Parity Notes definition

Parity Notes has the meaning ascribed to such term in Section 5.3;

Parity Notes means any class or series of Issuer indebtedness currently outstanding or hereafter created which ranks on a parity with the Notes (prior to any Automatic Conversion) as to distributions upon liquidation, dissolution or winding-up.

Parity Notes means any class or series of Company indebtedness currently outstanding or hereafter created which ranks on a parity with the Notes (prior to any Automatic Conversion) as to distributions upon liquidation, dissolution or winding-up, and includes the Company’s $750,000,000 6.00% Fixed-to-Floating Rate Subordinated Notes Series 2016-A due 2077, the Company’s $1,000,000,000 5.50% Fixed-to-Floating Rate Subordinated Notes Series 2017-A due 2077, the Company’s CAD$1,650,000,000 5.375% Fixed-to-Floating Rate Subordinated Notes Series 2017-B due 2077, the Company’s US$850,000,000 6.25% Fixed-to-Floating Rate Subordinated Notes Series 2018-A due 2078 and the Company’s CAD$750,000,000 6.625% Fixed-to-Floating Rate Subordinated Notes Series 2018-C due 2078.

Examples of Parity Notes in a sentence

• The Agency’s obligation to pay the Obligations is pari passu with its obligation to pay all other Parity Notes.

• So long as the Notes are outstanding and unpaid the rates or charges to consumers of services of the System shall be sufficient in each year for the payment of the proper and reasonable expenses of operation and maintenance of the System and for the payment of principal and interest on the Notes and Parity Notes and obligations as the same fall due, and to provide for the creation of reserves as hereinafter provided.

• To the extent permitted by law, SMUD hereby covenants to establish, maintain and collect rates and charges with respect to the Electric System sufficient to pay the Parity Bonds, Parity Subordinated Debt, Parity Notes, Parity Notes Reimbursement Agreements, the Notes and all Obligations due and owing hereunder.

• The Note Resolution creates a pledge of the Available Revenues as security for the punctual payment of the interest and principal due with respect to the Notes, the Parity Notes, the Obligations owed to the Bank hereunder and all Parity Notes Reimbursement Agreements.

• SMUD shall not take any action that would result in the Obligations not ranking at least pari passu in right of payment from Available Revenues with the Notes, Parity Notes and Parity Notes Reimbursement Agreements.

More Definitions of Parity Notes

Parity Notes means all Parity Notes issued by the City from time to time pursuant to Section 7.3.

Parity Notes means any class or series of Emera indebtedness currently outstanding or hereafter created which ranks on a parity with the Notes (prior to any Automatic Conversion (as defined below)) as to distributions upon liquidation, dissolution or winding-up.

Parity Notes means any obligations of:

Parity Notes means any class or series of Company indebtedness currently outstanding or hereafter created that ranks on a parity with the Notes as to distributions upon liquidation, dissolution or winding-up;

Parity Notes means $13.0 million in aggregate principal amount of the Company's 101/8% Series A Senior Subordinated Notes due 2008, issued under the Indenture.

Parity Notes means commercial paper notes or other obligations payable from or secured by Available Transportation System Revenues on a subordinate basis to the lien on Transportation System Revenues securing the Senior Lien Revenue Bonds.

Parity Notes means Plant Fund Capital Loan Notes payable solely from the Plant Fund Tax and Voted Tax Fund on an equal basis with the Notes herein authorized to be issued and the Prior Notes;