Common use of Payments on the Bonds Clause in Contracts

Payments on the Bonds. All sums becoming due on the Bonds for principal, premium, if any, or 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 Lessee and the Issuer, without the presentation or surrender of the Bonds or the making of any notation thereon, except that upon written request of the Lessee made concurrently with or reasonably promptly after payment or redemption in full of the Bonds, you shall surrender the Bonds for cancellation, reasonably promptly after any such request, to the Lessee. Prior to any sale or other disposition of the Bonds 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 the Bonds (whether at maturity or upon redemption), including the date and amount of each payment, shall be endorsed by you on the Schedule of Payments and Redemptions attached to the Bonds; provided, however, that any failure by you to endorse such information on such Schedule shall not in any manner affect the obligation of the Issuer to make payments of principal and interest in accordance with the terms of the Bonds. The Issuer 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 the Bonds. You shall permit the Issuer or the Lessee at any time during regular business hours to make at your principal office an appropriate notation on the Bonds of payments of principal thereof, if at least five days prior thereto the Issuer or the Lessee 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 Issuer 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, (iii) principal of the Bonds, and (iv) any other amounts due under the Bonds or the Bond Documents.

Payments on the Bonds. All sums becoming due on the Bonds for principal, premium, if any, or 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 Lessee Issuer and the IssuerPurchaser, without the presentation or surrender of the Bonds either Xxxx or the making of any notation thereon, except that upon written request of the Lessee Issuer made concurrently with or reasonably promptly after payment or redemption in full of the Bondseither Bond, you shall surrender the Bonds such Bond for cancellation, reasonably promptly after any such request, to the LesseeIssuer. Prior to any sale or other disposition of the Bonds either Xxxx held by you or your nominee, 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 the Bonds each Bond (whether at maturity maturity, on any principal payment date, or upon redemption), including the date and amount of each payment, shall be endorsed by you on the Schedule of Payments and Redemptions attached to the Bondssuch Bond; provided, however, that any failure by you to endorse such information on such Schedule or any error therein shall not in any manner affect the obligation of the Issuer to make payments of principal and interest in accordance with the terms of the Bondssuch Bond. The Issuer 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 the Bondseach Bond. You shall permit the Issuer or the Lessee Purchaser at any time during regular business hours to make at your principal office where the original Bonds are held an appropriate notation on the Bonds each Bond of payments of principal thereof, if at least five days prior thereto the Issuer or the Lessee Purchaser 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 Issuer 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 Bonds, ratably, or the Bond Documents.

Payments on the Bonds. All sums becoming due (a) Payments on Bonds issued as Global Bonds will be made by or on behalf of the Indenture Trustee to DTC or its nominee. Payments on any IAI Bonds or Definitive Bonds that are punctually paid or duly provided for by the Issuer on the applicable Payment Date (or Special Payment Date) shall be paid to the Person in whose name such Bond (or one or more Predecessor Bonds) is registered at the close of business on the Record Date for such Payment Date (or Special Payment Date) by wire transfer of immediately available funds to the account of a Bondholder, unless such Bondholder has not either provided the Indenture Trustee with wiring instructions in writing by five days prior to the related Record Date or provided the Indenture Trustee with such instructions for any previous Payment Date, in which case, payments on the Bonds will be made by check mailed to such Person's address as it appears in the Bond Register on such Record Date. Notwithstanding the above, the final installment of principal payable with respect to such Bond shall be payable as provided in subsection (c) below of this Section 2.06. A fee may be charged by the Indenture Trustee to a Bondholder of Definitive Bonds (or IAI Bonds) for principal, premium, if anyany payment made by wire transfer. Any required payments on the Bonds not punctually paid or duly provided for shall be payable as soon as funds are available to the Indenture Trustee for payment thereof, or interest if Section 5.08 applies, pursuant to Section 5.08. (b) All reductions in the principal amount of a Bond (or one or more Predecessor Bonds) effected by payments of installments of principal made on any Payment Date (or Special Payment Date) shall be paid in lawful money binding upon all Holders of the United States by the method such Bond and at the address specified for such purpose by the Bondholder in writing to the Lessee and the Issuer, without the presentation or surrender of the Bonds or the making of any notation thereonBond issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, except that upon written request of the Lessee made concurrently with whether or reasonably promptly after not such payment or redemption in full of the Bonds, you shall surrender the Bonds for cancellation, reasonably promptly after any is noted on such request, to the Lessee. Prior to any sale or other disposition of the Bonds 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 Bond. (c) The final installment of principal of the Bonds (whether at maturity or upon redemption), including the date and amount of each payment, Bond shall be endorsed by you payable only upon presentation and surrender thereof on or after the Schedule of Payments and Redemptions attached Payment Date (or Special Payment Date) therefor at the Indenture Trustee's Corporate Trust Office or New York Presenting Office pursuant to the Bonds; provided, however, that any failure by you to endorse such information on such Schedule shall not in any manner affect the obligation of the Issuer to make payments of principal and interest in accordance with the terms of the Bonds. The Issuer 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 the Bonds. You shall permit the Issuer or the Lessee at any time during regular business hours to make at your principal office an appropriate notation on the Bonds of payments of principal thereof, if at least five days prior thereto the Issuer or the Lessee 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 Issuer 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, (iii) principal of the Bonds, and (iv) any other amounts due under the Bonds or the Bond DocumentsSection 3.

