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

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prepayment on their prepayment dates, or (2) to purchase, for cancellation;. Certificates at or below their prepayment price on the next date on which such Certificates maybe prepaid. The Trustee u~•ill transfer any amounts not so used u~•ithin 12 months of their deposit in the Prepayment Account to the Interest Account in the Payment Fund for use on the next Certificate Payment Date to pay interest with respect to the Certificates, and pending such use will invest such funds in Permitted Investments ha~Ting a yield not in excess of the Restricted Yield. Subject to retaining moneys necessary to pay Certificates that have been called for prepayment but not yet presented for payment, the Trustee will use amounts in the Prepayment Account as needed to make transfers to the Interest Account or the Principal Account to the extent the balances therein may be insufficient for the purposes thereof. {g) The Trustee will hold amounts transferred to the Prepayment Account from the Net Proceeds Fund pursuant to Section 4.OG(b} and apply such amounts to the prepayment of Certificates pursuant to Section 3.01(c} as directed by a County Representative. Section 4.06. Net Proceeds Fund. (a) The Trustee will deposit Net Proceeds in the Net Proceeds Fund as provided in [Section 6.2(c)] of the Financing Contract. The Trustee will invest and reinvest all amounts on deposit in the Net Proceeds Fund in Permitted Investments having a yield not in excess of the Restricted Yield, to the extent such amounts are on deposit therein on any date follouTing the later of (1 }the third anniversary of the Closing Date or (2} 30 days from the payment of such Net Proceeds to the County or the Trustee, as applicable. (b) The Trustee hill disburse Net Proceeds for replacement or repair as pro~Tided in [Section G.3(c)] of the Financing Contract, or transfer such proceeds to the Prepayment Account in the Payment Fund for application as provided in Section 4.05(g), in either case as directed by a County Representative as provided in [Section 6.3] of the Financing Contract. The Trustee shall not, however, be required to (but may in its discretion} disburse an~J moneys from the Net Proceeds Fund during the continuation of an Event or Default, except that the Trustee ~~Till make such disbursements if so directed by the Insurer. {c) If the County directs the Trustee to apply amounts on deposit in the Net Proceeds Fund to the prepayment of Certificates pursuant to [Section 6.3(a} or 6.3(b}] of the Financing Contract, the Trustee will provide for such prepayment pursuant to Section 3.01(c} at the earliest practicable date. Pending disbursement for prepayment, the Trustee will hold such amounts in the Net Proceeds Fund and 93 862v2 17