Agenda - 11-16-2010 - 4k - Laserfiche WebLink

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The County will use the Amount Advanced to pay as provided in Section 4.01 of the Trust Agreement. ARTICLE II CONTRACT PAYMENTS 2.1. Installment Payments. (a) The County will repay the Amount Advanced by making Installment Payments directly to the Trustee at the times and in the amounts set forth in Exhibit B, except as otherwise provided in this Contract. (b) Not less than 15 days prior to each Payment Date, the Trustee shall determine the amounts on deposit and available to make the payments due on such Payment Date with respect to the 2010 Bonds, whether in (i) the Interest Account or the Principal Account of the Payment Fund, or (ii) any special trust fund established pursuant to Section 7.01 of the Trust Agreement. The Trustee shall notify the County of such amounts not less than 10 days prior to the applicable Payment Date. The County's obligation to make Installment Payments is reduced by such available amounts as determined by the Trustee. • (c) The County shall make all Installment Payments in lawful money of the United States, by wire transfer or other transfer of immediately available funds to such account in the United States as the Trustee may designate to the County from time to time. 2.2. Additional Payments. The County will pay all Additional Payments on a timely basis directly to the person or entity to which such Additional Payments are owed in lawful money of the United States. If the County fails to pay any Additional Payment when due, the Company may (but will be under no obligation to) pay such Additional Payment. The County agrees to reimburse the Company for any such Additional Payment, together with interest thereon at the annual rate of 4.00%. 2.3. Prepayments. The County at its option may prepay principal components of Installment Payments as and when corresponding principal payments of the 2010 Bonds may be prepaid pursuant to Section 3.01 of the Trust Agreement. Upon any such prepayment, the Trustee will recalculate the schedule of Installment Payments to reflect the prepayment, and will then deliver a substitute Exhibit B to the County reflecting the recalculated payment schedule. 2.4. No Abatement. There will be no abatement or reduction of the • Installment Payments or Additional Payments by the County for any reason, including, but not limited to, any defense, recoupment, setoff, counterclaim, or any claim arising out of or related to the Sites or the Facilities. The County assumes and bears the entire risk of 3