Common use of Payments by the Trustee Clause in Contracts

Payments by the Trustee. At or before the close of business on the Delivery Date and upon receipt by the Trustee of the Purchase Price of the Tendered Bonds that are delivered to it, the Trustee shall pay the Purchase Price of the Tendered Bonds to the registered owners thereof as provided in the applicable form of Bonds. The Trustee shall apply in order, first, moneys paid to it by the Remarketing Agent or by new purchasers of the Tendered Bonds tendered as proceeds of the remarketing of such Bonds by the Remarketing Agent, second, moneys drawn on the Credit Facility for the purpose of purchasing Tendered Bonds (including amounts drawn on the Credit Facility to pay accrued interest on the Tendered Bonds), and third, moneys paid to it by the Borrower. If sufficient funds are not available for the purchase of all Bonds tendered on any Delivery Date, no purchase shall be consummated.

Payments by the Trustee. At or before the close of business on the ----------------------- Delivery Date and upon receipt by the Trustee of the Purchase Price of the Tendered Bonds that are delivered to it, the Trustee shall pay the Purchase Price of the Tendered Bonds to the registered owners thereof as provided in the applicable form of Bonds. The Trustee shall apply in order, first, moneys paid to it by the Remarketing Agent or by new purchasers of the Tendered Bonds tendered as proceeds of the remarketing of such Bonds by the Remarketing Agent, second, moneys drawn on the Credit Facility for the purpose of purchasing Tendered Bonds (including amounts drawn on the Credit Facility to pay accrued interest on the Tendered Bonds), and third, moneys paid to it by the Borrower. If sufficient funds are not available for the purchase of all Bonds tendered on any Delivery Date, no purchase shall be consummated.