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1S <br />this Section, however, shall limit (a) the Company's liability to account fox Net Cash <br />Proceeds not applied in accordance with this Agreement, or (b) any liability for fi-aud on <br />the part of any Company official, employee or agent. <br />SECTION 4 <br />4.1. Notice of ~o~n Losses. (a) At any tune the Company declares the <br />principal of any Program Load due and payable in full after a default pursuant to the <br />terms of that Program Loan, the Company will give notice of the default and acceleration <br />to the, Banks and the County. The notice shall specify (i) the Program Loan that is in <br />default, and' the nature of the default, (ii) the amount of the resulting Loan Loss, (iii) any <br />collection costs that have been incurred. and that aze included in such Loan Loss, (iv) the <br />amount to be paid by the County far deposit in the Company Loan Loss Account with <br />respect to such Loan Loss (along with directions for making such payment), (v) the <br />amount of the resulting Uncovered Loan Loss, and (vi) the dollaz value of .each Bank's <br />Percentage Share of the resulting Uncovered Loan Loss. <br />(b) If additional collection efforts with respect to an accelerated Program Loan <br />produce additional Loan Losses with respect to that Program Loan, the Company shall <br />send notice to the Banks and the County (but not more frequently than monthly) of each <br />additional Loan Loss in substantially the same form as the notice provided for in <br />subsection (a) above. <br />4.z. e a After receipt of a notice of a Loan <br />Loss under Section 4.1(a) or 4.1(b), the County shall make a payment from the Loan Loss <br />Reserve to the Company for deposit in the Company Loan Lass Account as provided in <br />Section 2.02 of the Support Agreement. Any amounts so deposited from tune to time in <br />the Company Laan Loss Account shall constitute Net Cash Proceeds in the month such <br />funds become readily available funds to the Company. <br />4.3. Proratement amo ~ Bank of U covered Loan LQSSes. On any date that <br />the Company notifies the Banks of a Loan Loss, the outstanding principal amount of the <br />Note payable to each Bank shall be reduced by the dollar value of such Bank's Percentage <br />Share of the resulting Uncovered Loan Loss, and the amount of accrued unpaid interest <br />on each Note shall be reduced by the amount of accrued unpaid interest attributable to <br />that amount of principal. <br />4.4. Recove of Loan LQ~ses. If the Company recovers funds in connection <br />with any Program Loan with respect to which the Company has reported a Loan Loss, the <br />Company shall pay such funds (a) first to the County, to the extent of 30% of the <br />