Common use of Amendments to Article V of the Original Agreement Clause in Contracts

Amendments to Article V of the Original Agreement. (a) Subsection 5.1(a) of the Original Agreement is hereby amended to read as follows: (a) The Company will repay the loan made to it under Section 4.1 as follows: Before the close of business (local time at the principal corporate office of the Registrar) on the day before each day on which any payment of either principal of or interest on the Bonds, or both, shall become due (whether at maturity, or upon redemption or acceleration or otherwise), the Company will pay, in immediately available funds, an amount which, together with other moneys held by the Tender Agent or by the Trustee under the Indenture and available therefor, will enable the Registrar to make such payment in full in a timely manner. If such day on which any payment shall become due is not a Business Day, then the payment required by this Section shall be made on or before the preceding Business Day. If the Company defaults in any payment required by this Section, the Company will pay interest (to the extent allowed by law) on such amount until paid at the rate provided for in the Bonds." (b) The last paragraph of Section 5.1 of the Original Agreement is hereby amended to read as follows: "All amounts payable under this Section by the Company are assigned by the Issuer to the Trustee pursuant to the Indenture for the benefit of the Bondholders and the Bond Insurer. The Company consents to such assignment. Accordingly, the Company will pay directly to the Registrar at its principal corporate trust office all payments payable by the Company pursuant to this Section." (c) There is hereby added a new paragraph to the end of Section 5.1 of the Original Agreement to read as follows: "The Company agrees to make all payments when due on the First Mortgage Bonds. If for any reason amounts paid to the Trustee on the First Mortgage Bonds, together with other moneys held by the Trustee and available for that purpose, would not be sufficient to make the corresponding payments of principal of, premium, if any, and interest on the Bonds corresponding to such First Mortgage Bonds when such payments become due, the Company will pay the amounts required from time to time to make up any such deficiency." (d) A new Subsection 5.2(d) is hereby added to the end of Section 5.2 of the Original Agreement to read as follows: (d) Notwithstanding any provision herein to the contrary, payment to the Bond Insurer of all amounts due under the Insurance Agreement pursuant to the terms of the Insurance Agreement." (e) Section 5.3 of the Original Agreement is hereby amended to read as follows: