which is directly or indirectly guaranteed by the faith and credit of the United States of America.
Definition of Federal Securities. As used herein, the term “Federal Securities” has the meaning of the term “Defeasance Securities” in the 2004B Bonds Indenture and includes cash and U.S, Treasury Certificates, Notes and Bonds (including State and Local Government Series).
Definition of Federal Securities. As used herein, the term “Federal Securities” means any non-callable direct and general obligations of the United States of America, or obligations that are unconditionally guaranteed as to principal and interest by the United States of America, including (in the case of direct and general obligations of the United States of America) evidence of direct ownership or proportionate interests in future interest or principal payments of such obligations. Investments in such proportionate interest must be limited to circumstances wherein (a) a bank or trust company acts as custodian and holds the underlying United States Obligations; (b) the owner of the investment is the real party in interest and has the right to proceed directly and individually against the obligor of the underlying United States Obligations; and (c) the underlying United States obligations are held in a special account, segregated from the custodian’s general assets, and are not available to satisfy any claims of the custodian, any person claiming through the custodian, or any person to whom the custodian may be obligated; provided that such obligations are rated by Xxxxx’x Investors Service and Standard & Poor’s in the same category as the underlying United States Obligations (without regard to pluses or minuses within a category).
Definition of Federal Securities. Each of the terms “investments,” “reinvestments,” and “Federal Securities,” as used herein, means only bills, certificates of indebtedness, notes, bonds, or similar securities which are the direct obligations of, or obligations the interest on and/or the principal of which are unconditionally guaranteed by the United States of America.
