Subordinate Lien Bonds definition

Subordinate Lien Bonds means any Additional Bonds or Additional Obligations payable from the Net Revenues on a subordinate lien basis to any Parity Bonds and Junior Lien Obligations, and which constitute general obligations of the City.

Subordinate Lien Bonds means any Additional Bonds payable from the Revenues, and issued on a subordinate lien basis to any Parity Bonds.

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

Examples of Subordinate Lien Bonds in a sentence

• S&P Global prior rating for Subordinate Lien Bonds was BBB+; its current rating is A-.

• Such Subordinate Lien Bonds may also constitute general obligations of the Issuer.

• So long as no Event of Default shall have occurred and be continuing, nothing herein shall prevent the City from issuing Subordinate Lien Bonds.

• Subordinate Lien Bond Fund and Subordinate Lien Reserve Fund assets are for use in paying the interest and principal of outstanding previously issued Subordinate Lien Bonds and outstanding Series 2010 Bonds.

• Rate Covenant: Net Revenues in each Fiscal Year will equal at least 120% of the Debt Service Requirement on the Senior Lein Bonds, and 100% of the Debt Service Requirement on any Subordinate Lien Bonds or other obligations then outstanding for such Fiscal Year.

More Definitions of Subordinate Lien Bonds

Subordinate Lien Bonds means all Bonds other than Senior Lien Bonds.

Subordinate Lien Bonds means any Additional Bonds payable from the Net Revenues on a subordinate lien basis to any Parity Bonds and Junior Lien Bonds, and which may constitute general obligations of the Issuer.

Subordinate Lien Bonds means Bonds that may be issued by the Corporation from time to time after the issuance of the Initial Matching Fund Securitization Bonds pursuant to a Resolution and an indenture, which Bonds are secured by a subordinate pledge on the Matching Fund Receipts and the Related Rights.

Subordinate Lien Bonds means bonds, notes, Loan Agreement or other debt obligations issued pursuant to this Resolution but with a lien subordinate to the Bonds.

Subordinate Lien Bonds means, collectively, the City’s outstanding Municipal Light and

Subordinate Lien Bonds means the Series 2014 Note and all bonds or obligations of the Regents now outstanding or hereafter issued or outstanding payable from and constituting a lien on the Pledged Revenues subordinate and junior to the lien thereon of the Senior Lien Parity Bonds on a parity with the lien of the Series 2014 Note on the Pledged Revenues.

Subordinate Lien Bonds means any bonds or other obligations of the payable with a lien on the Pledged Revenues subordinate to the lien on the Senior Lien Bonds.