Surety Bond Payment definition

Surety Bond Payment. An amount equal to the Debt Service Payment required to be made by the Trust under this Agreement, as certified in a Demand for Payment (as defined in the Financial Guaranty Agreement).
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Surety Bond Payment has the meaning ascribed thereto in Subsection 3.4(b).”
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Surety Bond Payment means, without duplication, (a) the amount of each payment made by Berkshire under or pursuant to any of the Surety Bonds, including, without limitation, any payments made pursuant to Section 11(f) thereof in order to exercise subrogation rights thereunder or otherwise to acquire the Beneficial Interest or the Subrogation Interest or any part thereof or interest therein, and (b) if a Sublease Event of Default or Head Lessor Event of Default has occurred and is continuing or a payment has been made by Berkshire under or pursuant to any of the Surety Bonds, the amount of each payment made by Berkshire under or pursuant to the Agreement for Assignment on Default, including, without limitation, any payments made pursuant to the terms thereof in order to acquire the Beneficial Interest or any part thereof or interest therein.
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Examples of Surety Bond Payment in a sentence

  • The Note Insurer shall remit or cause to be remitted to the Insurance Paying Agent the amount of the Surety Bond Payment or Insured Payment, as the case may be.

  • The Notice or the Demand for Payment shall specify the total amount of the Insured Payment or Surety Bond Payment, as the case may be, to be paid on the applicable Payment Date, and shall constitute a claim for a Surety Bond Payment or an Insured Payment, as the case may be, pursuant to the Debt Service Reserve Surety Bond or the Note Insurance Policy, respectively.

  • The Reserve Account shall be deemed replenished by the City’s reimbursement to the Surety Bond issuer of principal, interest and the Surety Bond issuer’s reasonable expenses in connection with such Surety Bond Payment, as further provided in paragraph (d) of this Section (collectively, the “Surety Bond Costs”).

  • Upon receipt of such Surety Bond Payment or Insured Payment by the Insurance Paying Agent on behalf of the Noteholders, it shall remit such amounts to the Collateral Agent, who shall deposit such Surety Bond Payment or Insured Payment, as the case may be, in the Collection Account.

  • To evidence such subrogation, the Note Paying Agent shall, or shall cause the Note Registrar to, note the Note Insurer's rights as subrogee on the registration books maintained by the Note Registrar upon receipt from the Note Insurer of proof of payment of any Surety Bond Payment or Insured Payment.

  • The Obligor agrees that it shall make monthly level principal repayments for each Surety Bond Payment during the Reimbursement Period.

  • Interest on each Surety Bond Payment shall be paid monthly during the Reimbursement Period.

  • The Obligor will reimburse Ambac, from Legally Available Funds within the Reimbursement Period, without demand or notice by Ambac to the Obligor or any other person, to the extent of each Surety Bond Payment with interest on each Surety Bond payment from and including the date made to the date of the reimbursement by the Obligor at the Effective Interest Rate.

  • Trustee shall deliver such Surety Bond Payment Certificate or Notice of Preference Claim to the Surety within two (2) Business Days of receipt from Lender.

  • Surety Bond Payment Defendant previously obtained a surety bond in favor of the Union to secure payment by the Defendant of all fringe benefits owed to the Union.


More Definitions of Surety Bond Payment

Surety Bond Payment means an amount equal to the Debt Service Payment less (i) that portion of the Debt Service Payment paid by the Obligor, and (ii) other funds legally available to the Paying Agent for payment to the Owners, all as certified by the Paying Agent in a demand for payment rendered pursuant to the terms of the Surety Bond.
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Surety Bond Payment means an amount equal to the payments required to be made by the Regents under the Bond Resolution which will be applied to payment of principal and interest on the Bonds less (i) that portion of such payment paid by the Regents, and (ii) other funds legally available to the Paying Agent/Registrar for payment to the holders, all as certified by the Paying Agent/Registrar in a certificate submitted by the Paying Agent/Registrar for payment under the Reserve Account Bond.
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Surety Bond Payment means the amount of each payment made by AMBAC pursuant to the Surety Bond.
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Related to Surety Bond Payment

  • Bond Payment Date means any date on which principal of or interest on any Bond is payable.

