Loan and Other Payments. (a) The Borrower shall pay hereunder to the Trustee for deposit into the appropriate funds and accounts under the Indenture the amounts at the times required by the Notes and this Agreement. Amounts so paid to the Trustee by the Borrower shall be in immediately available funds, provided, however, that the Borrower shall not be responsible for any costs associated with any securitization of the Bonds including, without limitation, any costs associated with receiving a rating on the Bonds. In furtherance of the foregoing, the Borrower shall pay to the Trustee on the fifteenth day of each month the following amounts: (i) Commencing September 15, 2016, and on the 15th day of each month thereafter, the interest due on the next succeeding Interest Payment Date, plus any interest due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture; and (ii) Commencing on September 15, 2018, and on the 15th day of each month thereafter, the principal due on the Series A-1 Bonds on the next succeeding Interest Payment Date through redemption under Section 4.01 of the Indenture or at maturity, net of allowance for any additional amounts on deposit in the Principal Account of the Bond Fund or the Redemption Fund which are available for the payment of principal on the Bonds plus any principal due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture. (b) In addition to other amounts due under this Agreement, the Borrower shall pay on the fifteenth day of each month to the Trustee the following amounts: (i) Commencing on September 15, 2016, one-twelfth of the Replacement Reserve Fund Requirement; (ii) Commencing on September 15, 2016, (a) 1/12th of the Administrative Expenses (taking into account the annual amount of such Administrative Expenses if payable on a semiannual basis), applying amounts on deposit in the Administrative Expense Account for this purpose as a credit toward each monthly payment, and (b) to the extent incurred in accordance with the Indenture and this Agreement, any expenses of the Trustee or the Issuer for extraordinary services, including, but not limited to, the payment obligations of the Borrower pursuant to Section 4.13 and Section 5.03; and (iii) Commencing on September 15, 2016, (a) an amount equal to a portion of the premiums for required insurance due determined as of the first monthly payment of such payment period by multiplying such insurance premium by a fraction, the numerator of which is one and the denominator of which is the number of monthly payments due prior to the next payment date of such insurance premium less any amounts on deposit in the Escrow Fund and available for such purpose; provided, however, that the last monthly payment of such payment period shall be adjusted to reflect the actual insurance premium due and
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement
Loan and Other Payments. (a) The Borrower shall pay hereunder to the Trustee for deposit into the appropriate funds and accounts under the Indenture the amounts at the times required by the Notes and this Agreement. Amounts so paid to the Trustee by the Borrower shall be in immediately available funds, provided, however, that the Borrower shall not be responsible for any costs associated with any securitization of the Bonds including, without limitation, any costs associated with receiving a rating on the Bonds. In furtherance of the foregoing, the Borrower shall pay to the Trustee on the fifteenth day of each month the following amounts:
(i) Commencing September 15, 201620 , and on the 15th day of each month thereafter, the interest due on the next succeeding Interest Payment Date, plus any interest due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture; and
(ii) Commencing on September 15, 201820 , and on the 15th day of each month thereafter, the principal due on the Series A-1 Bonds on the next succeeding Interest Payment Date through redemption under Section 4.01 of the Indenture or at maturity, net of allowance for any additional amounts on deposit in the Principal Account of the Bond Fund or the Redemption Fund which are available for the payment of principal on the Bonds plus any principal due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture.
