Bond Account Sample Clauses

Bond Account. (a) On or prior to the Closing Date for a Series, the Indenture Trustee or other Paying Agent shall open and shall thereafter cause to be maintained, or the Issuer shall cause a Paying agent to open and thereafter to cause to be maintained, one or more accounts (collectively, as to any Series, the "Bond Account") out of which payments on the Bonds of such Series shall be made. Each such account constituting the Bond Account for any Series shall be maintained in such manner and/or with such depository institutions as shall be specified in the related Terms Indenture. The Bond Account for any Series shall relate solely to the Bonds of such Series, and funds in the Bond Account for any Series shall not be commingled with any monies in any other Account. All payments to be made from time to time to the Holders of any Series out of funds in the Bond Account for such Series pursuant to this Indenture shall be made by the Indenture Trustee or other Paying Agent. The Indenture Trustee or such other Paying Agent shall make deposits to and disbursements from the Bond Account for a Series, and shall invest any and all amounts held therein from time to time, as provided in the related Terms Indenture and any applicable Servicing and Administration Agreement. All monies deposited from time to time in the Bond Account for a Series pursuant to this Indenture and all investments made with such monies, including all income or other gain from such investments, shall be held by the Indenture Trustee or other Paying Agent in such Bond Account as part of the Trust Estate for the related Series as herein provided, subject to withdrawal by the Indenture Trustee or such other Paying Agent for the purposes set forth in the related Terms Indenture. The Indenture Trustee or other Paying Agent shall promptly notify the Issuer, the Indenture Trustee (if it is not the Paying Agent), each Rating Agency for the related Series and any other Person required to make deposits to a Bond Account of the location of such Bond Account when first established and prior to any change in such location. (b) Unless the Bonds of a Series have been declared due and payable pursuant to Section 5.02 and distributions from the Trust Estate for such Series are being applied pursuant to Section 5.06, amounts on deposit in the related Bond Account shall be applied, including in respect of payments on the Bonds of such Series, as provided in the related Terms Indenture.
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Bond Account. (a) On or prior to the date hereof, the Indenture Trustee shall establish (and, at all times thereafter, the Indenture Trustee shall maintain) the Bond Account for the Bonds. The Bond Account shall consist solely of one or more Eligible Accounts established and maintained in the name of the Indenture Trustee (in such capacity) and, in each case, bearing a designation clearly indicating that such account and all funds deposited therein are held for the exclusive benefit of the Bondholders and, subject to the lien of this Indenture, the Issuer. The Indenture Trustee shall deposit or cause to be deposited in the Bond Account, upon receipt, (i) any and all amounts in respect of the Mortgage Collateral remitted or advanced under the Servicing and Administration Agreement from time to time and (ii) any amounts required to be deposited by the [General Administrator] in connection with losses incurred with respect to investments of funds held in the Bond Account. Except as provided in this Indenture, the Indenture Trustee, in accordance with the terms of this Indenture, shall have exclusive control and sole right of withdrawal with respect to the Bond Account. Funds in the Bond Account shall not be commingled with any other monies. All monies deposited from time to time in the Bond Account (including any securities or instruments in which such monies are invested) shall be held by and under the control of the Indenture Trustee in the Bond Account for the benefit of the Bondholders and the Issuer as herein provided; provided, however, that all income and gain, if any, from monies or investments on deposit in the Bond Account shall constitute additional compensation for the [General Administrator] and shall be subject to withdrawal at its direction from time to time. Any losses resulting from or arising in connection with investments of funds in the Bond Account shall be for the account of the [General Administrator] (who shall promptly deposit into the Bond Account the amount of any such losses). (b) All of the funds on deposit in the Bond Account may be invested and reinvested by the Indenture Trustee at the written direction of the [General Administrator] in one or more Permitted Investments, subject to the following requirements: (i) such Permitted Investments shall mature not later than one Business Day prior to the next Payment Date; (ii) the securities purchased with the monies in the Bond Account shall be deemed to be funds deposited in the Bond Account; (ii...
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Bond Account. (a) The Issuer hereby directs the Indenture Trustee to establish, at the Corporate Trust Office, one or more accounts that shall collectively be the "Bond Account" on or before the Closing Date. The Indenture Trustee shall promptly deposit in the Bond Account (i) all Remittable Funds received by it from the Servicer pursuant to the Servicing Agreement, (ii) any other funds from any deposits to be made by the Servicer pursuant to the Servicing Agreement, (iii) any amount required to be deposited in the Bond Account pursuant to Section 8.01, and (iv) all other amounts received for deposit in the Bond Account, including the payment of any Purchase Price received by the Indenture Trustee. All amounts that are deposited from time to time in the Bond Account are subject to withdrawal by the Indenture Trustee for the purposes set forth in subsections (c) and (d) of this Section 8.
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Bond Account. (a) On or before the Closing Date, the Issuer shall direct the Trustee in writing to open, at the Corporate Trust Office one or more accounts that shall collectively be the "Bond Account". The Trustee shall promptly deposit in the Bond Account (i) all Remittances received by it from the Servicer pursuant to the Servicing Agreement, (ii) any other funds from any deposits to be made by the Servicer pursuant to the Servicing Agreement, (iii) any amount required to be deposited in the Bond Account pursuant to Section 8.01, (iv) all amounts received pursuant to Section 8.04 and (v) all other amounts received for deposit in the Bond Account. All amounts that are deposited from time to time in the Bond Account, and all investments, if any, made with such moneys shall be held by the Trustee in the Bond Account as part of the Trust Estate as herein provided, subject to withdrawal by the Trustee for the purposes set forth in subsections (c) and (d) of this Section 8.02, except that the Trustee shall be entitled to all income or other gain from such investments. All funds withdrawn from the Bond Account pursuant to subsection (c) of this Section 8.02 for the purpose of making payments to the Holders of Bonds shall be applied in accordance with Section 3.03. (b) So long as no Default or Event of Default shall have occurred and be continuing, all or a portion of the Bond Account may be invested and reinvested by the Trustee at the Trustee's discretion in one or more Eligible Investments bearing interest or sold at discount. The Trust is not required to invest any portion of the Bond Account.
