Common use of Advances by Bond Trustee Clause in Contracts

Advances by Bond Trustee. If the Corporation fails to make any payment or perform any of its covenants in this Loan Agreement, the Bond Trustee may, at any time and from time to time, use and apply any moneys held by it under the Bond Indenture, or make advances, to effect payment or performance of any such covenant on behalf of the Corporation. All moneys so used or advanced by the Bond Trustee, together with interest at the Bond Trustee’s announced prime rate per annum, shall be repaid by the Corporation upon demand and such advances shall be secured under the Bond Indenture prior to the Bonds. For the repayment of all such advances the Bond Trustee shall have the right to use and apply any moneys at any time held by it under the Bond Indenture but no such use of moneys or advance shall relieve the Corporation from any default hereunder.

Advances by Bond Trustee. If the Corporation Company fails to make any payment or perform any of its covenants in this Loan Lease Agreement, the Bond Trustee may, but shall not be obligated, at any time and from time to time, use and apply any moneys held by it under the Bond Indenture, or make advances, to effect payment or performance of any such covenant on behalf of the CorporationCompany. All moneys so used or advanced by the Bond Trustee, together with interest at the Bond Trustee’s announced prime rate plus 2% per annum, shall be repaid by the Corporation Company upon demand and such advances shall be secured under the Bond Indenture prior to the Bonds. For the repayment of all such advances the Bond Trustee shall have the right to use and apply any moneys at any time held by it under the Bond Indenture but no such use of moneys or advance shall relieve the Corporation Company from any default hereunder.

Advances by Bond Trustee. If the Corporation fails to make any payment or perform any of its covenants in this Loan Agreement, the Bond Trustee maymay but shall not be required, at any time and from time to time, use and apply any moneys held by it under the Bond Indenture, or make advances, to effect payment or performance of any such covenant on behalf of the Corporation. All moneys so used or advanced by the Bond Trustee, together with interest at the Bond Trustee’s announced prime rate per annumannum plus 2%, shall be repaid by the Corporation upon demand and such advances shall be secured under the Bond Indenture prior to the Bonds. For the repayment of all such advances the Bond Trustee shall have the right to use and apply any moneys at any time held by it under the Bond Indenture but no such use of moneys or advance shall relieve the Corporation from any default hereunder.

Advances by Bond Trustee. If the Corporation Company fails to make any payment or perform any of its covenants in this Loan Lease Agreement, the Bond Trustee may, at any time and from time to time, use and apply any moneys held by it under the Bond Indenture, or make advances, to effect payment or performance of any such covenant on behalf of the CorporationCompany. All moneys so used or advanced by the Bond Trustee, together with interest at the Bond Trustee’s announced prime rate plus 2% per annum, shall be repaid by the Corporation Company upon demand and such advances shall be secured under the Bond Indenture prior to the Bonds. For the repayment of all such advances the Bond Trustee shall have the right to use and apply any moneys at any time held by it under the Bond Indenture but no such use of moneys or advance shall relieve the Corporation Company from any default hereunder.