Common use of Lease Payments and Other Amounts Payable Clause in Contracts

Lease Payments and Other Amounts Payable. (a) As long as any Bonds are Outstanding, as and for Lease Payments the Company shall pay in immediately available funds, except as otherwise specifically provided in this paragraph (a) below, at the Principal Office of the Trustee for deposit in the Bond Fund amounts sufficient to pay when due all principal and Redemption Price of and interest on all Bonds Outstanding, including with respect to each Series, on or before 11:30 a.m., New York, New York time, on each Interest Payment Date, Redemption Date or Stated Maturity Date for a Series, an amount equal to all principal and Redemption Price of and interest on all Bonds Outstanding of such Series to become due on such Interest Payment Date, Redemption Date or Stated Maturity Date for whatever reason. Any payment due above shall be reduced by giving credit for moneys then on deposit in the Bond Fund and available for payment of principal of or interest on the Bonds which do not consist of prior Lease Payments (or amounts credited against such payments). Notwithstanding anything provided in this paragraph (a) to the contrary, so long as the Letter of Credit or a Substitute Credit consisting of a direct pay letter of credit shall be in effect, Lease Payments shall be made by the Company directly to the Bank or other Credit Provider, as the case may be. (b) In addition to any other amounts payable hereunder, as Additional Rent: (i) If a Determination of Taxability occurs, the Company shall within two Business Days after notice thereof from the Trustee or otherwise pay to the Trustee in immediately available funds an amount which, together with any balance on hand in any Fund and available for such purpose, shall equal the Redemption Price of all related Bonds Outstanding, together with unpaid interest accrued or to accrue thereon to the Redemption Date. (ii) If all Bonds are subject to redemption as a result of an Event of Default hereunder and direction to the Trustee is given by the Credit Provider to redeem all Bonds, the Company shall pay to the Trustee in immediately available funds no later than three Business Days prior to the date selected for redemption an amount which, together with any balance on hand in any Fund and available for such purpose, shall equal the Redemption Price, together with unpaid interest accrued or to accrue to the Redemption Date (iii) If the Bonds shall be accelerated pursuant to Section 9.2 after any Event of Default, the Company shall pay to the Trustee in immediately available funds on the date the Bonds are accelerated (or such later date as the Trustee may designate pursuant to such Section) the principal of all Bonds Outstanding and all unpaid interest accrued or to accrue on such Bonds to the payment date established by the Trustee pursuant to the Indenture, together with any applicable premium due for redemption of the Bonds. (iv) If the Trustee notifies the Company of a deficiency in the Rebate Fund in accordance with Section 411 of the Indenture, the Company shall, within three Business Days of receipt of such notice, deposit the amount of such deficiency. (c) If the amount held by the Trustee in the Bond Fund and available for such purpose should be sufficient to pay when due all principal or Redemption Price of and interest on all Bonds Outstanding then remaining unpaid, the Company shall not be obligated to make any further payment of Lease Payments under the provisions of Section 5.2(a). (d) As Additional Rent, the Company shall also pay the following amounts to the following persons: (i) to the Trustee, when due, all reasonable fees of the Trustee for services rendered under the Indenture and all reasonable fees and charges of legal counsel and others incurred at the request of the Trustee in the performance of services under the Indenture for which the Trustee and such other persons are entitled to payment or reimbursement, provided that the Company may, without creating a default hereunder, contest in good faith the reasonableness of any such fees or expenses; and (ii) to the Issuer, all reasonable expenses incurred by the Issuer in connection with the transactions contemplated hereby and by the Indenture which are not otherwise required to be paid by the Company under the terms of this Agreement, provided that the Company may, without creating a default hereunder, contest in good faith the reasonableness of any such expenses. (e) In the event the Company should fail to make any of the payments required by this Section, the item in default shall continue as an obligation of the Company until the amount in default shall have been fully paid with interest accruing thereon from the date thereof at a rate equal to the “Base Rate” (as defined in the Reimbursement Agreement).

