Redemption Account. A Redemption Account is hereby established with the Trustee and money shall be deposited therein as provided herein. The money and investments in such Account shall be held in trust and, except as otherwise specified herein, shall be applied by the Trustee to the redemption of Bonds and Notes. Upon direction by Officer’s Certificate, the Trustee shall apply money in the Redemption Account to the purchase of Bonds and Notes for cancellation at prices not exceeding (unless so directed by Officer’s Certificate) the price at which they are then redeemable (or next redeemable if they are not then redeemable), but not with money required to pay Bonds or Notes for which notice of redemption has been given. Accrued interest on the purchase of Bonds and Notes may be paid from the Bond Account (if so payable hereunder) or as directed by Officer’s Certificate.
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