Application of Funds Upon Acceleration. All moneys in the accounts and funds provided in Sections 3.01, 3.02, 5.02, 5.03 and 5.04 upon the date of the declaration of acceleration by the Trustee as provided in Section 7.01 and all Revenues (other than Revenues on deposit in the Rebate Fund) thereafter received by the Authority hereunder shall be transmitted to the Trustee and shall be applied by the Trustee in the following order: First, to the payment of the reasonable fees, costs and expenses of the Trustee in providing for the declaration of such event of default and carrying out its duties under this Agreement, including reasonable compensation to their accountants and counsel together with interest on any amounts advanced as provided herein and thereafter to the payment of the reasonable costs and expenses of the Bondholders, if any, in carrying out the provisions of this Article, including reasonable compensation to their accountants and counsel; and Second, upon presentation of the several Bonds, and the stamping thereon of the amount of the payment if only partially paid or upon the surrender thereof if fully paid, to the payment of the whole amount then owing and unpaid upon the Bonds for interest and principal, and premium, with (to the extent permitted by law) interest on the overdue interest and principal and premium at the rate borne by such Bonds, and in case such money shall be insufficient to pay in full the whole amount so owing and unpaid upon the Bonds, then to the payment of such interest, principal and premium and (to the extent permitted by law) interest on overdue interest and principal and premium without preference or priority among such interest, principal and premium and interest on overdue interest and principal and premium ratably to the aggregate of such interest, principal and premium and interest on overdue interest and principal and premium.
Application of Funds Upon Acceleration. Upon the date of the declaration of acceleration as provided in Section 8.1, all Gross Revenues thereafter received shall be applied in the following order - First, to the payment of the fees, costs and expenses of the Trustee, if any, incurred in and about the performance of its powers and duties under this Agreement and then to the payment of the Authority of the fees, costs and expenses, if any, in carrying out the provisions of this article, including reasonable compensation to its accountants, advisors and legal counsel; Second, to the payment of the Operation and Maintenance Costs; and Third, to the payment of the entire principal amount of the unpaid Series 2010 Installment Payments and Parity Obligations and the accrued interest thereon, with interest on the overdue installments at the rate or rates of interest applicable to the Series 2010 Installment Payments and Parity Obligations if paid in accordance with their respective terms.
Application of Funds Upon Acceleration. Upon the date of the declaration of acceleration as provided in Section 8.1, all Revenues thereafter received by the Agency and all amounts on deposit in the Rate Stabilization Fund shall be applied in the following order: First, to the payment, without preference or priority, and in the event of any insufficiency ratably without any discrimination or preference, of the fees, costs and expenses, if any of the Authority and the Trustee in carrying out the provisions of this article, including reasonable compensation to their respective accountants and counsel; Second, to the payment of the Operation and Maintenance Costs; Third, to the payment of Senior Obligations in accordance with the terms thereof; Fourth, to the payment of the entire principal amount of the unpaid 2020 Installment Payments and the unpaid principal amount of all Bonds and Contracts and the accrued interest thereon, with interest on the overdue installments at the rate or rates of interest applicable to the 2020 Installment Payments and such Bonds and Contracts if paid in accordance with their respective terms; and thereof. Fifth, to the payment of Subordinate Obligations in accordance with the terms
Application of Funds Upon Acceleration. Subject to the provisions in the agreements relating to the Senior Obligations, all money in the Revenue Fund on the date of the declaration of acceleration by the Corporation as provided in Section 6.01 allocable to the Installment Payments made hereunder and all Net Revenues thereafter received by the District allocable to the Installment Payments made hereunder shall be applied as provided in Section 7.04 of the Trust Agreement.
Application of Funds Upon Acceleration. All of the Revenues and all sums in the funds and accounts held hereunder (other than the Rebate Fund) upon the date of the declaration of acceleration, as provided in Section 7.01 and all sums thereafter received by the Trustee hereunder shall be applied by the Trustee in the following order upon presentation of the several Bonds, and the stamping thereon of the payment if only partially paid, or upon the surrender thereof if fully paid: First, to the payment of the costs and expenses of the Trustee and of the Bondowners in declaring such event of default, and including reasonable compensation to its or their agents, attorneys and counsel; Second, to the payment of the whole amount then owing and unpaid upon the Bonds for principal and interest, with interest, to the extent permitted by law, on the overdue principal and installments of interest at the rate equal to the rate per annum on such Bonds (but such interest on overdue installments of interest shall be paid only to the extent funds are available therefor following payment of principal and interest and interest on overdue principal, as aforesaid), and in case such moneys shall be insufficient to pay in full the whole amount so owing and unpaid upon the Bonds, then to the payment of such principal and interest without preference or priority of principal over interest, or of interest over principal or of any installment of interest over any other installment of interest, ratably to the aggregate of such principal and interest.
