Common use of Establishment of Escrow Fund Clause in Contracts

Establishment of Escrow Fund. There is hereby created by the Authority and the City with, and to be held by, the Escrow Bank as security for the payment and redemption of the 2005 Bonds as hereinafter set forth, an irrevocable escrow to be maintained in trust by the Escrow Bank on behalf of the Authority and the City and for the benefit of the owners of the 2005 Bonds, said escrow to be designated the "Escrow Fund.” All moneys and federal securities (the "Escrow Securities") deposited in the Escrow Fund shall be held as a special fund for the payment of the principal of, applicable redemption premium and interest on the 2005 Installment Payments and the 2005 Bonds in accordance with the provisions of this Escrow Deposit and Trust Agreement. If at any time the Escrow Bank shall receive actual knowledge that the moneys and Escrow Securities, if any, in the Escrow Fund will not be sufficient to make any payment required by Section 5 hereof, the Escrow Bank shall notify the City of such fact and the City shall immediately cure such deficiency.

Establishment of Escrow Fund. There is hereby created by the Authority and the City with, and to be held by, the Escrow Bank as security for the payment and redemption of the 2005 2007 Bonds as hereinafter set forth, an irrevocable escrow to be maintained in trust by the Escrow Bank on behalf of the Authority and the City and for the benefit of the owners of the 2005 2007 Bonds, said escrow to be designated the "Escrow Fund.” All moneys and federal securities (the "Escrow Securities") deposited in the Escrow Fund shall be held as a special fund for the payment of the principal of, applicable redemption premium and interest on the 2005 2007 Installment Payments and the 2005 2007 Bonds in accordance with the provisions of this Escrow Deposit and Trust Agreement. If at any time the Escrow Bank shall receive actual knowledge that the moneys and Escrow Securities, if any, in the Escrow Fund will not be sufficient to make any payment required by Section 5 hereof, the Escrow Bank shall notify the City of such fact and the City shall immediately cure such deficiency.

Establishment of Escrow Fund. There is hereby created by the Authority and the City Successor Agency with, and to be held by, the Escrow Bank Bank, as security for the payment and redemption of the 2005 Bonds principal of and interest on the Prior Loans and, thereby, the 2007 Authority Bonds, as hereinafter set forth, an irrevocable escrow to be maintained in trust by the Escrow Bank on behalf of the Authority and the City Successor Agency and for the benefit of the owners of the 2005 2007 Authority Bonds, said escrow to be designated the "“Escrow Fund.” All moneys and federal securities (the "Escrow Securities") deposited in the Escrow Fund shall be held as constitute a special fund for the payment of the principal of, applicable redemption premium and interest on the 2005 Installment Payments and Prior Loans and, thereby, the 2005 2007 Authority Bonds in accordance with the provisions of this Escrow Deposit the Prior Loan Agreements and Trust Agreementthe 2007 Authority Indenture, respectively. If at any time the Escrow Bank shall receive actual knowledge that the moneys and Escrow Securities, if any, in the Escrow Fund will not be sufficient to make any payment required by Section 5 4 hereof, the Escrow Bank shall notify the City Successor Agency of such fact and the City Successor Agency shall immediately cure such deficiencydeficiency with any lawfully available funds of the Successor Agency.

Establishment of Escrow Fund. There is hereby created by the Authority and the City with, and to be held by, the Escrow Bank as security for the payment and redemption of the 2005 1998 Bonds as hereinafter set forth, an irrevocable escrow to be maintained in trust by the Escrow Bank on behalf of the Authority and the City and for the benefit of the owners of the 2005 1998 Bonds, said escrow to be designated the "Escrow Fund.” All moneys and federal securities (the "Escrow Securities") deposited in the Escrow Fund shall be held as a special fund for the payment of the principal of, applicable redemption premium and interest on the 2005 1998 Installment Payments and the 2005 1998 Bonds in accordance with the provisions of this Escrow Deposit and Trust Agreement. If at any time the Escrow Bank shall receive actual knowledge that the moneys and Escrow Securities, if any, in the Escrow Fund will not be sufficient to make any payment required by Section 5 hereof, the Escrow Bank shall notify the City of such fact and the City shall immediately cure such deficiency.

