Common use of Funds and Accounts Clause in Contracts

Funds and Accounts. ‌ (i) In each case in accordance with the provisions of the Bond Documents, including this Agreement, the Borrower shall maintain each of the Prior Reserve Account, the Parity Reserve Account and the TIFIA Reserve Account in an amount equal to the Prior Reserve Account Requirement, the Parity Reserve Account Requirement and the TIFIA Reserve Account Requirement, respectively. Amounts in each Reserve Account shall be applied to ensure the timely payment of the principal of and interest on the Bonds secured by such Reserve Account. The Borrower may replace all or a portion of the required balance on each such Reserve Account, if permitted by and in accordance with the terms of the Bond Documents, with an irrevocable letter of credit, insurance policy or similar instrument provided by a Qualified Financial Institution. With respect to the TIFIA Reserve Account, any letter of credit, insurance policy or similar instrument shall be issued by a Qualified Financial Institution and, in the case of any letter of credit, such letter of credit shall be an Acceptable Letter of Credit. If at any time the financial institution that has provided such letter of credit, insurance policy or similar instrument ceases to be a Qualified Financial Institution, the Borrower shall cause such instrument to be replaced by a new Acceptable Letter of Credit, insurance policy or similar instrument issued by a Qualified Financial Institution within thirty (30) Business Days after the date on which such financial institution ceased to be a Qualified Financial Institution or shall otherwise ensure that the TIFIA Reserve Account is funded with cash and/or Permitted Investments in an amount, together with any Acceptable Letter of Credit, insurance policy or similar instrument credited thereto and issued by a Qualified Financial Institution, not less than the then applicable TIFIA Reserve Account Requirement. (ii) Upon the occurrence of a TIFIA Reserve Event, the Borrower shall transfer to the TIFIA Reserve Account on the first (1st) Business Day of each month thereafter the least of (x) the amount of Pledged Taxes available in that month after making the transfers described in paragraphs First through Seventh in Section 8(d) (Security and Priority; Flow of Funds); (y) one-twelfth (1/12th) of the TIFIA Reserve Account Requirement; and (z) the amount required to make the balance in the TIFIA Reserve Account equal to the TIFIA Reserve Account Requirement; provided, however, that the Borrower shall fund the TIFIA Reserve Account in an amount equal to the TIFIA Reserve Account Requirement no later than the first (1st) Business Day of the month following the twelfth (12th) month after the TIFIA Reserve Event. Notwithstanding the foregoing, following the occurrence of a TIFIA Reserve Event, in the event that, on any Ratio Calculation Date, the Debt Service Coverage Ratio for the preceding Calculation Period falls below 1.25 to 1.00, the amount of the TIFIA Reserve Account Requirement not yet funded, if any, shall be funded by no later than the next Semi-Annual Payment Date following such occurrence. Amounts on deposit in the TIFIA Reserve Account shall be made available to ensure the timely payment of TIFIA Debt Service on the TIFIA Loan and debt service in respect of Other TIFIA Bonds, in each case as needed, and shall not be available to pay any other obligations owed by the Borrower to any other Person. If any funds on deposit in the TIFIA Reserve Account are drawn upon to pay TIFIA Debt Service due on any Semi-Annual Payment Date, the Borrower shall restore such funds on deposit in the TIFIA Reserve Account to the TIFIA Reserve Account Requirement no later than the next succeeding Semi-Annual Payment Date. So long as any TIFIA Reserve Event continues, funds on deposit in the TIFIA Reserve Account shall remain in such account and shall be invested only in Permitted Investments. If, after the occurrence of a TIFIA Reserve Event, the Borrower delivers to the TIFIA Lender certificates pursuant to Section 21(f) (Financial Plan, Statements, and Reports) on four (4) consecutive Ratio Calculation Dates showing that the Debt Service Coverage Ratio for the Calculation Period preceding each such Ratio Calculation Date was not less than 1.50 to 1.00, the Borrower may provide written notice thereof to the TIFIA Lender and transfer any balance in the TIFIA Reserve Account to the Local Option Tax Accounts or Additional Taxes Accounts for application in accordance with Section 8(d) (Security and Priority; Flow of Funds); provided that, if the duration of the TIFIA Reserve Event was longer than two (2) years, then any balance in the TIFIA Reserve Account shall remain in the TIFIA Reserve Account for a period at least as long as the duration of the TIFIA Reserve Event and, before the Borrower may transfer any balance in the TIFIA Reserve Account to the Local Option Tax Accounts for application