Yield Reduction Payment definition
Examples of Yield Reduction Payment in a sentence
On or before each Computation Date, VPSA will prepare, or cause to be prepared, the Yield Reduction Payment required to be made with respect to each Locality in order to comply with the Yield Restriction Requirement on the basis of the Investment Reports maintained by the Investment Manager for each Proceeds Account.
To the extent permitted by law, each Locality agrees to provide for the payment of any Yield Reduction Payment required to comply with the Yield Restriction Requirement, from any funds that are, or may be made legally available, for such purpose.
Each Locality agrees to complete and to provide to VPSA such forms as VPSA may request for filing in connection with the payment of the Locality's Yield Reduction Payment.
All of the Locality Yield Reduction Payment as of each Computation Date must be paid to the United States within sixty (60) days of each Computation Date.
Such amount shall be the "Locality Yield Reduction Payment" as of the Computation Date.