Agmt15 Raymond James and Assoc. Port of RWC sale of refunding bonds

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7'he Port shall transfer, without priority and on an cqual basis, except as to timing of payment, (i)to the Trustce for deposit into thc Interest Funds the amounts required to be deposited therein by the provisions of this]ndenture and the npplicable Supplementst Indentures,each such transfer to be made at the time specified in the applicable Supplemental indenture and to be used to pay interest on the applicable Series of the Bonds,and(ii)to the obligees with respect to Contracts and Parity Repayment Obligations,at the times and in the manner provided for in such Contrects and Parity Repayment Obligations,to provide for the payment of the interest components of such Contracts and Parity Repayment Obligations. ln the event there are insu�cientmoneys in the Revenue Fund to make all such transfers,then such moneys as are available shall be allocated amon� the 8onds, the Contracts, and the Purity Repayment Obli�;ations ratably in proportion to the amount of interest becoming due and payable thereon on the next Interest Payment Date. (b) Principat Funds, Sinkirze Funds, and Principal Components. There shall be � established !'or each Series of Bonds a separate fund with the Trustee, with each such Fund to be designated for ihe Series of Bonds for which it is established and to be known as the"Port of Redwood City Series Bond Principal Fund;' all of which funds shall collectively be known as the "Principal Funds." 7'here shall also be established for each Series of Bonds, if required by a Supplementaf (ndenture,a seperate fund with the Trustee, with such Fund to be designated for the Series of Bonds for which it is established and to be known as the "Port of Redwood City Series 8ond Sinking Fund,"all of which funds shall col lectively be known as the"Sinking Funds." The Port shall lransfer� without priority and on an equal basis, except as to timing of payment,(i)to the Trustee for deposit into the Principal Funds and the Sinking Funds the amcunts required to be depositcd therein by the provisions of this Indenture and the applicable Supplemental Indcntures, each such transfer to be made at the time specified in the applicable Supplemental Indenture and to be used tu pay principal(upon maturity,pcior redemption,or purchase) of the applicable Series of the Bonds,and (ii).to the obfigees with respect to Contracts and Parity Repayment Obligations,at the times and in thc manner provided for in stich Contracts and Parity Repayment Obligations,to provide for the payment of the principal components(upon maturity,prior redemption,or purchase)of such Contracts and Parity Repayment Obligations. ln the event there are insufCcient moncys in the Revenue Fund to make all such transfers,then such moneys as are available shall be allocated among the Bonds,the Contracts,and the Parity Repayment Obligations ratably in proportion to the amount of principal becoming due and payable(upon msturity or prior mandatory sinkinb fund redemption) on the next Principal Aayment Date or Sinking Fund Payment Date, as applicable. (c) Reserve Fund. 7'here is hereby established to be held by the Trustee a special fund to be known as the "Port of Redwood City Bond Reserve Fund;" referred to herein as the "Resecve Fund." Upon the initial issuance and delivery of the first Series of the Bonds hereunder,the Reserve Fund shatl be funded in an amount equal to the Reserve Fund Requirement. All money in (or available to)the Reserve Fund shall be used and withdrawn by the Trustee solely for the purpose of replenishing first the Interest Funds related to Donds secured by the Reserve Fund and second the Principal Funds and the Sinking Funds (on parity to each other) related to Bonds seeured by the Reserve Fund, in the event of any deficiency at eny time in any of such funds,or for the purpose of paying the interest on or principal of or redcmption premiums, if any, on the Outstanding Bonds secured by the Reserve Fund in the event that moneys sufficient for such purpose are not on deposit as provided in pAragraphs(a)and(b)above,or(at the W ritten Request of the Port)for the rctircment of all � i Zona c�zz93 i.000s 27