Local obligation law definition

Local obligation law means a local law passed by the local legislative body
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Local obligation law means a local law passed by the local legislative body regarding a bond that was approved by a majority of qualified voters in an election.
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Local obligation law means a local law passed by the local legislative body regarding the issuance of a bond, note, lease, finance agreement, or other similar obligation.
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Related to Local obligation law

  • Additional Obligations as defined in the Base Intercreditor Agreement.

  • Municipal Obligations means "Municipal Obligations" as defined in the Fund's registration statement on Form N-2 on file with the Securities and Exchange Commission, as such registration statement may be amended from time to time (the "Registration Statement").

  • General Obligation Bonds means, collectively, the Limited Tax General Obligation Bonds and the Unlimited Tax General Obligation Bonds.

  • General obligation bond means a Bond, the payment of principal of and interest on which is a General Obligation of the Authority.

  • Term Loan Documents means the “Loan Documents” as defined in the Term Loan Agreement.

  • ABL Loan Documents means the “Loan Documents” as defined in the ABL Credit Agreement.

  • Financial Obligation means a (i) debt obligation; (ii) derivative instrument entered into in connection with, or pledged as security or a source of payment for, an existing or planned debt obligation; or (iii) guarantee of (i) or (ii). The term Financial Obligation shall not include municipal securities as to which a final official statement has been provided to the MSRB consistent with the Rule.

  • Applicable Foreign Obligor Documents has the meaning specified in Section 5.12.

  • Parity Obligations means (i) all obligations of the Issuer in respect of Tier 1 Instruments (excluding any such obligations that rank, or are expressed to rank, junior to claims in respect of the Notes), and (ii) any other securities or obligations (including, without limitation, any guarantee, credit support agreement or similar undertaking) of the Issuer that rank, or are expressed to rank, pari passu with claims in respect of the Notes and/or any Parity Obligation.

  • Term Loan Obligations means the “Obligations” as defined in the Term Loan Credit Agreement.

  • Parity Obligation means any instrument or other obligation issued or entered into by the Issuer that constitutes or qualifies as Additional Tier 1 Capital (or its equivalent) under applicable Capital Regulations or any instrument or other obligation issued, entered into, or guaranteed by the Issuer that ranks or is expressed to rank pari passu with the Capital Securities by operation of law or contract, which for the avoidance of doubt, excludes any Junior Obligations of the Issuer.

  • Subordinated Liabilities means liabilities subordinated to the Borrower’s obligations to Lender in a manner acceptable to Lender in its sole discretion.