Common use of Use of Moneys in Bond Fund Clause in Contracts

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 any affiliate thereof), shall not be paid from moneys drawn under such Credit Facility.

Use of Moneys in Bond Fund. (a) Moneys, if any, paid into the Bond Fund pursuant to clause (i) of Section 4.03(a) hereof shall be applied to the payment of interest on the Bonds. Except as otherwise provided in Sections 5.054.06, 5.06, 5.08, 9.01, 10.10 9.01 and 11.04 10.04 hereof, all other moneys in the Bond Fund constituting part of the Trust Estate shall be used solely for the payment of the principal of and premium, if any, 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 otherwise. (b) Moneys deposited pursuant to Section 5.02 hereof into the Capital Account or otherwise. Funds for the Investment Account maintained within the Bond Fund, and any income or other gain from the investment thereof, shall be applied by the Trustee (i) in whole or in part (A) to the purchase of Bonds in such payments amounts, at such prices, at such times and otherwise as directed by an Authorized Company Representative, or to the redemption, at the direction of the principal Company, of Bonds pursuant to subsection (a) or, if applicable, (b) or (e) of Section 3.01 hereof or (B) in any other manner directed by an Authorized Company Representative which, as indicated in an opinion of Bond Counsel furnished by the Company to the Authority and the Trustee, will not, in and of itself, impair the validity under the Act of the Bonds or the exclusion of the interest and any premium on the Bonds shall be derived from the following sources gross income for federal income tax purposes, or, in the order absence of priority indicated: any such purchase, redemption or direction on or prior to the forty-fifth (i45th) day prior to the first interest payment date specified in Section 3.01(d) hereof, (ii) to the payment of principal upon the redemption, from time to time, of Bonds pursuant to Section 3.01(d) hereof, any moneys paid which are not so applied to be retained in the accounts into which they were deposited and applied by the Trustee to the payment of principal of Bonds either at maturity or upon the redemption of all or any portion of the Bonds, whichever occurs first. Pending the application of moneys deposited into the Bond Fund pursuant to Section 5.02(i) 5.02 hereof, which such moneys may be invested in Investment Securities in the manner permitted by Section 6.01 hereof, provided that such investment shall be applied not produce a yield greater than the yield on the Bonds unless, as indicated in an opinion of Bond Counsel furnished by the Company to the payment Authority and the Trustee, investments producing a greater yield would not, in and of itself, impair the exclusion from gross income for federal tax purposes of the interest on the Bonds;. (iic) proceeds In the event that all of the sale of refunding obligations and proceeds from Bonds cease to be Outstanding, any moneys remaining in the investment thereof, Capital Account or the Investment Account shall be 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 any affiliate thereof), shall not be paid from moneys drawn under such Credit FacilityGeneral Account.

Use of Moneys in Bond Fund. (a) Moneys, if any, paid into the Bond Fund pursuant to clause (i) of Section 4.03(a) hereof shall be applied to the payment of interest on the Bonds. Except as otherwise provided in Sections 5.054.06, 5.06, 5.08, 9.01, 10.10 9.01 and 11.04 10.04 hereof, all other moneys in the Bond Fund constituting part of the Trust Estate shall be used solely for the payment of the principal of and premium, if any, 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 otherwise. (b) Moneys deposited pursuant to Section 5.02 hereof into the Capital Account or otherwise. Funds for the Investment Account maintained within the Bond Fund, and any income or other gain from the investment thereof, shall be applied by the Trustee (i) in whole or in part (A) to the purchase of Bonds in such payments amounts, at such prices, at such times and otherwise as directed by an Authorized Company Representative, or to the redemption, at the direction of the principal Company, of Bonds pursuant to subsection (b) or, if applicable, (a) of Section 3.01 hereof or (B) in any other manner directed by an Authorized Company Representative which, as indicated in an opinion of Bond Counsel furnished by the Company to the Pollution Control Corporation and the Trustee, will not, in and of itself, impair the validity under the Act of the Bonds or the exclusion of the interest and any premium on the Bonds shall be derived from the following sources gross income for federal income tax purposes, or, in the order absence of priority indicated: any such purchase, redemption or direction on or prior to the forty-fifth (i45th) day prior to the first interest payment date specified in Section 3.01(d) hereof, (ii) to the payment of principal upon the redemption, from time to time, of Bonds pursuant to Section 3.01(d) hereof, any moneys paid which are not so applied to be retained in the accounts into which they were deposited and applied by the Trustee to the payment of principal of Bonds either at maturity or upon the redemption of all or any portion of the Bonds, whichever occurs first. Pending the application of moneys deposited into the Bond Fund pursuant to Section 5.02(i) 5.02 hereof, which such moneys may be invested in Investment Securities in the manner permitted by Section 6.01 hereof, provided that such investment shall be applied not produce a yield greater than the yield on the Bonds unless, as indicated in an opinion of Bond Counsel furnished by the Company to the payment Pollution Control Corporation and the Trustee, investments producing a greater yield would not, in and of itself, impair the exclusion from gross income for federal tax purposes of the interest on the Bonds;. (iic) proceeds In the event that all of the sale of refunding obligations and proceeds from Bonds cease to be Outstanding, any moneys remaining in the investment thereof, Capital Account or the Investment Account shall be 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 any affiliate thereof), shall not be paid from moneys drawn under such Credit FacilityGeneral Account.

