Common use of Bonds Deemed To Have Been Paid Clause in Contracts

Bonds Deemed To Have Been Paid. Any outstanding Bond shall, prior to the maturity or redemption date thereof, be deemed to have been paid within the meaning and with the effect expressed in Section 13.01 if (a) in case said Bonds are to be redeemed on any date prior to their maturity, the Company shall have given to the Trustee in form satisfactory to the Trustee irrevocable instructions to mail, in accordance with the provisions of ARTICLE IV of this Agreement, notice of redemption of such Bonds on said Redemption Date, (b) there shall have been deposited with the Trustee either moneys (insured at all times by the Federal Deposit Insurance Corporation or otherwise collateralized with Government Obligations), in an amount which shall be sufficient, or Government Obligations, the principal of and the interest on which when due, and without any reinvestment thereof, will provide moneys which, together with the moneys, if any, deposited with or held by the Trustee at the same time, shall be sufficient (as verified by a report of an independent certified public accountant), to pay when due the principal or Redemption Price (as applicable) of, and interest due and to become due on, said Bonds on and prior to the Redemption Date or Maturity Date thereof, as the case may be, and (c) in the event any of said Bonds are not to be redeemed within the next succeeding sixty (60) days, the Company shall have given the Trustee in form satisfactory to the Trustee irrevocable instructions to mail, as soon as practicable in the same manner as a notice of redemption is mailed pursuant to ARTICLE IV of this Agreement, a notice to the holders of such Bonds and to the Securities Depository and an Information Service that the deposit required by (b) above has been made with the Trustee and that said Bonds are deemed to have been paid in accordance with this Section and stating such maturity or redemption dates upon which moneys are to be available for the payment of the principal or Redemption Price (as applicable) of said Bonds. Neither the securities nor moneys deposited with the Trustee pursuant to this Section nor principal or interest payments on any such securities shall be withdrawn or used for any purpose other than, and shall be held in trust for, the payment of the principal or Redemption Price (as applicable) of, and interest on said Bonds; provided that any cash received from such principal or interest payments on such obligations deposited with the Trustee, if not then needed for such purpose, shall, to the extent practicable and consistent with the terms of this Agreement and any escrow agreement pertaining thereto, and at the written direction of the Company, be reinvested in Government Obligations maturing at times and in amounts, together with the other moneys and payments with respect to Government Obligations then held by the Trustee pursuant to this Section, sufficient to pay when due the principal or Redemption Price (as applicable) of, and interest to become due on said Bonds on and prior to such Redemption Date or Maturity Date, as the case may be, and interest earned from such reinvestments shall, upon receipt by the Trustee of a written direction of a Company Representative, be paid over to the Company, as received by the Trustee, free and clear of any trust, lien or pledge. Any release under this Section shall be without prejudice to the right of the Trustee to be paid the agreed upon compensation for all services rendered by it under this Agreement and all its reasonable expenses, charges and other disbursements and those of its attorneys, agents and employees, incurred on and about the administration of trusts by this Agreement created and the performance of its powers and duties under this Agreement; provided, however, that the Trustee shall have no right, title or interest in, or lien on, any moneys or securities deposited pursuant to this ARTICLE XIII.

