Common use of Deposit of Money or Securities with Trustee Clause in Contracts

Deposit of Money or Securities with Trustee. Whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held shall be Eligible Funds (or Government Obligations purchased with Eligible Funds) consisting of: (a) lawful money of the United States of America in an amount equal to the principal amount of such Bonds and all unpaid interest thereon to maturity, except that, in the case of Bonds which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has been duly given or provision satisfactory to the Trustee shall be made for such notice, the amount so to be deposited or held shall be the principal amount of such Bonds and interest thereon to the redemption date, together with the redemption premium, if any; or (b) noncallable and nonprepayable direct obligations of the United States of America or noncallable and nonprepayable obligations which as to principal and interest constitute full faith and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, will provide funds sufficient, in the opinion of a nationally recognized firm of certified public accountants, to pay the principal, premium, if any, and interest to maturity, or to the redemption date, as the case may be, with respect to all of the Bonds to be paid or redeemed, as such principal, premium and interest become due; provided that the Trustee shall have been irrevocably instructed by the Issuer to apply the proceeds of said obligations to the payment of said principal, premium, if any, and interest with respect to such Bonds.

Deposit of Money or Securities with Trustee. Whenever During the Fixed Rate Period, whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held shall be Eligible Funds (cash or Government Obligations, which Government Obligations purchased with Eligible Funds) consisting of: (a) lawful money of the United States of America in an amount equal shall be noncallable and not subject to prepayment, the principal amount of such Bonds and all unpaid interest thereon to maturity, except that, in the case of Bonds which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has been duly given or provision satisfactory to the Trustee shall be made for such notice, the amount so to be deposited or held shall be the principal amount of such Bonds and interest thereon to the redemption date, together with the redemption premium, if any; or (b) noncallable and nonprepayable direct obligations of the United States of America or noncallable and nonprepayable obligations on which as to principal and interest constitute full faith and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, when due will provide funds sufficient, in the opinion of a nationally recognized firm of certified public accountants, money sufficient to pay the principalprincipal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, with respect to all of on the Bonds to be paid or redeemed, as such principal, premium premium, if any, and interest become due, provided that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided provided, in each case, that the Trustee shall have been irrevocably instructed (by Request of the Issuer Board) to apply the proceeds of said obligations such money to the payment of said principalsuch principal and interest with respect to such Bonds. Whenever Government Obligations are deposited with the Trustee in accordance with Section 11.03 hereof, the Company shall provide to the Trustee and the Rating Agency: (i) a verification report from an independent public accountant, satisfactory in form and content to the Trustee, demonstrating that the Government Obligations so deposited and the income therefore shall be sufficient to pay the principal of, premium, if any, and all unpaid interest with respect to maturity, or to the redemption date, as the case may be, on the Bonds to be paid or redeemed, as such Bondsprincipal or premium, if any, and interest become due; and (ii) an opinion acceptable to the Rating Agency, of nationally recognized bankruptcy counsel, to the effect that the provision for payment of the Bonds contemplated to be made pursuant to this Section 11.03 will not constitute or result in such payments constituting voidable preferences under Section 547 of the Bankruptcy Code.

Deposit of Money or Securities with Trustee. Whenever During the Fixed Rate Period, whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held shall be Eligible Funds cash or Investment Securities described in clauses (i) or Government Obligations purchased with Eligible Funds(ii) consisting of: (a) lawful money of the United States of America definition thereof in an amount equal Section 1.01 hereof, which Investment Securities shall be noncallable and not subject to prepayment, the principal amount of such Bonds and all unpaid interest thereon to maturity, except that, in the case of Bonds which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has been duly given or provision satisfactory to the Trustee shall be made for such notice, the amount so to be deposited or held shall be the principal amount of such Bonds and interest thereon to the redemption date, together with the redemption premium, if any; or (b) noncallable and nonprepayable direct obligations of the United States of America or noncallable and nonprepayable obligations on which as to principal and interest constitute full faith and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, when due will provide funds sufficient, in the opinion of a nationally recognized firm of certified public accountants, money sufficient to pay the principalprincipal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, with respect to all of on the Bonds to be paid or redeemed, as such principal, premium premium, if any, and interest become due; , provided that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice, provided, in each case, that the Trustee shall have been irrevocably instructed (by request of the Issuer Company) to apply the proceeds of said obligations such money to the payment of said such principal and interest with respect to such Bonds. Whenever Investment Securities are deposited with the Trustee in accordance with this Section 11.03, the Company shall provide to the Trustee and the Rating Agency (a) a verification report from an Accountant, satisfactory in form and content to the Trustee, demonstrating that the Investment Securities so deposited and the income thereon shall be sufficient to pay the principal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, on the Bonds to be paid or redeemed, as such principal, premium, if any, and interest with respect become due and (b) an opinion acceptable to the Rating Agency, of nationally recognized bankruptcy counsel, to the effect that the provision for payment of the Bonds contemplated to be made pursuant to this Section 11.03 will not constitute or result in such Bondspayments constituting voidable preferences under Section 547 of the Bankruptcy Code.

