Unencumbered tobacco revenues means that portion of the TSRs that are not encumbered tobacco revenues.
Unencumbered tobacco revenues means that portion of the TSRs
Unencumbered tobacco revenues means that portion of the TSRs that are not subject to the pledge of the applicable corporate resolution, trust agreement or trust indenture by the corporation to the repayment of any securities issued pursuant to the terms of such applicable corporation resolution, trust agreement or trust indenture.