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Section 6.03. Security Deposit. <br /> Notwithstanding any other provision of this Installment Purchase Contract, the City may <br /> secure the payment of all or a portion of Installment Payments by a deposit with the Trustee, as <br /> escrow holder under an escrow deposit and trust agreement as referenced in and in <br /> conformance with Article IX of the Indenture, of either (i) cash in an amount which, together with <br /> available amounts on deposit in the Payment Fund and the Reserve Fund or reserve fund <br /> established with respect to Parity Obligations, is su�cient to pay such unpaid Installment <br /> Payments, including the principal and interest components thereof, in accordance with the <br /> Installment Payment schedule set forth in Exhibit B attached hereto, or (ii) non-callable Federal <br /> Securities (as defined in the Indenture) or pre-refunded non-callable municipal obligations rated <br /> "AAA" and "Aaa" by S&P and Moody's, respectively, together with cash if required, in such <br /> amount as will, in the opinion of nationally-recognized bond counsel and of an independent <br /> certified public accountant (which opinion shall be addressed to the Trustee, together with <br /> interest to accrue thereon and, if required, all or a portion of moneys or non-callable Federal <br /> Securities then on deposit in the Payment Fund and Reserve Fund or reserve fund established <br /> with respect to Parity Obligations, be fully sufficient to pay such unpaid Installment Payments on <br /> their payment dates so that such Installment Payments shall be defeased as provided for in <br /> Section 9.01 of the Indenture; or <br /> In the event of a deposit pursuant to this Section 6.03, and provided that all other <br /> amounts payable by the City hereunder have been paid in full, all obligations of the City under <br /> this Installment Purchase Contract shall cease and terminate, excepting only the obligation of <br /> the City to make, or cause to be made, all Installment Payments from the deposit made by City <br /> pursuant to this Section 6.03 and the obligation to pay amounts due the Trustee. Said deposit <br /> shall be deemed to be and shall constitute a special fund for the payment of Installment <br /> Payments in accordance with the provisions of this Installment Purchase Contract. <br /> ARTICLE VII <br /> EVENTS OF DEFAULT AND REMEDIES <br /> Section 7.01. Events of Default and Events of Mandatory Acceleration; <br /> Acceleration of Maturities. <br /> If one or more of the following Events of Default shall happen: <br /> (a) default shall be made in the due and punctual payment by the City of any <br /> Installment Payment when and as the same shall become due and payable; <br /> (b) default shall be made by the City in the performance of any of the other <br /> agreements or covenants contained herein or in the Indenture required to be pertormed <br /> by it, and such default shall have continued for a period of sixty (60) days after the City <br /> shall have been given notice in writing of such default by the Authority or the Trustee; <br /> (c) the City shall file a petition seeking arrangement or reorganization under <br /> federal bankruptcy laws or any other applicable law of the United States of America or <br /> any state therein, ar if a court of competent jurisdiction shall approve a petition filed with <br /> the consent of the City seeking arrangement or reorganization under the federal <br /> bankruptcy laws or any other applicable law of the United States of America or any state <br /> 22 <br />