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Section 3.03 Source of Payment of Bonds. To the extent provided in and except as otherwise
permitted by this Indenture, (a) the Bonds shall be special, limited obligations of the Issuer, and the Bond
Debt Service Charges thereon shall be payable equally and ratably solely from the Issuer Revenues,
including but not limited to moneys and investments in the Special Funds; (b) the payment of Bond Debt
Service Charges on the Bonds shall be secured by the assignment of Issuer Revenues hereunder and by this
Indenture; and (c) payments due on the Bonds also shall be secured by the Promissory Note.
Notwithstanding anything to the contrary in the Bond Resolution, the Bonds, or this Indenture, the Bonds
do not and shall not represent or constitute a debt or pledge of the full faith and credit or the taxing power
of the Issuer, the Commonwealth, or any political subdivision, municipality or other local agency thereof.
Section 3.04 Payment and Ownership of Bonds. Bond Debt Service Charges shall be payable
in lawful money of the United States of America without deduction for the services of the Trustee or the
Paying Agent. Subject to the provisions of Section 3.09 hereof, (a) the principal of any Bond shall be
payable when due to a Holder upon presentation and surrender of such Bond at the designated corporate
trust office of the Trustee or at the office, designated by the Trustee, of the Paying Agent; and (b) interest
on any Bond shall be paid on the applicable Interest Payment Date by check or draft which the Trustee shall
cause to be mailed on that date to the Person in whose name the Bond is registered on the Register at the
close of business on the Regular Record Date applicable to that Interest Payment Date, at such Holder鈥檚
address appearing therein. Notwithstanding anything to the contrary herein or in any of the Borrower
Documents, the Trustee is authorized to use funds on deposit in the Special Funds, as and when provided,
to pay principal and interest on the Bonds when due. Notwithstanding the foregoing, the Bonds issued
under this Indenture are subject to the procedures of the Depository.
If and to the extent, however, that the Issuer shall fail to make payment or provision for payment
of interest on any Bond on any Interest Payment Date, that interest shall cease to be payable to the Person
who was the Holder of that Bond as of the applicable Regular Record Date. In that event, except as provided
below in this Section, when money becomes available for payment of the interest, (1) the Trustee shall,
pursuant to Section 7.06(d) hereof, establish a Special Record Date for the payment of that interest which
shall be not more than 15 nor fewer than 10 days prior to the date of the proposed payment, and (2) the
Trustee shall cause notice of the proposed payment and of the Special Record Date to be mailed by first-
class mail, postage prepaid, to each Holder at its address as it appears on the Register not fewer than 10
days prior to the Special Record Date and, thereafter, the interest shall be payable to the Persons who are
the Holders of the Bonds at the close of business on the Special Record Date.
Subject to the foregoing, each Bond delivered under this Indenture upon transfer thereof, or in
exchange for or in replacement of any other Bond, shall carry the rights to interest accrued and unpaid, and
to accrue on that Bond, or which were carried by that Bond.
Except as provided in this Section and the first paragraph of Section 3.06 hereof, (i) the Holder of
any Bond shall be deemed and regarded as the absolute owner thereof for all purposes of this Indenture;
(ii) payment of or on account of the Bond Debt Service Charges on any Bond shall be made only to or upon
the order of that Holder or its duly authorized attorney in the manner permitted by this Indenture; and
(iii) none of the Issuer, the Trustee, the Registrar nor the Paying Agent shall, to the extent permitted by law,
be affected by notice to the contrary. All of those payments shall be valid and effective to satisfy and
discharge the liability upon that Bond, including without limitation, the interest thereon, to the extent of the
amount or amounts so paid.
Section 3.05 Registration, Transfer and Exchange of Bonds. The Trustee shall cause the
Register to be kept for the registration of Bonds and the registration of transfers of Bonds. The registration
of any Bond may be transferred only upon an assignment duly executed by the registered Holder or his or
her duly authorized representative in such form and with guaranty of signature as shall be satisfactory to
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