Preferred Stock Basic Maintenance Amount definition
Preferred Stock Basic Maintenance Amount means, as of any date on which the Surety Bond is not in effect, (x) the dollar amount equal to (a) the sum of (i) 100% of the aggregate principal amount of the Notes then outstanding; (ii) $100,250 times the number of shares of Preferred Stock then outstanding; (iii) the aggregate amount of accrued interest on the Notes then outstanding, from the most recent date to which interest has been paid or duly provided for (or, for purposes of calculating the Preferred Stock Basic Maintenance Amount prior to June 1, 1989 then from December 1, 1988) through the next succeeding Valuation Date, plus all interest to accrue on the Notes then outstanding during the 63 days following such Valuation Date; (iv) the aggregate amount of accumulated but unpaid dividends with respect to the Preferred Stock to such date; (v) the aggregate Projected Dividend Amount; (vi) the aggregate principal amount of any then outstanding indebtedness of the Corporation for money borrowed (other than the Notes) and (vii) the greater of $200,000 or the Corporation's current liabilities as of such date to the extent not otherwise reflected in any of (i) through (vi) above, less (b) the combined value of any Deposit Securities irrevocably deposited by the Corporation for the payment of principal of or interest on the Notes or redemptions of or dividend payments with respect to the Preferred Stock or (y) such other dollar amount calculated by a method established by the Rating Agencies in their sole discretion and designated in writing to the Corporation.
Preferred Stock Basic Maintenance Amount means, as of any date, the sum of (i) the aggregate liquidation preference of the shares of Fund Preferred Stock outstanding, (ii) to the extent not covered in (i), the aggregate amount of accumulated but unpaid cash dividends with respect to the shares of Fund Preferred Stock outstanding, (iii) the aggregate principal amount of any other then outstanding indebtedness of the Fund for money borrowed, (iv) an amount equal to the sum of (x) the aggregate accrued but unpaid interest on the indebtedness referred to in the foregoing clause (iii) and (y) an amount equal to 70 days of additional accrued interest on such indebtedness at the then-current interest rate(s) borne by such indebtedness, (v) the aggregate Projected Dividend Amount, (vi) redemption premium, if any, and (vii) the greater of $200,000 or an amount equal to projected expenses of the Fund (including, without limitation, fee and indemnification obligations of the Fund incurred in connection with any commercial paper program undertaken by the Fund or with any credit facility related thereto) for the next three month period.
Preferred Stock Basic Maintenance Amount means the Moody’s Preferred Stock Basic Maintenance Amount (if Moody’s is then rating the RP), the S&P Preferred Stock Basic Maintenance Amount (if S&P is then rating the RP) or a Substitute Rating Agency Basic Maintenance Amount (if a Substitute Rating Agency is then rating the RP), as the case may be.
Examples of Preferred Stock Basic Maintenance Amount in a sentence
The Deposit Securities deposited with the Paying Agent pursuant to the immediately preceding sentence and the shares of Preferred Stock to be redeemed shall be excluded from the calculation of Preferred Stock Basic Maintenance Amount and Portfolio Calculation (if applicable at such time).
A failure by the Corporation to deliver a Portfolio Valuation Report under this paragraph 7(a)(ii) shall be deemed to be delivery of a Portfolio Valuation Report indicating a value for all Eligible Portfolio Property of less than the Preferred Stock Basic Maintenance Amount, as of the relevant Valuation Date.
More Definitions of Preferred Stock Basic Maintenance Amount
Preferred Stock Basic Maintenance Amount means, initially, as of any date, the sum of (i) the aggregate liquidation preference of the shares of Fund Preferred Stock outstanding, (ii) to the extent not covered in (i), the aggregate amount of accumulated but unpaid cash dividends with respect to the shares of Fund Preferred Stock outstanding, (iii) the aggregate principal amount of, and an amount equal to accrued but unpaid interest on, any other then