Examples of Prior Bond Resolutions in a sentence
All obligations, rights and remedies of the Trust or the Master Trustee under the Master Trust Agreement or any Supplemental Trust Agreement as it relates to Prior Loans or agreements related to Prior Loans, including receipt of Revenues after an Event of Default or exercise of remedies, is expressly subject and subordinate to the obligations, rights and remedies of the Trust and the prior bond trustees under the Prior Bond Resolutions, and the Program Trustee under the Program Resolution.
Notwithstanding anything to the contrary in this Section 5.1, the pledge of any Revenues and right, title and interest in Loans and Financial Agreements related to Prior Loans is expressly subject and subordinate to the prior pledge and lien granted by the Trust for the benefit of the Owners of the applicable Prior Bonds under the applicable Prior Bond Resolutions, including without limitation the Owners of applicable Refunding Prior Bonds.
The provisions of the Prior Bond Resolutions and the provisions of this Resolution are to be construed wherever possible so that the same will not be in conflict.
The Escrow Agent is hereby directed to establish an escrow fund (the “Escrow Fund”) to be held by the Escrow Agent as an irrevocable escrow securing the payment and redemption of the Refunded Bonds in accordance with the provisions of the Prior Bond Resolutions.
The provisions in the Prior Bond Resolutions whereby there were created and maintained the QSCB 2010A Sinking Fund Subaccount for the payment into said fund from the School Infrastructure Tax Revenues, amounts sufficient to pay the principal of and interest on the outstanding QSCB Bonds is hereby ratified and confirmed, and all such provisions inure to and constitute the security for the payment of principal and interest on the outstanding QSCB Bonds.