Escrowed Bonds definition

Escrowed Bonds means Municipal Obligations that (i) have been determined to be legally defeased in accordance with S&P’s legal defeasance criteria, (ii) have been determined to be economically defeased in accordance with S&P’s economic defeasance criteria and assigned a rating of AAA by S&P, (iii) are not rated by S&P but have been determined to be legally defeased by S&P or (iv) have been determined to be economically defeased by S&P and assigned a rating no lower than the rating that is S&P equivalent of S&P’s AAA rating. In the event that a defeased obligation which is an S&P Eligible Asset does not meet the criteria of an Escrowed Bond, such Municipal Obligation will be deemed to remain in the Issue Type Category into which it fell prior to such defeasance.

Escrowed Bonds means Municipal Obligations that (i) have been determined to be legally defeased in accordance with S&P's legal defeasance criteria, (ii) have been determined to be economically defeased in accordance with S&P's economic defeasance criteria and assigned a rating of AAA by S&P, (iii) are not rated by S&P but have been determined to be legally defeased by Moody's, or (iv) have been determined to be economically defeased by Moody's and assigned a rating no lower than the rating that is Moody's equivalent of S&P's AAA rating.

Escrowed Bonds means Municipal Obligations that (i) have been determined to be legally defeased in accordance with S&P's legal defeasance criteria, (ii) have been determined to be economically defeased in accordance with S&P's economic defeasance criteria and assigned a rating of AAA by S&P, (iii) are not rated by S&P but have been determined to be legally defeased by Moodx'x, xx (iv) have been determined to be economically defeased by Moodx'x xxx assigned a rating no lower than the rating that is Moodx'x xxxivalent of S&P's AAA rating.

Examples of Escrowed Bonds in a sentence

• The percentage limits stated above do not apply to Escrowed Bonds.

• The Escrow Agent shall, at least 60 days prior to the Bond Payment Date, determine the amount of money which will be available in the Escrow Fund to pay the principal of the Escrowed Bonds on the Bond Payment Date and certify in writing to the District (a) the amount so determined and (b) a list of the money and Escrowed Securities held by it in the Escrow Fund on the date of such certification, including all money held by it which were received as interest or profit from Escrowed Securities.

• The District will not be liable (a) for any loss resulting from any investment made pursuant to this Agreement, (b) for the accuracy of the calculations as to the sufficiency of the Escrowed Securities and money in the Escrow Fund to pay the principal of and interest on the Escrowed Bonds or (c) for any acts of the Escrow Agent, except as described in Section 8(d).

• Municipal Obligations (excluding Escrowed Bonds) of any one state or territory shall be considered S&P Eligible Assets only to the extent the Market Value of such Municipal Obligations does not exceed 25% of the aggregate Market Value of S&P Eligible Assets.

• Long-Term Municipal Obligations (excluding Escrowed Bonds) issued by issuers in any one state or territory shall be considered S&P Eligible Assets only to the extent the Market Value of such Municipal Obligations does not exceed 25% of the aggregate Market Value of S&P Eligible Assets.

More Definitions of Escrowed Bonds

Escrowed Bonds means bonds the terms of which require: (a) ninety-five per cent or more of the proceeds of such bonds are escrowed until the occurrence of a specified event or events, and (b) if the specified event or events fail to occur, the escrowed proceeds are to be used to pay the principal of, and interest or premium on, the bonds.

Escrowed Bonds means Municipal Obligations that (i) have been determined to be legally defeased in accordance with S&P’s legal defeasance criteria, (ii) have been determined to be economically defeased in accordance with S&P’s economic defeasance criteria and assigned a rating of AAA by S&P, (iii) are not rated by S&P but have been determined to be legally defeased by Moody’s or (iv) have been determined to be economically defeased by Moody’s and assigned a rating no lower than the rating that is Moody’s equivalent of S&P’s AAA rating.

Escrowed Bonds means Municipal Bonds that (i) have been determined to be legally defeased in accordance with S&P’s legal defeasance criteria, (ii) have been determined to be economically defeased in accordance with S&P’s economic defeasance criteria and assigned a rating of AAA by S&P, (iii) are not rated by S&P but have been determined to be legally defeased by S&P or (iv) have been determined to be economically defeased by S&P and assigned a rating no lower than the rating that is S&P equivalent of S&P’s AAA rating. In the event that a defeased obligation which is an S&P Eligible Asset does not meet the criteria of an Escrowed Bond, such Municipal Bond will be deemed to remain in the Issue Type Category into which it fell prior to such defeasance. This amendment is effective as of November 2, 2007. XXXXXX MANAGED MUNICIPAL INCOME TRUST Amendment to Amended and Restated Bylaws

Escrowed Bonds means Municipal Bonds that (i) have been determined to be legally defeased in accordance with S&P’s legal defeasance criteria, (ii) have been determined to be economically defeased in accordance with S&P’s economic defeasance criteria and assigned a rating of AAA by S&P, (iii) are not rated by S&P but have been determined to be legally defeased by S&P or (iv) have been determined to be economically defeased by S&P and assigned a rating no lower than the rating that is S&P equivalent of S&P’s AAA rating. In the event that a defeased obligation which is an S&P Eligible Asset does not meet the criteria of an Escrowed Bond, such Municipal Bond will be deemed to remain in the Issue Type Category into which it fell prior to such defeasance. Notwithstanding the foregoing, all aforementioned definitions and limitations are further subject to the requirements and limitations as set forth in “Methodology And Assumptions For Market Value Securities” published by Standard & Poor’s Ratings Services on September 17, 2013. This Amendment is effective as of March 21, 2014. 115 XXXXXX MANAGED MUNICIPAL INCOME TRUST Amendment to Amended and Restated Bylaws WHEREAS, Article 14, Section 14.1 of the Amended and Restated Bylaws (the “Bylaws”) of Xxxxxx Managed Municipal Income Trust (the “Trust”) permits the Trustees to amend or to repeal the Bylaws except as otherwise expressly stated in the Bylaws.

Escrowed Bonds means bonds the terms of which require: (a) ninety-five per cent or more of the proceeds of such bonds are escrowed until the occurrence of a specified event or events,

Escrowed Bonds means Municipal Obligations that (i) have been determined to be legally defeased in accordance with S&P's legal defeasance criteria, (ii) have been determined to be economically defeased in accordance with S&P's economic defeasance criteria and assigned a

Escrowed Bonds shall have the meaning specified in guidelines provided by a rating agency, as may be amended from time to time by a rating agency, in connection with that rating agency’s ratings of shares of MuniPreferred.