Substitute Escrowed Securities definition
Substitute Escrowed Securities means non-callable direct obligations of the United States of America, which have been acquired by the Escrow Agent and substituted for Escrowed Securities in accordance with Section 8 of this Agreement.
Substitute Escrowed Securities means non-callable direct obligations of the United States of America, which have been acquired by the Escrow Agent and substituted for Escrowed Securities in accordance with Section 8 of this Escrow Agreement.
Substitute Escrowed Securities means Defeasance Obligations that have been acquired by the Escrow Agent and substituted for Escrowed Securities in accordance with Section 8 of this Escrow Agreement.
Examples of Substitute Escrowed Securities in a sentence
The Escrow Agent shall purchase such Substitute Escrowed Securities with the proceeds derived from the sale, transfer, disposition or redemption of the Escrowed Securities together with any other funds available for such purpose.
If the original Escrowed Securities become available and are tendered to the Escrow Agent, the Escrow Agent shall accept such Escrowed Securities, shall return the Substitute Escrowed Securities and shall notify Special Counsel and the City of the transaction.
More Definitions of Substitute Escrowed Securities
Substitute Escrowed Securities means non-callable direct obligations of the United States of America, evidences of a direct ownership interest in the interest component of obligations of the Resolution Funding Corporation or non-prepayable securities fully and unconditionally guaranteed as to the timely payment of principal and interest by the United States of America, provided, that the full faith and credit of the United States of America has been pledged to any such direct obligation or guarantee, which has been acquired by the Escrow Agent and substituted for Escrowed Securities in accordance with Section 6 of this Agreement; provided, however, Substitute Escrowed Securities do not include money market mutual funds that invest in the obligations described in this definition.
Substitute Escrowed Securities means securities that satisfy the requirement of Defeasance Obligations as set forth in the Refunded Bonds Resolution, which have been acquired by the Escrow Agent and substituted for Escrowed Securities in accordance with the Escrow Agreement.
Substitute Escrowed Securities means securities that satisfy the requirement of Defeasance Obligations as set forth in the Series 2006 Bond Ordinance, which have been acquired by the Escrow Agent and substituted for Escrowed Securities in accordance with Section 8 of this Agreement.