Available Money means all amounts as to which the Trustee and the Credit Facility Providers have received an Opinion of Counsel stating that no disbursement thereof pursuant to this Bond Indenture may be avoided or otherwise recovered under Section 547 (or under Section 550 in respect of such Section) of the Bankruptcy Code or under any similar provision of applicable state law in the event of the bankruptcy, insolvency, liquidation, reorganization, or similar proceeding in respect of the Issuer or the Borrower.
Available Money has the meaning stated in Section 1.01 of the Bond Indenture.
Available Money. , in relation to a person, means money held by, or on behalf of, the person, but does not include deposit money or money to which section 50b applies;
Examples of Available Money in a sentence
Summary AccountsBond Security Fund Restricted/Resolution Name Unrestricted2002 General Revenue Available Money, Loan Fund RResolution adopted Assets of the Fund Debt Service Fund R Dec.
Discontinuance of Rental Payments when Available Money is AdequateSECTION 5.08.
The employer , in this care, cannot claim the overtime pay exemption and must pay overtime at one and a half times the regular rate of pay for all hours worked over 40 in the workweek. Workers who work 24-hour shifts but are not residing on the employer’s premises “permanently” or for “extended periods of time” are not considered live-in domestic service workers and, thus, the workers must be paid overtime at one and a half times the regular rate of pay for all hours worked over 40 in the workweek.
Summary of Bond Resolutions Resolutions Security General Revenue Available Money Resolution adopted Assets of the Fund Dec.
First call against Available Money relates to the ‘best consideration’ review (of the property purchase price) which is expected to be completed by summer 2014.
More Definitions of Available Money
Available Money. , in relation to a person, means money that:
Available Money means (i) money derived from drawings under the Letter of Credit, (ii) money held by the Trustee in funds and accounts established under this Indenture for a period of at least one hundred twenty-four (124) days and not commingled with any money so held for less than said one hundred twenty-four (124) day period, provided that during and prior to such period no petition in bankruptcy was filed by or against the Company or the Authority under the Bankruptcy Code or any applicable state bankruptcy or insolvency law, unless such petition was dismissed and all applicable appeal periods have expired without an appeal having been filed, (iii) investment income derived from the investment of money described in clauses (i) or (ii) of this definition, or (iv) any other money, if the Trustee and the Bank have received an opinion of Bankruptcy Counsel to the effect that payment of the principal, interest, purchase price or redemption price of the Bonds, as applicable, with such money would | not, in the event of bankruptcy of the Authority, the Company, any affiliate of the Company or other payor, constitute a voidable preference under the Bankruptcy Code or any applicable state bankruptcy or insolvency law.
Available Money means (i) proceeds of the Series 2009I Bonds, (ii) any payments or prepayments on a Ginnie Mae Certificate, (iii) any payments made by the Series 2009I Developer and held by the Trustee for a period of 365 days, if no Act of Bankruptcy has occurred during such period, or(iv) any money, including proceeds of refunding bond issues, with respect to which the Trustee has received an Opinion acceptable to the Rating Agency of nationally recognized bankruptcy counsel to the effect that the use by the Trustee of such money in accordance with the Series 2009I Supplemental Indenture would not constitute an avoidable preference or be subject to the automatic stay provisions of Sections 547 and 362(a), respectively, of the United States Bankruptcy Code or similar laws of the United States of America or the State in the event a petition in bankruptcy is filed by or against the Authority or the Series 2009I Developer.
Available Money means when used in connection with any particular Series 2009 Bond, whenever there is a Letter of Credit in effect for such Series 2009 Bond or is required by the Resolution to be maintained for such Series 2009 Bond:
Available Money means (i) money derived from drawings under the Letter of Credit, (ii) money held by the Trustee in funds and accounts established under this Indenture for a period of at least 91 days and not commingled with any money so held for less than said 91 day period, provided that during and prior to such period no petition in bankruptcy was filed by or against the Borrower or the Issuer under the Bankruptcy Code or any applicable state bankruptcy or insolvency law, unless such petition was dismissed and all applicable appeal periods have expired without an appeal having been filed, (iii) investment income derived from the investment of money described in clauses (i) or (ii) of this definition, or (iv) any other money, if the Trustee and the Bank have received an opinion of Bankruptcy Counsel to the effect that payment of the principal, interest, purchase price or redemption price of the Bonds, as applicable, with such money would not, in the event of bankruptcy of the Issuer, the Borrower, any affiliate of the Borrower or other payor, constitute a voidable preference under the Bankruptcy Code or any applicable state bankruptcy or insolvency law.
Available Money has the meaning set forth in the recitals set forth above and includes any Subsidiary corporation or entities of Available Money.
Available Money means (i) proceeds of drawings on the Credit Facility, including investment earnings thereon, (ii) proceeds of the remarketing of the Bonds deposited in the Bond Purchase Fund in accordance with Section 2.16 hereof, including the investment earnings thereon, (iii) the proceeds of any contracts, bonds or notes issued or incurred by or on behalf of the City to refund the Bonds, and (iv) moneys, including investment earnings thereon, for which an opinion of counsel experienced in bankruptcy matters has been delivered to the Trustee to the effect that the use of such amounts would not be voidable as preferential payments under federal bankruptcy laws.