Use of Moneys in Bond Fund. Except as otherwise provided in Sections 5.8 and 11.2 hereof, moneys in the Bond Fund shall be used solely for the payment of the principal of and premium, if any, and interest on the Bonds and for the redemption or purchase of Bonds.
Use of Moneys in Bond Fund. Except as otherwise provided in Sections 5.05, 5.06, 5.08, 9.01, 10.10 and 11.04 hereof, moneys in the Bond Fund shall be used solely for the payment of the principal of and interest and any premium on the Bonds as the same shall become due and payable on an Interest Payment Date or at maturity, upon redemption or acceleration or otherwise. Funds for such payments of the principal of and interest and any premium on the Bonds shall be derived from the following sources in the order of priority indicated:
(i) moneys paid into the Bond Fund pursuant to Section 5.02(i) hereof, which shall be applied to the payment of interest on the Bonds;
(ii) proceeds of the sale of refunding obligations and proceeds from the investment thereof, deposited into the Bond Fund which constitute Available Moneys;
(iii) moneys furnished by the Borrower to the Trustee pursuant to the Agreement which have been deposited into the Bond Fund and constitute Available Moneys (other than funds under a Credit Facility) and proceeds from the investment thereof;
(iv) moneys drawn by the Trustee under a Credit Facility for the payment of the principal of or interest or any premium on the Bonds and deposited into the Bond Fund;
(v) moneys furnished by the Borrower to the Trustee pursuant to the Agreement and any other moneys available therefor and proceeds from the investment thereof;
(vi) In addition to amounts required to be paid into the Bond Fund, the Trustee shall (i) in the case of Bonds to be purchased by the Tender Agent on behalf of the Borrower pursuant to Article IV hereof, draw moneys under a Credit Facility in accordance with the terms thereof to the extent necessary to make timely payments of the purchase price of the Bonds pursuant to such Article IV, but only to the extent moneys are not available from the sources set forth in clauses (i) and (ii) of Section 14.03(b) hereof, and furnish said moneys to the Tender Agent and (ii) in connection with the purchase of Bonds by the Trustee on behalf of or for the account of the Bank pursuant to Section 4.07, draw moneys under such Credit Facility in accordance with the terms hereof and of such Credit Facility in amounts sufficient to pay the purchase price of the Bonds so purchased to the extent sufficient funds are not otherwise timely furnished by the Bank to the Trustee; provided, however, that the principal of, premium, if any, and interest on Bonds held by the Borrower, the Tender Agent or the Trustee on behalf of the Borrower (or...
Use of Moneys in Bond Fund. Except as otherwise provided in this Agreement, moneys in the Bond Fund shall be used solely for the payment of the principal (whether at maturity or upon acceleration or redemption or otherwise) of, and premium, if any, and interest due or to become due on the Bonds. On each Interest Payment Date, the Trustee shall withdraw from the Bond Fund moneys deposited to the credit of the Bond Fund pursuant to Section 502 hereof, and remit by first class mail or by wire transfer, if applicable, as provided in Section 203 of this Agreement, to each Holder the amounts required for paying the interest on the Bonds as such interest becomes due and payable. On or before each Interest Payment Date on which the payment of principal, and premium, if any, becomes due and payable, the Trustee shall withdraw from the Bond Fund and set aside or deposit in trust sufficient moneys for paying the principal of and redemption premium, if any, on all Bonds as such principal and premium, if any, become due, whether at maturity, upon acceleration or redemption or otherwise. Any moneys received by the Trustee pursuant to the Pledge Agreement from insurance, casualty or condemnation proceeds or otherwise, will be applied as set forth in the Pledge Agreement.
Use of Moneys in Bond Fund. Except as otherwise provided in this Agreement, the Trustee shall only use Eligible Moneys in the Bond Fund for the payment of the principal (whether at maturity or upon acceleration or redemption or otherwise) of, and premium, if any, and interest due or to become due on the Bonds. ---On each Interest Payment Date, the Trustee shall withdraw Eligible Moneys deposited to the credit of the Bond Fund pursuant to Section 502 hereof, and remit to each Holder, as provided in Article 11 of this Agreement, the amounts required for paying the interest on the Bonds as such interest becomes due and payable. On or before each Interest Payment Date on which the payment of principal, and premium, if any, becomes due and payable, the Trustee shall withdraw from the Bond Fund and set aside or deposit in trust sufficient Eligible Moneys for paying the principal of and redemption premium, if any, on all Bonds as such, principal and premium, if any, become due, whether at maturity, upon acceleration or redemption or otherwise. ---Any provision in this Agreement to the contrary notwithstanding, no payment of the principal of and premium, if any, and interest on Bonds held by or on behalf of the Borrower shall be made by the Trustee. ---Any profit realized from the investment of moneys deposited to the credit of the Bond Fund may be withdrawn by the Borrower with the consent of the Letter of Credit Issuer.
