Common use of Money for Bond Payments to Be Held in Trust Clause in Contracts

Money for Bond Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent with respect to the Bonds of any series, or any Tranche thereof, it shall, on or before each due date of the principal of and premium, if any, and interest, if any, on any of such Bonds, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and premium or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided. The Company shall promptly notify the Trustee, in writing, of any failure by the Company (or any other obligor on such Bonds) to make any payment of principal of or premium, if any, or interest, if any, on such Bonds. Whenever the Company shall have one or more Paying Agents for the Bonds of any series, or any Tranche thereof, it shall, on or before each due date of the principal of and premium, if any, and interest, if any, on such Bonds, deposit with such Paying Agents sums sufficient (without duplication) to pay the principal and premium or interest so becoming due, such sums to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee) the Company shall promptly notify the Trustee, in writing, of any failure by it so to act. Upon their appointment as Paying Agent, the Company shall cause each Paying Agent for the Bonds of any series, or any Tranche thereof, other than the Company or the Trustee, to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent shall:

Money for Bond Payments to Be Held in Trust. If All payments of amounts due and payable with respect to any Bonds which are to be made from amounts withdrawn from the Company related Bond Account pursuant to Section 8.02(b) shall at any time act be made on behalf of the Issuer by the Indenture Trustee or another Paying Agent, and, except as its own provided in the related Terms Indenture, no amounts so withdrawn from a Bond Account for payments of Bonds shall be paid over to the Issuer except as provided in this Section 3.03 or as provided in Section 5.06 or 8.02 (and, in either such case, the related Terms Indenture). Any Paying Agent other than the Indenture Trustee shall be appointed by Issuer Order. The Issuer shall not appoint any Paying Agent that does not, at the time of such appointment, meet the qualification and eligibility standards for an Indenture Trustee set forth in Section 6.08. If, with respect to any Series, either (i) no other Paying Agent shall have been so appointed and shall have executed and delivered the instrument provided for in the second following paragraph or (iii) any such other Paying Agent shall have resigned or been discharged without a successor having been so appointed and having executed and delivered the instrument provided for in the second following paragraph, then the Indenture Trustee shall be the Paying Agent for such Series. Whenever the Issuer shall have one or more Paying Agents, it will deliver or contract to have delivered to such Paying Agent or Agents (subject to Section 2.07(g)), on or before the Business Day next preceding each Payment Date, Redemption Date and Special Redemption Date for each Series, an aggregate sum sufficient to pay the amounts then becoming due with respect to the Bonds of any series, or any Tranche thereof, it shall, on or before each due date of the principal of and premium, if any, and interest, if any, on any of such Bonds, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and premium or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided. The Company shall promptly notify the Trustee, in writing, of any failure by the Company (or any other obligor on such Bonds) to make any payment of principal of or premium, if any, or interest, if any, on such Bonds. Whenever the Company shall have one or more Paying Agents for the Bonds of any series, or any Tranche thereof, it shall, on or before each due date of the principal of and premium, if any, and interest, if any, on such Bonds, deposit with such Paying Agents sums sufficient (without duplication) to pay the principal and premium or interest so becoming dueSeries, such sums sum to be deposited in the Bond Account and held in trust for the benefit of the Persons entitled to such principal, premium or interestthereto, and (unless such Paying Agent is the Indenture Trustee) the Company shall Issuer will promptly notify the Trustee, in writing, Indenture Trustee of any its action or failure by it so to act. Upon their appointment as Any monies deposited with a Paying Agent, the Company shall cause each Paying Agent for the Bonds of any series, or any Tranche thereof, other than the Company or the Indenture Trustee, in excess of an amount sufficient to pay the amounts then becoming due and payable on the Bonds with respect to which such deposit was made shall be retained by such Paying Agent or Agents for application in accordance with Article VIII. The Issuer will cause each such Paying Agent (other than the Indenture Trustee) to execute and deliver to the Indenture Trustee an instrument in which such Paying Agent shall agree with the TrusteeIndenture Trustee (and if the Indenture Trustee acts as Paying Agent, it hereby so agrees), subject to the provisions of this SectionSection 3.03, that such Paying Agent shallwill:

