Payment of Debt Service. At or before 12:00 noon, New York City time, on each Payment Date during the term of the Loan, Lender shall transfer to Lender’s own account from the Debt Service Payment Sub-Account an amount equal to the Required Debt Service Payment for the applicable Payment Date. Borrowers shall be deemed to have timely made the Required Debt Service Payment pursuant to Section 2.8 regardless of the time Lender makes such transfer as long as sufficient funds are on deposit in the Debt Service Payment Sub-Account at 12:00 noon, New York City time on the applicable Payment Date. At all times after such Payment Date Lender may, at its option, transfer amounts in the Debt Service Payment Sub-Account to Lender’s own account, provided that Borrowers shall receive credit against the Required Debt Service Payment in the amounts so transferred to Lender such that in any given Current Interest Accrual Period Borrowers shall not be required to deposit into the Debt Service Payment Sub-Account any amounts in excess of the aggregate amount of the Required Debt Service Payment for such Current Interest Accrual Period.
Payment of Debt Service. At or before 12:00 noon, New York City time, on each Payment Date during the term of the Loan, Lender shall transfer to Lender's own account from the Debt Service Payment Sub-Account an amount equal to the Required Debt Service Payment for the Payment Date. Borrower shall be deemed to have timely made the Required Debt Service Payment pursuant to Section 2.9 regardless of the time Lender makes such transfer as long as sufficient funds are on deposit in the Debt Service Payment Sub-Account at 12:00 noon, New York City time on the applicable Payment Date.
Payment of Debt Service. On each Due Date during the term of the Loan, Lender shall withdraw from the Debt Service Payment Sub-Account and apply to the Indebtedness an amount equal to the sum of all payments of Debt Service and any other amounts payable to Lender under the Note, this Agreement or the other Loan Documents, provided that if any such payment of Debt Service or other amounts is past due, Lender shall make such withdrawal immediately upon allocation of funds to the Debt Service Payment Sub-Account.
Payment of Debt Service. Disbursement of Funds in Basic Sub-Accounts; Excess Property Income ...................................... 28 2.7.8 Payment of Loss Proceeds; Borrowers' Right to Release ..................................... 37
Payment of Debt Service. Borrower will promptly pay the principal of, interest on and any other amount due on the Notes and the other Obligations in the amounts, on the dates and in the manner provided herein, in the Notes and each other document evidencing the Obligations.
Payment of Debt Service. The Trustee shall be obligated to draw under the Letter of Credit or Alternate Credit Facility at such times and in such manner and amounts as shall be necessary to provide for the payment when due of Debt Service on Bonds other than Bank Bonds or Company-Owned Bonds. The Trustee shall not in any event be liable for any failure on the part of the Bank to make payment under the Letter of Credit once a draw in conformity with the terms of the Letter of Credit shall have been submitted by the Trustee.
Payment of Debt Service. If required by any lender as a segment of OPERATOR'S approved financing package and notwithstanding and in addition to the other terms of this Agreement, OPERATOR shall, on or before the tenth (10th) day of each calendar month, pay the bond trustee or lender an amount equal to 1/12th of the annual debt service of any financing packages, including revenue bonds, which are issued under the name of CITY. The CITY and the OPERATOR acknowledge that the payment of debt service is to be undertaken and made by OPERATOR before any distribution to the OPERATOR is made from the revenues of the Project.
Payment of Debt Service. The Trustee shall transfer Eligible Funds, and to the extent necessary other funds, from the Bond Fund to the Paying Agent for the payment of principal, premium, if any, and interest payable on the Bonds as provided in Subsection 304(a) to the extent amounts drawn on the Credit Facility are insufficient to pay the same, and in conjunction therewith shall give the Paying Agent written notice of the amount of Eligible Funds being transferred. The Paying Agent shall apply such payments received from the Trustee and amounts drawn on the Credit Facility, in the following order, (i) moneys drawn on the Credit Facility, (ii) Eligible Funds on deposit in the Bond Fund other than moneys drawn on the Credit Facility, and (iii) any other moneys in the Bond Fund; provided, however, that except as specified in the next sentence, in no event shall the Paying Agent use any moneys other than Eligible Funds to pay principal of, premium, if any, or interest on Bonds supported by a Credit Facility. If and to the extent that sufficient Eligible Funds, including moneys drawn on the Credit Facility pursuant to this section and Section 605, are not available to pay in full the principal of, premium, if any, and interest on the Bonds supported by a Credit Facility, then other available moneys shall be so used.
Payment of Debt Service. At or before 12:00 noon, New York City time, on each Payment Date during the term of the Loan, Lender shall transfer from the Debt Service Payment Sub-Account to its account an amount equal to the Required Debt Service Payment for such Payment Date or, if Servicer has been appointed, Servicer shall transfer from the Debt Service Payment Sub-Account an amount equal to the Required Debt Service Payment for such Payment Date to the account of Servicer established under the Interim Servicing Agreement or, if after the Securitization Closing Date, under any pooling and servicing agreement executed in connection with the Securitization. Borrower shall be deemed to have timely made the Required Debt Service Payment pursuant to Section 2.9 (and no Default Rate interest or late payment premium shall be imposed thereon and there shall be no Event of Default under Section 7.1(i)) regardless of the time Servicer makes such transfer as long as sufficient funds are then on deposit in the Debt Service Payment Sub-Account.
Payment of Debt Service. The Issuer will pay all Debt Service, or cause same to be paid, solely from the sources provided herein, on the dates, at the places and in the manner provided in this Indenture.
