Priority of Payments After Default. If at any time the money held by the Trustee hereunder and under each Supplemental Indenture shall not be sufficient to pay the principal of and interest on the Bonds as the same become due and payable, such money together with any money then available or thereafter becoming available for such purpose, whether through exercise of the remedies provided for in this Article XI or otherwise, shall be applied (after payment of all amounts owing to the Trustee hereunder) as follows:
Priority of Payments After Default. (A) In the event that upon the happening and continuance of any Event of Default the funds held by the Trustee shall be insufficient for the payment of the principal or Redemption Price, if any, of and interest then due on the Bonds affected, such funds (other than funds held for the payment or redemption of particular Bonds which have theretofore become due at maturity or by call for redemption) and any other amounts received or collected by the Trustee acting pursuant to the Act and this Article, after making provision for the payment of any expenses necessary in the opinion of the Trustee to protect the interest of the owners of such Bonds and for the payment of the charges and expenses and liabilities incurred and advances made by the Trustee in the performance of its duties under this Indenture, shall be applied as follows:
(1) Unless the principal of all of such Bonds shall have become or have been declared due and payable:
Priority of Payments After Default. 46 Section 9.5. Termination of Proceedings 48 Section 9.6. Direction of Proceedings 49 Section 9.7. Limitation on Rights of Note Owners 49 Section 9.8. Possession of Notes by Trustee Not Required 50 Section 9.9. Remedies Not Exclusive 50 Section 9.10. No Waiver of Default 50 Section 9.11. Notice of Event of Default 51 ARTICLE X
Priority of Payments After Default. (A) In the event that upon the happening and continuance of any Event of Default the funds held by the Trustee and Paying Agents shall be insufficient for the payment of principal and interest then due on the Notes (other than funds held for the payment of particular Notes which have theretofore become due at maturity) and any other amounts received or collected by the Trustee acting pursuant to this Article, after making provision for the payment of any expenses necessary in the opinion of the Trustee to protect the interest of the owners of the Notes and for the payment of the charges expenses and liabilities incurred and advances made by the Trustee or any paying agents in the performance of their respective duties under this Trust Agreement, shall be applied as follows;
(1) Unless the principal of all of the Notes shall have become or have been declared due and payable:
Priority of Payments After Default. In the event that the funds held by the Trustee shall be insufficient for the payment of interest and principal and redemption premium, if any, then due on the Bonds, such funds and any other moneys received or collected by the Trustee acting pursuant to this Article VI, after making provision for the payment of any fees and expenses necessary in the opinion of the Trustee to protect the interest of the holders of the Bonds and for the payment of the fees, charges and expenses (including but not limited to attorneys’ fees and expenses) and liabilities incurred and advances made by the Trustee in the performance of its duties under this Indenture, and the creation of a reasonable reserve for anticipated fees, costs and expenses, shall be applied as follows (other than funds held for the payment or redemption of particular Bonds which have theretofore become due at maturity or by call for redemption or for interest on Bonds which have theretofore become due):
Priority of Payments After Default. 66 Section 10.04.
Priority of Payments After Default. (a) In the event that upon the occurrence and during the continuance of any Event of Default, the funds held by the Trustee and Paying Agents shall be insufficient for the payment of principal or Redemption Price of and interest then due on the Notes, such funds (other than funds held for the payment of particular Notes pursuant to Article XII hereof or which have theretofore become due at maturity) and any other amounts received or collected by the Trustee acting pursuant to this Article, after providing for the payment of any fees and expenses, including attorney's fees, necessary in the opinion of the Trustee to protect the interest of the Registered Owners of the Notes and for the payment of the fees, charges and expenses and liabilities incurred and advances made by the Trustee or another Indenture Agent in the performance of their respective duties under this Indenture, including any fees due and owing (except that no lien shall attach to the proceeds of any drawing under a Credit Facility or Liquidity Facility or on any remarketing proceeds for the payment of such fees, charges and expenses), shall be applied as follows:
(i) If the principal of all of the Notes is not due and payable:
Priority of Payments After Default. (a) In the event that upon the happening and continuance of any Event of Default the funds held by the Trustee are insufficient for the payment of principal and interest then due on the Bonds (other than funds held for the payment of particular Bonds which have theretofore become due at maturity or prior redemption), any other amounts received or collected by the Trustee acting pursuant to this Article, other than the proceeds of any Credit Enhancement or the proceeds of the remarketing of any Bonds (which shall, in each case, be held for the payment of the particular Bonds with respect to which such proceeds were received), after making provision for the payment of any expenses necessary in the opinion of the Trustee to protect the interest of the owners of the Bonds (including, without limitation, Trustee Fees, Credit Enhancement Fees, Servicing Fees and Issuer Fees in the order of priority set forth in Section 5.3(b) hereof) and for the payment of the charges, expenses and liabilities incurred and advances made by the Trustee in the performance of its duties under this Indenture, shall be applied as follows:
(i) Unless the principal of all of the Bonds shall have become or have been declared due and payable: FIRST: to the payment to the persons entitled thereto of all installments of interest then due (which for purposes of clarification does not include any Contingent Default Amount), in the order of Senior Bonds first and thereafter Senior Subordinate Bonds, then Subordinate Bonds and finally Junior Subordinate Bonds (or, in each case, to any Credit Provider as reimbursement for amounts paid with respect to such Bonds, in the applicable order of priority), and in order of the maturity of such installments, and, if the amount available shall not be sufficient to pay in full any installment, then to the payment thereof ratably, according to the amounts due on such installment, to the persons entitled thereto, without any discrimination or preference (other than Senior Bonds prior to Senior Subordinate Bonds, Senior Subordinate Bonds prior to Subordinate Bonds and Subordinate Bonds prior to Junior Subordinate Bonds); and
Priority of Payments After Default. (a) Except as limited by paragraph
(i) Unless the principal of all the Bonds shall have become or been declared due and payable, all such moneys shall be applied:
Priority of Payments After Default. In the event that the funds held by the Trustee and Paying Agents shall be insufficient for the payment of interest and principal or Redemption Price then due on the Senior Bonds, such funds (other than funds held for the payment or redemption of particular Senior Bonds which have theretofore become due at maturity or by call for redemption) and any other moneys received or collected by the Trustee acting pursuant to the Act and this Article XI, after making provision for the payment of any expenses necessary in the opinion of the Trustee to protect the interests of the Holders of the Senior Bonds, and for the payment of the charges and expenses and liabilities incurred and advances made by the Trustee in the performance of its duties under this Indenture, shall be applied as follows:
