Debt Service Fund. Monies in the Debt Service Fund shall be held in trust for the Bondholders and, except as otherwise expressly provided herein, shall be used solely for the payment of the interest on the Bonds and for the payment of principal of or premium, if any, on the Bonds upon maturity, whether stated or accelerated, or upon redemption thereof pursuant to Article V hereof. The Issuer hereby authorizes and directs the Trustee, and the Trustee hereby agrees, to withdraw and make available at its designated office sufficient funds (to the extent available) from the Debt Service Fund to pay the principal of, premium, if any, and interest on the Bonds as the same become due and payable, which authorization and direction the Trustee hereby accepts.
Debt Service Fund. The Debt Service Fund or account, or similar fund or account, established by the Indenture to pay Debt Service. The Debt Service Fund shall not include the Debt Service Reserve Fund(s) under the Indenture.
Debt Service Fund. Seven (7) Business Days before each Payment Date, or earlier at the discretion of Issuer, the Issuer shall deposit into the Debt Service Fund an amount equal to the next scheduled debt service payment of interest and/or principal. Such monies will be invested in Eligible Investments by the Trustee pursuant to an Issuer Order pending disbursement on the Payment Date.
Debt Service Fund. (a) The Trustee shall pay out of the Debt Service Fund the principal and Sinking Fund Installments of and interest on all Outstanding Bonds as the same is due and payable. Amounts paid to a Paying Agent for payments pursuant to this Section shall be irrevocably pledged to and applied to such payments.
Debt Service Fund. SECTION 3.3. Return of Monies from Non-Presentment of Bonds.
Debt Service Fund. There is also hereby established with the Bank a separate special fund designated “City of Bel Aire, Kansas Debt Service Fund (Bel Aire Secure Storage, LLC),” which shall be held, invested in Permitted Investments and disbursed by the Bank as hereinafter provided in this Section and in Section 3.1
Debt Service Fund. Funds collected from PID Assessments for debt service payments shall be placed into a separate fund (the “Debt Service Fund”) to pay the City’s annual debt service on the COs. Any remaining amounts after payment of the annual debt service shall remain in the Debt Service Fund, and shall be used to pay the next year’s CO debt obligation.
Debt Service Fund. (a) The Debt Service Fund shall be held by the Trustee for the benefit of the Bonds. The Trustee shall withdraw from the Debt Service Fund, on or prior to each Interest Payment Date, an amount equal to the unpaid interest due on the Bonds on that date and shall cause it to be applied to the payment of such interest when due.
Debt Service Fund. Section 3.3. Return of Moneys from Non-Presentment of Bonds.
Debt Service Fund. The Debt Service Fund (the “Debt Service Fund”) is hereby created, and the Debt Service Fund shall be maintained and accounted for as hereinafter provided, so long as the Series 2022 Note remains outstanding. For purposes of this Section 4.4 and this Agreement, the Corporation’s existing general fund may serve as the Debt Service Fund, unless the Corporation elects to establish a separate Debt Service Fund.