Bonds Deemed To Have Been Paid. Any outstanding (a) If moneys shall have been set aside and held by the Trustee for the payment or redemption of any Bond shall, prior and the payment of the interest thereon to the maturity or redemption date thereof, such Bond shall be deemed to have been paid within the meaning and with the effect provided in Section 10.01. Any Outstanding Bond shall prior to the maturity date or redemption date thereof be deemed to have been paid within the meaning of and with the effect expressed in Section 13.01 10.01 if (ai) in case said Bonds are such Bond is to be redeemed on any date prior to their maturityits maturity date, the Company Community Facilities District shall have given to the Trustee in form satisfactory to the Trustee it irrevocable instructions to mail, on a date in accordance with the provisions of ARTICLE IV of this AgreementSection 4.02, notice of redemption of such Bonds Xxxx on said Redemption Dateredemption date, said notice to be given in accordance with Section 4.02, (bii) there shall have been deposited with the Trustee either moneys (insured at all times by the Federal Deposit Insurance Corporation or otherwise collateralized with Government Obligations), A) money in an amount which that shall be sufficient, or Government Obligations(B) Defeasance Securities, the principal of and the interest on which when due, and without any reinvestment thereof, will provide moneys which, together with the moneysmoney, if any, deposited with or held by the Trustee at the same timetherewith, will provide moneys that shall be sufficient (as verified by a report of an independent certified public accountant), to pay when due the principal or Redemption Price (as applicable) of, and interest due and to become due on, said Bonds on such Bond on and prior to the Redemption Date maturity date or Maturity Date redemption date thereof, as the case may be, and the principal of and premium, if any, on such Bond, and (ciii) in the event any of said Bonds are such Bond is not by its terms subject to be redeemed redemption within the next succeeding sixty (60) 60 days, the Company Community Facilities District shall have given the Trustee Trustee, in form satisfactory to the Trustee it, irrevocable instructions to mail, mail as soon as practicable in the same manner as a notice of redemption is mailed pursuant to ARTICLE IV of this Agreementpracticable, a notice to the holders Owner of such Bonds and to the Securities Depository and an Information Service Bond that the deposit required by clause (bii) above has been made with the Trustee and that said Bonds are such Bond is deemed to have been paid in accordance with this Section and stating such the maturity date or redemption dates date upon which moneys are money is to be available for the payment of the principal or Redemption Price (as applicable) of said Bonds. Neither the securities nor moneys deposited with the Trustee pursuant to this Section nor principal or interest payments on any such securities shall be withdrawn or used for any purpose other thanand premium, and shall be held in trust forif any, the payment of the principal or Redemption Price (as applicable) of, and interest on said Bonds; provided that any cash received from such principal or interest payments on such obligations deposited with the Trustee, if not then needed for such purpose, shall, to the extent practicable and consistent with the terms of this Agreement and any escrow agreement pertaining thereto, and at the written direction of the Company, be reinvested in Government Obligations maturing at times and in amounts, together with the other moneys and payments with respect to Government Obligations then held by the Trustee pursuant to this Section, sufficient to pay when due the principal or Redemption Price (as applicable) of, and interest to become due on said Bonds on and prior to such Redemption Date or Maturity Date, as the case may be, and interest earned from such reinvestments shall, upon receipt by the Trustee of a written direction of a Company Representative, be paid over to the Company, as received by the Trustee, free and clear of any trust, lien or pledge. Any release under this Section shall be without prejudice to the right of the Trustee to be paid the agreed upon compensation for all services rendered by it under this Agreement and all its reasonable expenses, charges and other disbursements and those of its attorneys, agents and employees, incurred on and about the administration of trusts by this Agreement created and the performance of its powers and duties under this Agreement; provided, however, that the Trustee shall have no right, title or interest in, or lien on, any moneys or securities deposited pursuant to this ARTICLE XIIIBond.

Bonds Deemed To Have Been Paid. Any outstanding Bond shall, prior If moneys shall have been set aside and held by the Trustee for the payment or redemption of any Bonds and the interest thereon to the maturity or redemption date thereof, such Bonds shall be deemed to have been paid within the meaning and with the effect provided in Section 10.01 hereof. Any Outstanding Bonds shall prior to the maturity date or redemption date thereof be deemed to have been paid within the meaning of and with the effect expressed in Section 13.01 10.01 hereof if (a) in case said any of such Bonds are to be redeemed on any date prior to their maturitymaturity date, the Company Authority shall have given to the Trustee in form satisfactory to the Trustee it irrevocable instructions to mailgive, on a date in accordance with the provisions of ARTICLE IV of this AgreementSection 4.02 hereof, notice of redemption of such Bonds on said Redemption Dateredemption date, said notice to be given in accordance with Section 4.02 hereof, (b) there shall have been deposited with the Trustee either moneys (insured at all times by the