Examples of Prior Bond Resolutions in a sentence
All obligations, rights and remedies of the Trust or the Master Trustee under the Master Trust Agreement or any Supplemental Trust Agreement as it relates to Prior Loans or agreements related to Prior Loans, including receipt of Revenues after an Event of Default or exercise of remedies, is expressly subject and subordinate to the obligations, rights and remedies of the Trust and the prior bond trustees under the Prior Bond Resolutions, and the Program Trustee under the Program Resolution.
Notwithstanding anything to the contrary in this Section 5.1, the pledge of any Revenues and right, title and interest in Loans and Financial Agreements related to Prior Loans is expressly subject and subordinate to the prior pledge and lien granted by the Trust for the benefit of the Owners of the applicable Prior Bonds under the applicable Prior Bond Resolutions, including without limitation the Owners of applicable Refunding Prior Bonds.
The provisions of the Prior Bond Resolutions and the provisions of this Resolution are to be construed wherever possible so that the same will not be in conflict.
The Paying Agent shall transfer the remainder of such proceeds to the Prior Bond Paying Agent to be applied to refund and discharge all of the outstanding Prior Bonds on the Closing Date in accordance with the Refunding Instructions and the Prior Bond Resolutions.
Capitalized terms set forth in the Exhibits attached hereto shall have the same meanings as set forth in this Agreement, unless defined otherwise in such Exhibit.