Common use of Repair and Replacement Fund Clause in Contracts

Repair and Replacement Fund. The Trustee shall establish and hold the Repair and Replacement Fund for the financial benefit of the Project and shall deposit into the accounts therein such amounts specified in Section 5.4 on the Closing Date and thereafter into the Unrestricted Account thereof the amounts specified in Section 5.4 and in Section 5.7(g). Moneys deposited in the Repair and Replacement Fund shall be held therein segregated from other funds held by the Trustee until disbursed for the purposes hereafter provided. Expenditures from the Repair and Replacement Fund which are not included in the annual budget and Exhibit C of the Loan Agreement shall be subject to the Oversight Agent’s approval. Disbursements from the Restricted Account of the Repair and Replacement Fund shall be made upon the written request of the Borrower and approved in writing by the Oversight Agent solely for the purpose of funding capital improvements to the Project, including certain of the items set forth in Exhibit C to the Loan Agreement and capital improvements to the Project identified in the annual budget filed by the Borrower pursuant to the Loan Agreement, or to redeem Bonds. Disbursements from the Unrestricted Account of the Repair and Replacement Fund shall be made upon the written request of the Borrower for the purpose of effecting the remaining items set forth in Exhibit C to the Loan Agreement or for any other purpose for the benefit of the Project in accordance with the annual budget filed by the Borrower pursuant to the Loan Agreement or for such other similar purposes which the Oversight Agent shall reasonably direct, including maintenance costs, replacement of machinery and appliances and including, if necessary, making payments for debt service on the Bonds. Moneys in the Repair and Replacement Fund shall be disbursed upon the written request of the Borrower in accordance with the provisions of Section

Repair and Replacement Fund. The Trustee shall establish and hold the Repair and Replacement Fund for the financial benefit of the Project and shall deposit into the accounts therein such amounts specified in Section 5.4 on the Closing Date and thereafter into the Unrestricted Account thereof the amounts specified in Section 5.4 and in Section 5.7(g)) hereof. Moneys deposited in the Repair and Replacement Fund shall be held therein segregated from other funds held by the Trustee until disbursed for the purposes hereafter provided. Expenditures from the Repair and Replacement Fund which are not included in the annual budget and Exhibit C of the Loan Agreement shall be subject to the Oversight Agent’s approval. Disbursements from the Restricted Account of the Repair and Replacement Fund shall be made upon the written request of the Borrower and approved in writing by the Oversight Agent solely for the purpose of funding capital improvements to the Project, including certain of the items set forth in Exhibit C to the Loan Agreement and capital improvements to the Project identified in the annual budget filed by the Borrower pursuant to the Loan Agreement, or to redeem Bonds. Disbursements from the Unrestricted Account of the Repair and Replacement Fund shall be made upon the written request of the Borrower for the purpose of effecting the remaining items set forth in Exhibit C to the Loan Agreement or for any other purpose for the benefit of the Project in accordance with the annual budget filed by the Borrower pursuant to the Loan Agreement or for such other similar purposes which the Oversight Agent shall reasonably direct, including maintenance costs, replacement of machinery and appliances and including, if necessary, making payments for debt service on the Bonds. Moneys in the Repair Unrestricted Account shall not be used to pay debt service on the Bonds unless the Trustee shall have either (i)(A) had in its possession, for a period of at least ninety-one (91) days prior to the payment date, said amount, and Replacement Fund shall be disbursed upon (B) received a certificate of an Authorized Borrower Representative to the written request effect that the Borrower has neither commenced a voluntary case under Title 11 of the Borrower United States Code as from time to time in accordance with effect nor authorized by appropriate proceedings of its board of directors the provisions commencement of Sectionsuch a voluntary case, or

Repair and Replacement Fund. The Trustee shall establish and hold the Repair and Replacement Fund for the financial benefit of the Project and shall deposit into the accounts therein such amounts specified in Section 5.4 on the Closing Date and thereafter into the Unrestricted Account thereof the amounts specified in Section 5.4 and in Section 5.7(g5.7(i). Moneys deposited in the Repair and Replacement Fund shall be held therein segregated from other funds held by the Trustee until disbursed for the purposes hereafter provided. Expenditures from the Repair and Replacement Fund which are not included in the annual budget and Exhibit C of the Loan Agreement shall be subject to the Oversight Agent’s approval. Disbursements from the Restricted Account of the Repair and Replacement Fund shall be made upon the written request of the Borrower and approved in writing by the Oversight Agent solely for the purpose of funding capital improvements to the Project, including certain of the items set forth in Exhibit C to the Loan Agreement and capital improvements to the Project identified in the annual budget filed by the Borrower pursuant to the Loan Agreement, or to redeem Series A Bonds. Disbursements from the Unrestricted Account of the Repair and Replacement Fund shall be made upon the written request of the Borrower for the purpose of effecting the remaining items set forth in Exhibit C to the Loan Agreement or for any other purpose for the benefit of the Project in accordance with the annual budget filed by the Borrower pursuant to the Loan Agreement or for such other similar purposes which the Oversight Agent shall reasonably direct, including maintenance costs, replacement of machinery and appliances and including, if necessary, making payments for debt service on the Bonds. Moneys in the Repair and Replacement Fund shall be disbursed upon the written request of the Borrower in accordance with the provisions of SectionSection 6.22 of the Loan Agreement. Interest earnings on moneys in the Repair and Replacement Fund will be deposited to the Revenue Fund. The Trustee shall also accept for deposit into the Unrestricted Account of the Repair and Replacement Fund, any other moneys delivered from time to time by the Borrower, including, without limitation, transfers from the Surplus Fund, with directions for deposit to such account of the Repair and Replacement Fund. Moneys in the Repair and Replacement Fund shall be expended in accordance with the written instruction of the Borrower which instructions shall comply with the terms of the Tax Certificate.