Common use of CREDITS WITH RESPECT TO BONDS OF THE TWENTY-FIRST SERIES Clause in Contracts

CREDITS WITH RESPECT TO BONDS OF THE TWENTY-FIRST SERIES. SECTION 2.1 In addition to any other credit, payment or satisfaction to which the Company is entitled with respect to the Bonds of the Twenty-First Series, the Company shall be entitled to credits against amounts otherwise payable in respect of the Bonds of the Twenty-First Series in an amount corresponding to (a) the principal amount of any of the Notes surrendered to the Note Trustee by the Company, or purchased by the Note Trustee, for cancellation, (b) the amount of money held by the Note Trustee and available and designated for the payment of principal of, and/or interest on, the Notes, regardless of the source of payment to the Note Trustee of such moneys and (c) the amount by which principal of and interest due on the Bonds of the Twenty-First Series exceeds principal of and interest due on the Notes. SECTION 2.2 A certificate of the Company signed by the President or any Vice President, and attested to by the Secretary or any Assistant Secretary, and consented to by the Note Trustee, stating that the Company is entitled to a credit under Section 2.1 hereof or that Bonds of the Twenty-First Series have been canceled, and setting forth the basis therefor in reasonable detail, shall be conclusive evidence of such entitlement, and the Trustee shall accept such certificate as such evidence without further investigation or verification of the matters stated therein. SECTION 2.3 Notwithstanding anything in this Twenty-Third Supplemental Indenture to the contrary, the obligation of the Company to make payment with respect to the principal of and premium, if any, and interest on the Bonds of the Twenty-First Series shall be deemed satisfied and discharged (a) on the Substitution Date or (b) if at any time: (i) the Company shall have paid or caused to be paid the principal of and premium, if any, and interest on all the outstanding Notes, as and when the same shall have become due and payable (ii) the Company shall have delivered to the Note Trustee for cancellation all outstanding Notes; or (iii) the Company shall have irrevocably deposited or caused to be irrevocably deposited with the Note Trustee as trust funds the entire amount in (A) cash, (B) U.S. Government obligations maturing as to principal and interest in such amounts and at such times as will insure the availability of cash, or (C) a combination of cash and U.S. Government obligations, in any case sufficient, without reinvestment, as certified by an independent public accounting firm of national reputation in a written certification delivered to the Trustee, to pay at maturity or the applicable redemption date (provided that notice of redemption shall have been duly given or irrevocable provision satisfactory to the Note Trustee shall have been duly made for the giving of any notice of redemption) all outstanding Notes, including principal and any premium and interest due or to become due to such date of maturity, as the case may be. When the obligation of the Company to make payment with respect to the principal of and premium, if any, and interest on the Bonds of the Twenty-First Series shall be satisfied or deemed satisfied pursuant to this Section 2.3 hereof, the holders of Bonds of the Twenty-First Series shall, upon written request of the Company, deliver without cost to the Company all of the Bonds of the Twenty-First Series, together with such appropriate instruments of transfer or release as may be reasonably requested by the Company. All Bonds of the Twenty-First Series delivered to the Company in accordance with this Section 2.3 shall be delivered by the Company to the Trustee for cancellation.