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SCHEDULE VI <br />FLOW OF FUNDS <br />Set forth below is Section 4.05 of the Master Resolution as of the Effective Date. All capitalized <br />terms used below in this Schedule VI have the meanings assigned to such terms in the Master <br />Resolution. All section references made below in this Schedule VI refer to sections in the Master <br />Resolution. <br />Section 4.05. Flow of Funds. <br />(A) Revenues. The Issuer shall deposit all Gross Revenues into the Revenue <br />Fund, promptly upon the receipt thereof. On or before the last day of each month, commencing <br />with the month in which delivery of the Bonds shall be made to the purchasers thereof, the moneys <br />in the Revenue Fund shall be deposited or credited in the following manner and in the following <br />order of priority: <br />(1) Operation and Maintenance. The Issuer shall deposit into or credit <br />to the Operation and Maintenance Fund such sums as are necessary to pay <br />Operating Expenses for the ensuing month. Amounts in the Operation and <br />Maintenance Fund shall be paid out from time to time by the Issuer for reasonable <br />and necessary Operating Expenses; provided, however, that no such payment shall <br />be made unless the provisions of Section 5.03 hereof in regard to the current Annual <br />Budget are complied with. <br />(2) Debt Service Fund. Next, the Issuer shall deposit into or credit to <br />the Debt Service Fund such sums as are described in Section 4.05(B) hereof. <br />(3) Reserve Fund. Next, the Issuer shall deposit into or credit to the <br />Reserve Fund such sums as are described in Section 4.05(C) hereof. <br />(4) Renewal and Replacement Fund. Next, the Issuer shall deposit into <br />or credit to the Renewal and Replacement Fund such sums as shall be sufficient to <br />pay one-twelfth (1/12) of the Renewal and Replacement Fund Requirement until <br />the balance on deposit in the Renewal and Replacement Fund equals the Renewal <br />and Replacement Fund Requirement. If the balance on deposit in the Renewal and <br />Replacement Fund exceeds the Renewal and Replacement Fund Requirement such <br />excess amount shall be transferred by the Issuer from the Renewal and Replacement <br />Fund and deposited into the Revenue Fund. The moneys in the Renewal and <br />Replacement Fund shall be applied by the Issuer for the purpose of paying the cost <br />of extensions, improvements or additions to, or the replacement or renewal of <br />capital assets of, the System, or extraordinary repairs of the System; provided, <br />however, that on or prior to each principal and interest payment date for the Bonds <br />(in no event earlier than the fifteenth day of the month next preceding such payment <br />date), moneys in the Renewal and Replacement Fund shall be applied for the <br />payment into the Interest Account in the Principal Account and the Bond <br />Amortization Account when the moneys therein are insufficient to pay the principal <br />of and interest on the Bonds coming due, but only to the extent moneys available <br />SCHEDULE VI-1 <br /> <br />