Excess Bond Proceeds definition

Excess Bond Proceeds means Bond Proceeds that are not needed to satisfy Enforceable Obligations listed on an approved ROPS.
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Excess Bond Proceeds means Bond Proceeds that are not needed to satisfy Enforceable Obligations approved on a ROPS.
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Excess Bond Proceeds means proceeds of a Series of Bonds, and all investment earnings thereon, transferred from the Facility Fund to the Principal Account or the Purchase Account of the Bond Fund pursuant to Section 5.5(a), Section 5.10 or Section 5.11 of this Indenture.
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Examples of Excess Bond Proceeds in a sentence

  • The Parties shall cooperate with each other as may be necessary to ensure that the Excess Bond Proceeds are expended in a manner consistent with this Agreement.

  • The City may, in its sole discretion, modify the Bond Spending Plan to allow the transfer of funds between projects, activities, and programs so long as sufficient Excess Bond Proceeds are available and the transfer is consistent with applicable laws and the basic purposes for which the bonds were sold.

  • At the City’s option, the assignment of any contract may involve only a partial assignment of the contractual payment obligation, which shall be payable by the City from the Excess Bond Proceeds.

  • Xxxxxxxx, who acknowledged himself to be the Senior Vice President of Farmington Casualty Company, F i delity and Guaranty Insurance Company , F i delity and Guaranty Insurance Underwriters, Inc .

  • The City agrees that it shall use the Excess Bond Proceeds solely for the purposes identified in this Agreement for construction of the Project, or if otherwise directed at a future date, and with approval of the Oversight Board for other public improvement projects consistent with the Bond covenants and applicable provisions of the CRL.

  • The City shall not take nor allow any recipient of the Excess Bond Proceeds to take any action that results in the inclusion in gross income from federal or State of California income tax purposes of the interest on the Excess Bond Proceeds derived from the tax-exempt bond issuances.

  • The term of this Agreement shall commence on the Effective Date and shall continue in effect until the date that all Excess Bond Proceeds are expended in accordance with the requirements of this Agreement or are returned to the Successor Agency.

  • This Agreement shall not relieve the Successor Agency from paying, and shall not transfer the Successor Agency’s obligation to pay, the outstanding debt service obligations owed with respect to the Excess Bond Proceeds.

  • Assuming that the Oversight Board and the DOF approve such line item in ROPS 14-15B, or any subsequent ROPS, the Successor Agency shall transfer to the City, within thirty (30) days after the applicable ROPS time period commences, the outstanding balance of the Excess Bond Proceeds currently held by the Successor Agency in the estimated total amount of $60,721,656.

  • Subject to the covenants herein, the City shall have the sole responsibility with respect to the planning, design, specification, and implementation with respect to all components of the projects, programs and activities to be funded by the City with Excess Bond Proceeds.


More Definitions of Excess Bond Proceeds

Excess Bond Proceeds means up to $800,000 of the proceeds derived from the sale of the Bond, but in no case an amount greater than the amount not disbursed under Section 7(b) of the Escrow Deposit Agreement because of the Borrower's inability to provide acceptable collateral pursuant to the terms of such Section 7(b). The Bond is subject to mandatory redemption, in whole but not in part, at its principal amount plus accrued interest to the date of redemption upon occurrence of any of the following events: (a) all or substantially all the Building (as defined in the Loan Agreement) shall have been damaged or destroyed to such extent that in the reasonable opinion of the Holder, the repair and restoration of the Building or use of a replacement building is economically not practicable or cannot be accomplished within twelve months, or (b) there occurs the condemnation of all or substantially all the Facility (as defined in the Loan Agreement) or the taking by eminent domain of such use or control of the Facility as to render it unsatisfactory to the Borrower for its intended use for a period of time longer than twelve months and the Borrower does not commence operations in a replacement Facility satisfactory to the Borrower within twelve months. Notice of redemption with respect to the Bond shall be mailed first-class, postage prepaid, not less than thirty days prior to the redemption date, to each holder of the Bond to be redeemed. If less than all the Bond is subject to redemption, the Borrower shall determine and designate the principal of the Bond to be redeemed.
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Excess Bond Proceeds means Bond Proceeds that are not needed to satisfy Enforceable Obligations (other than this Agreement) approved on a ROPS. As of the date of this Agreement, the Remaining Bond Proceeds qualify as Excess Bond Proceeds.
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Related to Excess Bond Proceeds

  • Bond Proceeds means the proceeds from the sale of bonds, notes, and other obligations issued by a district, and reserves and funds maintained by a district for debt service purposes.

  • Loss Proceeds means, collectively, all Insurance Proceeds and all Condemnation Proceeds.

  • Qualified Proceeds means assets that are used or useful in, or Capital Stock of any Person engaged in, a Similar Business; provided that the fair market value of any such assets or Capital Stock shall be determined by the Issuer in good faith.

