Reserve Account Credit Facility definition

Reserve Account Credit Facility means a surety bond, an insurance policy, a letter of credit or other credit facility with respect to any Series of Senior Bonds which meets the requirements of Section 514.

Reserve Account Credit Facility means any letter of credit, insurance policy, line of credit, surety bond, or similar obligation, arrangement or instrument issued by a bank, insurance company, or other financial institution, together with any substitute or replacement therefor, if any, complying with the provisions of the Resolution, thereby fulfilling all or a portion of a Debt Service Reserve Requirement, if any.

Reserve Account Credit Facility means a surety bond, insurance policy, letter of credit, line of credit or other Credit Facility satisfying the requirements set forth in Section 518 of the Resolution.

Examples of Reserve Account Credit Facility in a sentence

• The Trustee shall pay to Providers of Reserve Account Credit Facilities any reimbursement which is payable from the Debt Reserve Account as provided by a Supplemental Indenture, and upon the written direction of an Authorized Officer shall use amounts in the Debt Reserve Account to acquire a Reserve Account Credit Facility.

• Standard penalties will be assessed for drops, falls, unintentional breaks or slips, undertime and overtime, failure to salute, improper salute, intentional contest delay, and rosin powder on floor.2. Out of Step-.5 per infraction.

• Alternatively, the Division, as provided in Section 4.02 of the Original Resolution, may elect at any time to provide in lieu of all or a portion of such funds a Reserve Account Credit Facility in an amount equal to the difference between the Reserve Requirement and the sums then on deposit in the Reserve Account.

• The incremental increase in the Reserve Requirement, if any, attributable to the Refunding Bonds shall be funded with proceeds of the Refunding Bonds, amounts previously on deposit in a reserve account on behalf of the Refunded Bonds, a Reserve Account Credit Facility, or some combination thereof, as determined by the Director.

• Licensor and HP agree that mutually acceptable copyright notices of Licensor shall be used for the Programs and any localizations of the Programs.

More Definitions of Reserve Account Credit Facility

Reserve Account Credit Facility means a Reserve Account Insurance Policy or a Reserve Account Letter of Credit.

Reserve Account Credit Facility means any letter of credit, insurance policy, line of credit, or surety bond, together with any substitute or replacement therefor, if any, complying with the provisions of the 2013 Bond Ordinance, thereby fulfilling all or a portion of the reserve requirement.

Reserve Account Credit Facility means an insurance policy, surety bond, letter or line of credit or similar instrument which may be utilized in the Reserve Account as security for the Series 2012 Bonds and any Parity Xxxx Xxxxx, the issuer or provider of which is rated in the highest rating category by S&P, Moody's or A.M. Best & Company.

Reserve Account Credit Facility means a surety bond, a policy of insurance, a letter of credit, or other financial product obtained by the County with respect to any Bonds, from an entity that is rated on the date of deposit in the Reserve Account in one of the two highest rating categories (without regard to gradation) by one or more Rating Agencies or their respective successors and which financial product provides for payment of Principal and Interest on such Bonds in amounts not greater than the Reserve Account Requirement for such Bonds in the event of an insufficiency of available moneys herein to pay when due principal of, premium, if any, and interest on such Bonds.

Reserve Account Credit Facility means a letter of credit issued by a United States bank or financial institution or foreign bank or financial institution with a branch in the United States, in each case having a long-term senior rating of no less than “A-” from S&P and “A3” from Moody’s which meets the requirements of Section 508(d) hereof.

Reserve Account Credit Facility means a policy of insurance, an irrevocable letter of credit, surety bond or other insurance or financial product which provides for payment of amounts equal to all or a portion of the Reserve Account Requirement in the event of an insufficiency of moneys in the Sinking Fund to pay principal of and interest on any Series or installment of the 1997 Bonds, and which meets the criteria set forth in Section 5.02 hereof.

Reserve Account Credit Facility has the same meaning as set forth in the Trust Agreement. Reserve Fund