Common use of Bond Fund Clause in Contracts

Bond Fund. The Trustee shall establish and maintain, so long as any of the Bonds are outstanding, a separate fund to be known as the “Bond Fund.” Money in the Bond Fund shall be applied as provided in this Section 4.2. In addition, there shall be deposited in the Bond Fund, as and when received, (i) all payments received pursuant to the Notes, including the required deposits of Lease Rental Payments pursuant to Section 4.4 hereof; (ii) all payments specified in Section 3.2 of the Loan Agreement; (iii) any amount remaining in the Construction Fund to be transferred to the Bond Fund pursuant to the Indenture upon acceleration of the maturity of the Series 20 Bonds; (iv) all interest and other income derived from investments of Bond Fund moneys as provided herein; and (vi) all other moneys received by the Trustee under and pursuant to any of the provisions of the Loan Agreement which are required or which are accompanied by directions that such moneys are to be paid into the Bond Fund. The Issuer hereby covenants and agrees that so long as any of the Bonds issued hereunder are outstanding it will deposit, or cause to be paid to Trustee for deposit in the Bond Fund for its account, sufficient sums from revenues and receipts derived from the Notes and the Loan Agreement, including the Lease Rental Payments, promptly to meet and pay the principal of, premium, if any, and interest on the Bonds as the same become due and payable. Nothing herein should be construed as requiring Issuer to deposit or cause to be paid to Trustee for deposit in the Bond Fund, funds from any source other than receipts derived from the Notes, the Loan Agreement, and the Lease Rental Payments. The Borrower shall immediately upon receipt transfer the Lease Rental Payments to the Trustee as set forth in Section 4.4. The Trustee is hereby directed to deposit into the Bond Fund from each Lease Rental Payment, an amount equal to the lesser of the following: (a) all of such rental payment; or (b) an amount which equals the sum of the principal and interest on the Bonds due on, before or within twenty (20) days after the date such Lease Rental Payment becomes due. Any portion of a rental payment remaining after such deposit shall be deposited by the Trustee in the Operation Fund. Moneys in the Bond Fund shall be used by the Trustee to pay interest, premium, if any, and principal on the Bonds as they become due at maturity, redemption or upon acceleration. The Trustee shall transmit such funds to the Paying Agent for any series of Bonds in sufficient time to insure that such interest will be paid as it becomes due.

Bond Fund. The Trustee shall establish and maintain, so long as any of the Bonds are outstanding, a separate fund to be known as the “"Bond Fund.” " Money in the Bond Fund shall be applied as provided in this Section 4.2. In addition, there There shall be deposited in the Bond Fundand Interest Account, as and when receivedreceived by the Trustee: (a) TIF Revenues, (i) all payments received pursuant junior and subordinate to the NotesOutstanding Obligations (as to the pledge of the CCW Tax Increment), including Taxpayer Payments and, to the required deposits extent TIF Revenues and Taxpayer Payments received and deposited are not sufficient to pay the next debt service payment, a portion of Lease Rental Payments the Annual Appropriation of the General Revenues pursuant to Section 4.4 hereof4.6 herein sufficient to pay the next debt service payment; (ii) all payments specified in Section 3.2 of the Loan Agreement; (iiib) any amount remaining in the Construction Fund to be transferred to the Bond Fund pursuant to the Indenture upon acceleration completion of the maturity of the Series 20 BondsProject; (ivc) all interest and other income derived from investments of Bond Fund moneys as provided herein; and (vid) all other moneys received by the Trustee under and pursuant to any of the provisions of the Loan Financing Agreement which are required or which are accompanied by written directions that such moneys are to be paid into the Bond Fund. The Issuer hereby covenants and agrees that so long as any of the Bonds issued hereunder are outstanding it will deposit, or cause to be paid to Trustee for deposit in the Bond Fund for its account, sufficient sums from revenues TIF Revenues and receipts derived from Taxpayer Payments and, to the Notes extent TIF Revenues and Taxpayer Payments received and deposited are not sufficient to pay the Loan Agreementnext debt service payment, including the Lease Rental PaymentsAnnual Appropriation of General Revenues, promptly to meet and pay the principal of, and premium, if any, and interest on the Bonds as the same become due and payable. Nothing herein should be construed as requiring the Issuer to deposit or cause to be paid to Trustee for deposit in the Bond Fund, funds