(b) In addition to other amounts due under this Agreement, the Borrower shall pay on the fifteenth day of each month to the Trustee the following amounts:
(i) Commencing on September 15, 201620 , one-twelfth of the Replacement Reserve Fund Requirement;
(ii) Commencing on September 15, 201620 , (a) 1/12th of the Administrative Expenses (taking into account the annual amount of such Administrative Expenses if payable on a semiannual basis), applying amounts on deposit in the Administrative Expense Account for this purpose as a credit toward each monthly payment, and (b) to the extent incurred in accordance with the Indenture and this Agreement, any expenses of the Trustee or the Issuer for extraordinary services, including, but not limited to, the payment obligations of the Borrower pursuant to Section 4.13 and Section 5.03; and
(iii) Commencing on September 15, 201620 , (a) an amount equal to a portion of the premiums for required insurance due determined as of the first monthly payment of such payment period by multiplying such insurance premium by a fraction, the numerator of which is one and the denominator of which is the number of monthly payments due prior to the next payment date of such insurance premium less any amounts on deposit in the Escrow Fund and available for such purpose; provided, however, that the last monthly payment of such payment period shall be adjusted to reflect the actual insurance premium due and
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement
Loan and Other Payments. (a) The Borrower shall pay hereunder to the Trustee for deposit into the appropriate funds and accounts under the Indenture the amounts at the times required by the Notes and this Agreement. Amounts so paid to the Trustee by the Borrower shall be in immediately available funds, provided, however, that the Borrower shall not be responsible for any costs associated with any securitization of the Bonds including, without limitation, any costs associated with receiving a rating on the Bonds. In furtherance of the foregoing, the Borrower shall pay to the Trustee on the fifteenth day of each month the following amounts:
(i) Commencing September [October 15, 2016], and on the 15th day of each month thereafter, the interest due on the next succeeding Interest Payment Date, plus any interest due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture; and
(ii) Commencing on September [October 15, 2018], and on the 15th day of each month thereafter, the principal due on the Series A-1 D-1 Bonds on the next succeeding Interest Payment Date through redemption under Section 4.01 of the Indenture or at maturity, net of allowance for any additional amounts on deposit in the Principal Account of the Bond Fund or the Redemption Fund which are available for the payment of principal on the Bonds plus any principal due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture.
(b) In addition to other amounts due under this Agreement, the Borrower shall pay on the fifteenth day of each month to the Trustee the following amounts:
(i) Commencing on September [October 15, 2016], one-twelfth of the Replacement Reserve Fund Requirement;
(ii) Commencing on September [October 15, 2016], (a) 1/12th of the Administrative Expenses (taking into account the annual amount of such Administrative Expenses if payable on a semiannual basis), applying amounts on deposit in the Administrative Expense Account for this purpose as a credit toward each monthly payment, and (b) to the extent incurred in accordance with the Indenture and this Agreement, any expenses of the Trustee or the Issuer for extraordinary services, including, but not limited to, the payment obligations of the Borrower pursuant to Section 4.13 and Section 5.03; and
(iii) Commencing on September [October 15, 2016], (a) an amount equal to a portion of the premiums for required insurance due determined as of the first monthly payment of such payment period by multiplying such insurance premium by a fraction, the numerator of which is one and the denominator of which is the number of monthly payments due prior to the next payment date of such insurance premium less any amounts on deposit in the Escrow Fund and available for such purpose; provided, however, that the last monthly payment of such payment period shall be adjusted to reflect the actual insurance premium due and
Appears in 1 contract
Samples: Loan Agreement
Loan and Other Payments. (a) The Borrower shall pay hereunder to the Trustee for deposit into the appropriate funds and accounts under the Indenture the amounts at the times required by the Notes and this Agreement. Amounts so paid to the Trustee by the Borrower shall be in immediately available funds, provided, however, that the Borrower shall not be responsible for any costs associated with any securitization of the Bonds including, without limitation, any costs associated with receiving a rating on the Bonds. In furtherance of the foregoing, the Borrower shall pay to the Trustee on the fifteenth day of each month the following amounts:
(i) Commencing September January 15, 2016, and on the 15th day of each month thereafter, the interest due on the next succeeding Interest Payment Date, plus any interest due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture; and
(ii) Commencing on September January 15, 2018, and on the 15th day of each month thereafter, the principal due on the Series A-1 B-1 Bonds on the next succeeding Interest Payment Date through redemption under Section 4.01 of the Indenture or at maturity, net of allowance for any additional amounts on deposit in the Principal Account of the Bond Fund or the Redemption Fund which are available for the payment of principal on the Bonds plus any principal due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture.
