Defeasance Trustee definition

Defeasance Trustee has the meaning set forth in Section 11.4.
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Defeasance Trustee shall have the meaning specified therefor in Section 10.05.
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Defeasance Trustee means an institution authorized to transact in the State of New York the business of a trust company selected by the Owner Trustee and approved by the Indenture Trustee; provided, that at the time of the delivery of cash and/or Government Obligations pursuant to this Section 10.05, the institution selected shall have a combined capital and surplus of at least $500,000,000 and shall not be an Affiliate of the Company, the Owner Participant or Shawmut Bank Connecticut, National Association.
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Examples of Defeasance Trustee in a sentence

  • The Issuer shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations or Eligible Obligations deposited pursuant to Section 15(d) or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the holders of the Outstanding Securities.

  • In the absence of an Order from the Issuer to return unclaimed funds to the Issuer, the Defeasance Trustee shall from time to time deliver all unclaimed funds to or as directed by applicable escheat authorities, as determined by the Defeasance Trustee in its sole discretion, in accordance with the customary practices and procedures of the Defeasance Trustee.

  • Any money deposited with the Defeasance Trustee for the payment of the principal of or any interest on any Security and remaining unclaimed for two years after such principal or interest has become due and payable shall be paid to the Issuer upon Order; and the holder of such Security shall thereafter, as an unsecured general creditor, look only to the Issuer for payment thereof and all liability of the Defeasance Trustee with respect to such trust money shall thereupon cease.

  • The Company or the Guarantors, as the case may be, shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 12.4 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Securities.

  • IRSA PC shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited by IRSA PC pursuant to ‎Section 11.4 or the principal, premium and interest received in respect thereof, other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Securities.

  • IRSA PC shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited by IRSA PC pursuant to Section 11.4 or the principal, premium and interest received in respect thereof, other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Securities.

  • The Issuer shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations or Eligible Obligations deposited pursuant to Section 14(d) or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the holders of the Outstanding Securities.

  • The Corporation shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 16(d) or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the holders of the Outstanding Securities of such Defeasance Group.

  • IRSA shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited by IRSA pursuant to Section 11.4 or the principal, premium and interest received in respect thereof, other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Securities.

  • The Company shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited by the Company pursuant to Section 10.4 or the principal, premium and interest received in respect thereof, other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Notes.


More Definitions of Defeasance Trustee

Defeasance Trustee means a bank or trust company which shall have a combined capital, surplus and undivided profits of not less than U.S. $750,000,000, shall be organized and doing business under the laws of the United States of America or a State thereof or Canada or a Province thereof, shall not be a Subsidiary or Affiliate of the Company and shall be acceptable to the holders of at least 66-2/3% in aggregate principal amount of each series of outstanding Notes then being defeased.
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Defeasance Trustee means an institution authorized to transact in the State of New York the business of a trust company selected by the Owner Trustee and approved by the Indenture Trustee; provided, that at the time of the delivery of cash and/or Government Obligations pursuant to this Section 10.05, the institution selected shall have a combined TRUST INDENTURE AND SECURITY AGREEMENT [N603SW] -49- 56 capital and surplus of at least $500,000,000 and shall not be an Affiliate of the Company, the Owner Participant or Shawmut Bank Connecticut, National Association.
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Related to Defeasance Trustee

  • Defeasance Agent means another financial institution which is eligible to act as Trustee hereunder and which assumes all of the obligations of the Trustee necessary to enable the Trustee to act hereunder. In the event such a Defeasance Agent is appointed pursuant to this Section, the following conditions shall apply:

  • Defeasance Date shall have the meaning set forth in Section 2.5.1(a)(i) hereof.