from any source other than receipts derived from TIF Revenues, Taxpayer Payments and General Revenues appropriated for the Notespayment of debt service. The Controller of the Issuer shall set aside, immediately upon receipt, the Loan Agreement, TIF Revenues in the Issuer's Allocation Fund as created by IC 36-7-14 and the Lease Rental Payments. The Borrower shall immediately upon receipt transfer the Lease Rental TIF Revenues and Taxpayer Payments to the Trustee as set forth in Section 4.4for the payment of the Bonds. To the extent TIF Revenues and Taxpayer Payments are not sufficient, the Controller of the Issuer shall transfer to the Trustee a sufficient amount of the Annual Appropriation of General Revenues to pay the next debt service payment. The Trustee is hereby directed to deposit the TIF Revenues, Taxpayer Payments and General Revenues received into the Bond Fund from each Lease Rental Payment, an amount equal to the lesser of the following: (a) all of such rental payment; or (b) an amount which equals the sum of the principal and interest on the Bonds due on, before or within twenty (20) days after the date such Lease Rental Payment becomes due. Any portion of a rental payment remaining after such deposit shall be deposited by the Trustee Interest Account in the Operation Fundmanner prescribed in this Section 4.2 and in Section 4.5. Moneys in the Bond Fund shall be used by the Trustee to pay interest, premium, if any, and principal on and interest of the Bonds as they become due upon each principal and interest payment date, at maturity, upon redemption or upon acceleration. The Trustee shall transmit such funds to the Paying Agent for any series of Bonds in sufficient time to insure that such interest will be paid as it becomes due.

Bond Fund. The Trustee shall establish and maintain, so long as any of the Bonds are outstanding, a separate fund to be known as the “"Bond Fund.” " Money in the Bond Fund shall be applied as provided in this Section 4.2. In addition, there There shall be deposited in the Bond Fund, as and when received, received by the Trustee: (ia) all payments received pursuant to the Notes, including the required deposits of Lease Rental Payments pursuant to TIF Revenues as provided in Section 4.4 hereof4.6; (ii) all payments specified in Section 3.2 of the Loan Agreement; (iiib) any amount remaining in the Construction Fund to be transferred to the Bond Fund pursuant to the Indenture upon acceleration completion of the maturity of the Series 20 BondsProject; (ivc) all interest and other income derived from investments of Bond Fund moneys as provided herein; and (vid) all other moneys received by the Trustee under and pursuant to any of the provisions of the Loan Financing Agreement which are required or which are accompanied by directions that such moneys are to be paid into the Bond Fund. The Issuer hereby covenants and agrees that so long as any of the Bonds issued hereunder are outstanding it will deposit, or cause to be paid to Trustee for deposit in the Bond Fund for its account, sufficient sums from revenues and receipts derived from of the Notes and the Loan Agreement, including the Lease Rental Payments, TIF Revenues promptly to meet and pay the principal of, premium, if any, of and interest on the Bonds as the same become due and payable. Nothing herein should be construed as requiring Issuer to deposit or cause to be paid to Trustee for deposit in the Bond Fund, funds from any source other than receipts derived from the Notes, the Loan Agreement, and the Lease Rental Payments. The Borrower shall immediately upon receipt transfer the Lease Rental Payments to the Trustee as set forth in Section 4.4. The Trustee is hereby directed to deposit into the Bond Fund from each Lease Rental Payment, an amount equal to the lesser of the following: (a) all of such rental payment; or (b) an amount which equals the sum of the principal and interest on the Bonds due on, before or within twenty (20) days after the date such Lease Rental Payment becomes due. Any portion of a rental payment remaining after such deposit shall be deposited by the Trustee in the Operation FundTIF Revenues. Moneys in the Bond Fund shall be used by the Trustee to pay interest, premium, if any, interest and principal on the Bonds as they become due upon each Interest Payment Date, at maturity, upon redemption or upon accelerationacceleration and to pay Annual Fees. The Trustee shall transmit such funds to the Paying Agent for any series of the Series 2020 Bonds in sufficient time to insure that such interest will be paid as it becomes due. If TIF Revenues on deposit in the Bond Fund are not sufficient to pay the principal and interest then due, TIF Revenues shall be applied first to pay unpaid interest and then to unpaid and due principal; provided, however, that no interest shall be due or paid on any unpaid interest.