Payments on the Bonds. All sums becoming due on the a Bonds for principal, premium, if any, or 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 Lessee City and the IssuerAuthority, without the presentation or surrender of the Bonds such Xxxx or the making of any notation thereon, except that upon written request of the Lessee Authority made concurrently with or reasonably promptly after payment or redemption in full of the Bondssuch Bond, you shall surrender the Bonds such Bond for cancellation, reasonably promptly after any such request, to the LesseeAuthority. Prior to any sale or other disposition of the Bonds a Bond held by you or your nominee, 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 the Bonds each Bond (whether at maturity or upon redemption), including the date and amount of each payment, shall be endorsed by you the Bondholder on the Schedule of Payments and Redemptions attached to the Bondssuch Bond; provided, however, that any failure by you the Bondholder to endorse such information on such Schedule shall not in any manner affect the obligation of the Issuer Authority to make payments of principal and interest in accordance with the terms of the Bondssuch Bond. The Issuer 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 the Bondseach Bond. You shall permit the Issuer Authority or the Lessee City at any time during regular business hours to make at your principal office an appropriate notation on the Bonds each Bond of payments of principal thereof, if at least five days prior thereto the Issuer Authority or the Lessee 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 Issuer 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 Bonds, ratably, or the Bond Documents.

Payments on the Bonds. All sums becoming due (a) Subject to Section 2.10(b), the Issuer agrees to pay (i) on each Payment Date prior to Stated Maturity for the Bonds for principalBonds, premium, if any, or interest shall be paid in lawful money but only to the extent of the United States by the method Available Amount, interest on and at the address specified for such purpose by the Bondholder in writing to the Lessee and the Issuer, without the presentation or surrender principal of the respective Classes of Bonds or in the making amounts and in accordance with the priorities set forth in Section 2.10(c); and (ii) on each Payment Date prior to Stated Maturity for the Bonds, any Bond Prepayment Premium Amounts for the respective Classes of any notation thereon, except that upon written request of Bonds in the Lessee made concurrently amounts and in accordance with or reasonably promptly after payment or redemption the priorities set forth in full Section 2.10(d); and (iii) at Stated Maturity of the Bonds, you shall surrender the Bonds for cancellationentire Bond Principal Balance of each Bond, reasonably promptly after together with all accrued and unpaid interest thereon. Amounts properly withheld under the Code by any Person from a payment to any Holder of a Bond of interest, principal or other amounts, or any such request, to payment set aside on the Lessee. Prior to any sale or other disposition of the Bonds 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 the Bonds (whether at maturity or upon redemptionFinal Payment Date for such Bond as provided in Section 2.10(b), including the date and amount of each payment, shall be endorsed considered as having been paid by you the Issuer to such Bondholder for all purposes of this Indenture. (b) With respect to each Payment Date, any interest, principal and other amounts payable on the Schedule of Payments and Redemptions attached Bonds shall be paid to the BondsPerson that is the registered holder thereof at the close of business on the related Record Date; provided, however, that interest, principal and other amounts payable at the Final Payment Date of any failure Bond shall be payable only against surrender thereof at the offices of the Indenture Trustee designated in the notice provided pursuant to Section 2.11(b). Payments of interest, principal and other amounts on the Bonds shall be made on the applicable Payment Date other than the Final Payment Date, subject to applicable laws and regulations, by you wire transfer to endorse such information account as such Bondholder shall designate by written instruction received by the Indenture Trustee not later than the Record Date related to the applicable Payment Date or otherwise by check mailed on or before the Payment Date to the Person entitled thereto at such Person's address appearing on the Bond