Common use of Revenue Fund Clause in Contracts

Revenue Fund. (a) The Revenue Fund itself is not pledged to secure any of the Bonds or the Subordinate Obligations. The Trustee will credit to the Revenue Fund all Revenues immediately upon receipt. (b) At least once each month, not later than the last Business Day of each month, the Trustee shall make transfers from the Revenue Fund in the amounts and in the order of priority set forth below: FIRST: To each Debt Service Fund, ratably, as follows: (i) first, in each Interest Account an approximately equal amount each month during each Interest Period for the Related Series of Bonds such that (after taking into consideration the amount, if any, then on deposit in such Interest Account), on the fifth Business Day immediately preceding the next Interest Payment Date for the Series of Bonds, there will be on deposit in the Interest Account an amount equal to the interest on the Outstanding Bonds of the Series to become due on such Interest Payment Date; provided, however, if on the last Business Day of any month, the required deposit to the Interest Account for that month is not made with respect to any Series of Bonds, the requirement will be cumulative and will be added to the deposit required in each succeeding month until the deposit is made; and (ii) then, in each Principal Account an approximately equal amount each month during the Principal Period for the Related Series of Bonds such that (after taking into consideration the amount, if any, then on deposit in such Principal Account), on the fifth Business Day immediately preceding the next Principal Payment Date for the Series of Bonds, there will be on deposit in the Principal Account an amount equal to the principal and Accreted Value of the Outstanding Bonds of the Series maturing or required to be redeemed on such Principal Payment Date; provided, however; if on the last Business Day of any month, the required deposit to the Principal Account is not made with respect to any Series of Bonds, the requirement will be cumulative and will be added to the deposit required in each succeeding month until the deposit is made; SECOND: To the Revenue Stabilization Fund the amount, if any, required so that the balance in such Fund shall equal the Revenue Stabilization Requirement;

Revenue Fund. (a) The Trustee is hereby authorized and directed to establish a Revenue Fund itself is not pledged and pursuant to secure a Supplemental Indenture a Series Account for each Series of Bonds issued hereunder, into which the Trustee shall immediately deposit any and all Special Assessments received from the levy thereof on the District Lands or any portion thereof (other than Prepayments) and any amounts received as the result of any foreclosure, sale of tax certificates or other remedial action for nonpayment of Special Assessments for the payment of the related Series of Bonds and other payments required hereunder or under the Subordinate Obligationsapplicable Supplemental Indenture (unless such Special Assessments and/or other payments are specifically designated by the Issuer pursuant to a Supplemental Indenture for deposit into the Rebate Fund or any other Fund or Account established hereunder or under a Supplemental Indenture) and each Series Account therein shall be held by the Trustee separate and apart from all other Funds and Accounts held under the Indenture and from all other moneys of the Trustee. The Trustee will credit to shall transfer from amounts on deposit in the Series Account in the Revenue Fund all Revenues immediately to the Funds and Accounts designated below, the following amounts, at the following times and in the following order of priority unless other times and/or other priorities are established in a Supplemental Indenture with respect to a Series of Bonds: FIRST, upon receipt. (b) At least once each month, not receipt but no later than the last Business Day of each month, preceding the Trustee shall make transfers first May 1 for which there is an insufficient amount from the Revenue Fund Bond proceeds (or investment earnings thereon) on deposit in the amounts applicable Series Interest Account of the Debt Service Fund to be applied to the payment of interest on the Bonds of a Series due on the next succeeding May 1, and in no later than the order Business Day next preceding each May 1 thereafter while Bonds of priority set forth below: FIRST: To each a Series issued under the Indenture remain Outstanding, to the applicable Series Interest Account of the Debt Service Fund, ratably, as follows: (i) first, in each Interest Account an approximately equal amount each month during each Interest Period for the Related Series of Bonds such that (after taking into consideration the amount, if any, then on deposit in such Interest Account), on the fifth Business Day immediately preceding the next Interest Payment Date for the Series of Bonds, there will be on deposit in the Interest