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.

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

• Defease: To set aside sufficient money to retire outstanding debt.

• MacCary, How to Defease a Loan on Schedule and Avoid Future Liability, Cal Real Estate Journal (June 4, 2007), at <http://www.nossaman.com/ showarticle.aspx?show=3852> (accessed August 1, 2008).

• N.J.S.A. 48:3-9 Medium Term Notes; (2) to Enter into Interest Rate Risk Management Transactions Related to Certain Outstanding Long-Term Debt Securities and any New Issuances Approved Hereunder; (3) Redeem, Refinance or Defease any of the Company’s Outstanding Long-Term Debt Securities; and (4) Pursuant to N.J.S.A. 48:3- 9, to Enter into a Credit Facility Allowing the Issuance of Bank Note Obligations.Mark C.

• Lien on Cash Deposited to Defease (a) $58,300,000 aggregate face amount principal amount of Showboat's First Mortgage Bonds due 2008, and (b) the $2,400,000 aggregate outstanding principal amount of Showboat's Senior Subordinated Notes due 2009.

• 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.

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 means to deliver Defeasance Collateral as substitute collateral for a Defeased Mortgage Loan in accordance with the terms of the Defeased Loan Agreement and to cause the Defeased Note to be assumed by a Defeasance Borrower in accordance with the terms of the Defeasance Loan Agreement. The terms “Defeased”, “Defeasing” and “Defeasance” have the correlative meanings.

Defease shall have correlative meanings.

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

Defease or “defeased” means, with reference to the Existing Notes, the defeasance of the Existing Notes pursuant to Article 8 of the Existing Indenture.

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).