Common use of Payment of Refunded Certificates Clause in Contracts

Payment of Refunded Certificates. The amounts recited in the second paragraph of Section 2.1 of this Agreement will be sufficient to purchase $[ ] par amount of Government Obligations (plus a cash deposit of $[ ] which will be held univested), all as listed in Schedule B attached hereto and made a part hereof, which will, based upon the opinion of the Verification Agent, mature in principal amounts and earn income at such times, so that sufficient moneys will be available to pay, as the same become due on each Payment Date therefor, all Basic Lease Payments represented by, and the Prepayment Price of, the Refunded Certificates on the respective Prepayment Date. Notwithstanding the foregoing, if the amounts deposited in the Escrow Deposit Trust Fund are insufficient to make said payments, the School Board shall deposit into the Escrow Deposit Trust Fund the amount of any deficiency immediately upon notice from the Escrow Agent.

Payment of Refunded Certificates. The amounts recited in the second paragraph of Section 2.1 of this Agreement will be sufficient to purchase $[ [AMOUNT] par amount of Government Obligations [(plus a cash deposit of $[ ] $ which will be held univested), ,] all as listed in Schedule B attached hereto and made a part hereof, which will, based upon the opinion of the Verification Agent, mature in principal amounts and earn income at such times, so that sufficient moneys will be available to pay, as the same become due on each Payment Date therefor, all Basic Lease Payments represented by, and the Prepayment Price of, the Refunded Certificates on the respective Prepayment Date. Notwithstanding the foregoing, if the amounts deposited in the Escrow Deposit Trust Fund are insufficient to make said payments, the School Board shall deposit into the Escrow Deposit Trust Fund the amount of any deficiency immediately upon notice from the Escrow Agent.

Payment of Refunded Certificates. The amounts recited in the second paragraph of Section 2.1 of this Agreement will be sufficient to purchase $[ ] $ par amount of Government Obligations (plus a cash deposit of $[ ] $ which will be held univested), all as listed in Schedule B attached hereto and made a part hereof, which will, based upon the opinion of the Verification Agent, mature in principal amounts and earn income at such times, so that sufficient moneys will be available to pay, as the same become due on each Payment Date therefor, all Basic Lease Payments represented by, and the Prepayment Price of, the Refunded Certificates on the respective Prepayment Date. Notwithstanding the foregoing, if the amounts deposited in the Escrow Deposit Trust Fund are insufficient to make said payments, the School Board shall deposit into the Escrow Deposit Trust Fund the amount of any deficiency immediately upon notice from the Escrow Agent.

Payment of Refunded Certificates. The amounts recited in the second paragraph of Section 2.1 of this Agreement will be sufficient to purchase $[ [AMOUNT] par amount of Government Obligations (plus a cash deposit of $[ [AMOUNT] which will be held univested), all as listed in Schedule B attached hereto and made a part hereof, which will, based upon the opinion of the Verification Agent, mature in principal amounts and earn income at such times, so that sufficient moneys will be available to pay, as the same become due on each Payment Date therefor, all Basic Lease Payments represented by, and the Prepayment Price of, the Refunded Certificates on the respective Prepayment Date. Notwithstanding the foregoing, if the amounts deposited in the Escrow Deposit Trust Fund are insufficient to make said payments, the School Board shall deposit into the Escrow Deposit Trust Fund the amount of any deficiency immediately upon notice from the Escrow Agent.