Common use of Loan Payments Clause in Contracts

Loan Payments. (a) In consideration of the issuance, sale and delivery of the Bonds by the Authority, the Company hereby agrees to pay to the Trustee for the account of the Authority Loan Payments in such amounts and manner so as to enable the Trustee to make payment of the principal of, and premium, if any, and accrued interest on the Bonds as the same shall become due and payable whether at stated maturity or by acceleration, redemption or otherwise in accordance with the terms of the Indenture; provided, however, that the obligation of the Company to make any Loan Payment hereunder shall be reduced by the amount of any reduction under the Indenture of the amount of the corresponding payment required to be made by the Authority of the principal of or premium, if any, or interest on the Bonds. Pursuant to the Indenture, the Authority directs the Trustee to apply such Loan Payments in the manner provided in the Indenture. Whenever payment or provision for payment has been made in respect of the principal of, or premium, if any, and interest on all of the Bonds, the Loan Payments shall be deemed paid in full. (b) The obligation of the Company to make the Loan Payments directly to the Trustee, as the assignee of the Authority under the Indenture, shall be evidenced by the Company’s Note substantially in the form of Exhibit B hereto, which shall be delivered concurrently with the delivery by the Authority of the Bonds. (c) Notwithstanding the foregoing, while any Credit Facility is in effect with respect to the Bonds, the Company’s obligation to make Loan Payments hereunder in respect of the principal of, and premium, if any, and accrued interest on the Bonds shall be deemed to have been satisfied to the extent that moneys shall have been paid by a Credit Facility Issuer to the Trustee for such payment in respect of the Bonds, which amounts may be reimbursed by the Company directly to such Credit Facility Issuer, and no Event of Default shall occur hereunder by reason of any failure of the Company to make any such Loan Payment to the Trustee under subsection (a) above unless the Trustee is notified by the Credit Facility Issuer of the Company’s failure to have reimbursed the Credit Facility Issuer (if any) in accordance with the terms of the Credit Facility.

Loan Payments. (a) In consideration As and for repayment of the issuance, sale and delivery of loan made to the Bonds Company by the AuthorityIssuer pursuant to Section 3.03 hereof, the Company hereby agrees to shall pay to the Trustee Trustee, for the account of the Authority Loan Payments in Issuer, an amount equal to the aggregate principal amount of and the premium, if any, on the Bonds from time to time Outstanding and, as interest on its obligation to pay such amount, an amount equal to interest on the Bonds, such amounts to be paid in installments due on the dates, in the amounts and in the manner so as to enable provided in the Trustee to make Indenture for the payment of the principal of, of and premium, if any, and accrued interest on the Bonds as the same shall become due and payable Bonds, whether at stated maturity maturity, upon redemption, acceleration or by acceleration, redemption or otherwise in accordance with the terms of the Indentureotherwise; provided, however, that the obligation of the Company to make any Loan Payment such payment hereunder shall be reduced by the amount of any reduction moneys held by the Trustee under the Indenture and available for such payment. (b) In the event the Company shall fail to make any payment required by Section 4.01(a) hereof with respect to the principal of and premium, if any, and interest on any Bond, the payment so in default shall continue as an obligation of the Company until the amount in default shall have been fully paid, and the Company will pay interest on any overdue amount with respect to principal of such Bond and, to the extent permitted by law, on any overdue amount with respect to premium, if any, and interest on such Bond, at the interest rate borne by such Bond until paid. (c) The obligation of the Company to make any payment under Section 4.01(a) hereof shall be deemed to be satisfied and discharged to the extent of any corresponding payment required to be made by the Authority Company to the Trustee, for the account of the Issuer, of principal of of, or premium, if any, or interest on the Bonds. Pursuant to the Indenture, the Authority directs the Trustee to apply such Loan Payments in the manner provided in the Indenture. Whenever payment or provision for payment has been made in respect of the principal of, or premium, if any, and interest on all of the Bonds, the Loan Payments shall be deemed paid in full. (b) The obligation of the Company to make the Loan Payments directly to the Trustee, as the assignee of the Authority under the Indenture, shall be evidenced by the Company’s Note substantially in the form of Exhibit B hereto, which shall be delivered concurrently with the delivery by the Authority of the First Mortgage Bonds. (c) Notwithstanding the foregoing, while any Credit Facility is in effect with respect to the Bonds, the Company’s obligation to make Loan Payments hereunder in respect of the principal of, and premium, if any, and accrued interest on the Bonds shall be deemed to have been satisfied to the extent that moneys shall have been paid by a Credit Facility Issuer to the Trustee for such payment in respect of the Bonds, which amounts may be reimbursed by the Company directly to such Credit Facility Issuer, and no Event of Default shall occur hereunder by reason of any failure of the Company to make any such Loan Payment to the Trustee under subsection (a) above unless the Trustee is notified by the Credit Facility Issuer of the Company’s failure to have reimbursed the Credit Facility Issuer (if any) in accordance with the terms of the Credit Facility.

