RES 94045A - Laserfiche WebLink

thereof and hereof and the principal of such Bond at the stated maturity thereof and [o institute suit for the enforcement of any such payment in accordance with the provisions of this Tmst Agreement and such rights shall not be impaired without the wnsent of such Owner. Section 6.09. Application of Funds Upon Default. All monies received by the Tmstee or by any receiver pursuant to any right given or action taken under the provisions of this Article Vl or under the provisions of Article VII of the Installment Purchase Contracts shall, after payment of the reasonable costs and fees of, and the reasonable expenses, liabdi[ies and advances incurred or made by the Trustee, be deposited in the Payment Fund and all moneys so deposited during the continuance of an Event of Default (other than moneys for the payment of Bonds which have previously matured or otherwise become payable prior to such Event of Default or for the payment of interest due prior to such Event of Default), together with all moneys in the Funds tttaintalned by the Tmstee under Article III hereof, shall be applied as follows: (a) Unless the principal of all Bonds shall have become or shall have been declared due and payable, all such moneys shall be applied: First: To the payment to the Persons entitled thereto of al] installments of interest then due on the Bonds, with interest on overdue installments, if lawful, at the rate per annum borne by the Bonds, in the order of the maturity of the installments of such interest, and, if the amount available shall no[ 6e sufficient to pay in full any particular installment of interest, [hen to the payment ratably according to the amounts due on such installment, to the Persons entitled thereto without any discrimination or privilege; Second: To the payment to the Persons entitled thereto of the unpaid principal of any of the Bonds which shall have become due (other than Bonds called for redemption for the payment of which moneys are held pursuant to the provisions of this Tmst Agreement), with interest on such Bonds at their rate from the respective dates upon which they became due, in the order of their due dates, and, if the amount available shall not be sufficient to pay in full Bonds due on any particular date, together with such interest, then to the payment ratably, according to the amount of principal and interest due on such date, to the Persons entitled thereto without any discrimination or privilege; and Third: To [Le payment of amounts, if any, payable to the United States Treasury in respect of rebate (b) If the principal of all the Bonds shall have become due or shall have been declared due and payable, all such moneys shall be applied: First: To the payment of the principal and interest then due and unpaid upon the Bonds, with interest on overdue interest and principal, as aforesaid, without preference or priority over interest or of interest over principal or of any installment of interest over any other installment of interest, or of any Bonds over any other Bonds, ratably, according to the amounts due 25 ANM]UIZ.IAI