Subordinated Contract Obligation definition
Subordinated Contract Obligation means any payment obligation of the Agency (other than a payment obligation constituting a Parity Obligation) arising under (a) any agreement with respect to a Credit Facility which has been designated as constituting a “Subordinated Contract Obligation” pursuant to the Supplemental Resolution authorizing the Series of Bonds to which such Credit Facility relates, (b) any Qualified Hedge, or portion of a Qualified Hedge, which has been designated as constituting a “Subordinated Contract Obligation” pursuant to the Supplemental Resolution authorizing the Series of Bonds to which such Qualified Hedge relates, (c) any Subordinate Bonds and (d) any other contract, agreement or other obligation authorized by a Supplemental Resolution and designated as constituting a “Subordinated Contract Obligation” in such authorizing Supplemental Resolution. Each Subordinated Contract Obligation shall be payable from the Revenues and funds and accounts established under the General Resolution subject and subordinate to the payments to be made with respect to Parity Obligations, and shall be secured by a subordinate lien on and pledge of the Revenues and such funds and accounts, all as set forth in the General Resolution or in the related Supplemental Resolution.
Subordinated Contract Obligation means the Debt Service Component of a Supply Contract that does not constitute a Parity Contract Obligation.
Subordinated Contract Obligation means any payment obligation arising under (a) any Credit Facility which has been designated as constituting a "Subordinated Contract Obligation" in a certificate of an Authorized Officer of the Authority delivered to the Trustee, (b) any Qualified Swap which has been designated as constituting a "Subordinated Contract Obligation" in a certificate of an Authorized Officer of the Authority delivered to the Trustee, and (e) any other contract, agreement or other obligation authorized by resolution of the Authority and designated as constituting a "Subordinated Contract Obligation" in a certificate of an Authorized Officer of the Authority delivered to the Trustee. Each Subordinated Contract Obligation shall be payable from the Revenues subject and subordinate to the payments to be made with respect to the Bonds, and shall be secured by a lien on and pledge of the Revenues junior and inferior to the lien on and pledge of the Revenues herein created for the payment of the Bonds.
More Definitions of Subordinated Contract Obligation
Subordinated Contract Obligation means any payment obligation of the Agency (other than a payment obligation constituting a Parity Obligation) arising under (a) any Security Arrangement which has been designated as constituting a “Subordinated Contract Obligation” pursuant to the Series Resolution or Supplemental Resolution authorizing such Security Arrangement, (b) any Qualified Hedge, or portion of a
Subordinated Contract Obligation means any payment obligation of the Agency (other than a payment obligation constituting a Parity Obligation) arising under (a) any Security Arrangement which has been designated as constituting a “Subordinated Contract Obligation” pursuant to the Series Resolution or
Subordinated Contract Obligation means any payment obligation of the Agency (other than a payment obligation constituting a Parity Obligation) arising under (a) any Security Arrangement which has been designated as constituting a “Subordinated Contract Obligation” pursuant to the Series Resolution or Supplemental Resolution authorizing such Security Arrangement, (b) any Qualified Hedge, or portion of a Qualified Hedge, which has been designated as constituting a “Subordinated Contract Obligation” pursuant to the Series Resolution or Supplemental Resolution authorizing such Qualified Hedge, and (c) any other contract, agreement or other obligation authorized by a Series Resolution or Supplemental Resolution and designated as constituting a “Subordinated Contract Obligation” in such authorizing Series Resolution or Supplemental Resolution. Each Subordinated Contract Obligation shall be payable from the Pledged Property subject and subordinate to the payments to be made with respect to the Parity Obligation, and shall be secured by a lien on and pledge of the Pledged Property, all as set forth in the General Resolution or in the related Series Resolution or Supplemental Resolution.
Subordinated Contract Obligation means any payment obligation (other than a payment obligation constituting Parity Debt or Subordinated Indebtedness) arising under (a) any Credit Facility which has been designated in writing by EPB as constituting a “Subordinated Contract Obligation,” (b) any Qualified Swap which has been designated in writing by EPB as constituting a “Subordinated Contract Obligation,” and (c) any other contract, agreement or other obligation authorized by ordinance or resolution of the Issuer and designated in writing by EPB as constituting a “Subordinated Contract Obligation.” Each Subordinated Contract Obligation shall be payable from the Trust Estate subject and subordinate to the payments to be made with respect to the Obligations and Parity Debt, as provided for in Section 7.02(A) hereof, and shall be secured by a lien on and pledge of the Trust Estate junior and inferior to the lien on and pledge of the Trust Estate herein created for the payment of the Obligations and Parity Debt.