Common use of Application of Moneys in Event of Default Clause in Contracts

Application of Moneys in Event of Default. Any money received by the Trustee under this Article VIII shall be applied in the order listed below (provided that any money received by the Trustee upon drawing under the Letter of Credit together with Available Moneys on deposit in the Bond Fund and available for payment of principal and interest on all Outstanding Bonds any money held by the Trustee upon the nonpresentment of Bonds and any money held by the Trustee for the defeasance of Bonds pursuant to Article XI shall be applied only as provided in clause (b) below and only to pay outstanding principal and accrued interest as provided in the Letter of Credit, with respect to the Bonds): (a) to the payment of the fees and expenses of the Trustee including reasonable counsel fees and expenses, and any disbursements of the Trustee with interest thereon and its reasonable compensation; (b) To the payment of principal and interest then owing on the Bonds, including any interest on overdue interest, and in case such money shall be insufficient to pay the same in full, then to the payment of principal and interest ratably without preference or priority of one over another or of any installment of interest over any other installment of interest; (c) To the payment of any unreimbursed drawing under the Letter of Credit or other obligations owing by the Company to the Bank under the Reimbursement Agreement; and (d) The surplus if any remaining after the application of the money as set forth above shall be paid to the Company or the person lawfully entitled to receive the same as a court of competent jurisdiction may direct.

Application of Moneys in Event of Default. Any money moneys received by the Trustee under this Article VIII shall be applied in the following order listed below (provided that any money moneys received by the Trustee upon from a drawing under on the Letter of Credit together with Available Moneys on deposit in the Bond Fund and available for payment of principal and interest on all Outstanding Bonds any money held by the Trustee upon the nonpresentment of Bonds and any money held by the Trustee for the defeasance of Bonds pursuant to Article XI shall be applied to the extent permitted by the terms thereof only as provided in clause (bc) below and only to pay outstanding principal and accrued interest as provided in the Letter of Credit, with respect to the Bonds other than Custody Bonds or Company Bonds): (a) to To the payment of the fees and expenses of the Trustee including reasonable counsel fees and expenses, and any disbursements of the Trustee with interest thereon and its reasonable compensationamount required pursuant to Section 6.05; (b) To the payment of the costs of the Trustee and the Tender Agent, including counsel fees, any disbursements of the Trustee and the Tender Agent with interest thereon and their reasonable compensation; (c) To the payment of principal or redemption price (as the case may be) and interest then owing on the Bonds, including any interest on overdue interest, and in case such money moneys shall be insufficient to pay the same in full, then to the payment of principal or redemption price and interest ratably ratably, without preference or priority of one over another or of any installment of interest over any other installment of interest;; and (cd) To the payment of costs and expenses of the Issuer, including counsel fees, incurred in connection with the Event of Default. The surplus, if any, remaining after the application of the moneys as set forth above shall, to the extent of any unreimbursed drawing under the Letter of Credit Credit, or other obligations owing by the Company to the Bank under the Reimbursement Agreement; and (d) The surplus if any , be paid to the Bank. Any remaining after the application of the money as set forth above moneys shall be paid to the Company or the person lawfully entitled to receive the same as a court of competent jurisdiction may direct.

Application of Moneys in Event of Default. Any money moneys received by the Trustee under this Article VIII X shall be applied in the order listed below (following order; provided that any money moneys received by the Trustee upon from a drawing under on the Letter of Credit together with Available Moneys on deposit in the Bond Fund and available for payment of principal and interest on all Outstanding Bonds any money held by the Trustee upon the nonpresentment of Bonds and any money held by the Trustee for the defeasance of Bonds pursuant to Article XI Facility shall be applied to the extent permitted by the terms thereof only as provided in clause (bB) below and only to pay outstanding principal and accrued interest as provided in the Letter of Credit, with respect to the Bonds):principal of, and interest accrued on, Bonds other than Bonds held by the Company after purchase thereof pursuant to Section 3.04(a)(iii) and other than Bonds held pursuant to Section 3.05: 66 (a) to A. To the payment of the fees and expenses reasonable costs of the Trustee Trustee, including reasonable counsel fees and expensesfees, and any disbursements of the Trustee with interest thereon and its reasonable compensation;Trustee; and (b) B. To the payment of principal or redemption price (as the case may be) and interest then owing on the Bonds, including any interest on overdue interest, and in case such money moneys shall be insufficient to pay the same in full, then to the payment of principal or redemption price and interest ratably ratably, without preference or priority of one over another or of any installment of interest over any other installment of interest; (c) C. To the reimbursement of the Credit Facility Issuer for unreimbursed draws under the Credit Facility; and D. To the payment of any unreimbursed drawing under the Letter of Credit or other obligations owing by the Company to the Bank under the Reimbursement Agreement; and (d) The surplus if any remaining after the application reasonable costs and expenses of the money as set forth above Credit Facility Issuer, including counsel fees, incurred in connection with the Event of Default. The surplus, if any, shall be paid to the Company or the person lawfully entitled to receive the same as a court of competent jurisdiction may direct.