Federal Deposit Insurance Corporation or otherwise collateralized with Government Obligations), i) money in an amount which shall be sufficient, or Government Obligations(ii) Federal Securities that are not subject to redemption other than at the option of the holder thereof, the principal of and the interest on and principal of which when due, and without any reinvestment thereof, paid will provide moneys money which, together with the moneysmoney, if any, any deposited with or held by the Trustee at the same time, shall be sufficient (shall, as verified by a report of an independent certified public accountant), be sufficient to pay when due the principal or Redemption Price (as applicable) of, and interest due and to become due on, said on such Bonds on and prior to the Redemption Date maturity date or Maturity Date redemption date thereof, as the case may be, and the principal of and premium, if any, on such Bonds, (c) in the event any of said such Bonds are not by their terms subject to be redeemed redemption within the next succeeding sixty (60) 60 days, the Company Authority shall have given the Trustee in form satisfactory to the Trustee it irrevocable instructions to mail, give as soon as practicable in the same manner as a notice of redemption is mailed pursuant to ARTICLE IV of this Agreementpracticable, a notice to the holders Owners of such Bonds and to the Securities Depository and an Information Service that the deposit required by clause (b) above has been made with the Trustee and that said Bonds such Bonds, are deemed to have been paid in accordance with this Section and stating such the maturity date or redemption dates date upon which moneys are money is to be available for the payment of the principal or Redemption Price (as applicable) of said Bonds. Neither the securities nor moneys deposited with the Trustee pursuant to this Section nor principal or interest payments on any such securities shall be withdrawn or used for any purpose other thanand premium, and shall be held in trust for, the payment of the principal or Redemption Price (as applicable) ofif any, and interest on said such Bonds; provided that any cash received from and (d) an Opinion of Bond Counsel, dated the date of such principal or interest payments on such obligations deposited with deemed payment and addressed to the Authority, the City and the Trustee, if not then needed for such purpose, shallin form and in substance acceptable to the Authority and the City, to the extent practicable effect that such Bonds have been paid within the meaning and consistent with the terms effect expressed in the Indenture, the Indenture has been discharged in respect of this Agreement such Bonds and any escrow agreement pertaining theretoall agreements, covenants and at the written direction other obligations of the Company, be reinvested in Government Obligations maturing at times Authority and in amounts, together with the other moneys and payments with respect to Government Obligations then held by the Trustee pursuant to this Section, sufficient to pay when due the principal or Redemption Price (City hereunder as applicable) of, and interest to become due on said Bonds on and prior to such Redemption Date or Maturity DateBonds have ceased, as the case may beterminated, become void and interest earned from such reinvestments shall, upon receipt by the Trustee of a written direction of a Company Representative, be paid over to the Company, as received by the Trustee, free been completely discharged and clear of any trust, lien or pledge. Any release under this Section shall be without prejudice to the right of the Trustee to be paid the agreed upon compensation for all services rendered by it under this Agreement and all its reasonable expenses, charges and other disbursements and those of its attorneys, agents and employees, incurred on and about the administration of trusts by this Agreement created and the performance of its powers and duties under this Agreement; provided, however, that the Trustee shall have no right, title or interest in, or lien on, any moneys or securities deposited pursuant to this ARTICLE XIIIsatisfied.

Bonds Deemed To Have Been Paid. Any outstanding Bond shall, prior to If moneys shall have been set aside and held by the Trustee for the payment or redemption of any Bonds and the interest thereon at the maturity or redemption date thereof, such Bonds shall be deemed to have been paid within the meaning and with the effect provided in Section 10.01 hereof. Any Outstanding Bonds shall prior to the maturity date or redemption date thereof be deemed to have been paid within the meaning of and with the effect expressed in Section 13.01 10.01 hereof if (a) in case said any of such Bonds are to be redeemed on any date prior to their maturitymaturity date, the Company Authority shall have given to the Trustee in form satisfactory to the Trustee it irrevocable instructions to mail, on a date in accordance with the provisions of ARTICLE IV of this AgreementSection 4.02 hereof, notice of redemption of such Bonds on said Redemption Dateredemption date, said notice to be given in accordance with Section 4.02 hereof, (b) there shall have been deposited with the Trustee either moneys (insured at all times by the Federal Deposit Insurance Corporation or otherwise collateralized with Government Obligations), i) money in an amount which shall be sufficient, or Government Obligations(ii) Federal Securities that are not subject to redemption other than at the option of the holder thereof, the principal of and the interest on and principal of which when due, and without any reinvestment thereof, paid will provide moneys money which, together with the moneysmoney, if any, deposited with or held by the Trustee at the same time, shall be sufficient (shall, as verified by a report of an independent certified public accountant), be sufficient to pay when due the principal or Redemption Price (as applicable) of, and interest due and to become due on, said on such Bonds on and prior to the Redemption Date maturity date or Maturity Date redemption date thereof, as the case may be, and the principal of and premium, if any, on such Bonds, and (c) in the event any of said such Bonds are not by their terms subject to be redeemed redemption within the next succeeding sixty (60) 60 days, the Company Authority shall have given the Trustee in form satisfactory to the Trustee it irrevocable instructions to mail, mail as soon as practicable in the same manner as a notice of redemption is mailed pursuant to ARTICLE IV of this Agreementpracticable, a notice to the holders owners of such Bonds and to the Securities Depository and an Information Service that the deposit required by clause (b) above has been made with the Trustee and that said Bonds such Bonds, are deemed to have been paid in accordance with this Section and stating such the maturity date or redemption dates date upon which moneys are money is to be available for the payment of the principal or Redemption Price (as applicable) of said Bonds. Neither the securities nor moneys deposited with the Trustee pursuant to this Section nor principal or interest payments on any such securities shall be withdrawn or used for any purpose other thanand premium, and shall be held in trust forif any, the payment of the principal or Redemption Price (as applicable) of, and interest on said Bonds; provided that any cash received from such principal or interest payments on such obligations deposited with the Trustee, if not then needed for such purpose, shall, to the extent practicable and consistent with the terms of this Agreement and any escrow agreement pertaining thereto, and at the written direction of the Company, be reinvested in Government Obligations maturing at times and in amounts, together with the other moneys and payments with respect to Government Obligations then held by the Trustee pursuant to this Section, sufficient to pay when due the principal or Redemption Price (as applicable) of, and interest to become due on said Bonds on and prior to such Redemption Date or Maturity Date, as the case may be, and interest earned from such reinvestments shall, upon receipt by the Trustee of a written direction of a Company Representative, be paid over to the Company, as received by the Trustee, free and clear of any trust, lien or pledge. Any release under this Section shall be without prejudice to the right of the Trustee to be paid the agreed upon compensation for all services rendered by it under this Agreement and all its reasonable expenses, charges and other disbursements and those of its attorneys, agents and employees, incurred on and about the administration of trusts by this Agreement created and the performance of its powers and duties under this Agreement; provided, however, that the Trustee shall have no right, title or interest in, or lien on, any moneys or securities deposited pursuant to this ARTICLE XIIIBonds.

Bonds Deemed To Have Been Paid. Any outstanding Bond shall, prior to If moneys shall have been set aside and held by the Trustee for the payment or redemption of any Bonds and the interest thereon at the maturity or redemption date thereof, such Bonds shall be deemed to have been paid within the meaning and with the effect provided in Section 10.01. Any Outstanding Bonds shall prior to the maturity date or redemption date thereof be deemed to have been paid within the meaning of and with the effect expressed in Section 13.01 10.01 if (a) in case said any of such Bonds are to be redeemed on any date prior to their maturitymaturity date, the Company Community Facilities District shall have given to the Trustee in form satisfactory to the Trustee it irrevocable instructions to mail, on a date in accordance with the provisions of ARTICLE IV of this AgreementSection 4.02, notice of redemption of such Bonds on said Redemption Dateredemption date, said notice to be given in accordance with Section 4.02, (b) there shall have been deposited with the Trustee either moneys (insured at all times by the Federal Deposit Insurance Corporation or otherwise collateralized with Government Obligations), i) money in an amount which shall be sufficient, or Government Obligations(ii) Federal Securities, the principal of and the interest on and principal of which when due, and without any reinvestment thereof, paid will provide moneys money which, together with the moneysmoney, if any, any deposited with or held by the Trustee at the same time, shall be sufficient (shall, as verified by a report of an independent certified public accountant), be sufficient to pay when due the principal or Redemption Price (as applicable) of, and interest due and to become due on, said on such Bonds on and prior to the Redemption Date maturity date or Maturity Date redemption date thereof, as the case may be, and the principal of and premium, if any, on such Bonds, and (c) in the event any of said such Bonds are not by their terms subject to be redeemed redemption within the next succeeding sixty (60) 60 days, the Company Community Facilities District shall have given the Trustee in form satisfactory to the Trustee it irrevocable instructions to mail, mail as soon as practicable in the same manner as a notice of redemption is mailed pursuant to ARTICLE IV of this Agreementpracticable, a notice to the holders owners of such Bonds and to the Securities Depository and an Information Service that the deposit required by clause (b) above has been made with the Trustee and that said Bonds such Bonds, are deemed to have been paid in accordance with this Section and stating such the maturity date or redemption dates date upon which moneys are money is to be available for the payment of the principal or Redemption Price (as applicable) of