Common use of Redemption Account Clause in Contracts

Redemption Account. Such moneys shall next be used for deposits into the Redemption Account in the Sinking Fund, after making the deposits provided for in subsections (A), (B), (C) and (D) above, and the Trustee shall deposit in said Redemption Account on the first day of each month, an amount which, together with funds deposited therein under Section 5.03 below, shall be necessary to make the funds on deposit therein equal the Sinking Fund Installment portion of the Accrued Aggregate Debt Service Requirement for such month with respect to Term Bonds maturing within such Fiscal Year. A separate subaccount shall be set up and maintained in said Redemption Account for each separate issue of Additional Bonds; provided, however, that the separate account for any Additional Bonds issued for the completion of any project shall be the same separate subaccount as for the Bonds originally issued to finance such project. The moneys in said Redemption Account shall be applied to the retirement of Xxxx Xxxxx, issued under the provisions of this Trust Agreement as follows: (a) The Trustee may, in its discretion, endeavor to purchase Term Bonds secured hereby and then Outstanding, on the most advantageous terms at a price not exceeding the price at which the Term Bonds may be redeemed by operation of the Redemption Account on the next ensuing redemption date, either by purchase in the open market or by publishing an appropriate notice at least once at least fourteen (14) days prior to the receipt of tenders in a newspaper or financial journal published in the City of New York, New York, calling for tenders of Term Bonds for purchase by the Trustee. The Trustee shall pay the interest accrued on Term Bonds so tendered and purchased to the date of delivery thereof from the Interest Account, and the purchase price from the separate account in the Redemption Account for such issue but no such purchase shall be made by the Trustee within the period of forty-five (45) days next preceding any interest payment date; and (b) Subject to the provisions of Article III of this Trust Agreement, the Trustee shall call for redemption on each interest payment date on which Term Bonds are subject to redemption, from moneys in the appropriate separate accounts in the Redemption Account for each issue of Term Bonds, such amount of Term Bonds then subject to redemption as with the redemption premium, if any, and all necessary and proper expenses incurred in connection therewith, will exhaust all moneys on deposit in the appropriate separate accounts in the Redemption Account on the forty-fifth (45th) day preceding such interest payment dates, as nearly as may be practicable; provided, however, that the Trustee shall not be required to call less than Ten Thousand Dollars ($10,000) principal amount of Term Bonds for prior redemption from each separate account in the Redemption Account at any one time. Such redemption shall be made pursuant to the provisions of Article III of this Trust Agreement. Not less than ten (10) days before the redemption date, the Trustee shall withdraw from the Interest Account and the appropriate separate accounts in the Redemption Account and set aside in separate accounts or deposit with the Paying Agents the respective amounts required for paying the interest on, and the principal and redemption premium, if any, of the Term Bonds so called for redemption from the appropriate separate accounts in the Redemption Account and shall pay all expenses in connection with such redemption from the appropriate separate accounts in the Redemption Account. Alternative Method of Satisfying Sinking Fund Installment. The Authority may satisfy its obligations under Section 5.02(E) above with respect to the Sinking Fund Installments, on or before the 45th day next preceding each principal payment date on which Term Bonds are to be retired pursuant to the Sinking Fund Installments, by delivering to the Trustee for cancellation, Term Bonds of the Series and maturity required to be redeemed on such principal payment date in any aggregate principal amount desired. Upon such delivery, the Authority will receive a credit against the amounts required to be deposited into the Interest Account and Redemption Account on account of such Term Bonds in an amount equal to 100% of the principal amount thereof so purchased and cancelled and the interest accruing thereon to the next succeeding Interest Payment Date. All Additional Bonds which are Term Bonds hereafter issued shall be on a parity with the Term Bonds initially issued hereunder and all deposits into the Redemption Account for different parity Term Bonds shall rank equally.

