General Resolution Sample Clauses

General Resolution. The Reimbursement Obligations constitute Parity Reimbursement Obligations and Parity Obligations for all purposes of the General Resolution, which are secured by the pledge of and lien on the Trust Estate created by Section 501 of the General Resolution on a parity with the lien on the Trust Estate securing the payment of Bonds, the 2015 GR-5 Notes and other Parity Obligations. To the extent that any Letter of Credit Fee or other amount payable hereunder does not constitute a Reimbursement Obligation, such Letter of Credit Fee or other amount so payable shall be payable as Operating Expenses by the Authority. The Letter of Credit is a “Credit Facility” as defined in the General Resolution.