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Bond Account. A Bond Account is hereby established with the Trustee and money shall be deposited therein as provided in this Indenture. Accrued interest received upon the sale of Notes (if so specified by Series Resolution) or Senior Bonds shall be deposited in the Bond Account. Two subaccounts are hereby established in the Bond Account: the Pre-’07 S-1 Senior Subaccount and the Post-’07 S-1
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Bond Account. Article 1 When applying for opening a bond account, Party A shall select at its own discretion a financial institution qualified for settlement agency business as its agent in accordance with relevant provisions, and through such agent, submit to Party B its application for account opening, the power of attorney issued by Party A to such agent for bond settlement as well as other documents deemed by Party B as necessary for account opening (hereinafter referred to as the “account opening documents”). Party A warrants that Party A is lawfully qualified for bond investment; the funds to be used for bond investment is operated or managed by itself and subject to no prohibitions or restrictions relating to bond investment activities imposed by laws and regulations; and all the account opening documents submitted by Party A to Party B are truthful, lawful (compliant) and valid. Article 2 Party B opens a bond account for and in the name of Party A based on the account opening documents submitted by Party A’s agent, and confirms the bond settlement agency relationship between this account and the agent. Upon opening of the bond account, Party B shall issue the “Notice on Bond Account Opening”. Article 3 Party A’s bond account opened with Party B is specifically used to record and reflect the bonds held by Party A and the changes thereof. Party A owns the bond assets and incomes in this account. However, since Party A is not linked to Party B’s bond settlement system, it shall authorize its agent to send a settlement instruction for each transaction to Party B for bond settlement. Both parties acknowledge that the above-mentioned bond account and its balance represent the bonds that meet the written form and document safekeeping requirements imposed by laws and regulations. Meanwhile, the said bond account and balance shall be deemed to meet the original form requirements imposed by laws and regulations. Both parties acknowledge that if Party A pledges the bonds it holds, Party B will record and earmark such bonds as a special item in the bond account of Party A and such bonds are reflected in the pledge subsidiary ledger for the pledgee. Article 4 Party B is obliged to keep Party A’s bond holdings in confidentiality and safe custody. To this end, Party B warrants that it may not disclose Party A’s bond holdings to any entities or individuals other than Party A and Party A’s agent; and that Party B will neither embezzle Party A’s bonds nor accept instructions from...
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Bond Account. (a) The Issuer hereby directs the Indenture Trustee to open, at the Corporate Trust Office one or more accounts that shall collectively be the "Bond Account" on or before the Closing Date. The Indenture Trustee shall promptly deposit in the Bond Account (i) all Remittable Funds received by it from the Servicer pursuant to the Servicing Agreement, (ii) any other funds from any deposits to be made by the Servicer pursuant to the Servicing Agreement, (iii) any amount required to be deposited in the Bond Account pursuant to Section 8.01, (iv) all amounts received pursuant to Section 8.03, and (v) all other amounts received for deposit in the Bond Account. All amounts that are deposited from time to time in the Bond Account, and all investments, if any, made with such moneys shall be held by the Indenture Trustee in the Bond Account as part of the Trust Estate as herein provided, subject to withdrawal by the Indenture Trustee for the purposes set forth in subsections (c) and (d) of this Section 8.
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Bond Account. (a) On or before the Closing Date, the Issuer shall direct the Indenture Trustee in writing to open, at the Corporate Trust Office one or more accounts that shall collectively be the "Bond Account". The Indenture Trustee shall promptly deposit in the Bond Account (i) all Remittable Funds received by it from the Servicer pursuant to the Servicing Agreement, (ii) any other funds from any deposits to be made by the Servicer pursuant to the Servicing Agreement, (iii) any amount required to be deposited in the Bond Account pursuant to Section 8.01, (iv) all amounts received pursuant to Section 8.07, (v) the Closing Date Deposit and (vi) all other amounts received for deposit in the Bond Account. All amounts that are deposited from time to time in the Bond Account, and all investments, if any, made with such moneys shall be held by the Indenture Trustee in the Bond Account as part of the Trust Estate as herein provided, subject to withdrawal by the Indenture Trustee for the purposes set forth in subsections (c) and (d) of this Section 8.02, except that the Issuer shall be entitled to all income or other gain from such investments. All funds withdrawn from the Bond Account pursuant to subsection (c) of this Section 8.02 for the purpose of making payments to the Holders of Bonds shall be applied in accordance with Section 3.03. (b) So long as no Default or Event of Default shall have occurred and be continuing, amounts held in the Bond Account shall be invested in Permitted Investments of the type specified in clause (f) of the definition of Permitted Investments, which Permitted Investments shall mature no later than the Business Day preceding the immediately following Payment Date. All income or other gains, if any, from investment of moneys deposited in the Bond Account shall be withdrawn and paid by the Indenture Trustee to the Issuer immediately upon receipt, and any loss resulting from such investment shall be reimbursed to the Bond Account by the Issuer. Subject to Section 6.01, the Indenture Trustee shall not in any way be held liable by reason of any insufficiency in the Bond Account. (c) Unless the Bonds have been declared due and payable pursuant to Section 5.02 and moneys collected by the Indenture Trustee are being applied in accordance with Section 5.07, amounts on deposit in the Bond Account on any Payment Date or Redemption Date shall be withdrawn from the Bond Account, in the amounts required, for application as follows: on any Payment Date, first...
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Related to Bond Account