in accordance with Section 8(d) (Security and Priority; Flow of Funds), the Borrower must deliver to the TIFIA Lender certificates pursuant to Section 21(f) (Financial Plan, Statements, and Reports) on each Ratio Calculation Date during such period showing that the Debt Service Coverage Ratio for the preceding Calculation Period was not less than 1.50 to 1.00. (iii) In accordance with the provisions of the TIFIA Refinancing Resolution, the Borrower shall cause the Prior Bond Account, Parity Bond Account, TIFIA Debt Service Account and any debt payment account created in connection with any other Junior Obligations to be funded in such amounts and under such conditions as are required in the TIFIA Refinancing Resolution to pay debt service on the Prior Bonds, Parity Bonds, the TIFIA Bond, any Other TIFIA Bonds, and any other Junior Obligations, respectively. (iv) Amounts on deposit in the Construction Account shall be held uninvested or invested in Permitted Investments. Any such Permitted Investments must mature or be redeemable at the election of the holder on or prior to the date on which the funds invested in such Permitted Investments are needed for any payment from such Construction Account.

Funds and Accounts. ‌ (i) In each case in accordance with the provisions of the Bond Documents, including this AgreementAgreement and each other TIFIA MCA Document, the Borrower shall maintain each of the Prior Reserve Account, the Parity Reserve Account and the TIFIA Reserve Account in an amount equal to the Prior Reserve Account Requirement, the Parity Reserve Account Requirement and the TIFIA Reserve Account Requirement, respectively. Amounts in each Reserve Account shall be applied to ensure the timely payment of the principal of and interest on the Bonds secured by such Reserve Account. The Borrower may replace all or a portion of the required balance on each such Reserve Account, if permitted by and in accordance with the terms of the Bond Documents, with an irrevocable letter of credit, insurance policy or similar instrument provided by a Qualified Financial Institution. With respect to the TIFIA Reserve Account, any letter of credit, insurance policy or similar instrument shall be issued by a Qualified Financial Institution and, in the case of any letter of credit, such letter of credit shall be an Acceptable Letter of Credit. If at any time the financial institution that has provided such letter of credit, insurance policy or similar instrument ceases to be a Qualified Financial Institution, the Borrower shall cause such instrument to be replaced by a new Acceptable Letter of Credit, insurance policy or similar instrument issued by a Qualified Financial Institution within thirty (30) Business Days after the date on which such financial institution ceased to be a Qualified Financial Institution or shall otherwise ensure that the TIFIA Reserve Account is funded with cash and/or Permitted Investments in an amount, together with any Acceptable Letter of Credit, insurance policy or similar instrument credited thereto and issued by a Qualified Financial Institution, not less than the then applicable TIFIA Reserve Account Requirement. (ii) Upon the occurrence of a TIFIA Reserve Event, the Borrower shall transfer to the TIFIA Reserve Account on the first (1st) Business Day of each month thereafter the least of (x) the amount of Pledged Taxes available in that month after making the transfers described in paragraphs First through Seventh in Section 8(d) (Security and Priority; Flow of Funds5(d); (y) one-twelfth (1/12th) of the TIFIA Reserve Account Requirement; and (z) the amount required to make the balance in the TIFIA Reserve Account equal to the TIFIA Reserve Account Requirement; provided, however, that the Borrower shall fund the TIFIA Reserve Account in an amount equal to the TIFIA Reserve Account Requirement no later than the first (1st) Business Day of the month following the twelfth (12th) month after the TIFIA Reserve Event. Notwithstanding the foregoing, following the occurrence of a TIFIA Reserve Event, in the event that, on any Ratio Calculation Date, the Debt Service Coverage Ratio for the preceding Calculation Period falls below 1.25 to 1.00, the amount of the TIFIA Reserve Account Requirement not yet funded, if any, shall be funded by no later than the next Semi-Annual Payment Date following such occurrence. Amounts on deposit in the TIFIA Reserve Account shall be made available to ensure the timely payment of TIFIA Debt Service on the each TIFIA Loan and debt service in respect of Other TIFIA Bonds, in each case as needed, and shall not be available to pay any other obligations owed by the Borrower to any other Person. If any funds on deposit in the TIFIA Reserve Account are drawn upon to pay TIFIA Debt Service due on any Semi-Semi- Annual Payment Date, the Borrower shall restore such funds on deposit in the TIFIA Reserve Account to the TIFIA Reserve Account Requirement no later than the next succeeding