Agenda - 06-24-1986 - Laserfiche WebLink

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the Bond (as such term is defined in the Loan Agreement ) shall be invested or reinvested only in the investments specified in clause ( i ) above. The investments or reinvestments so purchased shall be held by the Depositary or the Holder, as the case may be, in trust and shall be deemed at all times to be a part of the Project Fund or special trust funds, as the case may be, and the interest accruing thereon and any profit realized therefrom shall be credited to such fund, and any losses resulting from such investment shall be charged to such fund and reimbursed by the Company to such fund. The Depositary shall not be liable for any loss on investments made in accordance with this Section 10. The Depositary or the Holder, as the case may be, are hereby directed to sell and to reduce to cash a sufficient amount of such investments whenever the cash balance in any such fund is insufficient to pay a requisition and certificate when duly presented as aforesaid or to make a payment or prepayment on the Bond when due. The investments or reinvestments may be made by oral instruction of the Company Representative so long as such oral instruction is confirmed in writing to the Depositary within five ( 5) business days after oral instruction is given. In the event the Company Representative fails to submit the written confirmation within the prescribed five (5) business day period, the Depository shall not be required to act thereafter on oral instruction, and will make investments and reinvestments only upon written instruction from the Company Representative. Section 11. Completion of the Project. The completion of the Project and the payment of the Cost of Acquisition of the Project shall be evidenced by the filing with the Depositary of the certificate of the Company Representative required by the provisions of Section 4. 3 of the Loan Agreement. As soon as practicable after, and in any event within 60 days from, the Depositary ' s receipt of the certificate referred to in the preceding sentence, any balance remaining in the Project Fund (other than the amounts retained by the Depositary in accordance with the provisions of Sections 4. 3 and 4.4 of the Loan Agreement) shall, without further authorization but with advice to the Au- thority and to the Company of such action, be applied by the Depositary, or paid to the Holder for application, to the prepay- ment of installments of principal on the Bond in the inverse order of maturities in accordance with its terms. Section 12. Alterations of Documents. Alterations and modifications of the Bond, the Note, the Loan Agreement, this Bond Purchase Agreement, the Security Agreement, the Deed of Trust and the Assignment , or of any amendments or supplements hereto or thereto, may be made only with the written consent of the Au- 12.