Loan Payments. (a) In consideration As and for repayment of the issuance, sale and delivery of loan made to the Bonds Company by the AuthorityIssuer pursuant to Section 3.03 hereof, the Company hereby agrees to shall pay to the Trustee Trustee, for the account of the Authority Loan Payments in Issuer, an amount equal to the aggregate principal amount of and the premium, if any, on the Bonds from time to time Outstanding and, as interest on its obligation to pay such amount, an amount equal to interest on the Bonds, such amounts to be paid in installments due on the dates, in the amounts and in the manner so as to enable provided in the Trustee to make Indenture for the payment of the principal of, of and premium, if any, and accrued interest on the Bonds as the same shall become due and payable Bonds, whether at stated maturity maturity, upon redemption, acceleration or by acceleration, redemption or otherwise in accordance with the terms of the Indentureotherwise; provided, however, that the obligation of the Company to make any Loan Payment such payment hereunder shall be reduced by the amount of any reduction moneys held by the Trustee under the Indenture and available for such payment; and provided, further, that the obligation of the amount Company to make any payment hereunder shall be deemed to be satisfied and discharged to the extent of the corresponding payment required made (i) by the Provider to the Trustee under any Credit Facility (unless the Credit Facility then in effect shall be an insurance policy, in which case such obligation of the Company shall not be deemed to be made satisfied and discharged) or (ii) by the Authority Company of principal of or premium, if any, or interest on any First Mortgage Bonds and any Additional Collateral that corresponds to the principal of or premium, if any, or interest on the Bonds. Pursuant . (b) In the event the Company shall fail to make any payment required by Section 4.01(a) hereof with respect to the Indenture, the Authority directs the Trustee to apply such Loan Payments in the manner provided in the Indenture. Whenever payment or provision for payment has been made in respect principal of the principal of, or and premium, if any, and interest on all of the Bondsany Bond, the Loan Payments payment so in default shall be deemed paid in full. (b) The continue as an obligation of the Company to make until the Loan Payments directly to amount in default shall have been fully paid, and the Trustee, as the assignee of the Authority under the Indenture, shall be evidenced by the Company’s Note substantially in the form of Exhibit B hereto, which shall be delivered concurrently with the delivery by the Authority of the Bonds. (c) Notwithstanding the foregoing, while Company will pay interest on any Credit Facility is in effect overdue amount with respect to principal of such Bond at the Bonds, the Company’s obligation to make Loan Payments hereunder in respect of the principal of, and premium, if any, and accrued interest on the Bonds shall be deemed to have been satisfied to the extent that moneys shall have been paid rate then borne by a Credit Facility Issuer to the Trustee for such payment in respect of the Bonds, which amounts may be reimbursed by the Company directly to such Credit Facility Issuer, and no Event of Default shall occur hereunder by reason of any failure of the Company to make any such Loan Payment to the Trustee under subsection (a) above unless the Trustee is notified by the Credit Facility Issuer of the Company’s failure to have reimbursed the Credit Facility Issuer (if any) in accordance with the terms of the Credit FacilityBond until paid.

Loan Payments. (a) In consideration As and for repayment of the issuance, sale and delivery of loan made to the Bonds Company by the AuthorityIssuer pursuant to Section 3.03 hereof, the Company hereby agrees to shall pay to the Trustee Trustee, for the account of the Authority Loan Payments in Issuer, an amount equal to the aggregate principal amount of and the premium, if any, on the Bonds from time to time Outstanding and, as interest on its obligation to pay such amount, an amount equal to interest on the Bonds, such amounts to be paid in installments due on the dates, in the amounts and in the manner so as to enable provided in the Trustee to make Indenture for the payment of the principal of, of and premium, if any, and accrued interest on the Bonds as the same shall become due and payable Bonds, whether at stated maturity maturity, upon redemption, acceleration or by acceleration, redemption or otherwise in accordance with the terms of the Indentureotherwise; provided, however, that the obligation of the Company to make any Loan Payment such payment hereunder shall be reduced by the amount of any reduction moneys held by the Trustee under the Indenture of and available for such payment. (b) In the amount of event the corresponding Company shall fail to make any payment required by Section 4.01(a) hereof with respect to be made by the Authority of the principal of or premium, if any, or interest on the Bonds. Pursuant to the Indenture, the Authority directs the Trustee to apply such Loan Payments in the manner provided in the Indenture. Whenever payment or provision for payment has been made in respect of the principal of, or and premium, if any, and interest on all of the Bondsany Bond, the Loan Payments payment so in default shall be deemed paid in full. (b) The continue as an obligation of the Company to make until the Loan Payments directly to amount in default shall have been fully paid, and the Trustee, as the assignee of the Authority under the Indenture, shall be evidenced by the Company’s Note substantially in the form of Exhibit B hereto, which shall be delivered concurrently with the delivery by the Authority of the Bonds. (c) Notwithstanding the foregoing, while Company will pay interest on any Credit Facility is in effect overdue amount with respect to principal of such Bond and, to the Bondsextent permitted by law, the Company’s obligation on any overdue amount with respect to make Loan Payments hereunder in respect of the principal of, and premium, if any, and accrued interest on such Bond, at the Bonds shall be deemed to have been satisfied to the extent that moneys shall have been paid interest rate borne by a Credit Facility Issuer to the Trustee for such payment in respect of the Bonds, which amounts may be reimbursed by the Company directly to such Credit Facility Issuer, and no Event of Default shall occur hereunder by reason of any failure of the Company to make any such Loan Payment to the Trustee under subsection (a) above unless the Trustee is notified by the Credit Facility Issuer of the Company’s failure to have reimbursed the Credit Facility Issuer (if any) in accordance with the terms of the Credit FacilityBond until paid.

