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83--t30~b~ to cash a sufficient amount of such investments whenever the cash balance in-the Construction Fund is insufficient to pay a requisition when presented or whenever the cash balance in the Bond Fund is insufficient to pay the principal of and premium, if any, and interest on the Bonds when due. Issuer covenants and certifies to-and for the benefit of the pur- chasers and hoidens of the Bonds from time to time Outstand- ing that so long as any o£ the Bonds remain Outstanding, moneys on deposit in any £und or account in connection with the Bonds, whether or not such moneys were derived from the proceeds of the sale of the Bonds or from any other sources, will not be used in a manner which will cause the Bonds to be classified as arbitrage bonds within the meaning of Section 103(c)(2} of the Code. Pursuant to such covenant, Issuer obligates itself to comply throughout the term of the issue of the Bonds with the requirements of Section 103(c} of the Code, and any regulations promulgated thereunder. ARTICLE VII SUBORDINATION TO RIGHTS OF COMPANY Section 7.01. Subordination. to Rights of Company. Prior to the occurrence of an Event of Default under the Agreement, this Indenture and the rights and privileges hereunder of Trustee and the holders of the Bonds are speci- fically made subject and subordinate to the rights and privileges of Company set forth in the Agreement. Trustee agrees that it shall execute and deliver any instrument necessary or appropriate at any time to confirm, evidence or enable Company to enjoy such rights and privileges, including without limitation those referred to in Section 7.02 hereof. Section 7.02. Granting of Rights in and to Project. Reference is made to the provisions of the Agreement, includ- ing without limitation Sections 7.6 and 7.7 thereof, whereby Issuer and Company have reserved the right to grant rights in and to certain portions of the Project and to release certain lands from the Project upon compliance with the terms and conditions of the Agreement. Trustee agrees to perform its obligations as set forth in the above-referenced sections. Section 7.03. Release of Equipment Forming a Part of Project. Reference is made to the provisions of the Agree- ment, whereby Company may withdraw certain items of the Project Building forming a part of the Project upon substitu- tion of other property in conformity with the terms and conditions of the Agreement. -26-