Account an amount equal to the interest on the Outstanding Bonds of the Series to become due on such Interest Payment Date; provided, however, if on the last Business Day of any month, the required deposit to the Interest Account for that month is not made with respect to any Series of Bonds, the requirement will be cumulative and will be added to the deposit required in each succeeding month until the deposit is made; and (ii) then, in each Principal Account an approximately equal amount each month during the Principal Period for the Related related Series of Bonds becoming due on the next succeeding May 1, less any amount on deposit in such that Interest Account not previously credited; SECOND, beginning on the date set forth in the related Supplemental Indenture, and no later than the Business Day next preceding each May 1 or November 1, as designated in the applicable Supplemental Indenture thereafter while Bonds of a Series issued under the Indenture remain Outstanding, to the applicable Series Principal Account of the Debt Service Fund, an amount equal to the principal amount of Bonds of such Series maturing on the next succeeding principal payment date, less any amount on deposit in the applicable Series Principal Account not previously credited; THIRD, beginning on the date set forth in the related Supplemental Indenture, and no later than the Business Day next preceding each May 1 or November 1, as so designated in the applicable Supplemental Indenture thereafter while Bonds of a Series issued under the Indenture remain Outstanding, to the applicable Series Sinking Fund Account of the Debt Service Fund, an amount equal to the principal amount of Bonds of such Series subject to mandatory sinking fund redemption on the next succeeding mandatory sinking fund redemption date, less any amount on deposit in the applicable Series Sinking Fund Account not previously credited; FOURTH, upon receipt but no later than the Business Day preceding the first November 1 for which there remains an insufficient amount from Bond proceeds (after taking into consideration or investment earnings thereon) on deposit in the applicable Series Interest Account to be applied to the payment of interest on the Bonds of a Series due on the next succeeding November 1, and no later than the Business Day next preceding each November 1 thereafter while Bonds of such Series issued under the Indenture remain Outstanding, to the applicable Series Interest Account of the Debt Service Fund, an amount equal to the interest on the Bonds of such Series becoming due on the next succeeding November 1, less any amount on deposit in the applicable Series Interest Account not previously credited; FIFTH, upon receipt but no later than the Business Day next preceding each Interest Payment Date while Bonds of a Series issued under the Indenture remain Outstanding, to the applicable Series Account of the Debt Service Reserve Fund, if any, an amount equal to the amount, if any, then which is necessary to make the amount on deposit therein equal to the Debt Service Reserve Requirement; SIXTH, subject to the foregoing paragraph, the balance of any moneys remaining in such Principal Account)a Series Account of the Revenue Fund after making the foregoing deposits shall, on the fifth Business Day immediately preceding the next Principal Payment Date for the Series of Bondssubject to application by one or more Supplemental Indentures shall remain therein, there will be on unless pursuant to any Arbitrage Certificate it is necessary to make a deposit in the Principal Account an amount equal Rebate Fund, in which case, the Issuer shall direct the Trustee to make such deposit thereto. The Trustee shall within ten (10) Business Days after the principal and Accreted Value last Interest Payment Date in any calendar year, at the direction of the Outstanding Bonds Issuer, withdraw any moneys held for the credit of the Series maturing or Revenue Fund which are not otherwise required to be redeemed on deposited pursuant to this Section and deposit such Principal Payment Date; providedmoneys as directed to the credit of the applicable Series Account of the Bond Redemption Fund in accordance with the provisions hereof. Notwithstanding the foregoing, however; if on pursuant to any Arbitrage Certificate it is necessary to make a deposit in the last Business Day of any monthRebate Fund, the required Issuer shall direct the Trustee to make such deposit thereto. Prepayments pledged to the Principal Account is not made with respect to any a particular Series of Bonds, Bonds shall be deposited directly into the requirement will be cumulative and will be added to applicable Series Account of the deposit required in each succeeding month until the deposit is made; SECOND: To the Revenue Stabilization Bond Redemption Fund the amount, if any, required so that the balance in such Fund shall equal the Revenue Stabilization Requirement;as provided herein.

