Pledged Tax definition

Pledged Tax means the Proposition C Sales Tax (i) less the administrative fee deducted by the Board of Equalization, (ii) less the Local Allocation and Tax, (c) plus such portion, if any, of the Local Allocation as any jurisdiction entitled to such amount has authorized to be pledged to secure the Bonds in accordance with the Trust Agreement.
Pledged Tax has the meaning set forth in Article I of the [Subordinate] [Senior Lien] Trust Agreement.
Pledged Tax means the Proposition A Sales Tax (a) less the Local Allocation; (b) plus such amounts, if any, of the Local Allocation as any city entitled to such amount has authorized to be pledged to secure the First Tier Senior Lien Bonds. The portion of the Local Allocation to be included as Pledged Tax under clause (b) will not be included until a certified copy of the city’s ordinance, resolution or other official action authorizing the pledge and setting forth in terms of such pledge has been filed with the Trustee and certain legal opinions with respect thereto have also been filed with the Trustee.

Examples of Pledged Tax in a sentence

  • The Bonds are special obligations of the Successor Agency and this Bond and the interest hereon and on all other Bonds and the interest thereon (to the extent set forth in the Indenture), are payable from, and are secured by a pledge of, security interest in and lien on the Pledged Tax Revenues derived by the Successor Agency from the Project Areas.

  • If there shall then not be sufficient Pledged Tax Revenues to transfer an amount sufficient to maintain the Reserve Requirement on deposit in the Reserve Account, the Successor Agency shall be obligated to continue making transfers as Pledged Tax Revenues become available until there is an amount sufficient to maintain the Reserve Requirement on deposit in the Reserve Account.

  • The bonds are payable from and secured by incremental tax revenues (Pledged Tax Revenues).

  • The Pledged Tax Revenues are hereby irrevocably and irrepealably pledged and dedicated in an amount sufficient for payment of the Bonds in principal, premium, if any, and interest as they shall become due and payable, and for other purposes hereinafter set forth in this Bond Resolution.

  • The Bonds shall be secured by and payable in principal, premium, if any, and interest solely from an irrevocable pledge and dedication of the Pledged Tax Revenues.

  • Upon the expiration of any Qualified Reserve Account Credit Instrument, the Administrator shall either (i) replace such Qualified Reserve Account Credit Instrument with a new Qualified Reserve Account Credit Instrument, or (ii) deposit or cause to be deposited with the Trustee an amount of funds equal to the Reserve Requirement, to be derived from the first legally available Pledged Tax Revenues.

  • In the event the Pledged Tax Increments are not sufficient to pay the accrued interest, the unpaid accrued interest shall be carried forward without interest.

  • On each Payment Date the Pledged Tax Increment shall be credited against the accrued interest then due on the TIF Note and then applied to reduce the principal.

  • Except for the Pledged Tax Revenues and such moneys, no funds or properties of the Successor Agency shall be pledged to, or otherwise liable for, the payment of principal of or interest or redemption premium (if any) on the Bonds.

  • The bonds are special obligations of the Agency and are payable exclusively from Pledged Tax Revenues.


More Definitions of Pledged Tax

Pledged Tax means the net collections of one-half cent of seven-eighths of one percent (0.875%) citywide local sales and use tax approved initially by the electors of the City at an election held on November 6, 2018 pursuant to Ordinance No. 18-782 of the City adopted on August 6, 2018.

Related to Pledged Tax

  • Pledged Amount With respect to any Pledged Asset Loan, the amount of money remitted to Combined Collateral LLC, at the direction of or for the benefit of the related Mortgagor.

  • Pledged Items means, as of any date, any and all securities and instruments delivered by the Pledgor to be held by the Collateral Agent under this Collateral Agreement as Collateral, whether Eligible Collateral or Ineligible Collateral.

  • Pledged Equity Interest means an Equity Interest that is included in the Collateral at such time.

  • Pledged Equity has the meaning specified in the Security Agreement.

  • Pledged Subsidiary means each Subsidiary in respect of which the Administrative Agent has been granted a security interest in or a pledge of (a) any of the Capital Securities of such Subsidiary or (b) any intercompany notes of such Subsidiary owing to the Borrower or another Subsidiary.

  • Pledged Entity means an issuer of Pledged Shares or Pledged Indebtedness.

  • Pledged Notes all promissory notes listed on Schedule 2, all Intercompany Notes at any time issued to any Grantor and all other promissory notes issued to or held by any Grantor (other than promissory notes issued in connection with extensions of trade credit by any Grantor in the ordinary course of business).

  • Pledged Funds means all of the Series Pledged Funds.

  • Pledged Interests shall have the meaning ascribed to such term in Section 4(j).

  • Pledged revenue means money pledged to the payment of or as security for:

  • Pledged Shares has the meaning provided in Section 2 hereof.

  • Pledged Trust Interests means all interests in a Delaware business trust or other trust including, without limitation, all trust interests listed on Schedule 4.4(A) under the heading “Pledged Trust Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any, representing such trust interests and any interest of such Grantor on the books and records of such trust or on the books and records of any securities intermediary pertaining to such interest and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such trust interests.

  • Pledged Asset Loan Any Mortgage Loan supported by Pledged Assets or such other collateral, other than the related Mortgaged Property, set forth in the Series Supplement.

  • Pledged Property means all Pledged Shares, all Pledged Notes, and all other pledged shares of Capital Stock or promissory notes, all other securities, all assignments of any amounts due or to become due, all other instruments which are now being delivered by the Pledgor to the Administrative Agent or may from time to time hereafter be delivered by the Pledgor to the Administrative Agent for the purpose of pledge under this Pledge Agreement or any other Loan Document, and all proceeds of any of the foregoing.

  • Pledged Stock has the meaning assigned to such term in Section 3.01.

  • Pledged Assets With respect to any Mortgage Loan, all money, securities, security entitlements, accounts, general intangibles, payment intangibles, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description pledged by Combined Collateral LLC as security in respect of any Realized Losses in connection with such Mortgage Loan up to the Pledged Amount for such Mortgage Loan, and any related collateral, or such other collateral as may be set forth in the Series Supplement.

  • Pledged Revenues means all of the Series Pledged Revenues.

  • Pledged Indebtedness means the Indebtedness evidenced by promissory notes and instruments listed on Schedule I hereto.

  • Pledged Equity Interests means all Pledged Stock, Pledged LLC Interests, Pledged Partnership Interests, Pledged Trust Interests and Pledged Alternative Equity Interests.

  • Pledged or Controlled Collateral has the meaning assigned to such term in Section 5.05(a).

  • Pledgor shall have the meaning assigned to such term in the Preamble hereof.

  • Pledged Deposits means all time deposits of money (other than Deposit Accounts and Instruments), whether or not evidenced by certificates, which a Grantor may from time to time designate as pledged to the Administrative Agent or to any Secured Party as security for any Secured Obligations, and all rights to receive interest on said deposits.

  • Pledged Bonds means the related series of Bonds and any other Mortgage Bonds issued to secure Securities subject to the release provisions provided herein or in any other supplemental indenture to the Original Indenture.

  • Pledged Account has the meaning set forth in the Deposit and Security Agreement.

  • relevant property means property of a kind affected by the transfer order, whether it is an estate or interest in land or any other property.

  • Grantor means each and all of the persons or entities granting a Security Interest in any Collateral for the Loan, including without limitation all Borrowers granting such a Security Interest.