Loan Payments. (a) In consideration As and for repayment of the issuance, sale and delivery of loan made to the Bonds Company by the AuthorityIssuer pursuant to Section 3.03 hereof, the Company hereby agrees to shall pay to the Trustee Trustee, for the account of the Authority Loan Payments in Issuer, an amount equal to the aggregate principal amount of and the premium, if any, on the Bonds from time to time Outstanding and, as interest on its obligation to pay such amount, an amount equal to interest on the Bonds, such amounts to be paid in installments due on the dates, in the amounts and in the manner so as to enable provided in the Trustee to make Indenture for the payment of the principal of, of and premium, if any, and accrued interest on the Bonds as the same shall become due and payable Bonds, whether at stated maturity maturity, upon redemption, acceleration or by acceleration, redemption or otherwise in accordance with the terms of the Indentureotherwise; provided, however, that the obligation of the Company to make any Loan Payment such payment hereunder shall be reduced by the amount of any reduction moneys held by the Trustee under the Indenture and available for such payment; and provided further that the obligation of the amount Company to make any payment hereunder shall be deemed to be satisfied and discharged to the extent of the corresponding payment required to be made by the Authority Company of the principal of or premium, if any, or interest on the First Mortgage Bonds. Pursuant . (b) In the event the Company shall fail to make any payment required by Section 4.01(a) hereof with respect to the Indenture, the Authority directs the Trustee to apply such Loan Payments in the manner provided in the Indenture. Whenever payment or provision for payment has been made in respect principal of the principal of, or and premium, if any, and interest on all of the Bondsany Bond, the Loan Payments payment so in default shall be deemed paid in full. (b) The continue as an obligation of the Company to make until the Loan Payments directly to amount in default shall have been fully paid, and the Trustee, as the assignee of the Authority under the Indenture, shall be evidenced by the Company’s Note substantially in the form of Exhibit B hereto, which shall be delivered concurrently with the delivery by the Authority of the Bonds. (c) Notwithstanding the foregoing, while Company will pay interest on any Credit Facility is in effect overdue amount with respect to principal of such Bond and, to the Bondsextent permitted by law, the Company’s obligation on any overdue amount with respect to make Loan Payments hereunder in respect of the principal of, and premium, if any, and accrued interest on such Bond, at the Bonds shall be deemed to have been satisfied to the extent that moneys shall have been paid interest rate then borne by a Credit Facility Issuer to the Trustee for such payment in respect of the Bonds, which amounts may be reimbursed by the Company directly to such Credit Facility Issuer, and no Event of Default shall occur hereunder by reason of any failure of the Company to make any such Bond until paid. Series 1999A Restated Loan Payment to the Trustee under subsection (a) above unless the Trustee is notified by the Credit Facility Issuer of the Company’s failure to have reimbursed the Credit Facility Issuer (if any) in accordance with the terms of the Credit Facility.Agreement

Loan Payments. (a) In consideration As and for repayment of the issuance, sale and delivery of loan made to the Bonds Company by the AuthorityIssuer pursuant to Section 3.03 hereof, the Company hereby agrees to shall pay to the Trustee Trustee, for the account of the Authority Loan Payments in Issuer, an amount equal to the aggregate principal amount of and the premium, if any, on the Bonds from time to time Outstanding and, as interest on its obligation to pay such amount, an amount equal to interest on the Bonds, such amounts to be paid in installments due on the dates, in the amounts and in the manner so as to enable provided in the Trustee to make Indenture for the payment of the principal of, of and premium, if any, and accrued interest on the Bonds as the same shall become due and payable Bonds, whether at stated maturity maturity, upon redemption, acceleration or by acceleration, redemption or otherwise in accordance with the terms of the Indentureotherwise; provided, however, that the obligation of the Company to make any Loan Payment such payment hereunder shall be reduced by the amount of any reduction moneys held by the Trustee under the Indenture of and available for such payment. (b) In the amount of event the corresponding Company shall fail to make any payment required by Section 4.01(a) hereof with respect to be made by the Authority of the principal of or premium, if any, or interest on the Bonds. Pursuant to the Indenture, the Authority directs the Trustee to apply such Loan Payments in the manner provided in the Indenture. Whenever payment or provision for payment has been made in respect of the principal of, or and premium, if any, and interest on all of the Bondsany Bond, the Loan Payments payment so in default shall be deemed paid in full. (b) The continue as an obligation of the Company to make until the Loan Payments directly to amount in default shall have been fully paid, and the Trustee, as the assignee of the Authority under the Indenture, shall be evidenced by the Company’s Note substantially in the form of Exhibit B hereto, which shall be delivered concurrently