Common use of Bond Account Clause in Contracts

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.

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 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.