Issuance of Other Obligations. The Issuer and the Company expressly reserve the right to enter into, to the extent permitted by law, an agreement or agreements other than this Loan Agreement with respect to the issuance by the Issuer, under an indenture or indentures other than the Indenture, of obligations to provide funds to defray any additional costs of construction of the Facilities or to refund any or all of the Bonds.
Issuance of Other Obligations. The Authority and the Company expressly reserve the right to enter into, to the extent permitted by law, but shall not be obligated to enter into, an agreement or agreements other than this Agreement with respect to the issuance by the Authority, under an indenture or indentures other than the Indenture, of obligations to provide additional funds to pay the cost of construction of the Facilities or obligations to refund all or any principal amount of the Bonds, or any combination thereof.
Issuance of Other Obligations. The Pollution Control Corporation and the Company expressly reserve the right to enter into, to the extent permitted by law, but shall not be obligated to enter into, an agreement or agreements other than this Agreement with respect to the issuance by the Pollution Control Corporation, under an indenture or indentures other than the Indenture, of obligations to provide additional funds to pay the cost of construction of the Facilities or obligations to refund all or any principal amount of the Bonds, or any combination thereof.
Issuance of Other Obligations. Except for the Bond, the County will not issue any other obligations payable from the Non-Ad Valorem Revenues nor voluntarily create or cause to be created any debt, lien, pledge, assignment, encumbrance or other charge against the Non-Ad Valorem Revenues, or any part thereof, except as set out below.
Issuance of Other Obligations. Neither the City nor the County will issue other obligations, including any obligations that may be issued on parity with their respective obligations hereunder, from the Dedicated Sales Surtax, or any portion thereof, or voluntarily create or cause to be created any additional debt, lien, pledge, assignment, encumbrance or other charge having priority to, being on a parity with or junior to their respective obligations hereunder, upon the Dedicated Sales Surtax.
Issuance of Other Obligations. 61 Section 10.02. Issuance of Additional Parity Obligations .................. 61 Article XI Concerning the Mortgaged Properties
Issuance of Other Obligations. During such time as the Note is Outstanding hereunder, the City agrees and covenants with the Lender that, prior to the issuance of any additional Debt of the City secured by or payable from Non-Ad Valorem Revenues, Non-Ad Valorem Revenues shall cover projected Maximum Annual Debt Service on the Note and maximum annual debt service on such Debt by at least 1.5x. The calculation required above shall be determined using the average of actual revenues for the prior two Fiscal Years based on the City’s annual audited financial statements. For the purposes of the covenants contained in this Section 10(G), maximum annual debt service on Debt means, with respect to Debt that bears interest at a fixed interest rate, the actual maximum annual debt service, and, with respect to Debt which bears interest at a variable interest rate, maximum annual debt service on such Debt shall be determined assuming that interest accrues on such Debt at the current "Bond Buyer Revenue Bond Index" as published in The Bond Buyer no more than two weeks prior to any such calculation; provided, however, if any Debt, whether bearing interest at a fixed or variable interest rate, constitutes Balloon Indebtedness, as defined in the immediately following sentence, maximum annual debt service on such Debt shall be determined assuming such Debt is amortized over 10 years on an approximately level debt service basis. For purposes of the foregoing sentence, "Balloon Indebtedness" means Debt, 25% or more of the original principal of which matures during any one Fiscal Year.
Issuance of Other Obligations. Except for the Note, the City will not issue any other obligations payable from the Non-Ad Valorem Revenues nor voluntarily create or cause to be created any debt, lien, pledge, assignment, encumbrance or other charge against the Non-Ad Valorem Revenues, or any part thereof, except as set out below. The City may incur additional Covenant Debt only if the total amount of Non-Ad Valorem Revenues for the prior Fiscal Year were at least 1.2 times the maximum annual debt service of all Covenant Debt then outstanding and the Covenant Debt proposed to be incurred (collectively, "Debt"). For purposes of calculating maximum annual debt service if the terms of the Debt are such that interest thereon for any future period of time is to be calculated at a rate which is not then susceptible of precise determination ("Variable Rate Debt"), interest on such Variable Rate Debt shall be computed as follows:
(a) if the principal amount of Variable Rate Debt (including any Variable Rate Debt proposed to be incurred) is less than or equal to 25% of the principal amount of all Debt (including the Debt proposed to be incurred), an interest rate equal to the higher of 12% per annum or The Bond Buyer 40 Index shall be assumed; or
(b) if the principal amount of Variable Rate Debt (including any Variable Rate Debt proposed to be incurred) is more than 25% of the principal amount of all Debt (including the Debt proposed to be incurred), the maximum rate which could be borne by such Variable Rate Debt shall be assumed. For purposes of calculating maximum annual debt service, balloon indebtedness shall be assumed to amortize in up to 20 years on a level debt service basis. In the event that the Issuer is required to fund a reserve fund, the funding of such reserve fund shall be included in the calculation of debt service.
Issuance of Other Obligations. Subject to compliance with Section 8.04(b) hereof, nothing in this Indenture shall require the State to finance the costs of Improvements to parking facilities at the Airport by the issuance of Bonds under this Indenture.
Issuance of Other Obligations. The City and the Company expressly reserve the right to enter into, to the extent permitted by law, but shall not be obligated to enter into, an agreement or agreements other than this Agreement with respect to the issuance by the City, under an ordinance or ordinances other than the Ordinance, of obligations to provide additional funds to pay the cost of construction of the Facilities or obligations to refund all or any principal amount of the Bonds, or any combination thereof.
