Bank Qualified definition

Bank Qualified means any Bonds designated by the Issuer as a "qualified tax-exempt obligation" for purposes of Section 265(b)(3)(B)(i) of the Code and "qualified" to hold such designation under the Code.
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Examples of Bank Qualified in a sentence

  • PROGRAM SPECIFICATIONS Type of Issue Equipment Lease/Purchase Agreement Estimated Principal Amount $3,580,800.00 Bank Qualified No Terms/Maturity Fixed Rate / Five Years Payable/Amortization Semi-annually, in arrears Interest income to the County on unspent proceeds held in escrow Lessee County Commissioners of ▇▇▇▇▇▇▇ County, Maryland Equipment Equipment typically has a useful life of longer than five (5) years.

  • The amount payable to the City shall be calculated as follows: (i) the present value of the total debt service payable on the City bonds to their stated maturity dates, less (ii) the present value of the total debt service that would have been payable on the City Bonds to their stated maturity dates if the City bonds had been Bank Qualified, in each case valued as of the date of issuance of the City Bonds.

  • For the purposes of this paragraph, present value will be calculated using the actual yield on the City Bonds (for federal arbitrage purposes), and the assumed yield if the City Bonds had been Bank Qualified as determined by a well-qualified mutually agreed upon independent financial advisor based on the best available market evidence as of the date of acceptance of the bid or proposal from the purchaser of the City bonds.

  • BANK QUALIFIED: This Proposal also assumes that Municipality is Bank Qualified for 2022.

  • Type of Issue Equipment Lease/Purchase Agreement Estimated Principal Amount $6,346,800.00 Bank Qualified No Terms/Maturity Five Years Payable/Amortization Semi-annually, in arrears Interest income to the County on unspent proceeds held in escrow.

  • Tax Status: Exempt from Federal Taxes and Exempt from Oregon State Personal Taxes Bank Qualified: This proposal is a non-bank qualified transaction Closing Date: Anticipated to be around September 20, 2022.

  • Each HV Bank Qualified Plan that is an “employee stock ownership plan” (as defined in Section 4975(e)(7) of the IRC) has satisfied all of the applicable requirements of Sections 409 and 4975(e)(7) of the IRC and the regulations thereunder in all material respects and any assets of any such HV Bank Qualified Plan that, as of the end of the plan year, are not allocated to participants’ individual accounts are pledged as security for, and may be applied to satisfy, any securities acquisition indebtedness.

Related to Bank Qualified

  • suitably qualified person means a person who has professional qualifications, training, skills or experience relevant to the nominated subject matter and can give authoritative assessment, advice and analysis to performance relative to the subject matter using the relevant protocols, standards, methods or literature.

  • Qualified United States financial institution means an institution that:

  • Legally Qualified Physician means a physician or a Christian Science Practitioner (a) other than an Insured, a Traveling Companion or a Family Member: (b) practicing within the scope of his or her license: and (c) recognized as a physician in the place where the services are rendered.

  • Qualified Financial Institution means, at any time, a financial institution organized under the laws of any jurisdiction in the United States of America or Europe that at such time has outstanding debt obligations with a stated maturity of one year or less from the date of issue and rated A-1 or higher by Standard & Poor’s, a division of The McGraw Hill Companies, Inc., Ratings Group (or any successor) or P-1 or higher by Moody’s Investors Service, Inc. (or any successor) or, in either case, such other comparable rating, if any, then used by such rating agency.

  • Federally Qualified Health Center means a non-administrative medical facility with a fixed permanent location that is identified on the following search engines and offers health services on a sliding scale payment system: http://findahealthcenter.hrsa.gov or http://www.ihs.gov/ or http://www.aachc.org/.