Bond Fund. The Trustee shall establish There is hereby established and maintain, so long as any created a fund for each series of the Bonds are outstanding, a separate fund to be known as the designated “Hillsborough County Industrial Development Authority Pollution Control Revenue Refunding Bonds (Tampa Electric Company Project) Series 2007 Bond Fund.” Money and with a further designation for each series. The Bond Fund for each series of Bonds and the moneys and Permitted Investments therein shall be used solely and exclusively for the payment of Bond Service Charges for such series of Bonds as they become due at stated maturity, by redemption, or by acceleration, all as provided herein. Bond Service Charges shall be payable, as they become due, (i) in the Bond Fund shall first instance from the payments to be applied as provided in this made by the Company to the Trustee pursuant to Section 4.2. In addition, there shall 5.05(a) and to be deposited in the Bond Fund, as and when received, (i) all payments received pursuant to the Notes, including the required deposits of Lease Rental Payments pursuant to Section 4.4 hereof; (ii) all if those payments specified in Section 3.2 of the Loan Agreement; (iii) any amount remaining in the Construction Fund to be transferred to the Bond Fund pursuant to the Indenture upon acceleration of the maturity of the Series 20 Bonds; (iv) all interest and other income derived from investments of Bond Fund are not made or if moneys as provided herein; and (vi) all other moneys received by the Trustee under and pursuant to any of the provisions of the Loan Agreement which are required or which are accompanied by directions that such moneys are to be paid into the Bond Fund. The Issuer hereby covenants and agrees that so long as any of the Bonds issued hereunder are outstanding it will deposit, or cause to be paid to Trustee for then on deposit in the Bond Fund and available for its account, that purpose are not sufficient sums from revenues and receipts derived from the Notes and the Loan Agreement, including the Lease Rental Payments, promptly to meet and pay the principal ofBond Service Charges, premium, if anyfrom other Revenues to the extent then available, and interest on (iii) from any other source lawfully available to the Bonds as Trustee. Except where moneys have been deposited with or paid to the same become due and payable. Nothing herein should be construed as requiring Issuer Trustee pursuant to deposit an instrument restricting their application to particular Bonds, all moneys required or cause permitted to be deposited with or paid to the Trustee for deposit in the Bond Fund, funds from under any source other than receipts derived from the Notes, the Loan provision of this Agreement, and the Lease Rental Payments. The Borrower shall immediately upon receipt transfer the Lease Rental Payments to the Trustee as set forth in Section 4.4. The Trustee is hereby directed to deposit into the Bond Fund from each Lease Rental Paymentany investments thereof, an amount equal to the lesser of the following: (a) all of such rental payment; or (b) an amount which equals the sum of the principal and interest on the Bonds due on, before or within twenty (20) days after the date such Lease Rental Payment becomes due. Any portion of a rental payment remaining after such deposit shall be deposited held by the Trustee in trust. Except for (i) moneys deposited with or paid to the Operation Fund. Moneys in Trustee for the Bond Fund redemption of Bonds, notice of the redemption of which shall be used have been duly given, and (ii) moneys held by the Trustee pursuant to pay interestSection 13.03, premium, if any, and principal on all moneys described in the Bonds as they become due at maturity, redemption or upon accelerationpreceding sentence held by the Trustee shall be subject to the lien hereof while so held. The Trustee shall transmit apply money contained in the accounts described below at the following respective times in the manner hereinafter provided, which accounts the Trustee hereby agrees to establish and maintain within the Bond Fund so long as this Agreement is not discharged in accordance with ARTICLE XIII and each such funds to account shall constitute a trust fund for the Paying Agent benefit of the holders of the Bonds and the Bond Insurer, and the money in each such account shall be disbursed only for any series of Bonds in sufficient time to insure that such interest will be paid as it becomes duethe purposes and uses hereinafter authorized.

