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.

• 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.

• Each Series of Senior Lien Bonds may be made subject to redemption or mandatory or optional tender and purchase prior to their respective stated maturities, as a whole or in part, at such time or times, upon such terms and conditions and upon such notice and with such effect as may be provided in the Supplemental Indenture establishing the terms and provisions of such Series of Senior Lien Bonds.

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

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 2002 Bonds, “Senior Lien Bonds” means all 2002 Bonds.

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

Senior Lien Bonds means the Outstanding Water System Revenue Bonds, Series 1988 Refunding, dated October 1, 1988, Water System Revenue Bonds, Series 1989, dated November 1, 1989, Water System Revenue Bonds, Series 1990, dated June 1, 1990, Water System Revenue Bonds, Series 1991, dated March 15, 1991, Water System Revenue Bonds, Series 1992A, dated July 15, 1992, Water System Revenue Bonds, Series 1992B, dated July 15, 1992 and Water System Revenue Bonds, Series 1992C, dated September 15, 1992 and any and all other Bonds issued from time to time and designated by the Supplemental Resolution authorizing the issuance thereof as Senior Lien Bonds.

Senior Lien Bonds means the Series 2019 Bonds, while they remain outstanding, and any Additional Bonds.