Lease Payments and Other Amounts Payable. (a) As long as any Bonds are Outstanding, as and for Lease Payments the Company shall pay in immediately available funds, except as otherwise specifically provided in this paragraph (a) below, at the Principal Office of the Trustee for deposit in the Bond Fund amounts sufficient to pay when due all principal and Redemption Price of and interest on all Bonds Outstanding, including with respect to each Series, on or before 11:30 a.m., New York, New York time, on each Interest Payment Date, Redemption Date or Stated Maturity Date for a Series, an amount equal to all principal and Redemption Price of and interest on all Bonds Outstanding of such Series to become due on such Interest Payment Date, Redemption Date or Stated Maturity Date for whatever reason. Any payment due above shall be reduced by giving credit for moneys then on deposit in the Bond Fund and available for payment of principal of or interest on the Bonds which do not consist of prior Lease Payments (or amounts credited against such payments). Notwithstanding anything provided in this paragraph (a) to the contrary, so long as the Letter of Credit or a Substitute Credit consisting of a direct pay letter of credit shall be in effect, Lease Payments shall be made by the Company directly to the Bank or other Credit Provider, as the case may be. (b) In addition to any other amounts payable hereunder, as Additional Rent: (i) If a Determination of Taxability occurs, the Company shall within two Business Days after notice thereof from the Trustee or otherwise pay to the Trustee in immediately available funds an amount which, together with any balance on hand in any Fund and available for such purpose, shall equal the Redemption Price of all related Bonds Outstanding, together with unpaid interest accrued or to accrue thereon to the Redemption Date. (ii) If all Bonds are subject to redemption as a result of an Event of Default hereunder and direction to the Trustee is given by the Credit Provider to redeem all Bonds, the Company shall pay to the Trustee in immediately available funds no later than three Business Days prior to the date selected for redemption an amount which, together with any balance on hand in any Fund and available for such purpose, shall equal the Redemption Price, together with unpaid interest accrued or to accrue to the Redemption Date (iii) If the Bonds shall be accelerated pursuant to Section 9.2 after any Event of Default, the Company shall pay to the Trustee in immediately available funds on the date the Bonds are accelerated (or such later date as the Trustee may designate pursuant to such Section) the principal of all Bonds Outstanding and all unpaid interest accrued or to accrue on such Bonds to the payment date established by the Trustee pursuant to the Indenture, together with any applicable premium due for redemption of the Bonds. (iv) If the Trustee notifies the Company of a deficiency in the Rebate Fund in accordance with Section 411 of the Indenture, the Company shall, within three Business Days of receipt of such notice, deposit the amount of such deficiency. (c) If the amount held by the Trustee in the Bond Fund and available for such purpose should be sufficient to pay when due all principal or Redemption Price of and interest on all Bonds Outstanding then remaining unpaid, the Company shall not be obligated to make any further payment of Lease Payments under the provisions of Section 5.2(a). (d) As Additional Rent, the Company shall also pay the following amounts to the following persons: (i) to the Trustee, when due, all reasonable fees of the Trustee for services rendered under the Indenture and all reasonable fees and charges of legal counsel and others incurred at the request of the Trustee in the performance of services under the Indenture for which the Trustee and such other persons are entitled to payment or reimbursement, provided that the Company may, without creating a default hereunder, contest in good faith the reasonableness of any such fees or expenses; and (ii) to the Issuer, all reasonable expenses incurred by the Issuer in connection with the transactions contemplated hereby and by the Indenture which are not otherwise required to be paid by the Company under the terms of this Agreement, provided that the Company may, without creating a default hereunder, contest in good faith the reasonableness of any such expenses. (e) In the event the Company should fail to make any of the payments required by this Section, the item in default shall continue as an obligation of the Company until the amount in default shall have been fully paid with interest accruing thereon from the date thereof at a rate equal to the “Base Rate” (as defined in the Reimbursement Agreement).such

Lease Payments and Other Amounts Payable. (a) As long as any Bonds are OutstandingThe Company hereby agrees to pay to the Trustee, as and for Lease Payments assignee of the Company shall pay Issuer, in funds which will be immediately available fundson the day payment is due, except from time to time as otherwise specifically provided the amount owed hereunder in this paragraph respect of the lease of the Project, amounts which, and at or before times which, shall correspond to the payments with respect to the principal of and premium, if any, and interest on the Bonds whenever and in whatever manner the same shall become due, whether at stated maturity, upon redemption or declaration or otherwise, and the Purchase Price of Bonds required to be purchased under the Indenture. If, (ai) below, at the Principal Office of date any payment on the Trustee for deposit Bonds is due, there are any Available