Bond Fund. The Company shall pay the Loan Payments required of it under this Agreement by remitting or causing to be remitted the same directly to the Trustee for deposit in the Bond Fund established under the Indenture and administered by the Trustee as provided in the Indenture.
Bond Fund. The Trustee shall establish and maintain, so long as any of the Bonds are outstanding, a separate fund to be known as the “Bond Fund.” Money in the Bond Fund shall be applied as provided in this Section 4.2. In addition, there shall be deposited in the Bond Fund, as and when received, (i) all payments received pursuant to the Notes, including the required deposits of Lease Rental Payments pursuant to Section 4.4 hereof; (ii) all payments specified in Section 3.2 of the Loan Agreement; (iii) any amount remaining in the Construction Fund to be transferred to the Bond Fund pursuant to the Indenture upon acceleration of the maturity of the Series 20 Bonds; (iv) all interest and other income derived from investments of Bond Fund moneys as provided herein; and (vi) all other moneys received by the Trustee under and pursuant to any of the provisions of the Loan Agreement which are required or which are accompanied by directions that such moneys are to be paid into the Bond Fund. The Issuer hereby covenants and agrees that so long as any of the Bonds issued hereunder are outstanding it will deposit, or cause to be paid to Trustee for deposit in the Bond Fund for its account, sufficient sums from revenues and receipts derived from the Notes and the Loan Agreement, including the Lease Rental Payments, promptly to meet and pay the principal of, premium, if any, and interest on the Bonds as the same become due and payable. Nothing herein should be construed as requiring Issuer to deposit or cause to be paid to Trustee for deposit in the Bond Fund, funds from any source other than receipts derived from the Notes, the Loan Agreement, and the Lease Rental Payments. The Borrower shall immediately upon receipt transfer the Lease Rental Payments to the Trustee as set forth in Section 4.4. The Trustee is hereby directed to deposit into the Bond Fund from each Lease Rental Payment, an amount equal to the lesser of the following: (a) all of such rental payment; or (b) an amount which equals the sum of the principal and interest on the Bonds due on, before or within twenty (20) days after the date such Lease Rental Payment becomes due. Any portion of a rental payment remaining after such deposit shall be deposited by the Trustee in the Operation Fund. Moneys in the Bond Fund shall be used by the Trustee to pay interest, premium, if any, and principal on the Bonds as they become due at maturity, redemption or upon acceleration. The Trustee shall transmit such funds to the Paying...
Bond Fund. There is hereby created and established with the Bondowner Representative a separate fund which shall be designated the “Bond Fund,” which fund shall be applied only as provided in this Section. The Bondowner Representative shall deposit in the Bond Fund from time to time, upon receipt thereof, all Revenues, including (i) income received from the investment of moneys on deposit in the Bond Fund, and (ii) any other Revenues, including insurance proceeds, condemnation awards and other Loan payments or prepayments received from or for the account of the Borrower. The Bondowner Representative shall provide notice to the Issuer, upon written request of the Issuer, of the amounts received by the Bondowner Representative which constitute Revenues or are otherwise deposited to the Bond Fund, and of any failure by the Borrower to make timely payments on the Notes. Moneys in the Bond Fund shall be used solely for the payment of the principal of and premium, if any, and interest on the Bonds as the same shall become due, whether at maturity or upon redemption or acceleration or otherwise. On each date on which principal of or interest on the Bonds is due and payable, the Bondowner Representative shall pay such amount from the Bond Fund (to the extent of the funds contained therein). So long as the Bondowner Representative and/or its affiliates are the Holders of all of the Bonds, no Revenues shall be deposited into the Bond Fund, and instead all such Revenues, including any payments or prepayments of principal, interest or premium, if any, on the Notes actually made by the Borrower to the Bondowner Representative shall be deemed to be like payments or prepayments of principal, interest or premiums (if any) on the Bonds (and no such payments or prepayments shall be required to be deposited into the Bond Fund).
Bond Fund. A special trust fund is hereby created and designated the “Bond Fund”, which shall contain (i) the Interest Account, (ii) the Principal Account, and (iii) the Redemption Account.
