Common use of Against Encumbrances Clause in Contracts

Against Encumbrances. The District will not make any pledge of or place any lien on Revenues or the moneys in the Revenue Fund except as provided herein. The District may at any time, or from time to time, issue evidences of indebtedness or incur other obligations for any lawful purpose which are payable from and secured by a pledge of and lien on Revenues or any moneys in the Revenue Fund as may from time to time be deposited therein as provided in Section 5.4. The District may issue evidences of indebtedness or incur other obligations without complying with Section 5.4 hereof provided that the pledge and lien shall be subordinate in all respects to the pledge of and lien thereon provided herein and that the payment of such evidences of indebtedness and obligations is subordinate to the payment to the payment of the Series 2023 Installment Payments and any payments with respect to Bonds and Contracts.

Against Encumbrances. The District will not make any pledge of or place any lien on Revenues or the moneys in the Revenue Fund except as provided herein. The District may at any time, or from time to time, issue evidences of indebtedness or incur other obligations for any lawful purpose which are payable from and secured by a pledge of and lien on Revenues or any moneys in the Revenue Fund as may from time to time be deposited therein as provided in Section 5.4. The District may issue evidences of indebtedness or incur other obligations without complying with Section 5.4 hereof provided that the pledge and lien shall be subordinate in all respects to the pledge of and lien thereon provided herein and that the payment of such evidences of indebtedness and obligations is subordinate to the payment to the payment of the Series 2023 Installment Payments and any payments with respect to Bonds and Contracts.