Revenue Fund. (a) There is hereby established the Revenue Fund, which shall be maintained so long as any Parity Obligations remains outstanding. The Revenue Fund itself is not pledged to secure any Revenues of the Bonds or the Subordinate Obligations. The Trustee will credit to System shall be set aside monthly into the Revenue Fund all which shall constitute a separate and special fund hereby established, which fund shall be maintained as provided herein. The Revenues immediately upon receipt. (b) At least once each monthof the System so set aside into the Revenue Fund shall then be expended, not later than used and apportioned as follows. There shall be transferred on or before the last Business Day day of each month, the Trustee shall make transfers from the Revenue Fund in Fund: (1) To the amounts and in the order of priority set forth below: FIRST: To each Debt Service Sinking Fund, ratablyso long as any Parity Obligations remains outstanding, as follows: an amount equal to one-twelfth (i1/12) first, in each Interest Account an approximately equal of the principal amount each month during each Interest Period for of all the Related Series of Bonds such that (after taking into consideration the amount, if any, then on deposit in such Interest Account), Parity Obligations maturing on the fifth Business Day immediately preceding next February 1. (2) To the next Interest Payment Date for the Series of BondsSinking Fund, there will be on deposit in the Interest Account so long as any Parity Obligations remains outstanding, an amount equal to the sum of one-sixth of the interest requirements of any Parity Obligations coming due on the Outstanding Bonds next succeeding February 1 or August 1. (3) To the Debt Service Reserve, an amount equal to one-forty-eighth (1/48) of the Series maximum debt service requirements for any Parity Obligations, until such amount shall have been accumulated or restored, after which the monthly deposits may be discontinued, subject to become due on resumption if, whenever, and so long as same shall be reduced, by such Interest Payment Date; providedstipulated amount. (4) To the Depreciation Fund, howeverif, if on the last Business Day of any monthwhenever, the required deposit to the Interest Account for that month is not made with respect to any Series of Bonds, the requirement will be cumulative and will be added to the deposit required in each succeeding month until the deposit is made; and (ii) then, in each Principal Account an approximately equal amount each month during the Principal Period for the Related Series of Bonds such that (after taking into consideration the amount, if any, then on deposit in such Principal Account), on the fifth Business Day immediately preceding the next Principal Payment Date for the Series of Bonds, there will be on deposit in the Principal Account so long as an amount equal to the principal and Accreted Value Depreciation Reserve Requirement is not then being held in the Depreciation Fund, an amount, equal to one-thirty-sixth (1/36) of the Outstanding Bonds of the Series maturing or required to be redeemed on such Principal Payment Date; provided, however; if on the last Business Day of any month, the required deposit to the Principal Account is not made with respect to any Series of Bonds, the requirement will be cumulative and will be added to the deposit required in each succeeding month until the deposit is made; SECOND: To the Revenue Stabilization Fund the amount, if any, required Depreciation Reserve Requirement so that the balance in such the Depreciation Fund shall will equal the Depreciation Reserve Requirement in the month that is thirty-six months from the month such deficiency first existed. Thereafter such monthly payments may cease for so long as the required balance in the Depreciation Fund is maintained and such monthly payments shall resume again if at any time said balance is less than the Depreciation Reserve Requirement and shall continue until said balance is established. (5) To the Operation and Maintenance Fund, an amount which, together with any funds already on deposit therein, will be sufficient to pay, as they accrue, the proper and necessary costs of operating, maintaining and insuring the System, and to accumulate and maintain, in the Operation and Maintenance Fund, an amount sufficient to pay all costs of operating, maintaining and insuring the System for two (2) full months. (6) On a periodic basis, but no less frequently than annually, the Revenues remaining in the Revenue Stabilization Requirement;Fund at the end of the month, or, in the case of annual transfers, the preceding calendar year, after making the payments required by (1) through (5) above, including any balances to be accrued and maintained, may be transferred to any fund or used for any purpose deemed appropriate by the Lessee

