Senior Lien Bonds definition

Senior Lien Bonds means any indebtedness which is payable from the Tax Increment Revenues of the Area and which is outstanding on the date each Bond is issued.

Senior Lien Bonds means the Outstanding Bonds and any additional bonds issued pursuant to the Prior Ordinances that are of equal standing and priority of lien with the Outstanding Bonds.

Senior Lien Bonds means the Bonds and does not include the Junior Lien Bonds and Junior Lien Notes.

Examples of Senior Lien Bonds in a sentence

• The pledge of and lien on the System Pledged Revenues created by the Junior Lien Trust Agreement is subordinate to the pledge of and lien on the System Pledged Revenues created by the Senior Lien Trust Agreement to secure Senior Lien Bonds, all as defined in the Junior Lien Master Trust Agreement.

• Pursuant to the 2013 Toll Road Revenue Refunding Bonds Master Indenture of Trust, the 91 Express Lanes Fund will covenant to fix and prescribe toll rates for each type of vehicle and each time of day sufficient to produce adjusted net toll revenues for each fiscal year at least equal to 1.3 times annual debt service on Senior Lien Bonds and Parity Obligations and at least equal to 1.0 times annual debt service on all bonds.

• Unless otherwise provided in any Supplemental Indenture, the Senior Lien Bonds shall then be delivered to the Trustee for authentication by the Trustee.

• Funds securing a Series of Senior Lien Bonds or a Senior Lien Obligation, or multiple Series of Senior Lien Bonds and/or Senior Lien Obligations, may be established and held by the Trustee as provided in a Supplemental Indenture or Indentures.

• Except as hereinafter provided, the moneys credited to the Bond Reserve Account shall be used solely for the payment of the principal of, redemption premiums (if any) and interest on the Senior Lien Bonds as to which there would otherwise be a default.

More Definitions of Senior Lien Bonds

Senior Lien Bonds means any bonds hereafter issued that are of superior standing and priority of lien with respect to the Bonds and the Outstanding Junior Lien Bonds.

Senior Lien Bonds means the Outstanding Senior Lien Bonds, which have a statutory first lien on the Net Revenues, and any additional bonds of equal standing with the Outstanding Senior Lien Bonds hereafter issued.

Senior Lien Bonds means any Bonds so designated in the applicable Series Resolution authorizing such Senior Lien Bonds. With respect to the 2006 Bonds, “Senior Lien Bonds” means all 2006 Bonds.

Senior Lien Bonds means, as to any Bonds, Prior Bonds or Additional Bonds, a Bond, Prior Bond or Additional Bond secured on a senior lien basis by all or a portion of the Pledged Revenues.

Senior Lien Bonds means any Bonds or series of Bonds so designated and payable from Net Revenues, which are secured by a statutory first lien on the Net Revenues established by the Prior Resolutions and which are senior and superior in all respects to any Junior Lien Bonds secured by the statutory second lien established by this resolution, including the outstanding portion of the Utility System Revenue Refunding Bonds, Series 2013A, the Utility System Revenue Refunding Bonds, Series 2017A, the Utility System Revenue Bonds, Series 2019A, the Utility System Revenue Refunding Bonds, Series 2019B, Utility System Revenue Bonds, Series 2021A, and the Utility System Revenue Bonds, Series 2021B, and any Additional Bonds of equal standing hereafter issued.

Senior Lien Bonds means, collectively, the Outstanding Senior Lien Bonds and any Senior Lien Parity Bonds.

Senior Lien Bonds means bonds and other obligations that qualify as “Subordinate Lien Bonds” as that term is defined in Ordinance No. 323.