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-30- <br />released from the Reserve Account (upon which calculation the Trustee may <br />conclusively rely), the Trustee shall transfer such funds from the Reserve Account to the <br />Successor Agency to be applied in accordance with the Law. The Trustee shall comply <br />with all documentation relating to a Qualified Reserve Account Credit Instrument as shall <br />be required to maintain such Qualified Reserve Account Credit Instrument in full force <br />and effect and as shall be required to receive payments thereunder in the event and to <br />the extent required to make any payment when and as required under this subsection <br />(c). Upon the expiration of any Qualified Reserve Account Credit Instrument, the <br />SuccessorAgency shall either(i) replace such Qualified Reserve Account Credit <br />Instrument with a new Qualified Reserve Account Credit Instrument, or (ii) deposit or <br />cause to be deposited with the Trustee an amount of funds equal to the Reserve <br />Requirement, to be derived from the first legally available Tax Revenues. If the Reserve <br />Requirement is being maintained partially in cash and partially with a Qualified Reserve <br />Account Credit Instrument, the cash shall be first used to meet any deficiency which may <br />exist from time to time in the Interest Account or the Principal Account for the purpose of <br />making payments required pursuant to Sections 4.03(a) or 4.03(b) of this Indenture. If <br />the Reserve Requirement is being maintained with two or more Qualified Reserve <br />Account Credit Instruments, any draw to meet a deficiency which may exist from time to <br />time in the Interest Account or the Principal Account for the purpose of making payments <br />required pursuant to Sections 4.03(a),4.03(b)or 4.03(c)of this Indenture shall be pro- <br />rata with respectto each such instrument. <br />The Reserve Account may be maintained in the form of one or more separate <br />sub-accounts which are established for the purpose of holding the proceeds of separate <br />issues of the Bonds and any Parity Debt in conformity with applicable provisions of the <br />Code to the extent directed by the Successor Agency in writing to the Trustee. <br />Additionally, the Successor Agency may, in its discretion, combine amounts on deposit <br />in the Reserve Account and on deposit in any reserve account relating to any (but not <br />necessarily all) Parity Debt in order to maintain a combined reserve account for the <br />Bonds and any (but not necessarily all) Parity Debt. <br />(e) Redemption Account. On or before the Business Day preceding any date <br />on which Bonds are to be redeemed pursuant to Section 2.03(a), other than mandatory <br />Sinking Account redemption of Term Bonds, the Trustee shall withdraw from the Debt <br />Service Fund any amount transferred by the Successor Agency pursuant to Section <br />2.03(a) for deposit in the Redemption Account, such amount being the amount required <br />to pay the principal of and premium, if any, on the Bonds to be redeemed on such date <br />pursuant to Section 2.03(a). All moneys in the Redemption Account shall be used and <br />withdrawn by the Trustee solely for the purpose of paying the principal of and premium, <br />if any, on the Bonds to be redeemed pursuant to Section 2.03(a) on the date set for such <br />redemption, other than mandatory Sinking Account redemption of Term Bonds. Interest <br />due on Bonds to be redeemed on the date set for redemption shall, if applicable, be paid <br />from funds available therefor in the Interest Account.