Bond Fund. The Upon the receipt thereof, the Trustee shall deposit all Revenues in the "California Pollution Control Financing Authority Pollution Control Refunding Revenue Bonds (Laidlaw Envirxxxxxxxl Services, Inc.) 1997 Series A Bond Fund," which the Trustee shall establish and maintainmaintain and hold in trust, so long and which shall be disbursed and applied only as any of the Bonds are outstandinghereinafter authorized. Except as provided in this Section, a separate fund to be known as the “Bond Fund.” Money Sections 5.06 and 10.03, moneys in the Bond Fund shall be applied as provided in this Section 4.2. In addition, there shall be deposited in used solely for the Bond Fund, as and when received, (i) all payments received pursuant to the Notes, including the required deposits of Lease Rental Payments pursuant to Section 4.4 hereof; (ii) all payments specified in Section 3.2 payment of the Loan Agreement; (iii) any amount remaining in the Construction Fund to be transferred to the Bond Fund pursuant to the Indenture upon acceleration principal of the maturity of the Series 20 Bonds; (iv) all interest and other income derived from investments of Bond Fund moneys as provided herein; and (vi) all other moneys received by the Trustee under and pursuant to any of the provisions of the Loan Agreement which are required or which are accompanied by directions that such moneys are to be paid into the Bond Fund. The Issuer hereby covenants and agrees that so long as any of the Bonds issued hereunder are outstanding it will deposit, or cause to be paid to Trustee for deposit in the Bond Fund for its account, sufficient sums from revenues and receipts derived from the Notes and the Loan Agreement, including the Lease Rental Payments, promptly to meet and pay the principal of, premium, if any, and interest on the Bonds as the same shall become due and payabledue, whether at maturity or upon redemption or acceleration or otherwise. Nothing herein should be construed as requiring Issuer The Trustee shall deposit in the Bond Fund from time to deposit or cause to be paid to time, upon receipt thereof, all Repayment Installments received by the Trustee from the Borrower for deposit in the Bond Fund, funds from any source other than receipts derived income received from the Notes, the Loan Agreement, and the Lease Rental Payments. The Borrower shall immediately upon receipt transfer the Lease Rental Payments to the Trustee as set forth investment of moneys on deposit in Section 4.4. The Trustee is hereby directed to deposit into the Bond Fund and any other Revenues, including insurance proceeds, condemnation awards and other prepayment amounts received under the Agreement from each Lease Rental Payment, an amount equal to or for the lesser account of the following: (a) all Borrower. In making payments of such rental payment; or (b) an amount which equals the sum of the principal of, and interest on the Bonds due onBonds, before or within twenty the Trustee shall (20a) days after first use all available amounts held in the date such Lease Rental Payment becomes due. Any portion of a rental payment remaining after such deposit shall be deposited Bond Fund, and (b) then use any other Revenues received by the Trustee in Trustee. Except to the Operation Fund. Moneys extent such moneys are required to be held for the payment of principal of, or interest on the Bonds then due and payable or to effect the defeasance of Bonds pursuant to Article X hereof, so long as no Event of Default (or any event which would be an Event of Default hereunder with the passage of time or the giving of notice) exists hereunder, on the fifth day after each Interest Payment Date, the Trustee, unless otherwise instructed by the Borrower, shall return to the Borrower (free and clear of the pledge and lien of this Indenture) any moneys then on deposit in the Bond Fund or shall be used deposit such funds in the Rebate Fund if so instructed by the Trustee to pay interest, premium, if any, and principal on the Bonds as they become due at maturity, redemption or upon acceleration. The Trustee shall transmit such funds to the Paying Agent for any series of Bonds in sufficient time to insure that such interest will be paid as it becomes dueBorrower.

