Common use of Payment Obligations of Governmental Unit Clause in Contracts

Payment Obligations of Governmental Unit. The Governmental Unit has transferred to the Finance Authority from the Pledged Revenues, the amounts provided in subsections (a)(i) and (ii) of Section 5.2 of this Loan Agreement for deposit into the Finance Authority Debt Service Account and the amount provided in subsection (c), if any, for deposit into the Loan Agreement Reserve Account. The Finance Authority Debt Service Account was established and is held by the Finance Authority and the Loan Agreement Reserve Account was established and held by the Trustee, each on behalf of the Governmental Unit. All Pledged Revenues received by the Finance Authority pursuant to this Section 5.2 shall be accounted for and maintained on an ongoing basis by the Finance Authority in the Finance Authority Debt Service Account and all Loan Agreement Payments shall be remitted to the Trustee. The Governmental Unit shall pay or cause to be paid to BAM the amount necessary to reimburse BAM for draws on the reserve Account Insurance Policy and Policy Costs. The amounts on deposit in the Finance Authority Debt Service Account and Loan Agreement Reserve Account shall be expended and used by the Finance Authority or the Trustee, as the case may be, only in the manner and order of priority specified below. (a) As a first charge and lien, but not an exclusive first charge and lien, on the Pledged Revenues (on a parity with the lien on the Pledged Revenues created by any outstanding Parity Obligations), the Governmental Unit shall remit to the Finance Authority, and the Finance Authority shall transfer and deposit into the Finance Authority Debt Service Account the following from the Pledged Revenues received from the Governmental Unit, which the Finance Authority shall transfer to the Trustee in accordance with the Indenture:

Payment Obligations of Governmental Unit. The Governmental Unit has transferred shall transfer to the Finance Authority from the Pledged Revenues, Revenues the amounts provided in subsections (a)(i) and (ii) of this Section 5.2 of this Loan Agreement for deposit into the Finance Authority Debt Service Account and the amount amounts provided in subsection (c), if any, ) for deposit into the Loan Agreement Reserve Account. The Finance Authority Debt Service Account was and Capitalized Interest Account shall be established and is held by the Finance Authority and the Loan Agreement Reserve Account was shall be established and held by the Trustee, each on behalf of the Governmental Unit. All Pledged Revenues received by the Finance Authority pursuant to this Section 5.2 shall be accounted for and maintained on an ongoing basis by the Finance Authority in the Finance Authority Debt Service Account and all Loan Agreement Payments shall be remitted to the Trustee. The Governmental Unit shall pay or cause to be paid to BAM the amount necessary to reimburse BAM for draws on the reserve Account Insurance Policy and Policy Costs. The amounts on deposit in the Finance Authority Debt Service Account and Loan Agreement Reserve Account shall be expended and used by the Finance Authority or the Trustee, as the case may be, only in the manner and order of priority specified below. (a) As a first charge and lien, but not an exclusive first charge and lien, on the Pledged Revenues (on a parity with the lien on the Pledged Revenues created by any outstanding Parity Obligations)) and the Capitalized Interest Account, the Governmental Unit shall remit to the Finance Authority, and the Finance Authority shall transfer and deposit into the Finance Authority Debt Service Account the following from the Capitalized Interest Account or the Pledged Revenues received from the Governmental Unit, which the Finance Authority shall transfer to the Trustee in accordance with the Indenture:

Payment Obligations of Governmental Unit. The Governmental Unit has transferred shall transfer to the Finance Authority from the Pledged RevenuesRevenues either pursuant to the Intercept Agreement or directly from the Governmental Unit as provided by this Loan Agreement and the Intercept Agreement, the amounts provided in subsections (a)(i) and (ii) of this Section 5.2 of this Loan Agreement for deposit into the Finance Authority Debt Service Account and the amount provided in subsection (c), if any, ) for deposit into the Loan Agreement Reserve Account. The Finance Authority Debt Service Account was shall be established and is held by the Finance Authority and the Loan Agreement Reserve Account was shall be established and held by the Trustee, each on behalf of the Governmental Unit. All Pledged Revenues received by the Finance Authority pursuant to this Section 5.2 shall be accounted for and maintained on an ongoing basis by the Finance Authority in the Finance Authority Debt Service Account and all Loan Agreement Payments shall be remitted to the Trustee. The Governmental Unit shall pay or cause to be paid to BAM the amount necessary to reimburse BAM for draws on the reserve Account Insurance Policy and Policy Costs. The amounts on deposit in the Finance Authority Debt Service Account and Loan Agreement Reserve Account shall be expended and used by the Finance Authority or the Trustee, as the case may be, only in the manner and order of priority specified below. (a) As a first charge and lien, but not an exclusive first charge and lien, on the Pledged Revenues (on a parity with the lien on the Pledged Revenues created by any outstanding Parity Obligations), the Governmental Unit shall remit to the Finance Authority, and the Finance Authority shall transfer and deposit into the Finance Authority Debt Service Account the following from the Pledged Revenues received from either directly or pursuant to the Governmental UnitIntercept Agreement, which the Finance Authority shall transfer to the Trustee in accordance with the Indenture:

