Other Bonds definition
Examples of Other Bonds in a sentence
If Other Assets are financed with the proceeds of other revenue bonds (“Other Bonds”), such Other Bonds (i) shall have separate trust accounts, (ii) shall bear their own trustee and other fees, and (iii) shall constitute a claim solely against the Other Assets pledged for the payment thereof and the holders of such Other Bonds shall have no recourse to any asset of the Borrower not pledged to the payment thereof.
GC-13 5.01 Performance, Payment, and Other Bonds........................................................................................................
Any pledge, mortgage, or assignment made in connection with any Other Bonds shall be protected, and any funds pledged or assigned for the payment of principal, premium, if any, or interest on the Other Bonds shall not be used for the payment of principal, premium, if any, or interest on the Bonds.
The Bonds and the Other Bonds will have priority over the Loan both for payment of debt service and in the Collateral.
IGU will not enter into any indebtedness in excess of One Million Dollars ($1,000,000) for any particular indebtedness or more than Five Million Dollars ($5,000,000) in the aggregate, except for the Bonds, the Other Bonds, and the Loan, without the prior written consent of the Authority.