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1 <br /> <br />3 <br /> <br />5 <br /> <br /> 7 <br /> <br /> 9 <br /> <br /> 11 <br /> <br /> 13 <br /> <br /> 15 <br /> <br /> 17 <br /> <br />19 <br /> <br />21 <br /> <br />23 <br /> <br />25 <br /> <br />27 <br /> <br />29 <br /> <br />31 <br /> <br />33 <br /> <br />35 <br /> <br />37 <br /> <br />39 <br /> <br />41 <br /> <br />43 <br /> <br />45 <br /> <br />47 <br /> <br />49 <br /> <br />Section 6.3 hereof (regarding expulsion) and Section 7.1 <br />hereof (regarding abatement) each Participant agrees to pay <br />to the Authority, its successors and assigns, as a portion <br />of its annual Participation Premium payment for the <br />Coverage, Basic Premium in the amounts specified in <br />Exhibit A, to be due and payable on the Basic Premium <br />Payment Date, which correspond to amounts sufficient in <br />both time and amount to pay when due such Participant's <br />Allocable Proportion of the annual principal of (whether at <br />maturity or by mandatory sinking fund redemption) and <br />interest on the Bonds. <br /> <br /> (2) Credits. Notwithstanding the foregoing, any <br />amount held in a Participant's account of the Principal and <br />Interest Fund on any Basic Premium Payment Date (other than <br />amounts required for payment of pas~ due principa~ of or <br />interest on the Bonds not presented for payment) shall be <br />credited towards the Basic Premium of such Participant then <br />due and payable and no Basic Premium need be paid by a <br />Participant on any Basic Premium Payment Date if the <br />amounts then held in the Participant's account of the <br />Principal and Interest Fund are at least equal to the Basic <br />Premium then required to be paid. <br /> <br /> (3) Effect of Prepayment. In the event that a <br />Participant prepays or provides for the payment of all of <br />its remaining Basic Premium pursuant to Article XI hereof <br />such Participant's obligations under this Agreement to pay <br />further Basic Premium shall thereupon cease and terminate. <br /> <br />(c) Supplemental Basic Premium. <br /> <br /> (1) Time and Amount. Notwithstanding any provision <br />of this Agreement to the contrary, no provision of this <br />Agreement relating to Supplemental Basic Premium shall be <br />effective prior to the Closing Date of the first Series of <br />Bonds. Subject to the provisions of Article XI hereof <br />(regarding prepayment of Basic Premium and payment of <br />Termination Premium), Section 6.2 hereof (regarding <br />withdrawal), Section 6.3 hereof (regarding expulsion) and <br />Section 7.1 hereof (regarding abatement), each Participant <br />agrees to pay the Authority, its successors and assigns, as <br />a portion of its annual Participation Premium for Coverage, <br />Supplemental Basic Premium, to be due and payable on the <br />Basic Premium Payment Date. <br /> <br /> (2) Credits. Notwithstanding the preceding sentence, <br />no Participant shall be obligated to pay Supplemental Basic <br />Premium in excess of its Allocable Proportion of the amount <br />by which the amount held in the Debt Service Reserve Fund <br /> <br /> 22 <br />2658002/2 <br /> <br /> <br />