Agenda - 03-02-2006-8bTA - Laserfiche WebLink

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referenced in Section 1.04{e), and will deposit in the proper account all other amounts paid to it for deposit in the Payment Fund. (b) The Trustee ~~~ill pay the principal and interest with respect to Certificates from the Principal Account and the Interest Account, respectively, as the same become due. (c) The TrLtstee will determine whether any amounts are on deposit with the Trustee that are to be credited against the amount of the County's Installment Payments at the times and in the manner provided for in [Section 2.1(b)] of the Financing Contract. (d} On the second Business Day preceding each Certificate Payment Date, the Trustee will first set aside an amount sufficient to pay the interest with respect to the Certificates becoming due and pa}cable on such Certificate Payment Date, and then an amount sufficient to pay the principal ~~•ith respect to the Certificates becoming due and payable on such Payment Date, and v~Till transfer on the Certificate Payment Date the amounts due to DTC as registered owner of the Certificates. (e} If the amount on deposit in the Principal Account or the Interest Account is insufficient for the purposes thereof t~vo Business Days before any Certificate Payment Date, the Trustee ~~rill notify the County of the amount of such insufficiency and the Trustee will transfer to such Accounts such amounts as may be necessary therefor from the Prepayment Account. If the amount on deposit in the Interest Account on any Certificate Payment Date exceeds the amount payable on account of interest on the Certificates on such date, the Trustee will, as directed by a County Representative, retain such excess in the Interest Account or transfer such excess to the Principal Account to be credited against subsequent required deposits thereto. If the amount on deposit in the Principal Account on any [September 1] exceeds the amount required on such date to pay principal of Certificates coming due on such date (whether by reason of maturity or mandatory redemption}, then the Trustee will, as directed by a County Representati~Te, retain such excess in the Principal Account or transfer such excess to the Interest Account to be credited against subsequent required deposits thereto. (f} The Trustee will deposit in the Prepayment Account of the Payment Fund all amounts paid to it for deposit therein, and, except as provided in subsection {g) below, will use such amounts within 12 months of their deposit therein as directed by a County Representative (1) to pay Certificates called for 93 362v2 16