2  Insurance Proceeds Account

2.1  Each of the Issuer and the Authority (together the Account Holders) hereby appoint [♦] as the Account Bank.

2.2  The Account Bank has opened on its books, at its office at [♦], an account in the joint names of the Account Holders designated the Authority Insurance Proceeds Account (the Account).

2.3  The Account Bank shall, save as otherwise provided herein, maintain the Account in accordance with its usual practices, provided that, in the event of any conflict between the provisions of this Deed and any applicable mandate, the provisions of this Deed shall prevail.

2.4  Notwithstanding anything else in this Deed, no person shall request or require that any withdrawal be made from the Account if it would cause the Account to become overdrawn and to the extent that any withdrawal (if made in full) would cause the Account to become so overdrawn, such withdrawal shall be made in part in as great an amount as possible as will not result in such Account becoming overdrawn.

2.5  Where any withdrawal required under this Deed cannot be made in its entirety, the Account Bank shall promptly notify both of the Account Holders of that fact and provide details of the payment not made, the date on which it should have been made and the amount unpaid.

2.6  Each amount from time to time standing to the credit of the Account shall bear interest at the rate agreed between the Account Bank and the Account Holders from time to time, such interest to be credited to the Account in respect of which such interest has accrued in accordance with the relevant mandate.

2.7  Subject to and in accordance with the provisions of this Deed, including without limitation clause 4 (General Provisions for the Account), the Account Bank agrees that it shall make such payments out of the amount standing to the credit of the Account as may from time to time be requested by the Account Holders jointly subject to the restrictions as contained in this Deed.  Save as otherwise provided in this Deed, no party shall be entitled to require the Account Bank to make, and the Account Bank shall not make, any payment out of the amount standing to the credit of the Account.

2.8  Subject to clause 8.6 (The Account Bank), the Account Holders shall maintain the Account with the Account Bank until the termination of the Project Agreement.  If so instructed after the termination of the Project Agreement, the Account Bank shall, at the sole cost and expense of the Issuer, terminate the Account in accordance with the relevant instructions and pay any amount standing to the credit of such accounts as the Account Holders may elect in accordance with clause 4.1 (General Provisions for the Account).