Revenue Fund. (a) The Revenue Fund itself is not pledged to secure any shall be held by the Trustee for the benefit of the Bonds or Bonds. All interest and other income from time to time received from the Subordinate Obligations. The Trustee will credit to deposit of moneys in the Revenue Fund all Revenues immediately upon receipt. (b) At least once each month, not later than shall be retained in such fund and applied pursuant to this Section 5.7. On or before the last Business Day preceding the fifteenth (15th) day of each month, the Trustee shall make transfers provide a written notice or electronic notice to the Authority and the Oversight Agent of the amount deposited in the Revenue Fund. Except as otherwise set forth below, on the Business Day preceding the fifteenth (15th) day of each month, commencing 2015, the Trustee shall withdraw from the Revenue Fund and transfer to the following funds the amounts indicated in the amounts and following tabulation, in the following order of priority set forth below: FIRST: To each priority, or so much thereof as remains after first making all prior transfers: (a) into the Debt Service Fund, ratably, as follows: (i) firstcommencing on the Business Day preceding 15, in each 2015, an amount equal to one-sixth of the interest due on the Bonds on the next Interest Account Payment Date, (ii) commencing on the Business Day preceding 15, 2015 to and including the Business Day preceding 15, 20 , an approximately amount equal amount each month during each Interest Period for to one-twelfth of the Related Series of Bonds such that (after taking into consideration the amountprincipal coming due, if any, then on deposit in such Interest Account), on the fifth Bonds on the next Principal Payment Date, and commencing on the Business Day immediately preceding the next Interest Payment Date for the Series of Bonds15, there will be on deposit in the Interest Account 20 and thereafter, an amount equal to the interest on the Outstanding Bonds one-sixth of the Series to become due on such Interest Payment Date; provided, however, if on the last Business Day of any month, the required deposit to the Interest Account for that month is not made with respect to any Series of Bonds, the requirement will be cumulative and will be added to the deposit required in each succeeding month until the deposit is made; and (ii) then, in each Principal Account an approximately equal amount each month during the Principal Period for the Related Series of Bonds such that (after taking into consideration the amountprincipal coming due, if any, then on deposit in such Principal Account), on the fifth Business Day immediately preceding Bonds on the next Principal Payment Date for the Series of BondsDate, there will be on deposit in the Principal Account and (iii) an amount equal to due on the principal and Accreted Value of next redemption date on the Outstanding Bonds of the Series maturing or required to be redeemed (other than pursuant to mandatory sinking fund redemption), provided that such payments may be net of accrued interest on such Principal Payment Date; providedinvestments of funds held under this Indenture; (b) into the Debt Service Reserve Fund, however; if on the last Business Day of any month, the required deposit to the Principal Account is not made with respect to any Series of Bonds, the requirement will be cumulative and will be added to the deposit required in each succeeding month until the deposit is made; SECOND: To the Revenue Stabilization Fund the amount, if any, required by Section 6.25 of the Loan Agreement; (c) into the Rebate Fund, the amount, if any, required to be deposited therein pursuant to Section 5.11 hereof; (d) commencing on the Business Day preceding 15, 2016, into the General Account of the Administration Fund, (i) the amount, if any, necessary to pay or provide for one- twelfth of the Trustee Fee, including expenses in connection with the purchase or redemption of any Bonds, all as provided and contemplated in the annual budget filed by the Borrower pursuant to the Loan Agreement and specified by the Borrower in writing to the Trustee, (ii) the amount, if any, necessary to pay or provide for one-twelfth of the annual Oversight Agent Fee, and (iii) the amount, if any, necessary to pay or provide for one-twelfth of the other Fees and Charges, if any, all as provided and contemplated in the annual budget filed by the Borrower pursuant to the Loan Agreement and specified by the Borrower in writing to the Trustee (any fees and expenses of the Fiduciaries above and beyond the amount contemplated in the annual budget filed by the Borrower pursuant to the Loan Agreement shall be paid from the Surplus Fund); (e) commencing on the Business Day preceding 15, 2016, into the General Account of the Administration Fund, the amount, if any, necessary to pay or provide for one- twelfth of the Authority Annual Fee (not including amounts, if any, due to the Authority for certain audit costs as set forth in the Regulatory Agreement); (f) into the Borrower Administration Fee Account of the Administration Fund an amount equal to the Borrower Administration Fee as such amount is set forth in writing from the Borrower to the Trustee, which Borrower Administration Fee is authorized hereunder, plus any amounts for previous periods not paid to the Borrower. Any such amounts so deposited to be paid to the Borrower on the last day of each month; (g) only on the 45th day following the end of a Bond Year, to the extent of available budgeted Net Operating Revenues from such prior Bond Year, into the Unrestricted Account of the Repair and Replacement Fund, the amount, if any, necessary to bring the aggregate amount on deposit in the Repair and Replacement Fund to at least $150,000; and (h) only on the 60th day following the end of a Bond