Semi-Annual Payment Date. So long as any TIFIA Reserve Event continues, funds on deposit in the TIFIA Reserve Account shall remain in such account and shall be invested only in Permitted Investments. If, after the occurrence of a TIFIA Reserve Event, the Borrower delivers to the TIFIA Lender certificates pursuant to Section 21(f) (Financial Plan, Statements, and Reports18(f) on four (4) consecutive Ratio Calculation Dates showing that the Debt Service Coverage Ratio for the Calculation Period preceding each such Ratio Calculation Date was not less than 1.50 to 1.00, the Borrower may provide written notice thereof to the TIFIA Lender and transfer any balance in the TIFIA Reserve Account to the Local Option Tax Accounts or Additional Taxes Accounts for application in accordance with Section 8(d) (Security and Priority; Flow of Funds5(d); provided that, if the duration of the TIFIA Reserve Event was longer than two (2) years, then any balance in the TIFIA Reserve Account shall remain in the TIFIA Reserve Account for a period at least as long as the duration of the TIFIA Reserve Event and, before the Borrower may transfer any balance in the TIFIA Reserve Account to the Local Option Tax Accounts for application in accordance with Section 8(d) (Security and Priority; Flow of Funds5(d), the Borrower must deliver to the TIFIA Lender certificates pursuant to Section 21(f) (Financial Plan, Statements, and Reports18(f) on each Ratio Calculation Date during such period showing that the Debt Service Coverage Ratio for the preceding Calculation Period was not less than 1.50 to 1.00. (iii) In accordance with the provisions of the TIFIA Refinancing MCA Master Resolution, the Borrower shall cause the Prior Bond Account, Parity Bond Account, TIFIA Debt Service Account and any debt payment account created in connection with any other Junior Obligations to be funded in such amounts and under such conditions as are required in the TIFIA Refinancing MCA Master Resolution to pay debt service on the Prior Bonds, Parity Bonds, the TIFIA BondBonds, any Other TIFIA Bonds, and any other Junior Obligations, respectively. (iv) Amounts on deposit in the Construction Account for each MCA Project shall be held uninvested or invested in Permitted Investments. Any such Permitted Investments must mature or be redeemable at the election of the holder on or prior to the date on which the funds invested in such Permitted Investments are needed for any payment from such Construction Account.

Funds and Accounts. ‌ (i) In each case in accordance with the provisions of the Bond Documents, including this Agreement, the Borrower shall maintain each of the Prior Reserve Account, the Parity Reserve Account, the TIFIA Reserve Account and the TIFIA RRIF Reserve Account in an amount equal to the Prior Reserve Account Requirement, the Parity Reserve Account Requirement Requirement, the TIFIA Reserve Account Requirement, and the TIFIA RRIF Reserve Account Requirement, respectively. Amounts in each Reserve Account shall be applied to ensure the timely payment of the principal of and interest on the Bonds secured by such Reserve Account. The Borrower may replace all or a portion of the required balance on each such Reserve Account, if permitted by and in accordance with the terms of the Bond Documents, with an irrevocable letter of credit, insurance policy or similar instrument provided by a Qualified Financial Institution. With respect to the TIFIA Reserve Account, any letter of credit, insurance policy or similar instrument shall be issued by a Qualified Financial Institution and, in the case of any letter of credit, such letter of credit shall be an Acceptable Letter of Credit. If at any time the financial institution that has provided such letter of credit, insurance policy or similar instrument ceases to be a Qualified Financial Institution, the Borrower shall cause such instrument to be replaced by a new Acceptable Letter of Credit, insurance policy or similar instrument issued by a Qualified Financial Institution within thirty (30) Business Days days after the date on which such financial institution ceased to be a Qualified Financial Institution or shall otherwise ensure that the TIFIA Reserve Account is funded with cash and/or Permitted Investments in an amount, together with any Acceptable Letter of Credit, insurance policy or similar instrument credited thereto and issued by a Qualified Financial Institution, not less than the then applicable TIFIA Reserve Account Requirement. (ii) Upon the occurrence of a TIFIA Reserve Event, the Borrower shall transfer to the TIFIA Reserve Account on the first (1st) Business Day of each month thereafter the least of (x) the amount of Pledged Taxes available in that month after making the transfers described in paragraphs First through Seventh in Section 8(d) (Security and Priority; Flow of Funds); (y) one-twelfth (1/12th) of the TIFIA Reserve Account Requirement; and (z) the amount required to make the balance in