Application of Revenues and Other Funds After Default. If an Event of Default shall occur and be continuing, all Revenues and any other funds then held or thereafter received by the Trustee under any of the provisions of this Bond Indenture (other than payments received from a Credit Facility Provider and moneys required to be deposited in the Rebate Fund and subject to the requirements of Section 11.10 relating to the use of moneys held for particular Bonds) shall be applied by the Trustee as follows and in the following order:
Application of Revenues and Other Funds After Default. If an Event of Default shall occur and be continuing, all Revenues and any other funds then held or thereafter received by the Trustee under any of the provisions of this Indenture shall be applied by the Trustee as follows and in the following order:
(a) To the payment of any expenses necessary in the opinion of the Trustee to protect the interests of the Owners of the Bonds and payment of reasonable fees, charges and expenses of the Trustee (including reasonable fees and disbursements of its counsel) incurred in and about the performance of its powers and duties under this Indenture;
(b) To the payment of the principal of and interest then due on the Bonds (upon presentation of the Bonds to be paid, and stamping or otherwise noting thereon of the payment if only partially paid, or surrender thereof if fully paid) in accordance with the provisions of this Indenture, as follows:
Application of Revenues and Other Funds After Default. If an Event of Default shall occur and be continuing, all Revenues and any other funds then held or thereafter received by the Trustee under any of the provisions of this Indenture (subject to Sections 4.07(G), 5.06, 6.06 and 11.11 hereof) shall be promptly applied by the Trustee as follows and in the following order:
(1) To the payment of reasonable fees and expenses of the Trustee in each of its capacities hereunder (including reasonable fees, costs, expenses and disbursements of its counsel) incurred in and about the performance of its powers and duties under this Indenture, the Loan Agreement and any other document related thereto (provided, however, that no moneys in any Letter of Credit Account of the Revenue Fund may be used to pay such expenses) and to the payment of reasonable fees and expenses of the Authority and Authority Indemnified Persons and any other payments due to the Authority in respect of the Retained Rights (including, without limitation, indemnification payments);
(2) To the payment of the principal of and interest then due on the Bonds (upon presentation of the Bonds to be paid, and stamping thereon of the payment if only partially paid, or surrender thereof if fully paid) subject to the provisions of this Indenture (including Section 6.02 hereof), as follows:
(i) Unless the principal of all of the Bonds shall have become or have been declared due and payable, First: To the payment to the Persons entitled thereto of all installments of interest then due in the order of the maturity of such installments, and, if the amount available shall not be sufficient to pay in full any installment or installments maturing on the same date, then to the payment thereof ratably, according to the amounts due thereon, to the Persons entitled thereto, without any discrimination or preference;
Application of Revenues and Other Funds After Default. If an Event of Default shall occur and be continuing, all Revenues and any other funds then held or thereafter received by the Trustee under any of the provisions of this Indenture (subject to Sections 3.04 (relative to the Borrower Account of the Costs of Issuance Fund), 5.05, 6.06 and 11.11 hereof) shall be promptly applied by the Trustee as follows and in the following order:
(1) To the payment of reasonable fees and expenses of the Trustee (including reasonable fees and disbursements of its counsel) incurred in and about the performance of its powers and duties under this Indenture (provided, however, that no moneys in the Revenue Fund may be used to pay such expenses);
(2) To the payment of the principal of and interest then due on the Bonds (upon presentation of the Bonds to be paid, and stamping thereon of the payment if only partially paid, or surrender thereof if fully paid) subject to the provisions of this Indenture (including Section 6.02 hereof), as follows:
(i) Unless the principal of all of the Bonds shall have become or have been declared due and payable,
Application of Revenues and Other Funds After Default. If an Event of Default shall occur and be continuing, any funds then held or thereafter received by the Trustee under any of the provisions of this Indenture shall be applied by the Trustee as follows and in the following order:
(a) To the payment of any expenses necessary in the opinion of the Trustee to protect the interests of the Owners of the Bonds and payment of reasonable fees, charges and expenses of the Trustee (including reasonable fees and disbursements of its counsel) incurred in and about the performance of its powers and duties under this Indenture;
(b) To the payment of the principal of and interest then due on the Bonds (upon presentation of the Bonds to be paid, and stamping or otherwise noting thereon of the payment if only partially paid, or surrender thereof if fully paid) in accordance with the provisions of this Indenture, in the following order of priority:
Application of Revenues and Other Funds After Default. All amounts received by the Authority Trustee pursuant to any right given or action taken by the Authority Trustee under the provisions of this Agreement relating to the Loan and Parity Loans shall be applied by the Authority Trustee in the following order:
(a) first to the payment of all installments of interest on the Loan and Parity Loans then due and unpaid on a pro rata basis based on the total amount then due and owing, and
(b) second, to the payment of all installments of principal of the Loan and Parity Loans then due and unpaid on a pro rata basis based on the total amount then due and owing.
