Defease definition

Defease or “Defeasance” means the setting aside in escrow or other special fund or account of sufficient investments and money dedicated to pay all principal of and interest on all or a portion of an obligation as it comes due.

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Defease means to deliver Defeasance Collateral as substitute Collateral for the Loan in accordance with Section 2.1 and to cause the Defeased Note to be assumed by a Defeasance Borrower in accordance herewith; and the terms “Defeased” and “Defeasance” have meanings correlative to the foregoing.

Defease means to deliver Defeasance Collateral as substitute Collateral for the Loan in accordance with Section 2.1; and the terms "Defeased" and "Defeasance" have meanings correlative to the foregoing.

Examples of Defease in a sentence

• Subject to compliance with this Article, the Company or the Guarantor may Defease any Securities pursuant to this Section notwithstanding the prior Covenant Defeasance of such Securities pursuant to Section 1303.

• Defease the New Notes pursuant to Article 9 of the New Indenture or otherwise effect a defeasance of the New Notes.

• In the event the whole or any part of the Leased Property or the improvements thereon is taken by eminent domain proceedings, the interest of the Authority shall be recognized and is hereby determined to be (i) the amount necessary to Defease the Indenture, including payment of the unpaid amount of the Note and unpaid accrued interest thereon and all amounts due under the Note Purchase Agreement, the balance of the award, if any, shall be paid to the City.

• If, notwithstanding the commercially reasonable efforts of Purchaser and Northlake Seller, the applicable Mortgage Lender does not consent in writing to the Loan Assumption of Northlake Mall on or before sixty (60) days prior to the Closing Date (the “Northlake Cut-Off Time”), then Purchaser and Northlake Seller shall Defease such loan in accordance with the terms of Section 14.4 hereof.

• Either Facility Borrower may, upon payment by such Facility Borrower to any Bank claiming indemnification under this paragraph (a) of any amount payable by such Facility Borrower to such Bank, elect by not less than four Business Days' prior written notice to such Bank to terminate the Commitment of such Bank and prepay or Defease (in the case of Bankers' Acceptances) the outstanding Loans of such Bank.

More Definitions of Defease

Defease means to deliver Federal Obligations as substitute Collateral for the Loan in accordance with Section 11.3; and the term “Defeasance” has the meaning correlative to the foregoing.

Defease or "Defeasance": with respect to any Bankers' Acceptance accepted by a C$ Bank, the payment by CCCL to such C$ Bank of an amount equal to the aggregate face amount of CCCL's obligations pursuant to such Bankers' Acceptance which amount shall be (a) held by such C$ Bank for application, at the maturity of such Bankers' Acceptance, to the payment of such C$ Bank's obligations with respect to such Bankers' Acceptance and (b) invested by such C$ Bank in bankers' acceptances or cash equivalents reasonably acceptable to such C$ Bank as directed by CCCL, provided that in the case of investments in bankers' acceptances, (i) such investments shall be available to such C$ Bank on customary terms and (ii) the amounts and maturities thereof shall be no greater or longer than the amount and maturity of such Bankers' Acceptance. Each of CCCL and each C$ Bank hereby agrees that, upon CCCL effecting the Defeasance of any Bankers' Acceptance accepted by such C$ Bank, CCCL shall be released from all obligations to such C$ Bank in any way relating to such Bankers' Acceptance. In addition, each such C$ Bank agrees that it will, at the maturity of the applicable Bankers' Acceptance, pay to CCCL an amount equal to the income earned by such C$ Bank on any investments made pursuant to clause (b) of this definition.

Defease or “Defeasance” means the setting aside in escrow or other special fund or account of sufficient investments

Defease means that the amount of debt on a bond is paid through cash or issuance of new bonds.

Defease means to deliver Defeasance Collateral as substitute Collateral for the Loan in accordance with Section 2.1 and to cause the Defeased Note to be assumed by a Defeasance Borrower in accordance herewith; and the terms “Defeased” and “Defeasance” have meanings correlative to the foregoing. “Defeased Note” has the meaning set forth in Section 2.1(b). “Deferred Maintenance Amount” means $0.00. “Deferred Maintenance Conditions” means those items described in Schedule C. “Deferred Maintenance and Environmental Escrow Account” has the meaning set forth in Section 3.7(a). “DSCR” means, with respect to any Test Period, the quotient obtained by dividing (i) Net Operating Income by (ii) the product of (x) the Loan Amount, (y) 3.753% and (z) a fraction, the numerator of which is the actual number of days in such Test Period and the denominator of which is 360. “DSCR Threshold” means, with respect to any release of a Permitted Release Parcel, the greater of (x) the Closing Date DSCR and (y) the lesser of (i) DSCR immediately prior to such release and (ii) 4.09x. “EEA Bail-In Action” means the exercise of any EEA Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. “EEA Bail-In Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EEA Bail-In Legislation Schedule. “EEA Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time. “EEA Financial Institution” means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent. 7

Defease. “Defeased”, “Defeasing”, and “Defeasance” shall have the meaning set forth in Section 14.4(a)(i) hereof.

Defease means to deliver Defeasance Collateral as substitute Collateral for the Loan in accordance with Section 2.1; and the term "Defeasance" has the meaning correlative to the foregoing. "Deferred Maintenance Amount" means $23,434.40. "Deferred Maintenance Conditions" means those items identified in Schedule C, as more particularly described in the Engineering Report. "Deferred Maintenance and Environmental Escrow Account" has the meaning set forth in Section 3.7(a).