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<br />-32- <br /> <br />(ii) principal coming due and payable on the Bonds and any Parity Debt on <br />the next succeeding September 1 (or such lesser or greater amount as is <br />necessary to ensure that the principal of the Bonds and any Parity Debt is paid on <br />a timely basis on each September 1); and <br /> <br />(B) If Tax Revenues received on January 2 are insufficient, for distribution on each <br />June 1 (commencing June 1, 2020), if the Successor Agency determines it is necessary <br />to do so to ensure receiving sufficient tax increment revenues from the Project Area to pay <br />debt service on the Bonds and any Parity Debt, amounts required to pay debt service on <br />the Bonds and any Parity Debt on the next succeeding September 1. <br /> <br />(C) if the Successor Agency determines it is necessary to ensure timely payment <br />of debt service on the Bonds and any Parity Debt, the Successor Agency may also collect <br />on each January 2 or June 1, as necessary, a reserve, to be held in the Debt Service <br />Fund, for the payment of debt service on the Bonds and any Parity Debt on March 1 and <br />September 1 of the next succeeding calendar year; and <br /> <br />(D) any amounts required to replenish the Reserve Account and any other reserve <br />account established under any Parity Debt Instrument and any amounts due and owing to <br />the 2018 Reserve Insurer or any other issuer of a Qualified Reserve Credit Instrument <br />hereunder. <br /> <br />(E) if any amounts then due and payable to the 2018 Reserve Insurer under this <br />Indenture are not included on any current Recognized Obligation Payment Schedule and <br />the Successor Agency is then legally permitted to amend such Recognized Obligation <br />Payment Schedule, the Successor Agency will submit to the Oversight Board and the <br />State Department of Finance a request to amend such Recognized Obligation Payment <br />Schedule to include such amounts then due and payable to the 2018 Reserve Insurer. <br /> <br />(F) the Successor Agency will not submit to the Oversight Board and the State <br />Department of Finance a request for the final amendment permitted for its Last and Final <br />Recognized Obligation Payment Schedule pursuant to Section 34191.6 of the Dissolution <br />Act without the prior written consent of the 2018 Reserve Insurer, unless all amounts that <br />could become due and payable to the 2018 Reserve Insurer under the Indenture would <br />be included as a line item on the Last and Final Recognized Obligation Payment Schedule <br />following approval of the requested amendment. <br /> <br />(d) Notice of Insufficiency. The Successor Agency further covenants that it will, on or <br />before May 1 and December 1 of each year, file a Notice of Insufficiency with the Alameda County <br />Auditor-Controller if the amount of Tax Revenues projected to be available to the Successor <br />Agency from the Redevelopment Property Tax Trust Fund for transfer to the Redevelopment <br />Obligation Retirement Fund on the upcoming January 2 is projected to be insufficient to fully fund <br />all required amounts payable from the Redevelopment Obligation Retirement Fund during the <br />next succeeding March 1 and September 1, to replenish the Reserve Account established <br />hereunder or the reserve accounts established under any Parity Debt Instrument and to pay any <br />Insurer, the 2018 Reserve Insurer and any issuer of any other Qualified Reserve Credit Instrument <br />any amounts owing hereunder. <br /> <br />Section 5.09. [Reserved]. <br /> <br />458