Redemption Account. Such moneys shall next be used for deposits into (a) Prior to the occurrence of a Payment Default, money in the Redemption Account during a Fiscal Year shall be applied during such Fiscal Year in the Sinking Fundorder of priority set forth below: (i) First, after making money in the deposits provided for in subsections (A), (B), (C) and (D) above, and the Trustee shall deposit in said Redemption Account shall be paid to the City to reimburse it for Interest Support Payments theretofore made during the then current Fiscal Year; (ii) Second, on the first day June 3 0th of each month, such Fiscal Year an amount whichof money in the Redemption Account, together with funds deposited therein under Section 5.03 belowup to the amount of interest on Outstanding Senior Bonds payable during the next succeeding Fiscal Year, shall be necessary transferred to make the funds on deposit therein equal the Sinking Fund Installment portion Senior Bond Account of the Accrued Aggregate Debt Service Requirement for Fund and an amount of money, up to the amount of interest on Outstanding Subordinate Bonds payable during the next succeeding Fiscal Year, shall be transferred to the Subordinate Bond Account of the Debt Service Fund; and (iii) Third, unless the Supplemental Indenture authorizing the issuance of the Initial Bonds provides otherwise, if any Outstanding Senior Bonds are subject to redemption at the option of the Corporation during the then current Fiscal Year, the money in the Redemption Account not required to be applied pursuant to clauses (i) or (ii) of this Section 5.08(a), at the direction the Corporation given or confinued in writing and in accordance with such month with respect direction shall be applied: (A) First, to Term purchase such Senior Bonds maturing at a purchase price not to exceed the Redemption Price of such Senior Bonds on the next date during such Fiscal Year on which such Senior Bonds are redeemable at the option of the Corporation or to redeem such Senior Bonds. The Senior Bonds to be so redeemed shall be the Senior Bonds of each maturity within a Series that are subject to redemption during such Fiscal Year and shall, as nearly as practicable taking into consideration the minimum denominations of such Bonds, be redeemed pro rata based upon the relationship that the principal amount of Senior Bonds of each maturity,. within a Series that is so redeemable bears to the aggregate principal of Senior Bonds that are redeemable during such Fiscal Year. A separate subaccount shall be set up 6211991 .22 First, the interest on all Outstanding Subordinate Bonds that are Supported Bonds (other than Funded Bonds) in direct order of Priority as the same is due and maintained payable, including upon redemption prior to maturity of such Outstanding Subordinate Bond; Second, the interest on all other Outstanding Subordinate Bonds (other than Funded Bonds) in said Redemption Account for each separate issue direct order of Additional Bonds; providedPriority as the same is due and payable, however, that the separate account for any Additional Bonds issued for the completion including upon redemption prior to maturity of any project shall be Outstanding Subordinate Bond as the same separate subaccount is due and payable, and Hedge A eement Payments relating to Subordinate Bonds and interest on any Parity Reimbursement Obligations relating to Subordinate Bonds as for the same is due and payable; and Third, the principal and Sinking Fund Installments of all Outstanding Subordinate Bonds originally issued (other than Funded Bonds) and the principal of any Parity Reimbursement Obligations relating to finance such project. The moneys in said Redemption Account shall be applied to Senior Bonds as the retirement of Xxxx Xxxxx, issued under the provisions of this Trust Agreement as follows: (a) The Trustee maysame is due and payable, in its discretion, endeavor to purchase Term Bonds secured hereby and then Outstanding, on the most advantageous terms at a price not exceeding the price at which the Term Bonds may be redeemed by operation each case in director order of the Redemption Account on the next ensuing redemption date, either by purchase Priority. Money in the open market or by publishing an appropriate notice at least once at least fourteen (14) days prior Subordinate Bond Account shall, upon a Payment Default, be transferred to the receipt of tenders in a newspaper or financial journal published in the City of New York, New York, calling for tenders of Term Bonds for purchase by the Trustee. The Trustee shall pay the interest accrued on Term Bonds so tendered and purchased to the date of delivery thereof from the Interest Account, and the purchase price from the separate account in the Redemption Account for such issue but no such purchase shall be made by the Trustee within the period of forty-five (45) days next preceding any interest payment date; and (b) Subject to the provisions of Article III of this Trust Agreement, the Trustee shall call for redemption on each interest payment date on which Term Bonds are subject to redemption, from moneys in the appropriate separate accounts in the Redemption Account for each issue of Term Bonds, such amount of Term Bonds then subject to redemption as with the redemption premium, if any, and all necessary and proper expenses incurred in connection therewith, will exhaust all moneys on deposit in the appropriate separate accounts in the