Defeasance Agreement definition

Defeasance Agreement means one or more agreements between the City and the Trustee authorized by Section 8 of this Ordinance concern- ing the defeasance of certain Out- standing Revenue Bonds using funds of the Water Division of the City.
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Defeasance Agreement means an arrangement pursuant to which money or securities are paid to, or deposited with, a depository in the amount designed to pay or discharge in full any liability in respect of any notes, bonds, debentures or debenture stock.
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Examples of Defeasance Agreement in a sentence

  • The parties further agree that HR Parent would not have entered into the Defeasance Agreement without the confirmations, ratifications, amendments and agreements set forth in this Omnibus Amendment Agreement No. 1 to Lease Agreements (this “Agreement”).

  • The parties to the Defeasance Agreement have agreed, among other things, that the aggregate rent paid by HSMC related to the Birmingham MOBs will continue to be paid and will be allocated in part to each of the Leases amended hereby on a pro rata basis to increase the rent payable under each such Lease accordingly, as more particularly shown in the attached Schedule 1.

  • This Defeasance Agreement shall terminate when the Series 1994 Bonds have been fully paid in accordance with their terms and any remaining monies and Government Securities, together with any interest thereon, in the Defeasance Fund have been transferred by the Trustee to the Company or its successor, in accordance with the applicable provisions of the Indentures.

  • No resignation shall become effective until a successor Trustee has been appointed and has agreed to be bound by the terms of this Defeasance Agreement.

  • Concurrently with the execution of this Defeasance Agreement, there are herewith deposited with Trustee, from the Company Funds and the Indenture Funds, immediately available monies in the amount of $13,778,515.01; all of which amounts shall be deposited in the Defeasance Fund; and from such amount the amount of $13,778,158.76 shall be used to purchase the Government Securities described in Exhibit A attached hereto.

  • This Defeasance Agreement may be executed in several counterparts, all or any of which shall be regarded for all purposes as an original and shall constitute and be but one and the same instrument.

  • The foregoing indemnities in this paragraph shall survive the resignation of the Trustee or the termination of this Defeasance Agreement.

  • The Trustee hereby establishes the Defeasance Fund and accepts the monies deposited therein pursuant to this Defeasance Agreement.

  • In accordance with the Indenture and the Defeasance Agreement, if 90% or more in aggregate principal amount of Debentures outstanding on the date Equal provides the Debenture Offer to holders of the Debentures have been tendered for purchase pursuant to the Debenture Offer on the Change of Control Purchase Date, the Trustee shall from the Trust Funds redeem all the Debentures remaining outstanding at the Offer Price as at the Change of Control Purchase Date.

  • In consideration of the services rendered by the Trustee under this Defeasance Agreement, the Company agrees to and shall pay to the Trustee a fee of $500.00 due upon the execution of this Defeasance Agreement; and shall reimburse the Trustee for extraordinary expenses such as publication costs.

Related to Defeasance Agreement

  • Defeasance Date shall have the meaning set forth in Section 2.5.1(a)(i) hereof.

  • Defeasance Agent means another financial institution which is eligible to act as Trustee hereunder and which assumes all of the obligations of the Trustee necessary to enable the Trustee to act hereunder. In the event such a Defeasance Agent is appointed pursuant to this Section, the following conditions shall apply:

  • Defeasance Obligations means any of the following obligations:

  • Defeasance Deposit means an amount equal to the remaining principal amount of the Note, the Defeasance Payment Amount, any costs and expenses incurred or to be incurred in the purchase of U.S. Obligations necessary to meet the Scheduled Defeasance Payments and any revenue, documentary stamp or intangible taxes or any other tax or charge due in connection with the transfer of the Note or otherwise required to accomplish the agreements of Sections 2.4 and 2.5 hereof (including, without limitation, any fees and expenses of accountants, attorneys and the Rating Agencies incurred in connection therewith).

  • Defeasance Period is defined in the Note, if applicable.

  • Defeasance Securities means (i) Federal Securities, (ii) noncallable obligations of an agency or instrumentality of the United States of America, including obligations that are unconditionally guaranteed or insured by the agency or instrumentality and that, on the date the Commissioners Court adopts or approves proceedings authorizing the issuance of refunding bonds or otherwise provide for the funding of an escrow to effect the defeasance of the Bonds are rated as to investment quality by a nationally recognized investment rating firm not less than "AAA" or its equivalent, (iii) noncallable obligations of a state or an agency or a county, municipality, or other political subdivision of a state that have been refunded and that, on the date the Commissioners Court adopts or approves proceedings authorizing the issuance of refunding bonds or otherwise provide for the funding of an escrow to effect the defeasance of the Bonds, are rated as to investment quality by a nationally recognized investment rating firm no less than "AAA" or its equivalent, and (iv) any other then authorized securities or obligations under applicable State law that may be used to defease obligations such as the Bonds.

  • Defeasance Event shall have the meaning set forth in Section 2.5.1(a) hereof.

  • Defeasance Collateral means: (i) a Xxxxxxx Mac Debt Security, (ii) a Xxxxxx Mae Debt Security, (iii) U.S. Treasury Obligations, or (iv) FHLB Obligations.

  • Scheduled Defeasance Payments shall have the meaning set forth in Section 2.5.1(b) hereof.

  • Legal Defeasance Option is defined in Section 4.01(b) of the Indenture.

  • Covenant Defeasance Option is defined in Section 4.01(b) of the Indenture.

  • Defeasance has the meaning specified in Section 1302.

  • Repayment Agreement means an agreement

  • Refinancing Agreement as defined in Subsection 8.3(c).

  • Remarketing Agreement means the Remarketing Agreement to be entered into by and among the Company, the Trust, the Remarketing Agent and the Agent.

  • Senior Subordinated Note Indenture the Indenture entered into by the Borrower and certain of its Subsidiaries in connection with the issuance of the Senior Subordinated Notes, together with all instruments and other agreements entered into by the Borrower or such Subsidiaries in connection therewith, as the same may be amended, supplemented or otherwise modified from time to time in accordance with Section 7.9.

  • Finance agreement means a loan, lease, or installment sale agreement for a motor vehicle. The term includes, but is not limited to, an installment sale contract, a retail installment contract, or a retail charge agreement.

  • Paying Agency Agreement means one or more Paying Agency Agreements made

  • Senior Subordinated Note Documents means the Senior Subordinated Notes Indenture and all other instruments, agreements and other documents evidencing the Senior Subordinated Notes or providing for any guarantee or other right in respect thereof.

  • Netting agreement means a netting agreement, master netting agreement or other similar document having the same effect as a netting agreement or master netting agreement and, as applicable, any collateral annex, security agreement or other similar document related to any master netting agreement or Permitted Contract.

  • Payment Agreement means a written agreement which provides

  • Subordinated Note Indenture means the Indenture dated as of the Closing Date, among the Borrower, the guarantors party thereto and The Bank of New York, as trustee, pursuant to which the Subordinated Notes are issued, as the same may be amended, supplemented or otherwise modified from time to time to the extent permitted by Section 10.7(b).

  • Non-Lead Securitization Servicing Agreement shall have the meaning assigned to such term in Section 2(b).

  • Sub-Servicing Agreement The written contract between the Servicer and a Sub-Servicer relating to servicing and administration of certain Mortgage Loans as provided in Section 3.02.

  • Master Transaction Agreement has the meaning set forth in the recitals.