with the delivery by the Authority of the Bonds. (c) Notwithstanding the foregoing, while Company will pay interest on any Credit Facility is in effect overdue amount with respect to principal of such Bond and, to the Bondsextent permitted by law, the Company’s obligation on any overdue amount with respect to make Loan Payments hereunder in respect of the principal of, and premium, if any, and accrued interest on such Bond, at the Bonds shall be deemed to have been satisfied to the extent that moneys shall have been paid interest rate then borne by a Credit Facility Issuer to the Trustee for such payment in respect of the Bonds, which amounts may be reimbursed by the Company directly to such Credit Facility Issuer, and no Event of Default shall occur hereunder by reason of any failure of the Company to make any such Loan Payment to the Trustee under subsection (a) above unless the Trustee is notified by the Credit Facility Issuer of the Company’s failure to have reimbursed the Credit Facility Issuer (if any) in accordance with the terms of the Credit FacilityBond until paid.

Loan Payments. (a) In consideration The Company shall pay to the Trustee, as assignee of the issuance, sale and delivery of the Bonds by the Authority, for deposit in the Company hereby agrees Bond Fund, the following sums on or before the dates specified, and each such payment is herein referred to pay as a “Loan Payment” or “loan payment”: (i) On each Interest Payment Date and on| each other date that any payment of principal, premium, if any, or interest is required to be made by the Authority with respect to the Trustee for the account of the Authority Loan Payments in such amounts and manner so as to enable the Trustee to make payment of Bonds, until the principal of, and premium, if any, and accrued interest on the Bonds as shall have been fully paid or provision for the same payment thereof shall become due and payable whether at stated maturity or by acceleration, redemption or otherwise have been made in accordance with the terms of Indenture, in immediately available funds, a sum which, together with any money available for such payment in the Bond Fund, will enable the Trustee to pay the amount due on such date for interest, premium, if any, or principal with respect to the Bonds as provided in the Indenture; provided, however, that the obligation of the Company to make any Loan Payment hereunder payment under this clause (i) shall be reduced by deemed satisfied and discharged to the amount extent the Bank shall have: honored a drawing against the Letter of any reduction under the Indenture of the amount of the corresponding payment required to be Credit made by the Authority Trustee with respect to the payment of the principal of or premium, if any, or interest on such amount due with respect to the Bonds. Pursuant to the Indenture, the Authority directs the Trustee to apply such Loan Payments in the manner provided in the Indenture. Whenever payment or provision for payment has been made in respect of the principal of, or premium, if any, and interest on all of the Bonds, the Loan Payments shall be deemed paid in full. (bii) The On each date that the Purchase Price of Bonds shall be due and payable, such amount as shall be necessary to enable the Tender Agent! to pay the Purchase Price of Bonds duly tendered to it for purchase, all as more particularly described in Sections 5.01, 5.03 and 5.04 of the Indenture; provided, however, that credit shall be given against the obligation equal to the money of the Company to make any payment under this clause (ii) in an amount available for such payment as described in subsection (i) or (ii) of Section 5.05(a) of the Indenture; and provided, further, that the obligation of the Company to make the Loan Payments directly any payment under this clause (ii) shall be deemed satisfied and discharged to the Trustee, as extent the assignee Bank shall have honored a drawing against the Letter of the Authority under the Indenture, shall be evidenced Credit made by the Company’s Note substantially in Trustee with respect to the form payment of Exhibit B hereto, which shall be delivered concurrently such amount due with the delivery by the Authority of respect to the Bonds. (ciii) Notwithstanding the foregoingAdditionally, while any Credit Facility is in effect with respect from time to the Bondstime, the Company’s obligation Company shall make such payments as shall be necessary to make Loan Payments hereunder up any deficiency in respect of or to fully fund the principal of, Project Fund established under the Indenture. It is understood and premium, if any, and accrued interest on agreed that all amounts payable by the Bonds shall be deemed to Company under this Section have been satisfied to assigned by the extent that moneys shall have been paid by a Credit Facility Issuer Authority to the Trustee for such payment in respect the benefit of the Owners of the Bonds, which amounts may be reimbursed by the . The Company directly consents to such Credit Facility Issuer, assignment and no Event of Default shall occur hereunder by reason of any failure of the Company agrees to make any payment of such Loan Payment amounts, when due, directly to the Trustee under subsection (a) above unless at its Designated Office, or at such other office of the Trustee is notified by as the Credit Facility Issuer of Trustee shall direct the Company’s failure to have reimbursed the Credit Facility Issuer (if any) Company in accordance with the terms of the Credit Facilitywriting.

