Use of Moneys in Bond Fund Sample Clauses

Use of Moneys in Bond Fund. Except as otherwise provided in Sections 5.8 and 11.2 hereof, moneys in the Bond Fund shall be used solely for the payment of the principal of and premium, if any, and interest on the Bonds and for the redemption or purchase of Bonds.
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Use of Moneys in Bond Fund. Except as otherwise provided in this Agreement, moneys in the Bond Fund shall be used solely for the payment of the principal (whether at maturity or upon acceleration or redemption or otherwise) of, and premium, if any, and interest due or to become due on the Bonds. On each Interest Payment Date, the Trustee shall withdraw from the Bond Fund moneys deposited to the credit of the Bond Fund pursuant to Section 502 hereof, and remit by first class mail or by wire transfer, if applicable, as provided in Section 203 of this Agreement, to each Holder the amounts required for paying the interest on the Bonds as such interest becomes due and payable. On or before each Interest Payment Date on which the payment of principal, and premium, if any, becomes due and payable, the Trustee shall withdraw from the Bond Fund and set aside or 56 63 deposit in trust sufficient moneys for paying the principal of and redemption premium, if any, on all Bonds as such principal and premium, if any, become due, whether at maturity, upon acceleration or redemption or otherwise. Any provision in this Agreement to the contrary notwithstanding, no payment of the principal of and premium, if any, and interest on Bonds held by or on behalf of the Borrower shall be made by the Trustee. Any profit realized from the investment of moneys deposited to the credit of the Bond Fund may be withdrawn by the Borrower.
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Use of Moneys in Bond Fund. Except as otherwise provided in Sections 5.05, 5.06, 5.08, 9.01, 10.10 and 11.04 hereof, moneys in the Bond Fund shall be used solely for the payment of the principal of and interest and any premium on the Bonds as the same shall become due and payable on an Interest Payment Date or at maturity, upon redemption or acceleration or otherwise. Funds for such payments of the principal of and interest and any premium on the Bonds shall be derived from the following sources in the order of priority indicated:
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Use of Moneys in Bond Fund. Except as otherwise provided in this Agreement, the Trustee shall only use Eligible Moneys in the Bond Fund for the payment of the principal (whether at maturity or upon acceleration or redemption or otherwise) of, and premium, if any, and interest due or to become due on the Bonds. ---On each Interest Payment Date, the Trustee shall withdraw Eligible Moneys deposited to the credit of the Bond Fund pursuant to Section 502 hereof, and remit to each Holder, as provided in Article 11 of this Agreement, the amounts required for paying the interest on the Bonds as such interest becomes due and payable. On or before each Interest Payment Date on which the payment of principal, and premium, if any, becomes due and payable, the Trustee shall withdraw from the Bond Fund and set aside or deposit in trust sufficient Eligible Moneys for paying the principal of and redemption premium, if any, on all Bonds as such, principal and premium, if any, become due, whether at maturity, upon acceleration or redemption or otherwise. ---Any provision in this Agreement to the contrary notwithstanding, no payment of the principal of and premium, if any, and interest on Bonds held by or on behalf of the Borrower shall be made by the Trustee. ---Any profit realized from the investment of moneys deposited to the credit of the Bond Fund may be withdrawn by the Borrower with the consent of the Letter of Credit Issuer.
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Use of Moneys in Bond Fund. (a) Moneys, if any, paid into the Bond Fund pursuant to clause (i) of Section 4.03(a) hereof shall be applied to the payment of interest on the Bonds. Except as otherwise provided in Sections 4.06, 9.01 and 10.04 hereof, all other moneys in the Bond Fund constituting part of the Trust Estate shall be used solely for the payment of the principal of and premium, if any, and interest on the Bonds as the same shall become due and payable at maturity, upon redemption or otherwise.
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Use of Moneys in Bond Fund. (A) Except as otherwise provided in this Trust Agreement, Eligible Moneys in the Bond Fund shall be used solely for the payment of the principal (whether at maturity or upon acceleration or redemption or otherwise) of and premium, if any, and interest on the Bonds. On each Interest Payment Date and on each Principal Payment Date, the Trustee shall withdraw from the Bond Fund sufficient Eligible Moneys and pay the amounts due and payable to the Bondholders pursuant to this Trust Agreement.
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Use of Moneys in Bond Fund. (a) Except as provided in subsection (b) of this Section and in Sections 4.10 and 4.12 hereof, moneys in the Bond Fund shall be used solely for the payment of the principal of, premium, if any, and interest on the Bonds as the same shall become due and payable whether at maturity, upon redemption or otherwise and for the Purchase Price of the Bonds as the same shall become due; provided, however, that to the extent such principal, premium (to the extent permitted by the Letter of Credit), interest or Purchase Price is paid with proceeds of a drawing under the Letter of Credit and the Company does not reimburse the Bank directly, the Trustee shall promptly reimburse the Bank from funds on deposit in the Bond Fund (other than remarketing proceeds or proceeds from a drawing on the Letter of Credit) in accordance with written instructions given from time to time to the Trustee by the Bank.
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Related to Use of Moneys in Bond Fund

  • Application of Moneys Collected Any moneys collected by the Trustee pursuant to this Article with respect to a particular series of Securities shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation of the Securities of that series, and notation thereon of the payment, if only partially paid, and upon surrender thereof if fully paid:

  • Application of Moneys All moneys received by the Agent and/or the Security Trustee under or pursuant to any of the Security Documents and expressed to be applicable in accordance with the provisions of this clause 13.1 or in a manner determined in the Security Trustee’s or (as the case may be) the Agent’s discretion, shall be applied in the following manner:

