Common use of Use of Money in the Project Fund Upon Default Clause in Contracts

Use of Money in the Project Fund Upon Default. If the principal of the Bonds shall have become due and payable pursuant to Article VIII hereof, any balance remaining in the Project Fund shall without further authorization (i) prior to the Obligation Termination Date, if any amounts are due and owing under the Reimbursement Agreement, be transferred immediately to the Bank, as long as the Bank is not in default of its obligations under the Letter of Credit, or (ii) after the Obligation Termination Date, be transferred into the Bond Fund.

Use of Money in the Project Fund Upon Default. If the principal of the Bonds shall have become due and payable pursuant to Article VIII hereofof this Indenture, any balance remaining in the Project Fund shall shall, without further authorization authorization, (i) prior to the Obligation Termination Date, if any amounts are due and owing under the Reimbursement Letter of Credit Agreement, be transferred immediately to the Bank, as long as the Bank is not in default of its obligations under the Letter of Credit, or (ii) after the Obligation Termination Date, be transferred into to the Bond Fund.

Use of Money in the Project Fund Upon Default. If the principal of the Bonds shall have become due and payable pursuant to to! Article VIII hereofof this Indenture, any balance remaining in the Project Fund shall shall, without further authorization authorization, (i) prior to the Obligation Termination Date, if any amounts are due and owing under the Reimbursement Letter of Credit Agreement, be transferred immediately to the Bank, as long as the Bank is not in default of its obligations under the Letter of Credit, or (ii) after the Obligation Termination Date, be transferred into to the Bond Fund.