Payment Obligations of Governmental Unit. The Governmental Unit has transferred shall transfer to the Finance Authority from the Pledged RevenuesRevenues either pursuant to the Intercept Agreement or directly from the Governmental Unit as provided by this Loan Agreement and the Intercept Agreement, the amounts provided in subsections (a)(i) and (ii) of this Section 5.2 of this Loan Agreement for deposit into the Finance Authority Debt Service Account and the amount provided in subsection (c), if any, for deposit into the Loan Agreement Reserve Account. The Finance Authority Debt Service Account was shall be established and is held by the Finance Authority and the Loan Agreement Reserve Account was shall be established and held by the Trustee, each on behalf of the Governmental Unit. All Pledged Revenues received by the Finance Authority pursuant to this Section 5.2 shall be accounted for and maintained on an ongoing basis by the Finance Authority in the Finance Authority Debt Service Account and all Loan Agreement Payments shall be remitted to the Trustee. The Governmental Unit shall pay or cause to be paid to BAM the amount necessary to reimburse BAM for draws on the reserve Account Insurance Policy and Policy Costs. The amounts on deposit in the Finance Authority Debt Service Account and Loan Agreement Reserve Account shall be expended and used by the Finance Authority or the Trustee, as the case may be, only in the manner and order of priority specified below. (a) As a first charge and lien, but not an exclusive first charge and lien, on the Pledged Revenues (on a parity with the lien on the Pledged Revenues created by any outstanding Parity Obligations), the Governmental Unit shall remit to the Finance Authority, and the Finance Authority shall transfer and deposit into the Finance Authority Debt Service Account the following from the Pledged Revenues received from the Governmental Unit, either directly or pursuant to the Intercept Agreement, which the Finance Authority shall transfer to the Trustee in accordance with the Indenture:

Payment Obligations of Governmental Unit. The Governmental Unit has As provided in the Intercept Agreement, the Distributing State Agency shall cause to be transferred to the Finance Authority from the Pledged Revenues, the amounts provided in subsections (a)(i) and (ii) of this Section 5.2 of this Loan Agreement for deposit into the Finance Authority Debt Service Account and the amount provided in subsection (c), if any, ) for deposit into the Loan Agreement Reserve Account. The Finance Authority Debt Service Account was and Capitalized Interest Account shall be established and is held by the Finance Authority and the Loan Agreement Reserve Account was shall be established and held by the Trustee, each on behalf of the Governmental Unit. All Pledged Revenues received by the Finance Authority pursuant to this Section 5.2 shall be accounted for and maintained on an ongoing basis by the Finance Authority in the Finance Authority Debt Service Account and all Loan Agreement Payments shall be remitted to the Trustee. The Governmental Unit shall pay or cause to be paid to BAM the amount necessary to reimburse BAM for draws on the reserve Account Insurance Policy and Policy Costs. The amounts on deposit in the Finance Authority Debt Service Account, Capitalized Interest Account and Loan Agreement Reserve Account shall be expended and used by the Finance Authority or the Trustee, as the case may be, only in the manner and order of priority specified below. (a) As a first charge and lien, but not an exclusive first charge and lien, on the Pledged Revenues (on a parity with the lien on the Pledged Revenues created by any outstanding Parity Obligations)) and the Capitalized Interest Account, the Governmental Unit shall remit to the Finance Authority, and the Finance Authority shall transfer and deposit into the Finance Authority Debt Service Account the following from the Capitalized Interest Account or the Pledged Revenues received pursuant to the Intercept Agreement from the Governmental Unit, which the Finance Authority shall transfer to the Trustee in accordance with the Indenture:

Payment Obligations of Governmental Unit. The Governmental Unit has transferred shall transfer to the Finance Authority from the Pledged Revenues, Revenues the amounts provided in subsections (a)(i) and (ii) of this Section 5.2 of this Loan Agreement for deposit into the Finance Authority Debt Service Account and the amount amounts provided in subsection (c), if any, ) for deposit into the Loan Agreement Reserve Account, if necessary. The Finance Authority Debt Service Account was shall be established and is held by the Finance Authority and the Loan Agreement Reserve Account was shall be established and held by the Trustee, each on behalf of the Governmental Unit. All Pledged Revenues received by the Finance Authority pursuant to this Section 5.2 shall be accounted for and maintained on an ongoing basis by the Finance Authority in the Finance Authority Debt Service Account and all Loan Agreement Payments shall be remitted to the Trustee. The Governmental Unit shall pay or cause to be paid to BAM the amount necessary to reimburse BAM for draws on the reserve Account Insurance Policy and Policy Costs. The amounts on deposit in the Finance Authority Debt Service Account and Loan Agreement Reserve Account shall be expended and used by the Finance Authority or the Trustee, as the case may be, only in the manner and order of priority specified below. (a) As a first charge and lien, but not an exclusive first charge and lien, on the Pledged Revenues (on a parity with the lien on the Pledged Revenues created by any outstanding Parity Obligations), the Governmental Unit shall remit to the Finance Authority, and the Finance Authority shall transfer and deposit into the Finance Authority Debt Service Account the following from the Pledged Revenues received from the Governmental Unit, which the Finance Authority shall transfer to the Trustee in accordance with the Indenture: