Senior Lien Parity Bonds definition

Senior Lien Parity Bonds means any additional pari passu indebtedness hereafter issued by the City pursuant to Section 2.06 of this General Bond Ordinance and a Series
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Senior Lien Parity Bonds means all bonds or obligations of the Regents now outstanding or hereafter issued or outstanding payable from and constituting a first lien on the Pledged Revenues on a parity with the outstanding the Series 2013A Bonds, the Series 2013B Bonds, the Series 2017A Bonds, the Series 2017B Bonds, the Series 2017C Bonds, the Series 2019A Bonds, the Series 2019B Bonds, and the Series 2022 Bonds.
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Senior Lien Parity Bonds means the Series 2014 Bonds, together with any Additional Senior Lien Parity Bonds.
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Examples of Senior Lien Parity Bonds in a sentence

  • All documents required by the provisions of the Loan Documents to be executed or delivered to the Bank on or before the applicable Borrowing Date shall have been executed and shall have been delivered at the office of the Bank set forth in Section 10.2 on or before such Borrowing Date.

  • Junior Lien Parity Bonds may be issued for the same purposes as Senior Lien Parity Bonds, and/or for other lawful purposes related to the System as may be approved by the Governing Authority and stated in the applicable Series Ordinance, including the payment of working capital expenses.

  • No payment need be made into the Senior Lien Debt Service Account if the amount on deposit in the Interest and Retirement Fund totals a sum at least equal to the entire amount of principal and interest due and to become due on the Outstanding Senior Lien Parity Bonds to their respective maturities, both accrued and not accrued.

  • Nothing in the Bond Resolution shall be construed in such a manner as to prevent the issuance by the Regents of Additional Senior Lien Parity Bonds for the purpose of extending, enlarging, expanding, bettering or otherwise improving the System, payable from the Pledged Revenues and constituting a lien upon the Pledged Revenues on a parity with, but not prior or superior to, the lien of the Bonds, nor to prevent the issuance of bonds or other obligations refunding all or a part of the Bonds.

  • After and subject to the payments required by subparagraph (A) for the outstanding Senior Lien Parity Bonds, Pledged Revenues shall be deposited into the Subordinate Lien Debt Service Account and any Reserve Accounts, if any, for the outstanding Subordinate Lien Bonds.

  • So long as any of the Senior Lien Parity Bonds or the Subordinate Lien Parity Bonds are outstanding, either as to principal or interest, or both, the Regents shall cause the Pledged Revenues to be collected and deposited as received on a regular basis in the Revenue Fund and to make the payments from the Revenue Fund into the Interest and Retirement Fund, the Renewal and Replacement Fund and as otherwise required or permitted by Section 14 of the Bond Resolution.

  • While any Senior Lien Parity Bonds are outstanding, Pledged Revenues shall first be transferred from the Revenue Fund into the Senior Lien Debt Service Account as provided below.

  • The owners of the Bonds and other Senior Lien Parity Bonds from time to time outstanding shall not be entitled to any priority one over the other in the application of the Pledged Revenues, regardless of the time or times of their issuance.

  • The Senior Reserve Accounts shall constitute trust funds which shall be held in trust for only the Owners of such particular Series of Senior Lien Parity Bonds to which they are pledged.

  • All of the Bonds, together with the interest accruing thereon, shall be special, limited obligations of the Regents and shall be payable and collectible solely from the Pledged Revenues as Senior Lien Parity Bonds, which income is irrevocably so pledged.


More Definitions of Senior Lien Parity Bonds

Senior Lien Parity Bonds means any additional pari passu indebtedness hereafter issued by the City pursuant to Section 2.06 of this General Bond Ordinance and a Series Ordinance, and secured by a senior lien on the Net Revenues. Senior Lien Parity Bonds may be in the form of bonds, notes, certificates, loan agreements or other written obligations for the repayment of borrowed money.
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Related to Senior Lien Parity Bonds

  • Junior Lien Priority means Indebtedness that is secured by a Lien on the Collateral that is junior in priority to the Liens on the Collateral securing the Obligations under the Notes and is subject to an intercreditor agreement (it being understood that junior Liens are not required to rank equally and ratably with other junior Liens, and that Indebtedness secured by junior Liens may be secured by Liens that are senior in priority to, or rank equally and ratably with, or junior in priority to, other Liens constituting junior Liens).

