Special Tender Event definition

Special Tender Event means, with respect to the 2019 Series Bonds issued to make the Freddie Mac Credit-Enhanced Mortgage Loan, either (a) receipt by the Agency and the Trustee of written notice from Freddie Mac that a default has occurred with respect to the Mortgagor’s reimbursement or payment obligations to Freddie Mac, together with a written direction from Freddie Mac to the Trustee to purchase all of such 2019 Series Bonds with amounts to be drawn under the Freddie Mac Credit Enhancement Instrument on a date specified in such direction by Freddie Mac, which date shall be twenty-five (25) days following receipt by the Trustee of such specification or, if such date is not a Business Day, then the next succeeding Business Day, or (b) receipt by Freddie Mac and the Trustee of written notice from the Agency that a default has occurred under the Regulatory Agreement relating to the Freddie Mac Credit-Enhanced Mortgage Loan, and that such default jeopardizes the exclusion of interest on the 2019 Series Bonds from gross income for Federal income tax purposes, together with a written direction from the Agency to the Trustee to purchase all of such 2019 Series Bonds on a date specified in such direction by the Agency with amounts in the Freddie Mac Purchase Fund on such specified date, which date shall be twenty-five (25) days following receipt by the Trustee of such direction or, if such date is not a Business Day, then the next succeeding Business Day.
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Special Tender Event means, with respect to the 2022 Series Bonds issued to make the Xxxxxxx Mac Credit-Enhanced Mortgage Loan, either (a) receipt by the Agency and the Trustee of written notice from Xxxxxxx Mac that a default has occurred with respect to the Mortgagor’s reimbursement or payment obligations to Xxxxxxx Mac, together with a written direction from Xxxxxxx Mac to the Trustee to purchase all of such 2022 Series Bonds with amounts to be drawn under the Xxxxxxx Mac Credit Enhancement Instrument on a date specified in such direction by Xxxxxxx Mac, which date shall be twenty-five (25) days following receipt by the Trustee of such specification or, if such date is not a Business Day, then the next succeeding Business Day, or (b) receipt by Xxxxxxx Mac and the Trustee of written notice from the Agency that a default has occurred under the Regulatory Agreement relating to the Xxxxxxx Mac Credit-Enhanced Mortgage Loan, and that such default jeopardizes the exclusion of interest on the 2022 Series Bonds from gross income for Federal income tax purposes, together with a written direction from the Agency to the Trustee to purchase all of such 2022 Series Bonds on a date specified in such direction by the Agency with amounts in the Xxxxxxx Mac Purchase Fund on such specified date, which date shall be twenty-five (25) days following receipt by the Trustee of such direction or, if such date is not a Business Day, then the next succeeding Business Day.
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Special Tender Event means, with respect to the 2022 Series __ Bonds issued to make the GSE Credit-Enhanced Mortgage Loan, either (a) receipt by the Agency and the Trustee of written notice from [Xxxxxx Mae/Xxxxxxx Mac] that a default has occurred with respect to the Mortgagor’s reimbursement or payment obligations to [Xxxxxx Mae/Xxxxxxx Mac] together with a written direction from [Xxxxxx Mae/Xxxxxxx Mac] to the Trustee to purchase all of such 2022 Series __ Bonds with amounts to be drawn under the [Xxxxxx Mae/Xxxxxxx Mac] Credit Enhancement Instrument on a date specified in such direction by [Xxxxxx Mae/Xxxxxxx Mac], which date shall be twenty-five (25) days following receipt by the Trustee of such specification or, if such date is not a Business Day, then the next succeeding Business Day, or (b) receipt by [Xxxxxx Mae/Xxxxxxx Mac] and the Trustee of written notice from the Agency that a default has occurred or continues under the Regulatory Agreement relating to the GSE Credit- Enhanced Mortgage Loan, and that such default jeopardizes the exclusion of interest on the 2022 Series __ Bonds from gross income for Federal income tax purposes, together with a written direction from the Agency to the Trustee to purchase all of such 2022 Series __ Bonds on a date specified in such direction by the Agency with amounts in the [Xxxxxx Xxx/Xxxxxxx Mac] Purchase Fund on such specified date, which date shall be twenty-five (25) days following receipt by the Trustee of such direction or, if such date is not a Business Day, then the next succeeding Business Day.
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Examples of Special Tender Event in a sentence

  • Notification of Special Mandatory Tender Upon the occurrence of a Special Tender Event, the Trustee shall give notice that the 2016 Bonds are subject to mandatory tender for purchase in whole at the Purchase Price on a Special Mandatory Tender Date on or prior to the Conversion Date.


More Definitions of Special Tender Event

Special Tender Event means receipt by the Trustee of written Notice from the Letter of Credit Bank that an “Event of Default” has occurred under the Letter of Credit Agreement together with a written direction from the Letter of Credit Bank to the Trustee to purchase all of the Bonds on a date specified in such direction by the Letter of Credit Bank, which date shall not be later than eight (8) days following receipt by the Trustee of such direction.
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Related to Special Tender Event

