Examples of Lien in a sentence
From the date hereof, no Lien on the Security securing any swap termination payments payable from Pledged Revenues shall be senior in priority to or pari passu with the Lien on the Security granted in support of the Parity Obligations under the Ordinance.
The Bonds, the Liquidity Provider Bonds and the other Obligations of the City hereunder are secured by an irrevocable Lien on and pledge of, and are payable solely from the Security; and such Lien and pledge of the Security shall be (i) pari passu with the Lien on the Security granted in support of the Parity Obligations under the Ordinance and (ii) prior in right and claim as to any other indebtedness, liability or obligation (other than Parity Obligations) of the City payable from the Security.
The City shall not, directly or indirectly, incur, create or permit to exist any Lien on all or any part of the Security that is senior to the Lien on Security securing the Parity Obligations.
Not create or suffer to exist any Lien upon or with respect to any of the funds or accounts created under the Ordinance except the Liens specifically permitted under the Ordinance and this Agreement.
The City will promptly, and in any event within five (5) Business Days, notify the Bank of the occurrence of any “Event of Default” under the Ordinance or of a default under this Agreement, any Related Document or any ordinance, indenture, agreement or other instrument pursuant to which any Subordinate Xxxx Xxxxx or Separate Lien Obligations are issued, specifying the details thereof and the action that the City proposes to take with respect thereto.