Common use of Conditions to Legal Defeasance or Covenant Defeasance Clause in Contracts

Conditions to Legal Defeasance or Covenant Defeasance. The following shall be the conditions to the application of either the Legal Defeasance option as the Covenant Defeasance option hereof to the outstanding Notes: In order to exercise either Legal Defeasance or Covenant Defeasance: (1) the Company must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders of the Notes, cash in U.S. Legal Tender, U.S. Government Obligations, or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay the principal of, premium, if any, and interest on the outstanding Notes on the Stated Maturity or on the applicable redemption date, as the case may be, and the Company must specify whether the Notes are being defeased to maturity or to a particular redemption date;

Conditions to Legal Defeasance or Covenant Defeasance. The following shall be the conditions to the application of either the Legal Defeasance option as the Covenant Defeasance option Section 8.02(b) or 8.02(c) hereof to the outstanding Notes: In order to exercise either Legal Defeasance or Covenant Defeasance: (1) the Company Issuer must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders of the Notes, cash in U.S. Legal Tender, U.S. non-callable Government ObligationsSecurities, or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay the principal of, or interest and premium, if any, and interest on the outstanding Notes on the Stated Maturity or on the applicable redemption dateRedemption Date, as the case may be, and the Company Issuer must specify whether the Notes are being defeased to maturity or to a particular redemption dateRedemption Date;