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 Sanitation Enterprise and payable from and secured by a lien on the 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 bonds or securities of the County which have alien on the Pledged 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, 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, First Lien Pledged Funds and Second Lien Pledged Funds that are junior and subordinate to the lien on such funds securing payment of First Lien Parity Obligations and Second Lien Parity Obligations.

Subordinate Securities means the 2010 Bonds, the 2018B Bonds, the 2018C Bonds, the 2018D Bonds, and any other securities of the City pertaining to the Municipal Utility System and payable from and secured by Gross Revenues subordinate and junior to the pledge thereof to the Parity Securities, to the extent issued in accordance with the terms, conditions and limitations hereof.

Subordinate Securities. Any one of the Class M Notes or Class B Securities.

Subordinate Securities. Available Distribution Amount" shall mean, with respect to any Distribution Date, the sum of (x) the Available Distribution Amount for Loan Group I for such Distribution Date, plus (y) the Available Distribution Amount for Loan Group II for such Distribution Date, in each case, after any distributions required to made prior to such Classes of Subaccounts on such Distribution Date pursuant to Section 4.01(b).