Bond Fund. There is hereby established and created a fund to be designated “Polk County Industrial Development Authority Solid Waste Disposal Facility Revenue Refunding Bonds (Tampa Electric Company Project) Series 2010 Bond Fund.” The Trustee shall further establish and maintain, so long as any of separate accounts within the Bonds are outstanding, a separate fund Bond Fund to be known as the “Bond FundInterest Account,” the “Principal Account” and the “Redemption Account.” Money The Bond Fund and the moneys and Permitted Investments therein shall be used solely and exclusively for the payment of Bond Service Charges as they become due at stated maturity, by redemption, or by acceleration, all as provided herein. Bond Service Charges shall be payable, as they become due, (i) in the Bond Fund shall first instance from the payments to be applied as provided in this made by the Company to the Trustee pursuant to Section 4.2. In addition, there shall 5.05(a) and to be deposited in the Bond Fund, as and when received, (i) all payments received pursuant to the Notes, including the required deposits of Lease Rental Payments pursuant to Section 4.4 hereof; (ii) all if those payments specified in Section 3.2 of the Loan Agreement; (iii) any amount remaining in the Construction Fund to be transferred to the Bond Fund pursuant to the Indenture upon acceleration of the maturity of the Series 20 Bonds; (iv) all interest and other income derived from investments of Bond Fund are not made or if moneys as provided herein; and (vi) all other moneys received by the Trustee under and pursuant to any of the provisions of the Loan Agreement which are required or which are accompanied by directions that such moneys are to be paid into the Bond Fund. The Issuer hereby covenants and agrees that so long as any of the Bonds issued hereunder are outstanding it will deposit, or cause to be paid to Trustee for then on deposit in the Bond Fund and available for its account, that purpose are not sufficient sums from revenues and receipts derived from the Notes and the Loan Agreement, including the Lease Rental Payments, promptly to meet and pay the principal ofBond Service Charges, premium, if anyfrom other Revenues to the extent then available, and interest on (iii) from any other source lawfully available to the Bonds as Trustee. Except where moneys have been deposited with or paid to the same become due and payable. Nothing herein should be construed as requiring Issuer Trustee pursuant to deposit an instrument restricting their application to particular Bonds, all moneys required or cause permitted to be deposited with or paid to the Trustee for deposit in the Bond Fund, funds from under any source other than receipts derived from the Notes, the Loan provision of this Agreement, and the Lease Rental Payments. The Borrower shall immediately upon receipt transfer the Lease Rental Payments to the Trustee as set forth in Section 4.4. The Trustee is hereby directed to deposit into the Bond Fund from each Lease Rental Paymentany investments thereof, an amount equal to the lesser of the following: (a) all of such rental payment; or (b) an amount which equals the sum of the principal and interest on the Bonds due on, before or within twenty (20) days after the date such Lease Rental Payment becomes due. Any portion of a rental payment remaining after such deposit shall be deposited held by the Trustee in trust. Except for (i) moneys deposited with or paid to the Operation Fund. Moneys in Trustee for the Bond Fund redemption of Bonds, notice of the redemption of which shall be used have been duly given, and (ii) moneys held by the Trustee pursuant to pay interestSection 13.03, premium, if any, and principal on all moneys described in the Bonds as they become due at maturity, redemption or upon accelerationpreceding sentence held by the Trustee shall be subject to the lien hereof while so held. The Trustee shall transmit apply money contained in the accounts described below at the following respective times in the manner hereinafter provided, which accounts the Trustee hereby agrees to establish and maintain within the Bond Fund so long as this Agreement is not discharged in accordance with ARTICLE XIII and each such funds to account shall constitute a trust fund for the Paying Agent benefit of the holders of the Bonds, and the money in each such account shall be disbursed only for any series of Bonds in sufficient time to insure that such interest will be paid as it becomes duethe purposes and uses hereinafter authorized.

