No Lien on or Pledge of Ad Valorem Revenues Sample Clauses

No Lien on or Pledge of Ad Valorem Revenues. The pledge by the City of the City's Share and the County of the County's Share, of the Dedicated Sales Surtax, shall not constitute or create a lien, either legal or equitable, on any of the City’s or the County’s respective ad valorem revenues or funds. No holder of the Bonds shall ever have the right to compel any exercise of the ad valorem taxing power of the City or the County to make the payments herein provided against any property of the City or the County, except for the Dedicated Sales Surtax expressly pledged by this Agreement, nor shall this Agreement or the Bonds constitute a charge, lien or encumbrance, either legal or equitable, upon any property or funds of the City or the County, except as expressly herein provided. Neither the City nor the County shall ever be required to levy ad valorem taxes on any property within its boundaries to pay either of their share of debt service payments or any other payments herein provided.
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Related to No Lien on or Pledge of Ad Valorem Revenues

  • CONSENSUAL LIEN ON SHARES You grant and consent to a lien on Your shares with Us (except for XXX and Xxxxx accounts) and any dividends due or to become due to You from Us to the extent You owe on any unpaid Credit Card balance.

  • NO STRIKE PLEDGE The Union agrees that during the life of this Agreement, its agents, or its members shall not authorize, instigate, aid, or engage in any work stoppage, slowdown, sick-out, refusal to work, picketing, or strike against the District. If, during the life of this Agreement, the employees, for whatever reason engage in the aforementioned provisions, the Union shall immediately publicly order the striking employees to discontinue such action through the local media. Failure of the Union to take such action shall be subject to enforcement by the ordinary process of law.

  • Warranty Against Encumbrances Seller warrants that the goods are now free, and at the time of delivery shall be free, from any security interest or other lien or encumbrance.

  • Permitted Encumbrances The term “Permitted Encumbrances” shall mean:

  • Negative Pledge Neither the Borrower nor any Subsidiary will create, assume or suffer to exist any Lien on any asset now owned or hereafter acquired by it, except:

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