  • Defeasance Securities means (i) Federal Securities, (ii) noncallable obligations of an agency or instrumentality of the United States of America, including obligations that are unconditionally guaranteed or insured by the agency or instrumentality and that, on the date the Commissioners Court adopts or approves proceedings authorizing the issuance of refunding bonds or otherwise provide for the funding of an escrow to effect the defeasance of the Bonds are rated as to investment quality by a nationally recognized investment rating firm not less than "AAA" or its equivalent, (iii) noncallable obligations of a state or an agency or a county, municipality, or other political subdivision of a state that have been refunded and that, on the date the Commissioners Court adopts or approves proceedings authorizing the issuance of refunding bonds or otherwise provide for the funding of an escrow to effect the defeasance of the Bonds, are rated as to investment quality by a nationally recognized investment rating firm no less than "AAA" or its equivalent, and (iv) any other then authorized securities or obligations under applicable State law that may be used to defease obligations such as the Bonds.

  • Defeasance Event shall have the meaning set forth in Section 2.5.1(a) hereof.

  • Defeasance Deposit means an amount equal to the remaining principal amount of the Note, the Defeasance Payment Amount, any costs and expenses incurred or to be incurred in the purchase of U.S. Obligations necessary to meet the Scheduled Defeasance Payments and any revenue, documentary stamp or intangible taxes or any other tax or charge due in connection with the transfer of the Note or otherwise required to accomplish the agreements of Sections 2.4 and 2.5 hereof (including, without limitation, any fees and expenses of accountants, attorneys and the Rating Agencies incurred in connection therewith).

  • Defeasance Loan Those Mortgage Loans which provide the related Mortgagor with the option to defease the related Mortgaged Property.

  • Defeasance Period is defined in the Note, if applicable.

  • Defeasance Collateral means: (i) a Xxxxxxx Mac Debt Security, (ii) a Xxxxxx Mae Debt Security, (iii) U.S. Treasury Obligations, or (iv) FHLB Obligations.

  • Defeasance Obligations means any of the following obligations:

  • Covenant Defeasance Option is defined in Section 4.01(b) of the Indenture.

  • Legal Defeasance Option is defined in Section 4.01(b) of the Indenture.

  • Scheduled Defeasance Payments shall have the meaning set forth in Section 2.5.1(b) hereof.

  • Defeasance has the meaning specified in Section 1302.

  • Redemption and Paying Agent means, with respect to any Series, State Street Bank and Trust Company and its successors or any other redemption and paying agent appointed by the Fund with respect to such Series.

  • Issuing and Paying Agency Agreement means the issuing and paying agency agreement described on the cover page of this Agreement, as such agreement may be amended or supplemented from time to time.

  • Redemption and Paying Agent Agreement means, with respect to any Series, the Redemption and Paying Agent Agreement or other similarly titled agreement by and among the Redemption and Paying Agent for such Series and the Fund with respect to such Series.

  • NIM Trustee The trustee for the NIM Securities.

  • Co-Trustee has the meaning set forth in the Basic Servicing Agreement.

  • Liquidation Agent has the meaning set forth in Section 9.03.

  • Covenant Defeasance has the meaning specified in Section 1303.

  • trust money means money held in trust on behalf of third parties in a trust contemplated in terms of section 12 of the Act.

  • Trust Administrator [______________] Independent Accountants:

  • Issuing and Paying Agent means the party designated as such on the cover page of this Agreement, as issuing and paying agent under the Issuing and Paying Agency Agreement, or any successor thereto in accordance with the Issuing and Paying Agency Agreement.

  • Tender and Paying Agent means The Bank of New York Mellon or, with the prior written consent of the Liquidity Provider (which consent shall not be unreasonably withheld), any successor Person, which has entered into an agreement with the Fund to act in such capacity as the Fund’s tender agent, transfer agent, registrar, dividend disbursing agent, paying agent, redemption price disbursing agent and calculation agent in connection with the payment of regularly scheduled dividends with respect to VRDP Shares.

  • Special Sub-Custodian Each such duly appointed Special Sub-Custodian shall be listed on Schedule D hereto, as it may be amended from time to time by a Fund, with the acknowledgment of the Custodian. In connection with the appointment of any Special Sub-Custodian, and in accordance with Special Instructions, the Custodian shall enter into a sub-custodian agreement with the Fund and the Special Sub-Custodian in form and substance approved by such Fund, provided that such agreement shall in all events comply with the provisions of the 1940 Act and the rules and regulations thereunder and the terms and provisions of this Agreement.

  • Master Trust Trustee means the entity acting as trustee under the applicable Pooling and Servicing Agreement.