This page uses extracted PDF text. Text can misread numbers, dates or table columns. Check the PDF before quoting or interpreting it. Redacted areas remain redacted.
The Collateral Fund shall only be used and applied for, and irrevocably committed to, the payment
of (a) the Bond Debt Service Charges on the Bonds which are due and payable on any Interest Payment
Date, Maturity Date, Mandatory Tender Date with respect to Bonds that are not remarketed, or any date the
Bonds are called for redemption prior to maturity; (b) the Bond Debt Service Charges on the Bonds as and
when due at any other Bond Payment Date; and (c) the purchase price of the Bonds on the Mandatory
Tender Date, to the extent amounts on deposit in the Remarketing Proceeds Account and the Interest
Account of the Bond Fund are insufficient therefor. Any interest earnings on the Collateral Fund shall be
credited to the Interest Account of the Bond Fund.
Section 5.13 Costs of Issuance Fund. The Trustee shall use money on deposit to the credit of
the Costs of Issuance Fund to pay the costs of issuance of the Bonds on the Closing Date or as soon as
practicable thereafter in accordance with written instructions to be given to the Trustee by the Issuer based
on certifications of the Borrower, as set forth in a certificate of the Borrower delivered to the Trustee on the
Closing Date or as otherwise directed by the Borrower, upon delivery to the Trustee of appropriate invoices
for such expenses. Amounts on deposit in the Costs of Issuance Fund shall also be used by the Trustee to
pay the Remarketing Expenses, as directed in writing by the Borrower on the Remarketing Date.
Investment earnings on amounts on deposit in the Costs of Issuance Fund shall be retained in such fund.
Amounts remaining on deposit in the Costs of Issuance Fund 60 days after the Closing Date, other than
amounts deposited pursuant to Section 4.05(d)(5) hereof, shall be deposited to the Bond Fund. Amounts
deposited in the Costs of Issuance Fund pursuant to Section 4.05(d)(5) hereof and remaining on deposit
therein 30 days after the Remarketing Date shall be deposited to the Bond Fund. Upon such final
disbursement, the Trustee shall close the Costs of Issuance Fund.
Section 5.14 Allocation and Reallocation of Eligible Investments Deposited to the
Collateral Fund and the Project Fund. On the Closing Date and from time to time thereafter, the Trustee
shall allocate ownership of the Eligible Investments acquired pursuant to Section 5.05 hereof and deposited
for the benefit of the Project Fund and the Collateral Fund as follows: The Trustee shall allocate to the
Collateral Fund a percentage of such Eligible Investments equal to the amount of Available Money
presented to the Trustee for deposit to the Collateral Fund on the Closing Date divided by the aggregate
Outstanding principal amount of the Bonds and multiplied by one hundred (100) (the “Initial Collateral
Fund Percentage”) and the remainder (i.e., 100% minus the Initial Collateral Fund Percentage, referred to
as the “Initial Project Fund Percentage”) shall be allocated to the Project Fund. On each subsequent month
when additional Available Money is presented to the Trustee for deposit to the Collateral Fund (the
“Subsequent Allocation Date”), the dollar amount of such Available Money shall be added to all prior
Available Money so deposited, and the percentage of such Eligible Investments allocated to the Collateral
Fund shall be adjusted to that percentage equal to the aggregate Available Money so deposited through such
date divided by the aggregate Outstanding principal amount of the Bonds and multiplied by one hundred
(100) (the “Collateral Fund Percentage”) and the remainder (i.e., 100% minus the Collateral Fund
Percentage, referred to as the “Project Fund Percentage”) shall be allocated to the Project Fund. On each
Subsequent Allocation Date, the Trustee shall be deemed to have liquidated that portion of the Eligible
Investments allocated to the Project Fund and purchased equivalent Eligible Investments to be allocated to
the Collateral Fund.
ARTICLE VI THE TRUSTEE, REGISTRAR, PAYING AGENTS
AND AUTHENTICATING AGENTS
Section 6.01 Trustee’s Acceptance and Responsibilities. The Trustee accepts the trusts
imposed upon it by this Indenture, and agrees to observe and perform those trusts, but only upon and subject
to the terms and conditions set forth in this Article, to all of which the parties hereto and the Holders agree.
38Jump to an indexed page (744 of 744)