Deposit of Money or Securities with Trustee. Whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any BondsAuthority Notes, the money or securities so to be deposited or held may include money or securities held by the Trustee in the funds and accounts established pursuant to this Indenture (exclusive of the Rebate Fund, the Letter of Credit Account, and the Borrower Account of the Costs of Issuance Fund and the account described in Section 4.07(g) hereof) and shall be Eligible Funds (or Government Obligations purchased with Eligible Funds) consisting ofbe: (a) lawful money Moneys (which shall be Available Moneys if an Alternate Letter of the United States of America Credit is in effect) in an equal amount equal to the principal amount of such Bonds Authority Notes, and all unpaid interest thereon to maturity, maturity except that, in the case of Bonds Authority Notes which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has shall have been duly given as in Article IV provided or provision satisfactory to the Trustee shall be have been made for the giving of such notice, the amount so to be deposited or held shall be the principal amount or redemption price of such Bonds Authority Notes and all unpaid interest thereon to the redemption date, together with the redemption premium, if any; or (b) noncallable and nonprepayable direct obligations Investment Securities of the United States type described in clause (ii) (including funds described in clause (v) rated Fitch “AAA” or equivalent which consist solely of America or noncallable securities described in clause (ii)) of the definition of Investment Securities which are purchased with moneys (Available Moneys if an Alternate Letter of Credit is in effect) and nonprepayable obligations which as to are nonredeemable and noncallable, the principal of and interest constitute full faith on which when due and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, reinvestment will provide funds sufficient, in the opinion of a nationally recognized firm of certified public accountants, money sufficient to pay the principalprincipal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as on the case may be, with respect to all of the Bonds Authority Notes to be paid or redeemed, as such principal, premium *principal and interest become due, with maturities no longer than 30 days or as may be necessary to make the required payment on the Authority Notes provided that, in the case of Authority Notes which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as in Article IV provided or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided provided, in each case, that the Trustee shall have been irrevocably instructed (by the Issuer terms of this Indenture or by Request of the Authority) to apply the proceeds of said obligations such money or Investment Securities to the payment of said such principal, premium, if any, and interest with respect to such BondsAuthority Notes and provided further that each Rating Agency then rating such Authority Notes, the Authority and the Trustee shall have received a report of an Accountant that the moneys or Investment Securities on deposit are sufficient to pay the principal, premium, if any, and interest on the Authority Notes to maturity or the redemption date, and a legal opinion from a nationally recognized firm in bankruptcy law that payment of the Authority Notes from such moneys will not be a voidable preference in the event of the bankruptcy of the Borrower, any Guarantor or the Authority.

Deposit of Money or Securities with Trustee. Whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities Defeasance Obligations in the necessary amount to pay or redeem any Bonds, the money or securities Defeasance Obligations so to be deposited or held may include money or Defeasance Obligations held by the Trustee in the funds and accounts established pursuant to this Indenture and shall be Eligible Funds (or Government Obligations purchased with Eligible Funds) consisting ofbe: (a) lawful money of the United States of America in an amount equal to the principal amount of such Bonds and all unpaid interest thereon to maturity, except that, in the case of Bonds which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has shall have been duly given as in Article IV provided or provision satisfactory to the Trustee shall be have been made for the giving of such notice, the amount so to be deposited or held shall be the principal amount or Redemption Price of such Bonds and all unpaid interest thereon to the redemption date, together with the redemption premium, if any; or (b) noncallable and nonprepayable direct obligations Defeasance Obligations the principal of the United States of America or noncallable and nonprepayable obligations which as to principal and interest constitute full faith and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, on which when due will provide funds money sufficient, in the opinion of a nationally recognized firm of certified public accountantsan Independent Accountant, to pay the principal, premium, if any, principal or Redemption Price of and all unpaid interest to maturity, or to the redemption date, as the case may be, with respect to all of on the Bonds to be paid or redeemed, as such principal, premium principal or Redemption Price and interest become due, provided that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as in Article IV provided or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided provided, in each case, that the Trustee shall have been irrevocably instructed (by the Issuer terms of this Indenture or by Request of the Authority) to apply the proceeds of said obligations such money to the payment of said principal, premium, if any, such principal or Redemption Price and interest with respect to such Bonds. The Bonds shall be deemed Outstanding under this Indenture unless and until they are in fact paid and retired or the above criteria are met.

Deposit of Money or Securities with Trustee. Whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held may include money or securities held by the Trustee in the funds and accounts established pursuant to this Indenture (exclusive of the Rebate Fund and the Borrower Account of the Costs of Issuance Fund) and shall be Eligible Funds (or Government Obligations purchased with Eligible Funds) consisting ofbe: (a) lawful money of the United States of America Moneys in an equal amount equal to the principal amount of such Bonds Bonds, and all unpaid interest thereon to maturity, maturity except that, in the case of Bonds which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has shall have been duly given as in Article IV provided or provision satisfactory to the Trustee shall be have been made for the giving of such notice, the amount so to be deposited or held shall be the principal amount or redemption price of such Bonds and all unpaid interest thereon to the redemption date, together with the redemption premium, if any; or (b) noncallable and nonprepayable direct obligations Investment Securities of the United States type described in clause (i) (including funds described in clause (iv)(i) rated Fitch/S&P “AAA” or equivalent which consist solely of America or noncallable securities described in clause (i)) of the definition of Investment Securities which are nonredeemable and nonprepayable obligations which as to noncallable, the principal of and interest constitute full faith on which when due and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, reinvestment will provide funds sufficient, in the opinion of a nationally recognized firm of certified public accountants, money sufficient to pay the principalprincipal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, with respect to all of on the Bonds to be paid or redeemed, as such principal, premium principal and interest become due, with maturities no longer than as may be necessary to make the required payment on the Bonds provided that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as in Article IV provided or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided provided, in each case, that the Trustee shall have been irrevocably instructed (by the Issuer terms of this Indenture or by Request of the Authority) to apply the proceeds of said obligations such money or Investment Securities to the payment of said such principal, premium, if any, and interest with respect to such Bonds and provided further that each Rating Agency then rating such Bonds, the Authority and the Trustee shall have received a report of an Accountant that the moneys or Investment Securities on deposit are sufficient to pay the principal, premium, if any, and interest on the Bonds to maturity or the redemption date.

