Common use of Superior and Subordinate Obligations Clause in Contracts

Superior and Subordinate Obligations. The City may not issue or incur any additional bonds or other obligations during the Term of this Agreement having any priority in payment of principal or interest out of the Net Revenues over the Installment Payments. Nothing herein is intended or shall be construed to limit or affect the ability of the City to issue, enter into or incur (a) Parity Debt under Section 5.8, or (b) obligations which are either unsecured or which are secured by an interest in the Net Revenues which is junior and subordinate to the pledge of and lien upon the Net Revenues established hereunder.

Superior and Subordinate Obligations. The City may shall not issue or incur any additional bonds or other obligations during the Term of this Agreement having any priority in payment of principal or interest out of the Net Revenues over the Installment Payments. Nothing herein is intended or shall be construed to limit or affect the ability of the City to issue, enter into issue or incur (a) Parity Debt under Obligations pursuant to Section 5.84.9, or (b) obligations which are either unsecured or which are secured by an interest in the Net Revenues which is junior and subordinate to the pledge of and lien upon the Net Revenues established hereunder.

Superior and Subordinate Obligations. The City may shall not issue or incur any additional bonds or other obligations during the Term of this Installment Sale Agreement having any priority in payment of principal or interest out of the Gross Revenues or the Net Revenues over the Installment Payments. Nothing herein is intended or shall be construed to limit or affect the ability of the City to issue, enter into issue or incur (a) Parity Debt under Obligations pursuant to Section 5.84.9, or (b) obligations which are either unsecured or which are secured by an interest in the Net Revenues which is are junior and subordinate to the pledge of and lien upon the Net Revenues established hereunder.

Superior and Subordinate Obligations. The As to each Enterprise, the City may not issue or incur any additional bonds or other obligations during the Term of this Agreement having any priority in payment of principal or interest out of the respective Gross Revenues or Net Revenues over the respective Installment Payments. Nothing herein is intended limits or shall be construed to limit or affect affects the ability of the City to issue, enter into issue or incur (a) Parity Debt under Section 5.8, or (b) obligations which are either unsecured or which are secured by an interest in the such Net Revenues which is junior and subordinate to the pledge of and lien upon the respective Net Revenues established hereunder.