Common use of Security for Deposits Clause in Contracts

Security for Deposits. All moneys deposited with the Trustee under the provisions of this Agreement or the Loan Agreement shall be held in trust and applied only in accordance with the provisions of this Agreement and shall not, except as otherwise provided in Section 902 of this Agreement, be subject to lien or attachment by any creditor of the Authority or the Borrower. Such money shall be held in trust and applied in accordance with the provisions of this Agreement. ---All moneys deposited with the Trustee under this Agreement and the Loan Agreement in excess of the amount guaranteed by the Federal Deposit Insurance Corporation or any successor or similar federal agency shall be continuously secured for the benefit of the Authority, the Holders of the Bonds and the Letter of Credit Issuer, either: (a) by lodging with a bank or trust company approved by the Authority and by the Trustee, as custodian or, if then permitted by law, by setting aside under control of the trust department of the bank holding such deposit, as collateral security, Government Obligations or, with the approval of the Trustee, other marketable securities eligible as security for the deposit of trust funds under regulations of the Comptroller of the Currency of the United States of America or applicable Commonwealth law or regulations, having a market value (exclusive of accrued interest) not less than the amount of such deposit; or (b) if the furnishing of security as provided in clause (a) above is not permitted by applicable law, in such other manner as may then be required or permitted by applicable Commonwealth or federal laws and regulations regarding the security for, or granting a preference in the case of, the deposit of trust funds; provided, however, that it shall not be necessary for the Trustee to give security for any moneys which shall be represented by the investments purchased under the provisions of this Article as an investment of such moneys. ---Subject to the provisions of Section 602, all money deposited with the Trustee shall be credited to the particular fund or account to which such money belongs.

Security for Deposits. All moneys deposited with the Trustee under the provisions of this Agreement or the Loan Agreement shall be held in trust and applied only in accordance with the provisions of this Agreement and shall not, except as otherwise provided in Section 902 of this Agreement, be subject to lien or attachment by any creditor of the Authority or the Borrower. Such money shall be held in trust and applied in accordance with the provisions of this Agreement. ---All All moneys deposited with the Trustee under this Agreement and the Loan Agreement in excess of the amount guaranteed by the Federal Deposit Insurance Corporation or any successor or similar federal agency shall be continuously secured for the benefit of the Authority, Authority and the Holders of the Bonds and the Letter of Credit IssuerBonds, either: either (a) by lodging with a bank or trust company approved by the Authority and by the Trustee, as custodian or, if then permitted by law, by setting aside under control of the trust department of the bank holding such deposit, as collateral security, Government Obligations or, with the approval of the Trustee, other marketable securities eligible as security for the deposit of 59 66 trust funds under regulations of the Comptroller of the Currency of the United States of America or applicable Commonwealth law or regulations, having a market value (exclusive of accrued interest) not less than the amount of such deposit; , or (b) if the furnishing of security as provided in clause (a) above is not permitted by applicable law, in such other manner as may then be required or permitted by applicable Commonwealth or federal laws and regulations regarding the security for, or granting a preference in the case of, the deposit of trust funds; provided, however, that it shall not be necessary for the Trustee to give security for any moneys which shall be represented by the investments purchased under the provisions of this Article as an investment of such moneys. ---Subject Subject to the provisions of Section 602, all money deposited with the Trustee shall be credited to the particular fund or account to which such money belongs.

Security for Deposits. All moneys deposited with Any and all money received by the Trustee District under the provisions of this Agreement or the Loan Trust Agreement shall be held in trust and applied only in accordance deposited as received by the District with the provisions of this Agreement Trustee and shall not, except as otherwise provided in Section 902 of this Agreement, be trust funds under the terms hereof and shall not be subject to any lien or attachment by any creditor of the Authority or the BorrowerDistrict. Such money shall be held in trust and applied in accordance with the provisions of this Trust Agreement. ---All moneys All money deposited with the Trustee under this Agreement and the Loan Agreement hereunder in excess of the amount guaranteed by the Federal Deposit Insurance Corporation or any successor or similar other federal agency shall be continuously secured secured, for the benefit of the Authority, the Holders of the Bonds District and the Letter of Credit IssuerHolders, either: either (a) by lodging with a bank or trust company approved chosen by the Authority and by the Trustee, as Trustee or custodian or, if then permitted by law, by setting aside under control of the trust department of the bank holding such deposit, as collateral security, Government Obligations or, with the approval of the Trustee, or other marketable securities eligible as security for the deposit of trust funds under regulations of the Comptroller of the Currency of the United States of America or applicable Commonwealth State law or regulations, having a market value (exclusive of accrued interest) not less than the amount of such deposit; , or (b) if the furnishing of security as provided in clause (a) above is not permitted by applicable law, then in such other manner as may then be required or permitted by applicable Commonwealth State or federal laws and regulations regarding the security for, or granting a preference in the case of, the deposit of trust funds; provided, however, that it shall not be necessary for the Trustee or the Bond Registrar to give security for the deposit of any money with it for the payment of the principal of or the interest on any Bonds, or for the Trustee to give security for any moneys which money that shall be represented by the investments obligations purchased under the provisions of this Article as an investment of such moneysmoney. ---Subject Subject to the provisions of Section 602, all money deposited with the Trustee shall be credited to the particular fund or account to which such money belongs.

Security for Deposits. All moneys deposited with the Trustee under the provisions of this Agreement or the Loan Agreement shall be held in trust and applied only in accordance with the provisions of this Agreement and shall not, except as otherwise provided in Section 902 of this Agreement, be subject to lien or attachment by any creditor of the Authority or the Borrower. Such money shall be held in trust and applied in accordance with the provisions of this Agreement. ---All All moneys deposited with the Trustee under this Agreement and the Loan Agreement in excess of the amount guaranteed by the Federal Deposit Insurance Corporation or any successor or similar federal agency shall be continuously secured for the benefit of the Authority, Authority and the Holders of the Bonds and the Letter of Credit IssuerBonds, either: either (a) by lodging with a bank or trust company approved by the Authority and by the Trustee, as custodian or, if then permitted by law, by setting aside under control of the trust department of the bank holding such deposit, as collateral security, Government Obligations or, with the approval of the Trustee, other marketable securities eligible as security for the deposit of trust funds under regulations of the Comptroller of the Currency of the United States of America or applicable Commonwealth law or regulations, having a market value (exclusive of accrued interest) not less than the amount of such deposit; , or (b) if the furnishing of security as provided in clause (a) above is not permitted by applicable law, in such other 61 67 manner as may then be required or permitted by applicable Commonwealth or federal laws and regulations regarding the security for, or granting a preference in the case of, the deposit of trust funds; provided, however, that it shall not be necessary for the Trustee to give security for any moneys which shall be represented by the investments purchased under the provisions of this Article as an investment of such moneys. ---Subject Subject to the provisions of Section 602, all money deposited with the Trustee shall be credited to the particular fund or account to which such money belongs.