Special Limited Obligations. The City’s obligation to pay the Installment Payments and any other amounts coming due and payable hereunder constitute a special, limited obligation of the City payable solely from the Pledged Collateral and the other funds provided herein for the payment of the Installment Payments or for the performance of any other agreements or covenants required to be performed by it contained herein. Under no circumstances is the City required to advance moneys derived from any source of income other than the Net Revenues for the payment of the Installment Payments and such other amounts, and no other funds or property of the City are liable for the payment of the Installment Payments. The City may, however, but in no event shall be obligated to, advance moneys for any such purpose so long as such moneys are derived from a source legally available for such purpose and may be legally used by the City for such purpose. As long as the WIFIA Credit Provider, as the initial Assignee, is the Holder of the ISA, the WIFIA Credit Provider may exercise any right or remedy that may be available to the Corporation under the Financing Documents.
Special Limited Obligations. The obligation of each Recipient to pay its Payments is a special, limited obligation of such Recipient payable, in the manner provided in the Master Obligation Agreement, solely from its Net Revenues and the other assets pledged to the payment thereof under the Master Obligation Agreement, and does not constitute a debt of such Recipient or of the State or of any political subdivision thereof in contravention of any constitutional or statutory debt limit or restriction. Neither the faith and credit nor the taxing power of a Recipient or the State or any political subdivision thereof is pledged to the payment of the Payments of such Recipient.
Special Limited Obligations. The Senior Bonds are special, limited obligations of the Issuer, payable solely from and secured solely by the Trust Estate, and are not, and shall not be deemed to constitute an obligation, moral or otherwise, of CDOT or the State, any other agency, instrumentality or political subdivision of the State, or any official, board member, director, officer, employee, agent or representative of any of the foregoing, and neither the full faith and credit of the Issuer or CDOT nor the full faith and credit nor the taxing power of the State or any other agency, instrumentality or political subdivision of the State is pledged to the payment of the principal (or Redemption Price) of and interest on the Senior Bonds. The Owners of the Senior Bonds may not look to any revenues of the Issuer, CDOT or the State for repayment of the Senior Bonds and the only sources of repayment of the Senior Bonds are revenues provided by the Concessionaire to the Issuer pursuant to the Series 2014 Bonds Loan Agreement and any Additional Senior Bonds Loan Agreement (if executed) for the payment of the principal (or Redemption Price) of and interest on the Senior Bonds. The Senior Bonds do not constitute an Indebtedness of the Issuer, CDOT or the State or a multiple-fiscal year obligation of the Issuer, CDOT or the State within the meaning of any provisions of the State Constitution or the laws of the State. The payment of the Senior Bonds shall not be secured by any encumbrance, mortgage, or other pledge of property of the Issuer, CDOT or the State, other than the Trust Estate. No property of the Issuer, CDOT or the State, subject to such exception, shall be liable to be forfeited or taken in payment of the Senior Bonds. No member, officer or agent of the Issuer or any person executing the Senior Bonds shall be liable personally on the Senior Bonds by reason of the issuance thereof. No provision, covenant, or agreement contained in this Indenture, or any obligations herein imposed upon the Issuer, or the breach thereof, shall constitute an indebtedness or liability of the Issuer within the meaning of any State constitutional provision or statutory limitation or shall constitute or give rise to a pecuniary liability of the Issuer or any member, officer or agent of the Issuer or a charge against the Issuer's general credit. In making the agreements, provisions and covenants set forth in this Indenture, the Issuer has not obligated itself except with respect to the application of the reven...
Special Limited Obligations. All of the obligations of the Issuer under this Agreement are payable from, and in making the agreements, provisions and covenants set forth in this Agreement, the Issuer has not obligated itself except with respect to, the Net Pledged Revenues which shall be applied, as provided in this Agreement and the Series 2016 Bond Resolution.
Special Limited Obligations. THE STATE IS NOT OBLIGATED TO PAY, AND NEITHER THE FAITH AND CREDIT NOR TAXING POWER OF THE STATE IS PLEDGED TO THE PAYMENT OF, THE PRINCIPAL OR REDEMPTION PRICE, IF ANY, OF OR INTEREST ON THE BONDS. THE BONDS ARE SPECIAL LIMITED OBLIGATIONS OF THE AUTHORITY, PAYABLE SOLELY OUT OF THE REVENUES OR OTHER RECEIPTS, FUNDS OR MONEYS OF THE AUTHORITY PLEDGED UNDER THE INDENTURE AND FROM ANY AMOUNTS OTHERWISE AVAILABLE UNDER THE INDENTURE FOR THE PAYMENT OF THE BONDS. THE BONDS DO NOT NOW AND SHALL NEVER CONSTITUTE A CHARGE AGAINST THE GENERAL CREDIT OF THE AUTHORITY. THE AUTHORITY HAS NO TAXING POWER.
