Common use of Pledge of Net Revenues Clause in Contracts

Pledge of Net Revenues. The District hereby agrees that the payment of the Installment Payments shall be secured by a first pledge, charge and lien upon Net Revenues which pledge, charge and lien are on a parity with any Parity Debt, and Net Revenues sufficient to pay the Installment Payments as they become due and payable are hereby pledged, charged, assigned, transferred and set over by the District to the Authority and its assigns for the purpose of securing

Pledge of Net Revenues. The District hereby agrees that the payment of the Installment Payments shall be secured by a first pledge, charge and first and prior lien upon Net Revenues which pledge, charge and lien are on a parity with any Parity DebtRevenues, and Net Revenues sufficient to pay the Installment Payments as they become due and payable are hereby pledged, charged, assigned, transferred and set over by the District to the Authority Corporation and its assigns for the purpose of securingsecuring payment of the Installment Payments. The Net Revenues shall constitute a trust fund for the security and payment of the Installment Payments.