said Bonds. Neither the securities nor moneys deposited with the Trustee pursuant to this Section nor principal or interest payments on any such securities shall be withdrawn or used for any purpose other thanand premium, and shall be held in trust forif any, the payment of the principal or Redemption Price (as applicable) of, and interest on said Bonds; provided that any cash received from such principal or interest payments on such obligations deposited with the Trustee, if not then needed for such purpose, shall, to the extent practicable and consistent with the terms of this Agreement and any escrow agreement pertaining thereto, and at the written direction of the Company, be reinvested in Government Obligations maturing at times and in amounts, together with the other moneys and payments with respect to Government Obligations then held by the Trustee pursuant to this Section, sufficient to pay when due the principal or Redemption Price (as applicable) of, and interest to become due on said Bonds on and prior to such Redemption Date or Maturity Date, as the case may be, and interest earned from such reinvestments shall, upon receipt by the Trustee of a written direction of a Company Representative, be paid over to the Company, as received by the Trustee, free and clear of any trust, lien or pledge. Any release under this Section shall be without prejudice to the right of the Trustee to be paid the agreed upon compensation for all services rendered by it under this Agreement and all its reasonable expenses, charges and other disbursements and those of its attorneys, agents and employees, incurred on and about the administration of trusts by this Agreement created and the performance of its powers and duties under this Agreement; provided, however, that the Trustee shall have no right, title or interest in, or lien on, any moneys or securities deposited pursuant to this ARTICLE XIIIBonds.

Bonds Deemed To Have Been Paid. Any outstanding Bond shall, prior to the maturity Maturity Date or redemption date Redemption Date thereof, be deemed to have been paid within the meaning and with the effect expressed in Section 13.01 if (a) in case said Bonds are to be redeemed on any date prior to their maturity, the Company shall have given to the Trustee in form satisfactory to the Trustee irrevocable instructions to mail, in accordance with the provisions of ARTICLE IV of this Agreement, notice of redemption of such Bonds on said Redemption Date, (b) there shall have been deposited with the Trustee either moneys (insured at all times by the Federal Deposit Insurance Corporation or otherwise collateralized with Government Obligations), in an amount which shall be sufficient, or Government Obligations, the principal of and the interest on which when due, and without any reinvestment thereof, will provide moneys which, together with the moneys, if any, deposited with or held by the Trustee at the same time, shall be sufficient (as verified by a report of an independent certified public accountant), to pay when due the principal or Redemption Price (as applicable) of, and interest due and to become due on, said Bonds on and prior to the Redemption Date or Maturity Date thereof, as the case may be, and (c) in the event any of said Bonds are not to be redeemed within the next succeeding sixty (60) days, the Company shall have given the Trustee in form satisfactory to the Trustee irrevocable instructions to mail, as soon as practicable in the same manner as a notice of redemption is mailed pursuant to ARTICLE IV of this Agreement, a notice to the holders of such Bonds and to the Securities Depository and an Information Service that the deposit required by (b) above has been made with the Trustee and that said Bonds are deemed to have been paid in accordance with this Section and stating such maturity Maturity Date or redemption dates Redemption Dates upon which moneys are to be available for the payment of the principal or Redemption Price (as applicable) of said Bonds. Neither the securities nor moneys deposited with the Trustee pursuant to this Section nor principal or interest payments on any such securities shall be withdrawn or used for any purpose other than, and shall be held in trust for, the payment of the principal or Redemption Price (as applicable) of, and interest on said Bonds; provided that any cash received from such principal or interest payments on such obligations deposited with the Trustee, if not then needed for such purpose, shall, to the extent practicable and consistent with the terms of this Agreement and any escrow agreement pertaining thereto, and at the written direction of the Company, be reinvested in Government Obligations maturing at times and in amounts, together with the other moneys and payments with respect to Government Obligations then held by the Trustee pursuant to this Section, sufficient to pay when due the principal or Redemption Price (as applicable) of, and interest to become due on said Bonds on and prior to such Redemption Date or Maturity Date, as the case may be, and interest earned from such reinvestments shall, upon receipt by the Trustee of a written direction of a Company Representative, be paid over to the Company, as received by the Trustee, free and clear of any trust, lien or pledge. Any release under this Section shall be without prejudice to the right of the Trustee to be paid the agreed upon compensation for all services rendered by it under this Agreement and all its reasonable expenses, charges and other disbursements and those of its attorneys, agents and employees, incurred on and about the administration of trusts by this Agreement created and the performance of its powers and duties under this Agreement; provided, however, that the Trustee shall have no right, title or interest in, or lien on, any moneys or securities deposited pursuant to this ARTICLE XIII.