Redemption Account on the forty-fifth (45th) day preceding such interest payment dates, as nearly as may be practicable; provided, however, that the Trustee shall not be required to call less than Ten Thousand Dollars ($10,000) principal amount of Term Bonds for prior redemption from each separate account in the Redemption Account at any one time. Such redemption shall be made pursuant to the provisions of Article III of this Trust Agreement. Not less than ten (10) days before the redemption date, the Trustee shall withdraw from the Interest Account and the appropriate separate accounts in the Redemption Account and set aside applied in separate accounts or deposit accordance with the Paying Agents the respective amounts required for paying the interest on, and the principal and redemption premium, if any, of the Term Bonds so called for redemption from the appropriate separate accounts in the Redemption Account and shall pay all expenses in connection with such redemption from the appropriate separate accounts in the Redemption Account. Alternative Method of Satisfying Sinking Fund Installment. The Authority may satisfy its obligations under Section 5.02(E) above with respect to the Sinking Fund Installments, on or before the 45th day next preceding each principal payment date on which Term Bonds are to be retired pursuant to the Sinking Fund Installments, by delivering to the Trustee for cancellation, Term Bonds of the Series and maturity required to be redeemed on such principal payment date in any aggregate principal amount desired. Upon such delivery, the Authority will receive a credit against the amounts required to be deposited into the Interest Account and Redemption Account on account of such Term Bonds in an amount equal to 100% of the principal amount thereof so purchased and cancelled and the interest accruing thereon to the next succeeding Interest Payment Date. All Additional Bonds which are Term Bonds hereafter issued shall be on a parity with the Term Bonds initially issued hereunder and all deposits into the Redemption Account for different parity Term Bonds shall rank equally5.08(b)(iv).

Redemption Account. Such moneys shall next be used for deposits into the Redemption Account in the Sinking Fund, after making the deposits provided for in subsections (A), (B), (C) and (D) above, and the Trustee shall deposit in said Redemption Account on the first day of each month, an amount which, together with funds deposited therein under Section 5.03 below, shall be necessary to make the funds on deposit therein equal the Sinking Fund Installment portion of the Accrued Aggregate Debt Service Requirement for such month with respect to Term Bonds maturing within such Fiscal Year. A separate subaccount shall be set up and maintained in said Redemption Account for each separate issue of Additional Bonds; provided, however, that the separate account for any Additional Bonds issued for the completion of any project shall be the same separate subaccount as for the Bonds originally issued to finance such project. The moneys in said Redemption Account shall be applied to the retirement of Xxxx Xxxxx, issued under the provisions of this Trust Agreement as follows: (a) The Trustee may, in its discretion, endeavor to purchase Term Bonds secured hereby and then Outstanding, on the most advantageous terms at a price not exceeding the price at which the Term Bonds may be redeemed by operation of the Redemption Account on the next ensuing redemption date, either by purchase in the open market or by publishing an appropriate notice at least once at least fourteen (14) days prior to the receipt of tenders in a newspaper or financial journal published in the City of New York, New York, calling for tenders of Term Bonds for purchase by the Trustee. The Trustee shall pay the interest accrued redeem on Term Bonds so tendered and purchased to the date set for the redemption thereof, as provided in Article V of delivery thereof from the Interest Accountthis Indenture, and the purchase price from the separate account in the Redemption Account for such issue but no such purchase shall be made by the Trustee within the period a principal amount of forty-five (45) days next preceding any interest payment date; and (b) Bonds then subject to redemption. Subject to the provisions of Article III of this Trust Agreementfollowing sentence, the Trustee shall call for redemption on each interest payment date on which Term Bonds are subject apply an amount credited to redemption, from moneys in the appropriate separate accounts in the Redemption Account for each issue of Term Bonds, such equal to the principal amount of Term Bonds then subject to redemption as with the redemption and premium, if any, and all necessary and proper expenses incurred in connection therewithof Bonds then subject to redemption, will exhaust all moneys on deposit in together with accrued interest thereon to the appropriate separate accounts in redemption date, to the Redemption Account payment of such Bonds on the fortyredemption date from funds described in Section 9.02(b). In the event a Direct-fifth (45th) day preceding such interest payment datesPay Credit Facility is in place, as nearly as may be practicable; provided, however, that the Trustee shall not be request a draw under the Direct-Pay Credit Facility in accordance with the terms thereof, in an amount equal to the amount required to call less than Ten Thousand Dollars ($10,000) pay