Examples of Senior Bond Resolution in a sentence
In May 2004, LGAC amended its General Senior Bond Resolution and General Subordinate Lien Bond Resolution to clarify that any failure to certify or make payments to the City or its assignee has no impact on LGAC’s own bondholders; and that if any such act or omission were to occur with respect to any possible bonds issued by New York City or its assignee, that act or omission would not constitute an Event of Default with respect to LGAC bonds.
The District may issue at any time Subordinate Lien Obligations and enter into Subordinate Financial Products Agreements and Subordinate Credit Facility Obligations, provided that no events of default have occurred and are continuing under the Senior Bond Resolution, this Indenture, any Parity Bond Resolutions, any Parity Bond Indentures, any Parity Financial Products Agreements or any Parity Credit Facility Obligations.
Upon any such resignation, the Trustee shall be deemed to have resigned as trustee under the Senior Bond Resolution, any Parity Bond Resolutions and any Parity Bond Indentures.
In each month, after making in full all deposits or payments required by the Senior Bond Resolution, any remaining 0.6% Sales Tax revenues shall be remitted by the Senior Debt Trustee to the Trustee, free and clear of the lien of the Senior Bond Resolution, for deposit by the Trustee into the 0.6% Sales Tax Fund.
Upon any removal of the Trustee under this Indenture, the Trustee shall be deemed to be removed as trustee under the Senior Bond Resolution, any Parity Bond Resolutions and any Parity Bond Indentures.
The Trustee may be removed at any time by the District for any reason upon 30 days prior written notice to the Trustee, but only upon the simultaneous removal of the Senior Debt Trustee in accordance with the provisions of the Senior Bond Resolution.
If the owners of the Senior Debt remove the Senior Debt Trustee under the Senior Bond Resolution in accordance with the provisions therewith, the Trustee shall be deemed to have been removed hereunder.
In addition to the applicable LOC, the CP notes are further secured by a pledge of the Net Revenues of the Airport, subject to the prior payment of the Airports’ Second Series Revenue Bonds (the Senior Bonds) outstanding from time to time under Resolution No. 91-0210, adopted by the Airport on December 3, 1991, as amended and supplemented (the Senior Bond Resolution).
Proposal:DB 10 purchased the building for $800K and will spend $1.121M to remodel it.
Notwithstanding any provisions contained in this Article VI to the contrary, upon the occurrence of an Event of Default, the rights and remedies of the Owners of the Bonds shall be subject to the superior rights and priority of the owners of any Senior Debt then Outstanding with respect to the Sales Tax Revenues attributab le to the 0.6% Sales Tax, if such Event of Default also constitutes an event of default under the Senior Bond Resolution.