Subordinate Securities definition

Subordinate Securities means securities of the City pertaining to the Water System secured by and payable from Net Revenues inferior and junior to the pledge thereof to the Bonds and any Parity Securities, to the extent issued in accordance with the terms, conditions and limitations hereof.

Subordinate Securities means any bonds, warrants, notes, securities, leases, contracts or other financial obligations payable from the Net Revenues subordinate and junior to the lien thereon of the Bonds and any Parity Bonds.

Subordinate Securities means securities payable from the Net Pledged Revenues subordinate and junior to the lien thereon of the Bonds and any Parity Bonds.

Examples of Subordinate Securities in a sentence

• Nothing herein, except the limitations stated in Section 7F hereof, prevents the Enterprise or the City from issuing Subordinate Securities for any lawful purpose.

• Redwood shall initially retain (i) the AAA IO Senior Securities that are not Underwritten AAA IO Senior Securities, (ii) the Subordinate Securities and (iii) the Residual Securities (the “Redwood Retained Securities”) issued by the Issuing Entity.

• Fifth, any moneys thereafter remaining in the Revenue Fund may be used by the City for the payment of the principal of and interest on, and payments to the United States required by Section 148(f) of the Tax Code with respect to, Subordinate Securities and may be used to create reasonable reserves for such securities.

• Redwood shall initially retain (i) the AAA IO Senior Securities that are not Underwritten AAA IO Senior Securities and (ii) the Subordinate Securities (the “Redwood Retained Securities”) issued by the Issuing Entity.

• The City shall not create or suffer to be created any lien or charge on the Water System or any part thereof, or upon the Gross Revenues, except the pledge and lien created by this Ordinance for the payment of the Bonds and any Outstanding Superior Securities, Parity Securities, or Subordinate Securities issued in accordance herewith, and except as herein otherwise permitted.

More Definitions of Subordinate Securities

Subordinate Securities means all securities of the Company which have 2 "piggyback" registration rights subordinate to those of the Registrable Securities as set forth in Section 3.

Subordinate Securities means bonds or securities of the County pertaining to the Water System which have a lien on the Net Revenues that is subordinate and junior to the lien thereon of the Bonds and any Parity Securities, to the extent issued in accordance with the terms, conditions and limitations hereof.

Subordinate Securities means each series of bonds, notes, certificates of indebtedness or other obligations or evidences of indebtedness permitted to be issued by the Authority pursuant to the Authorizing Acts and unsecured or secured in whole or in part by liens on the Net Revenues, First Lien Pledged Funds and Second Lien Pledged Funds that are junior and subordinate to the lien on such funds securing payment of First Lien Parity Obligations and Second Lien Parity Obligations.

Subordinate Securities means securities of the Authority pertaining to the Water System and payable from and secured by Net Revenues subordinate and junior to the pledge thereof to the Bond.

Subordinate Securities means any Securities hereafter issued or executed by the Enterprise or the City and payable in whole or in part from all or a portion of the Net Pledged Revenues subordinate and junior to the lien thereon of the Bonds and any Parity Bonds.

Subordinate Securities means in either case bonds or securities payable from the Pledged Revenues and junior to the lien thereon of the 2018 Bonds.

Subordinate Securities means the 2010 Bonds, the 2018B Bonds, the 2018C Bonds, the 2018D Bonds, and any other securities of the City pertaining to the Municipal Utility System and payable from and secured by Gross Revenues subordinate and junior to the pledge thereof to the Parity Securities, to the extent issued in accordance with the terms, conditions and limitations hereof.