Payments on the Bonds. Any payments received by the Agent on account of the principal of or interest on the Bonds shall be deemed to be and treated in all respects as payments of the Obligations, and such payments shall be distributed by the Agent to the Banks in accordance with the provisions of the Credit Agreement applicable to payments received by the Agent in respect of the Obligations (and the Company hereby consents to such distributions).
Payments on the Bonds. Any payments received by the Agent on account of the principal of or interest on the Bonds shall be distributed by the Agent in accordance with the applicable provisions of the Credit Agreement, and the Company hereby consents to such distribution.
Payments on the Bonds. All sums becoming due on a Bonds for principal, premium, if any, and interest shall be paid in lawful money of the United States by the method and at the address specified for such purpose by the Bondholder in writing to the City and the Authority, without the presentation or surrender of such Xxxx or the making of any notation thereon, except that upon written request of the Authority made concurrently with or reasonably promptly after payment or redemption in full of such Bond, you shall surrender such Bond for cancellation, reasonably promptly after any such request, to the Authority. Prior to any sale or other disposition of a Bond held by you or your nominee you shall endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon. All payments of principal of each Bond (whether at maturity or upon redemption), including the date and amount of each payment, shall be endorsed by the Bondholder on the Schedule of Payments and Redemptions attached to such Bond; provided, however, that any failure by the Bondholder to endorse such information on such Schedule shall not in any manner affect the obligation of the Authority to make payments of principal and interest in accordance with the terms of such Bond. The Authority hereby irrevocably authorizes and directs you to enter on the Schedule of Payments and Redemptions the date and amount of each payment of principal of each Bond. You shall permit the Authority or the City at any time during regular business hours to make at your principal office an appropriate notation on each Bond of payments of principal thereof, if at least five days prior thereto the Authority or the City shall have given written notice of its intention to do so and if it shall not have received from you a written confirmation that the requested notation has been made. In the event that on any date the Authority shall pay less than the amount then due on the Bonds, such partial payment shall be applied to the amounts then due in the following order of priority: (i) reimbursable expenses and indemnities, (ii) accrued interest and premium, if any, on the Bonds, ratably, (iii) principal of the Bonds, ratably, and (iv) any other amounts due under the Bonds, ratably, or the Bond Documents.
Payments on the Bonds. Any payments received by the Administrative Agent on account of the principal of or interest on the Bonds shall be deemed to be and treated as payments of the Borrower Obligations to the extent provided for and otherwise in accordance with the terms of the Supplemental Indenture. Such payments shall be distributed by the Administrative Agent to the Lenders in accordance with the provisions of the Credit Agreement applicable to payments received by the Administrative Agent in respect of the Borrower Obligations (and the Company hereby consents to such distributions).
Payments on the Bonds. If, while this Pledge Agreement is in effect, Pledgor shall become entitled to receive or shall receive any principal or interest payment in respect of the Pledged Bonds, the Pledgor agrees to accept the same as the Bank's agent and to hold the same in trust on behalf of the Bank and to deliver the same forth with to the Bank. All sums of money so paid in respect of the Pledged Bonds which are received by the Pledgor and paid to the Bank shall be credited against the obligations of the Pledgor to the Bank in the manner set forth in Paragraph 2D of the Letter of Credit Agreement. So long as no Default or Event of Default has occurred and is continuing, any amounts received by the Bank in respect of the stated interest on any Pledged Bonds in excess of the amounts then owing to the Bank pursuant to Paragraph 2A(i)(2) of the Letter of Credit Agreement, shall, upon request of the Pledgor, be remitted to the Pledgor.
