Issuance of Other Obligations. The Issuer and the Company expressly reserve the right to enter into, to the extent permitted by law, an agreement or agreements other than this Loan Agreement with respect to the issuance by the Issuer, under an indenture or indentures other than the Indenture, of obligations to provide funds to defray any additional costs of construction of the Facilities or to refund any or all of the Bonds.
Issuance of Other Obligations. The Authority and the Company expressly reserve the right to enter into, to the extent permitted by law, but shall not be obligated to enter into, an agreement or agreements other than this Agreement with respect to the issuance by the Authority, under an indenture or indentures other than the Indenture, of obligations to provide additional funds to pay the cost of construction of the Facilities or obligations to refund all or any principal amount of the Bonds, or any combination thereof.
Issuance of Other Obligations. The Pollution Control Corporation and the Company expressly reserve the right to enter into, to the extent permitted by law, but shall not be obligated to enter into, an agreement or agreements other than this Agreement with respect to the issuance by the Pollution Control Corporation, under an indenture or indentures other than the Indenture, of obligations to provide additional funds to pay the cost of construction of the Facilities or obligations to refund all or any principal amount of the Bonds, or any combination thereof.
Issuance of Other Obligations. Except for the Note, the City will not issue any other obligations payable from the Non-Ad Valorem Revenues nor voluntarily create or cause to be created any debt, lien, pledge, assignment, encumbrance or other charge against the Non-Ad Valorem Revenues, or any part thereof, except as set out below. The City may incur additional Covenant Debt only if the total amount of Non-Ad Valorem Revenues for the prior Fiscal Year were at least 1.2 times the maximum annual debt service of all Covenant Debt then outstanding and the Covenant Debt proposed to be incurred (collectively, "Debt"). For purposes of calculating maximum annual debt service if the terms of the Debt are such that interest thereon for any future period of time is to be calculated at a rate which is not then susceptible of precise determination ("Variable Rate Debt"), interest on such Variable Rate Debt shall be computed as follows:
Issuance of Other Obligations. Neither the City nor the County will issue other obligations, including any obligations that may be issued on parity with their respective obligations hereunder, from the Dedicated Sales Surtax, or any portion thereof, or voluntarily create or cause to be created any additional debt, lien, pledge, assignment, encumbrance or other charge having priority to, being on a parity with or junior to their respective obligations hereunder, upon the Dedicated Sales Surtax.
Issuance of Other Obligations. While any of the Bonds are outstanding, the Company agrees not to incur any indebtedness except for the Senior Loan, this Agreement and any debt as described in the immediately succeeding sentence. The Company shall have the right to incur Additional Senior Indebtedness in a principal amount of up to $20,000,000. Additional Senior Indebtedness may be secured by a mortgage lien having priority over the lien of the Subordinate Mortgage and the Subordinate Security Agreement and creditors holding Additional Senior Indebtedness (the “Additional Senior Lenders”) may have the right to receive payment of regularly scheduled debt service payments before payments may be made with respect to the Bonds. The Company shall only be permitted to incur Additional Senior Indebtedness if the Company provides to the Trustee the written certification of an independent public accountant stating that either (a) during the two years immediately preceding the date on which the Additional Senior Indebtedness will be incurred, the Debt Service Coverage Ratio, calculated as though the proposed Additional Senior Indebtedness had been outstanding during such period, would not have been less than 1.25 to 1 or (b) that for the five years immediately succeeding the date on which the Additional Senior Indebtedness will be incurred, the Debt Service Coverage Ratio, taking into account the Additional Senior Indebtedness to be incurred, is expected to be not less than 1.25 to 1. Upon receipt of the certification described above, and a Favorable Opinion of Bond Counsel stating that all conditions to the incurrence of such Additional Senior Indebtedness under the Agreement and the Indenture have been met and that the incurrence of such Additional Senior Indebtedness will not affect the Tax-Exempt status of interest on the Bonds, the Trustee will execute a subordination agreement in favor of the Additional Senior Lenders providing such Additional Senior Indebtedness. The Issuer and the Company hereby direct the Trustee to enter into any necessary subordination agreement with Additional Senior Lenders to cause the Additional Senior Indebtedness to have priority over the Bonds.
Issuance of Other Obligations. 61 Section 10.02. Issuance of Additional Parity Obligations .................. 61 Article XI Concerning the Mortgaged Properties
Issuance of Other Obligations. The Issuer will not issue any other Bonds or obligations payable from the Revenues, nor voluntarily create or cause to be created any debt, lien, pledge, assignment, encumbrance or other charge on the Trust Estate pledged in the Indenture having priority to or being on a parity with the lien of the Bonds issued pursuant to this Agreement and the Indenture and the interest thereon, upon said Revenues, except under the conditions and in the manner provided in Section 10.02 below.
Issuance of Other Obligations. The Issuer and the Company expressly reserve the right to enter into, to the extent permitted by law, an agreement or agreements other than this Agreement with respect to the issuance by the Issuer, under an indenture or indentures other than the Indenture, of obligations to provide additional funds to pay costs of facilities in addition to the Pollution Control Facilities or to provide for the refunding of all or any principal amount of the Bonds. Such obligations will not be entitled to the benefits of the Indenture, any First Mortgage Bonds, any Insurance Policy, any Standby Purchase Agreement or any Alternate Liquidity Facility.
Issuance of Other Obligations. The City and the Company expressly reserve the right to enter into, to the extent permitted by law, but shall not be obligated to enter into, an agreement or agreements other than this Agreement with respect to the issuance by the City, under an ordinance or ordinances other than the Ordinance, of obligations to provide additional funds to pay the cost of construction of the Facilities or obligations to refund all or any principal amount of the Bonds, or any combination thereof.
