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VW <br />,a/ <br />(b) The Lessee may remove such items of Lessor's machinery <br />and equipment from the Project and sell, trade in or exchange <br />them (in whole or in part) on behalf of the Lessor, either to <br />itself or to another, or scrap them (in whole or in part), without <br />being required to substitute and install in the Project other items <br />of machinery or equipment in lieu thereof, provided (i) that in <br />the case of the sale of any such machinery or equipment to any- <br />one other than itself or in case of the scrapping thereof, the <br />Lessee pays into the Bond Fund the proceeds from such sale or <br />the scrap value thereof, as the case may be, (ii) that in the case <br />of the trade in of such machinery or equipment for other machinery <br />or equipment not to be installed in the Project, the Lessee prays <br />into the Bond Fund t1—_ amount of the credit received by it on such <br />trade in, and (iii) that in the case of the sale of any such machinery <br />or equipment to the Lessee, the Lessee pays into 'the Bond Fund an <br />amount equal to the original cost thereof .less depreciation at rates <br />calculated in accordance with generally accepted accounting <br />practice. <br />In any case where the Lessee purchases, installs and substitutes in the <br />Project any item of machinery or equipment, the Lessee may, in lieu of purchasing <br />and installing said items of machinery and equipment itself, advance to the Lessor <br />the funds necessary therefor, whereupon the Lessor will purchase and install such <br />machinery or equipment in the Project. <br />The Lessee will promptly report such removals, substitutions, sales and <br />other dispositions of items of Lessor's machinery and equipment to the Trustee, <br />will pay to the Trustee such amounts as are required by the provisions of the preceding <br />subsection (b) to be paid into the Bond Fund promptly after the sale,trade-in or scrapping <br />