Common use of Debt Service Reserve Funds Clause in Contracts

Debt Service Reserve Funds. (a) Except as specifically provided below, the amount in each Debt Service Reserve Fund shall be used solely to cure deficiencies in the amount on deposit in the Related Debt Service Fund that may exist after amounts in the Revenue Stabilization Fund have been exhausted. If there are insufficient funds in a Debt Service Fund to pay the principal of and interest on the Related Series of Bonds when due, then the Trustee shall transfer to such Fund the amount of deficiency first from the Revenue Stabilization Fund as provided in Section 8.3 above and then from the Related Debt Service Reserve Fund.

Debt Service Reserve Funds. (a) Except as specifically provided below, the amount in each Debt Service Reserve Fund shall be used solely to cure deficiencies in the amount on deposit in the each Related Debt Service Fund that may exist after amounts in the Revenue Stabilization Fund have been exhaustedFund. If there are insufficient funds in a the Related Debt Service Fund to pay the principal of and interest on the Related a particular Series of Bonds when due, then the Trustee shall transfer to such Fund the amount of deficiency first from the Revenue Stabilization Fund as provided amount, if any, on deposit in Section 8.3 above and then from the Related Debt Service Reserve Fund to such Debt Service Fund. The Trustee promptly shall notify HRTAC of the transfer.

Debt Service Reserve Funds. (a) Except as specifically provided below, the amount in each Debt Service Reserve Fund shall be used solely to cure deficiencies in the amount on deposit in the Related Debt Service Fund that may exist after amounts in the Revenue Stabilization Fund have been exhaustedFund. If there are insufficient funds in a the Related Debt Service Fund to pay the principal of and interest on the Related a particular Series of Bonds when due, then the Trustee shall transfer to such Fund the amount of deficiency first from the Revenue Stabilization Fund as provided amount, if any, on deposit in Section 8.3 above and then from the Related Debt Service Reserve Fund to such Debt Service Fund. The Trustee promptly shall notify HRTAC of the transfer.

Debt Service Reserve Funds. (a) Except as specifically provided below, the amount in each Debt Service Reserve Fund shall be used solely to cure deficiencies in the amount on deposit in the Related Debt Service Fund that may exist after amounts in the Revenue Stabilization Fund have been exhausted. If there are insufficient funds in a Debt Service Fund to pay the principal of and interest on the Related Series of Bonds when due, then the Trustee shall transfer to such Fund the amount of deficiency first directly from the Revenue Stabilization Fund as provided in Section 8.3 above and then from the Related Debt Service Reserve Fund.