Common use of Subordination to Bond Resolution Clause in Contracts

Subordination to Bond Resolution. A. This Agreement and all rights granted to AIRLINE hereunder are expressly subordinated and subject to the lien and provisions of the pledges, transfer, hypothecation, or assignment made by AUTHORITY in the Resolution. AUTHORITY and AIRLINE agree that to the extent required by the Resolution or law, the holders of the Bonds or their designated representatives shall have the right to exercise any and all rights of AUTHORITY hereunder.

Subordination to Bond Resolution. A. This Agreement and all rights granted to AIRLINE hereunder are expressly subordinated and subject to the lien lien, covenants (including the rate covenants), and provisions of the pledges, transfer, hypothecation, or assignment made by AUTHORITY in the Bond Resolution. AUTHORITY and AIRLINE agree that to the extent required by the Bond Resolution or law, the holders of the Bonds or their designated representatives shall have the right to exercise any and all rights of AUTHORITY hereunder.

Subordination to Bond Resolution. A. A This Agreement and all rights granted to AIRLINE of Airline hereunder are expressly subordinated subject and subject subordinate to the lien and provisions of the pledgesany pledge, transfer, hypothecation, or assignment made at any time by AUTHORITY in the ResolutionAuthority to secure Bond financing. AUTHORITY This Agreement is subject and AIRLINE agree that subordinate to the extent required by the Resolution or lawterms, the holders covenants, and conditions of the Bonds or their designated representatives shall have the right to exercise any and all rights of AUTHORITY hereunderBond Resolution.