Moneys in the Bond Fund amounts sufficient which are not being held for the payment of Bonds due and payable but which have not been presented for payment pursuant to pay when due all principal and Redemption Section 6.06 of the Indenture, or (ii) on any date on which Bonds are required to be purchased pursuant to Article IV of the Indenture, there are Available Moneys held for the payment of the Purchase Price which are not being held for the payment of and interest on all Bonds Outstandingwhich have not been presented for payment, including with respect to then, in each Seriescase, on or before 11:30 a.m., New York, New York time, on each Interest Payment Date, Redemption Date or Stated Maturity Date for a Series, an amount equal to all principal and Redemption Price of and interest on all Bonds Outstanding of such Series to become due on such Interest Payment Date, Redemption Date or Stated Maturity Date for whatever reason. Any payment due above moneys shall be reduced by giving credit for moneys credited against the payment then on deposit due hereunder, first in respect of interest and then, to the Bond Fund and available for payment extent of remaining moneys, in respect of principal (it being understood and agreed that the obligation of or interest on the Bonds which do not consist Company to make any payment hereunder shall be satisfied and discharged to the extent of prior Lease Payments (or amounts credited against such paymentsthe corresponding payment made to the Trustee by the Bank under any Letter of Credit). Notwithstanding anything provided in this paragraph The Company will also pay: (ai) the fees, charges and reasonable expenses of the Trustee, the Tender Agent and any paying agents under the Indenture, such fees, charges and reasonable expenses to the contrary, so long as the Letter of Credit or a Substitute Credit consisting of a direct pay letter of credit shall be in effect, Lease Payments shall be made by the Company paid directly to the Bank or other Credit Provider, as the case may be. (b) In addition to any other amounts payable hereunder, as Additional Rent: (i) If a Determination of Taxability occursTrustee, the Company shall within two Business Days after notice thereof from the Trustee Tender Agent or otherwise pay to the Trustee in immediately available funds an amount whichpaying agents for their respective accounts as and when such fees, together with any balance on hand in any Fund charges and available for such purposereasonable expenses become due and payable, shall equal the Redemption Price of all related Bonds Outstanding, together with unpaid interest accrued or to accrue thereon to the Redemption Date. (ii) If all Bonds are subject to redemption as a result of an Event of Default hereunder any expenses and direction to the Trustee is given by the Credit Provider to redeem all Bonds, the Company shall pay to the Trustee in immediately available funds no later than three Business Days prior to the date selected for redemption an amount which, together with any balance on hand in any Fund and available for such purpose, shall equal the Redemption Price, together with unpaid interest accrued costs incurred or to accrue to be incurred by virtue of the Redemption Date issuance of Additional Bonds and (iii) If the Bonds shall be accelerated pursuant to Section 9.2 after any Event of Default, the Company shall pay to the Trustee expenses in immediately available funds on the date the Bonds are accelerated (or such later date as the Trustee may designate pursuant to such Section) the principal of all Bonds Outstanding and all unpaid interest accrued or to accrue on such Bonds to the payment date established by the Trustee pursuant to the Indenture, together connection with any applicable premium due for redemption of the Bonds. (iv) If the Trustee notifies the Company of a deficiency in the Rebate Fund in accordance with Section 411 of the Indenture, the Company shall, within three Business Days of receipt of such notice, deposit the amount of such deficiency. (c) If the amount held by the Trustee in the Bond Fund and available for such purpose should be sufficient to pay when due all principal or Redemption Price of and interest on all Bonds Outstanding then remaining unpaid, the Company shall not be obligated to make any further payment of Lease Payments under the provisions of Section 5.2(a). (d) As Additional Rent, the Company shall also pay the following amounts to the following persons: (i) to the Trustee, when due, all reasonable fees of the Trustee for services rendered under the Indenture and all reasonable fees and charges of legal counsel and others incurred at the request of the Trustee in the performance of services under the Indenture for which the Trustee and such other persons are entitled to payment or reimbursement, provided that the Company may, without creating a default hereunder, contest in good faith the reasonableness of any such fees or expenses; and (ii) to the Issuer, all reasonable expenses incurred by the Issuer in connection with the transactions contemplated hereby and by the Indenture which are not otherwise required to be paid by the Company under the terms of this Agreement, provided that the Company may, without creating a default hereunder, contest in good faith the reasonableness of any such expenses. (e) In the event the Company should fail to make any of the payments required by this Section, the item in default shall continue as an obligation of the Company until the amount in default shall have been fully paid with interest accruing thereon from the date thereof at a rate equal to the “Base Rate” (as defined in the Reimbursement Agreement).