  • Parity Bonds means bonds payable from the revenues of the System other than the Bonds but issued on a parity and equality with the Bonds pursuant to the restrictive provisions of Section 11 of this Resolution;

  • Senior Lien Obligations means all revenue bonds and other obligations of the RECIPIENT outstanding on the date of execution of this loan agreement (or subsequently issued on a parity therewith, including refunding obligations) or issued after the date of execution of this loan agreement having a claim or lien on the Gross Revenue of the Utility prior and superior to the claim or lien of the loan, subject only to Maintenance and Operation Expense.

  • Pari Passu Lien Priority means, relative to specified Indebtedness, having equal Lien priority on specified Collateral and either subject to the Intercreditor Agreement on a substantially identical basis as the holders of such specified Indebtedness or subject to intercreditor agreements providing holders of the Indebtedness intended to have Pari Passu Lien Priority with substantially the same rights and obligations that the holders of such specified Indebtedness have pursuant to the Intercreditor Agreement as to the specified Collateral.

  • Senior Lien means the Liens on the Senior Collateral in favor of the Senior Secured Parties under the Senior Collateral Documents.

  • Junior Lien Indebtedness means any Indebtedness of any Credit Party that is secured by Liens on Collateral that rank junior in priority to the Liens that secure the Obligations.

  • Senior Priority Obligations as defined in the Base Intercreditor Agreement.

  • Outstanding Parity Bonds means the Outstanding Series 2010B Bonds, Series 2011A Bonds, Series 2012A Bonds, Series 2014 Bonds, Series 2015 Bonds, Series 2016 Bonds, Series 2017 Bonds, and Series 2019A Bonds.

  • Senior Secured Credit Facility means the Loan and Security Agreement, dated as of May 31, 2017 by and among the Company and Western Alliance Bank (as amended, amended and restated, supplemented or otherwise modified from time to time, subject to the limitations herein).

  • Junior Priority Obligations means the Initial Junior Priority Obligations and any Additional Obligations constituting Junior Priority Debt.

  • Senior Collateral Documents means the Security Agreement and the other “Collateral Documents” as defined in the Credit Agreement, the First Lien Intercreditor Agreement (upon and after the initial execution and delivery thereof by the initial parties thereto) and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any other Grantor for purposes of providing collateral security for any Senior Obligation.

  • Second Lien Indenture has the meaning set forth in the recitals.

  • Senior Secured Credit Facilities means the amended and restated senior secured credit facilities dated November 30, 2016 among Studio City Company Limited, the guarantors named therein, the financial institutions named as lenders therein and the agent for such lenders, including any related notes, guarantees, collateral documents, instruments and agreements executed in connection therewith, as such facilities may be amended, restated, modified, renewed, supplemented, replaced or refinanced from time to time.

  • Junior Lien Intercreditor Agreement means an intercreditor agreement in form and substance reasonably satisfactory to the Administrative Agent between the Administrative Agent and one or more collateral agents or representatives for the holders of Indebtedness that is secured by a Lien on the Collateral ranking junior to the Liens of the Loan Documents.

  • Lien Priority means with respect to any Lien of the ABL Secured Parties or the Term Secured Parties in the Collateral, the order of priority of such Lien as specified in Section 2.1.

  • Junior Lien Debt means Indebtedness incurred by a Covenant Entity that is secured by a Lien that is junior to the Lien on the Collateral securing the Obligations.

  • Junior Lien Obligations means Junior Lien Debt and all other Obligations in respect thereof.

  • Parity Lien Obligations means Parity Lien Debt and all other Obligations in respect thereof.

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

  • Senior Collateral Agent means Citicorp USA, Inc., in its capacity as Senior Collateral Agent under the Senior Collateral Documents, and its successors.

  • Refinancing Series means all Refinancing Term Loans or Refinancing Term Commitments that are established pursuant to the same Refinancing Amendment (or any subsequent Refinancing Amendment to the extent such Refinancing Amendment expressly provides that the Refinancing Term Loans or Refinancing Term Commitments provided for therein are intended to be a part of any previously established Refinancing Series) and that provide for the same Effective Yield and amortization schedule.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Guarantee Priority of Payments means the priority of payments relating to moneys received by the Cash Manager for and on behalf of the Guarantor and moneys standing to the credit of the Guarantor Accounts, to be paid on each Guarantor Payment Date in accordance with the Guarantor Agreement.

  • First Lien/Second Lien Intercreditor Agreement means an intercreditor agreement substantially in the form of Exhibit H hereto, or such other customary form reasonably acceptable to the Administrative Agent and the Borrower, in each case, as such document may be amended, restated, supplemented or otherwise modified from time to time.

  • Senior Liens means (a) with respect to the ABL Priority Collateral, all Liens securing the ABL Obligations and (b) with respect to the Term Loan Priority Collateral, all Liens securing the Term Loan Obligations.

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