Common use of Credit for Amounts on Deposit Clause in Contracts

Credit for Amounts on Deposit. If the principal components of the Lease Payments are prepaid in full under this Article IX, such that the Indenture is discharged by its terms as a result of such prepayment, at the written election of the City filed with the Trustee any or all amounts then on deposit in the Bond Fund (and the accounts therein) will be credited towards the amounts then required to be so prepaid.

Appears in 3 contracts

Sources: Lease Agreement, Lease Agreement, Lease Agreement