Common use of Bond Servicing Duties Clause in Contracts

Bond Servicing Duties. As a part of servicing the Bond, RUS shall: (a) serve as principal point of contact for the Borrower with respect to any questions that the Borrower may have about its borrowings from FFB; (b) hold, as agent for FFB, the original Bond in accordance with the terms of section 12.1 hereof; (c) prepare and deliver to the Borrower billing statements, which billing statements shall reflect the terms of the billing statements prepared by FFB and delivered to RUS showing amounts owed with respect to each Advance made under the Bond; (d) collect, as agent for FFB, all amounts paid by the Borrower under the Bond; and (e) turn over to FFB all amounts collected under clause (d) of this section 12.2.2 when and as due under the Bond.

Bond Servicing Duties. As a part of servicing the Bond, RUS shall: : (a) serve as principal point of contact for the Borrower with respect to any questions that the Borrower may have about its borrowings from FFB; ; (b) hold, as agent for FFB, the original Bond in accordance with the terms of section 12.1 hereof; ; (c) prepare and deliver to the Borrower billing statements, which billing statements shall reflect the terms of the billing statements prepared by FFB and delivered to RUS showing amounts owed with respect to each Advance made under the Bond; ; (d) collect, as agent for FFB, all amounts paid by the Borrower under the Bond; and (e) turn over to FFB all amounts collected under clause (d) of this section 12.2.2 when and as due under the Bond.