Security for Bonds. The Issuer has by Ordinance pledged the Project and the net revenues generated by the Issuer under the Project Lease as security for payment of the principal of, redemption premium, if any, and interest on the Bonds.
Security for Bonds. (a) In order to provide for the payment of the principal of and the premium, if any, and interest on the Bonds and Subordinate Obligations issued hereunder, and to secure the performance of all of the obligations of HRTAC with respect to the Bonds, the Subordinate Obligations, this Master Indenture and the Series Supplements, subject to the terms hereof and thereof, HRTAC pledges and grants to the Trustee:
(1) All of the HRTAC Revenues; and
(2) All other property of any kind mortgaged, pledged or hypothecated to provide for the payment of or to secure the Bonds and Subordinate Obligations by HRTAC or by anyone on its behalf and with its written consent at any time as and for additional security under this Master Indenture and the Series Supplements in favor of the Trustee, which is authorized to receive all such property at any time and to hold and apply it subject to the terms of this Master Indenture and the Series Supplements.
(b) In order to provide for the payment of the principal of and the premium, if any, and interest on each Series of Bonds and Subordinate Obligations issued hereunder, and to secure the performance of all of the obligations of HRTAC with respect to such Series, this Master Indenture, and the Related Series Supplement, subject to the terms hereof and thereof, HRTAC pledges and grants to the Trustee with respect to such Series (and to such Series only) the money and investments held in the Related Project Fund (if any), Related Debt Service Fund, and Related Debt Service Reserve Fund (if any).
(c) HRTAC’s authority to receive any or all of the HRTAC Revenues is subject to appropriation by the General Assembly of the Commonwealth, and neither the General Assembly nor the Commission can or will pledge, covenant or agree to impose or maintain at any particular rate or level any of the taxes and fees dedicated to the HRTF by the Commonwealth.
Security for Bonds. This Indenture constitutes a continuing, irrevocable pledge of the Pledged Revenues and certain other funds of the Authority pledged in Article II to secure payment of the principal of and redemption premium, if any, and interest on all Bonds that may, from time to time, be executed, authenticated and delivered under this Indenture. Except as otherwise provided in this Indenture, Bonds will in all respects be equally and ratably secured under this Indenture with other Bonds without preference, priority or distinction on account of the time of their authentication, delivery or maturity, so that Bonds at any time Outstanding under this Indenture will have the same right, lien and preference under this Indenture with like effect as if they had all been executed, authenticated and delivered simultaneously with other Bonds.
Security for Bonds. Bonds of a new Series may from, time to time, be executed by the Depositor and delivered to the Trustee for authentication, and thereupon the same shall be authenticated and delivered to the Depositor by the Trustee upon Depositor Order and upon delivery by the Depositor to the Trustee, and receipt by the Trustee, of the following:
(1) [Reserved].
Security for Bonds. The Bonds are to be issued under and secured by the Indenture, pursuant to which the Issuer’s right, title and interest in this Lease (except for certain rights of indemnification, payment of expenses and right to inspect the Project), and the rents, revenues and receipts received by Issuer pursuant to this Lease will be assigned to the Trustee and pledged as security for the payment of the principal of, redemption premium, if any, and interest on the Bonds.
Security for Bonds. (a) In order to provide for the payment of the principal of and the premium, if any, and interest on the Bonds of all Series issued hereunder, and to secure the performance of all of the obligations of NVTC with respect to such Bonds, this Master Indenture and the Series Supplements, subject to the terms hereof and thereof, NVTC hereby pledges and grants to the Trustee:
(1) all of the Revenues;
(2) the Revenue Stabilization Fund; and
(3) all other property of any kind mortgaged, pledged or hypothecated to provide for the payment of or to secure the Bonds by NVTC or by anyone on its behalf and with its written consent at any time as and for additional security under this Master Indenture and the Series Supplements in favor of the Trustee, which is authorized to receive all such property at any time and to hold and apply it subject to the terms of this Master Indenture and the Series Supplements.
(b) In order to provide for the payment of the principal of and the premium, if any, and interest on each Series of Bonds issued hereunder, and to secure the performance of all of the obligations of NVTC with respect to such Series, this Master Indenture, and the Related Series Supplement, subject to the terms hereof and thereof, NVTC hereby pledges and grants to the Trustee with respect to such Series (and to such Series only) the money and investments held in the Related Project Fund (if any), Debt Service Fund and Debt Service Reserve Fund (if any).
Security for Bonds. The Corporation agrees that the principal and redemption price of and the interest on the Bonds shall be payable in accordance with the Bond Indenture, and the Authority’s right, title, and interest hereunder and in and to the payments and other amounts paid or payable by the Corporation hereunder, other than amounts reimbursable to the Authority, are and shall be assigned and pledged by the Authority to the Bond Trustee to secure the payment of the Bonds and the payment of all Reimbursement Obligations due to the Bond Insurer. The Corporation agrees that all of the rights accruing to or vested in the Authority (except Unassigned Rights) hereunder may be exercised, protected, and enforced by the Bond Trustee for or on behalf of the holders of the Bonds and the Bond Insurer as the recipient of Reimbursement Obligations in accordance with the provisions hereof and the Bond Indenture. The Bonds and the Reimbursement Obligations shall also be secured by the
Security for Bonds. The Bonds are to be issued under and secured by the Financing Agreement, pursuant to which the Issuer’s right, title and interest in this Lease (except for certain rights of indemnification and payment of expenses), and the rents, revenues and receipts arising out of or in connection with the Issuer’s ownership of the Project will be assigned to the Bondholder and pledged as security for the payment of the principal of and interest on the Bonds. In addition, the Issuer will execute and deliver the Security Deed conveying to the Bondholder a security interest in the Project, as additional security for the payment of the principal of and interest on the Bonds.
Security for Bonds. (a) In order to provide for the payment of the principal of and the premium, if any, and interest on the Bonds issued hereunder, and to secure the performance of all of the obligations of HRTAC with respect to the Bonds, this Master Indenture and the Series Supplements, subject to the terms hereof and thereof, HRTAC pledges and grants to the Trustee:
(1) All of the HRTAC Revenues; and
(2) All other property of any kind mortgaged, pledged or hypothecated to provide for the payment of or to secure the Bonds by HRTAC or by anyone on its behalf and with its written consent at any time as and for additional security under this Master Indenture and the Series Supplements in favor of the Trustee, which is authorized to receive all such property at any time and to hold and apply it subject to the terms of this Master Indenture and the Series Supplements.
(b) In order to provide for the payment of the principal of and the premium, if any, and interest on each Series of Bonds issued hereunder, and to secure the performance of all of the obligations of HRTAC with respect to such Series, this Master Indenture, and the Related Series Supplement, subject to the terms hereof and thereof, HRTAC pledges and grants to the Trustee with respect to such Series (and to such Series only) the money and investments held in the Related Project Fund (if any), Related Bond Debt Service Fund and Related Debt Service Reserve Fund (if any).
(c) HRTAC’s authority to receive any or all of the HRTAC Revenues is subject to appropriation by the General Assembly of the Commonwealth, and neither the General Assembly nor the Commission can or will pledge, covenant or agree to impose or maintain at any particular rate or level any of the taxes and fees dedicated to the HRTF by the Commonwealth.
Security for Bonds. The Indenture creates a valid pledge of, and first lien upon, Revenues deposited thereunder and the moneys in certain funds and accounts established under the Indenture, subject in all cases to the provisions of the Indenture permitting the application thereof for the purposes and on the terms and conditions set forth therein.