Money for Bond Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent with respect to the Bonds of any series, or any Tranche thereof, it shall, on or before each due date of the principal of and premium, if any, and interest, if any, on any of such Bonds, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and premium or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided. The Company shall promptly notify the Trustee, in writing, Trustee of any failure by the Company (or any other obligor on such Bonds) to make any payment of principal of or premium, if any, or interest, if any, on such Bonds. Whenever the Company shall have one or more Paying Agents for the Bonds of any series, or any Tranche thereof, it shall, on or before each due date of the principal of and premium, if any, and interest, if any, on such Bonds, deposit with such Paying Agents sums sufficient (without duplication) to pay the principal and premium or interest so becoming due, such sums to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee) the Company shall promptly notify the Trustee, in writing, Trustee of any failure by it so to act. Upon their appointment as Paying Agent, the Company shall cause each Paying Agent for the Bonds of any series, or any Tranche thereof, other than the Company or the Trustee, to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent shall:

Money for Bond Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent All payments of amounts due and payable with respect to any Bonds that are to be made from amounts withdrawn from the Bond Account pursuant to Section 8.02(c) or Section 5.07 shall be made on behalf of the Issuer by the Paying Agent, and no amounts so withdrawn from the Bond Account for payments of Bonds shall be paid over to the Issuer under any circumstances except as provided in this Section 3.03 or in Section 5.07 or Section 8.02. With respect to Definitive Bonds, if the Issuer shall have a Paying Agent that is not also the Bond Registrar, such Bond Registrar shall furnish, no later than the fifth calendar day after each Record Date, a list, in such form as such Paying Agent may reasonably require, of any series, or any Tranche thereofthe names and addresses of the Holders of Bonds and of the number of Individual Bonds held by each such Holder. Whenever the Issuer shall have a Paying Agent other than the Indenture Trustee, it shallwill, on or before the Business Day next preceding each due date of Payment Date direct the principal of and premium, if any, and interest, if any, on any of Indenture Trustee to deposit with such Bonds, segregate and hold in trust for the benefit of the Persons entitled thereto a Paying Agent an aggregate sum sufficient to pay the principal and premium or interest so amounts then becoming due until (to the extent funds are then available for such sums shall be paid to such Persons or otherwise disposed of as herein provided. The Company shall promptly notify purpose in the Trustee, in writing, of any failure by the Company (or any other obligor on such Bonds) to make any payment of principal of or premium, if any, or interest, if any, on such Bonds. Whenever the Company shall have one or more Paying Agents for the Bonds of any series, or any Tranche thereof, it shall, on or before each due date of the principal of and premium, if any, and interest, if any, on such Bonds, deposit with such Paying Agents sums sufficient (without duplication) to pay the principal and premium or interest so becoming dueBond Account), such sums sum to be held in trust for the benefit of the Persons entitled thereto. Any moneys deposited with a Paying Agent in excess of an amount sufficient to pay the amounts then becoming due on the Bonds with respect to which such principaldeposit was made shall, premium or interestupon Issuer Order, and (unless be paid over by such Paying Agent is to the Indenture Trustee for application in accordance with Article VIII. Any Paying Agent other than the Indenture Trustee shall be appointed by Issuer Order and at the expense of the Issuer. The Issuer shall not appoint any Paying Agent (other than the Indenture Trustee) that is not, at the Company shall promptly notify time of such appointment, a depository institution or trust company whose obligations would be Permitted Investments pursuant to clause (c) of the Trustee, in writing, definition of any failure by it so to actthe term Permitted Investments. Upon their appointment as Paying Agent, the Company shall The Issuer will cause each Paying Agent for the Bonds of any series, or any Tranche thereof, other than the Company or the Trustee, Indenture Trustee to execute and deliver to the Indenture Trustee an instrument in which such Paying Agent shall agree with the TrusteeIndenture Trustee (and if the Indenture Trustee acts as Paying Agent, it hereby so agrees), subject to the provisions of this Section, that such Paying Agent shallwill:

