Master Notes. Each of the Bond Note and the Purchaser Note has been duly issued under the Master Trust Indenture, in the case of the Bond Note, evidences and secures the obligations of the Corporation under the Loan Agreement and, in the case of the Purchaser Note, evidences and secures the Purchaser Obligations, and each is on a parity with all outstanding Master Notes issued or incurred thereunder. The Master Trust Indenture creates for the benefit of the holders of the Bond Note and the Purchaser Note, the valid binding and irrevocable lien on and pledge of the Trust Estate.
Appears in 2 contracts
Sources: Continuing Covenant Agreement, Continuing Covenant Agreement