  • Collateral Account (a) The Collateral Agent is hereby authorized to establish and maintain at its office at 000 Xxxxxxxxxx Xxxxxxxxx, Xxxxxxxx, Xxxxxxxxxxx 00000, in the name of the Collateral Agent and pursuant to a Control Agreement (to the extent requested), a restricted deposit account designated “Collateral Account”. Each Credit Party shall deposit into the Collateral Account from time to time (i) the cash proceeds of any of the Collateral (including pursuant to any disposition thereof) to the extent contemplated herein or in any other Loan Document, (ii) the cash proceeds of any Casualty Event with respect to Collateral to the extent contemplated herein or in any other Loan Document, and (iii) any cash such Credit Party is required to pledge as additional collateral security hereunder pursuant to the Loan Documents. (b) The balance from time to time in the Collateral Account shall constitute part of the Collateral and shall not constitute payment of the Obligations until applied as hereinafter provided. So long as no Event of Default has occurred and is continuing or will result therefrom, the Collateral Agent shall, within one Business Day’s of receiving a request of the applicable Credit Party for release of cash proceeds constituting (i) Net Cash Proceeds from the Collateral Account, remit such cash proceeds on deposit in the Collateral Account to or upon the order of such Credit Party, so long as such Credit Party has satisfied the conditions relating thereto set forth in Section 9.02, (ii) Net Cash Proceeds from any sale or other disposition of Collateral from the Collateral Account, remit such cash proceeds on deposit in the Collateral Account, so long as such Credit Party has satisfied the conditions relating thereto set forth in Section 9.02 and (iii) with respect to the LC Sub-Account at such time as all Letters of Credit shall have been terminated and all of the liabilities in respect of the Letters of Credit have been paid in full. At any time following the occurrence and during the continuance of an Event of Default, the Collateral Agent may (and, if instructed by the Required Lenders as specified herein, shall) in its (or their) discretion apply and provide notice to Borrower of such application or cause to be applied (subject to collection) the balance from time to time outstanding to the credit of the Collateral Account to the payment of the Obligations in the manner specified in Section 9.03 hereof, subject, however, in the case of amounts deposited in the LC Sub-Account, to the provisions of Sections 2.18(j) and 9.03. The Credit Parties shall have no right to withdraw, transfer or otherwise receive any funds deposited in the Collateral Account except to the extent specifically provided herein. (c) Amounts on deposit in the Collateral Account shall be invested from time to time in Cash Equivalents as the applicable Credit Party (or, after the occurrence and during the continuance of an Event of Default, the Collateral Agent) shall determine, which Cash Equivalents shall be held in the name and be under the control of the Collateral Agent (or any sub-agent); provided that at any time after the occurrence and during the continuance of an Event of Default, the Collateral Agent may (and, if instructed by the Required Lenders as specified herein, shall) in its (or their) discretion at any time and from time to time elect to liquidate any such Cash Equivalents and to apply or cause to be applied the proceeds thereof to the payment of the Obligations in the manner specified in Section 9.03 hereof. (d) Amounts deposited into the Collateral Account as cover for liabilities in respect of Letters of Credit under any provision of this Agreement requiring such cover shall be held by the Collateral Agent in a separate sub-account designated as the “LC Sub-Account” (the “LC Sub-Account”).

