Examples of Parity Debt in a sentence
So long as there does not exist an event of default hereunder and subject to the conditions provided in the Indenture, the Lessee has the right to incur Parity Debt, on a parity with the Bonds, for paying costs of any improvements, completing any improvement, financing acquisitions or start-up costs of new programs and services, or refunding or advance refunding all or any portion of any series of Bonds or any Parity Debt, or any combination of such purposes.
So long as any amount shall remain unpaid under this Lease, the Lessee will prepare and adopt an Annual Budget for each Fiscal Year covering the operation of the Project and all other operations of the Lessee, including the payment of all obligations under this Lease, any Parity Debt and any other Debt.
Prior to the incurrence of any Parity Debt, the Lessee will provide evidence satisfactory to the Trustee that each of the conditions mandated by the Indenture for the issuance of Additional Bonds, Completion Bonds and Refunding Bonds, as the case may be, has been satisfied and will deliver to the Trustee the instruments and documents required to demonstrate such compliance.