Bond Fund. The Trustee shall establish There is hereby established and maintain, so long as any of the Bonds are outstanding, created a separate fund to be known as the designated “Polk County Industrial Development Authority Solid Waste Disposal Facility Revenue Refunding Bonds (Tampa Electric Company Project) Series 2007 Bond Fund.” Money The Bond Fund and the moneys and Permitted Investments therein shall be used solely and exclusively for the payment of Bond Service Charges as they become due at stated maturity, by redemption, or by acceleration, all as provided herein. Bond Service Charges shall be payable, as they become due, (i) in the Bond Fund shall first instance from the payments to be applied as provided in this made by the Company to the Trustee pursuant to Section 4.2. In addition, there shall 5.05(a) and to be deposited in the Bond Fund, as and when received, (i) all payments received pursuant to the Notes, including the required deposits of Lease Rental Payments pursuant to Section 4.4 hereof; (ii) all if those payments specified in Section 3.2 of the Loan Agreement; (iii) any amount remaining in the Construction Fund to be transferred to the Bond Fund pursuant to the Indenture upon acceleration of the maturity of the Series 20 Bonds; (iv) all interest and other income derived from investments of Bond Fund are not made or if moneys as provided herein; and (vi) all other moneys received by the Trustee under and pursuant to any of the provisions of the Loan Agreement which are required or which are accompanied by directions that such moneys are to be paid into the Bond Fund. The Issuer hereby covenants and agrees that so long as any of the Bonds issued hereunder are outstanding it will deposit, or cause to be paid to Trustee for then on deposit in the Bond Fund and available for its account, that purpose are not sufficient sums from revenues and receipts derived from the Notes and the Loan Agreement, including the Lease Rental Payments, promptly to meet and pay the principal ofBond Service Charges, premium, if anyfrom other Revenues to the extent then available, and interest on (iii) from any other source lawfully available to the Bonds as Trustee. Except where moneys have been deposited with or paid to the same become due and payable. Nothing herein should be construed as requiring Issuer Trustee pursuant to deposit an instrument restricting their application to particular Bonds, all moneys required or cause permitted to be deposited with or paid to the Trustee for deposit in the Bond Fund, funds from under any source other than receipts derived from the Notes, the Loan provision of this Agreement, and the Lease Rental Payments. The Borrower shall immediately upon receipt transfer the Lease Rental Payments to the Trustee as set forth in Section 4.4. The Trustee is hereby directed to deposit into the Bond Fund from each Lease Rental Paymentany investments thereof, an amount equal to the lesser of the following: (a) all of such rental payment; or (b) an amount which equals the sum of the principal and interest on the Bonds due on, before or within twenty (20) days after the date such Lease Rental Payment becomes due. Any portion of a rental payment remaining after such deposit shall be deposited held by the Trustee in trust. Except for (i) moneys deposited with or paid to the Operation Fund. Moneys in Trustee for the Bond Fund redemption of Bonds, notice of the redemption of which shall be used have been duly given, and (ii) moneys held by the Trustee pursuant to pay interestSection 13.03, premium, if any, and principal on all moneys described in the Bonds as they become due at maturity, redemption or upon accelerationpreceding sentence held by the Trustee shall be subject to the lien hereof while so held. The Trustee shall transmit apply money contained in the accounts described below at the following respective times in the manner hereinafter provided, which accounts the Trustee hereby agrees to establish and maintain within the Bond Fund so long as this Agreement is not discharged in accordance with ARTICLE XIII and each such funds to account shall constitute a trust fund for the Paying Agent benefit of the holders of the Bonds and the Bond Insurer, and the money in each such account shall be disbursed only for any series of Bonds in sufficient time to insure that such interest will be paid as it becomes duethe purposes and uses hereinafter authorized.

Bond Fund. The Trustee shall establish and maintain, so long as any of the Bonds are outstanding, a separate fund to be known as the “Bond Fund.” Money in the Bond Fund shall be applied as provided in this Section 4.2. In addition, there There shall be deposited in into the Bond Fund, as and when received, (ia) all Sublease Rental Payments; (b) all payments received pursuant to the Notes, including the required deposits of Lease Rental Payments pursuant to Section 4.4 hereof; (iic) all payments specified in Section 3.2 of the Loan Financing Agreement; (iii) any amount remaining in the Construction Fund to be transferred to the Bond Fund pursuant to the Indenture upon acceleration of the maturity of the Series 20 Bonds; (ivd) all interest and other income derived from investments of Bond Fund moneys as provided herein; (e) any required transfers from the Debt Service Reserve Fund; and (vif) all other moneys received by the Trustee under and pursuant to any of the provisions of the Loan Financing Agreement which are required or which are accompanied by directions that such moneys are to be paid into the Bond Fund. The Issuer hereby covenants and agrees that so long as any of the Bonds issued hereunder are outstanding it will deposit, or cause to be paid to Trustee for deposit in into the Bond Fund for its account, sufficient sums from all revenues and receipts derived from the Notes and the Loan Financing Agreement, including for application to the Lease Rental Payments, promptly to meet and pay payment of the principal of, premium, if any, of and interest on the Bonds as the same become due and payable. Nothing herein should be construed as requiring Issuer to deposit or cause to be paid to Trustee for deposit in the Bond Fund, funds from any source other than receipts derived from the Notes, the Loan AgreementSublease Rental Payments, and from the Lease Rental Payments. The Borrower shall immediately upon receipt transfer Notes and the Lease Rental Payments to the Trustee as set forth in Section 4.4. The Trustee is hereby directed to deposit into the Bond Fund from each Lease Rental Payment, an amount equal to the lesser of the following: (a) all of such rental payment; or (b) an amount which equals the sum of the principal and interest on the Bonds due on, before or within twenty (20) days after the date such Lease Rental Payment becomes due. Any portion of a rental payment remaining after such deposit shall be deposited by the Trustee in the Operation FundFinancing Agreement. Moneys in the Bond Fund shall be used by the Trustee first to pay interest, premium, if any, interest and then principal on the Bonds as they become due at maturity, redemption or upon accelerationsuch moneys are available. The Trustee shall transmit such funds to the Paying Agent for any series of Bonds in sufficient time to insure that such interest and principal will be paid as it becomes dueon any Interest Payment Date.

