Initial Stated Amount definition

Initial Stated Amount has the meaning set forth in Section 2.1(a) hereof. “Interest Component” has the meaning set forth in the Letter of Credit.

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Initial Stated Amount has the meaning set forth in Section 2.1(a) hereof.

Initial Stated Amount means $78,314,439 with respect to the --------------------- Letter of Credit supporting the Series A Bonds and $44,896,877 with respect to the Letter of Credit supporting the Series C Bonds. "Interest Component" has the meaning assigned to that term in the ------------------ second Preliminary Statement herein. "Interest Period" means, with respect to a Eurodollar Rate --------------- Advance, a period of one day or one month, in each case as elected by the Company pursuant to Section 2.05(b); provided that any such Interest Period -------- that would end on a day that is not a Business Day shall be extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day; and provided, further that no Interest Period shall -------- ------- extend beyond the scheduled repayment date of an Advance. "Issuer" has the meaning assigned to that term in the first ------ Preliminary Statement hereto. "Laws" means, collectively, all foreign, federal state and local ---- statutes, treaties, rules, regulations, ordinances, codes and administrative or controlling precedents of any Governmental Agency. "LC Bank" or "Letter of Credit Bank" means Barclays Bank PLC, New ------- --------------------- York Branch. "Letter of Credit" and "Letters of Credit" have the meanings ---------------- ----------------- assigned to those terms in the second Preliminary Statement hereto. "Level I Status" exists for any day if, on such day, the Company -------------- has a Designated Rating of (i) A or higher by S&P or (ii) A2 or higher by Moody's. "Level II Status" exists for any day if, on such day, (a) Level I --------------- Status does not exist and (b) the Company has a Designated Rating of (i) BBB+ or higher by S&P or (ii) Baa1 or higher by Moodys. "Level III Status" exists for any day if, on such day, (a) Level I ---------------- or II Status does not exist and (b) the Company has a Designated Rating of (i) BBB by S&P or (ii) Baa2 by Moody's. "Level IV Status" exists for any day if, on such day, (a) Level I, --------------- II or III Status does not exist and (b) the Company has a Designated Rating of (i) BBB- by S&P or (ii) Baa3 by Moody's. "Level V Status" exists for any day if, on such day, (a) Level I, -------------- II, III or IV Status does not exist and (b) the Company has a Designated Rating of (i) below BBB- by S&P or is unrated or (ii) below Baa3 by Moody's or is...

Examples of Initial Stated Amount in a sentence

• Notwithstanding the foregoing and anything set forth herein to the contrary, the City agrees not to permanently reduce the Initial Stated Amount of the Letter of Credit except in accordance with the terms of the Commercial Paper Documents.

• The Annual Agent's Fee shall be determined based on the Initial Stated Amount on the date hereof, and on each February 1 after the date hereof, and shall be payable quarterly by the Company in immediately available funds, in advance, on each of the Fee Dates; provided that a prorated portion of the Annual Agent's Fee shall be paid on the date hereof and on the last Fee Date prior to the Termination Date.

• In consideration of the issuance of the Letter of Credit, the Company hereby agrees to pay to the Bank an annual agent's fee (the ANNUAL AGENT'S FEE) equal to .25% per annum of the Initial Stated Amount from the date hereof through the Termination Date.

• The denominations of each Subclass of the Class A CitiCertificates (other than the Class A-__ and Class A-__ CitiCertificates), Class M, Class B-1 and Class B-2 CitiCertificates are $1,000 Initial Stated Amount and integral multiples of $1 in excess thereof and the Class B-3, Class B-4 and Class B-5 CitiCertificates are $100,000 Initial Stated Amount and integral multiples of $1,000 in excess thereof (except that one CitiCertificate of each Class or Subclass may be issued in a different denomination).

• At the request of the Company, the ---------------- Bank shall, subject to the terms and conditions hereof, issue the Letter of Credit substantially in the form of Exhibit "A" attached hereto (the "Letter of ----------- Credit") in the Initial Stated Amount for the account of the Company and shall deliver the Letter of Credit to the Trustee.

• The Initial Stated Amount for each Subclass of the Class A CitiCertificates (or, in the case of the Class A-__, Class A-__ and Class A-IO CitiCertificates, their respective initial notional amounts), for the Class M CitiCertificates, for each Subclass of the Class B CitiCertificates [and for the Class L Regular Interests] are as set forth in Section 12.01(a).

• The minimum number of Single Certificates eligible for wire transfer on each Distribution Date, in the case of CitiCertificates, is 1,000,000 (representing a $1,000,000 Initial Stated Amount or initial notional amount) and, in the case of the Residual Certificates, a 100% Percentage Interest.

• The Company hereby applies to the Bank for and authorizes and instructs the Bank to issue the Letter of Credit in the Initial Stated Amount.

• Borrower hereby applies to GECC and GEGF and requests and authorizes GECC to issue the Letter of Credit, in the Initial Stated Amount thereof, for the benefit of Trustee and for the account of Borrower.

More Definitions of Initial Stated Amount

Initial Stated Amount has the meaning set forth in Section 2.1 of this Agreement.

Initial Stated Amount means $35,090,875, the maximum amount available to be drawn under the Letter of Credit as of the Closing Date.

Initial Stated Amount means the amount available to be drawn under the Letter of Credit as of the Date of Issuance, as set forth therein and on the cover page hereof. Such amount shall be the sum of the Aggregate Principal Amount of the Bonds plus 49 days' interest computed at the Maximum Bond Interest Rate.

Initial Stated Amount means the Stated Amount of the Letter of Credit on the Date of Issuance.

Initial Stated Amount means Three Million Six Hundred Twenty-Four --------------------- Thousand Dollars ($3,624,000.00), the amount available to be drawn under the Letter of Credit as of the Date of Issuance, as set forth therein.

Initial Stated Amount means $3,725,370.00.