Common use of Redemption Account Clause in Contracts

Redemption Account. The Trustee, on the redemption date specified in the Written Request of the City filed with the Trustee at the time that any prepaid Base Rental Payment is paid to the Trustee pursuant to the Lease Agreement, shall deposit in the Redemption Account that amount of moneys representing the portion of the Base Rental Payments designated as prepaid Base Rental Payments. Additionally, the Trustee shall deposit in the Redemption Account any amounts required to be deposited therein pursuant to Section 5.03 hereof. Moneys in the Redemption Account shall be used by the Trustee for the purpose of paying the principal of and interest and premium, if any, on Bonds redeemed pursuant to the provisions of subsection (a) of Section 4.01 hereof and any Bonds redeemed pursuant to the provisions of the Supplemental Indenture pursuant to which such Series of Bonds are issued.