Qualified Obligations Account definition

Qualified Obligations Account means the account by that name established within the Electric System Surplus Revenue Fund by Resolution No. 76R-276 of the City Council.
Sample 1Sample 2Sample 3
Qualified Obligations Account means the account by that name described in Section 3.3 hereof.
Sample 1

Examples of Qualified Obligations Account in a sentence

  • The City is obligated to make 2024-A Purchase Payments and Second Lien Other Bank Obligations solely from the Net Surplus Revenues and any moneys deposited in the Second Lien Qualified Obligations Account.

  • The City shall make deposits to and payments from the Qualified Obligations Account in accordance with the terms of this Installment Purchase Agreement.

  • The 2024-A Purchase Payments and all other payments with respect to Second Lien Qualified Obligations and Second Lien Other Bank Obligations shall be equally secured by the Net Surplus Revenues in the Second Lien Qualified Obligations Account without priority for number or date of incurrence of such Second Lien Qualified Obligations and Second Lien Other Bank Obligations.

  • The City shall cause the Treasurer to establish and maintain a new account within the Water System Surplus Revenue Fund, which shall be designated as the “Second Lien Qualified Obligations Account.” The City shall make deposits to and payments from the Second Lien Qualified Obligations Account in accordance with the terms of this Installment Purchase Agreement.

  • The City has not issued, incurred, assumed or guaranteed any Debt which is outstanding and is both (i) payable from Net Surplus Revenues in the Second Lien Qualified Obligations Account of the Water System Surplus Revenue Fund, and (ii) senior, as to the priority of payment or security, to the Qualified Obligations.

  • The Treasurer shall continue to maintain the Qualified Obligations Account, heretofore created under Ordinance No. 5376 of the City Council, so long as any Qualified Obligations remain Outstanding.

  • The Net Surplus Revenues in the Second Lien Qualified Obligations Account shall be held in trust by the Treasurer of the City for the benefit of the holders of the 2024-A Bonds and any other Second Lien Qualified Obligations and the bank or financial institution to which Second Lien Other Bank Obligations are payable.