Bonds Deemed To Have Been Paid. Any outstanding Outstanding Bond or Bonds shall, prior to the maturity maturity, acceleration or redemption date thereof, be deemed to have been paid within the meaning and with the effect expressed in Section 13.01 11.01 if (a) in case said Bonds are to be redeemed on any date prior to their maturity, the Company shall have given to the Trustee in form satisfactory to the Trustee irrevocable instructions to mail, in accordance with the provisions of ARTICLE IV of this AgreementIndenture, notice of redemption of such Bonds on said Redemption Dateredemption date, (b) there shall have been deposited with the Trustee either moneys (insured at all times by the Federal Deposit Insurance Corporation or otherwise collateralized with Government Obligations)moneys, in an amount which shall be sufficient, or Government Obligationsnon-callable Governmental Bonds, the principal of and the interest on which when due, and without any reinvestment thereof, will provide moneys which, together with the moneys, if any, deposited with or held by the Trustee at the same timetime in any fund, account or subaccount under the Indenture and available therefor (other than the Rebate Fund), shall be sufficient (as verified by a report of an independent certified public accountant), to pay when due the principal or Redemption Price (as if applicable) of, and interest due and to become due on, said Bonds on and prior to the Redemption Date redemption date or Maturity Date maturity date thereof, as the case may be, and (c) in the event any of said Bonds are not to be redeemed within the next succeeding sixty (60) 60 days, the Company shall have given the Trustee in form satisfactory to the Trustee irrevocable instructions to mail, as soon as practicable in the same manner as a notice of redemption is mailed pursuant to ARTICLE IV of this AgreementIndenture, a notice to the holders Owners of such Bonds and to the Securities Depository and an Information Service Depositories that the deposit required by (b) above has been made with the Trustee and that said Bonds are deemed to have been paid in accordance with this Section 11.02 and stating such maturity or redemption dates upon which moneys are to be available for the payment of the principal or Redemption Price (as if applicable) of said Bonds. Neither the securities nor moneys deposited with the Trustee pursuant to this Section 11.02 nor principal or interest payments on any such securities Governmental Bonds shall be withdrawn or used for any purpose other than, and shall be held in trust for, the payment of the principal or Redemption Price (as if applicable) of, and interest on said Bonds; provided that any cash received from such principal or interest payments on such obligations Governmental Bonds deposited with the Trustee, if not then needed for such purpose, shall, to the extent practicable and consistent with the terms of this Agreement and any escrow agreement pertaining theretopracticable, and at the written direction of the Company, be reinvested in Government Obligations Governmental Bonds maturing at times and in amounts, together with the other moneys and payments with respect to Government Obligations Governmental Bonds then held by the Trustee pursuant to this Section, sufficient to pay when due the principal or Redemption Price (as if applicable) of, and interest to become due on said Bonds on and prior to such Redemption Date redemption date or Maturity Datematurity date thereof, as the case may be, and interest earned from such reinvestments shall, upon receipt by the Trustee of a written direction of a Company Representative, be paid over to the Company, as received by the Trustee, free and clear of any trust, lien or pledge. Notwithstanding the foregoing, no deposit under clause (b) of the first paragraph of this Section shall be made until the Company has furnished the Trustee a Favorable Opinion of Bond Counsel stating that the deposit of such cash or Governmental Bonds will not cause the Tax-Exempt Bonds to become “arbitrage bonds” under Section 148 of the Code. Any release under this Section 11.02 shall be without prejudice to the right of the Trustee to be paid the agreed upon reasonable compensation for all services rendered by it under this Agreement Indenture and all its reasonable expenses, charges and other disbursements and those of its attorneys, agents and employees, incurred on and about the administration of trusts by this Agreement Indenture created and the performance of its powers and duties under this AgreementIndenture, including the right of the Trustee to compensation and indemnification under Section 8.03; provided, however, that the Trustee shall have no right, title or interest in, or lien on, any moneys or securities deposited pursuant to this ARTICLE XIIIArticle XI.

