Common use of Custody of Separate Trust Fund Clause in Contracts

Custody of Separate Trust Fund. The Trustee is authorized and directed to hold all Net Proceeds from any insurance proceeds or condemnation award and disburse such proceeds in accordance with Article XII hereof. If the Company directs that any portion of such Net Proceeds be applied to redeem Bonds, the Trustee shall deposit such Net Proceeds in a separate subaccount of the Bond Fund, and the Company shall take and cause to be taken any action necessary to redeem on the earliest possible redemption date the amount of Bonds so specified.

Custody of Separate Trust Fund. The Trustee is authorized and directed to hold all Net Proceeds from any insurance proceeds or condemnation award and disburse such proceeds in accordance with Article XII hereofVII of the Loan Agreement. If the Company directs that any portion of such Net Proceeds be applied to redeem Bonds, the Trustee shall deposit such Net Proceeds in a separate subaccount of the Bond Fund, and the Company shall Authority covenants and agrees to take and cause to be taken any action necessary requested by the Authority to redeem on the earliest possible redemption date the amount of Bonds so specifiedspecified by the Company.

Custody of Separate Trust Fund. The Trustee is authorized and directed to hold all Net Proceeds from any insurance proceeds or condemnation award and disburse such proceeds in accordance with Article XII hereofVI of the Agreement. If the Company directs that any portion of such Net Proceeds be applied to redeem Bonds, the Trustee shall deposit such Net Proceeds in a separate subaccount sub-account of the Bond Fund, and the Company shall Authority covenants and agrees to take and cause to be taken any action necessary requested of the Authority to redeem on the earliest possible redemption date the amount of Bonds so specifiedspecified by the Company.

Custody of Separate Trust Fund. The Trustee is authorized and directed to hold all Net Proceeds from any insurance proceeds or condemnation award and disburse such proceeds in accordance with Article XII hereofVII of the Agreement. If the Company directs that any portion of such Net Proceeds be applied to redeem Bonds, the Trustee shall deposit such Net Proceeds in a separate subaccount sub-account of the Bond Fund, and the Company shall Authority covenants and agrees to take and cause to be taken any action necessary requested of the Authority to redeem on the earliest possible redemption date the amount of Bonds so specifiedspecified by the Company.

Custody of Separate Trust Fund. The Trustee is authorized and directed to hold all Net Proceeds from any insurance proceeds or condemnation award and disburse such proceeds in accordance with Article XII hereofVII of the Agreement. If the Company directs that any portion of such Net Proceeds be applied to redeem Bonds, the Trustee shall deposit such Net Proceeds in a separate subaccount sub-account of the Bond Fund, and the Company shall Board covenants and agrees to take and cause to be taken any action necessary requested of the Board to redeem on the earliest possible redemption date the amount of Bonds so specifiedspecified by the Company.