PILOT Bonds definition

PILOT Bonds means, individually and/or collectively, any taxable revenue bond or similar bond issued by a PILOT Lessor in favor of any Individual Borrower in connection with the PILOT Lease or other PILOT Document.
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Examples of PILOT Bonds in a sentence

  • To the extent that any PILOT Bonds which have been rated by a Rating Agency are outstanding, the Company shall remain a single purpose entity and any transfer of more than forty- nine percent (49%) of the direct or indirect equity interests in the Company or a change, direct or indirect, in the power to direct or cause the direction of the management and policies of the applicable Obligor shall require delivery of a new nonconsolidation opinion acceptable to the rating Agencies then rating such bonds.

  • The PILOT Increment (as hereinafter defined) shall provide the primary source of payment for PILOT Bonds.

  • Notwithstanding any other provision of this Agreement, the PILOT Bond Trustee (as defined in Section 7.1) shall have priority position and first lien on any and all late interest payments and charges relating to the PILOT Increment to the extent required to satisfy the requirements of the bond indenture entered into with respect to the PILOT Bonds.

Related to PILOT Bonds

  • Bonds means any bonds (including refunding bonds), notes, interim certificates, certificates of indebtedness, debentures or other obligations.