Source of Payment of Bonds. The Bonds herein authorized and all payments to be made by the Issuer hereunder are not general obligations of the Issuer but are limited obligations payable solely from the Trust Estate as authorized by the Act and as provided herein. No covenant or agreement contained in the Bonds or this Indenture shall be deemed to be a covenant or agreement of the Issuer or of any member, director, officer, agent, attorney or employee of the Issuer in his or her individual capacity, and neither the Issuer nor any member, director, officer, agent, attorney, or employee of the Issuer executing the Bonds shall be liable personally on the Bonds or be subject to any personal liability or accountability by reason of the issuance of the Bonds.
Source of Payment of Bonds. The Bonds authenticated and delivered hereunder are the obligations of the Issuer, and the Issuer shall make payments hereunder in respect of the principal of, redemption premium, if any, and interest on such Bonds. Such Bonds are not general obligations of the Issuer or the State of Arkansas or any county, municipality or political subdivision thereof, but are limited special obligations payable solely from revenues and proceeds derived from the Notes, the Agreement, the First Mortgage Bonds and as provided herein.
Source of Payment of Bonds. The Bonds are not general obligations of the Issuer but are limited obligations payable solely from the Revenues. The Revenues have been pledged and assigned as security for the equal and ratable payment of the Bonds and shall be used for no other purpose than to pay the principal of, and premium, if any, and interest on, the Bonds, except as may be otherwise expressly authorized in this Indenture or the Agreement.
Source of Payment of Bonds. To the extent provided in and except as otherwise permitted by this Indenture, (i) the Bonds shall be special obligations of the Issuer and the Bond Service Charges thereon shall be payable equally and ratably solely from the Revenues, (ii) the payment of Bond Service Charges on the Bonds shall be secured by the assignment of Revenues hereunder and by this Indenture, and (iii) payments due on the Bonds also shall be secured by the Notes, provided, however, that payment of Bond Service Charges on any series of Additional Bonds may be otherwise secured and protected from sources or by property or instruments not applicable to the Project Bonds and any one or more series of Additional Bonds, or not secured and protected from sources or by property or instruments applicable to the Project Bonds or one or more series of Additional Bonds. The Bonds and the interest payable thereon do not constitute a debt or liability of the Issuer, the State or any political subdivision thereof within the meaning of the provisions of the Constitution or the statutes of the State, or a pledge of the faith and credit or the taxing power of the Issuer, the State or any political subdivision thereof, but shall be payable solely from the funds pledged therefor in accordance with this Indenture.
Source of Payment of Bonds. The Bonds herein authorized and all payments to be made by the Issuer hereunder are not general obligations of the Issuer but are limited obligations payable solely from the Revenues (except to the extent paid out of moneys attributable to the Bond proceeds or the income from the temporary investment thereof), and as authorized by the Act and provided in the Agreement and in this Indenture. The Revenues (except to the extent that Loan Payments are made directly to the Bank in accordance with Section 2.1 of the Agreement) are to be remitted directly to the Trustee for the account of the Issuer and deposited in the Bond Fund (hereinafter created). The entire amount of the Revenues is hereby pledged and assigned to the payment of the principal of, and interest and premium, if any, on, the Bonds.
Source of Payment of Bonds. Section 5.01 Application of Proceeds [and City Contribution]. The net proceeds of the sale of the Bonds received by the Trustee, $ ($ .00 principal amount, less $ underwriter’s discount), shall be deposited by the Trustee as follows:
Source of Payment of Bonds. The Bonds herein authorized and all payments to be made by the Issuer hereunder are not general obligations of the Issuer but are limited obligations payable solely from the Trust Estate as authorized by the Act and as provided herein. No covenant or agreement contained in the Bonds or this Indenture shall be deemed to be a covenant or agreement of the WLCDC, the Redevelopment Commission or the West Lafayette Economic Development Commission or of any member, director, officer, agent, attorney or employee of the Issuer or the WLCDC in his or her individual capacity, and neither the Issuer, the WLCDC nor any member, director, officer, agent, attorney, or employee of the Issuer or the WLCDC executing the Bonds shall be liable personally on the Bonds or be subject to any personal liability or accountability by reason of the issuance of the Bonds.
Source of Payment of Bonds. The Bonds are not general obligations of the Issuer, nor are they payable in any manner from revenues raised by taxation, but are limited obligations payable solely from the revenues and income derived pursuant to the Loan Agreement and the security therefor, the Bond Guarantee and any other Subsidiary Bond Guarantees delivered from time to time and any other moneys constituting the Trust Estate. The revenues and income derived pursuant to the Loan Agreement and the security therefor, and any other moneys constituting the Trust Estate have been pledged and assigned as security for the equal and ratable payment of the Bonds and shall be used for no other purpose than to pay the principal of, and premium, if any, and interest on, the Bonds, except as may be otherwise expressly authorized in this Indenture or the Loan Agreement.
Source of Payment of Bonds. 22 SECTION 6.02. Creation of the Bond Fund...................................................22 SECTION 6.03. Payments into the Bond Fund.................................................22 SECTION 6.04. Use of Moneys in the Bond Fund..............................................23 SECTION 6.05. Custody of the Bond Fund....................................................24 SECTION 6.06. Non-presentment of Bonds at Maturity........................................24 SECTION 6.07. Trustee's Fees, Charges and Expenses........................................24 SECTION 6.08. Moneys to be Held in Trust..................................................24 SECTION 6.09. Repayment to the Lessee from the Bond Fund..................................24 ARTICLE VII CUSTODY AND APPLICATION OF PROCEEDS OF BONDS
Source of Payment of Bonds. The Bonds and all payments by the Issuer hereunder are not general obligations of the State but are special, limited obligations payable solely from the Trust Estate. The pledge of the Trust Estate, including the Pledged Revenues, and the funds and accounts as security for the performance of all obligations of the Issuer hereunder, shall be valid and binding from the time such pledge is made. The Pledged Revenues immediately shall be subject to the lien of this Indenture without any physical delivery thereof or further act. Upon receipt of any Pledged Revenues or other payments hereunder, the Trustee shall deposit the same in the appropriate fund or funds or account or accounts established hereunder. Except as otherwise provided herein, the Pledged Revenues shall be collected, held and applied for the equal and ratable benefit and security of all Owners.
