Principal Fund. The Trustee, on each Principal Payment Date and Mandatory Sinking Account Payment Date, shall deposit in each account within the Principal Fund that amount of moneys evidencing the portion of the Base Rental Payments designated as the principal component coming due on such Principal Payment Date or Mandatory Sinking Account Payment Date with respect to the corresponding Series of Certificates.
Principal Fund. The Trustee, on the Principal Payment Date, shall deposit in the Principal Fund that amount of money representing the principal becoming due and payable on the Notes. All moneys in the Principal Fund shall be used and withdrawn by the Trustee solely for the purpose of paying the principal evidenced and represented by the Note Participations on the Principal Payment Date. SECTION 5.03. Reserved.
Principal Fund. On the Business Day immediately preceding each July 1, commencing July 1, 20 , the Trustee shall transfer from the Base Rental Fund to the Principal Fund the amount, if any, necessary to cause the amount on deposit in the Principal Fund to be equal to the principal amount of the Bonds due on such July 1, either as a result of the maturity thereof or mandatory sinking fund redemption payments required to be made with respect thereto. Moneys in the Principal Fund shall be used by the Trustee for the purpose of paying the principal of the Bonds when due and payable at their maturity dates or upon earlier mandatory sinking fund redemption.
Principal Fund. A Principal Fund shall be established by the Trustee. The Principal Fund shall consist of cash in the amount of $602.33. The Principal Fund shall be an Eligible Account and, as soon as practicable, after the Closing Date, the Trustee shall invest any moneys on deposit in the Principal Fund in Permitted Investments at the direction of the Master Servicer. On the Business Day preceding the March 25, 1998 Distribution Date, the Trustee shall withdraw the entire amount from the Principal Fund (excluding any earnings thereon) and deposit such amount into the Asset Proceeds Account. Such entire amount shall be used to make distributions of principal with respect to the Group I Certificates on such Distribution Date. Any earnings on the Principal Fund shall be payable on such date to the Master Servicer.
Principal Fund. The Trust Administrator shall deposit in the Principal Fund before August 1 of each year, an amount of money from the Installment Payment Fund equal to the Principal Component Payment payable on such Principal Payment Date. All money in the Principal Fund shall be used by the Trust Administrator to pay or purchase the Certificates in accordance with Article IV hereof; provided that any earnings on deposit in the Principal Fund after payment of Principal Component Payment of the Certificates on a Principal Payment Date shall be transferred to the Installment Payment Fund.
Principal Fund. (a) Monies deposited in the Principal Fund on any Funding Date shall be allocated ratably among sub-funds of the Principal Fund established for each series of Securities and (without duplication) each Project Note based on the principal and premium, if any, due and payable on the Securities and Project Notes at the next succeeding Principal Payment Date falling on or within six months following such Funding Date. Except as otherwise provided in this Depositary Agreement, monies in such sub- funds shall be used for the payment (without duplication), when due and payable (whether at the Principal Payment Date or otherwise), of principal and premium, if any, with respect to the related series of Securities.
(b) On any Funding Date that amounts for the payment of principal of and premium, if any, on any given series or any specific notes or bonds within a particular series of Securities and (without duplication) any Project Note are due and payable and have been requisitioned in accordance with Section 3.2(c), the Depositary Agent shall withdraw the monies on deposit in the sub-fund of the Principal Fund allocated for such series of Securities, and remit such monies to the Persons entitled thereto for the payment of such principal and premium, if any; provided, however, that the Depositary Agent shall segregate such amounts from any other amounts on deposit in the Principal Fund until such time as payment is made to Persons entitled thereto.
(c) In the event that monies in the Principal Fund exceed the amount of money required by this Depositary Agreement to be deposited therein after giving effect to the payment made on such Principal Payment Date, the Depositary Agent shall transfer such excess monies from the Principal Fund to the Revenue Fund on such Principal Payment Date.
Principal Fund. All money in the Principal Fund shall be used and withdrawn by the Trustee solely for the purpose of paying the principal on the Bonds as it shall become due and payable, whether on Bond Payment Dates or redemption, except that any money in any sinking fund account shall be used and withdrawn by the Trustee only to purchase or to redeem or to pay Term Bonds for which such sinking fund account was created.
Principal Fund. On or before each Principal Payment Date, the Fiscal Agent shall deposit in the Principal Fund an amount equal to (a) the aggregate amount of principal becoming due and payable on the Outstanding Bonds on the next succeeding Principal Payment Date provided that, if the City certifies to the Fiscal Agent that any principal payments shall be refunded on or prior to their respective due dates, no amounts need be set aside towards such principal to be so refunded. No deposit need be made into the Principal Fund so long as there shall be in such fund moneys sufficient to pay the principal of Bonds issued hereunder and then Outstanding and maturing by their terms within the next twelve (12) months. At the beginning of each Fiscal Year and in any event not later than July 15 of each year, the Fiscal Agent shall request from the City a Certificate of the City setting forth the principal payments for which deposits will not be necessary pursuant to the preceding sentence and the reason therefor.
Principal Fund. Subject to Section 4.9(c), moneys in the Principal Fund shall be used solely for the payment, when due (whether at the stated maturity or on call for redemption or by acceleration or otherwise), of principal with respect to the Bonds and, in case there shall be insufficient amounts to pay in full the whole amount so due and payable, then to the payment of such principal and premium, if any, ratably, without preference or priority of any Bond over any other Bond. At the time any payment of principal with respect to the Bonds is due, the Trustee shall withdraw the moneys for such payment from the Principal Fund and make such payment to the Holders.
Principal Fund. The Trustee shall deposit in the Principal Fund as soon as practicable in each month an amount equal to the principal amount of Notes maturing in the next forty (40) calendar days, or such longer period as shall be established in a Supplemental Indenture, which the Commission certifies in writing to the Trustee shall be paid from Revenues and which shall no longer be designated Excluded Principal Payments. The Trustee shall also deposit in the Principal Fund moneys provided by the Commission from grants received from the State or federal government, or any agency or instrumentality thereof, or any other source of funds of the Commission (other than from the issuance and delivery of Notes pursuant to the Issuing and Paying Agent Agreement) for the payment of principal of the Notes.