Application of Moneys in Event of Default. Any money moneys received by the Trustee under this Article VIII shall be applied in the order listed below (provided that any money moneys received by the Trustee upon drawing under the Letter of Credit together with Available Moneys on deposit in the Bond Fund and available for payment of principal and Purchase Price of and interest on all Outstanding Bonds Bonds, any money moneys held by the Trustee upon the nonpresentment of Bonds and any money moneys held by the Trustee for the defeasance of Bonds pursuant to Article XI shall be applied only as provided in clause (b) B below and only to pay outstanding principal and accrued interest interest, as provided in the Letter of Credit, with respect to the Bonds): (a) to A. To the payment of the fees and expenses of the Trustee and the Authority including reasonable counsel fees and expenses, and any disbursements of the Trustee with interest thereon and its reasonable compensation; (b) B. To the payment of principal and Purchase Price of and interest then owing on the Bonds, including any interest on overdue interest, and in case such money moneys shall be insufficient to pay the same in full, then to the payment of principal and Purchase Price of and interest ratably ratably, without preference or priority of one over another or of any installment of interest over any other installment of interest;; and (c) To C. The surplus, if any, remaining after the payment application of the moneys as set forth above shall, to the extent of any unreimbursed drawing under the Letter of Credit or other obligations owing by the Company Borrower to the Bank under the Reimbursement Agreement; and (d) The surplus if any , as certified by the Bank to the Trustee, be paid to the Bank. Any remaining after the application of the money as set forth above moneys shall be paid to the Company Borrower or the person Person lawfully entitled to receive the same as a court of competent jurisdiction may direct.

Application of Moneys in Event of Default. Any money received by the Trustee under this Article VIII shall be applied in the order listed below (provided that any money received by the Trustee upon a drawing under the Letter of Credit together with Available Moneys on deposit in the Bond Fund and available for payment of principal and interest on all Outstanding Bonds Bonds, any money held by the Trustee upon the nonpresentment of Bonds and any money held by the Trustee for the defeasance of Bonds pursuant to Article XI shall be applied only as provided in clause (bB) below and only to pay outstanding principal and accrued interest interest, as provided in the Letter of Credit, with respect to the Bonds): (aA) to To the payment of the fees and expenses of the Trustee and the Authority including reasonable counsel fees and expenses, and any disbursements of the Trustee with interest thereon and its reasonable compensation; (bB) To the payment of principal and interest then owing on the Bonds, including any interest on overdue interest, and in case such money shall be insufficient to pay the same in full, then to the payment of principal and interest ratably ratably, without preference or priority of one over another or of any installment of principal or interest over any other installment of principal or interest; (c) To ; and The surplus, if any, remaining after the payment application of the money as set forth above shall to the extent of any unreimbursed drawing under the Letter of Credit Credit, or other obligations owing by the Company to the Bank under the Reimbursement Agreement; and (d) The surplus if any , be paid to the Bank. Any remaining after the application of the money as set forth above shall be paid to the Company or the person lawfully entitled to receive the same as a court of competent jurisdiction may direct.