the principal amount and premium, if any, of Term Bonds then to be redeemed, together with accrued interest thereon to the date set for prior redemption from each separate account in and shall notify the Redemption Account at any one timeCompany of the date and amount of such request. If sufficient amounts to make such payment are not available under Section 9.02(b)(ii)(I), the Trustee shall apply amounts, if any, available pursuant to Section 9.02 (b)(ii)(II), to the extent necessary, to such payment. Such redemption shall be made pursuant to the provisions of Article III of this Trust Agreement. Not less than ten (10) days before V. If the redemption date, price of the Trustee shall withdraw from the Interest Account and the appropriate separate accounts in the Redemption Account and set aside in separate accounts or deposit with the Paying Agents the respective amounts required for paying the interest on, and Bonds equal to the principal and redemption amount of Bonds then to be redeemed, together with premium, if any, and accrued interest thereon has been paid in full on the redemption date and all payments required under the Direct-Pay Credit Facility have been made, the Trustee shall apply remaining funds, if any, available pursuant to Section 9.02(b)(ii)(II) in an amount not to exceed the amount of the Term draw or borrowing under the Direct-Pay Credit Facility to reimburse the Credit Facility Issuer for such draw or borrowing after such draw or borrowing has been honored by the Credit Facility Issuer. Upon the retirement of any portion of the Bonds by redemption pursuant to the provisions of this Section 9.03, the Trustee shall file with the Authority and the Company a statement stating the amounts of the Bonds so called for redeemed and setting forth the date of their redemption from and the appropriate separate accounts amount paid as principal, premium and interest thereon. The expenses in connection with the redemption of the Bonds shall be paid by the Company as Additional Payments. All monies in the Redemption Account and shall pay all expenses in connection with such redemption from on the appropriate separate accounts in the Redemption Account. Alternative Method of Satisfying Sinking Fund Installment. The Authority may satisfy its obligations under Section 5.02(E) above with respect last Business Day prior to the Sinking Fund Installments, on or before the 45th day next preceding each principal payment date on which Term Bonds are to Stated Maturity shall be retired pursuant transferred to the Sinking Fund Installments, by delivering to the Trustee for cancellation, Term Bonds of the Series and maturity required to be redeemed on such principal payment date in any aggregate principal amount desired. Upon such delivery, the Authority will receive a credit against the amounts required to be deposited into the Interest Account and Redemption Account on account of such Term Bonds in an amount equal to 100% of the principal amount thereof so purchased and cancelled and the interest accruing thereon to the next succeeding Interest Payment Date. All Additional Bonds which are Term Bonds hereafter issued shall be on a parity with the Term Bonds initially issued hereunder and all deposits into the Redemption Account for different parity Term Bonds shall rank equallyPrincipal Account.

Redemption Account. Such moneys shall next be used for deposits into the Redemption Account in the Sinking Fund, after making the deposits provided for in subsections (A), (B), (C) and (D) above, and the Trustee shall deposit in said Redemption Account on the first day of each month, an amount which, together with funds deposited therein under Section 5.03 below, shall be necessary to make the funds on deposit therein equal the Sinking Fund Installment portion of the Accrued Aggregate Debt Service Requirement for such month with respect to Term Bonds maturing within such Fiscal Year. A separate subaccount shall be set up and maintained in said Redemption Account for each separate issue of Additional Bonds; provided, however, that the separate account for any Additional Bonds issued for the completion of any project shall be the same separate subaccount as for the Bonds originally issued to finance such project. The moneys in said Redemption Account shall be applied to the retirement of Xxxx Xxxxx, issued under the provisions of this Trust Agreement as follows: (a) The Trustee may, in its discretion, endeavor to purchase Term Bonds secured hereby and then Outstanding, on the most advantageous terms at a price not exceeding the price at which the Term Bonds may be redeemed by operation of the Redemption Account on the next ensuing redemption date, either by purchase in the open market or by publishing an appropriate notice at least once at least fourteen (14) days prior to the receipt of tenders in a newspaper or financial journal published in the City of New York, New York, calling for tenders of Term Bonds for purchase by the Trustee. The Trustee shall pay the interest accrued on Term Bonds so tendered and purchased to the date of delivery thereof from the Interest Account, and the purchase price from the separate account in the Redemption Account for such issue but no such purchase shall be made by the Trustee within the period of forty-five (45) days next preceding any interest payment date; and (b) Subject to the provisions of Article III of this Trust Agreement, the Trustee shall call for redemption