Possible Deficiencies. A. If at any time it shall appear to the Escrow Bank that the money and any interest on and principal of the Federal Securities in escrow allocable for such use under this Agreement, including, without limitation, the known minimum yield from the Initial Federal Securities, will not be sufficient to make any required payment due on the Refunded Bond Requirements as the same becomes due, the Escrow Bank shall notify in writing the Treasurer as soon as reasonably practicable of such fact and the amount of such deficiency.
Possible Deficiencies. (a) If at any time the Escrow Agent has actual knowledge that the moneys in the Refunding Escrow, including the anticipated proceeds of the Investment Securities, will not be sufficient to make all payments required by Section 4 hereof, the Escrow Agent shall notify the Community Facilities District in writing as soon as is reasonably practicable of such fact, the amount of such deficiency and, if known, the reason therefor.
Possible Deficiencies. A. If at any time it shall appear to the Escrow Bank that the money and any interest on and principal of the Federal Securities in escrow allocable for such use under this Escrow Agreement will not be sufficient to make any required payment due on the Refunded Certificate Requirements as the same becomes due, the Escrow Bank shall notify in writing the City Manager as soon as reasonably practicable of such fact and the amount of such deficiency.
Possible Deficiencies. (a) If at any time it shall appear to the Escrow Bank that the moneys and any interest on and the principal of the Federal Securities in escrow allocable for such use hereunder, including, without limitation, the known minimum yield from the Federal Securities initially acquired, will not be sufficient to make any payment due to the holders of any of the respective Defeased Bonds as the respective Defeased Bonds Payments become due, the Escrow Bank shall notify the Board Representative in writing as soon as reasonably practicable of such fact, the amount of such deficiency and the reason therefor.
Possible Deficiencies. If at any time the Escrow Agent shall have actual notice that the moneys in any of the respective Funds, including the anticipated proceeds of the Escrow Securities, will not be sufficient to make all payments required by Section 3 hereof from such Fund, the Escrow Agent shall notify the District, the Paying Agent and the Treasurer- Tax Collector in writing as soon as reasonably practicable of such fact and the amount of such deficiency. The Escrow Agent shall in no manner be responsible for any deficiencies in any Fund, other than as a result of its own negligence or willful misconduct. The Escrow Agent may conclusively rely on the report of a nationally recognized firm of independent certified public accountants delivered with respect to each Fund as to the sufficiency of the principal of and interest on the securities to pay interest on and principal and redemption price of the Prior Bonds and interest on the Refunding Bonds in accordance with Section 3.
Possible Deficiencies. A. If at any time it shall appear to the Escrow Agent that the money and any interest on and principal of the Federal Securities in escrow allocable for such use under this Escrow Agreement, including, without limitation, the known minimum yield from the Initial Federal Securities, will not be sufficient to make any required payment due on the Refunded Bond Requirements as the same becomes due, the Escrow Agent shall notify in writing the Finance Director as soon as reasonably practicable of such fact and the amount of such deficiency.
