Covenant for the Benefit of the Trustee and Bondholders. The Borrower recognizes the authority of the Issuer to assign its interest in and pledge money receivable under this Loan Agreement (other than certain payments required to be made to the Issuer under Sections 3.2, 4.4, 7.4, 9.5, 10.8, 10.11, 10.12, and 10.13 hereof) to the Trustee as security for the payment of the principal and purchase price of and interest and redemption premiums, if any, on the Subordinate Bonds, and the payment of all fees and expenses of the Trustee, and hereby agrees to be bound by, and joins with the Issuer in the grant of, a security interest to the Trustee in any right and interest the Borrower may have in sums held in the funds described in Article 5 of the Indenture, pursuant to the terms and conditions thereof, to secure payment of the Subordinate Bonds. Each of the terms and provisions of this Loan Agreement is a covenant for the use and benefit of the Trustee and Holders of the Subordinate Bonds, so long as any thereof shall remain Outstanding, but upon payment in full of the Subordinate Bonds in accordance with Article 7 of the Indenture and of all fees and charges of the Trustee and Paying Agent, all references in this Loan Agreement to the Subordinate Bonds, the Holders thereof and the Trustee shall be ineffective, and neither the Trustee nor the Holders of any of the Subordinate Bonds shall thereafter have any rights hereunder, save and except those that shall have theretofore vested or that arise from provisions hereunder which survive termination of this Loan Agreement.
