Common use of Establishment of Escrow Fund Clause in Contracts

Establishment of Escrow Fund. There is hereby created by the Authority and the Successor Agency with, and to be held by, the Escrow Bank, as security for the payment of the principal of and interest on the Prior Loans and, thereby, the 1999 Authority Bonds, as hereinafter set forth, an irrevocable escrow to be maintained in trust by the Escrow Bank on behalf of the Authority and the Successor Agency and for the benefit of the owners of the 1999 Authority Bonds, said escrow to be designated the “Escrow Fund.” All moneys deposited in the Escrow Fund shall constitute a special fund for the payment of the principal of, and interest on the Prior Loans and, thereby, the 1999 Authority Bonds in accordance with the provisions of the Prior Loan Agreements and the 1999 Authority Indenture, respectively. If at any time the Escrow Bank shall receive actual knowledge that the moneys in the Escrow Fund will not be sufficient to make any payment required by Section 4 hereof, the Escrow Bank shall notify the Successor Agency of such fact and the Successor Agency shall immediately cure such deficiency with any lawfully available funds of the Successor Agency.

Establishment of Escrow Fund. There is hereby created by the Authority and the Successor Agency with, and to be held by, the Escrow Bank, as security for the payment of the principal of and interest on the Prior Loans PH 2003 Loan and, thereby, the 1999 2003 Authority Bonds, as hereinafter set forth, an irrevocable escrow to be maintained in trust by the Escrow Bank on behalf of the Authority and the Successor Agency and for the benefit of the owners of the 1999 2003 Authority Bonds, said escrow to be designated the “Escrow Fund.” All moneys deposited in the Escrow Fund shall constitute a special fund for the payment of the principal of, and interest on the Prior Loans PH 2003 Loan and, thereby, the 1999 2003 Authority Bonds in accordance with the provisions of the Prior Pleasant Hill Loan Agreements Agreement and the 1999 2003 Authority Indenture, respectively. If at any time the Escrow Bank shall receive actual knowledge that the moneys in the Escrow Fund will not be sufficient to make any payment required by Section 4 hereof, the Escrow Bank shall notify the Successor Agency of such fact and the Successor Agency shall immediately cure such deficiency with any lawfully available funds of the Successor Agency.

Establishment of Escrow Fund. There is hereby created by the Authority and the Successor Agency with, and to be held by, the Escrow Bank, as security for the payment of the principal of and interest on the Prior Loans and, thereby, the 1999 2007 Authority Bonds, as hereinafter set forth, an irrevocable escrow to be maintained in trust by the Escrow Bank on behalf of the Authority and the Successor Agency and for the benefit of the owners of the 1999 2007 Authority Bonds, said escrow to be designated the “Escrow Fund.” All moneys deposited in the Escrow Fund shall constitute a special fund for the payment of the principal of, and interest on the Prior Loans and, thereby, the 1999 2007 Authority Bonds in accordance with the provisions of the Prior Loan Agreements and the 1999 2007 Authority Indenture, respectively. If at any time the Escrow Bank shall receive actual knowledge that the moneys in the Escrow Fund will not be sufficient to make any payment required by Section 4 hereof, the Escrow Bank shall notify the Successor Agency of such fact and the Successor Agency shall immediately cure such deficiency with any lawfully available funds of the Successor Agency.

Establishment of Escrow Fund. There is hereby created by the Authority and the Successor Agency City with, and to be held by, the Escrow Bank, Bank as security for the payment and redemption of the principal of and interest on the Prior Loans and, thereby, the 1999 Authority Bonds, 2005 Bonds as hereinafter set forth, an irrevocable escrow to be maintained in trust by the Escrow Bank on behalf of the Authority and the Successor Agency City and for the benefit of the owners of the 1999 Authority 2005 Bonds, said escrow to be designated the “"Escrow Fund.” All moneys and federal securities (the "Escrow Securities") deposited in the Escrow Fund shall constitute be held as a special fund for the payment of the principal of, applicable redemption premium and interest on the Prior Loans and, thereby, 2005 Installment Payments and the 1999 Authority 2005 Bonds in accordance with the provisions of the Prior Loan Agreements this Escrow Deposit and the 1999 Authority Indenture, respectivelyTrust Agreement. If at any time the Escrow Bank shall receive actual knowledge that the moneys and Escrow Securities, if any, in the Escrow Fund will not be sufficient to make any payment required by Section 4 5 hereof, the Escrow Bank shall notify the Successor Agency City of such fact and the Successor Agency City shall immediately cure such deficiency with any lawfully available funds of the Successor Agencydeficiency.

Establishment of Escrow Fund. There is hereby created by the Authority and the Successor Agency City with, and to be held by, the Escrow Bank, Bank as security for the payment and redemption of the principal of and interest on the Prior Loans and, thereby, the 1999 Authority Bonds, 1998 Bonds as hereinafter set forth, an irrevocable escrow to be maintained in trust by the Escrow Bank on behalf of the Authority and the Successor Agency City and for the benefit of the owners of the 1999 Authority 1998 Bonds, said escrow to be designated the “"Escrow Fund.” All moneys and federal securities (the "Escrow Securities") deposited in the Escrow Fund shall constitute be held as a special fund for the payment of the principal of, applicable redemption premium and interest on the Prior Loans and, thereby, 1998 Installment Payments and the 1999 Authority 1998 Bonds in accordance with the provisions of the Prior Loan Agreements this Escrow Deposit and the 1999 Authority Indenture, respectivelyTrust Agreement. If at any time the Escrow Bank shall receive actual knowledge that the moneys and Escrow Securities, if any, in the Escrow Fund will not be sufficient to make any payment required by Section 4 5 hereof, the Escrow Bank shall notify the Successor Agency City of such fact and the Successor Agency City shall immediately cure such deficiency with any lawfully available funds of the Successor Agencydeficiency.