Universal Cap definition

Universal Cap means the Value of all outstanding Bonds.

Universal Cap means, on any date, either (i) the present value of the Obligations determined by taking into account all unconditionally payable payments of principal, interest and fees for a Qualified Guarantee to be paid on or after that date, using the yield on the Obligations as the discount rate, or (ii) in the case of any Obligations which are Plain Par Bonds, the outstanding stated principal amount of such Obligations, plus accrued unpaid interest.

Universal Cap means the value of all then outstanding Series 2011A Certificates.

Examples of Universal Cap in a sentence

• Under Executive Order 13609 (“Promoting International Regulatory Cooperation”), agencies must consider whether the impacts associated with significant variations between domestic and international regulatory approaches are unnecessary or may impair the ability of American businesses to export and compete internationally.

• Amounts cease to be allocated to an issue as Proceeds only when those amounts (i) are allocated to an expenditure for a governmental purpose; (ii) are allocated to Transferred Proceeds of another issue of obligations; or (iii) cease to be allocated to that issue at retirement of the issue or under the Universal Cap.

• The Universal Cap provides an overall limitation on the amount of Gross Proceeds allocable to an issue.

• Asset transfers pursuant to Universal Cap or other applicable rules.

• Gross Proceeds will be allocated to the Obligations as Proceeds until those amounts are properly allocated to an expenditure for a governmental purpose or are allocated to Transferred Proceeds of another issue, or cease to be allocated to the Obligations under the Universal Cap.

More Definitions of Universal Cap

Universal Cap means the Value of all outstanding Series 2017 Bonds.

Universal Cap means the value of all then outstanding Series 2008 Certificates.

Universal Cap means the value of all then outstanding Series 2009 Certificates.

Universal Cap means the Value of all outstanding Series 2016 Bonds.

Universal Cap means the value of all then outstanding Series 2016A Certificates.

Universal Cap means the maximum value of Nonpurpose Investments which may be allocated to the Obligation and is determined by reference to the Value of all outstanding Obligation of the issue.

Universal Cap means the Value of all then outstanding bonds of the issue.