Common use of Payment to Trustee Clause in Contracts

Payment to Trustee. On the dates set forth in Schedule A to Exhibit I (Notice of Terms), commencing on the date set forth in Schedule A to Exhibit I, the School District shall deposit or cause to be deposited with the Trustee the full amount of the payment due on the School District Bonds on such dates, respectively; provided, however, that the School District agrees to pay the amount due on such initial payment date on or before the date of issuance of the Authority Bonds or on such other date as may be set forth in Schedule A to Exhibit I. Amounts so deposited by the School District prior to the payment date for the Authority Bonds shall be invested by the Trustee at the direction of the Authority. Investment earnings on such amounts shall accrue to the benefit of the School District and shall be paid to the School District at the direction of the Authority in accordance with Section 3.10 hereof.

Payment to Trustee. On the dates set forth in Schedule A to Exhibit I (Notice of Terms), commencing on the date set forth in Schedule A to Exhibit I, the School District shall deposit or cause to be deposited with the Trustee the full amount of the payment due on the School District Bonds on such dates, respectively; provided, however, however that the School District agrees to pay the amount due on such initial payment date on or before the date of issuance of the Authority Bonds or on such other date as may be set forth in Schedule A to Exhibit I. Amounts so deposited by the School District prior to the payment date for the Authority Bonds shall be invested by the Trustee at the direction of the Authority. Investment earnings on such amounts shall accrue to the benefit of the School District and shall be paid to the School District at the direction of the Authority in accordance with Section 3.10 hereof.