COFINA Bonds definition

COFINA Bonds means, collectively, the securities issued by COFINA pursuant to the COFINA Plan, the COFINA Confirmation Order, the COFINA Bonds Legislation and the COFINA Bonds Indenture.
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Examples of COFINA Bonds in a sentence

  • In 2015, certain agencies and public corporations of the Commonwealth of Puerto Rico ("Commonwealth") defaulted on certain interest payments, in 2016, the Commonwealth defaulted on payments on its general obligation debt ("GO Bonds"), and in 2017 the Commonwealth defaulted on payments on its debt backed by the Commonwealth's Sales and Use Tax ("COFINA Bonds") as well as on bonds issued by the Commonwealth's Employee Retirement System ("ERS Bonds").

  • The COFINA Bonds shall consist of Taxable COFINA Bonds and Tax-Exempt COFINA Bonds.

  • The maturities, interest rates and amortization schedules for COFINA Bonds are annexed hereto as Exhibit “A”.

  • The Government Parties shall use their commercially reasonable best efforts to obtain ratings on the COFINA Bonds, including promptly responding in good faith to documentary or other requests, as soon as reasonably practicable as determined solely by the Government Parties, following consultation with a designee of the PSA Creditors, including based upon the Government Parties’ judgment with respect to expected benefits.

  • Interest shall accrue on such overdue debt service at the regular coupon rate or accretion rate, as applicable, compounding semiannually, until the applicable COFINA Bonds or COFINA Parity Bonds are paid or satisfied in full in accordance with their terms.

  • Access to FinanceSince the baseline, SAFE has increased its efforts to help link its supported SGBs to financial institutions in its role as a facilitator.

  • The State of New York reserves the right to join in any such claim, demand, or suit, at its sole expense, when it determines there is an issue involving a significant public interest.

  • The New COFINA Bonds will also be redeemable prior to maturity according to the schedule below.EXHIBIT 4: COFINA CALL SCHEDULE TABLEThe Parties of the PSA have agreed, among other things, to support the claims of the COFINA Plan as provided for in the term sheet.

  • Any claims by COFINA, against any underwriter of the COFINA Bonds (such claims, the “ COFINA Underwriter Claims”) shall not cause the Commonwealth or any of its instrumentalities to incur any liability with respect to the COFINA Underwriter Claims in the nature of contribution, reimbursement, or indemnification, however denominated or described, in connection with, arising out of, or in any way related to such claims (the “Covered Claims”).

  • To the extent that Reorganized COFINA retains COFINA Bonds on behalf of Disputed Claims holders, until such time as such COFINA Bonds are distributed, Reorganized COFINA shall exercise voting or consent rights with respect to such bonds.

Related to COFINA Bonds

  • Series A Bonds means the Series A Senior Secured Nuclear Asset-Recovery Bonds issued by the Issuer on June 22, 2016.

  • Bank Bonds means any Bonds purchased with moneys received under the Letter of Credit in connection with a Liquidity Drawing and held by the Tender Agent, or its agent, in each case, for the account of the Issuing Bank.

  • Bonds means any bonds (including refunding bonds), notes, interim certificates, certificates of indebtedness, debentures or other obligations.

  • School Bonds means School Obligations issued as Bonds.

  • Series 2019 Bonds means, collectively, the Series 2019A Bonds and the Series 2019B Bonds.

  • Existing Bonds means the following obligations of Seller:

  • Senior Bonds means all Bonds issued as Senior Bonds in compliance with the provisions of the Indenture.

  • Prior Bonds means the assessment bonds that are refunded in part or in whole by refunding assessment bonds.

  • Series 2020 Bonds means the Series 2020A Bonds and the Series 2020B Bonds.

  • Covered Bonds means any and all the covered bonds (obbligazioni bancarie garantite) issued or to be issued by the Issuer pursuant to the terms and subject to the conditions of the Programme Agreement.

  • Refunding Bonds means Bonds issued pursuant to provisions of this Master Indenture, the proceeds of which are used to refund one or more Series of Outstanding Bonds.

  • Previously Issued Bonds means all Bonds that have been issued by CFD No. 06-1 prior to the date of prepayment.

  • Term Bonds means Bonds that mature on one date and that are subject to mandatory redemption from Amortization Installments or are subject to extraordinary mandatory or mandatory redemption upon receipt of unscheduled Pledged Revenues.

  • Series 2017 Bonds means, collectively, the Series 2017A Bonds and the Series 2017B Bonds.

  • Corporate Bonds means debt securities issued by private and public corporations.

  • Refunded Bonds means the portion of the $15,757,000 of the Series A Bonds now outstanding that are stated to mature on December 1 in each of the years 2021 through 2024 that is to be refunded by the Bonds, as determined by the Fiscal Officer and specified in the Certificate of Award at the time of the sale of the Bonds in accordance with Section 2, and may include all of those Original Bonds.

  • Pledged Bonds means the related series of Bonds and any other Mortgage Bonds issued to secure Securities subject to the release provisions provided herein or in any other supplemental indenture to the Original Indenture.

  • Transition bonds means bonds, notes, certificates of

  • Outstanding Bonds means any Bonds not redeemed or otherwise discharged.

  • Municipal Bonds means "Municipal Bonds" as defined in the Corporation's Registration Statement on Form N-2 (File No. 333-_____) relating to the AMPS on file with the Securities and Exchange Commission, as such Registration Statement may be amended from time to time, as well as short-term municipal obligations, High Yield Municipal Bonds and Inverse Floaters.

  • Original Bonds has the meaning set forth in the recitals hereto.

  • Debt bondage means the status or condition of a debtor arising from a pledge by the debtor of his or her personal services or of those of a person under his or her control as a security for debt, if the value of those services as reasonably assessed is not applied

  • Initial Bonds means the Bonds issued on the First Issue Date.

  • Replacement Bonds means Bonds issued to the Beneficial Owners of the Bonds in accordance with Section 210 hereof.

  • Completion Bonds means Bonds issued pursuant to a Supplemental Indenture ranking on parity with the Series of Bonds issued under such Supplemental Indenture, the proceeds of which are to be used to complete the Project.

  • Escrowed Bonds means Municipal Obligations that (i) have been determined to be legally defeased in accordance with S&P’s legal defeasance criteria, (ii) have been determined to be economically defeased in accordance with S&P’s economic defeasance criteria and assigned a rating of AAA by S&P, (iii) are not rated by S&P but have been determined to be legally defeased by S&P or (iv) have been determined to be economically defeased by S&P and assigned a rating no lower than the rating that is S&P equivalent of S&P’s AAA rating. In the event that a defeased obligation which is an S&P Eligible Asset does not meet the criteria of an Escrowed Bond, such Municipal Obligation will be deemed to remain in the Issue Type Category into which it fell prior to such defeasance.