Money for Bond Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent All payments of amounts due and payable with respect to any Bonds that are to be made from amounts withdrawn from the Bond Account pursuant to Section 8.02(c) or Section 5.07 shall be made on behalf of the Issuer by the Paying Agent, and no amounts so withdrawn from the Bond Account for payments of Bonds shall be paid over to the Issuer under any circumstances except as provided in this Section 3.03 or in Section 5.07 or Section 8.02. With respect to Definitive Bonds, if the Issuer shall have a Paying Agent that is not also the Bond Registrar, such Bond Registrar shall furnish, no later than the fifth calendar day after each Record Date, a list, in such form as such Paying Agent may reasonably require, of any series, or any Tranche thereofthe names and addresses of the Holders of Bonds and of the number of Individual Bonds held by each such Holder. Whenever the Issuer shall have a Paying Agent other than the Indenture Trustee, it shallwill, on or before the Business Day next preceding each due date of Payment Date direct the principal of and premium, if any, and interest, if any, on any of Indenture Trustee to deposit with such Bonds, segregate and hold in trust for the benefit of the Persons entitled thereto a Paying Agent an aggregate sum sufficient to pay the principal and premium or interest so amounts then becoming due until (to the extent funds are then available for such sums shall be paid to such Persons or otherwise disposed of as herein provided. The Company shall promptly notify purpose in the Trustee, in writing, of any failure by the Company (or any other obligor on such Bonds) to make any payment of principal of or premium, if any, or interest, if any, on such Bonds. Whenever the Company shall have one or more Paying Agents for the Bonds of any series, or any Tranche thereof, it shall, on or before each due date of the principal of and premium, if any, and interest, if any, on such Bonds, deposit with such Paying Agents sums sufficient (without duplication) to pay the principal and premium or interest so becoming dueBond Account), such sums sum to be held in trust for the benefit of the Persons entitled thereto. Any moneys deposited with a Paying Agent in excess of an amount sufficient to pay the amounts then becoming due on the Bonds with respect to which such principaldeposit was made shall, premium or interestupon Issuer Order, and (unless be paid over by such Paying Agent is to the Indenture Trustee for application in accordance with Article VIII. Subject to the prior consent of the Bond Insurer, any Paying Agent other than the Indenture Trustee shall be appointed by Issuer Order and at the expense of the Issuer. The Issuer shall not appoint any Paying Agent (other than the Indenture Trustee) that is not, at the Company shall promptly notify time of such appointment, a depository institution or trust company whose obligations would be Permitted Investments pursuant to clause (c) of the Trustee, in writing, definition of any failure by it so to actthe term Permitted Investments. Upon their appointment as Paying Agent, the Company shall The Issuer will cause each Paying Agent for the Bonds of any series, or any Tranche thereof, other than the Company or the Trustee, Indenture Trustee to execute and deliver to the Indenture Trustee an instrument in which such Paying Agent shall agree with the TrusteeIndenture Trustee (and if the Indenture Trustee acts as Paying Agent, it hereby so agrees), subject to the provisions of this Section, that such Paying Agent shallwill:

Money for Bond Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent All payments of amounts due and payable with respect to any Bonds which are to be made from amounts withdrawn from the Bonds of any series, or any Tranche thereof, it shall, related Bond Account pursuant to Section 8.02(b) shall be made on or before each due date behalf of the principal of and premium, if anyIssuer by the Indenture Trustee or another Paying Agent, and interest, if any, on any no amounts so withdrawn from a Bond Account for payments of such Bonds, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and premium or interest so becoming due until such sums Bonds shall be paid over to such Persons the Issuer except as provided in this Section 3.03 or otherwise disposed of as herein providedprovided in Section 5.06 or 8.02. Any Paying Agent other than the Indenture Trustee shall be appointed by Issuer Order. The Company Issuer shall promptly notify not appoint any Paying Agent that does not, at the Trusteetime of such appointment, meet the qualification and eligibility standards for an Indenture Trustee set forth in writingSection 6.08. If, of either (i) no other Paying Agent shall have been so appointed and shall have executed and delivered the instrument provided for in the second following paragraph or (iii) any failure by such other Paying Agent shall have resigned or been discharged without a successor having been so appointed and having executed and delivered the Company (or any other obligor on such Bonds) to make any payment of principal of or premiuminstrument provided for in the second following paragraph, if any, or interest, if any, on such Bondsthen the Indenture Trustee shall be the Paying Agent. Whenever the Company Issuer shall have one or more Paying Agents for the Bonds of any series, or any Tranche thereofAgents, it shallwill deliver or contract to have delivered to such Paying Agent or Agents (subject to Section 2.07(g)), on or before the Business Day next preceding each due date of the principal of Payment Date, Redemption Date and premiumSpecial Redemption Date, if any, and interest, if any, on such Bonds, deposit with such Paying Agents sums an aggregate sum sufficient (without duplication) to pay the principal and premium or interest so amounts then becoming duedue with respect to the Bonds, such sums sum to be deposited in the Bond Account and held in trust for the benefit of the Persons entitled to such principal, premium or interestthereto, and (unless such Paying Agent is the Indenture Trustee) the Company shall Issuer will promptly notify the Trustee, in writing, Indenture