Common use of Against Encumbrances Clause in Contracts

Against Encumbrances. (a) Other than Improvement Area #3 Bonds issued pursuant to the term of this Master Indenture, the City shall not create and, to the extent Pledged Revenues are received, shall not suffer to remain, any lien, encumbrance or charge upon the Trust Estate, or upon any other property pledged under this Master Indenture, except the pledge created for the security of the Improvement Area #3 Bonds, and other than a lien or pledge subordinate to the lien and pledge of such property related to the Improvement Area #3 Bonds. (b) So long as Improvement Area #3 Bonds are Outstanding hereunder, the City shall not issue any bonds, notes or other evidences of indebtedness, other than Improvement Area #3 Bonds authorized as set forth herein, and bonds issued to refund all or a portion of the Improvement Area #3 Bonds, secured by any pledge of or other lien or charge on the Trust Estate pledged under this Master Indenture, other than a lien or pledge subordinate to the lien and pledge of such property related to the Improvement Area #3 Bonds.