Acquired Obligations definition
Examples of Acquired Obligations in a sentence
The Refunding Trustee shall present for payment and shall collect and receive on the due dates thereof the maturing installments of the principal of and the interest on the Acquired Obligations and any 23 Substitute Obligations (defined hereinafter).
Upon receipt 15 thereof, the Refunding Trustee shall deliver to the City copies of the documents evidencing the purchase of and payment for the Acquired Obligations.
Based upon the Verification, the City represents that 18 the Acquired Obligations and the maturing principal thereof and the interest thereon, if paid when due, together with the beginning cash balance, shall be sufficient to make when due the payments required by the 19 Refunding Plan.
If such 9 amendment affects the amount of money and investments in the escrow account or the application thereof, prior to the amendment’s taking effect there also shall be a verification by a nationally recognized independent 10 certified public accounting firm satisfactory to the Refunding Trustee to the effect that after such amendment the Acquired Obligations, Substitute Obligations, and other money in the escrow account will be sufficient to 11 make the payments described in Section 3.
The Refunding Trustee shall not have a lien against or otherwise be compensated for its services and expenses 9 from the money, Acquired Obligations, and Substitute Obligations held pursuant to this Refunding Trust Agreement to make the payments described in Section 3.