Subordinate Securities definition

Subordinate Securities means securities of the City pertaining to the Water System secured by and payable from Net Revenues inferior and junior to the pledge thereof to the Bonds and any Parity Securities, to the extent issued in accordance with the terms, conditions and limitations hereof.

Subordinate Securities means any bonds, warrants, notes, securities, leases, contracts or other financial obligations payable from the Net Revenues subordinate and junior to the lien thereon of the Bonds and any Parity Bonds.

Subordinate Securities means securities payable from the Net Pledged Revenues subordinate and junior to the lien thereon of the Bonds and any Parity Bonds.

Examples of Subordinate Securities in a sentence

• Redwood shall initially retain (i) the AAA IO Senior Securities that are not Underwritten AAA IO Senior Securities, (ii) the Subordinate Securities and (iii) the Residual Securities (the “Redwood Retained Securities”) issued by the Issuing Entity.

• Redwood shall initially retain (i) the AAA IO Senior Securities that are not Underwritten AAA IO Senior Securities and (ii) the Subordinate Securities (the “Redwood Retained Securities”) issued by the Issuing Entity.

• To the extent provided in the Pooling and Servicing Agreement, with respect to Realized Losses and interest shortfalls, the Subordinate Securities will be subordinated to the other Classes of Securities and each of the Subordinate Securities will be subordinated to each of the other Subordinate Securities with a lower numerical designation, if any.

• It is the intent of the Issuer and the Noteholders that, for Federal, state and local income and franchise tax purposes, the Notes will evidence indebtedness of the Issuer secured by the Collateral (and the Pledged Subordinate Securities, in the case of the Class B Notes).

• The Senior Notes are not Subordinate Securities and the Subordination Provisions of Section 301(25) of the Base Indenture shall not apply to the Senior Notes.

More Definitions of Subordinate Securities

Subordinate Securities means securities of the City pertaining to the Municipal Utility System and payable from and secured by Net Revenues subordinate and junior to the pledge thereof to the Bond, to the extent issued in accordance with the terms, conditions and limitations hereof.

Subordinate Securities means all securities of the Company which have 2 "piggyback" registration rights subordinate to those of the Registrable Securities as set forth in Section 3.

Subordinate Securities means each series of bonds, notes, certificates of indebtedness or other obligations or evidences of indebtedness permitted to be issued by the Authority pursuant to the Authorizing Acts and unsecured or secured in whole or in part by liens on the Net Revenues and Pledged Funds that are junior and subordinate to the lien on Net Revenues and Pledged Funds securing payment of Parity Obligations and Second Lien Parity Obligations (as defined in the Second Lien Master Indenture).

Subordinate Securities means bonds or securities of the County pertaining to the Water System which have a lien on the Net Revenues that is subordinate and junior to the lien thereon of the Bonds and any Parity Securities, to the extent issued in accordance with the terms, conditions and limitations hereof.

Subordinate Securities means each series of bonds, notes or other obligations permitted to be issued by the Authority pursuant to Section 5.04 of this Ordinance as Subordinate Securities secured in whole or in part by liens on the Net Revenues that are junior and subordinate to the lien on Net Revenues securing payment of Revenue Bonds.

Subordinate Securities means Securities payable from the Pledged Revenues having a lien thereon subordinate or junior to the lien thereon of the Bonds.

Subordinate Securities means in either case bonds or securities payable from the Pledged Revenues and junior to the lien thereon of the 2018 Bonds.