Treasury obligations. Securities issued by the U.S. Treasury and backed by the full faith and credit of the United States. Treasuries are considered to have no credit risk, and are the benchmark for interest rates on all other securities in the US and overseas. The Treasury issues both discounted securities and fixed coupon notes and bonds. Treasury Bills. All securities issued with initial maturities of one year or less are issued as discounted instruments, and are called Treasury bills. The Treasury currently issues three- and six-month T-bills at regular weekly auctions. It also issues “cash management” bills as needed to smooth out cash flows.
Treasury obligations. For purposes of this calculation any earnings on or proceeds of Investments shall be assumed to be invested or reinvested at the then current yield on U.S. Treasury obligations maturing on or about a date two years from the date of Investment.
Treasury obligations. Upon the receipt of such offers, the Administrative Agent shall determine the offer price and execution terms that will yield the greatest expected Up-MACRO Available Income Accrual and Down-MACRO Available Income Accrual for the next Calculation Period and shall direct the Trustee to purchase Treasuries, subject to, and in accordance with, the Acquisition Guidelines, from the dealer or dealers who submitted such offers. Instead of or in addition to the foregoing acquisition of U.S. Treasury obligations, the Administrative Agent may, on each Distribution Date, solicit offers, in accordance with the Acquisition Guidelines, from the counterparties designated in Section 3.7(a)(2) for U.S. Treasury repurchase arrangements and, based upon the Administrative Agent's determination of the best offer price and execution terms yielding the greatest Up-MACRO and Down-MACRO Available Income Accrual, shall direct the Trustee to enter into repurchase arrangements with the counterparty or counterparties who submitted such offers. All Treasuries acquired as described above shall be allocated ratably between the Up-MACRO Holding Trust and the Down-MACRO Holding Trust. Treasuries purchased on each Distribution Date, Subsequent Issuance Date or any other date shall be deposited by the Trustee into the Securities Account.
Treasury obligations. If there were six years and four months remaining on the Initial Term of this Agreement, the Discount Rate would be calculated by adding 300 basis points to the then current yield on the 6-year U.S. Treasury obligations.
Treasury obligations. The Partnership shall give each Partner prompt written notice of any decision not to launch a second or subsequent generation of satellites at least 48 months in advance of the termination or significant degradation of service from the satellite constellation then in operation, and will discuss any such decision with the CSO within a period of two months after such notification.
Treasury obligations. On the Closing Date Purchaser shall deposit Two Million Dollars ($2,000,000) in the Escrow Account and Purchaser, Seller and Escrow Agent shall enter into an escrow agreement (the "Escrow Agreement") substantially in the form attached hereto as Exhibit L. Purchaser hereby grants, effective as of the Closing date and subject to the Closing of the transactions contemplated hereby, to Seller a security interest in the Escrow Account for the purpose of securing Purchaser's obligations under the Holdback Note. Purchaser shall take all necessary and appropriate steps to create a perfected security interest in favor of Seller in ----------------------- /1/ Exhibits G through J have been intentionally deleted. and to the Escrow Account. On the Closing Date, the Escrow Agent shall be authorized to invest funds in the Escrow Account only in short-term U.S. Treasury obligations earning at least the Reference Rate. On April 1, 1997, provided there has been no Seller default under this Agreement, $1,500,000 under the Holdback Note shall become due and payable on April 1, 1997 and in order to satisfy such Purchaser payment obligations, $1,500,000 in the Escrow Account shall be released and transferred to Seller on such date, provided, -------- however, if Purchaser claims Seller is in default under this Agreement and ------- Escrow Agent has received Seller's Notice of Indemnity Dispute and as a result thereof, Escrow Agent does not release and transfer the $1,500,000 to Seller, then Seller shall have all of its rights and remedies, provided for in the Holdback Note subject to Purchaser's right of offset thereunder. All interest on escrowed funds shall be delivered to Purchaser promptly upon receipt, so long as there has been no default by Purchaser under the Holdback Note. Subject to the provisions of Section 8.05, Purchaser shall be entitled to first offset against the Holdback Note and simultaneously therewith assert against the Escrow Account any claims it may have under Article VIII of this Agreement. In addition, Purchaser shall be entitled to receive with respect to all transactions after the Closing Date an amount equal to the difference between the regular admission or concession price as the case may be, and the price at which any patron purchases such admission or concession with the benefit of any discount, guest or club card issued prior to the Closing Date calculated without reference to any amounts paid to the Seller with respect to such discount, guest o...
Treasury obligations. The Treasury hereby agrees that during the Term pursuant to clause 15 of this Agreement (but excluding the period of any notice given by any party) the Treasury will not seek to bring into force legislation to regulate or control prices within the gas market.