Special Limited Obligations. The Bonds and the other Secured Obligations are special, limited obligations of the Transportation Enterprise, payable solely from and secured solely by the Trust Estate and are not, and shall not be deemed or construed as creating, a debt or multiple fiscal year direct or indirect debt or other financial obligation of CDOT or the State.
Special Limited Obligations. The Senior Bonds are special, limited obligations of the Issuer, payable solely from and secured solely by the Trust Estate, and are not, and shall not be deemed to constitute an obligation, moral or otherwise, of the Issuer (except with respect to the Trust Estate), CDOT, HPTE, or the State, any other agency, instrumentality or political subdivision of the State, or any official, board member, director, officer, employee, agent or representative of any of the foregoing, and neither the full faith and credit of the Issuer, HPTE or CDOT nor the full faith and credit nor the taxing power of the State or any other agency, instrumentality or political subdivision of the State is pledged to the payment of the principal (or Redemption Price) of and interest on the Senior Bonds. The Owners of the Senior Bonds may not look to any revenues of the Issuer, HPTE, CDOT or the State for repayment of the Senior Bonds and the only sources of repayment of the Senior Bonds are revenues provided by the Borrower to the Issuer pursuant to the Series 2017 Loan Agreement and any Additional Senior Bonds Loan Agreement (if executed) for the payment of the principal (or Redemption Price) of and interest on the Senior Bonds. The Senior Bonds do not constitute an Indebtedness of the Issuer, HPTE, CDOT or the State or a multiple-fiscal year obligation of the Issuer, HPTE, CDOT or the State within the meaning of any provisions of the State Constitution or the laws of the State. The payment of the Senior Bonds shall not be secured by any encumbrance, mortgage, or other pledge of property of the Issuer, HPTE, CDOT or the State, other than the Trust Estate. No property of the Issuer, HPTE, CDOT or the State, subject to such exception, shall be liable to be forfeited or taken in payment of the Senior Bonds. No member, officer or agent of the Issuer or any person executing the Senior Bonds shall be liable personally on the Senior Bonds by reason of the issuance thereof. No provision, covenant, or agreement contained in this Indenture, or any obligations herein imposed upon the Issuer, or the breach thereof, shall constitute an indebtedness or liability of the Issuer within the meaning of any State constitutional provision or statutory limitation or shall constitute or give rise to a pecuniary liability of the Issuer or any member, officer or agent of the Issuer or a charge against the Issuer’s general credit. In making the agreements, provisions and covenants set forth in this Indenture, th...
Special Limited Obligations a. The Obligations shall be special, limited obligations of Lake County and the Lake County HRA and shall not be payable from nor charged against any funds of any of the Parties, other than Lake County, nor shall any of the Parties, other than Lake County be subject to any liability thereon, nor shall any holder of the Obligations ever have the right to compel any exercise of the taxing power of any of the Parties to pay the Obligations or the interest thereon, nor to enforce payment thereon against any property of any of the Parties, other than Lake County, nor shall the Obligations constitute a charge, lien or encumbrance, legal or equitable, upon any funds, assets or property of any of the Parties, other than Lake County, nor shall the Obligations constitute a debt of any of the Parties within the meaning of any constitutional or statutory limitation of indebtedness.
Special Limited Obligations. The Bonds shall be payable solely from the property held and receipts and revenues received by or on behalf of the Issuer pursuant to the Indenture. Nothing contained in (a) this Resolution, (b) the Documents, or (c) any other agreement, certificate, document, or instrument executed in connection with the issuance of any of the Bonds shall be construed as obligating the Issuer (except as a special limited obligation to the extent provided in such documents or instruments) or obligating the City of Phoenix, Arizona (the “City”), or the State to pay the principal of or premium, if any, or interest on the Bonds, or as incurring a charge upon the general credit of the Issuer, the City or the State, nor shall the breach of any agreement contemplated by this Resolution, the Documents, or any other instrument or documents executed in connection herewith or therewith impose any charge upon the general credit of the Issuer, the City or the State. The Issuer has no taxing power.
