AUTHORITY ANNUITY AMOUNT PAYMENT ACCOUNT. 8.5.1 The Authority shall establish and maintain the Authority Annuity Amount Payment Account as soon as possible after signing of this Agreement and until the Expiry Date. The Authority Annuity Amount Payment shall be an escrow account.
8.5.2 The Authority shall issue irrevocable standing instructions to the Authority Annuity Amount Payment Account Bank (in form and substance agreed between the Parties) (the Authority Annuity Amount Payment Account Standing Instructions) containing, inter alia, instructions to the Authority Annuity Amount Payment Account Bank:
(a) to debit the Authority Annuity Amount Payment Account on each Annuity Amount Payment Date (upon receipt of an Annuity Amount Payment Certificate relating to such Annuity Amount Payment Date) in an amount equal to the Payable Annuity Amount Payment and credit the same to the Operator Annuity Amount Payment Account;
(b) in the event of Termination of this Agreement, to debit the Authority Annuity Amount Payment Account in an amount equal to the Unpaid Termination Payment Amount and credit the same to the Operator Annuity Amount Payment Account, in accordance with Article 17 below.
AUTHORITY ANNUITY AMOUNT PAYMENT ACCOUNT. 10.5.1 The Authority shall establish and maintain the Authority Annuity Amount Payment Account as soon as possible after signing of this Agreement and until the Expiry Date.
10.5.2 The Authority shall issue irrevocable standing instructions to the Authority Annuity Amount Payment Account Bank (in form and substance agreed between the Parties) (the Authority Annuity Amount Payment Account Standing Instructions) containing, inter alia, instructions to the Authority Annuity Amount Payment Account Bank:
(a) to debit the Authority Annuity Amount Payment Account on each Annuity Amount Payment Date (upon receipt of an Annuity Amount Payment Certificate relating to such Annuity Amount Payment Date) in an amount equal to the Payable Annuity Amount Payment and credit the same to the Operations Account; and
(b) in the event of Termination of this Agreement, to debit all the funds standing to the credit of the Authority Annuity Amount Payment Account and credit the same to the designated account of the Authority.
10.5.3 The Authority Annuity Amount Payment Account Standing Instructions issued by the Authority shall be irrevocable and shall remain effective, in each case, until the Expiry Date, and no withdrawal from the Authority Annuity Amount Payment Account may be made by the Authority, except as provided in this Agreement.
10.5.4 The Authority Annuity Amount Payment Account Standing Instructions (or any part thereof) issued by the Authority may be revoked pursuant to a written revocation notice duly executed and confirmed by the Parties.
10.5.5 The Authority Annuity Amount Payment Account shall be strictly operated and maintained in accordance with the Authority Annuity Amount Payment Account Standing Instructions. Further, the Authority hereby undertakes and covenants with the Manager that it shall not create, incur, permit, assume or suffer to exist any encumbrance whatsoever upon or with respect to the Authority Annuity Amount Payment Account.
10.5.6 The Authority shall fund the Authority Annuity Amount Payment Account in an amount equal to the Annuity Payment Account Funding Amount on each Annuity Amount Payment Account Funding Date until the Expiry Date.
AUTHORITY ANNUITY AMOUNT PAYMENT ACCOUNT. 8.5.1 The Authority shall establish and maintain the Authority Annuity Amount Payment Account as soon as possible after signing of this Agreement and until the Expiry Date or on the disbursement of the last Annuity Amount Payment Certificate issued by IA. The Authority Annuity Amount Payment shall be an escrow account.