the TIFIA Reserve Account equal to the TIFIA Reserve Account Requirement; provided, however, provided that the Borrower shall fund the TIFIA Reserve Account in an amount equal to the TIFIA Reserve Account Requirement no later than the first (1st) Business Day of the month following the twelfth (12th) month after the TIFIA Reserve Event. Notwithstanding the foregoing, following the occurrence of a TIFIA Reserve Event, in the event that, on any Ratio Calculation Date, the Debt Service Coverage Ratio for the preceding Calculation Period falls below 1.25 to 1.00, the amount of the TIFIA Reserve Account Requirement not yet funded, if any, shall be funded by no later than the next Semi-Annual Payment Date following such occurrence. Amounts on deposit in the TIFIA Reserve Account shall be made available to ensure the timely payment of TIFIA Debt Service on the TIFIA Loan and debt service in respect of Other TIFIA Bonds, in each case as needed, and shall not be available to pay any other obligations owed by the Borrower to any other Person. If any funds on deposit in the TIFIA Reserve Account are drawn upon to pay TIFIA Debt Service due on any Semi-Annual Payment Date, the Borrower shall restore such funds on deposit in the TIFIA Reserve Account to the TIFIA Reserve Account Requirement no later than the next succeeding Semi-Annual Payment Date. So long as any TIFIA Reserve Event continues, funds on deposit in the TIFIA Reserve Account shall remain in such account (subject to transfers required under this Section 15(k)(ii)) and shall be invested only in Permitted Investments. If, after the occurrence of a TIFIA Reserve Event, the Borrower delivers to the TIFIA Lender certificates pursuant to Section 21(f) (Financial Plan, Statements, and Reports) on four (4) consecutive Ratio Calculation Dates showing that the Debt Service Coverage Ratio Ratio‌ for the Calculation Period preceding each such Ratio Calculation Date was not less than 1.50 to 1.00, the Borrower may provide written notice thereof to the TIFIA Lender and transfer any balance in the TIFIA Reserve Account to the Local Option Tax Accounts or Additional Taxes Accounts for application in accordance with Section 8(d) (Security and Priority; Flow of Funds); provided that, if the duration of the TIFIA Reserve Event was longer than two (2) years, then any balance in the TIFIA Reserve Account shall remain in the TIFIA Reserve Account for a period at least as long as the duration of the TIFIA Reserve Event and, before the Borrower may transfer any balance in the TIFIA Reserve Account to the Local Option Tax Accounts for application in accordance with Section 8(d) (Security and Priority; Flow of Funds), the Borrower must deliver to the TIFIA Lender certificates pursuant to Section 21(f) (Financial Plan, Statements, and Reports) on each Ratio Calculation Date during such period showing that the Debt Service Coverage Ratio for the preceding Calculation Period was not less than 1.50 to 1.00. (iii) In accordance with the provisions of the TIFIA Refinancing Resolution, the Borrower shall cause the Prior Bond Account, Parity Bond Account, TIFIA Debt Service Account and any debt payment account created in connection with any other Junior Obligations to be funded in such amounts and under such conditions as are required in the TIFIA Refinancing Resolution to pay debt service on the Prior Bonds, Parity Bonds, the TIFIA Bond, any Other TIFIA Bonds, and any other Junior Obligations, respectively. (iv) Amounts on deposit in the Construction Account shall be held uninvested or invested in Permitted Investments. Any such Permitted Investments must mature or be redeemable at the election of the holder on or prior to the date on which the funds invested in such Permitted Investments are needed for any payment from such Construction Account.than

Funds and Accounts. ‌ (i) In each case in accordance with the provisions of the Bond Documents, including this Agreement, the Borrower shall maintain each of the Prior Reserve Account, the Parity Reserve Account and the TIFIA Reserve Account in an amount equal to the Prior Reserve Account Requirement, the Parity Reserve Account Requirement and the TIFIA Reserve Account Requirement, respectively. Amounts in each Reserve Account shall be applied to ensure the timely payment of the principal of and interest on the Bonds secured by such Reserve Account. The Borrower may replace all or a portion of the required balance on each such Reserve Account, if permitted by and in accordance with the terms of the Bond Documents, with an irrevocable letter of credit, insurance policy or similar instrument provided by a Qualified Financial Institution. With respect to the TIFIA Reserve Account, any letter of credit, insurance policy or similar instrument shall be issued by a Qualified Financial Institution and, in the case of any letter of credit, such letter of credit shall be an Acceptable Letter of Credit. If at any time the financial institution that has