Crossover Refunding definition
Crossover Refunding means a transaction in which Crossover Refunding Bonds are issued to refund Crossover Refunded Bonds and in which a Crossover Amount is deposited in a Crossover Escrow Account.
Crossover Refunding means a refunding of a series of Bonds or Additional Bonds issued hereunder by the issuance of a series of bonds which are not secured by the Trust Estate until a specified future date but which refunding bonds will on and after the Crossover Date become secured by the Trust Estate.
Crossover Refunding means an advance refunding in which Crossover Refunding Bonds are issued to refund Crossover Refunded Bonds and in which a Crossover Amount is deposited in a Crossover Escrow Account.
Examples of Crossover Refunding in a sentence
The net proceeds of the Bonds will be used to advance refund all or a portion of the District’s outstanding 2013 General Obligation Refunding Bonds (2016 Crossover Refunding) (the “Refunded Bonds.
In addition, the Trustee shall receive an Opinion of Counsel stating that upon the incurrence of such proposed Long-Term Indebtedness and application of the proceeds thereof (on the Cross-over Date, in the case of Cross-over Refunding Indebtedness), the Outstanding Long-Term Indebtedness to be refunded thereby will no longer be Outstanding.