Guaranteed Investment Contracts Sample Clauses
Guaranteed Investment Contracts. The purchase price of a Guaranteed Investment Contract is treated as its fair market value on the purchase date if all of the following requirements are met:
Guaranteed Investment Contracts. If the investment is a guaranteed investment contract, the winning bid is the highest yielding bona fide bid (determined net of any broker's fees).
Guaranteed Investment Contracts. Trust investments in guaranteed investment contracts ("GICs") shall be subject to the following limitations:
Guaranteed Investment Contracts. The City is applying Regulations § 1.148- 5(d)(6)(iii)(A) (relating to electronic bidding of Guaranteed Investment Contracts) to the Certificates. The purchase price of a Guaranteed Investment Contract is treated as its fair market value on the purchase date if all of the following requirements are met:
Guaranteed Investment Contracts. Provides the district with a prospectus and other information required by the Securities and Exchange Act of 1934 (15 U.S.C. 78a et seq.) or the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.); and
Guaranteed Investment Contracts. A Guaranteed Investment Contract is a Nonpurpose Investment that has specifically negotiated withdrawal or reinvestment provisions and a specifically negotiated interest rate, and also includes any agreement to supply Investments on two or more future dates (e.g., a forward supply contract). The purchase price of a Guaranteed Investment Contract is treated as its Fair Market Value on the purchase date if:
Guaranteed Investment Contracts. The Issuer and the Borrower are applying Regulations § 1.148-5(d)(6)(iii)(A) as amended by the Proposed Regulations (relating to electronic bidding of Guaranteed Investment Contracts to the Bonds. The purchase price of a Guaranteed Investment Contract is treated as its fair market value on the purchase date if all of the following requirements are met:
Guaranteed Investment Contracts. In accordance with the Public Funds Investment Act or applicable laws, proceeds from the issuance of, or entering into, Obligations may be invested in one or more guaranteed investment contracts as authorized by law. In the event that the Corporation Representative determines that it would be in the best interests of the Corporation to invest part or all of the amounts in the Project Fund in a guaranteed investment contract, the Corporation Representative shall ensure that the Corporation complies with the requirements of such laws.
Guaranteed Investment Contracts. Agreements or contracts for guaranteed investment contracts may be entered into if they are issued or guaranteed by United States
Guaranteed Investment Contracts. In the case of a Nonpurpose Investment that has specifically negotiated withdrawal or reinvestment provisions and a specifically negotiated interest rate, including an agreement to supply investments on two or more future dates, the fair market value is its purchase price if the following conditions are satisfied:
(1) The Borrower or its agent makes a bona fide solicitation for the purchase of the Investment that satisfies all of the following requirements:
(a) The bid specifications were in writing and were timely forwarded to potential providers.
(b) The bid specifications included all material terms of the bid. A term is material if it may directly or indirectly affect the yield or the cost of the Investment.
(c) The bid specifications included a statement notifying potential providers that submission of a bid is a representation that the potential provider did not consult with any other potential provider about its bid, that the bid was determined without regard to any other formal or informal agreement that the potential provider has with the Issuer or any other person (whether or not in connection with the Bonds), and that the bid is not being submitted solely as a courtesy to the Borrower or any other person for purposes of satisfying the requirements of paragraph (2) below.
(d) The terms of the bid specifications are commercially reasonable. A term is commercially reasonable if there is a legitimate business purpose for the term other than to increase the purchase price or reduce the yield of the Investment.
(e) The terms of the solicitation take into account the Borrower’s reasonably expected deposit and drawdown schedule for the amounts to be invested.
(f) All potential providers had an equal opportunity to bid. For example, no potential provider was given the opportunity to review other bids (i.e., a last look) before providing a bid.
(g) At least three reasonably competitive providers were solicited for bids. A reasonably competitive provider is a provider that has an established industry reputation as a competitive provider of the type of investments being purchased.
(2) The bids received must meet all of the following requirements:
(a) Bids are received from at least three providers that were solicited under a bona fide solicitation meeting the requirements of paragraph (1) above and that do not have a material financial interest in the Bonds. The Underwriter is deemed to have a material financial interest in the Bonds until 15 days after the...