Bonds Deemed To Have Been Paid. Any outstanding Bond shall, prior to If moneys shall have been set aside and held by the Trustee for the payment or redemption of any Bonds and the interest thereon at the maturity or redemption date thereof, such Bonds shall be deemed to have been paid within the meaning and with the effect provided in Section 10.01 hereof. Any Outstanding Bonds shall prior to the maturity date or redemption date thereof be deemed to have been paid within the meaning of and with the effect expressed in Section 13.01 10.01 hereof if (a) in case said any of such Bonds are to be redeemed on any date prior to their maturitymaturity date, the Company Authority shall have given to the Trustee in form satisfactory to the Trustee it irrevocable instructions to mail, on a date in accordance with the provisions of ARTICLE IV of this AgreementSection 4.02 hereof, notice of redemption of such Bonds on said Redemption Dateredemption date, said notice to be given in accordance with Section 4.02 hereof, (b) there shall have been deposited with the Trustee either moneys (insured at all times by the Federal Deposit Insurance Corporation or otherwise collateralized with Government Obligations), i) money in an amount which shall be sufficient, or Government Obligations(ii) Federal Securities that are not subject to redemption other than at the option of the holder thereof, the principal of and the interest on and principal of which when due, and without any reinvestment thereof, paid will provide moneys money which, together with the moneysmoney, if any, any deposited with or held by the Trustee at the same time, shall be sufficient (shall, as verified by a report of an independent certified public accountant), be sufficient to pay when due the principal or Redemption Price (as applicable) of, and interest due and to become due on, said on such Bonds on and prior to the Redemption Date maturity date or Maturity Date redemption date thereof, as the case may be, and the principal of and premium, if any, on such Bonds, and (c) in the event any of said such Bonds are not by their terms subject to be redeemed redemption within the next succeeding sixty (60) 60 days, the Company Authority shall have given the Trustee in form satisfactory to the Trustee it irrevocable instructions to mail, mail as soon as practicable in the same manner as a notice of redemption is mailed pursuant to ARTICLE IV of this Agreementpracticable, a notice to the holders owners of such Bonds and to the Securities Depository and an Information Service that the deposit required by clause (b) above has been made with the Trustee and that said Bonds such Bonds, are deemed to have been paid in accordance with this Section and stating such the maturity date or redemption dates date upon which moneys are money is to be available for the payment of the principal or Redemption Price (as applicable) of said Bonds. Neither the securities nor moneys deposited with the Trustee pursuant to this Section nor principal or interest payments on any such securities shall be withdrawn or used for any purpose other thanand premium, and shall be held in trust forif any, the payment of the principal or Redemption Price (as applicable) of, and interest on said Bonds; provided that any cash received from such principal or interest payments on such obligations deposited with the Trustee, if not then needed for such purpose, shall, to the extent practicable and consistent with the terms of this Agreement and any escrow agreement pertaining thereto, and at the written direction of the Company, be reinvested in Government Obligations maturing at times and in amounts, together with the other moneys and payments with respect to Government Obligations then held by the Trustee pursuant to this Section, sufficient to pay when due the principal or Redemption Price (as applicable) of, and interest to become due on said Bonds on and prior to such Redemption Date or Maturity Date, as the case may be, and interest earned from such reinvestments shall, upon receipt by the Trustee of a written direction of a Company Representative, be paid over to the Company, as received by the Trustee, free and clear of any trust, lien or pledge. Any release under this Section shall be without prejudice to the right of the Trustee to be paid the agreed upon compensation for all services rendered by it under this Agreement and all its reasonable expenses, charges and other disbursements and those of its attorneys, agents and employees, incurred on and about the administration of trusts by this Agreement created and the performance of its powers and duties under this Agreement; provided, however, that the Trustee shall have no right, title or interest in, or lien on, any moneys or securities deposited pursuant to this ARTICLE XIIIBonds.