provided such letter of credit, insurance policy or similar instrument ceases to be a Qualified Financial Institution, the Borrower shall cause such instrument to be replaced by a new Acceptable Letter of Credit, insurance policy or similar instrument issued by a Qualified Financial Institution within thirty (30) Business Days after the date on which such financial institution ceased to be a Qualified Financial Institution or shall otherwise ensure that the TIFIA Reserve Account is funded with cash and/or Permitted Investments in an amount, together with any Acceptable Letter of Credit, insurance policy or similar instrument credited thereto and issued by a Qualified Financial Institution, not less than the then applicable TIFIA Reserve Account Requirement. (ii) Upon the occurrence of a TIFIA Reserve Event, the Borrower shall transfer to the TIFIA Reserve Account on the first (1st) Business Day of each month thereafter the least of (x) the amount of Pledged Taxes available in that month after making the transfers described in paragraphs First through Seventh in Section 8(d) (Security and Priority; Flow of Funds); (y) one-twelfth (1/12th) of the TIFIA Reserve Account Requirement; and (z) the amount required to make the balance in the TIFIA Reserve Account equal to the TIFIA Reserve Account Requirement; provided, however, that the Borrower shall fund the TIFIA Reserve Account in an amount equal to the TIFIA Reserve Account Requirement no later than the first (1st) Business Day of the month following the twelfth (12th) month after the TIFIA Reserve Event. Notwithstanding the foregoing, following the occurrence of a TIFIA Reserve Event, in the event that, on any Ratio Calculation Date, the Debt Service Coverage Ratio for the preceding Calculation Period falls below 1.25 to 1.00, the amount of the TIFIA Reserve Account Requirement not yet funded, if any, shall be funded by no later than the next Semi-Annual Payment Date following such occurrence. Amounts on deposit in the TIFIA Reserve Account shall be made available to ensure the timely payment of TIFIA Debt Service on the TIFIA Loan and debt service in respect of Other TIFIA Bonds, in each case as needed, and shall not be available to pay any other obligations owed by the Borrower to any other Person. If any funds on deposit in the TIFIA Reserve Account are drawn upon to pay TIFIA Debt Service due on any Semi-Annual Payment Date, the Borrower shall restore such funds on deposit in the TIFIA Reserve Account to the TIFIA Reserve Account Requirement no later than the next succeeding Semi-Annual Payment Date. So long as any TIFIA Reserve Event continues, funds on deposit in the TIFIA Reserve Account shall remain in such account and shall be invested only in Permitted Investments. If, after the occurrence of a TIFIA Reserve Event, the Borrower delivers to the TIFIA Lender certificates pursuant to Section 21(f) (Financial Plan, Statements, and Reports) on four (4) consecutive Ratio Calculation Dates showing that the Debt Service Coverage Ratio for the Calculation Period preceding each such Ratio Calculation Date was not less than 1.50 to 1.00, the Borrower may provide written notice thereof to the TIFIA Lender and transfer any balance in the TIFIA Reserve Account to the Local Option Tax Accounts or Additional Taxes Accounts for application in accordance with Section 8(d) (Security and Priority; Flow of Funds); provided that, if the duration of the TIFIA Reserve Event was longer than two (2) years, then any balance in the TIFIA Reserve Account shall remain in the TIFIA Reserve Account for a period at least as long as the duration of the TIFIA Reserve Event and, before the Borrower may transfer any balance in the TIFIA Reserve Account to the Local Option Tax Accounts for application in accordance with Section 8(d) (Security and Priority; Flow of Funds), the Borrower must deliver to the TIFIA Lender certificates pursuant to Section 21(f) (Financial Plan, Statements, and Reports) on each Ratio Calculation Date during such period showing that the Debt Service Coverage Ratio for the preceding Calculation Period was not less than 1.50 to 1.00. (iii) In accordance with the provisions of the TIFIA Refinancing Resolution, the Borrower shall cause the Prior Bond Account, Parity Bond Account, TIFIA Debt Service Account and any debt payment account created in connection with any other Junior Obligations to be funded in such amounts and under such conditions as are required in the TIFIA Refinancing Resolution to pay debt service on the Prior Bonds, Parity Bonds, the TIFIA Bond, any Other TIFIA Bonds, and any other Junior Obligations, respectively. (iv) Amounts on deposit in the Construction Account shall be held uninvested or invested in Permitted Investments. Any such Permitted Investments must mature or be redeemable at the election of the holder on or prior to the date on which the funds invested in such Permitted Investments are needed for any payment from such Construction Account.

