Application of Moneys in the Bond Fund Sample Clauses

The 'Application of Moneys in the Bond Fund' clause defines how funds held within a designated bond fund are to be used and distributed. Typically, this clause outlines the order of priority for payments, such as first covering interest and principal payments on bonds, then addressing any related fees or expenses, and finally allocating any remaining funds as specified in the agreement. By clearly specifying the permitted uses and payment hierarchy for the bond fund's assets, this clause ensures that bondholders' interests are protected and that the management of funds is transparent and orderly.
Application of Moneys in the Bond Fund. Except as provided in Section 604 and Section 908 hereof or in Section 4.6 of the Lease, moneys in the Bond Fund shall be expended solely for the payment of the principal of and the interest on the Bonds as the same matures and becomes due or upon the redemption thereof before maturity; provided, however, that any amounts received by the Trustee as Additional Rent under Section 5.2 of the Lease and deposited to the Bond Fund as provided in Section 601 above, shall be expended by the Trustee for such items of Additional Rent as they are received or due without further authorization from the City.
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Application of Moneys in the Bond Fund. Except as otherwise provided in Sections 6.04 and 14.01.3, moneys on deposit in the Bond Fund shall be used solely for the payment of the principal of and premium, if any, and interest on the Bonds as the same shall become due and payable either at maturity, upon redemption, by declaration or otherwise. Moneys for such payments of the principal of, premium, if any and interest on the Bonds shall be derived from the following sources in the following order of priority: (i) moneys drawn under the Letter of Credit and either deposited in the Letter of Credit Account or, if necessary during any Rate Period when the Bonds are held by a Securities Depository, paid to such Securities Depository; (ii) moneys paid into the Bond Fund pursuant to clause (1) of Section 6.02 in respect of accrued interest which constitute Available Moneys and proceeds from the investment thereof that constitute Available Moneys which moneys shall be used to pay interest on the Bonds; (iii) proceeds of the sale of refunding obligations which constitute Available Moneys and proceeds from the investment thereof that constitute Available Moneys; (iv) moneys deposited into the Bond Fund pursuant to clause (3) or clause (7) of Section 6.02 which constitute Available Moneys and proceeds from the investment thereof that constitute Available Moneys; (v) Company Note Payments which constitute Available Moneys and proceeds from the investment thereof that constitute Available Moneys; (vi) to the extent permitted by Section 8.05, moneys deposited into the Bond Fund pursuant to clause (5) of Section 6.02, and proceeds from the investment thereof that constitute Available Moneys; and (vii) Company Note Payments which do not constitute Available Moneys and proceeds from the investment thereof. The Trustee hereby agrees to draw moneys under the Letter of Credit to be applied to the payment of principal of, premium, if any, or interest on, the Bonds. If and to the extent moneys under clause (i) of the preceding paragraph are insufficient or unobtainable therefor, the Trustee shall apply any other moneys that are available therefor, in the preceding order of priority, including moneys described in clauses (vi) and (vii) of the preceding paragraph, to the payment of the principal of, premium, if any, and interest on, the Bonds. After the Letter of Credit has expired, any moneys held by the Trustee in the Bond Fund may be used to make any payment of the principal of, premium, if any, and interest on, the ...
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Application of Moneys in the Bond Fund. Except as provided in SECTION 606 and SECTION 908 hereof or in SECTION 4.6(a) of the Lease, moneys in the Bond Fund shall be expended solely for the payment of the principal of and the interest on the Bonds as the same mature and become due or upon the redemption thereof prior to maturity; provided, however, that any amounts received by the Trustee as Additional Rent under SECTION 5.2 of the Lease and deposited to the Bond Fund as provided in SECTION 602 above, shall be expended by the Trustee for such items of Additional Rent as they are received or due without further authorization from the City.
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Related to Application of Moneys in the Bond Fund