Deposit of Money or Securities with Trustee. Whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held may include money or securities held by the Trustee in the funds and accounts established pursuant to this Indenture (exclusive of the Rebate Fund) and shall be Eligible Funds (or Government Obligations purchased with Eligible Funds) consisting ofbe: (a) lawful money of the United States of America in an amount equal to the principal amount of such Bonds and all unpaid interest thereon to maturity, except that, in the case of Bonds which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has shall have been duly given as in Article IV provided or provision satisfactory to the Trustee shall be have been made for the giving of such notice, the amount so to be deposited or held shall be the principal amount or Redemption Price of such Bonds and all unpaid interest thereon to the redemption date, together with the redemption premium, if any; or (b) noncallable and nonprepayable direct obligations Investment Securities described in clause (a) of the United States definition thereof in Section 1.01 (not callable by the issuer thereof prior to maturity) the principal of America or noncallable and nonprepayable obligations which as to principal and interest constitute full faith and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, on which when due will provide funds money sufficient, in the opinion of a nationally recognized firm of as verified by an independent certified public accountantsaccountant, to pay the principal, premium, if any, principal or Redemption Price of and all unpaid interest to maturity, or to the redemption date, as the case may be, with respect to all of on the Bonds to be paid or redeemed, as such principal, premium principal or Redemption Price and interest become due, provided that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as in Article IV provided or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided provided, in each case, that the Trustee shall have been irrevocably instructed (by the Issuer terms of this Indenture or by Request of the Authority) to apply the proceeds of said obligations such money to the payment of said principal, premium, if any, such principal or Redemption Price and interest with respect to such Bonds.

Deposit of Money or Securities with Trustee. Whenever in this Indenture Agreement or the Installment Purchase Agreement it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay or redeem prepay any BondsCertificates, the money or securities so to be so deposited or held may include money or securities held by the Trustee in the funds and accounts established pursuant to this Agreement and shall be Eligible Funds (or Government Obligations purchased with Eligible Funds) consisting ofbe: (a) lawful money of the United States of America in an amount equal to the principal amount of such Bonds and all unpaid interest thereon represented by such Certificates to maturity, except that, in the case of Bonds Certificates which are to be redeemed prepaid prior to maturity and in respect of which there notice of such prepayment shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has been duly given as in Article IV provided or provision satisfactory to the Trustee shall be have been made for the giving of such notice, the amount so to be deposited or held shall be the principal amount or Prepayment Price and all unpaid interest to such date of such Bonds and interest thereon to the redemption date, together with the redemption premiumprepayment, if any, represented by such Certificates; or (b) noncallable and nonprepayable direct obligations non-callable securities described in clause (A) of the United States definition of America or noncallable and nonprepayable obligations Permitted Investments which as to principal and interest constitute full faith and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, will provide funds sufficient, in the opinion of a nationally recognized firm of certified public accountants, money sufficient to pay the principal, premium, if any, and principal at maturity or upon prepayment plus all accrued interest to maturity, maturity or to the redemption prepayment date, as the case may be, with respect to all of the Bonds represented by such Certificates to be paid or redeemedprepaid, as such principal, premium and interest amounts become due, be the principal amount or Prepayment Price and all unpaid interest to such date of prepayment, if any, represented by such Certificates, provided that, in the case of Certificates which are to be prepaid prior to the maturity thereof, notice of such prepayment shall have been given as in Article IV provided or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided provided, in each case, that the Trustee shall have been irrevocably instructed (by the Issuer terms of this Agreement and the Installment Purchase Agreement or by Written Request of the District) to apply the proceeds of said obligations such money or securities to the payment of said such principal, premiumPrepayment Price and interest represented by such Certificates. In addition to the foregoing, no deposit described in Section 10.2(b) shall be deemed a payment of said Certificate until the District has delivered to the Trustee a report of an Independent Certified Public Accountant verifying the sufficiency of the amounts, if any, and interest with respect described in Section 10.2(b) to ensure payment of such BondsCertificate.

Deposit of Money or Securities with Trustee. Whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held shall be Eligible Funds (or Government Obligations purchased with Eligible Funds) consisting ofconstituting: (a) lawful money of the United States of America in an amount equal to the principal amount of such Bonds and all unpaid interest thereon to maturity, except that, in the case of Bonds which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has been duly given or provision satisfactory to the Trustee shall be made for such notice, the amount so to be deposited or held shall be the principal amount of such Bonds and interest thereon to the redemption date, together with the redemption premium, if any; or (b) noncallable and nonprepayable direct obligations of the United States of America or noncallable and nonprepayable obligations which as to principal and interest constitute full faith and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, will provide funds sufficient, in the opinion of a nationally recognized firm of certified public accountants, to pay the principal, premium, if any, and interest to maturity, or to the redemption date, as the case may be, with respect to all of the Bonds to be paid or redeemed, as such principal, premium and interest become due; provided that the Trustee shall have been irrevocably instructed by the Issuer to apply the proceeds of said obligations to the payment of said principal, premium, if any, and interest with respect to such Bonds.