Loan Payments. (a) In consideration As and for repayment of the issuance, sale and delivery of loan made to the Bonds Company by the AuthorityIssuer pursuant to Section 3.03 hereof, the Company hereby agrees to shall pay to the Trustee for the account of the Authority Loan Payments in Issuer an amount equal to the aggregate principal amount of and the premium, if any, on the Bonds from time to time Outstanding and, as interest on its obligation to pay such amount, an amount equal to interest on the Bonds, such amounts to be paid in installments due on the dates, in the amounts and in the manner so as to enable provided in the Trustee to make Indenture for the payment of the principal of, of and premium, if any, and accrued interest on the Bonds as the same shall become due and payable Bonds, whether at stated maturity maturity, upon redemption, acceleration or by acceleration, redemption or otherwise in accordance with the terms of the Indentureotherwise; provided, however, that the Company shall receive a credit for any moneys held by the Trustee under the Indenture and available for such payment; and provided further that the obligation of the Company to make any Loan Payment payment of principal or interest hereunder shall be reduced by deemed to be satisfied and discharged to the amount of any reduction under the Indenture of the amount extent of the corresponding payment required to be made by the Authority Company of the principal of or premium, if any, or interest on the Bonds. Pursuant First Mortgage Bonds and to the Indenture, extent of any payments made from Substitute Collateral. (b) In the Authority directs event the Trustee Company shall fail to apply such Loan Payments in the manner provided in the Indenture. Whenever make any payment or provision for payment has been made in required by Section 4.01(a) hereof with respect of to the principal of, or of and premium, if any, and interest on all of the Bondsany Bond, the Loan Payments payment so in default shall be deemed paid in full. (b) The continue as an obligation of the Company to make until the Loan Payments directly to amount in default shall have been fully paid, and the Trustee, as the assignee of the Authority under the Indenture, shall be evidenced by the Company’s Note substantially in the form of Exhibit B hereto, which shall be delivered concurrently with the delivery by the Authority of the Bonds. (c) Notwithstanding the foregoing, while Company will pay interest on any Credit Facility is in effect overdue amount with respect to principal of such Bond and, to the Bondsextent permitted by law, the Company’s obligation on any overdue amount with respect to make Loan Payments hereunder in respect of the principal of, and premium, if any, and accrued interest on such Bond, at the Bonds shall be deemed to have been satisfied to the extent that moneys shall have been paid interest rate borne by a Credit Facility Issuer to the Trustee for such payment in respect of the Bonds, which amounts may be reimbursed by the Company directly to such Credit Facility Issuer, and no Event of Default shall occur hereunder by reason of any failure of the Company to make any such Loan Payment to the Trustee under subsection (a) above unless the Trustee is notified by the Credit Facility Issuer of the Company’s failure to have reimbursed the Credit Facility Issuer (if any) in accordance with the terms of the Credit FacilityBond until paid.

Loan Payments. (a) In consideration The Company shall pay to the Trustee, as assignee of the issuance, sale and delivery of the Bonds by the Authority, for deposit in the Company hereby agrees Bond Fund, the following sums on or before the dates specified, and each such payment is herein referred to pay as a “Loan Payment” or “loan payment”: (i) On each Interest Payment Date and on each other date that any payment of principal, premium, if any, or interest is required to be made by the Authority with respect to the Trustee for the account of the Authority Loan Payments in such amounts and manner so as to enable the Trustee to make payment of Bonds, until the principal of, and o£ premium, if any, and accrued interest on the Bonds as shall have been My paid or provision for the same payment thereof shall become due and payable whether at stated maturity or by acceleration, redemption or otherwise have been made in accordance with the terms of Indenture, in immediately available funds, a sum which, together with any money available for such payment in the Bond Fund, will enable the Trustee to pay the amount due on such date for interest, premium, if any, or principal with respect to the Bonds as provided in the Indenture; provided, however, that the obligation of the Company to make any Loan Payment hereunder payment under this clause (i) shall be reduced by deemed satisfied and discharged to the amount extent the Bank shall have honored a drawing against the Letter of any reduction under the Indenture of the amount of the corresponding payment required to be Credit made by the Authority Trustee with respect to the payment of the principal of or premium, if any, or interest on such amount due with respect to the Bonds. Pursuant to the Indenture, the Authority directs the Trustee to apply such Loan Payments in the manner provided in the Indenture. Whenever payment or provision for payment has been made in respect of the principal of, or premium, if any, and interest on all of the Bonds, the Loan Payments shall be deemed paid in full. (bii) The On each date that the Purchase Price of Bonds shall be due and payable, such amount as shall be necessary to enable the Tender Agent to pay the Purchase Price of Bonds duly tendered to it for purchase, all as more particularly described in Sections 5.01, 5.03 and 5.04 of the Indenture; provided, however, that credit shall be given against the