Common use of Payments on the Bonds Clause in Contracts

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. 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, but only to the extent of the Available Amount, interest on and principal of the respective Classes of Bonds in the 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 Bonds in the amounts and in accordance with the priorities set forth in Section 2.10(d); and (iii) at Stated Maturity of the Bonds, the entire Bond Principal Balance of each Bond, 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 payment set aside on the Final Payment Date for such Bond as provided in Section 2.10(b), shall be considered as having been paid by 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 Bonds for principal, premium, if any, and interest shall be paid in lawful money of to the United States by Person that is the method and registered holder thereof at the address specified for such purpose by the Bondholder in writing to the City and the Authority, without the presentation or surrender close 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 business on the Schedule of Payments and Redemptions attached to such Bondrelated 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 wire transfer to such account as such Bondholder shall designate by written instruction received by the Bondholder Indenture Trustee not later than the Record Date related to endorse the applicable Payment Date or otherwise by check mailed on or before the Payment Date to the Person entitled thereto at such information 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 Authority 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 parties hereto shall have any responsibility therefor except as otherwise provided by this Agreement or applicable law. The Company and 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 any Class of Bonds will be allocated PRO RATA among the Outstanding Bonds of such Bond. The Authority hereby irrevocably authorizes and directs you to enter Class based on the Schedule 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 the Indenture Trustee and the Issuer shall act in accordance with Section 5.10 in respect of Payments the unclaimed funds. (c) On each Payment Date, the Indenture Trustee shall withdraw from the Bond Account and Redemptions apply the date Available Amount for such Payment Date among the respective Classes of Bondholders and amount the holders of each payment of principal of each Bond. You shall permit the Authority or Owner Trust Certificates for 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 following purposes 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: , 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, ratablyto 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, ratablyfirst to the holders of the Class A-1A Bonds until the Bond Principal 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. (ive) 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 other amounts due under 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, ratably, or it shall be entitled to request the Indenture Trustee to withdraw from the Bond DocumentsAccount 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.

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

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

Payments on the Bonds. All sums becoming due (a) Payments on a 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 principal, premium, if any, and interest by the Issuer on the applicable Payment Date (or Special Payment Date) shall be paid to the Person in lawful money whose name such Bond (or one or more Predecessor Bonds) is registered at the close of business on the United States 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 method and at Indenture Trustee to a Bondholder of Definitive Bonds (or IAI Bonds) for any payment made by wire transfer. Any required payments on the address specified Bonds not punctually paid or duly provided for such purpose by the Bondholder in writing shall be payable as soon as funds are available to the City and Indenture Trustee for payment thereof, or if Section 5.08 applies, pursuant to Section 5.08. (b) All reductions in 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 principal amount of a Bond held (or one or more Predecessor Bonds) effected by you or your nominee you shall endorse thereon the amount payments of installments of principal paid thereon made on any Payment Date (or Special Payment Date) shall be binding upon all Holders of such Bond and of any Bond issued upon the last date to which interest has been paid thereon. All payments registration of transfer thereof or in exchange therefor or in lieu thereof, whether or not such payment is noted on such Bond. (c) The final installment of principal of each Bond (whether at maturity or upon redemption), including the date and amount of each payment, shall be endorsed by payable only upon presentation and surrender thereof on or after the Bondholder on Payment Date (or Special Payment Date) therefor at the Schedule of Payments and Redemptions attached Indenture Trustee's Corporate Trust Office or New York Presenting Office pursuant 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 DocumentsSection 3.