Second Lien Qualified Obligations Account definition

Second Lien Qualified Obligations Account means the account by that name within the Electric System Surplus Revenue Fund established pursuant to Section 3.07 hereof.
Sample 1
Second Lien Qualified Obligations Account means the account by that name within the Water System Surplus Revenue Fund maintained pursuant to Section 3.7 hereof.
Sample 1

Examples of Second Lien Qualified Obligations Account in a sentence

  • 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 Second Lien Qualified Obligations Account, heretofore created under the 2004 Resolution, so long as any Qualified Obligations remain Outstanding; provided, however, that if 2016 Bonds are the only Qualified Obligations Outstanding, such account shall be closed on the earlier of (i) the Crossover Date and (ii) the date that no 2016 Bonds or obligations payable from such account remain outstanding.

  • 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; provided, however, that if 2015-A Bonds are the only Qualified Obligations and Second Lien Qualified Obligations Outstanding, such account shall be closed on the earlier of (i) the Crossover Date and (ii) the date that no 2015-A Bonds or obligations payable from such account remain outstanding.

  • The Treasurer shall continue to maintain the Second Lien Qualified Obligations Account, heretofore created under the 2004 Resolution, so long as any Qualified Obligations remain Outstanding; provided, however, that if 2020 Bonds are the only Qualified Obligations Outstanding, such account shall be closed on the earlier of (i) the Crossover Date and (ii) the date that no 2020 Bonds or obligations payable from such account remain outstanding.

  • The Treasurer shall continue to maintain the Second Lien Qualified Obligations Account, heretofore created under the 2004 Resolution, so long as any Qualified Obligations remain Outstanding; provided, however, that if 2014-A Bonds are the only Qualified Obligations Outstanding, such account shall be closed on the earlier of (i) the Crossover Date and (ii) the date that no 2014-A Bonds or obligations payable from such account remain outstanding.

  • 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 Treasurer shall continue to maintain the Second Lien Qualified Obligations Account, heretofore created under the 2004 Resolution, so long as any Qualified Obligations remain Outstanding; provided, however, that if 2024-A Bonds are the only Qualified Obligations Outstanding, such account shall be closed on the date that no 2024-A Bonds remain Outstanding and no obligations payable from such account remain outstanding.

  • Until the Crossover Date, 2015-A Purchase Payments (Second Lien Qualified Obligations) and all other payments with respect to Second Lien Qualified Obligations shall be equally secured by the Surplus Revenues in the Second Lien Qualified Obligations Account without priority for number or date of delivery of such Second Lien Qualified Obligations.

  • 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.

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Related to Second Lien Qualified Obligations Account

  • Initial Additional First Lien Obligations means the [Obligations] as such term is defined in the Initial Additional First-Lien Security Agreement.

  • Guarantor Subordinated Obligations means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) that is expressly subordinated in right of payment to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement.

  • Guarantor Subordinated Obligation means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) which is expressly subordinate in right of payment to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement.

  • Specified Obligations means Obligations consisting of the principal and interest on Loans, reimbursement obligations in respect of LC Disbursements and fees.

  • Refunded Obligations means, collectively, the Refunded Notes, if any, and the Refunded Bonds, if any, refunded by each Series.

  • Additional First Lien Obligations means all amounts owing to any Additional First-Lien Secured Party (including the Initial Additional First-Lien Secured Parties) pursuant to the terms of any Additional First-Lien Document (including the Initial Additional First-Lien Documents), including, without limitation, all amounts in respect of any principal, premium, interest (including any interest accruing subsequent to the commencement of a Bankruptcy Case at the rate provided for in the respective Additional First-Lien Document, whether or not such interest is an allowed claim under any such proceeding or under applicable state, federal or foreign law), penalties, fees, expenses, indemnifications, reimbursements, damages and other liabilities, and guarantees of the foregoing amounts.

  • Discharge of Second Lien Obligations means the occurrence of all of the following:

  • Additional Second Lien Obligations means, with respect to any Grantor, any obligations of such Grantor owed to any Additional Second Lien Secured Party (or any of its Affiliates) in respect of the Additional Second Lien Documents.

  • Discharge of Credit Agreement Obligations means, with respect to any Shared Collateral, the Discharge of the Credit Agreement Obligations with respect to such Shared Collateral; provided that the Discharge of Credit Agreement Obligations shall not be deemed to have occurred in connection with a Refinancing of such Credit Agreement Obligations with an Additional Senior Debt Facility secured by such Shared Collateral under one or more Additional Senior Debt Documents which has been designated in writing by the Administrative Agent (under the Credit Agreement so Refinanced) to the Designated Senior Representative as the “Credit Agreement” for purposes of this Agreement.