(b) In addition to other amounts due under this Agreement, the Borrower shall pay on the fifteenth day of each month to the Trustee the following amounts:
(i) Commencing on September January 15, 2016, one-twelfth of the Replacement Reserve Fund Requirement;
(ii) Commencing on September January 15, 2016, (a) 1/12th of the Administrative Expenses (taking into account the annual amount of such Administrative Expenses if payable on a semiannual basis), applying amounts on deposit in the Administrative Expense Account for this purpose as a credit toward each monthly payment, and (b) to the extent incurred in accordance with the Indenture and this Agreement, any expenses of the Trustee or the Issuer for extraordinary services, including, but not limited to, the payment obligations of the Borrower pursuant to Section 4.13 and Section 5.03; and
(iii) Commencing on September January 15, 2016, (a) an amount equal to a portion of the premiums for required insurance due determined as of the first monthly payment of such payment period by multiplying such insurance premium by a fraction, the numerator of which is one and the denominator of which is the number of monthly payments due prior to the next payment date of such insurance premium less any amounts on deposit in the Escrow Fund and available for such purpose; provided, however, that the last monthly payment of such payment period shall be adjusted to reflect the actual insurance premium due and
Appears in 1 contract
Samples: Loan Agreement
Loan and Other Payments. (a) The Borrower shall pay hereunder to the Trustee for deposit into the appropriate funds and accounts under the Indenture the amounts at the times required by the Notes and this Agreement. Amounts so paid to the Trustee by the Borrower shall be in immediately available funds, provided, however, that the Borrower shall not be responsible for any costs associated with any securitization of the Bonds including, without limitation, any costs associated with receiving a rating on the Bonds. In furtherance of the foregoing, the Borrower shall pay to the Trustee on the fifteenth day of each month the following amounts:
(i) Commencing September [October 15, 2016], and on the 15th day of each month thereafter, the interest due on the next succeeding Interest Payment Date, plus any interest due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture; and
(ii) Commencing on September [October 15, 2018], and on the 15th day of each month thereafter, the principal due on the Series A-1 E-1 Bonds on the next succeeding Interest Payment Date through redemption under Section 4.01 of the Indenture or at maturity, net of allowance for any additional amounts on deposit in the Principal Account of the Bond Fund or the Redemption Fund which are available for the payment of principal on the Bonds plus any principal due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture.
(b) In addition to other amounts due under this Agreement, the Borrower shall pay on the fifteenth day of each month to the Trustee the following amounts:
(i) Commencing on September [October 15, 2016], one-twelfth of the Replacement Reserve Fund Requirement;
(ii) Commencing on September [October 15, 2016], (a) 1/12th of the Administrative Expenses (taking into account the annual amount of such Administrative Expenses if payable on a semiannual basis), applying amounts on deposit in the Administrative Expense Account for this purpose as a credit toward each monthly payment, and (b) to the extent incurred in accordance with the Indenture and this Agreement, any expenses of the Trustee or the Issuer for extraordinary services, including, but not limited to, the payment obligations of the Borrower pursuant to Section 4.13 and Section 5.03; and
(iii) Commencing on September [October 15, 2016], (a) an amount equal to a portion of the premiums for required insurance due determined as of the first monthly payment of such payment period by multiplying such insurance premium by a fraction, the numerator of which is one and the denominator of which is the number of monthly payments due prior to the next payment date of such insurance premium less any amounts on deposit in the Escrow Fund and available for such purpose; provided, however, that the last monthly payment of such payment period shall be adjusted to reflect the actual insurance premium due and
Appears in 1 contract
Samples: Loan Agreement
Loan and Other Payments. (a) The Borrower shall pay hereunder to the Trustee for deposit into the appropriate funds and accounts under the Indenture the amounts at the times required by the Notes and this Agreement. Amounts so paid to the Trustee by the Borrower shall be in immediately available funds, provided, however, that the Borrower shall not be responsible for any costs associated with any securitization of the Bonds including, without limitation, any costs associated with receiving a rating on the Bonds. In furtherance of the foregoing, the Borrower shall pay to the Trustee on the fifteenth day of each month the following amounts:
(i) Commencing September 15, 20162017, and on the 15th day of each month thereafter, the interest due on the next succeeding Interest Payment Date, plus any interest due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture; and
(ii) Commencing on September 15, 20182019, and on the 15th day of each month thereafter, the principal due on the Series A-1 Bonds on the next succeeding Interest Payment Date through redemption under Section 4.01 of the Indenture or at maturity, net of allowance for any additional amounts on deposit in the Principal Account of the Bond Fund or the Redemption Fund which are available for the payment of principal on the Bonds plus any principal due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture.
