Class I Obligations definition

Class I Obligations means the Class I Bonds and the Class I Auxiliary Obligations and, with respect to a Series of Bonds, the Related Class I Bonds and any Related Class I Auxiliary Obligations.

Class I Obligations means Class I Bonds and any Derivative Product the priority of payment of which is equal with that of Class I Bonds.

Examples of Class I Obligations in a sentence

• The obligations of the Authority to make fixed rate interest payments to the Reciprocal Payors under the Derivative Products relating to the 2019C Bonds are Class I Obligations under the Indenture, and the obligation of the Authority to make other payments under the Derivative Products is a General Obligation of the Authority and is not secured by the Trust Estate.

• The 2012 Series B Bonds are Class I Obligations, payable from the revenues, assets and moneys pledged under the Indenture as described herein on an equal and ratable basis with all other Class I Obligations now or hereafter outstanding under the Master Indenture.

• The 2016 Series A Bonds are Class I Obligations, payable from the revenues, assets and moneys pledged under the Indenture as described herein on an equal and ratable basis with all other Class I Obligations now or hereafter outstanding under the Master Indenture.

• The obligations of the Authority to make fixed rate interest payments to the Reciprocal Payors under the Derivative Products relating to the 2020A-1 Bonds are Class I Obligations under the Indenture, and the obligation of the Authority to make other payments under the Derivative Products is a General Obligation of the Authority and is not secured by the Trust Estate.

• The obligations of the Authority to make fixed rate interest payments to the Reciprocal Payors under the Derivative Products relating to the 2018A-2 Bonds are Class I Obligations under the Indenture, and the obligation of the Authority to make other payments under the Derivative Products is a General Obligation of the Authority and is not secured by the Trust Estate.

• The obligations of the Authority to make fixed rate interest payments to the Reciprocal Payors under the Derivative Products relating to the 2020D-2 Bonds are Class I Obligations under the Indenture, and the obligation of the Authority to make other payments under the Derivative Products is a General Obligation of the Authority and is not secured by the Trust Estate.

• The Authority's obligation to make interest payments to the 2004A Counterparty under the 2004A Derivative Product will constitute a Class I Obligation under the Master Indenture, secured on parity with the lien on the Trust Estate of the other Class I Obligations.

• The 2012 Series A Bonds are Class I Obligations, payable from the revenues, assets and moneys pledged under the Indenture as described herein on an equal and ratable basis with all other Class I Obligations now or hereafter outstanding under the Master Indenture.