Funds and Accounts. ‌ (i) In each case in accordance with the provisions of the Bond Documents, including this Agreement, the Borrower shall maintain each of the Prior Reserve Account, the Parity Reserve Account and the TIFIA Reserve Account in an amount equal to the Prior Reserve Account Requirement, the Parity Reserve Account Requirement and the TIFIA Reserve Account Requirement, respectively. Amounts in each Reserve Account shall be applied to ensure the timely payment of the principal of and interest on the Bonds secured by such Reserve Account. The Borrower may replace all or a portion of the required balance on each such Reserve Account, if permitted by and in accordance with the terms of the Bond Documents, with an irrevocable letter of credit, insurance policy or similar instrument provided by a financial institution with a long-term credit rating at the time of issuance of such instrument in one of the two (2) highest Rating Categories.Qualified Financial Institution. With respect to the TIFIA Reserve Account, any letter of credit, insurance policy or similar instrument shall be issued by a Qualified Financial Institution and, in the case of any letter of credit, such letter of credit shall be an Acceptable Letter of Credit. If at any time the financial institution that has provided such letter of credit, insurance policy or similar instrument ceases to be a Qualified Financial Institution, the Borrower shall cause such instrument to be replaced by a new Acceptable Letter of Credit, insurance policy or similar instrument issued by a Qualified Financial Institution within thirty (30) Business Days after the date on which such financial institution ceased to be a Qualified Financial Institution or shall otherwise ensure that the TIFIA Reserve Account is funded with cash and/or Permitted Investments in an amount, together with any Acceptable Letter of Credit, insurance policy or similar instrument credited thereto and issued by a Qualified Financial Institution, not less than the then applicable TIFIA Reserve Account Requirement. (ii) Upon the occurrence of a TIFIA Reserve Event, the Borrower shall transfer to the TIFIA Reserve Account on the first (1st) Business Day of each month thereafter the least of (x) the amount of Pledged Taxes available in that month after making the transfers described in paragraphs First through Seventh in Section 8(d) (Security and Priority; Flow of Funds); (y) one-twelfth (1/12th) of the TIFIA Reserve Account Requirement; and (z) the amount required to make the balance in the TIFIA Reserve Account equal to the TIFIA Reserve Account Requirement; provided, however, that the Borrower shall fund the TIFIA Reserve Account in an amount equal to the TIFIA Reserve Account Requirement no later than the first (1st) Business Day of the month following the twelfth (12th) month after the TIFIA Reserve Event. Notwithstanding the foregoing, following the occurrence of a TIFIA Reserve Event, in the event that, that on any Ratio Calculation Date, the Debt Service Coverage Ratio for the preceding Calculation Period falls below 1.25 to 1.00, the amount of the TIFIA Reserve Account Requirement not yet funded, if any, shall be funded by no later than the next Semi-Semi- Annual Payment Date following such occurrence. Amounts on deposit in the TIFIA Reserve Account shall be made available to ensure the timely payment of TIFIA Debt Service on the TIFIA Loan Service, and debt service in respect of Other TIFIA Bonds, in each case as needed, and shall not be available to pay any other obligations owed by the Borrower to any other Person. If any funds on deposit in the TIFIA Reserve Account are drawn upon to pay TIFIA Debt Service due on any Semi-Annual Payment Date, the Borrower shall immediately restore such funds on deposit in the TIFIA Reserve Account to the TIFIA Reserve Account Requirement no later than the next succeeding Semi-Annual Payment Date. So long as any TIFIA Reserve Event continues, funds on deposit in the TIFIA Reserve Account shall remain in such account and shall be invested only in Permitted Investments. If, after the occurrence of a TIFIA Reserve Event, the Borrower delivers to the TIFIA Lender certificates pursuant to Section 21(f) (Financial Plan, Statements, and Reports21(g) on