(b) In addition to other amounts due under this Agreement, the Borrower shall pay on the fifteenth day of each month to the Trustee the following amounts:
(i) Commencing on September 15, 2016, one-twelfth of the Replacement Reserve Fund Requirement;
(ii) Commencing on September 15, 20162017, one-twelfth of the 15, 2017, (a) 1/12th of the Administrative Expenses (taking into account the annual amount of such Administrative Expenses if payable on a semiannual basis), applying amounts on deposit in the Administrative Expense Account for this purpose as a credit toward each monthly payment, and (b) to the extent incurred in accordance with the Indenture and this Agreement, any expenses of the Trustee or the Issuer for extraordinary services, including, but not limited to, the payment obligations of the Borrower pursuant to Section 4.13 and Section 5.03; and
(iii) Commencing on September 15, 20162017, (a) an amount equal to a portion of the premiums for required insurance due determined as of the first monthly payment of such payment period by multiplying such insurance premium by a fraction, the numerator of which is one and the denominator of which is the number of monthly payments due prior to the next payment date of such insurance premium less any amounts on deposit in the Escrow Fund and available for such purpose; provided, however, that the last monthly payment of such payment period shall be adjusted to reflect the actual insurance premium due and
Appears in 1 contract
Samples: Loan Agreement
Loan and Other Payments. (a) The Borrower shall pay hereunder to the Trustee for deposit into the appropriate funds and accounts under the Indenture the amounts at the times required by the Notes and this Agreement. Amounts so paid to the Trustee by the Borrower shall be in immediately available funds, provided, however, that the Borrower shall not be responsible for any costs associated with any securitization of the Bonds including, without limitation, any costs associated with receiving a rating on the Bonds. In furtherance of the foregoing, the Borrower shall pay to the Trustee on the fifteenth day of each month the following amounts:
(i) Commencing September 15, 20162017, and on the 15th day of each month thereafter, the interest due on the next succeeding Interest Payment Date, plus any interest due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture; and
(ii) Commencing on September 15, 20182019, and on the 15th day of each month thereafter, the principal due on the Series A-1 B-1 Bonds on the next succeeding Interest Payment Date through redemption under Section 4.01 of the Indenture or at maturity, net of allowance for any additional amounts on deposit in the Principal Account of the Bond Fund or the Redemption Fund which are available for the payment of principal on the Bonds plus any principal due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture.
(b) In addition to other amounts due under this Agreement, the Borrower shall pay on the fifteenth day of each month to the Trustee the following amounts:
(i) Commencing on September 15, 2016, one-twelfth of the Replacement Reserve Fund Requirement;
(ii) Commencing on September 15, 20162017, one-twelfth of the 15, 2017, (a) 1/12th of the Administrative Expenses (taking into account the annual amount of such Administrative Expenses if payable on a semiannual basis), applying amounts on deposit in the Administrative Expense Account for this purpose as a credit toward each monthly payment, and (b) to the extent incurred in accordance with the Indenture and this Agreement, any expenses of the Trustee or the Issuer for extraordinary services, including, but not limited to, the payment obligations of the Borrower pursuant to Section 4.13 and Section 5.03; and
(iii) Commencing on September 15, 20162017, (a) an amount equal to a portion of the premiums for required insurance due determined as of the first monthly payment of such payment period by multiplying such insurance premium by a fraction, the numerator of which is one and the denominator of which is the number of monthly payments due prior to the next payment date of such insurance premium less any amounts on deposit in the Escrow Fund and available for such purpose; provided, however, that the last monthly payment of such payment period shall be adjusted to reflect the actual insurance premium due and
Appears in 1 contract
Samples: Loan Agreement
Loan and Other Payments. (a) The Borrower shall pay hereunder to the Trustee for deposit into the appropriate funds and accounts under the Indenture the amounts at the times required by the Notes and this Agreement. Amounts so paid to the Trustee by the Borrower shall be in immediately available funds, provided, however, that the Borrower shall not be responsible for any costs associated with any securitization of the Bonds including, without limitation, any costs associated with receiving a rating on the Bonds. In furtherance of the foregoing, the Borrower shall pay to the Trustee on the fifteenth day of each month the following amounts:
(i) Commencing September 15, 2016, and on the 15th day of each month thereafter, the interest due on the next succeeding Interest Payment Date, plus any interest due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture; and
(ii) Commencing on September 15, 2018, and on the 15th day of each month thereafter, the principal due on the Series A-1 B-1 Bonds on the next succeeding Interest Payment Date through redemption under Section 4.01 of the Indenture or at maturity, net of allowance for any additional amounts on deposit in the Principal Account of the Bond Fund or the Redemption Fund which are available for the payment of principal on the Bonds plus any principal due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture.