Lease Payments and Other Amounts Payable. (a1) As long The Institution shall pay as any Bonds are Outstanding, as and for basic Lease Payments on or before each Bond Payment Date directly to the Company Trustee, an amount equal to the Debt Service Payment becoming due and payable on the Bonds on such Bond Payment Date. (2) In addition to the Lease Payments pursuant to Section 5.3(a) hereof, throughout the Lease Term, the Institution shall pay to the Issuer as additional Lease Payments within ten (10) days of the receipt of demand therefor, an amount equal to the sum of the expenses of the Issuer and the members thereof incurred (i) by reason of the Issuer's ownership, financing or leasing of the Facility, or (ii) in connection with the carrying out of the Issuer's duties and obligations under the Issuer Documents, the payment of which is not otherwise provided for under this Lease Agreement. The foregoing shall not be deemed to include any annual or continuing administrative or management fee beyond any initial administrative fee or fee for services rendered by the Issuer. (3) The Institution, under the provisions of this Section 5.3, agrees to make the above-mentioned Lease Payments in immediately available fundsfunds and without any further notice in lawful money of the United States of America. In the event the Institution shall fail to timely make any Lease Payment required in Section 5.3(a) the Institution shall pay the same together with all late payment penalties specified in the Bonds. In the event the Institution shall fail to timely make any Lease Payment required in Section 5.3(b), except the Institution shall pay the same together with interest on such Lease Payment at the Default Rate but in no event at a rate higher than the maximum lawful prevailing rate, from the date on which such payment was due until the date on which such payment is made. (4) In addition, the Institution shall pay as additional Lease Payments within fifteen (15) days after receipt of a written demand therefor the Ordinary Expenses and Extraordinary Expenses payable by the Issuer to the Trustee pursuant to and under the Indenture. (5) As both security and a first source of funds for the performance of its basic Lease Payment obligations with respect to the Bonds, the Institution shall, simultaneously with the issuance and delivery of the Bonds, arrange for the delivery of the Letter of Credit to the Trustee. The Institution hereby authorizes and directs the Trustee to draw monies under the Letter of Credit in accordance with the provisions of the Indenture to the extent and at the times necessary to pay the principal or Purchase Price of, Sinking Fund Installments, Redemption Price of, and interest on the Bonds when due. The obligations of the Institution to make payments pursuant to Section 5.3(a) hereof shall be deemed to be satisfied and discharged to the extent of any corresponding drawing made by the Trustee under the Letter of Credit and applied to such payment. (6) Notwithstanding anything in the foregoing to the contrary, if the amount on deposit and available in the Bond Fund is not sufficient to pay the principal of or Purchase Price, Sinking Fund Installments, Redemption Price of, and interest on the Bonds when due (whether at maturity or by redemption or acceleration or otherwise specifically as provided in this paragraph (a) belowthe Indenture), at the Principal Office Institution shall forthwith pay the amount of such deficiency in immediately available funds to the Trustee for deposit in the Bond Fund amounts sufficient to pay when due all principal and Redemption Price of and interest on all Bonds Outstanding, including with respect to each Series, on or before 11:30 a.m., New York, New York time, on each Interest Payment Date, Redemption Date or Stated Maturity Date for a Series, an amount equal to all principal and Redemption Price of and interest on all Bonds Outstanding of such Series to become due on such Interest Payment Date, Redemption Date or Stated Maturity Date for whatever reason. Any payment due above shall be reduced by