Project not Security for Bonds. It is expressly recognized by the parties that the Project will not constitute any part of the security for the Bonds. The principal security for the Bonds shall be the Note and the absolute, irrevocable and unconditional obligation of the Company to make the Note Payments.
Appears in 9 contracts
Samples: Participation Agreement (Consolidated Edison Co of New York Inc), Participation Agreement (Orange & Rockland Utilities Inc), Participation Agreement (Consolidated Edison Inc)
Project not Security for Bonds. It is expressly recognized by the parties that the Project will not constitute any part of the security for the Bonds. The principal security for the Bonds shall be the Note Company Obligation and the absolute, irrevocable and unconditional obligation of the Company to make the Note Company Obligation Payments.
Appears in 2 contracts
Samples: Participation Agreement (Keyspan Corp), Participation Agreement (Keyspan Corp)
Project not Security for Bonds. It is expressly recognized by the parties that none of the Project or any of its electricity distribution facilities will not constitute any part of the security for the Bonds. The principal security for the Bonds shall be the Note and the absolute, irrevocable and unconditional obligation of the Company to make the Note Payments.
Appears in 2 contracts
Samples: Participation Agreement (Consolidated Edison Inc), Participation Agreement (Consolidated Edison Co of New York Inc)
Project not Security for Bonds. It is expressly recognized by the parties that the Project will not constitute any part of the security for the Bonds. The principal security for the Bonds shall be the Note First Mortgage Bonds and the absolute, irrevocable and unconditional obligation of the Company Corporation to make the Note First Mortgage Bond Payments.
Appears in 1 contract
Samples: Participation Agreement (Niagara Mohawk Power Corp /Ny/)
Project not Security for Bonds. It is expressly recognized by the parties that none of the Project or any of its gas distribution facilities will not constitute any part of the security for the Bonds. The principal security for the Bonds shall be the Note and the absolute, irrevocable and unconditional obligation of the Company to make the Note Payments.
Appears in 1 contract
