Laserfiche WebLink
amount fully adequate to protect the Issuer from loss. <br />(U) Government Approval of Extensions and L•'inancing. <br />Anything herein to the contrary notwithstanding, while the <br />Government is the holder of any of the Bonds, the Issuer will <br />not borrow any money from .any source or enter into any contract <br />or agreement or incur any other liability in connection with <br />making extensions or improvements other than normal maintenance <br />of the System, or make .any extensions or enlargements of the <br />System, or permit others to do so, without obtaining the prior <br />written consent of the Government. <br />(V) Reimbursement of Advances and Interest Thereon. <br />While the Government shall. be the holder of any of the Bonds, <br />the Government shall have the right to make advances for the <br />payment of insurance premiums and/or other advances which, in <br />the opinion of the Government, may be required to protect the <br />Government's security interest. In the event of any such <br />advances, the Issuer covenants and agrees to repay the same, <br />together with interest thereon at the same rate per annum as <br />specified in the Bonds, upon demand made at any time after <br />any such expenditure by the Government. Any such amount due <br />the Government shall take priority over any other payments from <br />the Reserve Account. <br />-20- <br />