Preference Amounts definition

Preference Amounts means any amount guaranteed pursuant to the Policy which is voided (a "Preference Event") under any applicable bankruptcy, insolvency, receivership or similar law in an Insolvency Proceeding, and, as a result of such a Preference Event, the Indenture Trustee or any Noteholder is required to return such voided payment, or any portion of such voided payment made or to be made in respect of the Notes (an "Avoided Payment").

Preference Amounts as defined in the Policy. ------------------

Preference Amounts. Any payment of principal or interest previously distributed by or on behalf of the Trust to a Holder of the Class A-3A Certificates, which would have been covered under the Policy as a Deficiency Amount if there had been a shortfall in funds available to make such payment on the required Distribution Date for such payment, which has been deemed a preferential transfer and has been recovered from such Holder pursuant to the United States Bankruptcy Code in accordance with an Order.

Examples of Preference Amounts in a sentence

• Any and all Insured Amounts and Preference Amounts disbursed by the Indenture Trustee from claims made under the Policy shall not be considered payment by the Issuer, and shall not discharge the obligations of the Issuer with respect thereto.

• Insured Payments due hereunder, unless otherwise stated herein, will be disbursed by the Fiscal Agent to the Trustee on behalf of the Owners by wire transfer of immediately available funds in the amount of the Insured Payment less, in respect of Insured Payments related to Preference Amounts, any amount held by the Trustee for the payment of such Insured Payment and legally available therefor.

• Any Preference Amounts paid by the Insurer shall be reimbursed to the Insurer as provided in Section 4.03 and 4.04(b).

• Notwithstanding the foregoing, the Trust shall continue and the Indenture Trustee shall pursue recovery of any Preference Amounts under the Policy and the distribution of the same to Noteholders until the Policy terminates by its own terms.

• Following such payment of Parity Preference Amounts to the holders of Parity Stock, and payment to the holders of any Senior Stock of any preferential amount to which they are entitled, the holders of the Junior Stock shall then be entitled, to the exclusion of the holders of Parity Stock or Senior Stock, to receive in cash or in kind, all remaining assets of the Corporation, if any, in accordance with their relative priorities in a Liquidation Event.

More Definitions of Preference Amounts

Preference Amounts. As defined in the Certificate Insurance Policy.

Preference Amounts means amounts owing because of a nonappealable order of a court of competent jurisdiction that any payments to a Holder of principal, Redemption Price or Purchase Price of, or interest on any Bond constituted a preferential transfer under the United States Bankruptcy Code (or any similar or successor law) due to an Act of Bankruptcy.

Preference Amounts means collectively the Series A Preference Amount, the Series B Preference Amount and the Series C Preference Amount.

Preference Amounts. Any amount guaranteed pursuant to the MBIA Policy which is voided (a "Preference Event") under any applicable bankruptcy, insolvency, receivership or similar law in an Insolvency Proceeding, and, as a result of such a Preference Event, the Trustee or any Class A Certificateholder is required to return such voided payment, or any portion of such voided payment made or to be made in respect of the Class A Certificates (an "Avoided Payment").

Preference Amounts means any cash received by the Partnership pursuant to Section 6.3(e)(ii) of the Fund Agreement.

Preference Amounts. As defined in the Class 3-A-2 Policy.

Preference Amounts. The meaning ascribed to such term in the Credit Enhancement Instrument.