Use of Moneys in Bond Fund. Except as provided in Sections 6.13 and 10.02 hereof, moneys in the Bond Fund shall be used solely for the payment of the principal of, and premium, if any, and interest on, the Bonds. The Trustee shall at all times maintain accurate records of deposits into the Bond Fund and accounts therein, and the sources and timing of such deposits, and shall apply moneys from such sources on any Bond Payment Date in the order of priority indicated:
(i) Moneys drawn under the Letter of Credit or any Confirming Letter of Credit;
(ii) Proceeds of the sale of refunding obligations and proceeds from the investment thereof;
(iii) Moneys constituting payments made by the Borrower pursuant to the Agreement and the Note, which moneys are Available Moneys; and
(iv) Any other moneys paid by the Borrower pursuant to the Agreement.
Use of Moneys in Bond Fund. Except as otherwise provided in Sections 4.06, 4.08, 5.01 and 9.04 hereof, moneys in the Bond Fund shall be used solely for the -19- Indenture of Trust payment of the principal of, and premium, if any, and interest on, the Bonds as the same shall become due and payable at maturity, upon redemption or otherwise.
Use of Moneys in Bond Fund. (A) Except as otherwise provided in this Trust Agreement, Eligible Moneys in the Bond Fund shall be used solely for the payment of the principal (whether at maturity or upon acceleration or redemption or otherwise) of and premium, if any, and interest on the Bonds. On each Interest Payment Date and on each Principal Payment Date, the Trustee shall withdraw from the Bond Fund sufficient Eligible Moneys and pay the amounts due and payable to the Bondholders pursuant to this Trust Agreement.
(B) Moneys deposited to the credit of the Bond Fund pursuant to clause (ii) of Section 502(A), and any interest accruing on and any profit realized from the investment thereof, shall not be withdrawn pursuant to this Section until all other Eligible Moneys to the credit of the Bond Fund shall have been withdrawn from the Bond Fund.
(C) Any provision herein to the contrary notwithstanding, no payment of the principal of and premium, if any, and interest on Bonds held by or on behalf of the Borrower or any Affiliate (other than Pledged Bonds) shall be made by the Trustee.
Use of Moneys in Bond Fund. Except as otherwise provided in this Trust Agreement, moneys in the Bond Fund shall be used solely for the payment of the principal (whether at maturity or upon acceleration or redemption or otherwise) of and premium, if any, and interest on the Bonds. On each Interest Payment Date and on each Principal Payment Date, the Trustee shall withdraw from the Bond Fund sufficient moneys and pay the amounts due and payable to the Bondholders pursuant to this Trust Agreement. ---------------------------------------------------------------
Use of Moneys in Bond Fund. The Bond Fund shall be in the name of the Issuer, and the Issuer hereby irrevocably authorizes and directs the Trustee to withdraw from the Bond Fund sufficient funds to pay the principal of, premium, if any, and interest on the Bonds at maturity and redemption or prepayment prior to maturity, and the Trustee’s and Paying Agent’s fees in connection therewith, and to remit the funds to the Paying Agent for the purpose of paying the principal and interest in accordance with the provisions hereof pertaining to payment, which authorization and direction the Trustee hereby accepts. If a surplus shall exist in the Bond Fund over and above the amount necessary (together with reasonably projected revenue receipts in the event no default has occurred) to ensure the prompt payment of the principal of, and premium if any, in connection with the Bonds as the same become due, such surplus shall be applied to investments as permitted under Article VII herein. Subject to the provisions of the Home Office Payment Agreement, the Trustee shall cause to be transferred from the Bond Fund an amount sufficient to pay the interest on the bonds as the same become due at least one (1) day prior to the interest payment date for the Bonds and see to the deposit with the Paying Agent. It shall be the duty of the Trustee to see to the withdrawal from the Bond Fund at least one (1) day before the maturity or redemption date of any Bond issued hereunder and then outstanding and see to the deposit with the Paying Agent, whether or not a different institution, of an amount equal to the amount due for such Bonds for the sole purpose of paying the same.