(b) In addition to other amounts due under this Agreement, the Borrower shall pay on the fifteenth day of each month to the Trustee the following amounts:
(i) Commencing on September 15, 2016, one-twelfth of the Replacement Reserve Fund Requirement;
(ii) Commencing on September 15, 2016, (a) 1/12th of the Administrative Expenses (taking into account the annual amount of such Administrative Expenses if payable on a semiannual basis), applying amounts on deposit in the Administrative Expense Account for this purpose as a credit toward each monthly payment, and (b) to the extent incurred in accordance with the Indenture and this Agreement, any expenses of the Trustee or the Issuer for extraordinary services, including, but not limited to, the payment obligations of the Borrower pursuant to Section 4.13 and Section 5.03; and
(iii) Commencing on September 15, 2016, (a) an amount equal to a portion of the premiums for required insurance due determined as of the first monthly payment of such payment period by multiplying such insurance premium by a fraction, the numerator of which is one and the denominator of which is the number of monthly payments due prior to the next payment date of such insurance premium less any amounts on deposit in the Escrow Fund and available for such purpose; provided, however, that the last monthly payment of such payment period shall be adjusted to reflect the actual insurance premium due and
Appears in 1 contract
Samples: Loan Agreement
Loan and Other Payments. β
(a) The Borrower shall pay hereunder to the Trustee for deposit into the appropriate funds and accounts under the Indenture the amounts at the times required by the Notes and this Agreement. Amounts so paid to the Trustee by the Borrower shall be in immediately available funds, provided, however, that the Borrower shall not be responsible for any costs associated with any securitization of the Bonds including, without limitation, any costs associated with receiving a rating on the Bonds. In furtherance of the foregoing, the Borrower shall pay to the Trustee on the fifteenth day of each month the following amounts:
(i) Commencing September [January] 15, 20162019, and on the 15th day of each month thereafter, the interest due on the next succeeding Interest Payment Date, plus any interest due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture; and
(ii) Commencing on September [January 15, 20182021], and on the 15th day of each month thereafter, the principal due on the Series A-1 Bonds on the next succeeding Interest Payment Date through redemption under Section 4.01 of the Indenture or at maturity, net of allowance for any additional amounts on deposit in the Principal Account of the Bond Fund or the Redemption Fund which are available for the payment of principal on the Bonds plus any principal due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture.
(b) In addition to other amounts due under this Agreement, the Borrower shall pay on the fifteenth day of each month to the Trustee the following amounts:
(i) Commencing on September [January] 15, 20162019, one-twelfth of the Replacement Reserve Fund Requirement;
(ii) Commencing on September [January] 15, 20162019, (a) 1/12th of the Administrative Expenses (taking into account the annual amount of such Administrative Expenses if payable on a semiannual basis), applying amounts on deposit in the Administrative Expense Account for this purpose as a credit toward each monthly payment, and (b) to the extent incurred in accordance with the Indenture and this Agreement, any expenses of the Trustee or the Issuer for extraordinary services, including, but not limited to, the payment obligations of the Borrower pursuant to Section 4.13 and Section 5.03; and
(iii) Commencing on September [January] 15, 20162019, (a) an amount equal to a portion of the premiums for required insurance due determined as of the first monthly payment of such payment period by multiplying such insurance premium by a fraction, the numerator of which is one and the denominator of which is the number of monthly payments due prior to the next payment date of such insurance premium less any amounts on deposit in the Escrow Fund and available for such purpose; provided, however, that the last monthly payment of such payment period shall be adjusted to reflect the actual insurance premium due and
Appears in 1 contract
Samples: Loan Agreement
Loan and Other Payments. (a) The Borrower shall pay hereunder to the Trustee for deposit into the appropriate funds and accounts under the Indenture the amounts at the times required by the Notes and this Agreement. Amounts so paid to the Trustee by the Borrower shall be in immediately available funds, provided, however, that the Borrower shall not be responsible for any costs associated with any securitization of the Bonds including, without limitation, any costs associated with receiving a rating on the Bonds. In furtherance of the foregoing, the Borrower shall pay to the Trustee on the fifteenth day of each month the following amounts:
(i) Commencing September December 15, 2016, and on the 15th day of each month thereafter, the interest due on the next succeeding Interest Payment Date, plus any interest due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture; and
(ii) Commencing on September December 15, 2018, and on the 15th day of each month thereafter, the principal due on the Series A-1 E-1 Bonds on the next succeeding Interest Payment Date through redemption under Section 4.01 of the Indenture or at maturity, net of allowance for any additional amounts on deposit in the Principal Account of the Bond Fund or the Redemption Fund which are available for the payment of principal on the Bonds plus any principal due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture.
(b) In addition to other amounts due under this Agreement, the Borrower shall pay on the fifteenth day of each month to the Trustee the following amounts:
(i) Commencing on September December 15, 2016, one-twelfth of the Replacement Reserve Fund Requirement;
(ii) Commencing on September December 15, 2016, (a) 1/12th of the Administrative Expenses (taking into account the annual amount of such Administrative Expenses if payable on a semiannual basis), applying amounts on deposit in the Administrative Expense Account for this purpose as a credit toward each monthly payment, and (b) to the extent incurred in accordance with the Indenture and this Agreement, any expenses of the Trustee or the Issuer for extraordinary services, including, but not limited to, the payment obligations of the Borrower pursuant to Section 4.13 and Section 5.03; and
(iii) Commencing on September December 15, 2016, (a) an amount equal to a portion of the premiums for required insurance due determined as of the first monthly payment of such payment period by multiplying such insurance premium by a fraction, the numerator of which is one and the denominator of which is the number of monthly payments due prior to the next payment date of such insurance premium less any amounts on deposit in the Escrow Fund and available for such purpose; provided, however, that the last monthly payment of such payment period shall be adjusted to reflect the actual insurance premium due and
Appears in 1 contract
Samples: Loan Agreement
Loan and Other Payments. (a) The Borrower shall pay hereunder to the Trustee for deposit into the appropriate funds and accounts under the Indenture the amounts at the times required by the Notes and this Agreement. Amounts so paid to the Trustee by the Borrower shall be in immediately available funds, provided, however, that the Borrower shall not be responsible for any costs associated with any securitization of the Bonds including, without limitation, any costs associated with receiving a rating on the Bonds. In furtherance of the foregoing, the Borrower shall pay to the Trustee on the fifteenth day of each month the following amounts:
(i) Commencing September December 15, 2016, and on the 15th day of each month thereafter, the interest due on the next succeeding Interest Payment Date, plus any interest due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture; and
(ii) Commencing on September December 15, 2018, and on the 15th day of each month thereafter, the principal due on the Series A-1 G-1 Bonds on the next succeeding Interest Payment Date through redemption under Section 4.01 of the Indenture or at maturity, net of allowance for any additional amounts on deposit in the Principal Account of the Bond Fund or the Redemption Fund which are available for the payment of principal on the Bonds plus any principal due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture.
