Examples of Transportation Resolution in a sentence
The Authority agrees that it will perform and comply with each and every financial covenant and agreement required to be performed or observed by it in the Resolution and the Transportation Resolution.
The Resolution and the Transportation Resolution have been duly and lawfully adopted, are in full force and effect and are valid and binding upon the Authority and enforceable in accordance with their respective terms.
The obligations of the Authority under the Resolution and the Transportation Resolution and the enforceability thereof are limited by bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting creditors’ rights.
In the event of a conflict between the definition of “Resolution Obligations” set forth in this Agreement and the definition of “Obligations” set forth in the Transportation Resolution, the definition set forth in the Transportation Resolution will control.
The Authority hereby makes to the Bank the same representations and warranties made by the Authority in the Resolution and the Transportation Resolution, which representations and warranties, as well as the related defined terms contained therein, are hereby incorporated by reference in this Section 6.1(i) for the benefit of the Bank with the same effect as if each and every such representation and warranty and defined term were set forth herein in its entirety.
The Authority is in compliance in all material respects with the Act, the Transportation Resolution, the Resolution, this Agreement and all Applicable Law.
Each MTA RAN issued to the Bank will have been duly authorized, executed, issued and delivered and will constitute valid and binding obligations of the Authority, enforceable in accordance with their respective terms and the terms of the Resolution and the Transportation Resolution, entitled to the benefits of the Act, the Resolution and the Transportation Resolution and payable and secured as described herein.
The Authority has or had, as applicable, all requisite legal right, power and authority to (i) adopt the Resolution and the Transportation Resolution, (ii) authorize and issue the MTA RANs under the Act and the Resolution, (iii) enter into this Agreement, the Fee Letter and the other Related Documents and (iv) carry out and perform its obligations required in connection with the consummation of the transactions contemplated by this Agreement, the Fee Letter and the other Related Documents.
U.S. Department of Transportation, Resolution of the U.S. Department of Transportation Access Committee, Nov.
The Transportation Resolution provides that bondholders are to be paid from pledged revenues prior to the payment of operating or other expenses, and as described in more detail below.