Register. The Indenture Trustee shall pay each Bond in whole or in part as provided herein on its Final Payment Date in immediately available funds from funds in the Bond Account as promptly as possible after presentation to the Indenture Trustee of such Bond at the office of the Bond Registrar but shall initiate such payment no later than 3:00 p.m., New York City time, on the day after such presentation, provided, that such presentation has been made no later than 1:00 p.m., New York City time on the day prior to its Final Payment Date. If presentation is made after 1:00 p.m., New York City time, on any day, such presentation shall be deemed to have been made on the immediately succeeding Business Day. Except as provided in the following sentence, if a Bond is issued in exchange for any other Bond during the period commencing at the close of business at the office or agency where such exchange occurs on any Record Date and ending before the opening of business at such office or agency on the related Payment Date, no interest, principal or other amounts will be payable on such Schedule shall not Payment Date in any manner affect the obligation respect of such new Bond, but will be payable on such Payment Date only in respect of the Issuer to make payments of prior Bond. Interest, principal and interest other amounts payable on any Bond issued in exchange for any other Bond during the period commencing at the close of business at the office or agency where such exchange occurs on the Record Date immediately preceding the Final Payment Date for such Bonds and ending on the Final Payment Date for such Bonds, shall be payable to the Person that surrenders the new Bond as provided in this Section 2.10(b). Each distribution with respect to a Book-Entry Bond shall be paid to the Depository, as Holder thereof, and the Depository shall be responsible for crediting the amount of such distribution to the accounts of its Depository Participants in accordance with its normal procedures. Each Depository Participant shall be responsible for disbursing such distribution to the terms related Bond Owners that it represents and to each indirect participating brokerage firm (a "brokerage firm" or "indirect participating firm") for which it acts as agent. Each brokerage firm shall be responsible for disbursing funds to the related Bond Owners that it represents. None of the Bondsparties hereto shall have any responsibility therefor except as otherwise provided by this Agreement or applicable law. The Issuer hereby irrevocably authorizes Company and directs you the Indenture Trustee shall perform their respective obligations under the Letter of Representations. All payments of interest, principal and other amounts made with respects to enter any Class of Bonds will be allocated PRO RATA among the Outstanding Bonds of such Class based on the Schedule of Payments Bond Principal Balance. If any Bond on which the final payment was due is not presented for payment on its Final Payment Date, then the Indenture Trustee shall set aside such payment in a segregated account separate from the Bond Account but which constitutes an Eligible Account, and Redemptions the date Indenture Trustee and amount of each payment of principal of the Bonds. You shall permit the Issuer or the Lessee at any time during regular business hours to make at your principal office an appropriate notation on the Bonds of payments of principal thereof, if at least five days prior thereto the Issuer or the Lessee 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 Issuer shall pay less than act in accordance with Section 5.10 in respect of the amount then due on unclaimed funds. (c) On each Payment Date, the Bonds, Indenture Trustee shall withdraw from the Bond Account and apply the Available Amount for such partial payment shall be applied to Payment Date among the amounts then due respective Classes of Bondholders and the holders of the Owner Trust Certificates for the following purposes and in the following order of priority: , in each case to the extent of remaining funds: (i) reimbursable expenses and indemnitiesto the holders of the Class A Bonds in respect of interest, PRO RATA based on such amounts distributable thereon, up to an amount equal to all Payable Bond Interest in respect of each such Class of Bonds for such Payment Date and, to the extent not previously paid, for all prior Payment Dates (plus interest on such unpaid amount at the then-applicable Bond Interest Rate); (ii) accrued to the holders of the Class A Bonds related to each Sub-Pool in respect of