Application of Moneys in Event of Default. Any money received by the Trustee under this Article VIII shall be applied in the order listed below (provided that any money received by the Trustee upon a drawing under the Letter of Credit together with Available Moneys on deposit in the Bond Fund and available for payment of principal and interest on all Outstanding Bonds Bonds, any money held by the Trustee upon the nonpresentment of Bonds and any money held by the Trustee for the defeasance of Bonds pursuant to Article XI shall be applied only as provided in clause (bB) below and only to pay outstanding principal and accrued interest interest, as provided in the Letter of Credit, with respect to the Bonds): (aA) to To the payment of the fees and expenses of the Trustee and the Board including reasonable counsel fees and expenses, and any disbursements of the Trustee with interest thereon and its reasonable compensation; (bB) To the payment of principal and interest then owing on the Bonds, including any interest on overdue interest, and in case such money shall be insufficient to pay the same in full, then to the payment of principal and interest ratably ratably, without preference or priority of one over another or of any installment of principal or interest over any other installment of principal or interest; (c) To ; and The surplus, if any, remaining after the payment application of the money as set forth above shall to the extent of any unreimbursed drawing under the Letter of Credit Credit, or other obligations owing by the Company to the Bank under the Reimbursement Loan Agreement; and (d) The surplus if any , be paid to the Letter of Credit Bank or the Bank as the Bank shall direct. Any remaining after the application of the money as set forth above shall be paid to the Company or the person lawfully entitled to receive the same as a court of competent jurisdiction may direct.

Application of Moneys in Event of Default. Any money received by the Trustee under this Article VIII shall be applied in the order listed below (provided that any money received by the Trustee upon a drawing under the Letter Letters of Credit together with Available Moneys on deposit in the Bond Fund and available for payment of principal and interest on all Outstanding Bonds Credit, any money held by the Trustee upon the nonpresentment of Bonds and any money held by the Trustee for the defeasance of Bonds pursuant to Article XI shall be applied only as provided in clause (b) B below and only to pay outstanding principal and accrued interest interest, as provided in the Letter of Creditthis Indenture, with respect to the Bonds): (a) to A. To the payment of the fees and expenses of the Trustee and the Authority, including reasonable counsel fees and expenses, and any disbursements of the Trustee with interest thereon and its reasonable compensation; (b) B. To the payment of principal principal, Purchase Price and interest then owing on the Bonds, including any interest on overdue interest, and and, in case such money shall be insufficient to pay the same in full, then to the payment of principal and interest ratably ratably, without preference or priority of one over another or of any installment of principal or interest over any other installment of principal or interest; (c) To ; and The surplus, if any, remaining after the payment application of the money as set forth above shall to the extent of any unreimbursed drawing under the Letter Letters of Credit Credit, or other obligations owing by the Company to the Bank under the Reimbursement Agreement; and (d) The surplus if any , be paid to the Bank. Any remaining after the application of the money as set forth above shall be paid to the Company or the person lawfully entitled to receive the same as a court of competent jurisdiction may direct.

Application of Moneys in Event of Default. Any money moneys received or collected by the Trustee or otherwise paid under this Article VIII shall be applied in the order listed below (provided following order; provided, however, that any money all moneys received by the Trustee pursuant to any drawing made upon drawing under the Letter of Credit together with Available Moneys on deposit in pursuant to Section 11.2 shall be applied by the Bond Fund Trustee to and available for only to the payment of principal of and interest on all Outstanding the Bonds any money held by the Trustee upon the nonpresentment of (other than Bank Bonds and any money held by the Trustee for the defeasance of Bonds pursuant to Article XI shall be applied only as provided in clause (b) below and only to pay outstanding principal and accrued interest as provided in the Letter of Credit, with respect to the Company Bonds): (ai) to To the payment of the fees reasonable costs and expenses of the Trustee Trustee, including reasonable counsel fees and expenses, and any disbursements of the Trustee Trustee, its agents and counsel, with interest thereon at the prime rate of the Trustee, and its reasonable compensation;compensation and all other amounts due the Trustee pursuant to Section 12.4 hereof and the Agreement; and (bii) To the payment of principal or redemption price (as the case may be) and interest then owing on the Bonds (including Bank Bonds, including any interest on overdue interest), and in case such money moneys shall be insufficient to pay the same in full, then to the payment of principal or redemption price and interest ratably ratably, without preference or priority of one over another or of any installment of interest over any other installment of interest;; and (ciii) To the payment of reasonable costs and expenses of the Issuer, including reasonable counsel fees, incurred in connection with the Event of Default. The surplus, if any, shall, to the extent of any unreimbursed drawing under the Letter of Credit Credit, or other obligations owing by the Company to the Bank under the Reimbursement Agreement; and (d) The surplus if any remaining after the application of the money as set forth above shall , be paid to the Company or Bank, and any remaining amounts be paid to the person lawfully entitled to receive Company. Funds on deposit in the same as a court of competent jurisdiction may directBond Purchase Fund shall be applied in accordance with Section 4.4 hereof.