on each interest payment date on which Term Bonds are subject to redemption, from moneys in the appropriate separate accounts in the Redemption Account for each issue of Term Bonds, such amount of Term Bonds then subject to redemption as with the redemption premium, if any, and all necessary and proper expenses incurred in connection therewith, will exhaust all moneys on deposit in the appropriate separate accounts in the Redemption Account on the forty-fifth (45th) day preceding such interest payment dates, as nearly as may be practicable; provided, however, that the Trustee shall not be required to call less than Ten Thousand Dollars ($10,000) principal amount of Term Bonds for prior redemption from each separate account in the Redemption Account at any one time. Such redemption shall be made pursuant to the provisions of Article III of this Trust Agreement. Not less than ten (10) days before the redemption date, the Trustee shall withdraw from the Interest Account and the appropriate separate accounts in the Redemption Account and set aside in separate accounts or deposit with the Paying Agents the respective amounts required for paying the interest on, and the principal and redemption premium, if any, of the Term Bonds so called for redemption from the appropriate separate accounts in the Redemption Account and shall pay all expenses in connection with such redemption from the appropriate separate accounts in the Redemption Account. Alternative Method of Satisfying Sinking Fund Installment. The Authority may satisfy its obligations under Section 5.02(E) above with respect to the Sinking Fund Installments, on or before the 45th day next preceding each principal payment date on which Term Bonds are to be retired pursuant to the Sinking Fund Installments, by delivering to the Trustee for cancellation, Term Bonds of the Series and maturity required to be redeemed on such principal payment date in any aggregate principal amount desired. Upon such delivery, the Authority will receive a credit against the amounts required to be deposited into the Interest Account and Redemption Account on account of such Term Bonds in an amount equal to 100% of the principal amount thereof so purchased and cancelled and the interest accruing thereon to the next succeeding Interest Payment Date. All Additional Bonds which are Term Bonds hereafter issued shall be on a parity with the Term Bonds initially issued hereunder and all deposits into the Redemption Account for different parity Term Bonds shall rank equally. In addition to the foregoing, if the Authority deposits moneys in to the Redemption Account for purposes other than with respect to mandatory sinking fund redemptions required under this Trust Agreement or any supplemental trust agreement executed under the terms hereof, such funds shall be applied at the direction of the Authority to call for redemption any Bonds or maturities thereof as specified by the Authority, provided that prior to such redemptions from proceeds of Bonds issued hereunder, the Authority shall have first received an opinion of Bond Counsel that the Authority’s the application of such Bond proceeds will not, in and of themselves cause the interest on such Bonds not to be excludable from gross income for federal income tax purposes.

Redemption Account. Such moneys shall next be used for deposits into the Redemption Account in the Sinking Fund, after making the deposits provided for in subsections (A), (B), (C) and (D) above, and the Trustee shall deposit in said Redemption Account on the first day of each month, an amount which, together with funds deposited therein under Section 5.03 below, shall be necessary to make the funds on deposit therein equal the Sinking Fund Installment portion of the Accrued Aggregate Debt Service Requirement for such month with respect to Term Bonds maturing within such Fiscal Year. A separate subaccount shall be set up and maintained in said Redemption Account for each separate issue of Additional Bonds; provided, however, that the separate account for any Additional Bonds issued for the completion of any project shall be the same separate subaccount as for the Bonds originally issued to finance such project. The moneys in said Redemption Account shall be applied to the retirement of Xxxx Xxxxx, issued under the provisions of this Trust Agreement as follows: (a) The Trustee may, in its discretion, endeavor to purchase Term Bonds secured hereby and then Outstanding, on the most advantageous terms at a price not exceeding the price at which the Term Bonds may be redeemed by operation of the Redemption Account on the next ensuing redemption date, either by purchase in the open market or by publishing an appropriate notice at least once at least fourteen (14) days prior to the receipt of tenders in a newspaper or financial journal published in the City of New York, New York, calling for tenders of Term Bonds for purchase by the Trustee. The Trustee shall pay the interest accrued on Term Bonds so tendered and purchased to the date of delivery thereof from the Interest Account, and the purchase price from the separate account in the Redemption Account for such issue but no such purchase shall be made by the Trustee within the period of forty-five forty‐five (45) days next preceding any interest payment date; and (b) Subject to the provisions of Article III of this Trust Agreement, the Trustee shall call for redemption on each interest payment date on which