Covered Obligation definition

Covered Obligation shall have the meaning set forth in Recital B.
Sample 1Sample 2
Covered Obligation means (1) any interest obligation, principal obligation or enumerated obligation of a government entity that is due or becomes due during the emergency period in respect of such government entity, (2) any obligation arising or resulting from, or related to, the guarantee by such government entity of any obligation of another entity that is due or becomes due during the emergency period, and (3) if
Sample 1Sample 2
Covered Obligation shall have the meaning set forth in the Surety Bond.
Sample 1

Examples of Covered Obligation in a sentence

  • For the avoidance of doubt, (i) coverage under this Policy with respect to each Covered Obligation shall commence at the time the Mortgage Loan was Acquired, and (ii) the first report in September 2020 will include in aggregate information for the Mortgage Loans Acquired from the Effective Date up to the first report in September 2020.

  • Subject to the satisfaction of the conditions described in Article VI(A)(5), if a Covered Obligation is refinanced under the Enhanced Relief Refinance Program and meets the Enhanced Relief Refinance Program Criteria, such Covered Obligation will not be removed from the Covered Pool until the Enhanced Relief Refinance Program Release Date.

  • With respect to any Credit Event Covered Obligation, there can only be one occurrence of a Credit Event; provided, however, that one additional separate Credit Event can occur with respect to each instance of such Credit Event Covered Obligation becoming a Reversed Credit Event Covered Obligation.

  • For the avoidance of doubt, if a refinancing of a Covered Obligation under the Enhanced Relief Refinancing Program is completed, the replacement thereof in the Covered Pool with the resulting Enhanced Relief Refinance Covered Obligation will not constitute a Credit Event.

  • Moratorium Orders 14 and 18 state that “ no action whatsoever shall be taken and no claim or proceeding whatsoever shall commence or continue in any court of any jurisdiction that is related to or arises under a Covered Obligation .

  • No Covered Obligation will be removed from the Covered Pool after the Effective Date solely as a result of the determination of a Minor Servicing Defect, Unconfirmed Servicing Defect or Unconfirmed Underwriting Defect and any such Covered Obligation will remain eligible to become subject to an Underwriting Defect or Major Servicing Defect.

  • At the same time, the Moratorium Act stripped such insurers of any power to dispute or “exercise any remedy” relating to claims it had to pay after a default on a Covered Obligation.

  • Moratorium Orders 30 and 31 contain substantially similar language, providing that “no act shall be done, and no action or proceeding shall be commenced or continued in any court of any jurisdiction that is related to or arises under any Covered Obligation .

  • In the event that a Covered Obligation that was previously removed from the Covered Pool is discovered to have been removed in error, such Covered Obligation will be reinstated into the Covered Pool.

  • These orders state that “no action whatsoever shall be taken and no claim or proceeding whatsoever shall commence or continue in any court of any jurisdiction that is related to or arises under a Covered Obligation of” GDB and PRHTA, respectively.


More Definitions of Covered Obligation

Covered Obligation means the obligation of a Participating Guaranty Association to Statesman policyholders or beneficiaries which, pursuant to each Participating Guaranty Association's enabling act, and as a result of the insolvency and liquidation of Statesman, have arisen or will arise on or after entry of the Permanent Injunction.
Sample 1
Covered Obligation means an obligation of a Participating Association to policyholders, beneficiaries and/or payees of a policy listed in Exhibit 7.1.1. Covered
Sample 1
Covered Obligation means a Loan or a Substitute Subsidiary Loan and "Covered Obligations" means Loans or Substitute Subsidiary Loans or any combination of the foregoing.
Sample 1
Covered Obligation means (1) any interest obligation, principal obligation or enumerated obligation of a government entity that is due or becomes due during the emergency period in respect of such government entity, (2) any obligation arising or resulting from, or related to, the guarantee by such government entity of any obligation of another entity that is due or becomes due during the emergency period, and (3) if provided for in an order issued pursuant under Section 201 (d) of this Act, the transfer of, or obligation to transfer, funds required to be made in advance of, or on the due date of, any obligation identified in the preceding clauses (1) and (2), if, and in each case, such government entity is declared to be in a state of emergency by an executive order of the Governor as contemplated in Section 201(a) of this Act, as may be amended from time to time, but shall not include—
Sample 1

Related to Covered Obligation

  • U.S. Secured Obligations means all Secured Obligations of the US Loan Parties.

  • Related Secured Obligations means, as of any date, the outstanding principal amount of the Related Equipment Notes issued under each Related Indenture, the accrued and unpaid interest (including, to the extent permitted by applicable law, post-petition interest and interest on any overdue amounts) due thereon in accordance with such Related Indenture as of such date, the Related Make-Whole Amount, if any, with respect thereto due thereon in accordance with such Related Indenture as of such date, and any other amounts payable as of such date under the “Operative Documents” (as defined in each Related Indenture).

  • Excluded Obligations has the meaning set forth in Section 2.5.