Bond Fund. There is hereby created and established with the Trustee a Bond Fund which shall be used as provided in this Section. There shall be deposited in the Bond Fund from time to time the following: (a) any amount in the Construction Fund directed to be paid into the Bond Fund in accordance with the provisions of Section 5.04 or 5.05 hereof; (b) any amount to be deposited in the Bond Fund pursuant to Section 6.04 hereof; (c) all payments specified in Section 4.01(a) of the Sublease; (d) any moneys drawn under the Letter of Credit which moneys shall be deposited in a separate account of the Bond Fund and shall not be commingled with any other moneys held by the Trustee; (e) amounts held by the Trustee pursuant to Section 3.10 hereof; and (f) all other moneys received by the Trustee pursuant to Section 6.02 hereof. Except as provided in Section 3.07, 3.10 and 6.08 hereof, moneys in the Bond Fund shall be used solely for the payment of principal of, premium, if any, and interest on the Bonds and for the redemption of the Bonds prior to maturity. Subject to the provisions of Section 6.09 hereof, funds for such payments of principal of and premium, if any, and interest on the Bonds shall be derived from the following sources in the following order of priority indicated: (i) amounts required to be transferred from the Construction Fund to the Bond Fund in accordance with clause (a) of the preceding paragraph which constitute Available Moneys; (ii) any amount deposited into the Bond Fund pursuant to Section 6.04 hereof which constitutes Available Moneys; (iii) any moneys drawn by the Trustee under the Letter of Credit; and (iv) any other moneys furnished to the Trustee and available for such purpose. The foregoing notwithstanding, amounts deposited into the Bond Fund in accordance with Section 5.04 hereof shall be applied only to the payment of the principal of, or the portion of the Purchase Price corresponding to the principal of, the Bonds, and amounts deposited into the Bond Fund pursuant to Section 6.04 hereof shall be applied only to the payment of the principal of the Bonds.
Bond Fund. The Issuer and the Borrower shall have no interest in the Bond Fund or the moneys therein, which shall always be maintained by the Trustee completely separate and segregated from all other moneys held hereunder and from any other moneys of the Issuer and the Borrower. The Trustee shall deposit into the Bond Fund the amounts required by Sections 7.2 and
Bond Fund. (a) The Trustee will pay from the Principal Account the principal (including sinking fund installments) of the Bonds when due. The Trustee will pay from the Interest Account the interest on the Bonds when due. The Trustee will use money in the Redemption Account to redeem Bonds pursuant to any optional redemption provision exercised by the Authority or special mandatory redemption provisions or, if directed by an Authorized Authority Representative, to purchase Bonds on the open market; provided, however, (i) no money will be used to purchase Bonds to the extent it is required to pay the redemption price of any Bonds for which notice of redemption has been given as provided in Section 4.6, and (ii) Bonds will not be purchased at a price in excess of the applicable optional redemption price plus accrued interest.
Bond Fund. (a) The Trustee shall establish and maintain, so long as any of the Bonds are outstanding, a separate fund to be known as the “City of Noblesville, Indiana Lofts on Tenth Project Bond Fund” (“Bond Fund”). Money in the Bond Fund shall be applied as provided in this Section 4.2.
Bond Fund. The management fee for this Fund, calculated in accordance with Paragraph 4 of the Investment Advisory Agreement, shall be at the annual rate of 0.65% of the first $50 million of average daily net assets of the Fund, and 0.60% of average daily net assets in excess of $50 million.
Bond Fund. There is hereby established with the Trustee a trust fund to be designated “Mxxxxxxx County Development Authority (First United Ethanol, LLC Project), Series 2006 Bond Fund,” which is pledged and shall be used to pay the principal of, and premium, if any, and interest on, the Bonds. Within the Bond Fund there shall be established a certain trust account to be designated the “Letter of Credit Account”. Moneys drawn under the Letter of Credit shall be deposited into the Letter of Credit Account. There is further hereby established with the Trustee a separate Reimbursement Account (“Reimbursement Account”) within the Bond Fund which Reimbursement Account shall be used by the Trustee to reimburse the Bank, as provided herein or in the Agreement and the Reimbursement Agreement. However, Borrower may reimburse the Bank directly so long as such reimbursement is in accordance with the Agreement and the Reimbursement Agreement.