Establishment of Escrow Fund. There is hereby created by the Authority and the City Successor Agency with, and to be held by, the Escrow Bank Bank, as security for the payment and redemption of the 2005 Bonds principal of and interest on the PH 2003 Loan and, thereby, the 2003 Authority Bonds, as hereinafter set forth, an irrevocable escrow to be maintained in trust by the Escrow Bank on behalf of the Authority and the City Successor Agency and for the benefit of the owners of the 2005 2003 Authority Bonds, said escrow to be designated the "“Escrow Fund.” All moneys and federal securities (the "Escrow Securities") deposited in the Escrow Fund shall be held as constitute a special fund for the payment of the principal of, applicable redemption premium and interest on the 2005 Installment Payments and PH 2003 Loan and, thereby, the 2005 2003 Authority Bonds in accordance with the provisions of this Escrow Deposit the Pleasant Hill Loan Agreement and Trust Agreementthe 2003 Authority Indenture, respectively. If at any time the Escrow Bank shall receive actual knowledge that the moneys and Escrow Securities, if any, in the Escrow Fund will not be sufficient to make any payment required by Section 5 4 hereof, the Escrow Bank shall notify the City Successor Agency of such fact and the City Successor Agency shall immediately cure such deficiencydeficiency with any lawfully available funds of the Successor Agency.

Establishment of Escrow Fund. There is hereby created by the Authority and the City Successor Agency with, and to be held by, the Escrow Bank Bank, as security for the payment and redemption of the 2005 Bonds principal of and interest on the Prior Loans and, thereby, the 1999 Authority Bonds, as hereinafter set forth, an irrevocable escrow to be maintained in trust by the Escrow Bank on behalf of the Authority and the City Successor Agency and for the benefit of the owners of the 2005 1999 Authority Bonds, said escrow to be designated the "“Escrow Fund.” All moneys and federal securities (the "Escrow Securities") deposited in the Escrow Fund shall be held as constitute a special fund for the payment of the principal of, applicable redemption premium and interest on the 2005 Installment Payments and Prior Loans and, thereby, the 2005 1999 Authority Bonds in accordance with the provisions of this Escrow Deposit the Prior Loan Agreements and Trust Agreementthe 1999 Authority Indenture, respectively. If at any time the Escrow Bank shall receive actual knowledge that the moneys and Escrow Securities, if any, in the Escrow Fund will not be sufficient to make any payment required by Section 5 4 hereof, the Escrow Bank shall notify the City Successor Agency of such fact and the City Successor Agency shall immediately cure such deficiencydeficiency with any lawfully available funds of the Successor Agency.

Establishment of Escrow Fund. There is hereby created by the Authority and the City Successor Agency with, and to be held by, the Escrow Bank Bank, as security for the payment and redemption of the 2005 Bonds principal of and interest on the Prior Loans and, thereby, the 2007A-T Authority Bonds, as hereinafter set forth, an irrevocable escrow to be maintained in trust by the Escrow Bank on behalf of the Authority and the City Successor Agency and for the benefit of the owners of the 2005 2007A-T Authority Bonds, said escrow to be designated the "“Escrow Fund.” All moneys and federal securities (the "Escrow Securities") deposited in the Escrow Fund shall be held as constitute a special fund for the payment of the principal of, applicable redemption premium and interest on the 2005 Installment Payments and Prior Loans and, thereby, the 2005 2007A-T Authority Bonds in accordance with the provisions of this Escrow Deposit the Prior Loan Agreements and Trust Agreementthe 2007A-T Authority Indenture, respectively. If at any time the Escrow Bank shall receive actual knowledge that the moneys and Escrow Securities, if any, in the Escrow Fund will not be sufficient to make any payment required by Section 5 4 hereof, the Escrow Bank shall notify the City Successor Agency of such fact and the City Successor Agency shall immediately cure such deficiencydeficiency with any lawfully available funds of the Successor Agency.