Deposit of Money or Securities with Trustee. Whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held shall be Eligible Funds (cash or Government Obligations, which Government Obligations purchased with Eligible Funds) consisting of: (a) lawful money of the United States of America in an amount equal shall be noncallable and not subject to prepayment, the principal amount of such Bonds and all unpaid interest thereon to maturity, except that, in the case of Bonds which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has been duly given or provision satisfactory to the Trustee shall be made for such notice, the amount so to be deposited or held shall be the principal amount of such Bonds and interest thereon to the redemption date, together with the redemption premium, if any; or (b) noncallable and nonprepayable direct obligations of the United States of America or noncallable and nonprepayable obligations on which as to principal and interest constitute full faith and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, when due will provide funds sufficient, in the opinion of a nationally recognized firm of certified public accountants, money sufficient to pay the principalprincipal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, with respect to all of on the Bonds to be paid or redeemed, as such principal, premium premium, if any, and interest become due; , provided that that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided, in each case, that the Truste shall have been irrevocably instructed (by request of the Issuer Company) to apply the proceeds of said obligations such money to the payment of said such principal, premium and interest with respect to such Bonds. Whenever Government Obligations are deposited with the Trustee in accordance with Section 11.03 hereof, the Company shall provide to the Trustee and the Rating Agency (i) a verification report from an Accountant, satisfactory in form and content to the Trustee, demonstrating that the Government Obligations so deposited and the income therefor shall be sufficient to pay the principal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, on the Bonds to be paid or redeemed, as such principal, premium, if any, and interest with respect become due and (ii) an opinion acceptable to the Rating Agency and the Trustee, and addressed to the Trustee, of nationally recognized bankruptcy counsel, to the effect that the provision for payment of the Bonds contemplated to be made pursuant to this Section 11.03 will not constitute or result in such Bondspayments' constituting voidable preferences under Section 547 of the Bankruptcy Code.

Deposit of Money or Securities with Trustee. Whenever During the Fixed Rate Period, whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held shall be Eligible Funds (cash or Government Obligations, which Government Obligations purchased with Eligible Funds) consisting of: (a) lawful money of the United States of America in an amount equal shall be noncallable and not subject to prepayment, the principal amount of such Bonds and all unpaid interest thereon to maturity, except that, in the case of Bonds which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has been duly given or provision satisfactory to the Trustee shall be made for such notice, the amount so to be deposited or held shall be the principal amount of such Bonds and interest thereon to the redemption date, together with the redemption premium, if any; or (b) noncallable and nonprepayable direct obligations of the United States of America or noncallable and nonprepayable obligations on which as to principal and interest constitute full faith and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, when due will provide funds sufficient, in the opinion of a nationally recognized firm of certified public accountants, money sufficient to pay the principalprincipal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, with respect to all of on the Bonds to be paid or redeemed, as such principal, premium premium, if any, and interest become due, provided that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided provided, in each case, that the Trustee shall have been irrevocably instructed (by Request of the Issuer Authority) to apply the proceeds of said obligations such money to the payment of said principalsuch principal and interest with respect to such Bonds. Whenever Government Obligations are deposited with the Trustee in accordance with Section 11.03 hereof, the Company shall provide to the Trustee and the Rating Agency: (i) a verification report from an independent public accountant, satisfactory in form and content to the Trustee, demonstrating that the Government Obligations so deposited and the income therefore shall be sufficient to pay the principal of, premium, if any, and all unpaid interest with respect to maturity, or to the redemption date, as the case may be, on the Bonds to be paid or redeemed, as such Bondsprincipal or premium, if any, and interest become due; and (ii) an opinion acceptable to the Rating Agency, of nationally recognized bankruptcy counsel, to the effect that the provision for payment of the Bonds contemplated to be made pursuant to this Section 11.03 will not constitute or result in such payments constituting voidable preferences under Section 547 of the Bankruptcy Code.

