Outstanding Parity Obligations definition

Outstanding Parity Obligations means obligations issued and outstanding having a lien payable from Net Revenues of the System on a parity with the Loan Agreement.

Outstanding Parity Obligations means the leases or other obligations, other than the Parity Bonds, of the Municipality that have been issued or incurred prior to the Loan Effective Date, payable from the Net Revenues and standing on a parity and equality with the Parity Bonds with respect to the Lien on the Net Revenues, including but not limited to the WIFIA Credit Agreement.

Outstanding Parity Obligations means, collectively, the Issuer’s obligations with respect to the Series 2014 Bonds, the Series 2015 Bonds, the Series 2016 Bonds and the 2016 Loan Agreement.

Examples of Outstanding Parity Obligations in a sentence

• The Direct Obligation shall represent the financial responsibility of each Participant in the Financing System with respect to Outstanding Parity Obligations.

• The amounts due under this Loan Agreement and any Outstanding Parity Obligations and Additional Parity Obligations (exclusive of the Local Borrower’s repayment obligations with respect to those reserve fund credit instruments in connection with this Loan and any Additional Parity Obligations which shall be secured on a subordinate basis), shall be equally and ratably secured by said pledge and lien without one having priority over the other.

• The Net Revenues are hereby pledged by the Local Borrower to the payment of all amounts due under the Loan and the repayment of such amounts shall be secured by a lien on and pledge of the Net Revenues on parity with the pledge and lien granted by the Local Borrower for the payment and security of Outstanding Parity Obligations and Additional Parity Obligations.

• In each Fiscal Year, the Board shall establish, charge, and use its reasonable efforts to collect at each Participant the Pledged Revenues which, if collected, would be sufficient to meet all financial obligations of the Board for such Fiscal Year relating to the Financing System including all deposits or payments due on or with respect to (i) the Prior Encumbered Obligations and (ii) all Outstanding Parity Obligations.

• The Series 2021 Refunding Bonds are hereby secured on a parity as to security and source of payment with the Outstanding Parity Obligations, and this Resolution provides for and creates a continuing lien to secure the full and final payment of the principal of or redemption price or interest on all Series 2021 Refunding Bonds.

More Definitions of Outstanding Parity Obligations

Outstanding Parity Obligations means, collectively, the Series 2017 Bonds upon their issuance, the 2012 Parity Debt and any Parity Obligations issued in the future ranking on the basis of parity as to security and source of payment with the Series 2017 Bonds and the 2012 Parity Debt.

Outstanding Parity Obligations means, on and after the Closing Date, collectively,

Outstanding Parity Obligations means (1) the State Environmental Improvement and Energy Resources Authority Water Pollution Control and Drinking Water Revenue Bonds (State Revolving Funds Programs), Series 2005C and the related promissory note dated November 30, 2005 from the Corporation to the Authority in the original principal amount of $17,625,000; (2) the State Environmental Improvement and Energy Resources Authority Water Pollution Control and Drinking Water Revenue Bonds (State Revolving Funds Programs), Series 2005A and the related promissory note dated May 1, 2005 from the Corporation to the Authority in the original principal amount of $23,000,000; and (3) the State Environmental Improvement and Energy Resources Authority Water Pollution Control and Drinking Water Revenue Bonds (State Revolving Funds Programs – Master Trust), Series 2001C and the related promissory note dated November 1, 2001 from the Corporation to the Authority in the original principal amount of $2,370,000.

Outstanding Parity Obligations means, collectively, the Issuer’s outstanding (i) Refunding Bonds, Series 2002, dated December 1, 2002; (ii) Certificates of Indebtedness, Series 2004, dated April 1, 2004; and (iii) Certificates of Indebtedness, Series 2005, dated April 27, 2005, described in the preambles of this Bond Resolution.

Outstanding Parity Obligations means the (i) Issuer’s Certificates of Indebtedness, Series 1999, (ii) Road Bonds, Series 2001, and (iii) Road Bonds, Series 2001-B, as more fully described in the preambles to this ordinance.

Outstanding Parity Obligations means all obligations of the Agency outstanding on the date of adoption of this Resolution payable from all or a portion of Available Agency Revenues on a parity with the Series 2017 Bonds, as set forth on Exhibit A hereto and incorporated herein by reference.

Outstanding Parity Obligations means, collectively, (i) the Non-Refunded Series 2012 Refunding Bonds, (ii) the Parish Note, (iii) the City Promissory Note, and (iv) the Parish Payment Obligations.