Laserfiche WebLink
liabilities and advances incurred or made by the Trustee (including fees and expenses of its <br /> attorneys and advisors), be deposited in the Payment Account and all moneys so deposited <br /> during the continuance of an Event of Default (other than moneys for the payment of Bonds <br /> which have previously matured or otherwise become payable prior to such Event of Default or <br /> for the payment of interest due prior to such Event of Default), together with all moneys in the <br /> funds and accounts maintained by the Trustee under Article III hereof, shall be applied as <br /> follows: <br /> (a) Unless the principal of all Bonds shall have become or shall have been <br /> declared due and payable, a�l such moneys shall be applied: <br /> First: To the payment to the persons entitled thereto of all installments of <br /> interest then due on the Bonds, with interest on overdue installments, if lawful, at <br /> the rate per annum borne by the Bonds, in the order of the maturity of the <br /> installments of such interest, and, if the amount available shall not be sufFcient to <br /> pay in full any particular installment of interest, then to the payment ratably <br /> according to the amounts due on such installment, to the persons entitled thereto <br /> without any discrimination or privilege; and <br /> Second: To the payment to the persons entitled thereto of the unpaid <br /> principal of any of the Bonds which shall have become due (other than Bonds ' <br /> called for redemption for the payment of which moneys are held pursuant to the <br /> provisions of this Indenture), with interest on such Bonds at their rate from the <br /> respective dates upon which they became due, in the order of their due dates, <br /> and, if the amount available shall not be sufficient to pay in full Bonds due on any � <br /> particutar date, together with such interest, then to the payment ratably, <br /> according to the amount of principal and interest due on such date, to the <br /> persons entitled thereto without any discrimination or privilege. <br /> (b) If the principal of all the Bonds shall have become due or shall have been <br /> declared due and payable, all such moneys shall be applied to the payment of the <br /> principal and interest then due and unpaid upon the Bonds, with interest on overdue <br /> interest and principal, as aforesaid, without preference or priority over interest or of <br /> interest over principal or of any installment of interest over any other installment of <br /> interest, or of any Bonds over any other Bonds, ratably, according to the amounts due <br /> respectively for principal and interest, to the persons entitled thereto without any <br /> discrimination or privilege. <br /> Whenever the Trustee shall apply such moneys (which shall not include the application <br /> of moneys upon the occurrence of any acceleration pursuant to the provisions hereo�, it shall fix <br /> the date (which shall be an Interest Payment Date unless it shall deem another date more <br /> suitable) upon which date such application is to commence and upon such date interest on the <br /> amounts of principal and interest to be paid on such date shall cease to accrue. The Trustee <br /> shall give such notice as it may deem appropriate of the deposit with it of any such moneys and <br /> of the fixing of any such date and of the special record date in accordance with Article II hereof. <br /> The Trustee shall not be required to make payment to the Owner of any unpaid Bond until such <br /> Bond shall be presented to the Trustee for appropriate endorsement or for cancellation if fully <br /> paid. <br /> 33 <br />