giving credit for moneys then on deposit in the Bond Fund and available for payment of principal of or interest on the Bonds which do not consist of prior constitute Lease Payments (or amounts credited against such payments). Notwithstanding anything provided in under this paragraph (a) to the contrary, so long as the Letter of Credit or a Substitute Credit consisting of a direct pay letter of credit shall be in effect, Lease Payments shall be made by the Company directly to the Bank or other Credit Provider, as the case may beSection 5.3. (b) In addition to any other amounts payable hereunder, as Additional Rent: (i) If a Determination of Taxability occurs, the Company shall within two Business Days after notice thereof from the Trustee or otherwise pay to the Trustee in immediately available funds an amount which, together with any balance on hand in any Fund and available for such purpose, shall equal the Redemption Price of all related Bonds Outstanding, together with unpaid interest accrued or to accrue thereon to the Redemption Date. (ii) If all Bonds are subject to redemption as a result of an Event of Default hereunder and direction to the Trustee is given by the Credit Provider to redeem all Bonds, the Company shall pay to the Trustee in immediately available funds no later than three Business Days prior to the date selected for redemption an amount which, together with any balance on hand in any Fund and available for such purpose, shall equal the Redemption Price, together with unpaid interest accrued or to accrue to the Redemption Date (iii) If the Bonds shall be accelerated pursuant to Section 9.2 after any Event of Default, the Company shall pay to the Trustee in immediately available funds on the date the Bonds are accelerated (or such later date as the Trustee may designate pursuant to such Section) the principal of all Bonds Outstanding and all unpaid interest accrued or to accrue on such Bonds to the payment date established by the Trustee pursuant to the Indenture, together with any applicable premium due for redemption of the Bonds. (iv) If the Trustee notifies the Company of a deficiency in the Rebate Fund in accordance with Section 411 of the Indenture, the Company shall, within three Business Days of receipt of such notice, deposit the amount of such deficiency. (c) If the amount held by the Trustee in the Bond Fund and available for such purpose should be sufficient to pay when due all principal or Redemption Price of and interest on all Bonds Outstanding then remaining unpaid, the Company shall not be obligated to make any further payment of Lease Payments under the provisions of Section 5.2(a). (d) As Additional Rent, the Company shall also pay the following amounts to the following persons: (i) to the Trustee, when due, all reasonable fees of the Trustee for services rendered under the Indenture and all reasonable fees and charges of legal counsel and others incurred at the request of the Trustee in the performance of services under the Indenture for which the Trustee and such other persons are entitled to payment or reimbursement, provided that the Company may, without creating a default hereunder, contest in good faith the reasonableness of any such fees or expenses; and (ii) to the Issuer, all reasonable expenses incurred by the Issuer in connection with the transactions contemplated hereby and by the Indenture which are not otherwise required to be paid by the Company under the terms of this Agreement, provided that the Company may, without creating a default hereunder, contest in good faith the reasonableness of any such expenses. (e7) In the event the Company Institution should fail to make or cause to be made any of the payments Lease Payments required by under the foregoing provisions of this Section, the item in default or installment not so paid shall continue as an obligation of the Company Institution until the amount in default not so paid shall have been fully paid with interest accruing thereon from the date thereof at a rate equal to the “Base Rate” (as defined in the Reimbursement Agreement)paid.