principal and allocated between the respective Classes of Class A Bonds related to each Sub-Pool as described below, up to an amount equal to the lesser of (a) the aggregate Bond Principal Balance of such Classes of Class A Bonds then outstanding and (b) the related Sub-Pool Bond Principal Payment Amount for such Payment Date; (iii) if, following distributions pursuant to clause (ii) above, the aggregate Bond Principal Balance of either group of Class A Bonds has been reduced to zero (the "Retired Class A Bonds"), to the holders of the unrelated group of Class A Bonds, if such Class A Bonds are still outstanding (the "Outstanding Class A Bonds") in respect of principal, allocated between the respective Classes of such Outstanding Class A Bonds as described below, up to an amount equal to the lesser of (a) the aggregate Bond Principal Balance of such Classes of Outstanding Class A Bonds and (b) the excess of the Sub-Pool Bond Principal Payment Amount for such Payment Date related to the Retired Class A Bonds over the amount thereof paid on such Payment Date as described in clause (ii) above. (iv) to the holders of the Class B Bonds in respect of interest up to an amount equal to all Payable Bond Interest in respect of such Class of Bonds for such Payment Date and, to the extent not previously paid, for all prior Payment Dates (plus interest on such unpaid amount at the then-applicable Bond Interest Rate); (v) to the holders of the Class B Bonds in respect of principal up to an amount equal to the lesser of (a) the then outstanding Bond Principal Balance of the Class B Bonds and premium(b) the excess, if any, of the Aggregate Bond Principal Payment Amount for such Payment Date over the amount thereof paid on such Payment Date pursuant to clauses (ii) and (iii) above; (vi) to the Bondsholders of the Class C Bonds in respect of interest up to an amount equal to all Payable Bond Interest in respect of such Class of Bonds for such Payment Date and, to the extent not previously paid, for all prior Payment Dates (plus interest on such unpaid amount at the then-applicable Bond Interest Rate); (vii) to the holders of the Class C Bonds in respect of principal up to an amount equal to the lesser of (a) the then outstanding Bond Principal Balance of the Class C Bonds and (b) the excess, if any, of the Aggregate Bond Principal Payment Amount for such Payment Date over the amount thereof paid on such Payment Date pursuant to clauses (ii), (iii) principal and (v) above; (viii) to the holders of the Class D Bonds in respect of interest up to an amount equal to all Payable Bond Interest in respect of such Class of Bonds for such Payment Date and, to the extent not previously paid, for all prior Payment Dates (plus interest on such unpaid amount at the then-applicable Bond Interest Rate); (ix) to the holders of the Class D Bonds in respect of principal up to an amount equal to the lesser of (a) the then outstanding Bond Principal Balance of the Class D Bonds and (b) the excess, if any, of the Aggregate Bond Principal Payment Amount for such Payment Date over the amount thereof paid on such Payment Date pursuant to clauses (ii), (iii), (v) and (vii) above; (x) to the holders of the Class E Bonds in respect of interest up to an amount equal to all Payable Bond Interest in respect of such Class of Bonds for such Payment Date and, to the extent not previously paid, for all prior Payment Dates (plus interest on such unpaid amount at the then-applicable Bond Interest Rate); (xi) to the holders of the Class E Bonds in respect of principal up to an amount equal to the lesser of (a) the then outstanding Bond Principal Balance of the Class E Bonds and (b) the excess, if any, of the Aggregate Bond Principal Payment Amount for such Payment Date over the amount thereof paid on such Payment Date pursuant to clauses (ii), (iii), (v), (vii) and (ix) above; (xii) to the holders of the Class F Bonds in respect of interest up to an amount equal to all Payable Bond Interest in respect of such Class of Bonds for such Payment Date and, to the extent not previously paid, for all prior Payment Dates (plus interest on such unpaid amount at the then-applicable Bond Interest Rate); (xiii) to the holders of the Class F Bonds in respect of principal up to an amount equal to the lesser of (a) the then outstanding Bond Principal Balance of the Class F Bonds and (b) the excess, if any, of the Aggregate Bond Principal Payment Amount for such Payment Date over the amount thereof paid on such Payment Date pursuant to clauses (ii), (iii), (v), (vii), (ix) and (xi)above; (xiv) to the holders of the Class G Bonds in respect of interest up to an amount equal to all Payable Bond Interest in respect of such Class of Bonds for such Payment Date and, to the extent not previously paid, for all prior Payment Dates (plus interest on such unpaid amount at the then-applicable Bond Interest Rate); (xv) to the holders of the Class G Bonds in respect of principal up to an amount equal to the lesser of (a) the then outstanding Bond Principal Balance of the Class G Bonds and (b) the excess, if any, of the Aggregate Bond Principal Payment Amount for such Payment Date over the amount thereof paid on such Payment Date pursuant to clauses (ii), (iii), (v), (vii), (ix), (xi) and (xiii) above; and (xvi) after the foregoing distributions have been made, so long as there are not more than three holders of Owner Trust Certificates, to such Certificateholders, to the extent the Indenture Trustee has received the names and wiring instructions or addresses of such Certificateholders and instructions of the Owner Trustee, and in the event that there are more than three holders of Owner Trust Certificates, to the Owner Trustee, an amount equal to the balance of the Available Amount for such Payment Date. Distributions of principal to the holders of the Class A Bonds related to each Sub-Pool will be allocated between the respective Classes of Class A Bonds related to such Sub-Pool as follows: (i) prior to the Class A Credit Support Depletion Date; (A) in the case of the Class A-1 Bonds, and (iv) any other amounts due under first to the holders of the Class A-1A Bonds or until the Bond DocumentsPrincipal Balance thereof has been reduced to zero and then to the holders of the Class A-1B Bonds; and (B) to the holders of the Class A-2 Bonds until the Bond Principal Balance thereof has been reduced to zero; and (ii) on and after the Class A Credit Support Depletion Date, the Aggregate Bond Principal Payment Amount will be paid, to the holders of the Class A Certificates PRO RATA based on their then outstanding Bond Principal Balances. (d) On each Payment Date, the Indenture Trustee shall withdraw from the Bond Account the Bond Prepayment Premium Amount for such Payment Date and shall pay such amount as additional interest to the holders of the Fixed Rate Bonds entitled to principal on such Payment Date in an amount equal to, as to each such Class, the product of such amount and the related Class Prepayment Premium Percentage for such Payment Date; provided, however, that such payments shall be made only from, and shall not exceed, Prepayment Premiums received during the related Collection Period. Any Prepayment Premium remaining after making the foregoing payments shall be paid, so long as there are not more than three holders of Owner Trust Certificates, to such Certificateholders, to the extent the Indenture Trustee has received the names and wiring instructions or addresses of such Certificateholders and instructions of the Owner Trustee, and in the event that there are more than three holders of Owner Trust Certificates, to the Owner Trustee for distribution to the holders of the Owner Trust Certificates as provided in the Owner Trust Agreement. (e) The Bonds are nonrecourse obligations solely of the Issuer and will be payable only from the Trust Estate. Each Bondholder will be deemed to have agreed that they have no rights or claims against the Issuer directly and may only look to the Trust Estate to satisfy the Issuer's obligations hereunder. Each Bondholder will be deemed to have agreed, by its acceptance of its Bond, not to file or join in filing any petition in bankruptcy or commence any similar proceeding in respect of the Issuer for a period of one year and one day following payment in full of such Bond. Notwithstanding the provisions of this Section 2.10 (e), the Issuer or another entity may, subject to Section 9.06, at any time advance funds to the Indenture Trustee for the purpose of allowing the Indenture Trustee to make required payments on the Bonds. If the Issuer or another entity makes such advance, it shall be entitled to request the Indenture Trustee to withdraw from the Bond Account for payment to the Issuer on any subsequent Payment Date the amount so advanced. (f) In connection with making any payments pursuant to Section 2.10(c)(xvi) and 2.10(d), the Indenture Trustee shall provide to the Owner Trustee and the Manager on the related Payment Date by facsimile transmission, confirmed in writing by first class mail or overnight courier, a written statement detailing the amounts so paid.