No Additional Bonds Sample Clauses
The "No Additional Bonds" clause restricts the issuer from issuing new bonds that would rank equally with or ahead of the existing bonds in terms of payment priority. In practice, this means that after the initial bonds are issued, the issuer cannot create further debt instruments that would dilute the security or repayment rights of the current bondholders. This clause protects investors by ensuring that their claims are not subordinated or compromised by future borrowing, thereby maintaining the value and security of their investment.
No Additional Bonds. No Additional Bonds on a parity with the Bonds may be issued under the Indenture.
No Additional Bonds. The Bond Issuer shall not issue any additional Bonds hereunder, except pursuant to Section 2.05 or Section 2.06.
No Additional Bonds. It is understood and agreed that the Issuer shall not issue any additional series of Bonds, other than the Bonds pursuant to the Indenture.
No Additional Bonds. The Issuer covenants that it shall not issue additional bonds on a parity with or senior to the Bonds or refunding bonds without the prior approval of the Department.
No Additional Bonds. The County shall not issue any additional bonds secured by (A) a pledge of Special Taxes on a parity with or senior to the pledge thereof under Section 3.02 hereof; or (B) any amounts in any funds or accounts established hereunder.
No Additional Bonds. No Additional Bonds on a parity with the Bonds may be issued under the Indenture. Exhibit 4.27
No Additional Bonds. No additional bonds may be issued pursuant to this Trust Agreement.
No Additional Bonds. The Issuer shall not issue any additional Bonds hereunder, except pursuant to Registration;
No Additional Bonds. Except as expressly permitted by Section 2.14 hereof, the City shall not issue any additional bonds secured by (A) a pledge of Special Taxes on a parity with or senior to the pledge thereof under Section 4.01 hereof; or (B) any amounts in any funds or accounts established hereunder.
No Additional Bonds. The County shall not issue or incur any indebtedness payable from the Assessments or the amounts in the Redemption Fund (including the Prepayment Account therein), the Payment Fund or the Reserve Fund established under this Agreement.