Subordinate Lien Obligations definition

Subordinate Lien Obligations means any Additional Obligations payable from, and secured by a lien on, the Revenues, which lien is junior to that of any Parity Obligations.

Subordinate Lien Obligations means the obligations permitted to be issued by the City pursuant to Section 6.2 hereof.

Subordinate Lien Obligations means the obligations of the City under the City’s Commercial Paper Notes, Series A and the documents pertaining thereto.

Examples of Subordinate Lien Obligations in a sentence

• Obligations - mean the Senior Lien Obligations and the Subordinate Lien Obligations.

• The Master Debt Resolution establishes (1) the procedure for handling the Gross Sales Tax Revenues from the point of release of the revenues by the Comptroller to the Trustee to the point they are released by the Trustee to us;(2) the priorities of the liens that are created for the benefit of the Senior Lien Obligations, the Senior Subordinate Lien Obligations, and the Junior Subordinate Lien Obligations; and (3) the permissible investments thereof at our direction.

• First Supplemental Debt Resolution - means the Supplemental Resolution approved by the Board authorizing the issuance and setting forth the terms of the Senior Subordinate Lien Obligations authorized by Section 3.3(a) of the Master Debt Resolution.

• RESTRICTED ASSETSAs security for the Senior Lien Obligations (Bonds) and Senior Subordinate Lien Obligations (Commercial Paper Notes), DART is required to maintain a certain amount of money in trust accounts created for this purpose.

• Such variable rate bonds may mature on dates other than September 1 and interest thereon may be payable on dates other than March 1 or September 1; provided that the issuance of Additional Bonds as variable rate bonds may not cause the total amount of Outstanding Bonds that are variable rate bonds to exceed 50% (20% as long as the Series 1999 Bonds shall remain outstanding) of the aggregate principal amount of all Outstanding Bonds and Subordinate Lien Obligations at the time of such issuance.

More Definitions of Subordinate Lien Obligations

Subordinate Lien Obligations means (i) any bonds, notes, warrants, or other Debt issued by the Authority that are payable, in whole or in part, from and equally and ratably secured by a lien on and pledge of the Net Operating Revenues, such pledge being subordinate and inferior to the lien on and pledge of the Net Operating Revenues that are or will be pledged to the payment of any Parity Obligations issued by the Authority, and (ii) obligations hereafter issued to refund any of the foregoing if issued in a manner that provides that the refunding bonds are payable from and equally and ratably secured, in whole or in part, by a lien on and pledge of the Net Operating Revenues on a parity with the Subordinate Lien Obligations.

Subordinate Lien Obligations means the $3,975,000 Board of Supervisors for the University of Louisiana System Revenue Refunding Bonds (Louisiana Tech University Project) Series 2012, of which $440,000 is currently Outstanding, which are secured by a pledge of Auxiliary Revenues subordinate to the pledge of the Series 2022 Bonds.

Subordinate Lien Obligations means those revenue bonds or other revenue

Subordinate Lien Obligations means warrants or other debt obligations that are payable pursuant to the priority established by Section 9.2(a)(3) whether issued pursuant to this Indenture or pursuant to a Supplemental Indenture.

Subordinate Lien Obligations means any bonds, notes or other obligations, including contractual obligations incurred by TIRZ Five in accordance with the terms of the Project and Financing Plan, secured in whole or in part by liens on the Pledged Revenues that are junior and subordinate to the lien on the Pledged Revenues securing payment of the Tax Increment Revenue Obligations.

Subordinate Lien Obligations means the Commercial Paper Notes, the Bank Note and any additional Subordinate Lien Obligations

Subordinate Lien Obligations means any bonds or other obligations permitted to be issued pursuant to the Section hereof entitled “Additional Senior, Parity, and Subordinate Lien Obligations,” with a lien on the Net Revenues and payable from the Net Revenues, which are subordinate to the lien of the Bonds and the Parity Lien Obligations.