Deposit of Money or Securities with Trustee. Whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held may include money or securities held by the Trustee in the funds and accounts established pursuant to this Indenture (exclusive of the Rebate Fund, any Letter of Credit Account and the account described in Section 4.07(G) hereof) and shall be Eligible Funds (or Government Obligations purchased with Eligible Funds) consisting ofbe: (a) lawful money moneys (which shall be Available Moneys if a Letter of the United States of America Credit is in effect) in an equal amount equal to the principal amount of such Bonds Bonds, and all unpaid interest thereon to maturity, maturity except that, in the case of Bonds which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has shall have been duly given as in Article IV provided or provision satisfactory to the Trustee shall be have been made for the giving of such notice, the amount so to be deposited or held shall be the principal amount or redemption price of such Bonds and all unpaid interest thereon to the redemption date, together with the redemption premium, if any; or (b) noncallable and nonprepayable direct obligations Investment Securities of the United States type described in clause (ii) of America the definition of Investment Securities (including funds described in clause (v) rated S&P’s “AAA” or noncallable equivalent which consist solely of securities described in clause (ii)) which are purchased with moneys (Available Moneys if a Letter of Credit is in effect) and nonprepayable obligations which as to are nonredeemable and noncallable, the principal of and interest constitute full faith on which when due and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, reinvestment will provide funds sufficient, in the opinion of a nationally recognized firm of certified public accountants, money sufficient to pay the principalprincipal or Purchase Price of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, with respect to all of on the Bonds to be paid or redeemed, as such principal, premium principal and interest become due, with maturities no longer than 30 days or as may be necessary to make the required payment on the Bonds provided that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as in Article IV provided or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided provided, in each case, that the Trustee shall have been irrevocably instructed (by the Issuer terms of this Indenture or by Request of the Authority) to apply the proceeds of said obligations such moneys or Investment Securities to the payment of said such principal, premium, if any, and interest with respect to such Bonds and provided further that each Rating Agency then rating such Bonds, the Authority and the Trustee shall have received a report of an Accountant that the moneys or Investment Securities on deposit are sufficient to pay the principal, premium, if any, and interest on the Bonds to maturity or the redemption date, and, if a Letter of Credit is in effect, a legal opinion from a nationally recognized firm in bankruptcy law selected by the Authority that payment of the Bonds from such moneys will not be a voidable preference in the event of the bankruptcy of the Borrower, the Guarantor or the Authority.

Deposit of Money or Securities with Trustee. Whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held may include money or securities held by the Trustee in the funds and accounts established pursuant to this Indenture and shall be Eligible Funds (or Government Obligations purchased with Eligible Funds) consisting ofbe: (a) Available amounts constituting lawful money of the United States of America in an amount equal to the principal amount of such Bonds and all unpaid interest thereon to maturity, except that, in the case of Bonds which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has shall have been duly given as provided in Article IV or provision satisfactory to the Trustee shall be have been made for the giving of such notice, the amount so to be deposited or held shall be the principal amount or redemption price of such Bonds and all unpaid interest thereon to the redemption date, together with the redemption premium, if any; or (b) nonprepayable, noncallable Government Obligations, the principal of and nonprepayable direct obligations of the United States of America or noncallable and nonprepayable obligations interest on which as to principal and interest constitute full faith and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, when due will provide funds sufficient, in the opinion of a nationally recognized firm of certified public accountants, money sufficient to pay the principal, premium, if any, principal or redemption price of and all unpaid interest to maturity, or to the redemption date, as the case may be, with respect to all of on the Bonds to be paid or redeemed, as such principal, premium principal or redemption price and interest become due, provided that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided provided, in each case, that the Trustee shall have been irrevocably instructed (by the Issuer terms of this Indenture or by Written Request of the Authority) to apply the proceeds of said obligations such money to the payment of said principal, premium, if any, such principal or redemption price and interest with respect to such Bonds.

Deposit of Money or Securities with Trustee. Whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held may include money or securities held by the Trustee in the funds and accounts established pursuant to this Indenture (exclusive of the Rebate Fund, the Letter of Credit Account, and the account described in Section 4.7(G) hereof) and shall be Eligible Funds (or Government Obligations purchased with Eligible Funds) consisting any combination of: (aA) lawful money moneys (Available Moneys when a Letter of the United States of America Credit is then in effect) in an equal amount equal to the principal amount of such Bonds Bonds, and all unpaid interest thereon to maturity, maturity except that, in the case of Bonds which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has shall have been duly given as provided in Article IV or provision satisfactory to the Trustee shall be have been made for the giving of such notice, the amount so to be deposited or held shall be the principal amount or redemption price of such Bonds and all unpaid interest thereon to the redemption date, together with the redemption premium, if any; or (bB) noncallable and nonprepayable direct Government Obligations or bonds, notes or other obligations of any state of the United States or any political subdivision of America any state, which are rated by S&P as “AAA” or noncallable and nonprepayable obligations its equivalent, and, when a Letter of Credit is then in effect, which as to are purchased with Available Moneys, the principal of and interest constitute full faith on which when due and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, reinvestment will provide funds sufficient, in the opinion of a nationally recognized firm of certified public accountants, money sufficient to pay the principalprincipal of, premium, if any, and all unpaid interest to maturity, maturity or to the redemption date, as the case may be, with respect to all of date on the Bonds to be paid or redeemed, as such principal, premium principal and interest become due, with maturities no longer than 30 days or as may be necessary to make the required payment on the Bonds, provided that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided provided, in each case, that the Trustee shall have been irrevocably instructed (by the Issuer terms of this Indenture or by written request of the Authority) to apply the proceeds of said obligations such money or securities to the payment of said such principal, premium, if any, and interest with respect to such BondsBonds and provided further that each Rating Agency then rating such Bonds and the Trustee shall have received a report of an Accountant that the moneys or Investment Securities on deposit are sufficient to pay the principal, premium, if any, and interest on the Bonds to maturity or the redemption date, and, if a Letter of Credit is then in effect, a legal opinion from a nationally recognized firm in bankruptcy law that payment of the Bonds from such moneys will not be a voidable preference in the event of the bankruptcy of the Borrower or the Authority.

