1. MIDA Bond Hospice of Red River Valley
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1. MIDA Bond Hospice of Red River Valley
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<br />(d) In the event of a transfer by the Trustee of funds from the Reserve Fund to the <br />Bond Fund, pursuant to Section 6.3 of the Indenture, due to a failure by the Corporation to <br />make Basic Payments in the amounts or at the time required under Section 4.02(a) or (b) <br />above, the Corporation shall restore the Reserve Fund to its Reserve Requirement by making <br />additional Basic Payments on or before the first Business Day of the sixth (6th) month next <br />succeeding the month in which the funds are transferred from the Reserve Fund to the Bond <br />Fund pursuant to Section 6.3 of the Indenture. If, for any other reason, the balance in the <br />Reserve Fund is less than the Reserve Requirement, the Corporation shall immediately pay <br />to the Trustee Basic Payments in an amount sufficient to restore the Reserve Fund to its <br />Reserve Requirement. <br /> <br />All Basic Payments shall be made directly to the Trustee at its principal office or at such <br />other office agreed to by the Trustee, for the account of the Issuer. <br /> <br />Overdue Basic Payments shall bear interest at the rate then borne by the Bonds, payable to <br />the Trustee for the account of the Issuer. <br /> <br />The Corporation may, pursuant to Section 8.01 hereof, prepay all or part of the Basic <br />Payments required under this Section 4.02. Such prepayments shall not in any way alter or suspend <br />any obligations of the Corporation under this Loan Agreement except to the extent the same result <br />in a credit against Basic Payments as provided in this Section 4.02 or the payment and retirement of <br />Bonds in accordance with the Indenture. <br /> <br />SECTION 4.03. ADDITIONAL PAYMENTS. The Corporation agrees to pay to the Issuer, <br />upon demand, as Additional Payments under this Loan Agreement, all reasonable expenses incurred <br />by the Issuer in relation to the Facilities which are not otherwise required to be paid by the <br />Corporation under the terms of this Loan Agreement, including all permit and license fees required <br />under regulations or codes of the Issuer, provided that the Corporation or the Trustee shall have <br />given written approval to the incurring of such expenses. <br /> <br />The Corporation agrees to pay to the Trustee as Additional Payments under this Loan <br />Agreement, all reasonable fees and expenses incurred by the Trustee with regard to the performance <br />of its duties under this Loan Agreement or the Indenture. The Corporation further agrees to pay as <br />Additional Payments under this Loan Agreement, any amounts required to be rebated to the federal <br />government pursuant to Section 7.3 of the Indenture and any expenses incurred by the Trustee in <br />complying with the requirements of Section 7.3 of the Indenture. <br /> <br />SECTION 4.04. CORPORATION'S OBLIGATIONS UNCONDITIONAL. All Basic Payments <br />and Additional Payments and all other payments required ofthe Corporation hereunder, shall be paid <br />without notice or demand and without set off, counterclaim, abatement, deduction, or defense. The <br />Corporation will not suspend or discontinue any payments, and will perform and observe all of its <br />other agreements in this Loan Agreement, and, shall have no power to terminate this Loan <br />Agreement for any cause, including, but not limited to, any acts or circumstances that may constitute <br /> <br />4-2 <br />
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