four (4) consecutive Ratio Calculation Dates showing that the Debt Service Coverage Ratio for the Calculation Period preceding each such Ratio Calculation Date was not less than 1.50 to 1.00, the Borrower may provide written notice thereof to the TIFIA Lender and transfer any balance in the TIFIA Reserve Account to the Local Option Tax Accounts or Additional Taxes Accounts for application in accordance with Section 8(d) (Security and Priority; Flow of Funds); provided that, if the duration of the TIFIA Reserve Event was longer than two (2) years, then any balance in the TIFIA Reserve Account shall remain in the TIFIA Reserve Account for a period at least as long as the duration of the TIFIA Reserve Event andand the, before the Borrower may transfer any balance in the TIFIA Reserve Account to the Local Option Tax Accounts for application in accordance with Section 8(d) (Security and Priority; Flow of Funds), the Borrower must deliver to the TIFIA Lender certificates pursuant to Section 21(f) (Financial Plan, Statements, and Reports21(g) on each Ratio Calculation Date during such period showing that the Debt Service Coverage Ratio for the preceding Calculation Period was not less than 1.50 to 1.00. (iii) In accordance with the provisions of the TIFIA Refinancing Resolution, the Borrower shall cause the Prior Bond Account, Parity Bond Account, TIFIA Debt Service Account and any debt payment account created in connection with any other Junior Obligations to be funded in such amounts and under such conditions as are required in the TIFIA Refinancing Resolution to pay debt service on the Prior Bonds, Parity Bonds, the TIFIA Bond, any Other TIFIA Bonds, and any other Junior Obligations, respectively. (iv) Amounts on deposit in the Construction Account shall be held uninvested or invested in Permitted Investments. Any such Permitted Investments must mature or be redeemable at the election of the holder on or prior to the date on which the funds invested in such Permitted Investments are needed for any payment from such Construction Account.to

Funds and Accounts. ‌ (i) In each case in accordance with the provisions of the Bond Documents, including this Agreement, the Borrower shall maintain each of the Prior Reserve Account, the Parity Reserve Account, the TIFIA Reserve Account and the TIFIA RRIF Reserve Account in an amount equal to the Prior Reserve Account Requirement, the Parity Reserve Account Requirement, the TIFIA Reserve Account Requirement and the TIFIA RRIF Reserve Account Requirement, respectively. Amounts in each Reserve Account shall be applied to ensure the timely payment of the principal of and interest on the Bonds secured by such Reserve Account. The Borrower may replace all or a portion of the required balance on each such Reserve Account, if permitted by and in accordance with the terms of the Bond Documents, with an irrevocable letter of credit, insurance policy or similar instrument provided by a Qualified Financial Institution. With respect to the TIFIA RRIF Reserve Account, any letter of credit, insurance policy or similar instrument shall be issued by a Qualified Financial Institution and, in the case of any letter of credit, such letter of credit shall be an Acceptable Letter of Credit. If at any time the financial institution that has provided such letter of credit, insurance policy or similar instrument ceases to be a Qualified Financial Institution, the Borrower shall cause such instrument to be replaced by a new Acceptable Letter of Credit, insurance policy or similar instrument issued by a Qualified Financial Institution within thirty (30) Business Days days after the date on which such financial institution ceased to be a Qualified Financial Institution or shall otherwise ensure that the TIFIA RRIF Reserve Account is funded with cash and/or Permitted Investments in an amount, together with any Acceptable Letter of Credit, insurance policy or similar instrument credited thereto and issued by a Qualified Financial Institution, not less than the then applicable TIFIA RRIF Reserve Account Requirement. (ii) Upon the occurrence of a TIFIA RRIF Reserve Event, the Borrower shall transfer to the TIFIA RRIF Reserve Account on the first (1st) Business Day of each month thereafter the least of (x) the