Common use of Interest Account Clause in Contracts

Interest Account. The Trustee, on each Interest Payment Date, shall withdraw and apply from moneys on deposit in the Interest Account an amount which shall be sufficient to pay interest payable on the outstanding Bonds on such Interest Payment Date.

Interest Account. The Trustee, on each Interest Payment Date, shall withdraw and apply from moneys on deposit in the Interest Account for each series of Bonds an amount which shall be sufficient to pay interest payable on the outstanding Bonds of such series on such Interest Payment Date.