Bond Fund. The Trustee shall establish There is hereby established and maintain, so long as any of the Bonds are outstanding, created a separate fund to be known as the designated “Hillsborough County Industrial Development Authority Pollution Control Revenue Refunding Bonds (Tampa Electric Company Project) Series 2006 Bond Fund.” Money The Bond Fund and the moneys and Permitted Investments therein shall be used solely and exclusively for the payment of Bond Service Charges as they become due at stated maturity, by redemption, or by acceleration, all as provided herein. Bond Service Charges shall be payable, as they become due, (i) in the Bond Fund shall first instance from the payments to be applied as provided in this made by the Company to the Trustee pursuant to Section 4.2. In addition, there shall 5.05(a) and to be deposited in the Bond Fund, as and when received, (i) all payments received pursuant to the Notes, including the required deposits of Lease Rental Payments pursuant to Section 4.4 hereof; (ii) all if those payments specified in Section 3.2 of the Loan Agreement; (iii) any amount remaining in the Construction Fund to be transferred to the Bond Fund pursuant to the Indenture upon acceleration of the maturity of the Series 20 Bonds; (iv) all interest and other income derived from investments of Bond Fund are not made or if moneys as provided herein; and (vi) all other moneys received by the Trustee under and pursuant to any of the provisions of the Loan Agreement which are required or which are accompanied by directions that such moneys are to be paid into the Bond Fund. The Issuer hereby covenants and agrees that so long as any of the Bonds issued hereunder are outstanding it will deposit, or cause to be paid to Trustee for then on deposit in the Bond Fund and available for its account, that purpose are not sufficient sums from revenues and receipts derived from the Notes and the Loan Agreement, including the Lease Rental Payments, promptly to meet and pay the principal ofBond Service Charges, premium, if anyfrom other Revenues to the extent then available, and interest on (iii) from any other source lawfully available to the Bonds as Trustee. Except where moneys have been deposited with or paid to the same become due and payable. Nothing herein should be construed as requiring Issuer Trustee pursuant to deposit an instrument restricting their application to particular Bonds, all moneys required or cause permitted to be deposited with or paid to the Trustee for deposit in the Bond Fund, funds from under any source other than receipts derived from the Notes, the Loan provision of this Agreement, and the Lease Rental Payments. The Borrower shall immediately upon receipt transfer the Lease Rental Payments to the Trustee as set forth in Section 4.4. The Trustee is hereby directed to deposit into the Bond Fund from each Lease Rental Paymentany investments thereof, an amount equal to the lesser of the following: (a) all of such rental payment; or (b) an amount which equals the sum of the principal and interest on the Bonds due on, before or within twenty (20) days after the date such Lease Rental Payment becomes due. Any portion of a rental payment remaining after such deposit shall be deposited held by the Trustee in trust. Except for (i) moneys deposited with or paid to the Operation Fund. Moneys in Trustee for the Bond Fund redemption of Bonds, notice of the redemption of which shall be used have been duly given, and (ii) moneys held by the Trustee pursuant to pay interestSection 13.03, premium, if any, and principal on all moneys described in the Bonds as they become due at maturity, redemption or upon accelerationpreceding sentence held by the Trustee shall be subject to the lien hereof while so held. The Trustee shall transmit apply money contained in the accounts described below at the following respective times in the manner hereinafter provided, which accounts the Trustee hereby agrees to establish and maintain within the Bond Fund so long as this Agreement is not discharged in accordance with ARTICLE XIII and each such funds to account shall constitute a trust fund for the Paying Agent benefit of the holders of the Bonds and the Bond Insurer, and the money in each such account shall be disbursed only for any series of Bonds in sufficient time to insure that such interest will be paid as it becomes duethe purposes and uses hereinafter authorized.