amount of Pledged Taxes available in that month after making the transfers described in paragraphs First through Seventh in Section 8(d) (Security and Priority; Flow of Funds); (y) one-twelfth (1/12th) of the TIFIA RRIF Reserve Account Requirement; and (z) the amount required to make the balance in the TIFIA Reserve RRIF Reserve‌ Account equal to the TIFIA RRIF Reserve Account Requirement; provided, however, provided that the Borrower shall fund the TIFIA RRIF Reserve Account in an amount equal to the TIFIA RRIF Reserve Account Requirement no later than the first (1st) Business Day of the month following the twelfth (12th) month after the TIFIA RRIF Reserve Event. Notwithstanding the foregoing, following the occurrence of a TIFIA RRIF Reserve Event, in the event that, on any Ratio Calculation Date, the Debt Service Coverage Ratio for the preceding Calculation Period falls below 1.25 to 1.00, the amount of the TIFIA RRIF Reserve Account Requirement not yet funded, if any, shall be funded by no later than the next Semi-Annual Payment Date following such occurrence. Amounts on deposit in the TIFIA RRIF Reserve Account shall be made available to ensure the timely payment of TIFIA RRIF Debt Service on the TIFIA RRIF Loan and debt service in respect of Other TIFIA Bonds, in each case as needed, and shall not be available to pay any other obligations owed by the Borrower to any other Person. If any funds on deposit in the TIFIA RRIF Reserve Account are drawn upon to pay TIFIA RRIF Debt Service due on any Semi-Annual Payment Date, the Borrower shall restore such funds on deposit in the TIFIA RRIF Reserve Account to the TIFIA RRIF Reserve Account Requirement no later than the next succeeding Semi-Annual Payment Date. So long as any TIFIA RRIF Reserve Event continues, funds on deposit in the TIFIA RRIF Reserve Account shall remain in such account (subject to transfers required under this Section 15(k)(ii)) and shall be invested only in Permitted Investments. If, after the occurrence of a TIFIA RRIF Reserve Event, the Borrower delivers to the TIFIA RRIF Lender certificates pursuant to Section 21(f) (Financial Plan, Statements, and Reports) on four (4) consecutive Ratio Calculation Dates showing that the Debt Service Coverage Ratio for the Calculation Period preceding each such Ratio Calculation Date was not less than 1.50 to 1.00, the Borrower may provide written notice thereof to the TIFIA RRIF Lender and transfer any balance in the TIFIA RRIF Reserve Account to the Local Option Tax Accounts or Additional Taxes Accounts for application in accordance with Section 8(d) (Security and Priority; Flow of Funds); provided that, if the duration of the TIFIA RRIF Reserve Event was longer than two (2) years, then any balance in the TIFIA RRIF Reserve Account shall remain in the TIFIA RRIF Reserve Account for a period at least as long as the duration of the TIFIA RRIF Reserve Event and, before the Borrower may transfer any balance in the TIFIA RRIF Reserve Account to the Local Option Tax Accounts for application in accordance with Section 8(d) (Security and Priority; Flow of Funds), the Borrower must deliver to the TIFIA RRIF Lender certificates pursuant to Section 21(f) (Financial Plan, Statements, and Reports) on each Ratio Calculation Date during such period showing that the Debt Service Coverage Ratio for the preceding Calculation Period was not less than 1.50 to 1.00. (iii) In accordance with the provisions of the TIFIA Refinancing RRIF Resolution, the Borrower shall cause the Prior Bond Account, Parity Bond Account, TIFIA RRIF Debt Service Account and any debt payment account created in connection with any other Junior Obligations to be funded in such amounts and under such conditions as are required in the TIFIA Refinancing RRIF Resolution to pay debt service on the Prior Bonds, Parity Bonds, the TIFIA RRIF Bond, any Other TIFIA Bonds, and any other Junior Obligations, respectively. (iv) Amounts on deposit in the Construction Account shall be held uninvested or invested in Permitted Investments. Any such Permitted Investments must mature or be redeemable at the election of the holder on or prior to the date on which the funds invested in such Permitted Investments are needed for any payment from such Construction Account.