(b) In addition to other amounts due under this Agreement, the Borrower shall pay on the fifteenth day of each month to the Trustee the following amounts:
(i) Commencing on September December 15, 2016, one-twelfth of the Replacement Reserve Fund Requirement;
(ii) Commencing on September December 15, 2016, (a) 1/12th of the Administrative Expenses (taking into account the annual amount of such Administrative Expenses if payable on a semiannual basis), applying amounts on deposit in the Administrative Expense Account for this purpose as a credit toward each monthly payment, and (b) to the extent incurred in accordance with the Indenture and this Agreement, any expenses of the Trustee or the Issuer for extraordinary services, including, but not limited to, the payment obligations of the Borrower pursuant to Section 4.13 and Section 5.03; and
(iii) Commencing on September December 15, 2016, (a) an amount equal to a portion of the premiums for required insurance due determined as of the first monthly payment of such payment period by multiplying such insurance premium by a fraction, the numerator of which is one and the denominator of which is the number of monthly payments due prior to the next payment date of such insurance premium less any amounts on deposit in the Escrow Fund and available for such purpose; provided, however, that the last monthly payment of such payment period shall be adjusted to reflect the actual insurance premium due and
Appears in 1 contract
Samples: Loan Agreement
Loan and Other Payments. (a) The Borrower shall pay hereunder to the Trustee for deposit into the appropriate funds and accounts under the Indenture the amounts at the times required by the Notes and this Agreement. Amounts so paid to the Trustee by the Borrower shall be in immediately available funds, provided, however, that the Borrower shall not be responsible for any costs associated with any securitization of the Bonds including, without limitation, any costs associated with receiving a rating on the Bonds. In furtherance of the foregoing, the Borrower shall pay to the Trustee on the fifteenth day of each month the following amounts:
(i) Commencing September December 15, 2016, and on the 15th day of each month thereafter, the interest due on the next succeeding Interest Payment Date, plus any interest due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture; and
(ii) Commencing on September December 15, 2018, and on the 15th day of each month thereafter, the principal due on the Series A-1 F-1 Bonds on the next succeeding Interest Payment Date through redemption under Section 4.01 of the Indenture or at maturity, net of allowance for any additional amounts on deposit in the Principal Account of the Bond Fund or the Redemption Fund which are available for the payment of principal on the Bonds plus any principal due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture.
(b) In addition to other amounts due under this Agreement, the Borrower shall pay on the fifteenth day of each month to the Trustee the following amounts:
(i) Commencing on September December 15, 2016, one-twelfth of the Replacement Reserve Fund Requirement;
(ii) Commencing on September December 15, 2016, (a) 1/12th of the Administrative Expenses (taking into account the annual amount of such Administrative Expenses if payable on a semiannual basis), applying amounts on deposit in the Administrative Expense Account for this purpose as a credit toward each monthly payment, and (b) to the extent incurred in accordance with the Indenture and this Agreement, any expenses of the Trustee or the Issuer for extraordinary services, including, but not limited to, the payment obligations of the Borrower pursuant to Section 4.13 and Section 5.03; and
(iii) Commencing on September December 15, 2016, (a) an amount equal to a portion of the premiums for required insurance due determined as of the first monthly payment of such payment period by multiplying such insurance premium by a fraction, the numerator of which is one and the denominator of which is the number of monthly payments due prior to the next payment date of such insurance premium less any amounts on deposit in the Escrow Fund and available for such purpose; provided, however, that the last monthly payment of such payment period shall be adjusted to reflect the actual insurance premium due and
Appears in 1 contract
Samples: Loan Agreement
Loan and Other Payments. (a) The Borrower shall pay hereunder to the Trustee for deposit into the appropriate funds and accounts under the Indenture the amounts at the times required by the Notes and this Agreement. Amounts so paid to the Trustee by the Borrower shall be in immediately available funds, provided, however, that the Borrower shall not be responsible for any costs associated with any securitization of the Bonds including, without limitation, any costs associated with receiving a rating on the Bonds. In furtherance of the foregoing, the Borrower shall pay to the Trustee on the fifteenth day of each month the following amounts:
(i) Commencing September January 15, 20162017, and on the 15th day of each month thereafter, the interest due on the next succeeding Interest Payment Date, plus any interest due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture; and
(ii) Commencing on September January 15, 20182019, and on the 15th day of each month thereafter, the principal due on the Series A-1 H-1 Bonds on the next succeeding Interest Payment Date through redemption under Section 4.01 of the Indenture or at maturity, net of allowance for any additional amounts on deposit in the Principal Account of the Bond Fund or the Redemption Fund which are available for the payment of principal on the Bonds plus any principal due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture.
