Pledge and Assignment: Revenue Fund

(A)Subject only to the provisions of this Indenture permitting the application thereof for or to the purposes and on the terms and conditions set forth herein, there are hereby pledged to secure the payment of the principal of and interest on the Bonds in accordance with their terms and the provisions of this Indenture, all of the Hotel Room Taxes, all of the Revenues (except to the extent of the Rebate Requirement referred to in§ 5.08), and any other amounts held in any fund or account established pursuant to this Indenture (except the Rebate Fund and the Construction Fund). Said pledge shall constitute a first lien on and security interest in such assets and shall attach, be perfected and be valid and binding from and after delivery by the Registrar of the 1997 Series A Bonds, without any physical delivery thereof or further act.

(B)The Government shall deposit all Revenues upon the receipt thereof in a special fund designated as the “Revenue Fund”, which the Depositary shall establish and maintain and hold in trust, except that all interest and other profit from the investment of moneys in the Construction Fund shall be retained therein. The Trustee and the Depositary shall be entitled to and shall collect and receive all of the Revenues, and any Revenues collected or received by the Government shall be deemed to be held, and to have been collected or received, by the Government as the agent of the Trustee and Depositary and shall forthwith be paid by the Government to the Depositary.

(C)

(1)The Trustee shall establish, maintain and hold in trust the following additional funds:

(a)the Bond Fund; COL4/6/2022 CH. 22 GENERAL FISCAL POLICIES AND CONTROLS

(b)the Bond Reserve Fund;

(c)the Bond Expense Fund; and

(d)the Rebate Fund.

(D)All moneys at any time deposited with the Trustee or the Depositary, as the case may be, shall be held by the Trustee or the Depositary, as the case may be in trust for the benefit of the Holders at any time of the Bonds (and, to the extent of the payment of any of the Bonds from amounts received under a Credit Facility, for the benefit of the applicable Credit Provider, subordinate in all respects to the Holders of all of the Bonds), and the Government shall have no beneficial right or interest in any of such moneys; except as in this Indenture provided. All Revenues so deposited shall be held, disbursed, allocated and applied only as provided in this Indenture.