Underlying Bonds definition

Underlying Bonds means R2035s government bonds issued by the Republic of South Africa (ISIN Code: ZAG000125972) with an aggregate nominal amount equal to ZAR75,000,000.

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Underlying Bonds means the portion of the bonds underlying the Portfolio Assets as set forth on Schedule I.

Underlying Bonds means the eligible bonds out of which Eligible Instruments are created. The list of eligible Underlying Bonds is available at http://www.bondbloX.com.

Examples of Underlying Bonds in a sentence

• No opinion, however, was expressed regarding the treatment of the interest on the Underlying Bonds under the tax laws of the State of Texas.

• The Grantor Trustee shall calculate the Available Funds received from the Underlying Bonds and the Grantor Trustee shall determine the amount to be distributed to each Certificateholder.

• Strip bonds and strip bond packages relating to Underlying Bonds that are issued or guaranteed by the Government of Canada or issued by a province or territory of Canada are “qualified investments” under the Tax Act and are therefore eligible for purchase by trusts governed by registered retirement savings plans (“RRSPs”), registered retirement income funds (“RRIFs”), registered education savings plans (“RESPs”) and deferred profit sharing plans (“DPSPs”).

• In addition, the calculation may be impossible to perform for individual purchasers to the extent that the anniversary dates of the Underlying Bonds are unknown.

• On the Closing Date, the Depositor will acquire the Underlying Bonds.

• The Grantor Trustee will forward to each Certificateholder copies of any communications received regarding matters arising that require action by holders of the related Underlying Bonds.

• AMT: The opinion of Bond Counsel, rendered as described above, also was generally to the effect that, based on then existing laws, regulations and decisions and subject to certain conditions, interest on the Underlying Bonds is an item of tax preference as defined in Section 57(a)(5) of the Code, for purposes of determining the alternative minimum tax imposed on individuals and corporations under Section 59 of the Code.

• The Grantor Trustee hereby acknowledges the receipt by it of the Underlying Bonds and declares that it holds and will hold such Underlying Bonds and all other assets and documents included in the related Trust Fund, in trust, upon the trusts herein set forth, for the exclusive use and benefit of all present and future applicable Certificateholders in accordance with the terms of this Agreement.

• Prior to entering into such amendment or supplement, or prior to optionally redeeming the Underlying Bonds, the Administrator shall provide the Trustee and the Note Insurer with a certificate, signed by its president or a vice president, attesting that such action has occurred.

• Until the Principal Amount of the Notes has been reduced to zero and the Noteholders have received all amounts to which they are entitled under this Trust Agreement, neither Depositor will permit the respective Underlying Trust to issue any additional notes, bonds or other securities or change the mode used to calculate interest on the Underlying Bonds (I.E., from an auction rate to a fixed rate or a variable rate).

More Definitions of Underlying Bonds

Underlying Bonds means with respect to any BCE Reference Obligation, the fixed rate or variable rate, tax- exempt or taxable, municipal bonds or notes issued by a governmental agency or entity for which Freddie Mac provides credit enhancement pursuant to the related credit enhancement agreement entered into by Freddie Mac and the related trustee or custodian for such bonds under the TAH BCE Program, as further described under “The Reference Obligations—BCE Reference Obligations” in the Preliminary PPM.

Underlying Bonds means an Underlying Asset which is a bond;