Laserfiche WebLink
ARTICLE V <br /> <br />RENTAL PAYMENTS <br /> <br /> Sect[on 5.1. Rental Payments. Subject to Tenant's exercise of its option to purchase <br />d~c Prqject or prepay in.part Rental Payments pursuant to the Article X hereof, and payment of <br />the PtJrchase Option Price, Tenant shall, by w/re transfer in immediately available funds, pay <br />Rental Payments with respect to the moneys provided by Landlord under this section, as follows: <br /> <br /> (a) At least fifteen Business Days prior to June 15, 2006 and on each June 15 and <br />December 15 thereal~ter, through and including June 15, 2009, the Tenant shall pay the interest <br />due on the Series 2005A Bonds on said dates. <br /> <br /> (b) At least fifteen Business Days prior Dececber 15, 2009, and on each June 15 and <br />December 15 thereafter, the Tenant shall pay all interest and principal then due on the'Series <br />2005A Bonds. <br /> <br /> (c) The Tenant shall have a credit against each Rental Payment to the extent of any <br />in,vestment earnings which are available and which are in excess of amounts otherwise required <br />to pay principal of or interest on the Series 2005A Bonds or to cure any deficiency in the Reserve <br />Fund. <br /> <br /> (d) In the event the Tenant shall have paid Rental Payments with respect to a <br />Payment Date, but the funds on deposit in the Bond Fund are nevertheless insufficient to pay <br />such principal, premium (if any) and interest on the Bonds then due or to become due on such <br />Payment Date, the Tenant will forthwith pay as Rental Payments the amount of the deficiency. <br /> <br /> (e) If, for any reason, the balance in the Reserve Fund is 'less than the Reserve <br />lC. equirement, the Tenant shall, upon request of the Trustee made under Section 5.03(d) of the <br />indenture, immediately pay to the Trustee, for deposit in the Reserve Fund, an amount sufficient <br />to restore the Reserve Fund to the Reserve Requirement. If sums are transferred from the <br />Reserve Fund to the Bond Fund under Section 5.03(c) of the Indenture, the Tenant shall make a <br />semiammat Rental Payment as described in Section 5.03(d) of the Indenture. <br /> <br /> (f) The Tenant shall also have a credit against its Rental Payment obligations under <br />this Section to the extent of funds transferred from the Reserve Fund to the Bond Fund to make <br />dm last payments due on Outstanding Bonds, as described in Section 5.03(f) of the Indenture. <br /> <br /> Section 5.2. Place of Payment Of Rental Payments. The Rental Payments provided for <br />in Section 5:l shall be paid directly to the Trustee at its corporate trust office for the account'of <br />Tenant fbr deposit in the Bond Fund or Reserve Fund, as the case may be, as provided in the' <br />Indenture. <br /> <br />I '76.~908v ( <br /> <br />33 <br /> <br /> <br />