Subordinate Bonds definition

Subordinate Bonds means all Bonds but Senior Bonds.

Subordinate Bonds means the Series A-2 Bonds and any additional bonds issued on a subordinate lien basis.

Subordinate Bonds means any Bonds which, pursuant to the Supplemental Resolution authorizing such Bonds, are secured by a subordinate charge and lien on the Revenues and assets pledged under the General Resolution.

Examples of Subordinate Bonds in a sentence

• If the Bonds are optionally redeemed in part, the Borrower will designate the applicable Series being redeemed with the Senior Bonds being redeemed in full before the optional redemption of any Subordinate Bonds.

• In the event and to the extent that Net Project Revenues held in the Bond Fund, after payment of principal and interest on the Senior Bonds, are insufficient to pay the principal of and interest on the Subordinate Bonds when due hereunder, such Subordinate Bonds shall continue to bear interest until paid.

• Such Subordinate Bonds shall be paid on such later date or dates from Net Project Revenues available after making the required payments under Section 5.02(a)(ii)(A) - (G) hereof, with such Net Project Revenues credited first to accrued but unpaid interest on such Subordinate Bonds and then to unpaid principal then due on such Subordinate Bonds.

• The Subordinate Bonds shall be and hereby are subordinated in priority, right and time of payment to (a) amounts due and payable on the Senior Bonds, and (b) amounts due and payable on the Senior Bonds upon redemption or acceleration of the Bonds and in any event following an Event of Default hereunder or under the Notes.

• The Trustee may, and upon written request of the Significant Bondholder, if any, or the Owners of a majority of the aggregate principal amount of Senior Bonds Outstanding (and following payment in full of the Senior Bonds, the Owners of a majority of the aggregate principal amount of Outstanding Subordinate Bonds) shall, waive any Event of Default, but no such waiver shall extend to or affect any other existing or any subsequent Event of Default or impair any rights or remedies consequent thereon.

More Definitions of Subordinate Bonds

Subordinate Bonds means any Bonds which, pursuant to the Supplemental Resolution authorizing such Bonds, are secured by a subordinate charge and lien on the Pledged Property.

Subordinate Bonds means Bonds payable on a basis as set forth in the related Series Indenture or Remarketing Indenture with a claim to payment subordinate to the claim of Bonds that are not Subordinate Bonds.

Subordinate Bonds. Any Bonds of a Series that entitle the Holders thereof to a right to receive timely payment of principal or interest that is subordinated in whole or in part to the prior right of Holders of other Bonds of the same Series but a different Class.

Subordinate Bonds means any bonds secured by the Net Revenues hereafter issued on a subordinate lien basis to any Parity Bonds.

Subordinate Bonds means bonds, notes or other evidences of indebtedness of the Borrower secured by or payable from a pledge of Revenues expressly made subordinate to the pledge of Revenues to secure the payment of the Local Bond.

Subordinate Bonds or “Subordinate Obligations” means bonds or other obligations payable from System Revenues hereafter issued, subsequent and junior to the lien of the Bonds herein authorized to be issued.

Subordinate Bonds means any Authorized Denomination of Bonds so designated by the Bondholder Representative as “Subordinate Bonds” pursuant to Article XVI hereof.