obligation of the Company to make the Loan Payments directly any payment under this clause (ii) in an amount equal to the Trustee, as the assignee of the Authority under the Indenture, shall be evidenced by the Company’s Note substantially in the form of Exhibit B hereto, which shall be delivered concurrently with the delivery by the Authority of the Bonds. (c) Notwithstanding the foregoing, while any Credit Facility is in effect with respect to the Bonds, the Company’s obligation to make Loan Payments hereunder in respect of the principal of, and premium, if any, and accrued interest on the Bonds shall be deemed to have been satisfied to the extent that moneys shall have been paid by a Credit Facility Issuer to the Trustee money available for such payment as described in respect subsection (i) or (ii) of Section 5.05(a) of the BondsIndenture; and provided, which amounts may be reimbursed by further, that the Company directly to such Credit Facility Issuer, and no Event of Default shall occur hereunder by reason of any failure obligation of the Company to make any payment under this clause (ii) shall be deemed satisfied and discharged to the extent the Bank shall have honored a drawing against the Letter of Credit made by the Trustee with respect to the payment of such Loan Payment amount due with respect to the Bonds. (iii) Additionally, from time to time, the Company shall make such payments as shall be necessary to make up any deficiency in or to fully fund the Project Fund established under the Indenture. It is understood and agreed that all amounts payable by the Company under this Section have been assigned by the Authority to the Trustee under subsection (a) above unless for the benefit of the Owners of the Bonds. The Company consents to such assignment and agrees to make payment of such amounts, when due, directly to the Trustee is notified by the Credit Facility Issuer at its Designated Office, or at such other office of the Company’s failure to have reimbursed Trustee as the Credit Facility Issuer (if any) Trustee shall direct the Company in accordance with the terms of the Credit Facilitywriting.

Loan Payments. (a) In consideration As and for repayment of the issuance, sale and delivery of loan made to the Bonds Company by the AuthorityIssuer pursuant to Section 3.03 hereof, the Company hereby agrees to shall pay to the Trustee for the account of the Authority Loan Payments in Issuer an amount equal to the aggregate principal amount of and the premium, if any, on each series of the Bonds from time to time Outstanding and, as interest on its obligation to pay such amount, an amount equal to interest on each series of the Bonds, such amounts to be paid in installments due on the dates, in the amounts and in the manner so as to enable provided in the Trustee to make Indenture for the payment of the principal of, of and premium, if any, and accrued interest on each series of the Bonds as the same shall become due and payable Bonds, whether at stated maturity maturity, upon redemption, acceleration or by acceleration, redemption or otherwise in accordance with the terms of the Indentureotherwise; provided, however, that the obligation of the Company to make any Loan Payment such payment hereunder shall be reduced by the amount of any reduction under the Indenture of the amount of the corresponding payment required to be made by the Authority Issuer on the Bonds of the related series thereunder; and provided further that the obligation of the Company to make any payment hereunder shall be deemed to be satisfied and discharged to the extent of the corresponding payment made (i) by the Bank to the Trustee under any Letter of Credit relating to a series of the Bonds, (ii) by the Obligor on an Alternate Credit Facility relating to a series of the Bonds to the Trustee under such Alternate Credit Facility or (iii) by the Company of principal of or premium, if any, or interest on the Bonds. Pursuant related Senior Notes. (b) In the event the Company shall fail to make any payment required by Section 4.01(a) hereof with respect to the Indenture, the Authority directs the Trustee to apply such Loan Payments in the manner provided in the Indenture. Whenever payment or provision for payment has been made in respect principal of the principal of, or and premium, if any, and interest on all of the Bondsany Bond, the Loan Payments payment so in default shall be deemed paid in full. (b) The continue as an obligation of the Company to make until the Loan Payments directly to amount in default shall have been fully paid, and the Trustee, as the assignee of the Authority under the Indenture, shall be evidenced by the Company’s Note substantially in the form of Exhibit B hereto, which shall be delivered concurrently with the delivery by the Authority of the Bonds. (c) Notwithstanding the foregoing, while Company will pay interest on any Credit Facility is in effect overdue amount with respect to principal of such Bond and, to the Bondsextent permitted by law, the Company’s obligation on any overdue amount with respect to make Loan Payments hereunder in respect of the principal of, and premium, if any, and accrued interest on such Bond, at the Bonds shall be deemed to have been satisfied to the extent that moneys shall have been paid interest rate borne by a Credit Facility Issuer to the Trustee for such payment in respect of the Bonds, which amounts may be reimbursed by the Company directly to such Credit Facility Issuer, and no Event of Default shall occur hereunder by reason of any failure of the Company to make any such Loan Payment to the Trustee under subsection (a) above unless the Trustee is notified by the Credit Facility Issuer of the Company’s failure to have reimbursed the Credit Facility Issuer (if any) in accordance with the terms of the Credit FacilityBond until paid.