Term Bonds are subject to redemption, from moneys in the appropriate separate accounts in the Redemption Account for each issue of Term Bonds, such amount of Term Bonds then subject to redemption as with the redemption premium, if any, and all necessary and proper expenses incurred in connection therewith, will exhaust all moneys on deposit in the appropriate separate accounts in the Redemption Account on the forty-fifth forty‐fifth (45th) day preceding such interest payment dates, as nearly as may be practicable; provided, however, that the Trustee shall not be required to call less than Ten Thousand Dollars ($10,000) principal amount of Term Bonds for prior redemption from each separate account in the Redemption Account at any one time. Such redemption shall be made pursuant to the provisions of Article III of this Trust Agreement. Not less than ten (10) days before the redemption date, the Trustee shall withdraw from the Interest Account and the appropriate separate accounts in the Redemption Account and set aside in separate accounts or deposit with the Paying Agents the respective amounts required for paying the interest on, and the principal and redemption premium, if any, of the Term Bonds so called for redemption from the appropriate separate accounts in the Redemption Account and shall pay all expenses in connection with such redemption from the appropriate separate accounts in the Redemption Account. Alternative Method of Satisfying Sinking Fund Installment. The Authority may satisfy its obligations under Section 5.02(E) above with respect to the Sinking Fund Installments, on or before the 45th day next preceding each principal payment date on which Term Bonds are to be retired pursuant to the Sinking Fund Installments, by delivering to the Trustee for cancellation, Term Bonds of the Series and maturity required to be redeemed on such principal payment date in any aggregate principal amount desired. Upon such delivery, the Authority will receive a credit against the amounts required to be deposited into the Interest Account and Redemption Account on account of such Term Bonds in an amount equal to 100% of the principal amount thereof so purchased and cancelled and the interest accruing thereon to the next succeeding Interest Payment Date. All Additional Bonds which are Term Bonds hereafter issued shall be on a parity with the Term Bonds initially issued hereunder and all deposits into the Redemption Account for different parity Term Bonds shall rank equally.

Redemption Account. Such moneys (A) There shall next be used for deposits into deposited in the Redemption Account in all amounts which are required to be deposited therein pursuant to this Indenture and any Supplemental Indenture and any other amounts available therefor and determined by the Sinking FundAgency to be deposited therein. Subject to the provisions of this Indenture or of any Supplemental Indenture authorizing the issuance of a Series of Bonds, after making requiring the deposits provided for in subsections (A)application thereof to the payment, (B)purchase or redemption of any particular Bonds, (C) and (D) above, and the Trustee shall deposit apply any amounts deposited in said the Redemption Account to the purchase or redemption of Bonds at the times and in the manner provided in this Section and Article VI.‌ (B) At any time before the forty-fifth day prior to the day upon which Bonds are to be paid or redeemed from such amounts, the Trustee shall, if so directed in writing by the Agency, apply amounts in the Redemption Account to the purchase of any of the Bonds which may be paid or redeemed by application of amounts on deposit therein. The Trustee shall purchase Bonds at such times, for such prices, in such amounts and in such manner as the first day Agency shall from time to time direct. The foregoing notwithstanding, unless specifically directed otherwise by written instructions of each monthan Authorized Officer and accompanied by a Cash Flow Statement pursuant to Section 7.16, any monies in the Redemption Account resulting from Recoveries of Principal shall be applied to the purchase or redemption of Bonds of the Series issued to finance the Borrower Loans which gave rise to the Recoveries of Principal, such Bonds to be purchased or redeemed on a reasonably proportionate basis among all maturities of such Series based upon the principal amount of such Bonds then Outstanding, and in the event that Sinking Fund Payments have been established for any Bond so purchased or redeemed, an amount which, together with funds deposited therein under Section 5.03 below, equal to the principal amount of the Bond so purchased or redeemed shall be necessary to make the funds on deposit therein equal the credited toward such Sinking Fund Installment portion Payments on a reasonably proportionate basis among such Sinking Fund Payments based upon the principal amount of such Sinking Fund Payments. In the Accrued Aggregate Debt Service Requirement event that Sinking Fund Payments have been established for any Bond purchased or redeemed from amounts in the Redemption Account not resulting from Recoveries of Principal, such month with respect to Term Bonds maturing within such Fiscal Year. A separate subaccount Sinking Fund Payments shall be set up credited in the manner provided in Section 5.4(D). The purchase price paid by the Trustee (excluding accrued interest but including any brokerage and maintained in said other charges) for