Year, after making all of the foregoing transfers, into the Surplus Fund, the amount, if any, remaining in the Revenue Fund from the preceding Bond Year. Notwithstanding the foregoing, so long as the Borrower has monthly Net Operating Revenues that are at least equal to said month’s portion of items (a) through (e) of this Section 5.7, then the balance Borrower may retain from Net Operating Revenues for such month the Borrower Administration Fee for such month, in such accordance with the annual budget filed with the Trustee. Notwithstanding the foregoing paragraphs (d) and (e) of this Section 5.7, the Borrower may at any time elect to deposit additional amounts, including, without limitation, transfers from the Surplus Fund, into the General Account of the Administration Fund. No additional deposits to the General Account of the Administration Fund shall equal the Revenue Stabilization Requirement;be required under paragraphs (d) and

Revenue Fund. (ai) The There is hereby created a DC PILOT Revenue Note, Series 2014 Revenue Fund itself is not pledged (the “Revenue Fund”) to secure any of be established and maintained by the Bonds or the Subordinate ObligationsPaying Agent. The Trustee will credit District shall cause (A) the Collection Agent to deliver to the Paying Agent for deposit in the Revenue Fund all Revenues immediately upon receiptPILOT Payments received by the Collection Agent and (B) the Foundry Lofts Paying Agent to deliver to the Paying Agent for deposit in the Revenue Fund all PILOT Payments received by the Foundry Lofts Paying Agent net of the Foundry Lofts Debt Payments. (bii) At least once each monthPILOT Payments on deposit in the Revenue Fund shall be used to (A) meet the District’s Payment Obligations as they become due, not later than including the last payment of interest on the first Business Day of each month, commencing February 2, 2015, and the Trustee shall make transfers Facility Fee on the first Business Day of each calendar quarter, commencing April 1, 2015, and to pay regularly scheduled interest payments and fees on any Parity Debt as they become due and payable, without further requisition from the Revenue Fund District and (B) to make the payments called for in paragraphs (iii) and (iv) below. (iii) On each March 1 and September 1, beginning March 1, 2015, the Paying Agent shall apply amounts and in the order of priority set forth below: FIRST: To each Debt Service Fund, ratably, as follows: (i) first, in each Interest Account an approximately equal amount each month during each Interest Period for the Related Series of Bonds such that (after taking into consideration the amount, if any, then on deposit in such Interest Account), on the fifth Business Day immediately preceding the next Interest Payment Date for the Series of Bonds, there will be on deposit in the Interest Account an amount equal Revenue Fund (A) first to the interest replenish any prior unreimbursed draws on the Outstanding Bonds Debt Service Reserve Fund and any debt service reserve funds on any Parity Debt, and in the event such amounts are insufficient to fully replenish the Debt Service Reserve Fund or any debt service reserve funds on any Parity Debt, such funds shall be applied pro-rata, (B) second, allocated on a pro rata basis (calculated based on outstanding principal amounts of the Series 2014 Note and any Parity Debt), (i) to become due on such Interest Payment Date; provided, however, if pay the outstanding principal on the last Business Day of any month, the required deposit to the Interest Account for that month is not made with respect to any Series of Bonds, the requirement will be cumulative and will be added to the deposit required in each succeeding month until the deposit is made; 2014 Note and (ii) thento fund, at the District’s discretion, any debt service obligations on any Parity Debt in each Principal Account amounts directed by the District in writing to the Paying Agent and signed by an approximately equal Authorized Delegate, with the subsequent balance to be the Minimum Revenue Fund Balance. (iv) On the Mandatory Repurchase, any amount each month during the Principal Period for the Related Series of Bonds such that (after taking into consideration the amount, if any, then on deposit in such Principal Account), on the fifth Business Day immediately preceding the next Principal Payment Date for the Series of Bonds, there will be on deposit in the Principal Account an amount equal to the Revenue Fund as of such Mandatory Repurchase Date, shall be allocated on a pro rata basis (calculated based on outstanding principal and Accreted Value of the Outstanding Bonds amounts of the Series maturing or required 2014 Note and any Parity Debt), (i) to be redeemed on such Principal Payment Date; provided, however; if pay the outstanding principal on the last Business Day of Series 2014 Note and (ii) to fund, at the District’s discretion, any month, the required deposit to the Principal Account is not made with respect to debt service obligations on any Series of Bonds, the requirement will be cumulative and will be added to the deposit required in each succeeding month until the deposit is made; SECOND: To the Revenue Stabilization Fund the amount, if any, required so that the balance in such Fund shall equal the Revenue Stabilization Requirement;Parity Debt.

