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

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Proceeds Fund after two years of the date the Released Property was sold are required to be invested at a yield not to exceed the yield on the Tax-Exempt Bonds. The Disposition Proceeds Fund shall be in the custody of the Trustee, but in the name of the Issuer, and the Issuer hereby authorizes and directs the Trustee to withdraw funds from the Disposition Proceeds Fund for the purposes set forth in this Section 5.13 hereof, which authorization and direction the Trustee hereby accepts. SECTION 5.14. Money to be Held in Trust. All money required to be deposited with or paid to the Trustee under any provision of this Indenture, except for money in the Rebate Fund, shall be held by the Trustee in trust for the purposes specified in this Indenture, and shall, while held by the Trustee, and subject to certain provisions of this Indenture, constitute part of the Trust Estate and be subject to the lien hereof. In the event of any act of bankruptcy: (i) amounts on deposit in any of the funds are not, nor shall they be deemed to be, property of the bankruptcy estate of the Company as defined by 11 U.S.C. Section 541; (ii) in no event shall the Company assert, claim or contend that amounts on deposit in any of the funds are property of the bankruptcy estate of the Company; and (iii) amounts on deposit in any of the funds are held in trust solely for the Bondholders and the Beneficial Owners, shall be applied only in accordance with the provisions of this Indenture, and the Company has no legal, equitable nor reversionary interest in, or right to, such amounts. The Issuer shall not create any lien upon any funds created pursuant to this Indenture other than the lien hereby created. SECTION 5.15. Repayment to Company from Funds. Any amounts remaining in the funds held in trust hereunder after payment in full of the principal of,premium, if any, and interest on the Bonds, the fees, charges and expenses of the Trustee, and all other amounts required to be paid hereunder and under the Loan Agreement shall be paid promptly to the Company unless specifically stated otherwise in this Indenture. SECTION 5.16. Investment of Money. Any money held as part of the funds held by the Trustee pursuant to this Indenture shall be invested and reinvested by the Trustee at the written direction of the Company Representative in Permitted Investments, and in the case of securities held as Permitted Investments with maturities of not more than five (5) years, in accordance with the provisions of Section 3.2 of the Loan Agreement,except during the occurrence and continuance of an Event of Default, and except that investments in the Rebate Fund shall be made only in accordance with written directions of the Company or the Rebate Analyst. The Trustee may conclusively rely upon the written investment direction of the Company Representative, the Company, or the Rebate Analyst, as appropriate, as to both the suitability and legality of the directed investments and such written direction shall be deemed to be a certification that such directed investments constitute Permitted Investments and comply with the provisions of this Indenture, the Loan Agreement, and the Tax Certificate. If the Trustee is not provided with written investment directions it shall hold such funds uninvested. Any such investments shall be held in the name of the Trustee and by or under the control of the Trustee. The Trustee may make any and all such investments through its trust department or related companies. The Trustee shall sell and reduce to cash a sufficient amount of such investments in the trust funds whenever the cash balance in any such fund is insufficient for a necessary transfer. The Issuer covenants and certifies to the Trustee and to and for the benefit of the Bondholders of the Bonds from time to 50 735810810