Excluded Principal definition
Excluded Principal means the principal amount of any Bond or principal amount due under any Contract for which there is on file with the Bank: (1) a certificate of an Independent Municipal Advisor to the effect that such Bond or Contract constitutes commercial paper or is otherwise of a revolving or short-term nature and has a maturity of less than 42 months; and (2) a certificate of an Authorized Representative of the District to the effect that the principal amount of such Bond or principal amount due under such Contract is not, as of the date of the certificate, due and payable, and that the District intends to pay such principal from the proceeds of Bonds or Contracts or other bonds, notes or other obligations of the District. No such determination shall affect the security for such Bonds or Contracts or the obligation of the District to pay such Bonds or Contracts from Net Revenues.
Excluded Principal means the following [types of] Principal[s]: [●].]11 [Additional Covered Principals: [ ]] 1 Include only if Appendix B is attached. 2 Include only if Market Counterparty and Agent have agreed to extend the definition of “Restricted Delivery Party” beyond Principals that are UCITS Funds (as per the definition of such terms in the Additional Provisions).
Excluded Principal means each payment of principal of any Bond or Contract for which there is on file with the Authority Lender (i) a certificate of an Independent Municipal Consultant to the effect that such Bond or Contract is commercial paper or otherwise of a short term or revolving nature and has a maturity of less than 60 months and (ii) a certificate of the Manager to the effect that the District intends to pay such principal from the proceeds of Bonds or Contracts, Subordinate Debt or other bonds, notes or other obligations of the District. No such determination shall affect the security for such Bonds or Contracts or the obligation of the District to pay such Bonds or Contracts from Net Revenues.
Examples of Excluded Principal in a sentence
Notwithstanding the foregoing, in no event shall any Credit Party that is a Non-Con-way Subsidiary be merged, amalgamated or consolidated with or into, or transfer all or substantially all of its property or business to, a Con-way Subsidiary if such transaction would cause Equity Interests or any Principal Property owned by a Non-Con-way Subsidiary to become Excluded Principal Property, unless Borrower agrees that such property will not constitute Excluded Property.
The principal amount of the Series B Notes and the corresponding amount of any Advances are hereby determined to be Excluded Principal Payments intended to be paid from the proceeds of debt obligations of the Commission, including without limitation, Series B Notes, grants received from the State or federal government, or any agency or instrumentality thereof, and other funds of the Commission, other than Revenues.
The Trustee shall deposit in the Principal Fund as soon as practicable in each month an amount equal to the principal amount of Notes maturing in the next forty (40) calendar days, or such longer period as shall be established in a Supplemental Indenture, which the Commission certifies in writing to the Trustee shall be paid from Revenues and which shall no longer be designated Excluded Principal Payments.
More Definitions of Excluded Principal
Excluded Principal means each payment of principal of any Obligation for which there is on file with the Trustee (i) a certificate of a Consultant to the effect that such Obligation is commercial paper or otherwise of a revolving or short-term nature and has a maturity of less than 60 months and (ii) a Certificate of the Authority to the effect that the Authority intends to pay such principal from the proceeds of Bonds or Contracts or other bonds, notes or other obligations of the Authority. No such determination shall affect the security for such Obligation or the obligation of the Authority to pay such Obligations from Pledged Revenues.
Excluded Principal means each payment of principal of any Parity Obligation for which there is on file with the Lender a certificate of an Independent Financial Consultant to the effect that such Parity Obligation is commercial paper or otherwise of a short term or revolving nature and has a maturity of less than sixty (60) months and (b) a certificate of the General Manager to the effect that the Agency intends to pay such principal from the proceeds of Parity Obligations, other bonds, notes or other obligations of the Agency. No such determination shall affect the security for such Parity Obligations or the obligation of the Agency to pay such Parity Obligations from Net Revenues.
Excluded Principal means each payment of principal of any obligation for which there is on file with the Authority and each trustee for Subordinate Debt (i) a certificate of a municipal advisor to the effect that such obligation is commercial paper or otherwise of a revolving nature, has a maturity of not more than 60 months and does not require periodic repayment of principal or (ii) a certificate of municipal advisor that the City intends to pay such principal from the proceeds of bonds, notes or other obligations of the City or moneys other than Sewer Treatment Facility Revenues. No such determination shall affect the security for such obligations or the obligation of the City to pay such obligations from Sewer Treatment Facility Revenues.
Excluded Principal means each payment of principal of any Obligation for which there is on file with the WIFIA Lender (a) a certificate of an Independent Municipal Consultant to the effect that such Obligation is commercial paper or otherwise of a short term or revolving nature and has a maturity of less than sixty (60) months and (b) a certificate of the Manager to the effect that the District intends to pay such principal from the proceeds of Obligations, other bonds, notes or other obligations of the District. No such determination shall affect the security for such Obligations or the obligation of the District to pay such Obligations from Net Revenues.
Excluded Principal means each payment of principal of Commission Bonds with a remaining term, on the date of calculation, of not greater than 60 months and which the Commission specifies in a Certificate of the Commission and filed with the Trustee that the Commission intends to pay from the proceeds of Commission Bonds or Parity Loans, other bonds, notes or other obligations of the Commission or moneys other than Net Revenues. No such determination shall affect the security for the Commission Bonds, Senior State Loans or Parity Loans or the obligation of the Commission to pay the Commission Bonds, Senior State Loans and Parity Loans from Net Revenues.
Excluded Principal means each payment of principal of System Obligations with a maturity of less than 42 months and which the Recipient specifies in a certificate signed by the General Manager of the Recipient and filed with the trustee for the System Obligation that the Recipient intends to pay from the proceeds of System Obligations, other bonds, notes or other obligations of the Recipient or moneys other than Revenues or Net Revenues. No such determination shall affect the security for such System Obligations or the obligation of the Recipient to pay such System Obligations from Net Revenues.
Excluded Principal means each payment of principal of any Bond or Contract: (1) which is commercial paper or otherwise of a revolving or short-term nature and has a maturity of less than 60 months; and (2) for which a certificate of an authorized representative of the City has been prepared to the effect that the City intends to pay such principal from the proceeds of Bonds, Contracts, other bonds, notes or other obligations or moneys other than Revenues. No such determination shall affect the security for such Bonds or Contracts or the obligation of the City to pay such Bonds or Contracts from the sources set forth in the applicable resolution or contract.