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Subordinated Obligation Reserve Fund shall be funded to the level required by this Indenture, any <br /> Supplemental]ndenture,or any other document or a�reement applicable thereto. <br /> Section 3.4. Proiect Funds and Costs of Issuance Funds.l'here shall be established for each <br /> Series of Bonds (other than Bonds issued solely tor the purpose of refundin� other Bonds or <br /> obligations)a separate fund with the Trustee,with each such fund to be designated for the Series of <br /> }3onds for which it is established and to be known ps the "Port of Redwood City Series Project <br /> Fund,"all of which such funds the Trustee hereby covenants to maintain,and all of which such funds � <br /> shal)colleciively be k�own as the"Project Funds." "There shall also be established for each Series of <br /> Bonds issued a separatc fund with the Tntstee,with euch such fund to be dtsignated for the Series of <br /> Bonds t'or which it is established and to be known as the "Port of Redwood City Series_Costs of <br /> Issuance Fund,"all of which such funds the Trustee covenanu to maintain and all of which such funds <br /> shall collectivelybe known as the"Costs of Issuance Funds." The Port shall transfer to the Trustee for <br /> deposit into thc Project Fund and the Costs of Issuance Fund established for each Series of Bonds the <br /> amount required to be paid therein by the provisions of this tndenture or the Supplemental Indenture <br /> authorizing such Series of Bonds, and the umount in sucl� funds shall be applied to the purpose <br /> specified in this Indenturc or the Supplementat Indenture authorizing the Series of Bonds for which <br /> such funds were established. <br /> Before any payment of money is made from any Project Fund or Costs of Issuance Fund,the <br /> Po�t shall file with the Trustee a sequentially numbered Written Request of the Port showing with <br /> respect to each payment of money to be made-- <br /> (a) the name and addre.ss of the person to whom payment is due; <br /> (b) the amount of moncy to be paid and the Project Fund or Costs of lssuance Fund <br /> from which such payment is to be made;and <br /> (c) the purpose for which the�bligation to be paid was incurred. <br /> Each such Written Request of the Port shall state (other than requests to p�y Costs o1' <br /> lssuance,which shall state only the items provided for by paragraphs(w)and(x)below)and shall be <br /> conclusive evidence to the Trustee-- <br /> (w) that such payment complies with the requirements of this lndenture, the <br /> Supplemental Indentureand the applicableTax Certificate; <br /> (x) that an obligation in the stated amount has been properly incurred and that such <br /> obligation is a properchar�e againsl the applicablc Projcct Fund or Costs of Issuance Fund;and <br /> (y) that there has not been filed with or served upon the Port a stop notice or any <br /> other notice of eny lien,right to lien or attachment upon,or claim affectin�the right to reeeive <br /> payment of,any of ihe money payable to the person named in such Written Request of ihe Pat <br /> which has not been released or will not be relessed simultaneouslywith the payment of such <br /> obligation,otherthan materialmen'sor mechanics'liens accruing by operation of law,or if such <br /> a stop notice or any other notice has been 61ed with or served upon the Port, the Port has <br /> provided satisfactoiy assurances to the Trustee.including an indemnity or bond,if appropriate, <br /> ixo9a s�zz�n.00us 30 <br />