  • Certificate Account and Special Payments Account (a) The Trustee shall establish and maintain on behalf of the Certificateholders a Certificate Account as one or more non-interest-bearing accounts. The Trustee shall hold the Certificate Account in trust for the benefit of the Certificateholders, and shall make or permit withdrawals therefrom only as provided in this Agreement. On each day when a Scheduled Payment is made to the Trustee under the Intercreditor Agreement, the Trustee upon receipt thereof shall immediately deposit the aggregate amount of such Scheduled Payment in the Certificate Account. (b) The Trustee shall establish and maintain on behalf of the Certificateholders a Special Payments Account as one or more accounts, which shall be non-interest bearing except as provided in Section 4.

  • Collateral Accounts The Borrower agrees and confirms that (a) pursuant to the Collateral Agency Agreement, it has caused to be established at the Collateral Agent each of the Construction Account, Construction Payment Subaccount, Punchlist Retention Subaccount, the Operating Account, the Debt Service Reserve Account, the Debt Service Accrual Account, the Insurance Proceeds Account, the Income Tax Reserve Account, the Distribution Account and the Revenue Account, in each case in the name of the Collateral Agent and (b) it has instructed (or, on or before the effectiveness of each Project Document that is entered into after the date hereof, will instruct) each of the other parties to the Project Documents that all payments constituting Project Revenues due or to become due to the Borrower under or in connection with each such Project Document shall be made directly to the Collateral Agent for deposit to the Revenue Account in accordance with the terms of the Collateral Agency Agreement. If, notwithstanding the foregoing, any such payment or proceeds are remitted directly to the Borrower, the Borrower shall hold such funds in trust for the Collateral Agent and shall promptly remit such payments for deposit to the Revenue Account in accordance with the Collateral Agency Agreement. In addition to the foregoing, the Borrower agrees that if the proceeds of any Collateral hereunder (including the payments made in respect of the Collateral Accounts) shall be received by it, the Borrower shall as promptly as possible transfer such Proceeds to the Collateral Agent for deposit to the Reserve Account. Until so deposited, all such proceeds shall be held in trust by the Borrower for and as the property of the Collateral Agent and shall not be commingled with any other funds or property of the Borrower.