Trustee of any its action or failure by it so to act. Upon their appointment as Any monies deposited with a Paying Agent, the Company shall cause each Paying Agent for the Bonds of any series, or any Tranche thereof, other than the Company or the Indenture Trustee, in excess of an amount sufficient to pay the amounts then becoming due and payable on the Bonds with respect to which such deposit was made shall be retained by such Paying Agent or Agents for application in accordance with Article VIII. The Issuer will cause each such Paying Agent (other than the Indenture Trustee) to execute and deliver to the Indenture Trustee an instrument in which such Paying Agent shall agree with the TrusteeIndenture Trustee (and if the Indenture Trustee acts as Paying Agent, it hereby so agrees), subject to the provisions of this SectionSection 3.03, that such Paying Agent shallwill:

Money for Bond Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent All payments of amounts due and payable with respect to any Bonds which are to be made from amounts withdrawn from the Distribution Account pursuant to Section 8.02(c) or Section 5.08 shall be made on behalf of the Issuer by the Trustee or by a Paying Agent, and no amounts so withdrawn from the Distribution Account for payments of Bonds shall be paid over to the Issuer under any circumstances except as provided in this Section 3.03 or in Section 5.08. If the Issuer shall have a Paying Agent that is not also the Bond Registrar, it shall furnish, or cause the Bond Registrar to furnish, no later than the fifth calendar day after each Record Date, and the first Business Day after the Redemption Record Date applicable to the Redemption Date, a list, in such form as such Paying Agent may reasonably require, of the names and addresses of the Holders of Bonds and of the number of Individual Bonds of any series, or any Tranche thereofeach Class held by each such Holder. Whenever the Issuer shall have a Paying Agent other than the Trustee, it shall, on or before the Business Day next preceding each due date of Payment Date and Redemption Date, direct the principal of and premium, if any, and interest, if any, on any of Trustee in writing to deposit with such Bonds, segregate and hold in trust for the benefit of the Persons entitled thereto a Paying Agent an aggregate sum sufficient to pay the principal and premium or interest so amounts then becoming due until (to the extent funds are then available for such sums shall be paid to such Persons or otherwise disposed of as herein provided. The Company shall promptly notify purpose in the Trustee, in writing, of any failure by the Company (or any other obligor on such Bonds) to make any payment of principal of or premium, if any, or interest, if any, on such Bonds. Whenever the Company shall have one or more Paying Agents for the Bonds of any series, or any Tranche thereof, it shall, on or before each due date of the principal of and premium, if any, and interest, if any, on such Bonds, deposit with such Paying Agents sums sufficient (without duplication) to pay the principal and premium or interest so becoming dueDistribution Account), such sums sum to be held in trust for the benefit of the Persons entitled thereto. Any moneys deposited with a Paying Agent in excess of an amount sufficient to pay the amounts then becoming due on the Bonds with respect to which such principaldeposit was made shall, premium or interestupon Issuer Order, and (unless be paid over by such Paying Agent is the Trustee) the Company shall promptly notify the Trustee, in writing, of any failure by it so to act. Upon their appointment as Paying Agent, the Company shall cause each Paying Agent for the Bonds of any series, or any Tranche thereof, other than the Company or the Trustee, to execute and deliver to the Trustee an instrument for application in which such Paying Agent shall agree accordance with the Trustee, subject to the provisions of this Section, that such Paying Agent shall:Article VIII.

Money for Bond Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent All payments of amounts due and payable with respect to any Bonds that are to be made from amounts withdrawn from the Distribution Account pursuant to Section 8.02(c) or Section 5.07 shall be made on behalf of the Issuer by the Paying Agent, and no amounts so withdrawn from the Distribution Account for payments of Bonds shall be paid over to the Issuer under any circumstances except as provided in this Section 3.03 or in Section 5.07 or Section 8.02. With respect to Definitive Bonds, if the Issuer shall have a Paying Agent that is not also the Bond Registrar, such Bond Registrar shall furnish, no later than the fifth calendar day after each Record Date, a list, in such form as such Paying Agent may reasonably require, of any series, or any Tranche thereofthe names and addresses of the Holders of Bonds and of the number of Individual Bonds held by each such Holder. Whenever the Issuer shall have a Paying Agent other than the Indenture Trustee, it shallwill, on or before the Business Day next preceding each due date of Payment Date direct the principal of and premium, if any, and interest, if any, on any of Indenture Trustee to deposit with such Bonds, segregate and hold in trust for the benefit of the Persons entitled thereto a Paying Agent an aggregate sum sufficient to pay the principal and premium or interest so amounts then becoming due until (to the extent