Application of Funds Upon Acceleration. Upon the date of the declaration of acceleration as provided in Section 8.1, all System Revenues thereafter received shall be applied in the following order - First, to the payment of the fees, costs and expenses of the Trustee, if any, in carrying out the provisions of this article and the performance of its powers and duties under this Indenture, including reasonable compensation to its accountants and counsel; and then to the payment of the fees and expenses of the Authority, if any, in carrying out the provisions of this article, including reasonable compensation to its accountants and counsel; Second, to the payment of Operation and Maintenance Costs; Third, to the payment of the entire principal amount of the unpaid Installment Payments and the unpaid principal amount of all other Parity Debt and the accrued interest thereon, with interest on the overdue installments at the rate or rates of interest applicable to the Installment Payments and such other Parity Debt if paid in accordance with their respective terms; and Fourth, to the Bond Insurer, any amounts owed pursuant to Sections 5.2(b), 6.20 and 8.1 hereof.
Application of Funds Upon Acceleration. Upon the date of the declaration of acceleration as provided in Section 6.1, during Stage 1, all Net Revenues and RUWAP Funds, and during Stage 2, all RUWAP Funds and State Loan Proceeds, thereafter received by the District shall be applied in the following order: First, to the payment, without preference or priority, and in the event of any insufficiency of such Net Revenues, RUWAP Funds and State Loan Proceeds ratably without any discrimination or preference, of the fees, costs and expenses of the Lender if any, in carrying out the provisions of this article, including reasonable compensation to their respective accountants and counsel; and Second, to the payment of the entire unpaid aggregate Principal Components of the Loan and the unpaid principal amount of any other obligations secured by the Net Revenues, RUWAP Funds and the State Loan Proceeds and the accrued interest thereon, with interest on the overdue payments at the rate or rates of interest applicable to the Loan and such other obligations if paid in accordance with their respective terms.
Application of Funds Upon Acceleration. All of the Subordinate Housing Set-Aside Amounts and all sums in the Subordinate Housing Set-Aside Special Fund upon the date of the declaration of acceleration, as provided in Section 7.01 and all sums thereafter received by the Fiscal Agent hereunder (other than the proceeds of any draw or draws under a Credit Facility) shall be applied by the Fiscal Agent in the following order upon presentation of the several 2010 Bonds, and the stamping thereon of the payment if only partially paid, or upon the surrender thereof if fully paid:
Application of Funds Upon Acceleration. Upon the date of the declaration of acceleration as provided in Section 8.1, all Gross Revenues thereafter received by the District shall be applied in the following order -- First, to the payment of the fees, costs and expenses of the Purchaser, if any, in carrying out the provisions of this article, including reasonable compensation to its accountants and counsel and any outstanding fees and expenses of the Purchaser,; Second, to the payment of the Operation and Maintenance Costs; Third, to the payment of the entire principal amount of the unpaid Series 2022 Installment Payments and the unpaid principal amount of all Bonds and Contracts and the accrued interest thereon, with interest on the overdue installments at the rate or rates of interest applicable to the Series 2022 Installment Payments and such Bonds and Contracts if paid in accordance with their respective terms; and Fourth, to the payment of Subordinate Obligations in accordance with the terms thereof.
Application of Funds Upon Acceleration. Upon the date of the declaration of (or automatic, as applicable) acceleration as provided in Section 8.01, all Revenues thereafter received by the District shall be applied in the following order: First, to the payment, without preference or priority, and in the event of any insufficiency of such Revenues ratably without any discrimination or preference, of the fees, costs and expenses of the Authority, the Authority Lender, any agents and assignees of each of the forgoing as the case may be or the trustee with respect to any Bonds or Contracts, in carrying out the provisions of this article, including reasonable compensation to their respective accountants and counsel; Second, to the payment of the Operation and Maintenance Costs; and Third, to the payment of the entire principal amount of the unpaid WIFIA Installment Payments and the unpaid principal amount of all Bonds and Contracts and the accrued interest thereon, with interest on the overdue installments at the rate or rates of interest applicable to the WIFIA Installment Payments and such Bonds and Contracts if paid in accordance with their respective terms.