Payments on the Bonds. If, while this Pledge Agreement is in effect, the Pledgor shall become entitled to receive or shall receive any payment of principal, premium, interest or proceeds of sale or remarketing in respect of the Pledged Bonds, such payment shall be subject to this Pledge Agreement, and the Pledgor hereby irrevocably directs the Trustee to make any such payments directly to the Custodian and, in the event any such payments are received by the Pledgor, the Pledgor agrees to accept the same as the Bank's agent and to hold the same in trust on behalf of the Bank and to deliver the same promptly to the Custodian. All sums of money so paid in respect of the Pledged Bonds which are received by the Pledgor and paid to the Custodian and all such amounts which shall be paid directly to the Custodian by the Trustee shall be paid by the Custodian to the Bank and shall be credited against the corresponding reimbursement obligation of the Pledgor under the Reimbursement Agreement.
Payments on the Bonds. (a) All payments of interest, principal and other amounts made with respects to any Class of Bonds will be allocated pro rata among the Outstanding Bonds of such Class based on the respective Principal Amounts thereof.
(b) On each Payment Date, unless the Bonds have been declared due and payable pursuant to Section 5.02 of the Standard Indenture Provisions and payments and other collections from the Trust Estate are being applied pursuant to Section 5.06 of the Standard Indenture Provisions, the Indenture Trustee shall withdraw from the Bond Account and apply the Available Payment Amount for such Payment Date among the respective Classes of Bondholders and the Issuer for the following purposes and in the following order of priority, in each case to the extent of remaining funds:
(i) to the Holders of the Class A Bonds in respect of interest, pro rata as between the two Classes of Class A Bondholders based on entitlement, up to an amount equal to all unpaid interest accrued in respect of each such Class of Bonds through the end of the related Interest Accrual Period;
(ii) to the Holders of the Class A Bonds in respect of principal, allocable as between the two Classes of Class A Bondholders as provided below, up to an amount equal to the lesser of (A) the then aggregate Principal Amount of the Class A Bonds and (B) the Principal Payment Amount for such Payment Date;
(iii) to the Holders of the Class B Bonds in respect of interest, up to an amount equal to all unpaid interest accrued in respect of such Class of Bonds through the end of the related Interest Accrual Period;
(iv) after the aggregate Principal Amount of the Class A Bonds has been reduced to zero, to the Holders of the Class B Bonds in respect of principal, up to an amount equal to the lesser of (A) the then aggregate Principal Amount of the Class B Bonds and (B) the excess, if any, of the Principal Payment Amount for such Payment Date over any amounts paid on such Payment Date in retirement of the Class A Bonds pursuant to clause (ii) above;
(v) to the Holders of the Class C Bonds in respect of interest, up to an amount equal to all unpaid interest accrued in respect of such Class of Bonds through the end of the related Interest Accrual Period;
(vi) after the aggregate Principal Amount of the Class A and Class B Bonds has been reduced to zero, to the Holders of the Class C Bonds in respect of principal, up to an amount equal to the lesser of (A) the then aggregate Principal Amount of the Class C...
Payments on the Bonds. If, while this Pledge Agreement is in effect, the Borrower shall become entitled to receive or shall receive any principal or interest payment in respect of the Pledged Bonds, the Borrower agrees to accept the same as the Bank's agent and to hold the same in trust on behalf of the Bank and to deliver the same forthwith to the Bank. All sums of money so paid in respect of the Pledged Bonds which are received by the Borrower and paid to the Bank shall be credited against the obligations of the Borrower to the Bank in the manner set forth in Paragraph 3 of the Credit Agreement. So long as no Default or Event of Default has occurred and is continuing, any amounts received by the Bank in respect of the stated interest on any Pledged Bonds in excess of the amounts then owing the Bank pursuant to Paragraph 3A(i)(2) of the Credit Agreement shall be remitted to the Borrower.
Payments on the Bonds. Without duplication in respect of any payment in respect of the Initial Bonds, any payments received by the Agent on account of the principal of or interest on the Bonds shall be deemed to be and treated in all respects as payments of the Obligations, and such payments shall be distributed by the Agent to the Banks in accordance with the provisions of the Loan Agreement applicable to payments received by the Agent in respect of the Obligations (and the Company hereby consents to such distributions).
Payments on the Bonds. Any payments received by the Bank on account of the principal of or interest on the Bonds shall be deemed to be and treated in all respects as payments of the Liabilities.
