Common use of DEPOSIT OF FUNDS AND ESCROWED SECURITIES Clause in Contracts

DEPOSIT OF FUNDS AND ESCROWED SECURITIES. Concurrently with the sale and delivery of the Refunding Obligations the Issuer shall deposit, or cause to be deposited, with the Escrow Agent, for deposit in the Escrow Fund, the funds and Escrowed Securities described in the Report for the refunding of the Refunded Obligations, and the Escrow Agent shall, upon the receipt thereof, acknowledge such receipt to the Issuer in writing. The Issuer hereby represents that all of the Escrowed Securities are eligible under the provisions of Chapter 1207 to be deposited in the Escrow Fund, as further dedicated to the payment of the Refunded Obligations as described in the Report.

DEPOSIT OF FUNDS AND ESCROWED SECURITIES. DRAFT Concurrently with the sale and delivery of the Refunding Obligations the Issuer shall deposit, or cause to be deposited, with the Escrow Agent, for deposit in the Escrow Fund, the funds and Escrowed Securities described in the Report for the refunding of the Refunded Obligations, and the Escrow Agent shall, upon the receipt thereof, acknowledge such receipt to the Issuer in writing. The Issuer hereby represents that all of the Escrowed Securities are eligible under the provisions of Chapter 1207 to be deposited in the Escrow Fund, as further dedicated to the payment of the Refunded Obligations as described in the Report.