  • Reserve Account (i) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders. (ii) The Seller may, from time to time after the date hereof, request each Rating Agency to approve a formula for determining the Specified Reserve Balance that is different from the formula set forth herein, which may result in a decrease in the amount of the Specified Reserve Balance or change the manner by which the Reserve Account is funded. Notwithstanding any other provision of this Agreement, if each Rating Agency then rating the Notes notifies the Seller (who shall send such notification to the Trust Collateral Agent) in writing that the use of any such new formula, and any decrease in the amount of the Specified Reserve Balance or change in the manner by which the Reserve Account is funded, will not result in the qualification, reduction or withdrawal of its then current rating of the Notes then the Specified Reserve Balance will be determined in accordance with such new formula and this Agreement will be amended to reflect such new formula without the consent of any Noteholder. (iii) On each Distribution Date, the Servicer shall instruct the Trust Collateral Agent (based on the information contained in the Servicer’s Certificate delivered on the related Determination Date) (A) if the amount on deposit in the Reserve Account (without taking into account any amount on deposit in the Reserve Account representing net investment earnings) is less than the Specified Reserve Balance, in which case the Trust Collateral Agent shall, after payment of any amounts required to be distributed pursuant to clauses (i) through (xviii) of Section 5.7(a) deposit in the Reserve Account the Reserve Account Deposit Amount pursuant to Section 5.7(a)(xix), and (B) if the amount on deposit in the Reserve Account, after giving effect to all other deposits thereto and withdrawals therefrom to be made on such Distribution Date is greater than the Specified Reserve Balance, in which case the Trust Collateral Agent shall distribute the amount of such excess as part of Available Funds on such Distribution Date. (b) On each Distribution Date, the Servicer shall instruct the Trust Collateral Agent (based on the information contained in the Servicer’s Certificate delivered on the related Determination Date) to withdraw the Reserve Account Withdrawal Amount from the Reserve Account and deposit such amounts in the Collection Account to be included as Total Available Funds for that Distribution Date. (c) Amounts properly transferred to the Certificate Distribution Account for payment to the Certificateholder pursuant to this Agreement shall not be available to the Trust Collateral Agent or the Trust for the purpose of making deposits to the Reserve Account, or making payments to the Noteholders, nor shall the Certificateholder be required to refund any amount properly received by them.

  • Disbursement Account 12.1 The Lender is obligated to keep the bank account information provided on the Platform up to date. The account shall be managed by a bank within the Single Euro Payment Area (hereinafter “SEPA”). 12.2 Any transfers by the Borrower to an account held by the Lender within SEPA shall not be subject to any fees.

  • Segregated Account The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of each applicable Portfolio establish and maintain a segregated account or accounts for and on behalf of each such Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in an account by the Custodian pursuant to Section 2.10 hereof, (i) in accordance with the provisions of any agreement among the Fund on behalf of the Portfolio, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered contract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Portfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Portfolio or commodity futures contracts or options thereon purchased or sold by the Portfolio, (iii) for the purposes of compliance by the Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, BUT ONLY, in the case of clause (iv), upon receipt of, in addition to Proper Instructions from the Fund on behalf of the applicable Portfolio, a certified copy of a resolution of the Board of Trustees or of the Executive Committee signed by an officer of the Fund and certified by the Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

  • Special Account For the purposes of this Schedule:

  • Custodial Account Funds in any custodial accounts established by the Servicer and maintained in respect of the REMIC may be invested and, if invested, shall be invested in Eligible Investments selected by the Servicer which shall mature not later than the Business Day immediately preceding the next Remittance Date, and any such Eligible Investment shall not be sold or disposed of prior to its maturity. All such Eligible Investments shall be made in the name of the REMIC or its nominee. All income and gain realized from any such investment shall be, as long as the Servicer is servicing the Mortgage Loans held by the REMIC, for the benefit of the Servicer as additional compensation and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the relevant account by the Servicer out of its own funds immediately as realized. The foregoing requirements for deposit in such account are exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments of interest on funds in such account and, as long as the Servicer is servicing the Mortgage Loans held by the REMIC, payments in the nature of prepayment fees, late payment charges, assumption fees or any similar fees customarily associated with the servicing mortgage loans paid by any mortgagor need not be deposited by the Servicer in such account and may be retained by the Servicer as additional servicing compensation. If the Servicer deposits in such account any amount not required to be deposited therein, it may at any time withdraw such amount, any provision herein to the contrary notwithstanding.

