Parity Obligations definition

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.

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Parity Obligations means the Parity Obligations of the Guarantor and the Parity Obligations of the Issuer;

Parity Obligations means any Additional Obligations hereafter issued or incurred pursuant to the Bond Resolution and standing on a parity and equality with the Parity Bonds with respect to the lien on the Net Revenues.

Examples of Parity Obligations in a sentence

• The City will not sell or otherwise dispose of the System or any part thereof essential to the proper operation of the System or that would have a Material Adverse Change on the Pledged Revenues received or receivable by the City, unless the Installment Payments and the Parity Obligations have been fully paid or provision has been made therefor.

• Payment of the Installment Payments and the principal of and interest on Parity Obligations shall be made without preference or priority.

• The Installment Payments and all other Parity Obligations (if any) shall be equally secured by a pledge, charge and lien upon the Pledged Revenues and such other moneys without priority for series, issue, number or date and the payment of the interest on and principal of the Installment Payments shall be and are secured by an exclusive pledge, charge and lien upon the Pledged Revenues and such other moneys.

• If the amount of Net Sales Tax Override Revenues on deposit in the Sales Tax Override Fund are any time insufficient to enable the City to pay when due the Installment Payments, the principal of and interest on Parity Obligations, and amounts required to replenish any reserve fund established for Parity Obligations, such payments will be made on a pro rata basis.

• As of the date of this Installment Purchase Agreement, there are no Parity Obligations.

More Definitions of Parity Obligations

Parity Obligations means (if any) (i) the most junior class of preference share capital in the Issuer ranking ahead of the ordinary shares in the capital of the Issuer and any other obligations of the Issuer, issued directly or indirectly by it, which rank, or are expressed to rank, pari passu with the Securities or such preference shares and

Parity Obligations means any obligations of the Governmental Unit under the Loan Agreement and any other obligations now outstanding or hereafter issued or incurred, payable from or secured by a pledge of the Pledged Revenues and issued with a lien on the Pledged Revenues on a parity with the Loan Agreement, including any such obligations shown on the Term Sheet.

Parity Obligations means in respect of any Relevant Series:

Parity Obligations means notes or bonds payable solely from the Net Revenues of the System on an equal basis with the Notes herein authorized to be issued and shall include Additional Obligations as authorized to be issued under the terms of this Resolution and the Outstanding Obligations.

Parity Obligations means Liquidation Parity Obligations and Preferred Dividend Parity Obligations;

Parity Obligations means this Loan Agreement, and any other obligations, now outstanding or hereafter issued or incurred, payable from or secured by a lien or pledge of the Pledged Revenues and issued with a lien on the Pledged Revenues on a parity with this Loan Agreement, including any such obligations shown on the Term Sheet.

Parity Obligations means (a) the obligations of the Issuer in respect of any other Series of Subordinated Notes issued under the Trust Deed and (b) any other obligations of the Issuer which rank or expressed to rank pari passu with the Subordinated Notes;