  • Mandatory Tender Event means (a) each failure by the Fund to make a scheduled payment of dividends on a Dividend Payment Date; (b) the occurrence of a Liquidity Provider Ratings Event (which shall constitute a single Mandatory Tender Event upon the occurrence of such Liquidity Provider Ratings Event, whether or not continuing and whether or not such Liquidity Provider Ratings Event also results in a Mandatory Purchase Event; provided that, a subsequent Liquidity Provider Ratings Event, following restoration of the short-term debt ratings to the requisite level, shall constitute a new Mandatory Tender Event); (c) in the event of a failure by the Fund to pay the Liquidity Provider the applicable fee due in advance under the terms of the VRDP Fee Agreement by seven Business Days prior to the beginning of the month to which such payment relates if the Liquidity Provider (in its sole discretion) thereafter provides written notice to the Fund that such failure to pay such fee constitutes a Mandatory Tender Event; (d) the eighth day prior to the scheduled date of the occurrence of an Extraordinary Corporate Event; (e) the Fund shall have obtained and delivered to the Tender and Paying Agent an Alternate VRDP Purchase Agreement by the fifteenth day prior to the Scheduled Termination Date, Liquidity Provider Ratings Event Termination Date or Related Party Termination Date, as the case may be, of the VRDP Purchase Agreement being replaced; (f) the Fund shall have provided a Notice of Proposed Special Rate Period in accordance with this Statement; or (g) in the event of a breach by the Fund of its Effective Leverage Ratio covenant with the Liquidity Provider in the VRDP Fee Agreement and the failure to cure such breach within 60 days from the date of such breach (which 60-day period would include the Effective Leverage Ratio Cure Period), if the Liquidity Provider (in its sole discretion) thereafter provides written notice to the Fund that the failure to timely cure such breach constitutes a Mandatory Tender Event (subject to the Fund curing such breach prior to the delivery date of such notice from the Liquidity Provider).

  • Legal tender means a medium of exchange, including specie, that is authorized by the United States Constitution or Congress for the payment of debts, public charges, taxes and dues.

  • Optional Tender means any tender of VRDP Shares by a Beneficial Owner or its Agent Member to the Tender and Paying Agent, other than a Mandatory Tender, for Remarketing or, in the event (i) no Remarketing occurs on or before the Purchase Date, or (ii) pursuant to an attempted Remarketing VRDP Shares remain unsold and the Remarketing Agent does not purchase for its own account the unsold VRDP Shares tendered to the Tender and Paying Agent for Remarketing (provided that the Remarketing Agent may seek to sell such VRDP Shares in a subsequent Remarketing prior to the Purchase Date), for purchase by the Liquidity Provider pursuant to Section 1 of Part II of this Statement and the VRDP Purchase Agreement.

  • e-Tender means Bids / Quotation / Tender received from a Firm / Tenderer / Bidder online.

  • U.S. Legal Tender means such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts.

  • Mandatory Tender Date means any date on which a Multi-Modal Bond is subject to mandatory tender in accordance with the Certificate.

  • Mandatory Tender with respect to a Mandatory Tender Event, means the mandatory tender of all VRDP Shares by Holders for Remarketing, or, in the event (i) no Remarketing occurs on or before the Purchase Date or (ii) pursuant to an attempted Remarketing, VRDP Shares remain unsold and the Remarketing Agent does not purchase for its own account the unsold VRDP Shares tendered to the Tender and Paying Agent for Remarketing (provided, that the Remarketing Agent may seek to sell such VRDP Shares in a subsequent Remarketing prior to the Purchase Date), for purchase by the Liquidity Provider at the Purchase Price pursuant to Section 2 of Part II of the Articles Supplementary and the VRDP Shares Purchase Agreement.

  • Mandatory Prepayment Event has the meaning specified in Section 2.03(b)(i).

  • Mandatory Tender Notice means, in connection with the Mandatory Tender of VRDP Shares, a notice delivered by the Fund or the Tender and Paying Agent on behalf of the Fund to the Holders and the Liquidity Provider specifying a Mandatory Tender Event and Purchase Date.

  • Repayment Event means any event or condition which gives the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

  • Approved tenderer means the tenderer who is approved by the Employer.

  • Foreign Prepayment Event has the meaning assigned to such term in Section 2.11(g).

  • Asset Sale Prepayment Event shall not include any transaction permitted by Section 10.4 (other than transactions permitted by Section 10.4(b) and Section 10.4(o), which shall constitute Asset Sale Prepayment Events).

  • Successful Tenderer means the Tenderer declared technically and financially successful for the Project and with whom, the Contract Agreement shall be signed.

  • Open Tenders means the tenders invited in open and public manner and with adequate notice.

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Prepayment Event means any Asset Sale Prepayment Event, Debt Incurrence Prepayment Event, Casualty Event or any Permitted Sale Leaseback.

  • default value means a value derived from a typical value by the application of pre-determined factors and that may, in circumstances specified in this Directive, be used in place of an actual value;’;

  • Non-Payment Default means any event (other than a Payment Default) the occurrence of which entitles one or more Persons to accelerate the maturity of any Designated Senior Indebtedness.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Debt Incurrence Prepayment Event means any issuance or incurrence by the Borrower or any of the Restricted Subsidiaries of any Indebtedness (excluding any Indebtedness permitted to be issued or incurred under Section 10.1 other than Section 10.1(o) or, except to the extent accompanied by a corresponding reduction of the Revolving Credit Commitments Section 10.1(y)).

  • Permitted Prepayment Date means the Business Day after the second (2nd) anniversary of the first Payment Date

  • Request for Tender (RFT means the document(s) containing or referring to the Conditions of Tendering and Contract, the Annexure, Special Conditions of Contract (if any), Northern Territory Procurement Code, Scope of Services, Response Schedules, Drawings or Diagrams (if any) and any other document issued for the purposes of inviting tenders for the Services.

  • default fund means a default fund held by a CCP in accordance with Article 42 of Regulation (EU) No 648/2012;

  • Repurchase Event means the occurrence of a breach of any of the Seller’s representations and warranties in Section 3.1(a) or any other event which requires the repurchase of a Receivable by the Seller, under the Sale and Servicing Agreement.

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.