Examples of Obligation Documents in a sentence
To the extent the City enters into such agreements and pledges Net Operating Revenues, Designated Revenues or Junior Subordinate Lien Revenues to the payments due under such agreements, the City may do so if the City satisfies the tests for additional Revenue Obligations set forth in the Senior Lien Revenue Obligation Documents, the Junior Lien Revenue Obligation Documents and the Junior Subordinate Lien Revenue Obligation Documents, as applicable, subject to the provisions set forth below.
The City covenants that it will not sell or dispose of the System, except as permitted under the Junior Lien Revenue Obligation Documents.
Further, any change to the Junior Obligation Documents and the Senior Loan Documents that results in an increase in the interest rate, an increase of the total indebtedness, an acceleration of the amortization or payment schedule, or any changes that would preclude or impair a reasonable opportunity to cure any defaults by the Borrower under the Junior Obligations Documents and Senior Loan Documents shall not be effective without the prior written consent of HUD.
In the event of any conflicts between (i) the Junior Obligation Documents and the Senior Loan Documents and (ii) the RAD Use Agreement, the terms of the RAD Use Agreement shall control.
Further, the Junior Obligation Documents and Senior Loan Documents shall remain automatically subordinate to the RAD Use Agreement in the event any subsequent modification or amendments are deemed necessary to the RAD Use Agreement; provided, that the Senior Lender has been given notice of such modification or amendment prior to the execution thereof.