Loan Payments. (a) In consideration As and for repayment of the issuance, sale and delivery of loan made to the Bonds Company by the AuthorityIssuer pursuant to Section 3.03 hereof, the Company hereby agrees to shall pay to the Trustee Trustee, for the account of the Authority Loan Payments in Issuer, an amount equal to the aggregate principal amount of and the premium, if any, on the Bonds from time to time Outstanding and, as interest on its obligation to pay such amount, an amount equal to interest on the Bonds, such amounts to be paid in installments due on the dates, in the amounts and in the manner so as to enable provided in the Trustee to make Indenture for the payment of the principal of, of and premium, if any, and accrued interest on the Bonds as the same shall become due and payable Bonds, whether at stated maturity maturity, upon redemption, acceleration or by acceleration, redemption or otherwise in accordance with the terms of the Indentureotherwise; provided, however, that the obligation of the Company to make any Loan Payment such payment hereunder shall be reduced by the amount of any reduction moneys held by the Trustee under the Indenture of and available for such payment. (b) In the amount of event the corresponding Company shall fail to make any payment required by Section 4.01 (a) hereof with respect to be made by the Authority of the principal of or premium, if any, or interest on the Bonds. Pursuant to the Indenture, the Authority directs the Trustee to apply such Loan Payments in the manner provided in the Indenture. Whenever payment or provision for payment has been made in respect of the principal of, or and premium, if any, and interest on all of any Bond the Bonds, the Loan Payments payment so in default shall be deemed paid in full. (b) The continue as an obligation of the Company to make until the Loan Payments directly to amount in default shall have been fully paid, and the Trustee, as the assignee of the Authority under the Indenture, shall be evidenced by the Company’s Note substantially in the form of Exhibit B hereto, which shall be delivered concurrently with the delivery by the Authority of the Bonds. (c) Notwithstanding the foregoing, while Company will pay interest on any Credit Facility is in effect overdue amount with respect to principal of such Bond and, to the Bondsextent permitted by law, the Company’s obligation on any overdue amount with respect to make Loan Payments hereunder in respect of the principal of, and premium, if any, and accrued interest on such Bond, at the Bonds shall be deemed to have been satisfied to the extent that moneys shall have been paid interest rate borne by a Credit Facility Issuer to the Trustee for such payment in respect of the Bonds, which amounts may be reimbursed by the Company directly to such Credit Facility Issuer, and no Event of Default shall occur hereunder by reason of any failure of the Company to make any such Loan Payment to the Trustee under subsection (a) above unless the Trustee is notified by the Credit Facility Issuer of the Company’s failure to have reimbursed the Credit Facility Issuer (if any) in accordance with the terms of the Credit FacilityBond until paid.

Loan Payments. (a) In consideration As and for repayment of the issuance, sale and delivery of loan made to the Bonds Company by the AuthorityIssuer pursuant to Section 3.03 hereof, the Company hereby agrees to shall pay to the Trustee Trustee, for the account of the Authority Loan Payments in Issuer, an amount equal to the aggregate principal amount of and the premium, if any, on the Bonds from time to time Outstanding and, as interest on its obligation to pay such amount, an amount equal to interest on the Bonds, such amounts to be paid in installments due on the dates, in the amounts and in the manner so as to enable provided in the Trustee to make Indenture for the payment of the principal of, of and premium, if any, and accrued interest on the Bonds as the same shall become due and payable Bonds, whether at stated maturity maturity, upon redemption, acceleration or by acceleration, redemption or otherwise in accordance with the terms of the Indentureotherwise; provided, however, that the obligation of the Company to make any Loan Payment such payment hereunder shall be reduced by the amount of any reduction moneys held by the Trustee under the Indenture and available for such payment; and provided, further, that the obligation of the amount Company to make any payment hereunder shall be deemed to be satisfied and discharged to the extent of the corresponding payment required made (i) by the Provider to the Trustee under the Credit Facility (unless the Credit Facility then in effect shall be an insurance policy, in which case such obligation of the Company shall not be deemed to be made satisfied and discharged) or (ii) by the Authority Company of principal of or premium, if any, or interest on any First Mortgage Bonds and any Additional Collateral that corresponds to the principal of or premium, if any, or interest on the Bonds. Pursuant . (b) In the event the Company shall fail to make any payment required by Section 4.01(a) hereof with respect to the Indenture, the Authority directs the Trustee to apply such Loan Payments in the manner provided in the Indenture. Whenever payment or provision for payment has been made in respect principal of the principal of, or and premium, if any, and interest on all of the Bondsany Bond, the Loan Payments payment so in default shall be deemed paid in full. (b) The continue as an obligation of the Company to make until the Loan Payments directly to amount in default shall have been fully paid, and the Trustee, as the assignee of the Authority under the Indenture, shall be evidenced by the Company’s Note substantially in the form of Exhibit B hereto, which shall be delivered concurrently with the delivery by the Authority of the Bonds. (c) Notwithstanding the foregoing, while Company will pay interest on any Credit Facility is in effect overdue amount with respect to principal of such Bond at the Bonds, the Company’s obligation to make Loan Payments hereunder in respect of the principal of, and premium, if any, and accrued interest on the Bonds shall be deemed to have been satisfied to the extent that moneys shall have been paid rate then borne by a Credit Facility Issuer to the Trustee for such payment in respect of the Bonds, which amounts may be reimbursed by the Company directly to such Credit Facility Issuer, and no Event of Default shall occur hereunder by reason of any failure of the Company to make any such Loan Payment to the Trustee under subsection (a) above unless the Trustee is notified by the Credit Facility Issuer of the Company’s failure to have reimbursed the Credit Facility Issuer (if any) in accordance with the terms of the Credit FacilityBond until paid.