  • Secured Obligation means an obligation secured by a security interest;

  • Sukuk Obligation means any undertaking or other obligation to pay any money given in connection with the issue of trust certificates or other instruments intended to be issued in compliance with the principles of Shari'ah, whether or not in return for consideration of any kind.

  • Secured Obligations has the meaning specified in the Security Agreement.

  • Issuer Secured Obligations means the Insurer Issuer Secured Obligations and the Trustee Issuer Secured Obligations.

  • Senior Secured Obligations means (a) with respect to the Revolving Facility Obligations (to the extent such Obligations are secured by the Noteholder First Lien Collateral), the Noteholder Obligations, and (b) with respect to Noteholder Obligations (to the extent such Obligations are secured by the Revolving Facility First Lien Collateral), the Revolving Facility Obligations.

  • Additional Secured Obligations means (a) all obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements and (b) all costs and expenses incurred in connection with enforcement and collection of the foregoing, including the fees, charges and disbursements of counsel, in each case whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest, expenses and fees that accrue after the commencement by or against any Loan Party or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest, expenses and fees are allowed claims in such proceeding; provided that Additional Secured Obligations of a Guarantor shall exclude any Excluded Swap Obligations with respect to such Guarantor.

  • Relevant Sukuk Obligation means any undertaking or other obligation to pay any money given in connection with the issue of Islamic-compliant certificates, whether or not in return for consideration of any kind, which for the time being are, or are intended to be, or are capable of being, quoted, listed or ordinarily dealt in or traded on any stock exchange, over-the-counter or other securities market.

  • Credit Improved Obligation means any Collateral Debt Obligation which, in the Investment Manager’s judgment, has significantly improved in credit quality and in respect of which one of the following is satisfied:

  • Guaranteed Obligations has the meaning set forth in Section 11.01.

  • Guaranteed Obligation and “Guaranteed Obligations” shall have the meaning assigned thereto in the Guarantee set forth on the signature pages hereto.

  • Retained Obligations shall have the meaning set forth in Section 2.6.

  • Specified Obligations means Obligations consisting of the principal and interest on Loans, reimbursement obligations in respect of LC Disbursements and fees.

  • Refunded Obligations means, collectively, the Refunded Notes, if any, and the Refunded Bonds, if any, refunded by each Series.

  • Guaranty Obligation has the meaning specified in the definition of "Contingent Obligation."

  • Current Pay Obligation means a Collateral Debt Obligation that would otherwise be a Defaulted Obligation, but as to which:

  • DIP Obligations means “DIP Obligations” as defined in the DIP Order.

  • L/C Obligation means, as at any date of determination, the aggregate maximum amount then available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts in respect of Letters of Credit, including all L/C Borrowings.

  • Loan obligation means a bond, note, or other evidence of an obligation issued by a qualified borrower.

  • Service obligation means the contractual obligation undertaken by an individual under section 2705 or section 2707 to provide health care services for a determinable time period at a site designated by the department.

  • Guarantied Obligations and "Secured Obligations," as the case may be (in each case as such terms are defined in the applicable Credit Support Document), including without limitation the payment and performance of all such "Obligations," "Guarantied Obligations" or "Secured Obligations," as the case may be, in respect of the Obligations of the Borrowers now or hereafter existing under or in respect of the Amended Agreement. Each Credit Support Party acknowledges and agrees that any of the Credit Support Documents to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of this Amendment. Each Credit Support Party represents and warrants that all representations and warranties contained in the Amended Agreement and the Credit Support Documents to which it is a party or otherwise bound are true, correct and complete in all material respects on and as of the Second Amendment Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier date. Each Credit Support Party (other than the Borrowers) acknowledges and agrees that (i) notwithstanding the conditions to effectiveness set forth in this Amendment, such Credit Support Party is not required by the terms of the Credit Agreement or any other Loan Document to consent to the amendments to the Credit Agreement effected pursuant to this Amendment and (ii) nothing in the Credit Agreement, this Amendment or any other Loan Document shall be deemed to require the consent of such Credit Support Party to any future amendments to the Credit Agreement.

  • Junior Obligation means the Shares, and any other class of the Issuer’s share capital and any instrument or other obligation (including without limitation any preference shares) issued or guaranteed by the Issuer that ranks or is expressed to rank junior to the Capital Securities by operation of law or contract.

  • U.S. Obligations means non-redeemable securities evidencing an obligation to timely pay principal and/or interest in a full and timely manner that are direct obligations of the United States of America for the payment of which its full faith and credit is pledged.

  • Permitted Obligations mean (i) nonspeculative Hedging Obligations of any Person and its Subsidiaries arising in the ordinary course of business and in accordance with such Person’s established risk management policies that are designed to protect such Person against, among other things, fluctuations in interest rates or currency exchange rates and which in the case of agreements relating to interest rates shall have a notional amount no greater than the payments due with respect to the applicable obligations being hedged and (ii) Commodity Trading Obligations. For the avoidance of doubt, such transactions shall be considered nonspeculative if undertaken in conformance with FE’s Corporate Risk Management Policy then in effect, as approved by FE’s Audit Committee, together with the Approved Business Unit Risk Management Policies referenced thereunder.