Bond Fund. The Upon the receipt thereof, the Trustee shall deposit all Revenues in the "California Pollution Control Financing Authority Pollution Control Refunding Revenue Bonds (Laidxxx Xxxironmental Services, Inc.) 1997 Series A Bond Fund," which the Trustee shall establish and maintainmaintain and hold in trust, so long and which shall be disbursed and applied only as any of the Bonds are outstandinghereinafter authorized. Except as provided in this Section, a separate fund to be known as the “Bond Fund.” Money Sections 5.06 and 10.03, moneys in the Bond Fund shall be applied as provided in this Section 4.2. In addition, there shall be deposited in used solely for the Bond Fund, as and when received, (i) all payments received pursuant to the Notes, including the required deposits of Lease Rental Payments pursuant to Section 4.4 hereof; (ii) all payments specified in Section 3.2 payment of the Loan Agreement; (iii) any amount remaining in the Construction Fund to be transferred to the Bond Fund pursuant to the Indenture upon acceleration principal of the maturity of the Series 20 Bonds; (iv) all interest and other income derived from investments of Bond Fund moneys as provided herein; and (vi) all other moneys received by the Trustee under and pursuant to any of the provisions of the Loan Agreement which are required or which are accompanied by directions that such moneys are to be paid into the Bond Fund. The Issuer hereby covenants and agrees that so long as any of the Bonds issued hereunder are outstanding it will deposit, or cause to be paid to Trustee for deposit in the Bond Fund for its account, sufficient sums from revenues and receipts derived from the Notes and the Loan Agreement, including the Lease Rental Payments, promptly to meet and pay the principal of, premium, if any, and interest on the Bonds as the same shall become due and payabledue, whether at maturity or upon redemption or acceleration or otherwise. Nothing herein should be construed as requiring Issuer The Trustee shall deposit in the Bond Fund from time to deposit or cause to be paid to time, upon receipt thereof, all Repayment Installments received by the Trustee from the Borrower for deposit in the Bond Fund, funds from any source other than receipts derived income received from the Notes, the Loan Agreement, and the Lease Rental Payments. The Borrower shall immediately upon receipt transfer the Lease Rental Payments to the Trustee as set forth investment of moneys on deposit in Section 4.4. The Trustee is hereby directed to deposit into the Bond Fund and any other Revenues, including insurance proceeds, condemnation awards and other prepayment amounts received under the Agreement from each Lease Rental Payment, an amount equal to or for the lesser account of the following: (a) all Borrower. In making payments of such rental payment; or (b) an amount which equals the sum of the principal of, and interest on the Bonds due onBonds, before or within twenty the Trustee shall (20a) days after first use all available amounts held in the date such Lease Rental Payment becomes due. Any portion of a rental payment remaining after such deposit shall be deposited Bond Fund, and (b) then use any other Revenues received by the Trustee in Trustee. Except to the Operation Fund. Moneys extent such moneys are required to be held for the payment of principal of, or interest on the Bonds then due and payable or to effect the defeasance of Bonds pursuant to Article X hereof, so long as no Event of Default (or any event which would be an Event of Default hereunder with the passage of time or the giving of notice) exists hereunder, on the fifth day after each Interest Payment Date, the Trustee, unless otherwise instructed by the Borrower, shall return to the Borrower (free and clear of the pledge and lien of this Indenture) any moneys then on deposit in the Bond Fund or shall be used deposit such funds in the Rebate Fund if so instructed by the Trustee to pay interest, premium, if any, and principal on the Bonds as they become due at maturity, redemption or upon acceleration. The Trustee shall transmit such funds to the Paying Agent for any series of Bonds in sufficient time to insure that such interest will be paid as it becomes dueBorrower.