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12316306v3 <br />-25- <br />purchased or redeemed (otherwise than at the stated maturity thereof or through the operation of <br />such Sinking Fund) and cancelled by the Trustee and not theretofore applied as a credit against <br />such Sinking Fund redemption obligation. Each such Series 2020 Bond so delivered or <br />previously purchased or redeemed shall be credited by the Trustee at 100% of the principal <br />amount thereof on the obligation of the Borrower on such Sinking Fund redemption dates and <br />any excess amount shall be credited on future Sinking Fund redemption obligations in <br />chronological order, and the principal amount of such Series 2020 Bonds to be redeemed by <br />operation of the Sinking Fund shall be accordingly reduced. The Borrower shall on or before the <br />forty-fifth day next preceding each such Sinking Fund redemption date furnish the Trustee with a <br />Certificate of the Authorized Borrower Representative indicating whether or not and to what <br />extent the provisions of clauses (i) and (ii) of this Section are to be availed of with respect to <br />such Sinking Fund payment. <br />Notwithstanding any other provision hereof or of the Loan Agreement, the Sinking Fund <br />shall be established and maintained by the Trustee as a separate subaccount of the Bond Fund. <br />[The remainder of this page is intentionally left blank.]