Defeasance Collateral definition

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

Defeasance Collateral means, with respect to any Defeasance Loan, the Government Securities required to be pledged in lieu of prepayment pursuant to the terms thereof.

Defeasance Collateral. With respect to any Defeasance Loan, the United States government obligations required or permitted to be pledged in lieu of prepayment pursuant to the terms thereof.

Examples of Defeasance Collateral in a sentence

• The covenants of the City and the State described above shall be of no force and effect with respect to anyBond if there is on deposit in trust with a bank or trust company sufficient cash or Defeasance Collateral to pay when due all principal of, applicable redemption premium, if any, and interest on such Bond.

• Lender shall not in any way be liable by reason of any insufficiency in the Defeasance Collateral Account.

• The covenants of the City and the State described above shall be of no force and effect with respect to anyBond if there is on deposit in trust with a bank or trust company sufficient cash or Defeasance Collateral to paywhen due all principal of, applicable redemption premium, if any, and interest on such Bond.

• The covenants of the City and the State described above shall be of no force and effect with respect to anyBond if there is on deposit in accordance with the Indenture sufficient cash or Defeasance Collateral to pay whendue all principal of, applicable redemption premium, if any, and interest on such Bond.

• Borrower shall prepay all cost and expenses associated with opening and maintaining the Defeasance Collateral Account.

More Definitions of Defeasance Collateral

Defeasance Collateral means, with respect to any Defeasance Loan, the United States Treasury obligations required to be pledged in lieu of prepayment pursuant to the terms thereof.

Defeasance Collateral shall have the meaning set forth in Section 2.4.1(b) hereof

Defeasance Collateral means money and (A) non-callable direct obligations of the United States of America, non-callable and non-prepayable direct federal agency obligations the timely payment of principal of and interest on which are fully and unconditionally guaranteed by the United States of America, non-callable direct obligations of the United States of America which have been stripped by the United States Treasury itself or by any

Defeasance Collateral means Partial Defeasance Collateral or Total Defeasance Collateral, as applicable.

Defeasance Collateral means money and (A) non-callable direct obligations of the United States of America, non-callable and non-prepayable direct federal agency obligations the timely payment of principal of and interest on which are fully and unconditionally guaranteed by the United States of America, non-callable direct obligations of the United States of America which have been stripped by the United States Treasury itself or by any Federal Reserve Bank (not including “CATS,” “TIGRS” and “TRS” unless the Authority obtains Rating Confirmation with respect thereto) and the interest components of REFCORP bonds for which the underlying bond is non-callable (or non-callable before the due date of such interest component) for which separation of principal and interest is made by request to the Federal Reserve Bank of New York in book-entry form, and shall exclude investments in mutual funds and unit investment trusts;

Defeasance Collateral. Noncallable government obligations of (or non-callable obligations, fully guaranteed as to timely payment by) the United States of America, as are permitted under the terms of a Mortgage Note or related Mortgage Loan documents, but only if such obligations or assets constitute "government securities" under the defeasance rule of the REMIC Provisions.

Defeasance Collateral means U.S. Obligations, which provide payments (i) on or prior to, but as close as possible to, the Business Day immediately preceding all Monthly Payment Dates and other scheduled payment dates, if any, under the Note after the Defeasance Date and up to and including the Permitted Prepayment Date, and (ii) in amounts equal to or greater than the Scheduled Defeasance Payments relating to such Monthly Payment Dates and other scheduled payment dates.