Repayment Fund. (a) The Paying Agent will deposit (i) in the Principal Account of the Repayment Fund, the principal component of each Quarterly Payment and any other moneys received from the Participant for deposit in the Principal Account, and (ii) in the Interest Account of the Repayment Fund, the balance of the Quarterly Payment and any other moneys received from the Participant for deposit in the Interest Account.
Repayment Fund. There is hereby created in connection with the Series 2023-A Notes a Repayment Fund. The Trustee will maintain the Repayment Fund and deposit therein the Co-Obligor Payments made by the Co-Obligors to the Trustee on each Co-Obligor Payment Date. Amounts in the Repayment Fund shall be withdrawn by the Trustee on each Transfer Date and deposited first (a) to the Debt Service Fund an amount sufficient to pay the principal of and interest on the Series 2023-A Notes on the next Note Payment Date, and then (b) to the Expense Fund. Interest earnings on amounts invested in the Repayment Fund will be withdrawn by the Trustee on each Transfer Date and transferred to the Interest Earnings Fund.
Repayment Fund. On the effective date of this act, all liabilities of the 10 medical scholarship and loan repayment fund are hereby imposed on the 11 medical loan repayment fund and the medical scholarship and loan 12 repayment fund is hereby abolished. Whenever the medical scholarship 13 and loan repayment fund, or words of like effect, is referred to or 14 designated by any statute, contract or other document, such reference or 15 designation shall be deemed to apply to the medical loan repayment 16 fund.
Repayment Fund. Section 8(c) of the Original Escrow Agreement is hereby amended and restated as follows:
Repayment Fund. (c) If the first transfer in accordance with clause (b)(1) above would not occur by the first anniversary of the Initiation of Operations, the Paying Agent, on the first day of the calendar month next preceding the first anniversary of the Initiation of Operations, will transfer from the Principal Account to the Debt Service Fund an amount equal to one quarterly installment of principal paid under the Resolution. In addition, on the first day of the month which is not more than 30 years after the Initiation of Operations, all remaining amounts in the Principal Account will be transferred to the Debt Service Fund.
