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).
Appears in 4 contracts
Samples: Credit Agreement (Texas New Mexico Power Co), Credit Agreement (Texas New Mexico Power Co), Term Loan Credit Agreement (PNM Resources Inc)
