Credit for Credit Facility Advances. Any payment or provision for payment of principal or premium of or interest on the Bonds from proceeds of a claim made upon a Credit Facility which is a policy of municipal bond insurance shall not be deemed paid by the Borrower and shall not be credited against the obligation of the Borrower hereunder or under the Note, and no credit from any money held under the Bond Indenture from such proceeds shall reduce the amount due from the Borrower hereunder. For any other Credit Facility, the obligation of the Borrower pursuant to this Section and under the Note shall be deemed to be satisfied and discharged to the extent of any corresponding draw or claim by the Trustee under such Credit Facility applied to the payments of principal of (and premium, if any) or interest on Outstanding Bonds, except to the extent of any obligation then owing by the Borrower under the Reimbursement Agreement with the Credit Facility Provider obligated thereon.
Credit for Credit Facility Advances. Any payment or provision for payment of principal or premium of or interest on the Series 2022A Bonds from proceeds of a claim made upon [the Insurance Policy or] a Credit Facility which is a policy of financial guaranty or municipal bond insurance shall not be deemed paid by the Borrower and shall not be credited against the obligation of the Borrower hereunder, and no credit from any money held under the Series 2022A Bond Indenture from such proceeds shall reduce the amount due from the Borrower hereunder. For any other Credit Facility, the obligation of the Borrower pursuant to this Section shall be deemed to be satisfied and discharged to the extent of any corresponding draw or claim by the Bond Trustee or the Paying Agent under such Credit Facility applied to the payments of principal of (and premium, if any) or interest on Outstanding Secured Series 2022A Bonds, except to the extent of any Reimbursement Obligation then owing by the Borrower under such Credit Agreement to the Credit Enhancer obligated thereon.
