Additional Parity Obligations definition

Additional Parity Obligations means any additional obligations having a lien payable from Net Revenues of the System on a parity with the Loan Agreement which may hereafter be issued by the Local Borrower (or any financing conduit acting on behalf of the Local Borrower) in compliance with the terms in Section 3.

Additional Parity Obligations means all Parity Obligations hereafter issued or incurred by the City pursuant to Article VII.

Additional Parity Obligations means any leases or other obligations, other than the Parity Bonds, of the Borrower hereafter issued or incurred, payable from the Net Revenues and standing on a parity and equality with the Parity Bonds with respect to the Lien on the Net Revenues.

Examples of Additional Parity Obligations in a sentence

• Any Additional Parity Obligations and Junior Obligations may be incurred only in the manner and pursuant to the terms set forth in this Section 704; provided, however, that VRA Senior Obligations may become VRA Subordinate Obligations without limitation.

• The Net Revenues are hereby pledged by the Local Borrower to the payment of all amounts due under the Loan and the repayment of such amounts shall be secured by a lien on and pledge of the Net Revenues on parity with the pledge and lien granted by the Local Borrower for the payment and security of Outstanding Parity Obligations and Additional Parity Obligations.

• The Bonds, together with any Additional Parity Obligations, are special obligations of the City, payable solely from the Net Revenues.

• Section 3 Additional Parity Obligations The Local Borrower covenants and agrees that no other obligations of any kind will be issued that are payable from or enjoy a pledge of the Net Revenues having priority over the Loan.

• If the Revenues have been increased as a result of construction of additions or acquisitions to the System made prior to the issuance of such Additional Parity Obligations but during either the fiscal year in which the Additional Parity Obligations are to be issued or in the preceding fiscal year, such increased Revenues may be treated as if such additions to the System were completed on the first day of the fiscal year used for purposes of computation.

More Definitions of Additional Parity Obligations

Additional Parity Obligations means the additional bonds, notes and other obligations which GBRA reserves the right to issue or enter into, as the case may be, in the future under the terms and conditions provided in Sections 22 and 23 of this Resolution.

Additional Parity Obligations means the additional parity revenue bonds permitted to be authorized in the future by this Resolution and by the Taxable Series 2020A Resolution.

Additional Parity Obligations means the additional obligations of the Board permitted to be issued pursuant to Section 12 of this Resolution or pursuant to the Parity Bond Resolutions, such obligations to be payable from and secured by a first lien on and pledge of the Available University Fund Share on a parity with and of equal dignity to the Outstanding Parity Bonds and the Bonds.

Additional Parity Obligations means any pari passu additional obligations hereafter issued by the Issuer on a parity with the Bonds and the Outstanding Parity Obligations, with respect to the excess of annual revenues of the Issuer, all as provided herein.

Additional Parity Obligations means any pari passu indebtedness hereafter issued on a parity with the Bonds with respect to the Revenues in accordance with Article IX hereto.

Additional Parity Obligations means bonds, notes, or other Debt which the Authority reserves the right to issue or enter into, as the case may be, in the future under the terms and conditions provided in Sections 23 and 24 of this Resolution and which obligations are equally and ratably secured solely by a first lien on and pledge of the Pledged Revenues on a parity with the Series 2019 Bonds.

Additional Parity Obligations means any additional obligations with a lien on the Net Revenues and payable from the Net Revenues that are on parity with the lien of the Authority Bonds and the Prior Bonds, and after issuance of the Bonds, the Bonds.