Lease Payments and Other Amounts Payable. (a) As long as any Bonds are Outstanding, as and for Lease Payments the Company shall pay directly to the Trustee for the account of the Issuer in immediately available funds, except as otherwise specifically provided in this paragraph (a) below, at the Principal Designated Corporate Trust Office of the Trustee for deposit in the Bond Fund amounts sufficient to pay when due all principal and Redemption Price of and interest on all Bonds Outstanding, including with respect to each Series, on or before 11:30 a.m., New YorkPortland, New York Oregon time, on each Interest Payment Date, Redemption Date or Stated Maturity Date for a Series, an amount equal to all principal and Redemption Price of and interest on all Bonds Outstanding of such Series to become due on such Interest Payment Date, Redemption Date or Stated Maturity Date for whatever reason. Any payment due above shall be reduced by giving credit for moneys then on deposit in the Bond Fund and available for payment of principal of or interest on the Bonds which do not consist of prior Lease Payments (or amounts credited against such payments). Notwithstanding anything provided in this paragraph (a) to the contrary, so long as the Letter of Credit or a Substitute Credit consisting of a direct pay letter of credit shall be in effect, Lease Payments shall be made by the Company directly to the Bank or other Credit Provider, as the case may be. (b) In addition to any other amounts payable hereunder, as Additional Rent: (i) If a Determination an Event of Taxability occursoccurs with respect to any Bonds, the Company shall within two Business Days after notice thereof from the Trustee or otherwise pay to the Trustee in immediately available funds an amount which, together with any balance on hand in any Fund and available for such purpose, shall equal the Redemption Price of all related Bonds Outstanding, together with unpaid interest accrued or to accrue thereon to the Redemption Date. (ii) If all Bonds are subject to redemption as a result of an Event of Default hereunder and direction to the Trustee is given by the Credit Provider to redeem all Bonds, the Company shall pay to the Trustee in immediately available funds no later than three Business Days prior to the date selected for redemption an amount which, together with any balance on hand in any Fund and available for such purpose, shall equal the Redemption Price, together with unpaid interest accrued or to accrue to the Redemption Date. (iii) If the Bonds shall be accelerated pursuant to Section 9.2 after any Event of Default, the Company shall pay to the Trustee in immediately available funds on the date the Bonds are accelerated (or such later date as the Trustee may designate pursuant to such Section) the principal of all Bonds Outstanding and all unpaid interest accrued or to accrue on such Bonds to the payment date established by the Trustee pursuant to the Indenture, together with any applicable premium due for redemption of the Bonds. (iv) If the Trustee notifies the Company of a deficiency in the Rebate Fund in accordance with Section 411 6.16 of the Indenture, the Company shall, within three Business Days of receipt of such notice, deposit the amount of such deficiency. (c) If the amount held by the Trustee in the Bond Fund and available for such purpose should be sufficient to pay when due all principal or Redemption Price of and interest on all Bonds Outstanding then remaining unpaid, the Company shall not be obligated to make any further payment of Lease Payments under the provisions of Section 5.2(a). (d) As Additional Rent, the Company shall also pay the following amounts to the following persons: (i) to the Trustee, when due, all reasonable fees and expenses of the Trustee for services rendered under the Indenture Indenture, including any extraordinary fees and expenses, and all reasonable fees fees, charges and charges expenses of legal counsel and others incurred at the request of the Trustee in the performance of services under the Indenture for which the Trustee and such other persons are entitled to payment or reimbursement, provided that the Company may, without creating a default hereunder, contest in good faith the reasonableness of any such fees or expenses; and (ii) to the Issuer, all reasonable expenses incurred by the Issuer in connection with the transactions contemplated hereby and by the Indenture which are not otherwise required to be paid by the Company under the terms of this Agreement, provided that the Company may, without creating a default hereunder, contest in good faith the reasonableness of any such expenses. (e) In the event the Company should fail to make any of the payments required by this Section, the item in default shall continue as an obligation of the Company until the amount in default shall have been fully paid with interest accruing thereon from the date thereof at a the rate equal to the “Base Rate” (as defined specified in the Reimbursement Credit Agreement).