any Bond purchased shall not exceed the Redemption Account for each separate issue of Additional Price on such Bonds, if then subject to redemption, or if not subject to redemption, the Redemption Price payable on any such date upon which such Bond is next subject to redemption other than from Sinking Fund Payments; provided, however, that the separate account for any Additional Bonds issued for the completion of any project shall be the same separate subaccount as for the Bonds originally issued to finance such project. The moneys in said Redemption Account shall be applied that, to the retirement extent permitted by law, the purchase of Xxxx Xxxxx, issued under such Bonds may be at prices exceeding that set forth above in this subsection (B) if (x) the provisions difference between purchase price and the Redemption Price is paid from funds of this Trust Agreement as follows: the Agency or (ay) The the Agency shall have filed with the Trustee may, in its discretion, endeavor a Cash Flow Statement pursuant to Section 7.16. In the event the Trustee is able to purchase Term Bonds secured hereby and then Outstanding, on the most advantageous terms at a price not exceeding less than the price Redemption Price at which such Bonds were to be redeemed, then, upon the Term Bonds may be redeemed payment by operation the Trustee of the purchase price of such Bonds, the Trustee shall transfer the difference between the amount of such purchase price and the amount of such Redemption Account on Price to, and deposit the next ensuing redemption datesame in, either by the Revenue Account. (C) Except as otherwise specifically provided herein, the Trustee shall have no obligation to purchase in or attempt to purchase Bonds at a price below the open market Redemption Price or by publishing an appropriate notice at least once at least fourteen (14) days prior to the receipt of tenders in a newspaper or financial journal published in the City of New York, New York, calling for tenders of Term Bonds for any other price and any arms length purchase by the Trustee. The Trustee shall pay the interest accrued on Term Bonds so tendered conclusively be deemed fair and purchased reasonable. (D) Notwithstanding anything to the date of delivery thereof from the Interest Accountcontrary contained in this Section, and the if, pursuant to a Supplemental Indenture, amounts obtained under a Credit Facility are to be used to purchase price from the separate account or redeem Bonds, then amounts in the Redemption Account which would otherwise have been used for such issue but no such purchase shall be made by the Trustee within the period of forty-five (45) days next preceding any interest payment date; and (b) Subject to the provisions of Article III of this Trust Agreement, the Trustee shall call for redemption on each interest payment date on which Term Bonds are subject to redemption, from moneys in the appropriate separate accounts in the Redemption Account for each issue of Term Bonds, such amount of Term Bonds then subject to redemption as with the redemption premium, if any, and all necessary and proper expenses incurred in connection therewith, will exhaust all moneys on deposit in the appropriate separate accounts in the Redemption Account on the forty-fifth (45th) day preceding such interest payment dates, as nearly as purposes may be practicable; providedapplied to reimburse the Credit Facility Provider for the amounts so obtained, however, that the Trustee shall not be required to call less than Ten Thousand Dollars ($10,000) principal amount of Term Bonds for prior redemption from each separate account all in the Redemption Account at any one time. Such redemption shall be made pursuant to the provisions of Article III of this Trust Agreement. Not less than ten (10) days before the redemption date, the Trustee shall withdraw from the Interest Account and the appropriate separate accounts in the Redemption Account and set aside in separate accounts or deposit with the Paying Agents the respective amounts required for paying the interest on, and the principal and redemption premium, if any, of the Term Bonds so called for redemption from the appropriate separate accounts in the Redemption Account and shall pay all expenses in connection accordance with such redemption from the appropriate separate accounts in the Redemption Account. Alternative Method of Satisfying Sinking Fund Installment. The Authority may satisfy its obligations under Section 5.02(E) above with respect to the Sinking Fund Installments, on or before the 45th day next preceding each principal payment date on which Term Bonds are to be retired pursuant to the Sinking Fund Installments, by delivering to the Trustee for cancellation, Term Bonds of the Series and maturity required to be redeemed on such principal payment date in any aggregate principal amount desired. Upon such delivery, the Authority will receive a credit against the amounts required to be deposited into the Interest Account and Redemption Account on account of such Term Bonds in an amount equal to 100% of the principal amount thereof so purchased and cancelled and the interest accruing thereon to the next succeeding Interest Payment Date. All Additional Bonds which are Term Bonds hereafter issued shall be on a parity with the Term Bonds initially issued hereunder and all deposits into the Redemption Account for different parity Term Bonds shall rank equallySupplemental Indenture.