Subordinate Obligations. Borrower shall not voluntarily prepay any principal (including the making of any sinking fund payment), interest or any other amount in respect of Subordinate Obligations.
Subordinate Obligations. Subordinate any Debt due to it from a Person to Debt of other creditors of such Person.
Subordinate Obligations. Nothing in this Master Indenture shall prohibit or prevent NVTC from authorizing and issuing Subordinate Obligations for any lawful purpose payable from Revenues subject and subordinate to the payment of any Bonds and to the deposits required to be made from Revenues to the Debt Service Funds, the Revenue Stabilization Fund and the Debt Service Reserve Funds or any other Fund or Account established to secure any Bonds, or from securing any Subordinate Obligations and their payment by a lien and pledge of Revenues junior and inferior to the lien on and pledge thereof for the payment and security of the Bonds. Any such Subordinate Obligations may only be declared immediately due and payable upon the occurrence of a default thereunder if payment of the Bonds has been accelerated in accordance with Article XIII.
Subordinate Obligations. Nothing in this Master Indenture shall prohibit or prevent HRTAC from authorizing and issuing Subordinate Obligations for any lawful purpose payable from HRTAC Revenues subject and subordinate to the payment of any Bonds and to the deposits required to be made from HRTAC Revenues to the Senior Debt Service Funds, the Debt Service Reserve Funds and the Rebate Funds or any other Fund or Account established to secure any Bonds, or from securing any Subordinate Obligations and their payment by a lien and pledge of HRTAC Revenues junior and inferior to the lien on and pledge thereof for the payment and security of the Bonds; provided, however, that such Subordinate Obligations may only be declared immediately due and payable upon the occurrence of a default thereunder if payment of the Bonds has been accelerated in accordance with Article XIII.
Subordinate Obligations. On or before any date that the payment of principal and interest is due with respect to any Subordinate Obligations, the Agency shall, from moneys in the Revenue Fund, transfer to the applicable trustee or payee for deposit in the applicable payment fund, without preference or priority, and in the event of any insufficiency of such moneys ratably without discrimination or preference, payment on such Subordinate Obligations in accordance with the provisions of such Subordinate Obligation.
Subordinate Obligations. The District may issue at any time Subordinate Lien Obligations and enter into Subordinate Financial Products Agreements and Subordinate Credit Facility Obligations, provided that no events of default have occurred and are continuing under the Senior Bond Resolution, this Indenture, any Parity Bond Resolutions, any Parity Bond Indentures, any Parity Financial Products Agreements or any Parity Credit Facility Obligations.
Subordinate Obligations. Upon acceptance by and conveyance to the District from a Builder of District Funded Public Improvements, the District shall (to the extent such conveyance does not occur contemporaneous with the issuance of a series of District Bonds in an amount sufficient to fund the Acquisition Amount for all the District Funded Public Improvements or the delivery of the corresponding Acquisition Amount to the Developer from the proceeds of the District Special Levy) immediately deliver one or more Subordinate Obligations to the Developer memorializing the District’s current obligation to pay the Developer the Acquisition Amount for those improvements from the revenues of the District Special Levy and/or the proceeds of District Bonds, subject to the Reimbursement Cap. The authorization and issuance of Subordinate Obligations by the District, which memorialize that District’s obligation to pay an Acquisition Amount in accordance with this Agreement, shall not be subject to further City Council approval.
Subordinate Obligations. Nothing herein prohibits or impairs the authority of the District to issue bonds or other obligations payable from or secured by a Lien on Net Revenues (or portion thereof) which is subordinate to the Lien established under this Installment Sale Agreement or other Parity Obligations upon such terms and in such principal amounts as the District may determine; provided, that the District may issue or incur any such Subordinate Obligations subject to the following specific conditions:
Subordinate Obligations. Subordinate any indebtedness due to it from a Person to indebtedness of other creditors of such Person.
Subordinate Obligations. Nothing in this Indenture shall prevent Issuer from authorizing and issuing notes, bonds, debentures, debenture anticipation notes, warrants, certificates or other obligations or evidences of indebtedness, the payment of the principal of and premium, if any, and interest on which shall be made from Revenues or from a special fund to be established and maintained from Revenues; provided, that, payments from Revenues or from a special fund to be established and maintained from Revenues, and the lien and charge on such Revenues, shall be made junior and subordinate to the lien, pledge and charge created herein for the security and payment of the Debentures and other payments under this Indenture, including, without limitation, the following payments out of Revenues into the Debenture Fund. Nothing contained herein shall prohibit Issuer from incurring debt in the ordinary course of business for the purchase or lease of furniture, fixtures and other equipment (including vehicles) for use by Issuer; provided, that, such debt shall be subordinate to the provisions of this Indenture and may be secured only by a purchase money security interest in the furniture, fixtures and equipment so acquired. Notwithstanding anything herein to the contrary, no Subordinate Obligations shall be issued unless there is no Event of Default at the time of issuance under this Indenture.
