Substitute Securities definition

Substitute Securities has the meaning specified in Section 3.01.

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Substitute Securities is defined in Section 15.

Substitute Securities shall have the meaning ascribed to such term in Section 7.2.

Examples of Substitute Securities in a sentence

• Such moneys, unless invested in Substitute Securities in accordance with Section 3.7 hereof, shall be distributed to Unitholders pursuant to Section 3.5 hereof on the Distribution Date following the failure of consummation of such purchase.

• Such Substitute Securities shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Section 3.3. The provisions of this Section 3.3 shall similarly apply to successive reclassifications, changes, consolidations, mergers, sales and transfers.

• Any Substitute Securities received by the Trustee shall be deposited hereunder and shall be subject to the terms and conditions of this Indenture to the same extent as other Securities deposited hereunder.

• No such deposit of Substitute Securities shall be made after the earlier of (i) 90 days after the date of execution and delivery of the applicable Reference Trust Agreement or (ii) the first Distribution Date to occur after the date of execution and delivery of the applicable Reference Trust Agreement.

• The Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of any purchase made pursuant to any such instructions from the Depositors and in the absence of such instructions the Trustee shall have no duty to purchase any Substitute Securities under this Indenture.

More Definitions of Substitute Securities

Substitute Securities means any securities acquired by Seller for investment prior to the Effective Time with the proceeds from the sale of the Municipal Securities.

Substitute Securities means any security:

Substitute Securities means (i) obligations fully guaranteed by the United States of America; (ii) demand deposits, time deposits or certificates of deposit of depository institutions or trust companies, the commercial paper, if any, of which has the highest rating from the rating agencies; (iii) commercial paper or other short-term obligations having, at the time of the investment therein, a rating in the highest rating category from the rating agencies; or (iv) notes or bankers' acceptances issued by any depository institutions or trust companies, the commercial paper, if any, of which has the highest rating from the rating agencies.

Substitute Securities has the meaning given to it in Paragraph 16(a). "Take-out Commitment" means, with respect to any Loan, an irrevocable commitment issued by an Authorized Purchaser in favor of the applicable originator, pursuant to which such Authorized Purchaser agrees to purchase such Loan at a specific price. "Termination Date" has the meaning given to it in Paragraph 3(b). "Transaction Notice" have the meaning assigned thereto in Paragraph 4 hereof. "Trust Receipt" means a Trust Receipt as defined in the related Custody Agreement. "Underwriting Guidelines" means the standards, procedures and guidelines of Seller for underwriting or originating Loans of the applicable previously submitted by Seller to, and approved by, Buyer. "Uniform Commercial Code" means the Uniform Commercial Code as in effect on the date hereof in the State of New York or the Uniform Commercial Code as in effect in the applicable jurisdiction.

Substitute Securities means any securities:

Substitute Securities has the meaning assigned to such term in Section 17(a) hereof.

Substitute Securities means securities of the Company or any other issuer which may be issued to the holders of and in exchange for Company Voting Securities in any merger, consolidation, exchange offer or other transaction.