Parity Debt. (i) The Borrower shall ensure that the lenders from time to time in respect of any outstanding Parity Debt shall, in the documents governing the terms of such Indebtedness, (a) recognize the existence and validity of the obligations represented by the Notes and (b) agree to refrain from making or asserting any claim that the Loan Documents or the obligations represented by the Notes are invalid or not enforceable in accordance with its and their terms as a result of the circumstances surrounding the incurrence of such obligations.
Parity Debt. The District further covenants that, except for obligations issued or incurred to prepay the Installment Payments in full pursuant to Section 4.02 hereof, the District shall not issue or incur any Parity Debt unless:
Parity Debt. The Corporation may incur Parity Debt, subject, however to compliance with Section IX of this Regulatory Agreement and the following conditions:
Parity Debt. In addition to the Loan, the Agency may issue or incur Parity Debt in such principal amount as shall be determined by the Agency. The Agency may issue and deliver any Parity Debt subject to the following specific conditions which are hereby made conditions precedent to the issuance and delivery of such Parity Debt issued under this Section 2.07:
Parity Debt. Except for debt issued to refund the Loan, any Parity Debt, or any Senior Debt, the Agency may not issue or incur Parity Debt secured by Tax Revenues. Any document authorizing such Parity Debt must provide that (i) interest is payable on April 1 and October 1 in each year of the term of such refunding bonds except the first twelvemonth period, during which interest may be payable on either April 1 or October 1; (ii) the principal of such refunding bonds is payable only on October 1 in any year; and (iii) the final maturity of any refunding bonds does not exceed the final maturity of the Bonds being refunded. Annual debt service on the refunding bonds must be lower than annual debt service on the Bonds being refunded during every year the refunding bonds will be outstanding.
Parity Debt. The obligations evidenced by this Agreement and the Notes constitute Parity Debt (as defined in the Trust Agreement) and this Agreement shall be considered a Parity Debt Agreement.
Parity Debt. The City may issue Parity Debt in compliance with Section 3.06.
Parity Debt. In addition to the Series A Bonds, the City may issue Parity Debt with respect to Improvement Area No. in such principal amount as shall be determined by the City, under a Supplemental Agreement entered into by the City and the Fiscal Agent. Any such Parity Debt shall constitute Bonds hereunder and shall be secured by a lien on the Special Tax Revenues and funds pledged for the payment of the Bonds hereunder on a parity with all other Bonds Outstanding hereunder. The City may issue Parity Debt without the prior consent of the Owners, but subject to the following specific conditions precedent:
Parity Debt. Loans, bonds, notes, advances or indebtedness, or other obligations of City payable from and secured by a pledge of water rates, and charges of City on a parity with the obligations to be paid by City pursuant to this Agreement.
Parity Debt. In addition to its obligations hereunder, City may issue or incur Parity Debt in such principal amount as shall be determined by City in accordance with Section 16.3.2.C.
