Agenda - Council - 07/12/2022 - Laserfiche WebLink

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ARTICLE IV LOAN OF PROCEEDS TO THE COMPANY; LOAN PROVISIONS Section 4.1 Loan of Proceeds. The Issuer agrees, upon the terms and conditions contained in this Loan Agreement, to lend to the Company the proceeds received by the Issuer from the sale of the Bonds. Such proceeds shall be disbursed to or on behalf of the Company as provided in Section 3.1 hereof. Section 4.2 Amounts Payable. (a) Loan Repayments. The Company hereby covenants and agrees to repay the loan in installments, as follows: (i) on or before the twentieth day of each month, commencing 20, 20 , and continuing until the principal of, premium, if any, and interest on the Bonds shall have been paid or payment thereof shall have been provided for, an amount which, together with amounts on deposit with the Trustee and available for debt service, shall equal one-sixth of the amount of interest due with respect to the Bonds on the next Interest Payment Date; (ii) on or before the twentieth day of each month, commencing 205 20 , and continuing until the principal of, premium, if any, and interest on the Bonds shall have been paid or payment hereof shall have been provided for, an amount which,together with amounts on deposit with the Trustee and available for debt service, shall equal one-twelfth of the amount of principal due with respect to the Bonds on the next Payment Date; (iii) on or before the twentieth day of each month, commencing 20, 20 , an amount equal to the Monthly Deposit; and (iv) in the event of optional or mandatory redemption or acceleration, on or before the tenth day prior to the selected payment day, the amount of principal of and interest on the Bonds due on that date, at maturity or upon redemption, as provided in the Indenture. Such payments shall continue until the principal of, premium, if any, and interest on the Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Indenture. It is understood and agreed that all payments payable under this subsection (a) by the Company are assigned by the Issuer to the Trustee for the benefit of the Bondholders of the Bonds. The Company consents to such assignment. The Issuer hereby directs the Company and the Company hereby agrees to pay to the Trustee at the Trustee's office which is at the address shown in or pursuant to Section 12.5 of the Indenture, all payments payable by the Company pursuant to this subsection (a); provided, however, that amounts transferred from the Revenue Fund to the Bond Fund pursuant to Section 5.2 of the Indenture and amounts transferred from the Capitalized Interest Subaccount of the Bond Fund shall be credited against the payments required under this subsection (a). 9 730911770