Use of Annual Service Charge – Flow of Funds under the Indenture. Concurrently with the issuance of Bonds contemplated by this Financial Agreement and the Redevelopment Agreement, the Township and the Trustee shall enter into the Indenture in order to establish, among other things, the terms and conditions for the application of the Annual Service Charge, payment of debt service, and the relative rights and responsibilities of the Township to the Bondholders. Upon receipt of the Annual Service Charge, the Pledged Annual Service Charge shall be transmitted to the Trustee, who shall apply such Pledged Annual Service Charge as provided in the Indenture. The Indenture shall, in accordance with this Section, provide for the application of the amounts on deposit under the Indenture.