  • Custodial Accounts The Master Servicer shall cause to be established and maintained by each Servicer under the Master Servicer's supervision the Custodial Account for P&I, Buydown Fund Accounts (if any) and special Custodial Account for Reserves and shall deposit or cause to be deposited therein daily the amounts related to the Mortgage Loans required by the Selling and Servicing Contracts to be so deposited. Proceeds received with respect to individual Mortgage Loans from any title, hazard, or FHA insurance policy, VA guaranty, Primary Insurance Policy or other insurance policy covering such Mortgage Loans shall be deposited first in the Custodial Account for Reserves if required for the restoration or repair of the related Mortgaged Property. Proceeds from such insurance policies not so deposited in the Custodial Account for Reserves shall be deposited in the Custodial Account for P&I, and shall be applied to the balances of the related Mortgage Loans as payments of interest and principal. The Master Servicer is hereby authorized to make withdrawals from and to issue drafts against the Custodial Accounts for P&I and the Custodial Accounts for Reserves for the purposes required or permitted by this Agreement. Each Custodial Account for P&I and each Custodial Account for Reserves shall bear a designation clearly showing the respective interests of the applicable Servicer, as trustee, and of the Master Servicer, in substantially one of the following forms: (a) With respect to the Custodial Account for P&I: (i) [Servicer's Name], as agent, trustee and/or bailee of principal and interest custodial account for PNC Mortgage Securities Corp., its successors and assigns, for various owners of interests in PNC Mortgage Securities Corp. mortgage-backed pools or (ii) [Servicer's Name] in trust for PNC Mortgage Securities Corp.; (b) With respect to the Custodial Account for Reserves: (i) [Servicer's Name], as agent, trustee and/or bailee of taxes and insurance custodial account for PNC Mortgage Securities Corp., its successors and assigns for various mortgagors and/or various owners of interests in PNC Mortgage Securities Corp. mortgage-backed pools or (ii) [Servicer's Name] in trust for PNC Mortgage Securities Corp. and various Mortgagors. The Master Servicer hereby undertakes to assure remittance to the Certificate Account of all amounts relating to the Mortgage Loans that have been collected by any Servicer and are due to the Certificate Account pursuant to Section 4.01 of this Agreement.

  • Revenue Account The Borrower and the Security Agent have established with the Securities Intermediary an account entitled the “Stetson Revenue Account” (account number 0000000) (the “Revenue Account”). Except as otherwise set forth in this Agreement, the Borrower shall (and the Borrower shall cause each Project Company to) deposit in the Revenue Account all cash amounts held by or paid to the Borrower (and each Project Company), including without limitation, (i) any and all distributions and other payments to which the Borrower is entitled under the Borrower LLC Agreement, (ii) all Project Revenues paid to the Borrower or any Project Company under any Project Documents or otherwise, (iii) all proceeds of any equity contribution funded by all Affiliated Participants, (iv) all proceeds of any business interruption insurance received by the Borrower or any Project Company or otherwise in respect of the Projects, and (v) transfers from other Collateral Accounts in accordance with this Section 6; provided, however, that (x) all Government Grant proceeds received from the Governmental Authority shall be deposited in the Government Grant Proceeds Account pursuant to Section 6(g), (y) all proceeds of insurance (other than proceeds of business interruption insurance) shall be deposited in the Loss Proceeds Account pursuant to Section 6(f), and (z) all proceeds paid to the Borrower or any Project Company related to the Permitted Transmission Line Transfer shall be deposited in the Gen Lead Account pursuant to Section 6(j). So long as no Event of Default has occurred and is continuing or will occur upon giving effect to the application described below, funds in the Revenue Account shall be applied by internal account transfer by the Securities Intermediary at the direction of the Security Agent and the Borrower, in each case at the following times and in the following order of priority:

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