Defeased definition

Defeased means, with respect to any Letters of Credit, that cash cover has been posted, or back-to-back letters of credit have been issued, in respect of such Letters of Credit for the benefit of the related Issuing Lenders in accordance with Section 2.18.

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Defeased. “Defeasing” and “Defeasance” have the correlative meanings.

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

Examples of Defeased in a sentence

Either Section 1202 or Section 1203 may be applied to the Defeased Notes to any Redemption Date or the Stated Maturity of the Notes.
The Company shall pay and indemnify the Trustee and its agents and hold them harmless against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 1204, or the principal, premium, if any, and interest received in respect thereof, other than any such tax, fee or other charge that by law is for the account of the Holders of the Defeased Notes.
Upon the Company’s exercise under Section 1201 of the option applicable to this Section 1202, the Company shall be deemed to have been released and discharged from its obligations with respect to the Defeased Notes on the date the relevant conditions set forth in Section 1204 below are satisfied (hereinafter, “Defeasance”).
To the extent the Consolidated Operating Partnership has Defeased Debt, both the underlying debt and interest payable thereon and the financial assets used to defease such debt and interest earned thereon shall be excluded from calculations of the foregoing financial covenants.
The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 404 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is imposed, assessed or for the account of the Holders of the Defeased Securities.
The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 404 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the Defeased Securities.
The Defeased Note and Undefeased Note shall have identical terms as the Note except for the principal balance.
Borrower shall pay $1,000 to any such Successor Borrower as consideration for assuming the obligations under the Note or the Defeased Note, as applicable, and the Security Agreement.
The Company shall pay and indemnify the Trustee and its agents and hold them harmless against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited by the Company pursuant to Section 1204, or the principal, premium, if any, and interest received in respect thereof, other than any such tax, fee or other charge that by law is for the account of the Holders of the Defeased Notes.
Such Successor Borrower shall assume the obligations under the Note or the Defeased Note, as applicable, and the Security Agreement and Borrower shall be relieved of its obligations under such documents.

More Definitions of Defeased

Defeased means, with respect to any Indebtedness of the Borrower, that such Indebtedness is subject to an arrangement which is in all respects (including, without limitation, the related documentation and the amount and maturity of Cash Equivalents involved) satisfactory to the Required Lenders whereby an amount of Cash Equivalents described in CLAUSE (c) of the definition thereof (but regardless of maturity thereof) sufficient to repay such Indebtedness and related interest is deposited in an account (the "Account") with First Chicago which is pledged to the Agent to secure the Obligations pursuant to documentation reasonably satisfactory to the Agent, which documentation shall irrevocably direct the Agent (a) to apply amounts from the Account to pay principal and interest on such Indebtedness as it comes due, (b) to release such funds or a portion thereof to the Borrower upon the direction of the Borrower and subject to the Agent's determination that the Borrower's audited consolidated financial statements evidence a reduction in the amount of such Indebtedness equal to or greater than such funds so released or (c) to apply amounts from the Account to repay Advances and reduce the Aggregate Commitment by the amount of such repayment pursuant to SECTION 2.5.4 upon the earlier of (i) direction of the Borrower or (ii) the acceleration of the Obligations. "Defeasing" and "Defease" shall have correlative meanings.

Defeased when used with respect to the Bonds, has the meaning assigned in Section 13.1. “Designated Index” means an index used to determine the Index Rate.

Defeased means, with reference to the Existing Notes, the defeasance of the Existing Notes pursuant to Article 8 of the Existing Indenture.