Common use of Credits on Notes Clause in Contracts

Credits on Notes. Notwithstanding any provision contained in this Loan Agreement or in the Indenture to the contrary, in addition to any credits on the Notes resulting from the payment or prepayment thereof from other sources: (a) any moneys deposited by the Trustee in the Bond Fund for payment on the Series 2020 Bonds (including without limitation any Pledged SEP TIF Revenues) shall be credited against the obligation of the Borrower to pay the amounts due on the Notes as they become due; and (b) the principal amount of Bonds of any series and maturity acquired by the Borrower and delivered to the Trustee, or acquired by the Trustee and cancelled, shall be credited against the obligation of the Borrower to pay the principal of the Note evidencing the loan made by the Issuer with the proceeds of the sale of the Series 2020 Bonds of such series maturing on the maturity date of the Bonds so acquired and delivered or cancelled. Series 2020 Bonds held by the Borrower for its account shall not be considered a credit hereunder.

Credits on Notes. Notwithstanding any provision contained in this Loan Agreement or in the Indenture to the contrary, in addition to any credits on the Notes resulting from the payment or prepayment thereof from other sources: (a) any moneys deposited by the Trustee in the Bond Fund for payment on the Series 2020 Bonds (including without limitation any Pledged SEP TIF Revenues) shall be credited against the obligation of the Borrower to pay the amounts due on the Notes as they become due; and (b) the principal amount of Bonds of any series and maturity acquired by the Borrower and delivered to the Trustee, or acquired by the Trustee and cancelled, shall be credited against the obligation of the Borrower to pay the principal of the Note evidencing the loan made by the Issuer with the proceeds of the sale of the Series 2020 Bonds of such series maturing on the maturity date of the Bonds so acquired and delivered or cancelled. Series 2020 Bonds held by the Borrower for its account shall not be considered a credit hereunder.

Credits on Notes. Notwithstanding any provision contained in this Loan Agreement or in the Indenture to the contrary, in addition to any credits on the Notes resulting from the payment or prepayment thereof from other sources: (a) any moneys deposited by the Trustee in the Bond Fund for payment on the Series 2020 20 B Bonds (including without limitation any Pledged SEP TIF RevenuesTax Increment [and Taxpayer Payments) shall be credited against the obligation of the Borrower to pay the amounts due on the Notes as they become due; and (b) the principal amount of Bonds of any series and maturity acquired by the Borrower and delivered to the Trustee, or acquired by the Trustee and cancelled, shall be credited against the obligation of the Borrower to pay the principal of the Note evidencing the loan made by the Issuer City with the proceeds of the sale of the Series 2020 20 B Bonds of such series maturing on the maturity date of the Bonds so acquired and delivered or cancelled. Series 2020 20 B Bonds held by the Borrower for its account shall not be considered a credit hereunder.