  • Special Payment Means any payment (other than a Scheduled Payment) in respect of, or any proceeds of, any Equipment Note or the Collateral (as defined in any Indenture).

  • Special Payment Date means each Distribution Date with respect to the Early Amortization Period.

  • Guarantor Payment Date means (a) prior to the delivery of a Guarantor Default Notice, the date falling on the 10th day of February, May, August and November of each year or, if such day is not a Business Day, the immediately following Business Day, provided that the fist Guarantor Payment Date will be 10 February 2014; and (b) following the delivery of a Guarantor Default Notice, any day on which any payment is required to be made by the Representative of the Covered Bondholders in accordance with the Post-Enforcement Priority of Payments, the relevant Final Terms and the Intercreditor Agreement.

  • Sinking Fund Account means the sinking fund account established and held by the Treasurer of Charleston County designed to provide for the payment of the principal of, premium, if any, and interest on the Bonds, as the same respectively fall due.

  • Escrowed Payment means an aggregate cash payment of up to $250,000;

  • Maturity Redemption Payment means an amount per Deposit to which you are entitled on the Maturity Date based on the performance of the Reference Portfolio which is equal to your Principal Amount x (1 + Variable Return).

  • Tax Event Redemption Price means an amount equal to the unpaid principal amount of this Note to be redeemed, which shall be determined by multiplying (1) the Outstanding Principal Amount of this Note by (2) the quotient derived by dividing (A) the outstanding principal amount to be redeemed by Principal Life of the Funding Agreement by (B) the outstanding principal amount of the Funding Agreement.

  • Guarantor Payment as defined in Section 5.11.3.

  • AHYDO Payment means any mandatory prepayment or redemption pursuant to the terms of any Indebtedness that is intended or designed to cause such Indebtedness not to be treated as an “applicable high yield discount obligation” within the meaning of Section 163(i) of the Code.

  • Sinking Fund Payment means, with respect to a particular Series, as of any particular date of calculation, the amount required to be paid in all events by the Corporation on a single future date for the retirement of Outstanding Bonds which mature after said future date, but does not include any amount payable by the Corporation by reason of the maturity of a Bond or by call for redemption at the election of the Corporation.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Sinking Fund Redemption Date Has the meaning specified in Section 6.06 of the Indenture.

  • PAGA Payment means the penalties pursuant to PAGA that the Parties have agreed is a

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Paying Agent Fee means the portion of the Trustee Fee payable to the Paying Agent in an amount agreed to between the Trustee and the Paying Agent.

  • Payment Bond is one executed in connection with a contract to assure payment as required by law of all persons supplying labor and material in the execution of the work provided for in the contract.

  • Special Event Redemption Price has the meaning specified in Section 11.2.

  • Subordinate Principal Prepayments Distribution Amount For any Distribution Date, the Subordinate Prepayment Percentage of the Principal Prepayment Amount.

  • Special Payments Account Means, with respect to the Class A Certificates, the account or accounts created and maintained for such series pursuant to Section 4.01(b) of the Basic Agreement (as modified by Section 7.01(c) of this Trust Supplement) and this Trust Supplement.

  • Principal Prepayment Amount For any Distribution Date and for any Loan Group, the sum with respect to the Mortgage Loans in such Loan Group of (i) Curtailments received during the Prior Period from such Mortgage Loans and (ii) Payoffs received during the Payoff Period from such Mortgage Loans.

  • Premium Payment Date in respect of any Option, means the date on which the Premium is due and payable, as agreed to at the time the Option is entered into, as evidenced in a Confirmation.

  • Delta Payment means as it is described in this Agreement.

  • Principal Payment Any payment of principal on a Mortgage Loan other than a Principal Prepayment.

  • Redemption Proceeds means any proceeds in any applicable currency from a redemption in respect of the Charged Assets in accordance with the terms and conditions of such Charged Assets.

  • Sinking Fund Installment means, as of any particular date of calculation, the amount required, as of such date of calculation, to be paid by the Authority on a future date for the retirement of Outstanding Bonds which are stated to mature subsequent to such future date, but does not include any amount payable by the Authority by reason only of the maturity of a Bond.