Examples of PFC Revenues in a sentence
The test for the issuance of any Additional Bonds secured by a pledge of PFC Revenues shall be performed in accordance with Section (2) above, but no pledge of PFC Revenues shall occur unless such pledge is currently permitted by (i) applicable law and (ii) the Federal Aviation Administration.
The Issuer must be in full compliance with all covenants and undertakings in connection with the Bonds and any Additional Bonds hereinafter issued and there must be no delinquencies in payments required to be made in connection therewith.The Issuer represents, covenants and agrees that, upon issuance of the Bonds, there shall be no other obligations of the Issuer having a lien on Net Revenues or PFC Revenues senior in right or priority of payment to the rights and priorities benefiting the Bonds.
Any PFC Revenues not so transferred may be transferred, at the election of the City, to the PFC Project Account or to such other Account within the PFC Fund as the City may determine in conformity with federal statutes and regulations governing the use of the PFC Revenues.
The Airport Facilities Revenue Bonds are secured by a senior lien on and pledge of airport revenues, net of specified operating expenses, along with certain other revenues to the extent they are expressly pledged by the Authority (e.g. Available PFC Revenues).
The Governing Authority hereby pledges and dedicates (i) the PFC Revenues and (ii) the Net Revenues to secure and pay the Series 2015B Bonds; provided, however, that the Net Revenues shall be used to pay the debt service on the Series 2015B Bonds only to the extent that the PFC Revenues are insufficient for that purpose.