Common use of Lease Rental Payments Clause in Contracts

Lease Rental Payments. On or before each January 15 and July 15, commencing on , 20 , the Borrower shall transfer the Lease Rental Payments received by the Borrower on or before such January 15 or July 15 to the Trustee, who shall deposit such Lease Rental Payments in the Bond Fund for the payment of the Series 20 Bonds on the next Interest Payment Date. The transfers to the Bond Fund shall serve as a credit against the Borrower’s obligations under the Series 20 Note and the Loan Agreement with respect to the Series 20 Bonds.

Lease Rental Payments. On or before each January December 15 and July June 15, commencing on 15, 20 , the Borrower shall transfer the Lease Rental Payments received by the Borrower on or before such January December 15 or July June 15 to the Trustee, who shall deposit such Lease Rental Payments in the Bond Fund for the payment of the Series 20 Bonds on the next Interest Payment Date. The transfers to the Bond Fund shall serve as a credit against the Borrower’s obligations under the Series 20 Note and the Loan Agreement with respect to the Series 20 Bonds.