Application of Revenues and Other Funds After Default. Subject to the Senior Loan Agreement, all amounts received by the Trustee pursuant to any right given or action taken by the Trustee under the provisions of Article V of this Loan Agreement, or otherwise held by the Trustee upon the occurrence of an Event of Default, shall be applied by the Trustee in the following order:
(a) first, to the payment of all installments of interest on the Loan and any Parity Debt then due and unpaid, on a pro rata basis in the event that the available amounts are insufficient to pay all such interest in full;
(b) second, to the payment of all installments of principal of the Loan and any Parity Debt then due and payable, on a pro rata basis in the event that the available amounts are insufficient to pay all such principal in full;
(c) third, to the payment of the prepayment price (including principal and interest accrued to the prepayment date, but excluding any premium) of the Loan and any Parity Debt to be redeemed pursuant to this Loan Agreement or Parity Debt Instrument, on a pro rata basis in the event that the available amounts are insufficient to pay all such prepayment price in full; and
(d) fourth, to the payment of interest on overdue installments of principal and interest on the Loan and any Parity Debt, on a pro rata basis in the event that the available amounts are insufficient to pay all such interest in full.
Application of Revenues and Other Funds After Default. All amounts received by the Trustee pursuant to any right given or action taken by the Trustee under the provisions of this Indenture shall be applied by the Trustee in the following order upon presentation of the several Bonds, and the stamping thereon of the amount of the payment if only partially paid, or upon the surrender thereof if fully paid
(a) first, to the payment of all installments of interest on the Bonds then due and unpaid, and unpaid,
(b) second, to the payment of all installments of principal of the Bonds then due
(c) third, to the payment of the redemption price (including principal and interest accrued to the redemption date, but excluding any premium) of the Bonds to be redeemed pursuant to this Indenture, and
(d) fourth, to the payment of interest on overdue installments of principal and interest on the Bonds.
Application of Revenues and Other Funds After Default. If an Event of Default shall occur and be continuing, all Revenues and any other funds then held or thereafter received by the Trustee under any of the provisions of this Indenture (subject to Section 11.10) shall be applied by the Trustee as follows and in the following order:
(a) To the payment of the principal or Redemption Price of and interest then due on the Bonds (upon presentation of the Bonds to be paid, and stamping thereon of the payment if only partially paid, or surrender thereof if fully paid) subject to the provisions of this Indenture (including Section 6.02), as follows:
(i) Unless the principal of all of the Bonds shall have become or have been declared due and payable,
Application of Revenues and Other Funds After Default. All amounts received by the Trustee pursuant to any right given or action taken by the Trustee under the provisions of this Indenture relating to the Bonds and Parity Bonds shall be applied by the Trustee in the following order upon presentation of the several Bonds and Parity Bonds:
(a) first to the payment of all installments of interest on the Bonds and Parity Bonds then due and unpaid on a pro rata basis based on the total amount then due and owing;
(b) second, to the payment of all installments of principal, including Sinking Fund Payments, of the Bonds and Parity Bonds then due and unpaid on a pro rata basis based on the total amount then due and owing; and
(c) third, to the payment of interest on overdue installments of principal and interest on the Bonds and Parity Bonds on a pro rata basis based on the total amount then due and owing.