funds are then available for such sums shall be paid to such Persons or otherwise disposed of as herein provided. The Company shall promptly notify purpose in the Trustee, in writing, of any failure by the Company (or any other obligor on such Bonds) to make any payment of principal of or premium, if any, or interest, if any, on such Bonds. Whenever the Company shall have one or more Paying Agents for the Bonds of any series, or any Tranche thereof, it shall, on or before each due date of the principal of and premium, if any, and interest, if any, on such Bonds, deposit with such Paying Agents sums sufficient (without duplication) to pay the principal and premium or interest so becoming dueDistribution Account), such sums sum to be held in trust for the benefit of the Persons entitled thereto. Any moneys deposited with a Paying Agent in excess of an amount sufficient to pay the amounts then becoming due on the Bonds with respect to which such principaldeposit was made shall, premium or interestupon Issuer Order, and (unless be paid over by such Paying Agent is to the Indenture Trustee for application in accordance with Article VIII. Subject to the prior consent of the Bond Insurer, any Paying Agent other than the Indenture Trustee may be appointed by Issuer Order and at the expense of the Issuer. The Issuer shall not appoint any Paying Agent (other than the Indenture Trustee) that is not, at the Company shall promptly notify time of such appointment, a depository institution or trust company whose obligations would be Permitted Investments pursuant to clause (c) of the Trustee, in writing, definition of any failure by it so to actthe term Permitted Investments. Upon their appointment as Paying Agent, the Company shall The Issuer will cause each Paying Agent for the Bonds of any series, or any Tranche thereof, other than the Company or the Trustee, Indenture Trustee to execute and deliver to the Indenture Trustee an instrument in which such Paying Agent shall agree with the TrusteeIndenture Trustee (and if the Indenture Trustee acts as Paying Agent, it hereby so agrees), subject to the provisions of this Section, that such Paying Agent shallwill:

Money for Bond Payments to Be Held in Trust. (1) The Company hereby appoints the Trustee as the initial Paying Agent for amounts due on the Bonds. The Company may appoint any other Person to act as Paying Agent to perform all functions of Paying Agent under this Indenture, as fully to all intents and purposes as though the Paying Agent has been expressly authorized to perform such functions. Whenever the Company shall have one or more Paying Agents, the Trustee shall, prior to each due date of the principal of or any premium or interest on any Bonds, deposit with such Paying Agent a sum sufficient to pay such amount, such sum to be held in trust pursuant to this Indenture. If the Company shall at any time act as its own Paying Agent with respect to the Bonds of any series, or any Tranche thereofBonds, it shall, on or before each due date of the principal of and premium, if any, and interest, if any, or any premium or interest on any of such the Bonds, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient the proceeds deposited with it pursuant to pay the principal and premium or interest so becoming due preceding paragraph until such sums shall be paid to such Persons or otherwise disposed of as herein provided. The Company shall in this Indenture provided and will promptly notify the Trustee, Trustee and the Insurer (so long as no Insurer Default has occurred and in writing, continuing) of any its action or failure by the Company (or any other obligor on such Bonds) to make any payment of principal of or premium, if any, or interest, if any, on such Bonds. Whenever the Company shall have one or more Paying Agents for the Bonds of any series, or any Tranche thereof, it shall, on or before each due date of the principal of and premium, if any, and interest, if any, on such Bonds, deposit with such Paying Agents sums sufficient (without duplication) to pay the principal and premium or interest so becoming due, such sums to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee) the Company shall promptly notify the Trustee, in writing, of any failure by it so to act. Upon their appointment as Paying Agent, the The Company shall cause each Paying Agent for the Bonds of any series, or any Tranche thereof, other than the Company or the Trustee, Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this SectionSection 11.03, that such Paying Agent shall:will (i) comply with the provisions of this Indenture applicable to it as a Paying Agent; (ii) hold all sums held by it for the payment of amounts due with respect to the Bonds in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as in this Indenture provided and pay such sums to such Persons as in this Indenture provided; (iii) give the Trustee, with a copy to the Insurer (so long as no Insurer Default has occurred and in continuing), prompt notice of any default by the Company of which it has actual knowledge in the making of any payment required to be made with respect to the Bonds; and (iv) during the continuance of any default by the Company (or any other obligor upon the Bonds) in the making of any payment in respect of the Bonds, upon the written request of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent as such. The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money.

