Common use of AUTHORITY ANNUITY AMOUNT PAYMENT ACCOUNT Clause in Contracts

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. 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 DateDate or on the disbursement of the last Annuity Amount Payment Certificate issued by IA. 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. 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 DateDate or on the disbursement of the last Annuity Amount Payment Certificate issued by the Independent Auditor. The Authority Annuity Amount Payment shall be an escrow accountEscrow 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 the provision of Article 17 below17.