Junior Bond definition

Junior Bond. With respect to a Series of Bonds, a Bond of a Class of such Series which Class is subordinated in right of payment of principal and/or interest to the Classes of Senior Bonds of such Series, as more particularly described in the related Series Supplement.

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Junior Bond means any Outstanding bond or Outstanding bonds payable from the

Junior Bond means any Outstanding bond or Outstanding bonds payable from the Junior Debt Service Account of the Bond and Interest Account of the Fund, and includes expressly each series of the Bonds.

Examples of Junior Bond in a sentence

• Amounts in the Senior Bonds Debt Service Reserve Account shall be made available to ensure the timely payment of Senior Debt Service on the Senior Obligations, amounts in the TIFIA Loans Debt Service Reserve Account shall be made available to ensure the timely payment of TIFIA Debt Service on the TIFIA Loan and amounts in the Junior Bonds Debt Service Reserve Account shall be made available to ensure the timely payment of Junior Bond Payment Obligations.

• Collectively, the loan documents evidencing the Gap Loan, the Offsite Improvement Loan and the Junior Bond Loan.

• The Financial Plan shall not reflect amortization of Senior Obligations or any Junior Bond Payment Obligations until such time as all currently accruing interest on the TIFIA Loan is being paid in full.

• The Subordination Agreements in form and substance satisfactory to Bank, executed by each Subordinate Lender and Borrower, pursuant to which ▇▇▇▇▇▇ shall unconditionally subordinate the lien and effect of the documents evidencing the Gap Loan and the Offsite Improvement Loan and Opportunities Fund shall unconditionally subordinate the lien and effect of the documents evidencing the Junior Bond Loan to the lien and effect of the Deed of Trust.

• Amounts in the Senior Bonds Debt Service Reserve Account shall be made available to ensure the timely payment of Senior Debt Service on the Senior Obligations, amounts in the TIFIA Debt Service Reserve Account shall be made available to ensure the timely payment of TIFIA Debt Service on the TIFIA Loan and amounts in the Junior Bonds Debt Service Reserve Account shall be made available to ensure the timely payment of Junior Bond Payment Obligations.

More Definitions of Junior Bond

Junior Bond means any Outstanding bond or Outstanding bonds payable from an applicable Junior Debt Service Account, in this case the “Junior Debt Service Account,” and includes expressly the Bonds.

Junior Bond means any Outstanding bond or Outstanding bonds payable from the Junior Debt Service Account of the Bond and Interest Account under this ordinance.