Prior Lien Bonds definition

Prior Lien Bonds means any and all bonds or other obligations of the City presently outstanding or that may be hereafter issued, payable from and secured by a first lien on and pledge of the Net Revenues or by a lien on and pledge of the Net Revenues subordinate to a first lien and pledge of such Net Revenues but superior to the lien and pledge of the Surplus Revenues made for the Certificates.

Prior Lien Bonds means any indebtedness secured by liens either (i) existing both at and immediately prior to the acquisition of the property by the Company, or (ii) created as purchase money mortgages at the time the Company acquires the property, and in each case ranking prior to, or on a parity with, the lien of the Mortgage Indenture. (Mortgage Indenture Sections 1.03(hh) and 1.03(ii).)

Prior Lien Bonds means the previously issued Bonds secured by the Revenues of the System as set forth as Exhibit "D".

Examples of Prior Lien Bonds in a sentence

• As provided in Article V of the General Bond Resolution, the Bonds, equally with the Prior Lien Bonds, shall be secured by a pledge and dedication of the Revenues of the System, subject only to the payment of the reasonable and necessary expenses of operating and maintaining the System.

• The Bonds, when issued, shall constitute Prior Lien Bonds as provided in the General Bond Resolution, as amended.

• The City will not hereafter issue any additional obligations with a lien on and pledge of the Net Revenues on a parity with the lien on and pledge of the Net Revenues associated with the Prior Lien Bonds or create or issue evidences of indebtedness for any purpose possessing a lien on the Net Revenues of the System superior to that to be possessed by the Bonds Similarly Secured.

• Claims incurred in any other policy currency will be converted using the spot rates prevailing at the time we assess the claim.

• In addition, the Cities are obligated to guarantee the payment of TMPA’s Prior Lien Bonds (the “Debt Service Guarantee”).

More Definitions of Prior Lien Bonds

Prior Lien Bonds means the previously issued Bonds secured by the Revenues of the System, as defined in the General Bond Ordinance, as set forth as Exhibit "D."

Prior Lien Bonds means, to the extent outstanding the County’s outstanding High School Bonds, Series, 2001(B), dated March 19, 2001, any unrefunded Outstanding Bonds, Rural School Refunding Bonds, Series 2013, dated January 25, 2013, and High School Refunding Bonds, Series 2015, dated May 8, 2015;

Prior Lien Bonds means, collectively, the Senior Lien Bonds, the Second Senior Lien Bonds and the Subordinate Lien Bonds.

Prior Lien Bonds means the outstanding revenue bonds of those issues or series identified as follows: (i) $18,935,000 original principal amount of “City of Garland, Texas, Electric Utility System Revenue Bonds, Series 2005,” dated March 15, 2005, (ii) $25,045,000 original principal amount of “City of Garland, Texas, Electric Utility System Revenue Bonds, Series 2006,” dated March 15, 2006, (iii) $21,050,000 original principal amount of “City of Garland, Texas, Electric Utility System Revenue Bonds, Series 2007,” dated March 15, 2007,

Prior Lien Bonds means the Town’s Water and Sewer Revenue and Tax Refunding Bonds, Series 2012A, dated December 21, 2012; its Water and Sewer Revenue and Tax Bond, Series 2020, dated February 20, 2024; and any other debt obligation secured by revenues of the System and issued prior to the date of the Bonds.

Prior Lien Bonds means the following bonds previously issued by the Corporation: (i) the

Prior Lien Bonds means any indebtedness (including the evidences thereof), if any, secured by a Prior Lien.