The term "Aggregate Obligations" refers to the total amount of financial obligations that the Authority is responsible for during a specific period concerning one or more Series of Bonds. This includes two components:
1. The Authority's Bond Payment Obligations: This encompasses the payments that the Authority is required to make during the specified period in relation to the particular Series of Bonds. 1. The Authority's Credit Facility Payment Obligations: This involves the payments due and owed by the Authority for the given period in connection with any Credit Facility that serves as security for some or all of the Series of Bonds.
In summary, Aggregate Obligations represent the combined sum of the Authority's obligations towards bond payments and credit facility payments for a specified period concerning one or more Series of Bonds.
# Definition
> Aggregate Obligations means, for any period with respect to any one or more Series of Bonds, the sum of (i) the Authority’s Bond Payment Obligations due and owing for such period with respect to such Series of Bonds, and (ii) the Authority’s Credit Facility Payment Obligations due and owing for such period in connection with any Credit Facility securing all or a portion of such Series of Bonds. - lawinsider.com 
# Utility Aggregate Obligations are useful for several reasons: 1. **Financial Planning**: They provide a comprehensive view of the total financial obligations that an entity, such as the Authority in this context, is responsible for during a specific period. This information is crucial for financial planning and budgeting purposes. 2. **Risk Assessment**: By understanding the total obligations, stakeholders can assess the financial risk associated with servicing those obligations. This is particularly important for investors, creditors, and rating agencies evaluating the financial health and creditworthiness of the entity issuing the bonds. 3. **Compliance Monitoring**: Entities often have covenants or contractual agreements related to their financial obligations. Monitoring Aggregate Obligations helps ensure compliance with these agreements. 4. **Decision Making**: Knowing the total obligations can inform decision-making processes regarding capital allocation, debt management, and financial strategies. 5. **Disclosure and Transparency**: Providing information about Aggregate Obligations enhances transparency and disclosure, which is important for maintaining trust and confidence among stakeholders. As for who typically uses Aggregate Obligations: 1. **Investors**: Investors, such as institutional investors, bondholders, and potential buyers of bonds, use this information to assess the credit risk associated with investing in bonds issued by the entity. 2. **Credit Rating Agencies**: Credit rating agencies use Aggregate Obligations as part of their analysis to assign credit ratings to bonds and other financial instruments. These ratings influence investors' perceptions of credit risk. 3. **Regulators**: Regulatory authorities may use Aggregate Obligations data to monitor compliance with financial regulations and ensure the stability of financial markets. 4. **Financial Analysts**: Financial analysts utilize Aggregate Obligations data to conduct financial analysis and make recommendations to investors or clients. 5. **Management and Board Members**: Internal stakeholders, such as management teams and board members of the entity issuing the bonds, use Aggregate Obligations to understand the organization's financial commitments and make strategic decisions accordingly.