Junior Subordinate Obligations Fund Clause Samples

Junior Subordinate Obligations Fund. The Trustee shall establish, maintain and hold in trust a separate fund designated as the “Junior Subordinate Obligations Fund.” As long as any Junior Subordinate Obligations remain unpaid, any Pledged Revenues remaining in the Revenue Fund after the deposits or payments described in (1), (2), (3), (4) and (5) above have been made shall be transferred on the same Business Day to the Junior Subordinate Obligations Fund. After the Trustee has made any deposit or payment of Pledged Revenues as in the current month required by the instrument or instruments creating the Junior Subordinate Obligations, the Trustee shall transfer any remaining Pledged Revenues back to the Revenue Fund.