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<br />. <br />. <br /> <br />I <br /> <br />. <br /> <br />. <br /> <br />Section 4.04. Deposit and Investment of Moneys in Funds. All moneys <br />held in any of the funds or accounts established pursuant to this Resolution <br />shall be deposited in demand or time deposits (which may be represented by <br />certificates of deposit) in any bank or trust company authorized to accept <br />deposits of trust funds (including the banking department of the Bank) and, as <br />and to the extent required by law, shall be secured at all times as trust <br />funds, or in lieu thereof may be invested by the Agency in Permitted <br />Investments maturing prior to the date on which such m.oneys are estimated to <br />be required to be paid out hereunder. All interest or gain received on or <br />prior to December 1, 1982, shall be deposited in the Note Fund and shall be <br />used for the payment of interest due on the Note on and prior to Decenber 1, <br />1982. All interest or gain received after December 1, 1982, shall be <br />deposited in the Note Fund and used for the payment of principal and interest <br />on the Note when due in accordance with the terms .of Section 2.02 hereof or by <br />prepayment in acc.ordance with Section 2.03 hereof. Amounts in excess of the <br />amounts required for use in accordance with Section 2.02 and 2.03 may be <br />withdrawn by the Agency and deposited in its general funds so long as there is <br />not an event of default hereunder. <br /> <br />Section 4.05. Assignment to Noteholder. The Agency hereby transfers, <br />assigns and sets over to the Noteholder without recourse all of the Revenues <br />and any and all rights, privileges and obligations it has under the Agreement, <br />the Deed of Trust and the Promissory Note including, without limitation, the <br />right to collect and receive directly all .of the Revenues, and any Revenues <br />collected or received by the Agency shall be deemed t.o be held, and to have <br />been collected or received, by the Agency as the agent of the Noteh.older.. and <br />if received by the Agency, shall forthwith be paid by the Agency. The <br />assignment under this Section shall not be in contravention .of any grant or <br />assignment pursuant to the Purchase Agreement, the Pledge Agreement, the <br />Agreement or the Collateral Assignments. <br /> <br />11 <br />