Deposit of Money or Securities with Trustee. Whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any BondsNotes, the money or securities so to be deposited or held may include money or securities held by Trustee in the funds and accounts established pursuant to this Indenture (exclusive of the Note Fund, the Purchase Fund and the Letter of Credit Account) and shall be Eligible Funds (or Government Obligations purchased with Eligible Funds) consisting ofbe: (a) lawful money of the United States of America Available Moneys in an amount equal to the principal amount of such Bonds and Notes, all unpaid interest thereon to maturity, and the purchase price of such Notes except that, in the case of Bonds Notes which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has shall have been duly given as in Article IV hereof provided or provision satisfactory to the Trustee shall be have been made for the giving of such notice, the amount so to be deposited or held shall be the principal amount redemption price of such Bonds Notes and all unpaid interest thereon to the redemption date, together with the redemption premium, if any; or (b) noncallable and nonprepayable direct obligations of the United States of America or noncallable and nonprepayable obligations Government Obligations purchased with Available Moneys which as to principal and interest constitute full faith and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, when due will provide funds sufficient, money sufficient in the opinion of a nationally recognized firm of certified public accountantsan Accountant delivered to Trustee and Credit Issuer, at Borrower’s expense, to pay the principalprincipal or redemption price, premiumas applicable, if anyof, and all unpaid interest to maturity, or to the redemption date, as the case may be, with respect to all of on the Bonds Notes to be paid or redeemed, as such principal, premium principal and interest become due, and the purchase price of such Notes; provided that, in the case of Notes which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article IV hereof or provision satisfactory to Trustee shall have been made for the giving of such notice; and provided further that Government Obligations purchased pursuant to this paragraph shall not be subject to redemption prior to their maturity other than at the option of the holder thereof unless the moneys to be available from the redemption of such securities on the earliest date on which such securities are subject to redemption, other than at the option of the holder thereof, shall be at least equal to the amount of money expected to be derived in connection with such securities in determining that the provisions of this paragraph have been satisfied; provided, in each case, that Trustee shall have been irrevocably instructed (by the Issuer terms of this Indenture or by Request of Borrower) to apply the proceeds of said obligations such money to the payment of said principalsuch principal or redemption price, premium, if anyas applicable, and interest with respect to such BondsNotes.

Deposit of Money or Securities with Trustee. Whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay any Notes or redeem any BondsParity Debt, the money or securities so to be deposited or held may include money or securities held by the Trustee in the funds and accounts established pursuant to this Indenture and shall be Eligible Funds (or Government Obligations purchased with Eligible Funds) consisting ofbe: (a) lawful money of the United States of America in an amount equal to the principal amount of such Bonds Notes or Parity Debt and all unpaid interest thereon to maturity, except that, in the case of Bonds which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has been duly given or provision satisfactory to the Trustee shall be made for such notice, the amount so to be deposited or held shall be the principal amount of such Bonds and interest thereon to the redemption date, together with the redemption premium, if any; or (b) noncallable and nonprepayable direct obligations Defeasance Securities the principal of the United States of America or noncallable and nonprepayable obligations which as to principal and interest constitute full faith and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, will provide funds sufficienton which when due will, in the opinion of a nationally recognized firm of an independent certified public accountantsaccountant delivered to the Trustee (upon which opinion the Trustee may conclusively rely), provide money sufficient to pay the principal, premium, if any, principal of and all unpaid interest to maturity, on the Notes or to the redemption date, as the case may be, with respect to all of the Bonds Parity Debt to be paid or redeemedpaid, as such principal, premium principal and interest become due; provided provided, however, that, with respect to the Notes, no such opinion shall be required and a Certificate of the Commission shall suffice in lieu thereof if the Defeasance Securities to be deposited shall mature within ninety (90) days of the date of such deposit and if the Commission shall have delivered to the Trustee a Certificate to the effect that the Trustee Commission will provide such additional funds as are necessary to pay all unpaid interest to maturity on the Notes or Parity Debt to be paid should such Defeasance Securities be insufficient; provided, in each case, that the Trustee, escrow agent or other fiduciary shall have been irrevocably instructed (by the Issuer terms of this Indenture or by Request of the Commission) to apply the proceeds of said obligations such money to the payment of said principal, premium, if any, such principal and interest with respect to such BondsNotes or Parity Debt.

Deposit of Money or Securities with Trustee. Whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held may include money or securities held by the Trustee in the funds and accounts established pursuant to this Indenture and shall be Eligible Funds (or Government Obligations purchased with Eligible Funds) consisting ofbe: (a) lawful money of the United States of America in an amount equal to the principal amount of such Bonds and all unpaid interest thereon to maturity, except that, in the case of Bonds which are to be redeemed prior to maturity and in respect of which there notice of such redemp- tion shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has been duly given as provided in Article IV or provision satisfactory to the Trustee shall be have been made for the giving of such notice, the amount so to be deposited or held shall be the principal amount of such Bonds and all unpaid interest thereon to the redemption date, together with the redemption premium, if any; or (b) noncallable and nonprepayable direct obligations Defeasance Obligations, the principal of the United States of America or noncallable and nonprepayable obligations which as to principal and interest constitute full faith and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, will provide funds sufficienton which when due will, in the written opinion of a nationally recognized firm of certified public accountantsan Independent Accountant filed with the City, the Agency and the Trustee, provide money sufficient to pay the principal, premium, principal of and interest and premium (if any, and interest to maturity, or to the redemption date, as the case may be, with respect to all of ) on the Bonds to be paid or redeemed, as such principal, interest and premium and interest become due; , provided that in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemp- tion shall have been given as provided in Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided, in each case, that (i) the Trustee shall have been irrevocably instructed (by the Issuer terms of this Indenture or by Written Request of the Agency) to apply the proceeds of said obligations such money to the payment of said such principal, premium, interest and premium (if any, and interest ) with respect to such Bonds, and (ii) the Agency shall have delivered to the Trustee an opinion of Bond Counsel to the effect that such Bonds have been dis- charged in accordance with this Indenture (which opinion may rely upon and assume the accu- racy of the Independent Accountant’s opinion referred to above).