  • Excluded Obligations has the meaning set forth in Section 2.5.

  • DIP Obligations means “DIP Obligations” as defined in the DIP Order.

  • Second Lien Obligations means the “Obligations” as defined in the Second Lien Credit Agreement.

  • Secured Longer-Term Indebtedness means, as at any date, Indebtedness for borrowed money (other than Indebtedness hereunder) of the Borrower (which may be Guaranteed by Subsidiary Guarantors) that (a) has no amortization (other than for amortization in an amount not greater than 1% of the aggregate initial principal amount of such Indebtedness per annum (or an amount in excess of 1% of the aggregate initial principal amount of such Indebtedness per annum on terms mutually agreeable to the Borrower and the Required Lenders)) or mandatory redemption, repurchase or prepayment prior to, and a final maturity date not earlier than, six months after the Maturity Date; (b) is incurred pursuant to documentation containing (i) financial covenants, covenants governing the borrowing base, if any, covenants regarding portfolio valuations, and events of default that are no more restrictive in any respect than those set forth in this Agreement (other than, if such Indebtedness is governed by a customary indenture or similar instrument, events of default that are customary in indentures or similar instruments and that have no analogous provisions in this Agreement or credit agreements generally) (provided that, upon the Borrower’s request, this Agreement will be deemed to be automatically amended (and, upon the request of the Administrative Agent or the Required Lenders, the Borrower and the Lenders shall enter into a document evidencing such amendment), mutatis mutandis, to make such covenants more restrictive in this Agreement as may be necessary to meet the requirements of this clause (b)(i)) and (ii) other terms (other than interest and any commitment or related fees) that are no more restrictive in any material respect than those set forth in this Agreement; and (c) ranks pari passu with the obligations under this Agreement and is not secured by any assets of any Person other than any assets of any Obligor pursuant to the Security Documents and the holders of which, or the agent, trustee or representative of such holders on behalf of and for the benefit of such holders, have agreed to be bound by the provisions of the Security Documents in a manner reasonably satisfactory to the Administrative Agent and the Collateral Agent. For the avoidance of doubt, (a) Secured Longer-Term Indebtedness shall also include any refinancing, refunding, renewal or extension of any Secured Longer-Term Indebtedness so long as such refinanced, refunded, renewed or extended Indebtedness continues to satisfy the requirements of this definition and (b) any payment on account of Secured Longer-Term Indebtedness shall be subject to Section 6.12.

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.8(e) of the Sale and Servicing Agreement.]

  • Credit Facility Obligations means all “Obligations” (or any other defined term having a similar purpose) as defined in the Credit Agreement.

  • Sukuk Obligation means any undertaking or other obligation to pay any money given in connection with any issue of trust certificates or other securities intended to be issued in compliance with the principles of Shari’a, whether or not in return for consideration of any kind;

  • Secured Recourse Indebtedness means all Indebtedness (including Guaranties of Secured Indebtedness) that is Secured Indebtedness and is not Nonrecourse Indebtedness.

  • U.S. Obligations means non-redeemable securities evidencing an obligation to timely pay principal and/or interest in a full and timely manner that are direct obligations of the United States of America for the payment of which its full faith and credit is pledged.

  • Loan Obligations means (a) the due and punctual payment by the Borrower of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans made to the Borrower under this Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and obligations to provide Cash Collateral and (iii) all other monetary obligations of the Borrower owed under or pursuant to this Agreement and each other Loan Document, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), and (b) the due and punctual payment of all obligations of each other Loan Party under or pursuant to each of the Loan Documents.

  • Facility LC Collateral Account is defined in Section 2.20.11.

  • Credit Improved Obligation means any Collateral Debt Obligation which, in the Investment Manager’s judgment, has significantly improved in credit quality and in respect of which one of the following is satisfied:

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Other Pari Passu Lien Obligations means any Indebtedness or other Obligations (including Hedging Obligations) having Pari Passu Lien Priority relative to the Notes with respect to the Collateral; provided that an authorized representative of the holders of such Indebtedness shall have executed a joinder to the ABL-Notes Intercreditor Agreement and a joinder to the Pari Passu Intercreditor Agreement or the Pari Passu Intercreditor Agreement.

  • Original Obligations means the “Obligations” as defined in the Original Credit Agreement.

  • Class A Cash Collateral Account means an Eligible Deposit Account in the name of the Subordination Agent maintained at an Eligible Institution, which shall be the Subordination Agent if it shall so qualify, into which all amounts drawn under the Class A Liquidity Facility pursuant to Section 3.5(c), 3.5(d), 3.5(i) or 3.5(m) shall be deposited.

  • Additional Obligations as defined in the Base Intercreditor Agreement.