  • Investment of Moneys All moneys in any of the funds and accounts established pursuant to this Bond Indenture shall be invested by the Trustee (other than amounts deposited in the Purchase Fund and Credit Facility Fund, which proceeds shall remain uninvested), upon the written direction of the Borrower given at least two days prior to the investment date, solely in Investment Securities. Investment Securities shall be purchased at such prices as the Borrower may direct. All directions of the Borrower to invest in Investment Securities shall be made subject to the limitations set forth in Section 6.06, the limitations as to maturities hereinafter in this Section set forth and such additional limitations or requirements consistent with the foregoing as may be established by Request of the Borrower. No Request of the Borrower shall impose any duty on the Trustee inconsistent with its fiduciary responsibilities. In the absence of directions from the Borrower, the Trustee shall invest in Fidelity Institutional Money Market Fund – Prime Money Market Portfolio or in any other Investment Securities specified in Clause (8) of the definition thereof in Exhibit B specified by the Borrower in writing. Moneys in all funds and accounts shall be invested in Investment Securities maturing not later than the date on which it is estimated that such moneys will be required for the purposes specified in this Bond Indenture. Investment Securities purchased under a repurchase agreement may be deemed to mature on the date or dates on which the Trustee may deliver such Investment Securities for repurchase under such agreement. All interest, profits and other income received from the investment of moneys in any fund or account established pursuant to this Bond Indenture shall be deposited when received in such fund or account. Notwithstanding anything to the contrary contained in this paragraph, an amount of interest received with respect to any Investment Security equal to the amount of accrued interest, if any, paid as part of the purchase price of such Investment Security shall be credited to the fund or account for the credit of which such Investment Security was acquired. Moneys held in the Redemption Fund for the redemption of Bonds shall be invested solely in Investment Securities specified in Clause (1) or (8) of the definition thereof in Exhibit B, maturing in such amounts and at such times as are required for such redemption. If the Borrower causes moneys to be deposited with the Trustee as a prepayment of Loan Payments under the Loan Agreement, until such moneys are paid to Bondholders or the Credit Facility Providers (if any), such moneys shall be invested solely in Investment Securities specified in Clause (1) or (8) of the definition thereof in Exhibit B. Investment Securities acquired as an investment of moneys in any fund or account established under this Bond Indenture shall be credited to such fund or account. For the purpose of determining the amount in any such fund or account, all Investment Securities credited to such fund or account shall be valued at the lower of cost (exclusive of accrued interest after the first payment of interest following acquisition) or par value (plus, prior to the first payment of interest following acquisition, the amount of interest paid as part of the purchase price). The Trustee may commingle any of the funds or accounts established pursuant to this Bond Indenture (other than the Credit Facility Fund, the Rebate Fund and the Purchase Fund) into a separate fund or funds for investment purposes only, provided that all funds or accounts held by the Trustee hereunder shall be accounted for separately as required by this Bond Indenture. The Trustee may act as principal or agent in the making or disposing of any investment. The Trustee may sell at the best price obtainable, or present for redemption, any Investment Securities so purchased whenever it shall be necessary to provide moneys to meet any required payment, transfer, withdrawal or disbursement from the fund or account to which such Investment Security is credited, and, subject to the provisions of Section 8.03, the Trustee shall not be liable or responsible for any loss resulting from any investment made in accordance with provisions of this Section. Any Investment Securities that are registrable securities shall be registered in the name of the Trustee. The Trustee is hereby authorized, in making or disposing of any investment permitted by this Section, to deal with itself (in its individual capacity) or with any one or more of its affiliates, whether it or such affiliate is acting as an agent of the Trustee or for any third person or dealing as principal for its own account.

  • Deposit of Moneys Prior to 11:00 a.m. New York City time on each interest payment date and maturity date with respect to each Series of Securities, the Company shall have deposited with the Paying Agent in immediately available funds money sufficient to make cash payments due on such interest payment date or maturity date, as the case may be, in a timely manner which permits the Paying Agent to remit payment to the Holders on such interest payment date or maturity date, as the case may be.

  • Collection of Moneys Except as otherwise expressly provided in this Agreement, the Trustee and the Paying Agent may demand payment or delivery of, and shall receive and collect, all money and other property payable to or receivable by the Trustee or the Paying Agent, as the case may be, pursuant to this Agreement. The Trustee or the Paying Agent, as the case may be, shall hold all such money and property received by it as part of the Trust and shall distribute it as provided in this Agreement. If the Trustee or the Paying Agent, as the case may be, shall not have timely received amounts to be remitted with respect to the Mortgage Loans from the Master Servicer, the Trustee or the Paying Agent, as the case may be, shall request the Master Servicer to make such distribution as promptly as practicable or legally permitted. If the Trustee or the Paying Agent, as the case may be, shall subsequently receive any such amount, it may withdraw such request.

  • Collection of Money Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture. The Indenture Trustee shall apply all such money received by it as provided in this Indenture. Except as otherwise expressly provided in this Indenture, if any default occurs in the making of any payment or performance under any agreement or instrument that is part of the Trust Estate, the Indenture Trustee may take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and any right to proceed thereafter as provided in Article V.

  • Payment of Moneys (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the Cash Account (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:

  • Repayment of Moneys Held by Paying Agent In connection with the satisfaction and discharge of this Indenture with respect to the Notes, all moneys then held by any Paying Agent other than the Indenture Trustee under the provisions of this Indenture with respect to such Notes shall, upon demand of the Issuer, be paid to the Indenture Trustee to be held and applied according to Section 3.03 and thereupon such Paying Agent shall be released from all further liability with respect to such moneys.

  • Application of Moneys Received upon Sale Any moneys collected by the Trustee upon any sale made either under the power of sale given by this Agreement or otherwise for the enforcement of this Agreement shall be applied as provided in Section 4.02.

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