Qualified obligations definition

Qualified obligations means obligations that meet 1 or more of the following:

Qualified obligations means, without duplication, (i) 2022 Purchase Payments; [(ii) 2020 Purchase Payments; (iii) 2016-A Purchase Payments; (iv) the 2015-A Purchase Payment, (v) the 2010 Purchase Payments; (vi) the 2008 Purchase Payments; (vii) the 2004 Purchase Payments]; and

Qualified obligations means, without duplication, (i) 2015-A Purchase Payments; (ii) 2010 Purchase Payments; (iii) 2008 Purchase Payments; (iv) the 2004 Purchase Payments; and (v) Bonds and Obligations which at the time of initial delivery thereof satisfy the covenant set forth in Section 5.5 hereof.

Examples of Qualified obligations in a sentence

• The money collected from insurance against accident, loss or damage shall be used for repairing or rebuilding the lost, damaged or destroyed works and properties, and to the extent not so applied, shall be applied to the retirement of outstanding Senior Bonds and Qualified Obligations and for such purpose paid into the appropriate funds or accounts.

• The City shall make deposits to and payments from the Qualified Obligations Account in accordance with the terms of this Installment Purchase Agreement.

• The Treasurer shall continue to maintain the Qualified Obligations Account, heretofore created under Ordinance No. 5032 of the City Council, so long as any Qualified Obligations remain Outstanding.

• The money collected from insurance against accident, loss or damage shall be used for repairing or rebuilding the lost, damaged or destroyed works and properties, and to the extent not so applied, shall be applied: (i) prior to the Crossover Date, to the retirement of outstanding Senior Bonds and Qualified Obligations, and (ii) from and after the Crossover Date, to the retirement of Outstanding Distribution System Parity Obligations, and for such purposes paid into the appropriate funds or accounts.

• The Surplus Revenues in the Qualified Obligations Account shall be held in trust by the Treasurer of the City for the benefit of the holders of the 2022 Bonds and any other Qualified Obligations.

More Definitions of Qualified obligations

Qualified obligations has the meaning specified in Section 1504.

Qualified obligations means U.S. Government Obligations and Other Qualified Obligations. "U.S. Government Obligations" means securities that are (a) direct obligations of the United States of America for the payment of which its full faith and credit is pledged or (b) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, which, in either case, are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act of 1933, as amended) as custodian with respect to any such U.S. Government Obligation or a specific payment of principal of or interest on any such U.S. Government Obligation held by such custodian for the account of the holder of such depositary receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligation or the specific payment of principal of or interest on the U.S. Government Obligation evidenced by such depositary receipt. "Other Qualified Obligations" means (x) any deposit which is fully insured by (i) the Federal Deposit Insurance Corporation or (ii) an insurance company whose ability to pay claims has received one of the three highest ratings from a nationally recognized rating agency pursuant to a policy in a form that has been approved by a nationally recognized rating agency, or (y) any deposit which is made with any bank situated in the United States whose commercial paper has received one of the three highest ratings from a nationally recognized rating agency. For purposes of this definition, a bank shall be deemed to have commercial paper that has received one of the three highest ratings of a particular rating agency if the bank is the principal subsidiary of a bank holding company and the commercial paper of the bank holding company has received one of the three highest ratings of such agency. A bank shall be deemed the principal subsidiary of a bank holding company if the bank's net worth exceeds 66 2/3% of the consolidated net worth of the bank holding company.

Qualified obligations means all Obligations, other than (a) Obligations representing the principal of any Revolving Borrowing (to the extent not constituting a Secured Revolving Credit Extension) or any LC Disbursement (to the extent not constituting a Secured Revolving Credit Extension), (b) any Obligation which is prohibited by the terms of the Senior Notes Indentures from being secured and (c) any Obligation to the extent that, if such Obligation is secured by the Collateral, the Borrower would be required pursuant to the terms of any of the Senior Notes Indentures to secure the Senior Notes issued pursuant thereto equally and ratably with such Obligation.

Qualified obligations shall exclude claims of a Creditor Group that have been finally determined to be invalid and unenforceable by a court, or arbitral body, of competent jurisdiction, but shall include claims that are reinstated, for example in the event that a payment received by Creditor Group prior to the delivery of the Trigger Notice is later held to be voidable as a preferential transfer under applicable bankruptcy law, with the effect that the Credit Obligations of such Creditor Group are correspondingly reinstated.

Qualified obligations has the meaning given in the Pledge Agreement and includes the Obligations under the Notes and the Indenture.

Qualified obligations means, without duplication, (i) 2020 Purchase Payments;

Qualified obligations means: ---------------------