Common use of Possible Deficiencies Clause in Contracts

Possible Deficiencies. A. A. If at any time it shall appear to the Escrow Bank that the money and any interest on and principal of the Federal Securities in escrow allocable for such use under this Escrow Agreement will not be sufficient to make any required payment due on the Refunded Certificate Requirements as the same becomes due, the Escrow Bank shall notify in writing the City Manager as soon as reasonably practicable of such fact and the amount of such deficiency. B. Thereupon the City shall forthwith pay to the Escrow Bank for deposit in the Escrow Account such additional moneys as may be required.

Possible Deficiencies. A. A. If at any time it shall appear to the Escrow Bank that the money and any interest on and principal of the Federal Securities in escrow allocable for such use under this Escrow Agreement will not be sufficient to make any required payment due on the Refunded Certificate Requirements as the same becomes due, the Escrow Bank shall notify in writing the City Manager as soon as reasonably practicable of such fact and the amount of such deficiency. B. Thereupon the City shall forthwith pay to the Escrow Bank for deposit in the Escrow Account such additional moneys as may be required. C. The Escrow Bank shall in no manner be responsible for the City’s failure to make any such deposit.