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

  • All income from such Defeasance Securities received by the Paying Agent/Registrar which is not required for the payment of the Defeased Bonds, with respect to which such money has been so deposited, shall be remitted to the Issuer or deposited as directed in writing by the Issuer.

  • 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.

  • At such time as a Bond shall be deemed to be a Defeased Bond hereunder, as aforesaid, such Bond and the interest thereon shall no longer be secured by, payable from, or entitled to the benefits of, the ad valorem taxes herein levied and pledged as provided in this Ordinance, and such principal and interest shall be payable solely from such money or Defeasance 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.

  • Until all Defeased Bonds shall have become due and payable, the Paying Agent/Registrar shall perform the services of Paying Agent/Registrar for such Defeased Bonds the same as if they had not been defeased, and the Issuer shall make proper arrangements to provide and pay for such services as required by this Ordinance.

  • The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable Government Securities deposited pursuant to Section 8.04 hereof 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 outstanding Defeased Securities.

  • Upon the Company's exercise under Section 401 of the option applicable to this Section 402, the Company, each Guarantor and any other obligor upon the Securities, if any, shall be deemed to have been discharged from its obligations with respect to the Defeased Securities on the date the conditions set forth in Section 404 below are satisfied (hereinafter, "defeasance").


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

  • Defeased Note shall have the meaning set forth in Section 2.4.1(a)(v) hereof.

  • Outstanding Bonds means any Bonds not redeemed or otherwise discharged.

  • Undefeased Note shall have the meaning set forth in Section 2.4.1(a)(v) hereof.

  • Outstanding Indebtedness means the aggregate of the Loan and interest accrued and accruing thereon, the Master Swap Agreement Liabilities, the Expenses and all other sums of money from time to time owing by the Borrowers to the Mortgagee and/or any of the Secured Creditors, whether actually or contingently, present or future, under or pursuant to the Loan Agreement, the Master Swap Agreement, the Security Documents or any of them;

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

  • Defeasible Series has the meaning specified in Section 13.01.

  • Required Subordinated Percentage of Class C Notes means, for the Class A(2022-2) Notes, 8.86075950%, subject to adjustment in accordance with Section 2.02.

  • Encumbered Required Subordinated Amount of Class D Notes means, for the Class C(2020-5) Notes, the product of

  • Outstanding Debt means all the amounts, as adjusted from time to time, outstanding to the members of the CoC who will give their consent for approval of the Resolution Plan of the Successful Resolution Applicant, and as such amount is mentioned in the Information Memorandum.

  • Required Subordinated Percentage of Class D Notes means, for the Class A(2022-2) Notes, 10.75949368%, subject to adjustment in accordance with Section 2.02.

  • Defeasance Obligations means any of the following obligations:

  • Defeasance Date shall have the meaning set forth in Section 2.5.1(a)(i) hereof.

  • Required Subordinated Amount of Class C Notes means, for the Class A(2022-1) Notes for any date of determination, an amount equal to the product of

  • Required Subordinated Percentage of Class B Notes means, for the Class A(2022-1) Notes, 6.96202532%, subject to adjustment in accordance with Section 2.02.

  • Junior Subordinated Indebtedness means the principal of (and premium, if any) and unpaid interest on (a) indebtedness of the Company (including indebtedness of others guaranteed by the Company), whether outstanding on the date hereof or thereafter created, incurred, assumed or guaranteed, for money borrowed, which in the instrument creating or evidencing the same or pursuant to which the same is outstanding it is provided that such indebtedness ranks junior in right of payment to the Company’s Senior Indebtedness and Senior Subordinated Indebtedness and equally and pari passu in right of payment to any other Junior Subordinated Indebtedness, (b) Junior Subordinated Securities, and (c) renewals, extensions, modifications and refinancings of any such indebtedness.

  • Outstanding Securities with respect to any Income PRIDES or Growth PRIDES, means, as of the date of determination, all Income PRIDES or Growth PRIDES evidenced by Certificates theretofore authenticated, executed and delivered under this Agreement, except:

  • Junior Subordinated Notes means the $__________ aggregate principal amount of the Depositor's Series __ ____% Junior Subordinated Notes due ____ __, ____, issued pursuant to the Subordinated Indenture.

  • Outstanding Principal means, on any given date and in relation to any Receivable, the sum of all (i) Principal Instalments due but unpaid at such date; and (ii) the Principal Instalments not yet due at such date.

  • Existing Senior Subordinated Notes means the Company’s existing 8% Senior Subordinated Notes due 2015.

  • Original Subordinated Principal Balance The aggregate of the Class Certificate Balances of the Subordinated Certificates as of the Closing Date.

  • Required Subordinated Amount of Class D Notes means, for the Class A(2022-1) Notes for any date of determination, an amount equal to the product of

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

  • Unencumbered Required Subordinated Amount of Class D Notes means, for the Class B(2020-2) Notes, an amount equal to the product of

  • Existing Subordinated Notes means any instrument or loan issued or incurred before 1 January 2013, whether publicly or privately placed, ranking or expressed to be ranking pari passu with all other subordinated obligations (except for those subordinated obligations expressed by their terms to rank junior), provided that should any such Existing Subordinated Notes be amended in any way (contractually or by statute) which would result in allowing the Issuer to issue subordinated notes ranking senior thereto, then such Subordinated Notes would be deemed to no longer constitute an Existing Subordinated Note. As a result, in the event of liquidation or bankruptcy of the Issuer or in the event of a Moratorium (as defined in Condition 3 of the Conditions of the Notes) with respect to the Issuer, the claims of the holders of the Subordinated Notes ("Subordinated Noteholders") against the Issuer will be:

  • Refunded Notes means that portion of the Series 298 Notes and Series 300 Notes paid from the proceeds of the Bonds and other available funds of the Issuer.

  • Junior Subordinated Debentures means the aggregate principal amount of the Depositor's ____% Junior Subordinated Deferrable Interest Debentures, due ________ __, 2027, issued pursuant to the Indenture.