Common use of Application Generally Clause in Contracts

Application Generally. All amounts in the Principal Fund shall be used and withdrawn by the Trustee solely to redeem the Bonds pursuant to Section 4.01F, or pay the Bonds at maturity, as provided herein, or to reimburse the Credit Facility Providers (if any) with respect to drawings under the Credit Facility for such purposes. So long as a Credit Facility for the Bonds of any subseries is in effect and has been drawn upon to provide sufficient funds to pay a principal payment due on such Bonds (if Eligible Bonds or Liquidity Facility Bonds not owned by or pledged to the Credit Facility Provider obligated on such Credit Facility) when due as required herein, the Trustee shall (1) apply the amounts so drawn (rather than money in the Principal Fund) to pay the principal or redemption price of such Bonds and (2) use moneys in the Principal Fund deposited by the Borrower to reimburse such Credit Facility Provider for such drawing in such manner as to provide for receipt by such Credit Facility Provider on the same Business Day as the draw is funded.