Loan Payments. (a) In consideration The Company shall pay to the Trustee, as assignee of the issuance, sale and delivery of the Bonds by the Authority, for deposit in the Company hereby agrees Bond Fund, the following sums on or before the dates specified, and each such payment is herein referred to pay as a “Loan Payment” or “loan payment”: (i) On each Interest Payment Date and on each other date that any payment of principal, premium, if any, or interest is required to be made by the Authority with respect to the Trustee for the account of the Authority Loan Payments in such amounts and manner so as to enable the Trustee to make payment of Bonds, until the principal of, and premium, if any, and accrued interest on the Bonds as shall have been fully paid or provision for the same payment thereof shall become due and payable whether at stated maturity or by acceleration, redemption or otherwise have been made in accordance with the terms of Indenture, in immediately available funds, a sum which, together with any money available for such payment in the Bond Fund, will enable the Trustee to pay the amount due on such date for interest, premium, if any, or principal with respect to the Bonds as provided in the Indenture; provided, however, that the obligation of the Company to make any Loan Payment hereunder payment under this clause (i) shall be reduced by deemed satisfied and discharged to the amount extent the Bank shall have honored a drawing against the Letter of any reduction under the Indenture of the amount of the corresponding payment required to be Credit made by the Authority Trustee with respect to the payment of the principal of or premium, if any, or interest on such amount due with respect to the Bonds. Pursuant to the Indenture, the Authority directs the Trustee to apply such Loan Payments in the manner provided in the Indenture. Whenever payment or provision for payment has been made in respect of the principal of, or premium, if any, and interest on all of the Bonds, the Loan Payments shall be deemed paid in full. (bii) The On each date that the Purchase Price of Bonds shall be due and payable, such amount as shall be necessary to enable the Tender Agent to pay the Purchase Price of Bonds duly tendered to it for purchase, all as more particularly described in Sections 5.01, 5.03 and 5.04 of the Indenture; provided, however, that credit shall be given against the obligation of the Company to make the Loan Payments directly any payment under this clause (ii) in an amount equal to the Trustee, as the assignee of the Authority under the Indenture, shall be evidenced by the Company’s Note substantially in the form of Exhibit B hereto, which shall be delivered concurrently with the delivery by the Authority of the Bonds. (c) Notwithstanding the foregoing, while any Credit Facility is in effect with respect to the Bonds, the Company’s obligation to make Loan Payments hereunder in respect of the principal of, and premium, if any, and accrued interest on the Bonds shall be deemed to have been satisfied to the extent that moneys shall have been paid by a Credit Facility Issuer to the Trustee money available for such payment as described in respect subsection (i) or (ii) of Section 5.05(a) of the BondsIndenture; and provided, which amounts may be reimbursed by further, that the Company directly to such Credit Facility Issuer, and no Event of Default shall occur hereunder by reason of any failure obligation of the Company to make any payment under this clause (ii) shall be deemed satisfied and discharged to the extent the Bank shall have honored a drawing against the Letter of Credit made by the Trustee with respect to the payment of such Loan Payment amount due with respect to the Bonds. (iii) Additionally, from time to time, the Company shall make such payments as shall be necessary to make up any deficiency in or to fully fund the Project Fund established under the Indenture. It is understood and agreed that all amounts payable by the Company under this Section have been assigned by the Authority to the Trustee under subsection (a) above unless for the benefit of the Owners of the Bonds. The Company consents to such assignment and agrees to make payment of such amounts, when due, directly to the Trustee is notified by the Credit Facility Issuer at its Designated Office, or at such other office of the Company’s failure to have reimbursed Trustee as the Credit Facility Issuer (if any) Trustee shall direct the Company in accordance with the terms of the Credit Facilitywriting.