Defeasance Escrow Fund definition

Defeasance Escrow Fund means any trust account into which money and/or Defeasance Securities are deposited for the purpose of defeasing any Senior Bonds in accordance with Section 11.02 of the Indenture.
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Defeasance Escrow Fund means the Defeasance Escrow Fund for Refunded Bonds referred to in the Indenture.
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Defeasance Escrow Fund means any trust account into which money and/or Defeasance Securities are deposited for the purpose of defeasing any Senior Bonds in accordance with Section11.02 of the Indenture.
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Examples of Defeasance Escrow Fund in a sentence

  • The Trustee shall hold all Defeasance Escrow Fund Investments, whether purchased or transferred, in the 2020-1 Defeasance Escrow Fund and shall apply the Defeasance Escrow Fund Investments and the proceeds thereof only for the purposes and in the manner provided in this Agreement.

  • On the date of execution and delivery of this Agreement, the Trustee shall apply so much of the sums deposited in the 2020-1 Defeasance Escrow Fund pursuant to Section 2 hereof as shall be necessary to purchase the Defeasance Obligations (as defined in the Bond Resolution) identified in Exhibit B hereto, with a cash balance of $3.79 (such Defeasance Obligations and cash collectively referred to as the “Defeasance Escrow Fund Investments”).

  • The Escrow Agent hereby creates on its books a special trust and irrevocable escrow fund to be known as City of Arlington, Texas, Cowboys Complex Bond Defeasance Escrow Fund No.1 (the “Escrow Fund”) for the purpose of paying the principal of and interest on the Defeased Bonds, as described in Exhibit A, in order to make firm banking arrangements therefor.

  • There shall be paid, or deposited into the Defeasance Escrow Fund, the amount necessary to defease the Series 2013A Bonds (the “Defeasance Amount”).

  • On the date of execution and delivery of this Agreement, the Trustee shall apply so much of the sums deposited in the 2020-2 Defeasance Escrow Fund pursuant to Section 2 hereof as shall be necessary to purchase the Defeasance Obligations (as defined in the Bond Resolution) identified in Exhibit B hereto, with a cash balance of $7.17 (such Defeasance Obligations and cash collectively referred to as the “Defeasance Escrow Fund Investments”).

  • Any Defeasance Escrow Fund shall be held solely for the benefit of the Owners of the Series 2021A Bonds and/or the Series 2021B Bonds to be paid therefrom as provided in the agreement governing such Defeasance Escrow Fund.

  • The Series 2021A Debt Service Fund and the Series 2021B Debt Service Fund and any other Fund or Account created hereunder (excluding any Defeasance Escrow Fund), shall be held by the Trustee, for the benefit of the Owners of the Series 2021A Bonds and the Series 2021B Bonds, respectively, as specified in this First Supplemental Indenture.

  • There may be deposited into the Series 2021B Redemption Account: (i) any moneys paid to the Trustee pursuant to Sections 3.01 or 3.03 hereof; (ii) amounts transferred from a Defeasance Escrow Fund, and (iii) all other moneys received by the Trustee that are accompanied by directions that such moneys are to be deposited into such Account.

  • The Trustee shall collect on the due dates thereof the principal of and interest on the Defeasance Escrow Fund Investments on deposit in the 2018-2 Defeasance Escrow Fund (the "Escrow Receipts") and shall apply the Escrow Receipts in accordance with the provisions of this Agreement.

  • DEFEASANCE ESCROW AGREEMENT Creation of the Defeasance Escrow Fund.


More Definitions of Defeasance Escrow Fund

Defeasance Escrow Fund means any trust account into which money and/or Defeasance Securities are deposited for the purpose of defeasing any Senior Bonds in accordance with Section
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Related to Defeasance Escrow Fund

  • 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 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.

  • 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 Loan Those Mortgage Loans which provide the related Mortgagor with the option to defease the related Mortgaged Property.

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

  • Defeasance Obligations means any of the following obligations:

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

  • 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 has the meaning specified in Section 1302.

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

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

  • Qualified escrow fund means an escrow arrangement with a federally or state-chartered financial institution having no affiliation with any tobacco product manufacturer and having assets of at least one billion dollars where such arrangement requires that such financial institution hold the escrowed funds’ principal for the benefit of releasing parties and prohibits the tobacco product manufacturer placing the funds into escrow from using, accessing, or directing the use of the funds’ principal except as consistent with section 453C.2, subsection 2, paragraph “b”.

  • Escrow Funds means the Advance funds deposited with the Escrow Agent pursuant to this Agreement.

  • Escrowed Payment means an aggregate cash payment of up to $250,000;

  • Indemnity Escrow Account means the escrow account established by the Escrow Agent pursuant to the terms of the Escrow Agreement for purposes of holding the Indemnity Escrow Amount.

  • Deposit Escrow Agreement has the meaning set forth in Section 2.2.

  • Escrow Payment Any payment received by the Master Servicer or the Special Servicer for the account of any Mortgagor for application toward the payment of real estate taxes, assessments, insurance premiums, ground lease rents and similar items in respect of the related Mortgaged Property, including amounts for deposit to any reserve account.

  • Escrow Accounts means (1) accounts of Parent or any Subsidiary, solely to the extent any such accounts hold funds set aside by Parent or any Subsidiary to manage the collection and payment of amounts collected, withheld or incurred by Parent or such Subsidiary for the benefit of third parties relating to: (a) federal income tax withholding and backup withholding tax, employment taxes, transportation excise taxes and security related charges, (b) any and all state and local income tax withholding, employment taxes and related charges and fees and similar taxes, charges and fees, including, but not limited to, state and local payroll withholding taxes, unemployment and supplemental unemployment taxes, disability taxes, xxxxxxx’x or workers’ compensation charges and related charges and fees, (c) state and local taxes imposed on overall gross receipts, sales and use taxes, fuel excise taxes and hotel occupancy taxes, (d) passenger facility fees and charges collected on behalf of and owed to various administrators, institutions, authorities, agencies and entities, (e) other similar federal, state or local taxes, charges and fees (including without limitation any amount required to be withheld or collected under applicable law) and (f) other funds held in trust for, or otherwise pledged to or segregated for the benefit of, an identified beneficiary; or (2) accounts, capitalized interest accounts, debt service reserve accounts, escrow accounts and other similar accounts of Parent or any Subsidiary or funds established in connection with the ARB Indebtedness.

  • Escrow Fund has the meaning ascribed to it in Section 7.2(a).

  • Escrow Payments With respect to any Mortgage Loan, the amounts constituting ground rents, taxes, assessments, water rates, sewer rents, municipal charges, mortgage insurance premiums, fire and hazard insurance premiums, condominium charges, and any other payments required to be escrowed by the Mortgagor with the mortgagee pursuant to the Mortgage or any other document.

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Escrow Paying Agent Means the Person acting as paying agent under the Escrow Agreement.

  • Sinking Fund Account means the sinking fund account established and held by the Treasurer of Charleston County designed to provide for the payment of the principal of, premium, if any, and interest on the Bonds, as the same respectively fall due.

  • Closing Escrow Agreement means the Closing Escrow Agreement, dated as of the date hereof, between the Company, Xxxx Capital Partners, LLC and the escrow agent (the “Escrow Agent”) identified therein, in the form of Exhibit B hereto.