Reserve Surety definition

Reserve Surety shall have the meaning set forth in Section 5.5(g) hereof.
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Reserve Surety means, in lieu of cash and investments, any bond insurance, collateral, security, letter of credit, guaranty, surety bond or similar credit enhancement device providing for or securing the payment of all or part of the principal of and interest on Parity Bonds, issued by an institution which has been assigned a credit rating at the time that such Reserve Security is provided, in the two highest rating categories without regard to gradations within those categories (i.e., AAA or AA).
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Reserve Surety has the meaning given that term in the Authority Indenture.
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Examples of Reserve Surety in a sentence

  • Total Bond Reserve Fund$0.00Bond Reserve Cash $0.00Bond Reserve Surety Bond$0.00C.

  • Total Bond Reserve Fund$7,214,000.00Bond Reserve Cash $0.00Bond Reserve Surety Bond$7,214,000.00C.

  • The owners of Parity Bonds other than the Series 2002 Bonds shall have no rights with respect to Debt Service Reserve Surety Bond No. 38037(2) or any amounts deposited in the reserve account for the Series 2002 Bonds.

  • The Reserve Account created pursuant to the Original Resolution shall be deemed to be a reserve account for the Series 2002 Bonds, and Debt Service Reserve Surety Bond No. 38037(2) shall be allocated to that reserve account and shall remain in full force and effect with respect to the Series 2002 Bonds only.

  • Total Bond Reserve Fund$759,000.00Bond Reserve Cash $0.00Bond Reserve Surety Bond$759,000.00C.

  • Total Bond Reserve Fund$1,840,540.28Bond Reserve Cash $1,840,540.28Bond Reserve Surety Bond$0.00C.

  • Total Bond Reserve Fund$2,095,775.95Bond Reserve Cash $0.00Bond Reserve Surety Bond$2,095,775.95C.

  • Under no circumstance shall MDOT/CRC be responsible for any theft, vandalism, or damage to the Contractors equipment.

  • Specific provisions and additions are also required, as the "dissipative capacity of the lagoon inlets channels to be increased".December 6.

  • To add to the covenants and agreements of, and limitations and restrictions upon, the City in this ordinance, other covenants, agreements, limitations and restrictions to be observed by the City which are requested by a bond insurer or provider of a Reserve Surety and which are not materially adverse to the registered owners of the Parity Bonds.

Related to Reserve Surety

  • Reserve Sub-zone means any of those geographic areas wholly contained within a Reserve Zone, consisting of a combination of a portion of one or more Control Zone(s) as designated by the Office of the Interconnection in the PJM Manuals, relevant to provision of, and requirements for, reserve service.

  • Reserve Zone means any of those geographic areas consisting of a combination of one or more Control Zone(s), as designated by the Office of the Interconnection in the PJM Manuals, relevant to provision of, and requirements for, reserve service.

  • Staff Governor means an employee of the Academy Trust who may be appointed as a Governor pursuant to Article 50A;

  • Federal Reserve Board means the Board of Governors of the Federal Reserve System.

  • Board of Governors means the Board of Governors of the Federal Reserve System of the United States of America.

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2019-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

  • Replacement Reserve Agreement means a Replacement Reserve and Security Agreement, reasonably required by the Lender, and completed in accordance with the requirements of the DUS Guide.

  • Federal Reserve Act means the Federal Reserve Act, as amended.

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.

  • the Parent Governors means the Governors appointed pursuant to Articles 53 to 58 inclusive;

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.

  • Basis Risk Reserve Fund A fund created as part of the Trust Fund pursuant to Section 5.06 of this Agreement but which is not an asset of any of the REMICs.

  • regulated financial institution means a state or nationally chartered bank, savings and loan association or savings bank, credit union, trust company, or other state or federally chartered lending institution or a regulated affiliate or regulated subsidiary of any of these entities.

  • Council of Governors means the council of governors of the corporation; “declaration of identity” has the meaning set out in rule 21.1;

  • Federal Reserve means the Board of Governors of the Federal Reserve System.

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.

  • Capital Reserve means for any period and with respect to a Property (other than any Projects Under Development), an amount equal to the product of (i) the gross leaseable area contained in such Property (in square feet), multiplied by (ii) $0.30 per annum.

  • Regulated Bank means an Approved Commercial Bank that is (i) a U.S. depository institution the deposits of which are insured by the Federal Deposit Insurance Corporation; (ii) a corporation organized under section 25A of the U.S. Federal Reserve Act of 1913; (iii) a branch, agency or commercial lending company of a foreign bank operating pursuant to approval by and under the supervision of the Board of Governors under 12 CFR part 211; (iv) a non-U.S. branch of a foreign bank managed and controlled by a U.S. branch referred to in clause (iii); or (v) any other U.S. or non-U.S. depository institution or any branch, agency or similar office thereof supervised by a bank regulatory authority in any jurisdiction.

  • EEA Financial Institution means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.

  • Federal Reserve Bank The Federal Reserve Bank of New York and/or such other Federal Reserve Banks as may maintain Pass-Through Certificates on the Fed System, or any successor selected or approved by Xxxxxxx Mac.

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Further Governors means Governors who may be appointed by the Secretary of State under the Articles of Association if a Special Measures Termination Event, as defined in this Agreement, occurs;

  • NY Federal Reserve means the Federal Reserve Bank of New York.

  • Reserve Fund Requirement means (i) on any Payment Date other than a Payment Date described in clause (ii), an amount equal to 0.50% of the Aggregate Securitization Value of the 2011-1 Leases as of the Cutoff Date or (ii) on any Payment Date occurring on or after the date on which the Note Balance has been reduced to zero, zero.