Defeasance Trustee definition

Defeasance Trustee has the meaning set forth in Section 11.4.

Defeasance Trustee shall have the meaning specified therefor in Section 10.05.

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.

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 the Director of Finance, or a financial institution selected

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.

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.