(b) In addition to other amounts due under this Agreement, the Borrower shall pay on the fifteenth day of each month to the Trustee the following amounts:
(i) Commencing on September January 15, 20162017, one-twelfth of the Replacement Reserve Fund Requirement;
(ii) Commencing on September January 15, 20162017, (a) 1/12th of the Administrative Expenses (taking into account the annual amount of such Administrative Expenses if payable on a semiannual basis), applying amounts on deposit in the Administrative Expense Account for this purpose as a credit toward each monthly payment, and (b) to the extent incurred in accordance with the Indenture and this Agreement, any expenses of the Trustee or the Issuer for extraordinary services, including, but not limited to, the payment obligations of the Borrower pursuant to Section 4.13 and Section 5.03; and
(iii) Commencing on September January 15, 20162017, (a) an amount equal to a portion of the premiums for required insurance due determined as of the first monthly payment of such payment period by multiplying such insurance premium by a fraction, the numerator of which is one and the denominator of which is the number of monthly payments due prior to the next payment date of such insurance premium less any amounts on deposit in the Escrow Fund and available for such purpose; provided, however, that the last monthly payment of such payment period shall be adjusted to reflect the actual insurance premium due and
Appears in 1 contract
Samples: Loan Agreement
Loan and Other Payments. (a) The Borrower shall pay hereunder to the Trustee for deposit into the appropriate funds and accounts under the Indenture the amounts at the times required by the Notes and this Agreement. Amounts so paid to the Trustee by the Borrower shall be in immediately available funds, provided, however, that the Borrower shall not be responsible for any costs associated with any securitization of the Bonds including, without limitation, any costs associated with receiving a rating on the Bonds. In furtherance of the foregoing, the Borrower shall pay to the Trustee on the fifteenth day of each month the following amounts:
(i) Commencing September 15, 2016, and on the 15th day of each month thereafter, the interest due on the next succeeding Interest Payment Date, plus any interest due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture; and
(ii) Commencing on September 15, 2018, and on the 15th day of each month thereafter, the principal due on the Series A-1 C-1 Bonds on the next succeeding Interest Payment Date through redemption under Section 4.01 of the Indenture or at maturity, net of allowance for any additional amounts on deposit in the Principal Account of the Bond Fund or the Redemption Fund which are available for the payment of principal on the Bonds plus any principal due on the Bonds which was not previously paid because insufficient moneys were held under the Indenture.
(b) In addition to other amounts due under this Agreement, the Borrower shall pay on the fifteenth day of each month to the Trustee the following amounts:
(i) Commencing on September 15, 2016, one-twelfth of the Replacement Reserve Fund Requirement;
(ii) Commencing on September 15, 2016, (a) 1/12th of the Administrative Expenses (taking into account the annual amount of such Administrative Expenses if payable on a semiannual basis), applying amounts on deposit in the Administrative Expense Account for this purpose as a credit toward each monthly payment, and (b) to the extent incurred in accordance with the Indenture and this Agreement, any expenses of the Trustee or the Issuer for extraordinary services, including, but not limited to, the payment obligations of the Borrower pursuant to Section 4.13 and Section 5.03; and
(iii) Commencing on September 15, 2016, (a) an amount equal to a portion of the premiums for required insurance due determined as of the first monthly payment of such payment period by multiplying such insurance premium by a fraction, the numerator of which is one and the denominator of which is the number of monthly payments due prior to the next payment date of such insurance premium less any amounts on deposit in the Escrow Fund and available for such purpose; provided, however, that the last monthly payment of such payment period shall be adjusted to reflect the actual insurance premium due and
Appears in 1 contract
Samples: Loan Agreement