Common use of Security for Bonds Clause in Contracts

Security for Bonds. (a) In order to provide for and secure the payment of the principal of and the premium, if any, and interest on the Bonds of all Series issued hereunder, and to secure the performance of all of the obligations of NVTC with respect to such Bonds, this Master Indenture and the Series Supplements, subject to the terms hereof and thereof, NVTC hereby pledges, assigns and grants to the Trustee: (1) all of the Revenues; (2) the Revenue Stabilization Fund; and (3) all other property of any kind mortgaged, pledged or hypothecated to provide for the payment of or to secure the Bonds of all Series issued hereunder by NVTC or by anyone on its behalf and with its written consent at any time as and for additional security under this Master Indenture and the Series Supplements in favor of the Trustee, which is authorized to receive all such property at any time and to hold and apply it subject to the terms of this Master Indenture and the Series Supplements. (b) In order to provide for and secure the payment of the principal of and the premium, if any, and interest on each Series of Bonds issued hereunder, and to secure the performance of all of the obligations of NVTC with respect to such Series, this Master Indenture, and the Related Series Supplement, subject to the terms hereof and thereof, NVTC hereby pledges, assigns and grants to the Trustee with respect to such Series (and to such Series only) the money and investments held in the Related Project Fund (if any), Debt Service Fund and Debt Service Reserve Fund (if any). (c) NVTC's authority to receive any or all of the Revenues is subject to appropriation by the General Assembly, and neither the General Assembly or NVTC can or will pledge, covenant or agree to impose or maintain at any particular rate or level any of the taxes that are expected to generate substantially all of the Revenues or to maintain the CROC Fund for the benefits of the Owners of the Bonds, the Trustee or any other Person.

Security for Bonds. (a) In order to provide for and secure the payment of the principal of and the premium, if any, and interest on the Bonds of all Series and Subordinate Obligations issued hereunder, and to secure the performance of all of the obligations of NVTC HRTAC with respect to such the Bonds, the Subordinate Obligations, this Master Indenture and the Series Supplements, subject to the terms hereof and thereof, NVTC hereby pledges, assigns HRTAC pledges and grants to the Trustee: (1) all All of the HRTAC Revenues;; and (2) the Revenue Stabilization Fund; and (3) all All other property of any kind mortgaged, pledged or hypothecated to provide for the payment of or to secure the Bonds of all Series issued hereunder and Subordinate Obligations by NVTC HRTAC or by anyone on its behalf and with its written consent at any time as and for additional security under this Master Indenture and the Series Supplements in favor of the Trustee, which is authorized to receive all such property at any time and to hold and apply it subject to the terms of this Master Indenture and the Series Supplements. (b) In order to provide for and secure the payment of the principal of and the premium, if any, and interest on each Series of Bonds and Subordinate Obligations issued hereunder, and to secure the performance of all of the obligations of NVTC HRTAC with respect to such Series, this Master Indenture, and the Related Series Supplement, subject to the terms hereof and thereof, NVTC hereby pledges, assigns HRTAC pledges and grants to the Trustee with respect to such Series (and to such Series only) the money and investments held in the Related Project Fund (if any), Related Debt Service Fund Fund, and Related Debt Service Reserve Fund (if any). (c) NVTC's HRTAC’s authority to receive any or all of the HRTAC Revenues is subject to appropriation by the General AssemblyAssembly of the Commonwealth, and neither the General Assembly or NVTC nor the Commission can or will pledge, covenant or agree to impose or maintain at any particular rate or level any of the taxes that are expected and fees dedicated to generate substantially all of the Revenues or to maintain HRTF by the CROC Fund for the benefits of the Owners of the Bonds, the Trustee or any other PersonCommonwealth.