Common use of Pledge of Revenues Clause in Contracts

Pledge of Revenues. The Bonds, and to the extent allowed by applicable law all other sums due pursuant to this Loan Agreement, including the Administrative Fee, equally with the Parity Obligations, if any, shall be secured and payable from a pledge and dedication of the revenues of the combined water and sewerage system, after payment of the reasonable and necessary expenses of operating and maintaining the System. Subject to the terms of the Authorizing Ordinance, the net revenues of the System shall be set aside in the Funds and Accounts described in the Authorizing Ordinance and shall be and remain so pledged for the security and payment of the Bonds in principal and interest, until the Bonds shall be fully paid and discharged, as provided in the Authorizing Ordinance. The City agrees that it shall not further encumber the pledged revenues, to the payment of any indebtedness having an equal or superior lien to that enjoyed by the Bonds, other than through the issuance of Parity Obligations in the manner and under the conditions provided in the Authorizing Ordinance.

Pledge of Revenues. The BondsBond, and to the extent allowed by applicable law all other sums due pursuant to this Loan Agreement, including the Administrative Fee, equally with the Parity Obligations, if any, shall be secured and payable from a pledge and dedication of the revenues of the combined water wastewater treatment and sewerage disposal system and natural gas distribution system, after payment of the reasonable and necessary expenses of operating and maintaining the System. Subject to the terms of the Authorizing Ordinance, the net revenues of the System shall be set aside in the Funds and Accounts described in the Authorizing Ordinance and shall be and remain so pledged for the security and payment of the Bonds Bond in principal and interest, until the Bonds Bond shall be fully paid and discharged, as provided in the Authorizing Ordinance. The City agrees that it shall not further encumber the pledged revenues, to the payment of any indebtedness having an equal or superior lien to that enjoyed by the BondsBond, other than through the issuance of Parity Obligations in the manner and under the conditions provided in the Authorizing Ordinance.

Pledge of Revenues. The BondsBond, and to the extent allowed by applicable law all other sums due pursuant to this Loan Agreement, including the Administrative Fee, equally with the Parity Obligations, if any, shall be secured and payable from a pledge and dedication of the revenues of the combined water and sewerage system, after payment of the reasonable and necessary expenses of operating and maintaining the System. Subject to the terms of the Authorizing Ordinance, the net revenues of the System shall be set aside in the Funds and Accounts described in the Authorizing Ordinance and shall be and remain so pledged for the security and payment of the Bonds Bond in principal and interest, until the Bonds Bond shall be fully paid and discharged, as provided in the Authorizing Ordinance. The City agrees that it shall not further encumber the pledged revenues, to the payment of any indebtedness having an equal or superior lien to that enjoyed by the BondsBond, other than through the issuance of Parity Obligations in the manner and under the conditions provided in the Authorizing Ordinance.Ordinance.‌

Pledge of Revenues. The Bonds, and to the extent allowed by applicable law all other sums due pursuant to this Loan Agreement, including the Administrative Fee, equally with the Parity Obligations, if any, shall be secured and payable from a pledge and dedication of the revenues of the combined water and sewerage system, after payment of the reasonable and necessary expenses of operating and maintaining the System. Subject to the terms of the Authorizing Ordinance, the net revenues of the System shall be set aside in the Funds and Accounts described in the Authorizing Ordinance and shall be and remain so pledged for the security and payment of the Bonds in principal and interest, until the Bonds shall be fully paid and discharged, as provided in the Authorizing Ordinance. The City agrees that it shall not further encumber the pledged revenues, to the payment of any indebtedness having an equal or superior lien to that enjoyed by the Bonds, other than through the issuance of Parity Obligations in the manner and under the conditions provided in the Authorizing Ordinance.Ordinance.‌