Revenue Fund. (a) The Revenue Fund itself is not pledged to secure any shall be held by the Trustee for the benefit of the Series A Bonds, except to the extent of the application of Subordinate Residual Revenues for the benefit of the Series B Bonds or pursuant to paragraph (e) below. All interest and other income from time to time received from the Subordinate Obligations. The Trustee will credit to deposit of moneys in the Revenue Fund all Revenues immediately upon receipt. (b) At least once each month, not later than shall be retained in such fund and applied pursuant to this Section 5.7. On or before the last Business Day preceding the fifteenth (15th) day of each month, the Trustee shall make transfers provide a written notice or electronic notice to the Authority and the Oversight Agent of the amount deposited in the Revenue Fund. Except as otherwise set forth below, on the Business Day preceding the fifteenth (15th) day of each month, commencing 2014, the Trustee shall withdraw from the Revenue Fund and transfer to the following funds the amounts indicated in the amounts and following tabulation, in the following order of priority set forth below: FIRST: To each priority, or so much thereof as remains after first making all prior transfers: (a) into the Series A Bonds Debt Service Fund, ratably, as follows: (i) firstcommencing on the Business Day preceding 15, in each 2014, an amount equal to one- of the interest due on the Series A Bonds on 15, 2014, and thereafter, an amount equal to one-sixth of the interest due on the Series A Bonds on the next Interest Account Payment Date, (ii) commencing on the Business Day preceding 15, 2014, an approximately amount equal amount each month during each Interest Period for to one-sixth of the Related Series of Bonds such that (after taking into consideration the amountprincipal coming due, if any, then on deposit in such Interest Account), on the fifth Series A Bonds on the next Principal Payment Date, (iii) commencing on the Business Day immediately preceding the next Interest Payment Date for the Series of Bonds15, there will be on deposit in the Interest Account 2014, an amount equal to one-sixth of the interest mandatory sinking fund payment due on the Outstanding Series A Bonds of the Series to become due on such Interest Payment Date; provided, however, if on the last Business Day of any month, the required deposit to the Interest Account for that month is not made with respect to any Series of Bonds, the requirement will be cumulative and will be added to the deposit required in each succeeding month until the deposit is made; and (ii) then, in each Principal Account an approximately equal amount each month during the Principal Period for the Related Series of Bonds such that (after taking into consideration the amount, if any, then on deposit in such Principal Account), on the fifth Business Day immediately preceding the next Principal Payment Date for and (iv) an amount due on the next redemption date on the Series of Bonds, there will be on deposit in the Principal Account an amount equal to the principal and Accreted Value of the Outstanding A Bonds of the Series maturing or required to be redeemed (other than pursuant to mandatory sinking fund redemption), provided that such payments may be net of accrued interest on such Principal Payment Date; providedinvestments of funds held under this Indenture; (b) into the Series A Bonds Debt Service Reserve Fund, however; if on the last Business Day of any month, the required deposit to the Principal Account is not made with respect to any Series of Bonds, the requirement will be cumulative and will be added to the deposit required in each succeeding month until the deposit is made; SECOND: To the Revenue Stabilization Fund the amount, if any, required by Section 6.25 of the Loan Agreement; (c) into the Rebate Fund, the amount, if any, required to be deposited therein pursuant to Section 5.13 hereof; (d) commencing on the Business Day preceding 15, 2015, into the General Account of the Administration Fund, (i) the amount, if any, necessary to pay or provide for one-twelfth of the Trustee Fee, including expenses in connection with the purchase or redemption of any Bonds, all as provided and contemplated in the annual budget filed by the Borrower pursuant to the Loan Agreement and specified by the Borrower in writing to the Trustee, (ii) the amount, if any, necessary to pay or provide for one-twelfth of the annual Oversight Agent Fee, and (iii) the amount, if any, necessary to pay or provide for one-twelfth of the other Fees and Charges, if any, all as provided and contemplated in the annual budget filed by the Borrower pursuant to the Loan Agreement and specified by the Borrower in writing to the Trustee (any fees and expenses of the Fiduciaries above and beyond the amount contemplated in the annual budget filed by the Borrower pursuant to the Loan Agreement shall be paid from the Surplus Fund); (e) into the Series B Bonds Debt Service Fund, (i) commencing on the Business Day preceding 15, 2014, an amount equal to one- of the interest due on the Series B Bonds on 15, 2014, and thereafter, an amount equal to one-sixth of the interest due on the Series B Bonds on the next Interest Payment Date, (ii) commencing on the Business Day preceding 15, 2014, an amount equal