Common use of Reimbursement of Certain Liquidity Drawings Under the Letter of Credit; Liquidity Advances; Prepayment Clause in Contracts

Reimbursement of Certain Liquidity Drawings Under the Letter of Credit; Liquidity Advances; Prepayment. (a) If the conditions precedent contained in Section 3.2 hereof are satisfied at the time of payment by the Issuing Bank of a Liquidity Drawing, such Liquidity Drawing made under the Letter of Credit shall constitute an advance (“Liquidity Advance”) to the Applicant. The Applicant promises to pay to the Administrative Agent for the account of the Issuing Bank and, to the extent a Bank made a payment pursuant to Section 2.5 hereof to reimburse the Issuing Bank, such Bank, the portion of each Liquidity Advance representing the interest component of the purchase price of the Bonds and the corresponding Bank Bonds prior to or immediately upon making by the Issuing Bank of each LC Disbursement in respect thereof at the times set forth in the Letter of Credit on the date of each such LC Disbursement. The Applicant promises to pay to the Administrative Agent for the account of the Issuing Bank and, to the extent a Bank made a payment pursuant to Section 2.5 hereof to reimburse the Issuing Bank, such Bank, the portion of each Liquidity Advance representing the principal component of the purchase price of the Bonds and the corresponding Bank Bonds on the earliest of (i) the date on which any Bank Bonds are redeemed or cancelled pursuant to the Indenture, (ii) the date on which any Bank Bonds are remarketed pursuant to the Indenture, (iii) the date on which the Letter of Credit is replaced by a substitute letter of credit pursuant to the terms of the Indenture and the Loan Agreement, and (iv) the Termination Date.

Reimbursement of Certain Liquidity Drawings Under the Letter of Credit; Liquidity Advances; Prepayment. (a) If the conditions precedent contained in Section 3.2 hereof are satisfied at the time of payment by the Issuing Bank of a Liquidity Drawing, such Liquidity Drawing made under the Letter of Credit shall constitute an advance (“Liquidity Advance”) to the Applicant. The Applicant promises to pay to the Administrative Agent for the account of the Issuing Bank and, to the extent a Bank made a payment pursuant to Section 2.5 hereof to reimburse the Issuing Bank, such Bank, the portion of each Liquidity Advance representing the interest component of the purchase price of the Bonds and the corresponding Bank Pledged Bonds prior on the earliest of (i) the date on which any Pledged Bonds are redeemed or cancelled pursuant to or immediately upon making by the Issuing Bank of each LC Disbursement in respect thereof at Indenture, (ii) the times set forth in date on which any Pledged Bonds are remarketed pursuant to the Indenture, (iii) the date on which the Letter of Credit on is replaced by a substitute letter of credit pursuant to the terms of the Indenture and the Loan Agreement, (iv) the regularly scheduled interest payment date for the Bonds next succeeding the date on which such Liquidity Advance was made, (v) the date on which any Event of each such LC DisbursementDefault occurs hereunder, and (vi) the Termination Date. The Applicant promises to pay to the Administrative Agent for the account of the Issuing Bank and, to the extent a Bank made a payment pursuant to Section 2.5 hereof to reimburse the Issuing Bank, such Bank, the portion of each Liquidity Advance representing the principal component of the purchase price of the Bonds and the corresponding Bank Pledged Bonds on the earliest of (i) the date on which any Bank Pledged Bonds are redeemed or cancelled pursuant to the Indenture, (ii) the date on which any Bank Pledged Bonds are remarketed pursuant to the Indenture, (iii) the date on which the Letter of Credit is replaced by a substitute letter of credit pursuant to the terms of the Indenture and the Loan Agreement, (iv) the date on which any Event of Default occurs hereunder, and (ivv) the Termination Date.