  • Application of Moneys ALL moneys received by the Trustee under these presents from any of the relevant Obligors (including any moneys which represent principal or interest in respect of Notes, Receipts or Coupons which have become void under Condition 9) shall, unless and to the extent attributable, in the opinion of the Trustee, to a particular Series of the Notes issued by the relevant Issuer, be apportioned pari passu and rateably between each Series of the Notes issued by the relevant Issuer, and all moneys received by the Trustee under these presents from any of the relevant Obligors to the extent attributable in the opinion of the Trustee to a particular Series of the Notes issued by the relevant Issuer or which are apportioned to such Series as aforesaid, be held by the Trustee upon trust to apply them (subject to Clause 12): FIRST in payment or satisfaction of all amounts then due and unpaid under Clauses 15 and/or 16(J) to the Trustee and/or any Appointee; SECONDLY in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the Notes of that Series; THIRDLY in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the Notes of each other Series issued by the relevant Issuer; and FOURTHLY in payment of the balance (if any) to the relevant Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the relevant Issuer shall be dealt with as between the relevant Issuer and any other person), PROVIDED ALWAYS that any payment required to be made by the Trustee pursuant to these presents shall only be made subject to any applicable laws and regulations. Without prejudice to this Clause 10, if the Trustee holds any moneys which represent principal or interest in respect of Notes, Receipts or Coupons issued by the relevant Issuer which have become void or in respect of which claims have been prescribed under Condition 9, the Trustee will hold such moneys on the above trusts.

  • Application of Moneys Collected Any moneys collected by the Trustee pursuant to this Article with respect to a particular series of Securities shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation of the Securities of that series, and notation thereon of the payment, if only partially paid, and upon surrender thereof if fully paid:

  • Collection of Moneys Except as otherwise expressly provided in this Agreement, the Trustee and the Paying Agent may demand payment or delivery of, and shall receive and collect, all money and other property payable to or receivable by the Trustee or the Paying Agent, as the case may be, pursuant to this Agreement. The Trustee or the Paying Agent, as the case may be, shall hold all such money and property received by it as part of the Trust and shall distribute it as provided in this Agreement. If the Trustee or the Paying Agent, as the case may be, shall not have timely received amounts to be remitted with respect to the Mortgage Loans from the Master Servicer, the Trustee or the Paying Agent, as the case may be, shall request the Master Servicer to make such distribution as promptly as practicable or legally permitted. If the Trustee or the Paying Agent, as the case may be, shall subsequently receive any such amount, it may withdraw such request.

  • Application of Monies In the event that, during the continuance of any Default, the Administrative Agent or any Bank, as the case may be, receives any monies in connection with the enforcement of rights under the Loan Documents, such monies shall be distributed for application as follows: (a) First, to the payment of, or (as the case may be) the reimbursement of the Administrative Agent and the Banks for or in respect of all costs, expenses, disbursements, and losses that shall have been incurred or sustained by the Administrative Agent and the Banks in connection with the collection of such monies by the Administrative Agent or any such Banks, for the exercise, protection, or enforcement by the Administrative Agent or any such Banks of all or any of the rights, remedies, powers, and privileges of the Administrative Agent or any such Banks under this Credit Agreement or any of the other Loan Documents, or in support of any provision of adequate indemnity to the Administrative Agent or any such Banks against any taxes or Liens that by Government Mandate shall have, or may have, priority over the rights of the Administrative Agent or any such Banks to such monies; (b) Second, to all other Obligations in such order or preference as the Majority Banks may determine; provided, however, that distributions among Obligations owing to the Banks and the Administrative Agent with respect to each type of Obligation such as interest, principal, fees, and expenses, shall be made among the Banks and the Administrative Agent pro rata according to the respective amounts thereof; and provided, further, that the Administrative Agent may in its discretion make proper allowance to take into account any Obligations not then due and payable; and (c) Third, the excess, if any, shall be returned to the applicable Borrower or to such other Persons as are entitled thereto.

  • Collection of Money Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture. The Indenture Trustee shall apply all such money received by it as provided in this Indenture. Except as otherwise expressly provided in this Indenture, if any default occurs in the making of any payment or performance under any agreement or instrument that is part of the Trust Estate, the Indenture Trustee may take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and any right to proceed thereafter as provided in Article V.