Money for Bond Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent All payments of amounts due and payable with respect to any Bonds that are to be made from amounts withdrawn from the Bond Account pursuant to Section 8.02(c) or Section 5.07 shall be made on behalf of the Issuer by the Paying Agent, and no amounts so withdrawn from the Bond Account for payments of Bonds of shall be paid over to the Issuer under any seriescircumstances except as provided in this Section 3.03 or in Section 5.07 or Section 8.02. If the Issuer shall have a Paying Agent that is not also the Bond Registrar, it shall furnish, or any Tranche thereofcause the Bond Registrar to furnish, no later than the fifth calendar day after each Record Date, a list, in such form as such Paying Agent may reasonably require, of the names and addresses of the Holders of Bonds and of the number of Individual Bonds held by each such Holder. Whenever the Issuer shall have a Paying Agent other than the Indenture Trustee, it shallwill, on or before the Business Day next preceding each due date of Payment Date direct the principal of and premium, if any, and interest, if any, on any of Indenture Trustee to deposit with such Bonds, segregate and hold in trust for the benefit of the Persons entitled thereto a Paying Agent an aggregate sum sufficient to pay the principal and premium or interest so amounts then becoming due until (to the extent funds are then available for such sums shall be paid to such Persons or otherwise disposed of as herein provided. The Company shall promptly notify purpose in the Trustee, in writing, of any failure by the Company (or any other obligor on such Bonds) to make any payment of principal of or premium, if any, or interest, if any, on such Bonds. Whenever the Company shall have one or more Paying Agents for the Bonds of any series, or any Tranche thereof, it shall, on or before each due date of the principal of and premium, if any, and interest, if any, on such Bonds, deposit with such Paying Agents sums sufficient (without duplication) to pay the principal and premium or interest so becoming dueBond Account), such sums sum to be held in trust for the benefit of the Persons entitled thereto. Any moneys deposited with a Paying Agent in excess of an amount sufficient to pay the amounts then becoming due on the Bonds with respect to which such principaldeposit was made shall, premium or interestupon Issuer Order, and (unless be paid over by such Paying Agent is to the Indenture Trustee for application in accordance with Article VIII. Any Paying Agent other than the Indenture Trustee shall be appointed by Issuer Order and at the expense of the Issuer. The Issuer shall not appoint any Paying Agent (other than the Indenture Trustee) that is not, at the Company shall promptly notify time of such appointment, a depository institution or trust company whose obligations would be Permitted Investments pursuant to clause (c) of the Trustee, in writing, definition of any failure by it so to actthe term Permitted Investments. Upon their appointment as Paying Agent, the Company shall The Issuer will cause each Paying Agent for the Bonds of any series, or any Tranche thereof, other than the Company or the Trustee, Indenture Trustee to execute and deliver to the Indenture Trustee an instrument in which such Paying Agent shall agree with the TrusteeIndenture Trustee (and if the Indenture Trustee acts as Paying Agent, it hereby so agrees), subject to the provisions of this Section, that such Paying Agent shallwill:

Money for Bond Payments to Be Held in Trust. If All moneys deposited with the Company shall at Trustee or with any time act as its own Paying Agent with respect to for the Bonds purpose of any series, or any Tranche thereof, it shall, on or before each due date of paying the principal of and premium, if any, and interest, if any, on any of such Bonds, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and or premium or interest so becoming due until such sums on Bonds shall be paid to such Persons or otherwise disposed of as herein provided. The Company shall promptly notify the Trustee, in writing, of any failure by the Company (or any other obligor on such Bonds) to make any payment of principal of or premium, if any, or interest, if any, on such Bonds. Whenever the Company shall have one or more Paying Agents for the Bonds of any series, or any Tranche thereof, it shall, on or before each due date of the principal of deposited and premium, if any, and interest, if any, on such Bonds, deposit with such Paying Agents sums sufficient (without duplication) to pay the principal and premium or interest so becoming due, such sums to be held in trust for the benefit of the Persons Holders of the Bonds entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee) the Company shall promptly notify the Trustee, in writing, of any failure by it so to act. Upon their appointment as Paying Agent, the Company shall cause each Paying Agent for the Bonds of any series, or any Tranche thereof, other than the Company or the Trustee, to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this SectionIndenture. Moneys so deposited and held in trust shall not be a part of the Pledged Property but shall constitute a separate trust fund for the benefit of the Holders of the relevant Bonds. The Company may at any time direct any Paying Agent to pay to the Trustee all sums held in trust by such Paying Agent, that such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by such Paying Agent, and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall:shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent in trust for the payment of the principal of (and premium, if any) or interest on any Bond and remaining unclaimed for two years and eleven months (or such lesser period as may be required by law to give effect to this provision) after such principal (and premium, if any) or interest has become due and payable shall be paid to the Company on Company Request (to the extent such monies shall have been deposited by the Company) or to any other Person on its request (to the extent such monies shall have been deposited by such other Person), and the Holder of such Bond shall thereafter, as an unsecured general creditor, look only to the Company or such other Person, to the extent such monies shall have been paid to the Company or such other Person, as the case may be, for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company or, to the extent such monies are to be paid to another Person, such other Person cause to be mailed to each such Holder notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such mailing, any unclaimed balance of such money then remaining will be repaid to the Company or such other Person.

