Net Loan. The parties hereto agree (a) that the payments of Loan Payments are designed to provide the Issuer and the Trustee with moneys adequate in amount to pay all principal of, purchase price of, and redemption premium, if any, and interest accruing on the Bonds as the same become due and payable, (b) that to the extent that the payments of Loan Payments are not sufficient to provide the Issuer and the Trustee with funds sufficient for the purposes aforesaid, subject to the provisions of Section 3.8 hereof, the Borrower shall be obligated to pay, and it does hereby covenant and agree to pay, upon demand therefor, as Additional Payments, such further moneys, in cash, as may from time to time be required for such purposes, and (c) that if after the principal of, and redemption premium, if any, and interest on the Bonds and all costs incident to the payment of the Bonds have been paid in full the Trustee or the Issuer holds unexpended funds received in accordance with the terms hereof, such unexpended funds shall, after payment therefrom of all sums then due and owing by the Borrower under the terms of this Loan Agreement, be distributed in accordance with the Indenture.
Net Loan. Subject to the limitations described in Sections 3.5, 3.7 and 4.1, the parties hereto agree (a) that the payments of Loan Payments are designed to provide the Board and the Trustee with moneys adequate in amount to pay all principal of, purchase price, redemption premium, if any, and interest accruing on the Series 2021 Bonds as the same become due and payable, (b) that to the extent that the payments of Loan Payments are not sufficient to provide the Board and the Trustee with funds sufficient for the purposes aforesaid, the City shall be obligated to pay (subject with respect to the City to the limitations set forth in Section 3.5 hereof) to, and they do hereby covenant and agree to pay, upon demand therefor, as Additional Payments, such further moneys, in cash, as may from time to time be required for such purposes, and (c) that if after the principal of, redemption premium, if any, and interest on the Series 2021 Bonds and all costs incident to the payment of the Series 2021 Bonds have been paid in full (including all Additional Payments) the Trustee or the Board holds unexpended funds received in accordance with the terms hereof, such unexpended funds shall, after payment therefrom of all sums then due and owing by the City under the terms of this Series 2021 Supplemental Financing Agreement, be distributed in accordance with Article IV of the Indenture.