to one-sixth of the principal coming due, if any, on the Series B Bonds on the next Principal Payment Date, (iii) commencing on the Business Day preceding 15, 2014, an amount equal to one-sixth of the targeted mandatory sinking fund payment due on the Series B Bonds on the next Principal Payment Date and (iv) an amount due on the next redemption date on the Series B Bonds to be redeemed (other than pursuant to targeted mandatory sinking fund redemption), provided that such payments may be net of accrued interest on investments of funds held under this Indenture, and; (f) into the Series B Bonds Debt Service Reserve Fund, the amount, if any, required by Section 6.26 of the Loan Agreement; (g) commencing on the Business Day preceding 15, 2015, into the General Account of the Administration Fund, the amount, if any, necessary to pay or provide for one-twelfth of the Authority Annual Fee (not including amounts, if any, due to the Authority for certain audit costs as set forth in the Regulatory Agreement); (h) into the Borrower Administration Fee Account of the Administration Fund an amount equal to the Borrower Administration Fee as such amount is set forth in writing from the Borrower to the Trustee, which Borrower Administration Fee is authorized hereunder, plus any amounts for previous periods not paid to the Borrower. Any such amounts so deposited to be paid to COACH of San Diego, Inc., the sole member of the Borrower, on the last day of each month; (i) only on the 45th day following the end of a Bond Year, to the extent of available budgeted Net Operating Revenues from such prior Bond Year, into the Unrestricted Account of the Repair and Replacement Fund, the amount, if any, necessary to bring the aggregate amount on deposit in the Repair and Replacement Fund (including the Restricted Account therein) to at least $ ; and (j) only on the 60th day following the end of a Bond Year, after making all of the foregoing transfers, into the Surplus Fund, the amount, if any, remaining in the Revenue Fund from the preceding Bond Year. Notwithstanding the foregoing, so long as the Borrower has monthly Net Operating Revenues that are at least equal to said month’s portion of items (a) through (g) of this Section 5.7, then the balance Borrower may retain from Net Operating Revenues for such month the Borrower Administration Fee for such month, in such accordance with the annual budget filed with the Trustee, to be paid by the Borrower to COACH of San Diego, Inc., the sole member of the Borrower. Notwithstanding the foregoing paragraphs (d) and (g) of this Section 5.7, the Borrower may at any time elect to deposit additional amounts, including, without limitation, transfers from the Surplus Fund, into the General Account of the Administration Fund. No additional deposits to the General Account of the Administration Fund shall equal be required under paragraphs (d) and (f) if, on the Revenue Stabilization Requirement;Business Day preceding the fifteenth (15th) day of any month, sufficient funds have previously been deposited into such account.

Revenue Fund. (a) The Revenue Fund itself is not pledged to secure any of the Bonds or the Subordinate Obligations. The Trustee will credit to the Revenue Fund all Revenues immediately upon receipt. (b) At least once each month, not later than the last Business Day of each month, the Trustee shall make transfers from the Revenue Fund in the amounts and in the order of priority set forth below: FIRST: To each Debt Service Fund, ratably, Fund ratably as follows: (i) first, in each Interest Account an approximately equal amount each month during each Interest Period for the Related Series of Bonds such that (after taking into consideration the amount, if any, then on deposit in such Interest Account), on the fifth Business Day immediately preceding the next Interest Payment Date for the Series of Bonds, there will be on deposit in the Interest Account an amount equal to the interest on the Outstanding Bonds of the Series to become due on such Interest Payment Date; provided, however, if on the last Business Day of any month, the required deposit to the Interest Account for that month is not made with respect to any Series of Bonds, the requirement will be cumulative and will be added to the deposit required in each succeeding month until the deposit is made; and (ii) then, in each Principal Account an approximately equal amount each month during the Principal Period for the Related Series of Bonds such that (after taking into consideration the amount, if any, then on deposit in such Principal Account), on the fifth Business Day immediately preceding the next Principal Payment Date for the Series of Bonds, there will be on deposit in the Principal Account an amount equal to the principal and Accreted Value of the Outstanding Bonds of the Series maturing or required to be redeemed on such Principal Payment Date; provided, however; if on the last Business Day of any month, the required deposit to the Principal Account is not made with respect to any Series of Bonds, the requirement will be cumulative and will be added to the deposit required in each succeeding month until the deposit is made; SECOND: To the Revenue Stabilization Fund the amount, if any, required so that the balance in such Fund shall equal the Revenue Stabilization Requirement;