Use of Moneys in Bond Fund. (a) Except as otherwise provided in subsection (b) of this Section and in Sections 5.05, 5.06, 5.08, 9.01, 10.10 4.10 and 11.04 4.12 hereof, moneys in the Bond Fund shall be used solely for the payment of the principal of of, premium, if any, and interest and any premium on the Bonds as the same shall become due and payable on an Interest Payment Date or whether at maturity, upon redemption or acceleration or otherwise. Funds otherwise and for such payments the Purchase Price of the principal Bonds as the same shall become due; provided, however, that to the extent such principal, premium (to the extent permitted by the Letter of Credit), interest or Purchase Price is paid with proceeds of a drawing under the Letter of Credit and interest the Company does not reimburse the Bank directly, the Trustee shall promptly reimburse the Bank from funds on deposit in the Bond Fund (other than remarketing proceeds or proceeds from a drawing on the Letter of Credit) in accordance with written instructions given from time to time to the Trustee by the Bank. (b) Moneys deposited pursuant to Section 4.08 into the Bond Fund, and any premium income or other gain from the investment thereof, shall be applied by the Trustee in whole or in part at the direction of the Company (i) to pay the principal upon any optional redemption of Bonds pursuant to Section 3.01 or to reimburse the Bank for any draws under the Letter of Credit in connection with such redemption, or (ii) in any other manner for the payment of principal and/or interest on the Bonds shall be derived that, as clearly stated in an Opinion of Bond Counsel furnished by the Company to the Issuer, the Bank and the Trustee, will not impair the validity under the Act of the Bonds or the exclusion of the interest on the Bonds from gross income of the following sources in owners thereof for federal income tax purposes. Pending the order application of priority indicated: (i) moneys paid deposited into the Bond Fund pursuant to Section 5.02(i) hereof4.08, which such moneys shall be applied held in a separate segregated account and may be invested in Eligible Investments in the manner indicated in an Opinion of Bond Counsel furnished by the Company to the payment Issuer and the Trustee or in the absence of such an Opinion of Bond Counsel, such moneys shall be promptly invested at a yield not in excess of the yield on the Bonds or invested in Eligible Investments other than "specified private activity bonds" within the meaning of Section 57(a)(5) of the Code, the interest on the Bonds; (ii) proceeds which is excludable from gross income of the sale owners thereof under Section 103 of refunding obligations the Code. Any Bonds purchased or redeemed by the Trustee in accordance with this subsection shall be canceled, and proceeds from the investment thereof, deposited into Company shall receive a credit corresponding to such Bonds and to any deposit in the Bond Fund which constitute Available Moneys; (iii) moneys furnished as contemplated 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 Fundthis Section, 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 against its obligations to make timely payments of under 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 any affiliate thereof), shall not be paid from moneys drawn under such Credit FacilityAgreement.