Deposit of Money or Securities with Trustee. Whenever During the Fixed Rate Period, whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held shall be Eligible Funds cash or Investment Securities described in clauses (i) or Government Obligations purchased with Eligible Funds(ii) consisting of: (a) lawful money of the United States of America definition thereof in an amount equal Section 1.01 hereof, which Investment Securities shall be noncallable and not subject to prepayment, the principal amount of such Bonds and all unpaid interest thereon to maturity, except that, in the case of Bonds which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has been duly given or provision satisfactory to the Trustee shall be made for such notice, the amount so to be deposited or held shall be the principal amount of such Bonds and interest thereon to the redemption date, together with the redemption premium, if any; or (b) noncallable and nonprepayable direct obligations of the United States of America or noncallable and nonprepayable obligations on which as to principal and interest constitute full faith and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, when due will provide funds sufficient, in the opinion of a nationally recognized firm of certified public accountants, money sufficient to pay the principalprincipal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, with respect to all of on the Bonds to be paid or redeemed, as such principal, premium premium, if any, and interest become due, provided that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided provided, in each case, that the Trustee shall have been irrevocably instructed (by request of the Issuer Authority) to apply the proceeds of said obligations such money to the payment of said such principal and interest with respect to such Bonds. Whenever Investment Securities are deposited with the Trustee in accordance with Section 11.03(b) hereof, the Company shall provide to the Trustee and the Rating Agency (i) a verification report from an independent public accountant, satisfactory in form and content to the Trustee, demonstrating that the Investment Securities so deposited and the income therefrom shall be sufficient to pay the principal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, on the Bonds to be paid or redeemed, as such principal, premium, if any, and interest with respect become due, and (ii) an opinion acceptable to the Rating Agency, of nationally recognized bankruptcy counsel, to the effect that the provision for payment of the Bonds contemplated to be made pursuant to this Section 11.03 will not constitute or result in such Bondspayments constituting voidable preferences under Section 547 of the Bankruptcy Code.

Deposit of Money or Securities with Trustee. Whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held shall be Eligible Funds cash or Investment securities described in clauses (i) or Government Obligations purchased with Eligible Funds(ii) consisting of: (a) lawful money of the United States of America definition thereof in an amount equal Section 1.01 hereof, which Investment Securities shall be noncallable and not subject to prepayment, the principal amount of such Bonds and all unpaid interest thereon to maturity, except that, in the case of Bonds which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has been duly given or provision satisfactory to the Trustee shall be made for such notice, the amount so to be deposited or held shall be the principal amount of such Bonds and interest thereon to the redemption date, together with the redemption premium, if any; or (b) noncallable and nonprepayable direct obligations of the United States of America or noncallable and nonprepayable obligations on which as to principal and interest constitute full faith and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, when due will provide funds sufficient, in the opinion of a nationally recognized firm of certified public accountants, money sufficient to pay the principalprincipal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, with respect to all of on the Bonds to be paid or redeemed, as such principal, premium premium, if any, and interest become due, provided that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided provided, in each case, that the Trustee shall have been irrevocably instructed (by request of the Issuer Authority) to apply the proceeds of said obligations such money to the payment of said such principal and interest with respect to such Bonds. Whenever Investment securities are deposited with the Trustee in accordance with this Section 11.03, the Borrower shall provide to the Trustee and the Rating Agency, if any, (i) a verification report from an independent public accountant, satisfactory in form and content to the Trustee, demonstrating that the Investment Securities so deposited and the income therefrom shall be sufficient to pay the principal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, on the Bonds to be paid or redeemed, as such principal, premium, if any, and interest with respect become due and (ii) an opinion acceptable to the Rating Agency, if any, of nationally recognized bankruptcy counsel, to the effect that the provision for payment of the Bonds contemplated to be made pursuant to this Section 11.03 will not constitute or result in such Bondspayments constituting voidable preferences under Section 547 of the Bankruptcy Code.

