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redemption on such due date, by causing notice to be given as provided in Section 3.03 hereof, <br />Term Bonds of the Series and maturity for which such Amortization Installment was established <br />(except in the case of Term Bonds maturing on an Amortization Installment date) in such amount <br />as shall be necessary to complete the retirement of the unsatisfied balance of such Amortization <br />Installment. The Issuer shall pay out of the Bond Amortization Account and the Interest Account <br />to the respective Paying Agents, on or before the day preceding such redemption date (or maturity <br />date), the amount required for the redemption (or for the payment of such Term Bonds then <br />maturing), and such amount shall be applied by such Paying Agents to such redemption (or <br />payment). <br />(C) Reserve Fund. The Issuer shall deposit into or credit to each subaccount of <br />the Reserve Fund such sum, if any, as will be necessary to immediately restore the funds on deposit <br />therein to an amount equal to the Reserve Fund Requirement therefor including the reinstatement <br />of any Reserve Fund Insurance Policy or Reserve Fund Letter of Credit on deposit therein or the <br />cash replacement thereof. In the event the amounts available for such purpose shall be insufficient <br />to make all payments required by the preceding sentence, the available amount shall be prorated <br />among the various subaccounts in the Reserve Fund in the same proportion that the Reserve Fund <br />Requirement for each subaccount bears to the total Reserve Fund Requirement for all such <br />subaccounts. On or prior to each principal and interest payment date for the Bonds, moneys in <br />each subaccount of the Reserve Fund shall be applied by the Issuer to the payment of the principal <br />of or Redemption Price, if applicable, and interest on the Bonds, which such subaccount relates to, <br />to the extent moneys in the Interest Account, the Principal Account and the Bond Amortization <br />Account shall be insufficient for such purpose. Whenever there shall be surplus moneys in the <br />Reserve Fund by reason of a decrease in the Reserve Fund Requirement or as a result of a deposit <br />therein of a Reserve Account Insurance Policy and/or a Reserve Account Letter of Credit, such <br />surplus moneys shall be deposited by the Issuer into the Principal Account, or such other <br />appropriate fund or account of the Issuer or used to pay or provide for necessary rebate through <br />the Rebate Fund or to pay the premium on the Reserve Fund Insurance Policy, provided such <br />deposit to such other fund or account shall not adversely affect the exclusion from gross income <br />of interest on the Bonds for federal income tax purposes. <br />Upon the issuance of any Series of Bonds, under the terms, limitations and conditions as <br />herein provided, the Issuer shall provide for the terms of funding of a subaccount in the Reserve <br />Fund, if required. Such separate subaccount may be funded in such amount, if any, as the Issuer <br />deems appropriate by Supplemental Resolution. <br />Whenever moneys on deposit in a subaccount of the Reserve Fund, together with the other <br />available amounts in the Debt Service Fund, are sufficient to fully pay all Outstanding Bonds <br />(including principal and interest thereon) of the series secured by such subaccount in accordance <br />with their terms, the funds on deposit in such subaccount of the Reserve Fund shall be applied to <br />the payment of such Bonds. <br />Notwithstanding the foregoing provisions, in lieu of the required deposits into a subaccount <br />of the Reserve Fund, the Issuer may, at its sole option and discretion, cause to be deposited a <br />Reserve Fund Insurance Policy and/or Reserve Fund Letter of Credit in an amount equal to the <br />difference between the Reserve Fund Requirement applicable thereto and the sums, if any, <br />remaining on deposit in such subaccount of the Reserve Fund after the deposit of such Reserve <br />Fund Insurance Policy and/or Reserve Fund Letter of Credit. Such Reserve Fund Insurance Policy <br />and/or Reserve Fund Letter of Credit shall be payable to the Paying Agent for such Series (upon <br />SCHEDULE VI-4 <br /> <br />