Money for Bond Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent All payments of amounts due and payable with respect to any Bonds which are to be made from amounts withdrawn from the Distribution Account pursuant to Sections 2.03(b) and 8.02(c) or Section 5.08 shall be made on behalf of the Issuer by the Paying Agent, and no amounts so withdrawn from the Distribution Account for payments of Bonds shall be paid over to the Issuer under any circumstances except as provided in this Section 3.03 or in Section 5.08. If the Issuer shall have a Paying Agent that is not also the Bond Registrar, it shall furnish, or cause the Bond Registrar to furnish, no later than the fifth calendar day after each Record Date, and the first Business Day after the Redemption Record Date applicable to the Redemption Date, a list, in such form as such Paying Agent may reasonably require, of the names and addresses of the Holders of Bonds and of the number of Individual Bonds of any series, or any Tranche thereofeach Class held by each such Holder. Whenever the Issuer shall have a Paying Agent other than the Master Servicer, it shall, on or before the Business Day next preceding each due date of Payment Date and Redemption Date, direct the principal of and premiumMaster Servicer in writing to deposit with such Paying Agent, if anyto the extent received by the Master Servicer, and interest, if any, on any of such Bonds, segregate and hold in trust for the benefit of the Persons entitled thereto a an aggregate sum sufficient to pay the principal and premium or interest so amounts then becoming due until (to the extent funds are then available for such sums shall be paid to such Persons or otherwise disposed of as herein provided. The Company shall promptly notify purpose in the Trustee, in writing, of any failure by the Company (or any other obligor on such Bonds) to make any payment of principal of or premium, if any, or interest, if any, on such Bonds. Whenever the Company shall have one or more Paying Agents for the Bonds of any series, or any Tranche thereof, it shall, on or before each due date of the principal of and premium, if any, and interest, if any, on such Bonds, deposit with such Paying Agents sums sufficient (without duplication) to pay the principal and premium or interest so becoming dueDistribution Account), such sums sum to be held in trust for the benefit of the Persons entitled thereto. Any moneys deposited with a Paying Agent in excess of an amount sufficient to pay the amounts then becoming due on the Bonds with respect to which such principaldeposit was made shall, premium or interestupon Issuer Order, and (unless be paid over by such Paying Agent to the Master Servicer for application in accordance with Article VIII. Any Paying Agent other than the initial Paying Agent shall be appointed by Issuer Order. The Issuer shall not appoint any successor Paying Agent which is not, at the Trusteetime of such appointment, a depository institution or trust company whose obligations would be Permitted Investments pursuant to clause (iv) of the Company shall promptly notify definition of the Trustee, in writing, of any failure by it so to actterm “Permitted Investments”. Upon their appointment as Paying Agent, the Company The Issuer shall cause each successor Paying Agent for the Bonds of any series, or any Tranche thereof, other than the Company or the Trustee, Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the TrusteeTrustee (and if the Trustee acts as Paying Agent, it hereby so agrees), subject to the provisions of this Section, that such Paying Agent shall:

Money for Bond Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent All payments of amounts due and payable with respect to any Bonds which are to be made from amounts withdrawn from the Distribution Account pursuant to Section 8.02(c) or Section 5.08 shall be made on behalf of the Issuer by the Trustee or by a Paying Agent, and no amounts so withdrawn from the Distribution Account for payments of Bonds shall be paid over to the Issuer under any circumstances except as provided in this Section 3.03 or in Section 5.08. If the Issuer shall have a Paying Agent that is not also the Bond Registrar, it shall furnish, or cause the Bond Registrar to furnish, no later than the fifth calendar day after each Record Date or the first Business Day after a Record Date applicable to a Payment Date on which the Bonds will be redeemed in full, a list, in such form as such Paying Agent may reasonably require, of any series, or any Tranche thereofthe names and addresses of the Holders of Bonds and of the number of Individual Bonds of each Class held by each such Holder. Whenever the Issuer shall have a Paying Agent other than the Trustee, it shallwill, on or before the Business Day next preceding each due date of Payment Date, direct the principal of and premium, if any, and interest, if any, on any of Trustee to deposit with such Bonds, segregate and hold in trust for the benefit of the Persons entitled thereto a Paying Agent an aggregate sum sufficient to pay the principal and premium or interest so amounts then becoming due until (to the extent funds are then available for such sums shall be paid to such Persons or otherwise disposed of as herein provided. The Company shall promptly notify purpose in the