Common use of PLEDGED BOND PAYMENTS Clause in Contracts

PLEDGED BOND PAYMENTS. Any principal of and interest on Pledged Bonds which becomes due and payable (including any due-bills received upon purchase thereof pursuant to the record date provisions of the Indenture or the Bonds) shall be paid to the Bank. All sums of money so paid to the Bank in respect of Pledged Bonds shall be credited against the obligation of the Borrower to reimburse the Bank, with interest, under Section 2.02(a) for the amount drawn under a Liquidity Drawing to fund the purchase of such Pledged Bonds pursuant to the Indenture.

PLEDGED BOND PAYMENTS. Any principal of of, premium on and interest on Pledged Bonds which becomes due and payable (including any due-bills received upon purchase thereof pursuant to the record date provisions of the Indenture or the Bonds) shall be paid to the Bank. All sums of money so paid to the Bank in respect of Pledged Bonds shall be credited against the obligation of the Borrower to reimburse the Bank, with interest, under Section 2.02(a) for the amount drawn under with a Liquidity Drawing Tender Draft to fund the purchase of such Pledged Bonds pursuant to the Indenture.

PLEDGED BOND PAYMENTS. Any principal of of, premium on and interest --------------------- on Pledged Bonds which becomes due and payable (including any due-bills received upon purchase thereof pursuant to the record date provisions of the Indenture or the Bonds) shall be paid to the Bank. All sums of money so paid to the Bank in respect of Pledged Bonds shall be credited against the obligation of the Borrower to reimburse the Bank, with interest, under Section 2.02(a) for the amount drawn under with a Liquidity Drawing Tender Draft to fund the purchase of such Pledged Bonds pursuant to the Indenture.