Common use of Pledge of Pledged Revenues Clause in Contracts

Pledge of Pledged Revenues. The Reimbursement Obligation shall be a special and limited obligation of the Financing Entity payable solely from the Pledged Revenues. The Financing Entity hereby irrevocably pledges the Pledged Revenues to payment of the Reimbursement Obligation. The Pledged Revenues, when and as received by the Financing Entity shall be subject to the lien of such pledge without any physical delivery, filing, or further act. The obligation to reimburse USOM for Eligible Costs, which obligation is evidenced by this Agreement, is and shall be a special and limited obligation of the Financing Entity secured by an irrevocable pledge of, and payable as to principal and interest thereon, solely from the Pledged Revenues. USOM may not look to any general or other fund of the Financing Entity for the payment of principal of or interest thereon except the Pledged Revenues. Principal of and interest on the Reimbursement Obligation shall not constitute an indebtedness, financial obligation or liability of the City or the State or any county, municipality or public body thereof, and neither the City, the State nor any political subdivision thereof shall be liable thereon, nor in any event shall the principal of or interest on the Reimbursement Obligation be payable out of any funds or properties other than the Pledged Revenues. Further, the Reimbursement Obligation shall not constitute a debt, indebtedness, financial obligation or liability of the City within the meaning of any constitutional, statutory or charter debt limitation or provision.

Pledge of Pledged Revenues. The Reimbursement Obligation shall be a special and limited obligation of the Financing Entity payable solely from the Pledged Revenues. The Financing Entity hereby irrevocably pledges the Pledged Revenues to payment of the Reimbursement Obligation. The Pledged Revenues, when and as received by the Financing Entity shall be subject to the lien of such pledge without any physical delivery, filing, or further act. The obligation to reimburse USOM the City or an Infrastructure Developer for Eligible Costs, which obligation is evidenced by this AgreementMemorandum, is and shall be a special and limited obligation of the Financing Entity secured by an irrevocable pledge of, and payable as to principal and interest thereon, solely from the Pledged Revenues. USOM No Infrastructure Developer may not look to any general or other fund of the Financing Entity for the payment of principal of or interest thereon except the Pledged Revenues. Principal of and interest on the Reimbursement Obligation shall not constitute an indebtedness, financial obligation or liability of the City or the State or any county, municipality or public body thereof, and neither the City, the State nor any political subdivision thereof shall be liable thereon, nor in any event shall the principal of or interest on the Reimbursement Obligation be payable out of any funds or properties other than the Pledged Revenues. Further, the Reimbursement Obligation shall not constitute a debt, indebtedness, financial obligation or liability of the City within the meaning of any constitutional, statutory or charter debt limitation or provision.

Pledge of Pledged Revenues. The Reimbursement Obligation shall be a special and limited obligation of the Financing Entity payable solely from the available Pledged Revenues. The Financing Entity hereby irrevocably pledges the Pledged Revenues to payment of the Reimbursement Obligation. The Pledged Revenues, when and as received by the Financing Entity shall be subject to the lien of such pledge without any physical delivery, filing, or further act. The obligation to reimburse USOM Developer for Eligible Costs, which obligation is evidenced by this Agreement, is and shall be a special and limited obligation of the Financing Entity secured by an irrevocable pledge of, and payable as to principal and interest thereon, solely from the Pledged Revenues. USOM Developer may not look to any general or other fund of the Financing Entity for the payment of principal of or interest thereon except the Pledged Revenues. Principal of and interest on the Reimbursement Obligation shall not constitute an indebtedness, financial obligation or liability of the City or the State or any county, municipality or public body thereof, and neither the City, the State nor any political subdivision thereof shall be liable thereon, nor in any event shall the principal of or interest on the Reimbursement Obligation be payable out of any funds or properties other than the Pledged Revenues. Further, the Reimbursement Obligation shall not constitute a debt, indebtedness, financial obligation or liability of the City within the meaning of any constitutional, statutory or charter debt limitation or provision.