Trustee, in writing, of any failure by the Company (or any other obligor on such Bonds) to make any payment of principal of or premium, if any, or interest, if any, on such Bonds. Whenever the Company shall have one or more Paying Agents for the Bonds of any series, or any Tranche thereof, it shall, on or before each due date of the principal of and premium, if any, and interest, if any, on such Bonds, deposit with such Paying Agents sums sufficient (without duplication) to pay the principal and premium or interest so becoming dueDistribution Account), such sums sum to be held in trust for the benefit of the Persons entitled thereto. Any moneys deposited with a Paying Agent in excess of an amount sufficient to pay the amounts then becoming due on the Bonds with respect to which such principaldeposit was made shall, premium or interestupon Issuer Order, and (unless be paid over by such Paying Agent is to the Trustee) the Company shall promptly notify the Trustee, Trustee for application in writing, of any failure by it so to actaccordance with Article VIII. Upon their appointment as Paying Agent, the Company shall cause each Any Paying Agent for the Bonds of any series, or any Tranche thereof, other than the Company or the Trustee, to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trusteebe appointed by Issuer Order, subject to MBIA's written consent, provided, that, no MBIA Default shall have occurred and be continuing. The Trustee is hereby appointed as the provisions of this Section, that such Paying Agent shall:initial

Money for Bond Payments to Be Held in Trust. If All payments of amounts due and payable with respect to any Bonds which are to be made from amounts withdrawn from the Company related Bond Account pursuant to Section 8.02(b) shall at any time act be made on behalf of the Issuer by the Indenture Trustee or another Paying Agent, and, except as its own provided in the related Terms Indenture, no amounts so withdrawn from a Bond Account for payments of Bonds shall be paid over to the Issuer except as provided in this Section 3.03 or as provided in Section 5.06 and 8.02 (and the related Terms Indenture). Any Paying Agent other than the Indenture Trustee shall be appointed by Issuer Order. The Issuer shall not appoint any Paying Agent that does not, at the time of such appointment, meet the qualification and eligibility standards for an Indenture Trustee set forth in Section 6.08. If, with respect to any Series, either (i) no other Paying Agent shall have been so appointed and shall have executed and delivered the instrument provided for in the second following paragraph or (iii) any such other Paying Agent shall have resigned or been discharged without a successor having been so appointed and having executed and delivered the instrument provided for in the second following paragraph, then the Indenture Trustee shall be the Paying Agent for such Series. Whenever the Issuer shall have one or more Paying Agents, it will deliver or contract to have delivered to such Paying Agent or Agents (subject to Section 2.07(g)), on or before the Business Day next preceding each Payment Date, Redemption Date and Special Redemption Date for each Series, an aggregate sum sufficient to pay the amounts then becoming due with respect to the Bonds of any series, or any Tranche thereof, it shall, on or before each due date of the principal of and premium, if any, and interest, if any, on any of such Bonds, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and premium or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided. The Company shall promptly notify the Trustee, in writing, of any failure by the Company (or any other obligor on such Bonds) to make any payment of principal of or premium, if any, or interest, if any, on such Bonds. Whenever the Company shall have one or more Paying Agents for the Bonds of any series, or any Tranche thereof, it shall, on or before each due date of the principal of and premium, if any, and interest, if any, on such Bonds, deposit with such Paying Agents sums sufficient (without duplication) to pay the principal and premium or interest so becoming dueSeries, such sums sum to be deposited in the Bond Account and held in trust for the benefit of the Persons entitled to such principal, premium or interestthereto, and (unless such Paying Agent is the Indenture Trustee) the Company shall Issuer will promptly notify the Trustee, in writing, Indenture Trustee of any its action or failure by it so to act. Upon their appointment as Any monies deposited with a Paying Agent, the Company shall cause each Paying Agent for the Bonds of any series, or any Tranche thereof, other than the Company or the Indenture Trustee, in excess of an amount sufficient to pay the amounts then becoming due and payable on the Bonds with respect to which such deposit was made shall be retained by such Paying Agent or Agents for application in accordance with Article VIII. The Issuer will cause each such Paying Agent (other than the Indenture Trustee) to execute and deliver to the Indenture Trustee an instrument in which such Paying Agent shall agree with the TrusteeIndenture Trustee (and if the Indenture Trustee acts as Paying Agent, it hereby so agrees), subject to the provisions of this SectionSection 3.03, that such Paying Agent shallwill: