1987-139 - Laserfiche WebLink

Home Browse Search

40 Deposit of Revenues: Deposit of Certain Proceeds (Section 4.04) Except as described below. Revenues received by the Trustee in each month shall be deposited in the Revenue Fund and shall be transferred, immediately upon receipt thereof, as follows and in the following order of priority: FIRST: to the Interest Account, the amount, if any, necessary to make the amount then on deposit in the Interest Account and available for the payment of such interest equal to the interest payable on the Bonds (other than Credit Facility Bonds) on the next succeeding date on which interest is due on the Bondi (other than Credit Facility Bonds): and SECOND: to the Principal Account, the amount, if any, necessary to make the amount on deposit in the Principal• Account and available for the payment of such principal equal to the principal payable on the Bonds (other than Credit Facility Bonds) on the next succeeding date on which principal is due on the Bonds (other than Credit Facility Bonds) whether at maturity, by redemption or otherwise. After making the payments required above, any balance remaining on any date shall be paid to the Principal Account. Except as described below, voluntary payments made by the Company to the Trustee in accordance with the Loan Agreement will be deposited in the Principal Account by the Trustee on the date of receipt thereof. Amounts realized under the Credit Facility shall be applied as described below under "Realization of Funds under Credit Facility." The Registrar and Paying Agent shall deposit in the Purchase Account upon receipt the proceeds of the remarketing of Bonds by the Remarketing Agent (other than the proceeds of any remarketing of Credit Facility Bonds, which shall be paid directly to the Credit Facility Provider), amounts realized by the Registrar and Paying Agent under the Credit Facility for the payment of all or any portion of the purchase price of any Bonds on any Tender Date and if the Credit Facility Provider fails to honor any draft drawn under the Credit Facility in accordance with the terms thereof, all amounts paid by the Company to the Trustee for the payment of all or any portion of the purchase price of Bonds on the Tender Dates. Notwithstanding the foregoing provisions relating to the transfer of moneys from the Revenue Fund, as long as a Credit Facility is in effect, Revenues received by the Trustee that do not constitute Available Moneys shall be retained in the Revenue Fund until such amounts become Available Moneys, after which such amounts shall be transferred by the Trustee in accordance with the provisions of the Indenture. -26-