Deposit of Money or Securities with Trustee. Whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held may include money or securities held by the Trustee in the funds and accounts established pursuant to this Indenture (exclusive of the Construction Fund) and shall be Eligible Funds (or Government Obligations purchased with Eligible Funds) consisting ofbe: (a) lawful money of the United States of America in an amount equal to the principal amount of such Bonds and all unpaid interest thereon to maturity, except that, in the case of Bonds which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that maturity, notice of such redemption on a specified redemption date has and of such deposit shall have been duly given as in Article IV provided or provision satisfactory to the Trustee shall be have been made for the giving of such notice, the amount so to be deposited or held shall be the principal amount or redemption price of such Bonds and all unpaid interest thereon to the redemption date, together with the redemption premium, if any; or (b) noncallable Government Obligations the principal of and nonprepayable direct obligations of the United States of America or noncallable and nonprepayable obligations interest on which as to principal and interest constitute full faith and credit obligations of the United States of America, when due will provide money in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, will provide funds sufficient, in the opinion of a nationally recognized firm of certified public accountants, sufficient to pay the principal, premium, if any, redemption price or purchase price in lieu of redemption of and all unpaid interest to maturity, or to the redemption date, as the case may be, with respect to all of on the Bonds to be paid or redeemed, as such principal, premium principal or redemption price and interest become due, provided that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption and of such deposit shall have been given as in Article IV provided or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided provided, in case of clause (a) or (b) above, that the Trustee shall have been irrevocably instructed (by the Issuer terms of this Indenture or by Written Request of the Issuer) to apply the proceeds of said obligations such money to the payment of said principal, premium, if any, such principal or redemption price and interest with respect to such Bonds.

Deposit of Money or Securities with Trustee. Whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the amount necessary amount to pay or redeem any Bonds, the such amount (which may include money or securities so held by the Trustee in the funds established pursuant to be deposited or held this Indenture) shall be Eligible Funds equal (or Government Obligations purchased with Eligible Fundstaking into account income which will accrue from the investment thereof on the date of deposit of such funds but without taking into account any income from the subsequent reinvestment thereof) consisting of: (a) lawful money of the United States of America in an amount equal to the principal amount of such Bonds and all unpaid interest thereon to maturity, except that, in and shall be: (a) lawful money of the case United States of Bonds which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has been duly given or provision satisfactory to the Trustee shall be made for such notice, the amount so to be deposited or held shall be the principal amount of such Bonds and interest thereon to the redemption date, together with the redemption premium, if anyAmerica; or (b) noncallable bonds, bills and nonprepayable direct obligations bonds issued by the Department of the United States Treasury (including without limitation (1) obligations issued or held in book-entry form on the books of America or noncallable the Department of the Treasury and nonprepayable obligations (2) the interest component of Resolution Funding Corporation strips for which as to separation of principal and interest constitute full faith and credit obligations is made by request to the Federal Reserve Bank of the New York in book-entry form), United States of AmericaTreasury Obligations State and Local Government Series and Zero Coupon United States Treasury Bonds; (c) provided, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dateseach case, without further reinvestment, will provide funds sufficient, in the opinion of a nationally recognized firm of certified public accountants, to pay the principal, premium, if any, and interest to maturity, or to the redemption date, as the case may be, with respect to all of the Bonds to be paid or redeemed, as such principal, premium and interest become due; provided that the Trustee shall have been irrevocably instructed (by the Issuer terms of this Indenture or by Request of the Corporation or the Authority) to apply the proceeds of said obligations such money to the payment of said principal, premium, if any, such principal of and interest on such Bonds and provided, further, that the Trustee shall have received (i) an Opinion of Bond Counsel to the effect that such deposit shall not cause interest on the Tax Exempt Bonds to be included in the gross income of the Holder thereof for federal income tax purposes and that the Bonds to be discharged are no longer Outstanding; and (ii) a verification report of a firm of certified public accountants or other financial services firm acceptable to the Trustee verifying that the money or securities so deposited or held together with respect earnings thereon will be sufficient to such Bondsmake all payments of principal of and interest on the Bonds to be discharged to and including their maturity date.

Deposit of Money or Securities with Trustee. Whenever in this Indenture it is provided or permitted that there be deposited with or credited to the account of or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held may include money or securities held by the Trustee in the funds and accounts established pursuant to this Indenture and shall be Eligible Funds (or Government Obligations purchased with Eligible Funds) consisting ofbe: (a) Available Amounts constituting lawful money of the United States of America in an amount equal to the principal amount of such Bonds and all unpaid interest thereon to maturity, except that, in the case of Bonds which are to be redeemed prior to maturity and in respect of which there shall have been furnished to the Trustee proof satisfactory to it that notice of such redemption on a specified redemption date has shall have been duly given as provided in Article IV or provision satisfactory to the Trustee shall be have been made for the giving of such notice, the amount so to be deposited or held shall be the principal amount or redemption price of such Bonds and all unpaid interest thereon to the redemption date, together with the redemption premium, if any; or (b) nonprepayable, noncallable Government Obligations purchased with Available Amounts, the principal of and nonprepayable direct obligations of the United States of America or noncallable and nonprepayable obligations interest on which as to principal and interest constitute full faith and credit obligations of the United States of America, in such amounts and maturing at such times that the proceeds of said obligations received upon their respective maturities and interest payment dates, without further reinvestment, when due will provide funds sufficient, in the opinion of a nationally recognized firm of certified public accountants, money sufficient to pay the principal, premium, if any, principal or redemption price of and all unpaid interest to maturity, or to the redemption date, as the case may be, with respect to all of on the Bonds to be paid or redeemed, as such principal, premium principal or redemption price and interest become due, provided that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided provided, in each case, that the Trustee shall have been irrevocably instructed (by the Issuer terms of this Indenture or by Written Request of the County) to apply the proceeds of said obligations such money to the payment of said principal, premium, if any, such principal or redemption price and interest with respect to such Bonds.