  • Net Loss Proceeds means the aggregate cash proceeds received by the Company or any of its Restricted Subsidiaries in respect of any Event of Loss, including, without limitation, insurance proceeds, condemnation awards or damages awarded by any judgment, net of:

  • Declined Proceeds has the meaning assigned to such term in Section 2.11(b)(v).

  • Investment Proceeds means, with respect to any Determination Date, all interest and other investment earnings (net of losses and investment expenses) on funds on deposit in the Series 1996-1 Accounts, together with an amount equal to the Series 1996-1 Allocation Percentage of the interest and other investment earnings on funds held in the Collection Account credited as of such date to the Collection Account pursuant to Section 4.02 of the Agreement.

  • Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower, any Parent Guarantor or any of their respective Subsidiaries in connection therewith, but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first-priority Lien permitted by Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Net Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower or any of its U.S. Subsidiaries in connection with such Casualty Event (net of all collection or similar expenses related thereto), but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first priority Lien permitted by clause (d) of Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Condemnation Proceeds All awards or settlements in respect of a Mortgaged Property, whether permanent or temporary, partial or entire, by exercise of the power of eminent domain or condemnation, to the extent not required to be released to a Mortgagor in accordance with the terms of the related Mortgage Loan Documents.

  • Loss Proceeds Account has the meaning set forth in Section 3.3(a).

  • Excluded Proceeds means, with respect to any Asset Sale or Casualty Event, the sum of, (1) any Net Proceeds therefrom that constitute Declined Proceeds and (2) any Net Proceeds therefrom that otherwise are waived by the Required Facility Lenders from the requirement to be applied to prepay the applicable Term Loans pursuant to Section 2.05(2)(b).

  • Total Loss Proceeds means the proceeds of any insurance or any compensation or similar payment arising in respect of a Total Loss.

  • Cash Proceeds means proceeds that are money, checks, deposit accounts, or the like.

  • Equity Issuance Proceeds means, with respect to any Equity Issuance, all cash and cash equivalent investments received by the Borrower or any of its Subsidiaries from such Equity Issuance after payment of, or provision for, all underwriter fees and expenses, SEC and blue sky fees, printing costs, fees and expenses of accountants, lawyers and other professional advisors, brokerage commissions and other out-of-pocket fees and expenses actually incurred in connection with such Equity Issuance.

  • Sales Proceeds means, with respect to any Transaction Vehicle, an amount equal to the aggregate amount of proceeds received by the Servicer from the purchaser in connection with the sale or other disposition of such Transaction Vehicle, net of any and all out-of-pocket costs and expenses incurred by the Servicer in connection with such sale or other disposition, including without limitation, all repossession, auction, painting, repair and any and all other similar liquidation and refurbishment costs and expenses.

  • Proceeds all “proceeds” as such term is defined in Section 9-102(a)(64) of the New York UCC and, in any event, shall include, without limitation, all dividends or other income from the Investment Property, collections thereon or distributions or payments with respect thereto.

  • Sale Proceeds means the net proceeds from the sale and/or realisation of the Charged Assets (excluding any Charged Assets which comprise cash) by the Realisation Agent in accordance with the Conditions (after deduction therefrom by the Realisation Agent of its usual fees and any costs and expenses incurred in connection with the sale of such Charged Assets). 7. Additional Provisions:

  • Net Condemnation Proceeds The Condemnation Proceeds received with respect to any Mortgage Loan or Serviced Companion Loan (including an REO Mortgage Loan or REO Companion Loan) net of the amount of (i) costs and expenses incurred with respect thereto and (ii) amounts required to be applied to the restoration or repair of the related Mortgaged Property; provided that, in the case of an Outside Serviced Mortgage Loan, “Net Condemnation Proceeds” under this Agreement shall be limited to any related Condemnation Proceeds that are received by the Trust Fund in connection with such Outside Serviced Mortgage Loan, pursuant to the allocations set forth in the related Co-Lender Agreement.

  • Insurance Proceeds With respect to each Mortgage Loan, proceeds of insurance policies insuring the Mortgage Loan or the related Mortgaged Property.

  • Net Proceeds Amount means, with respect to any Transfer of any property by any Person, an amount equal to the difference of

  • Principal Proceeds With respect to any Collection Period or Determination Date, all amounts received by the Issuer during the related Collection Period that do not constitute Interest Proceeds and any other amounts that have been designated as Principal Proceeds pursuant to the terms of this Indenture.

  • Collateral Proceeds means the Liquidation Proceeds of the Relevant Collateral or any Undeliverable Assets forming part of the Relevant Collateral (as the case may be) denominated in the Settlement Currency.

  • Purchase Proceeds means any cash amounts received by the Master Servicer in connection with: (i) the repurchase of a Mortgage Loan or an REO Mortgage Loan by a Seller pursuant to Section 2.3 or (ii) the purchase of the Mortgage Loans and REO Properties by the Depositor, the Master Servicer, the Special Servicer or the holders of the Class R-I Certificates pursuant to Section 10.1(b).