Laserfiche WebLink
(i) promptly fix a date for payment of such Certificates from moneys drawn or <br />paid under the Credit Facility securing such Certificates, which date shall be as soon as <br />practicable and in an~ even ~ i icr :~~ _li. expiration date of such Credit Facility; <br />~iij pr~mptly diaw upon or oen~and payment under such Insurance Policy in an <br />amount equal to the lesser of: <br />(I) the full amount available to be drawn under such Credit Facility; or <br />(II) the amount needed to pay all amounts to be due with respect to <br />such Certificates through the date fixed for payment thereof; and <br />(iii) apply the amount so drawn or paid to the payment of such Certificates on <br />the date fixed for payment thereof; and <br />(b) if the Credit Facility provides that the related Credit Provider shall have the option of <br />either paying the principal and interest owing on the related Certificates in connection with such <br />acceleration (herein called the "Acceleration Option") or keeping the related Certificates <br />outstanding and paying the scheduled principal of and interest thereon as the same become due in <br />accordance with their stated due dates (without regard to such acceleration), the Trustee shall: <br />(i) until such time as the related Credit Provider shall exercise its Acceleration <br />Option, continue to demand payment under the related Credit Facility of amounts <br />sufficient to pay when due the scheduled principal of and interest on the related <br />Certificates as the same become due in accordance with their stated due dates (without <br />regard to such acceleration); and <br />(ii) as such time as the related Credit Provider shall have exercised its ~ <br />Acceleration Option: <br />(I) promptly fix a date for payment of all amounts owing under the <br />related Certificates from moneys drawn or paid under the Credit Facility <br />securing such Certificates, which date shall be as soon as practicable and in any <br />event prior to the expiration date of such Credit Facility; <br />(II) promptly draw upon or demand payment under such Credit <br />Facility in an amount equal to the lesser of the full amount available to be drawn <br />under such Credit Facility, or the amount needed to pay all amounts to be due <br />with respect to such Certificates through the date fixed for payment thereof; and <br />(III) apply the amount so drawn or paid to the payment of such <br />Certificates on the date fixed for payment thereof; <br />(4) the Trustee shall, by appropriate proceedings, enforce its right to receive any Appropriated <br />Financing Payments not theretofore paid by the County to the Trustee, and foreclose upon the Mortgage and <br />the Security; <br />(5) all moneys held by the Trustee in any Fund or account established under the Agreement (other <br />than moneys held in the Rebate Fund) and all proceeds derived from any enforcement action taken pursuant to <br />pazagraph 4 above shall be applied by the Trustee as follows: <br />(a) first, to the payment of the fees and expenses of the Trustee (including <br />without limitation, Attorney's Fees) in foreclosing upon the Mortgage and the Security, <br />enforcing its rights and performing its duties hereunder and under the Mortgage, ~ <br />including without limitation the fees and expenses of any Rebate Analyst retained by the <br />Trustee as provided below; <br />