Defeasance of Bonds. Any Bond shall be deemed to be paid and no longer Outstanding within the meaning of this Article and for all purposes of this Indenture when (a) payment of the principal and interest of such Bond either (i) shall have been made or caused to be made in accordance with the terms thereof, or (ii) shall have been provided for by irrevocably depositing with the Trustee in trust and irrevocably set aside exclusively for such payment, (1) moneys sufficient to make such payment or (2) direct obligations of (including obligations issued or held in book entry form on the books of) the Department of the Treasury of the United States of America, the principal of and the interest on which when due will provide sufficient moneys, and (b) all necessary and proper fees, compensation, indemnities and expenses of the Trustee and the Issuer pertaining to the Bonds with respect to which such deposit is made shall have been paid or the payment thereof provided for. At such time, and prior to the effectiveness of such defeasance, the Trustee shall be provided with a defeasance opinion by nationally recognized bond counsel. At such time as a Bond shall be deemed to be paid hereunder, as aforesaid, such Bond shall no longer be secured by or entitled to the benefits of this Indenture, except for the purposes of any such payment from such moneys or Governmental Obligations. Notwithstanding the foregoing, no deposit under clause (a)(ii) of the immediately preceding paragraph shall be deemed payment of such Bonds as aforesaid until (a) proper notice of redemption of such Bonds shall have been previously given in accordance with Section 5.2 of this Indenture, or if the Bonds are not by their terms subject to redemption within the next succeeding sixty (60) days, until the Company shall have given the Trustee in form satisfactory to the Trustee irrevocable instructions to notify, as soon as practicable, the Owners of the Bonds, that the deposit required by the preceding paragraph has been made with the Trustee and that the Bonds are deemed to have been paid in accordance with this Section 11.2 and stating the maturity or redemption date upon which moneys are to be available for the payment of the principal of and the applicable redemption premium, if any, on said Bonds, plus interest thereon to the due date thereof; or (b) the maturity of the Bonds. All moneys so deposited with the Trustee as provided in this Section 11.2 may also be invested and reinvested, at the written direction of...
Defeasance of Bonds. The District may pay and discharge any or all of the Bonds by depositing in trust with the Paying Agent or an escrow agent at or before maturity, money or non-callable direct obligations of the United States of America or other non-callable obligations the payment of the principal of and interest on which is guaranteed by a pledge of the full faith and credit of the United States of America, in an amount which will, together with the interest to accrue thereon and available moneys then on deposit in the Interest and Sinking Fund, be fully sufficient in the opinion of a certified public accountant licensed to practice in the State to pay and discharge the indebtedness on such Bonds (including all principal, interest and redemption premiums) at or before their respective maturity dates. If at any time the District pays or causes to be paid or there is otherwise paid to the owners of any or all outstanding Bonds all of the principal, interest and premium, if any, represented by such Bonds when due, or as described above, or as otherwise provided by law, then such Owners shall cease to be entitled to the obligation of the County to levy and collect taxes to pay the Bonds as described in Section 5.01 hereof, and such obligation and all agreements and covenants of the District to such Owners hereunder shall thereupon be satisfied and discharged and shall terminate, except only that the District will remain liable for payment of all principal, interest and premium, if any, represented by such Bonds, but only out of moneys on deposit in the Interest and Sinking Fund or otherwise held in trust for such payment, provided, that the unclaimed moneys provisions described in Section 6.07 hereof will apply in all events.
Defeasance of Bonds. The Bonds shall be defeased pursuant to Section 6.1(g) and Buyer shall have received evidence reasonably satisfactory to it that following such defeasance none of the Business, Buyer nor Parent shall have any liability in respect of the Bonds or related obligations.
Defeasance of Bonds. Upon the deposit, in trust, at or before maturity, of money or securities in the necessary amount (as provided in Section 9.03(c) hereof) to pay or redeem any Outstanding Bond (whether upon or prior to its maturity or the redemption date of such Bond), provided that, if such Bond is to be redeemed prior to maturity, notice of such redemption shall have been given as provided in Section 2.03 or provision satisfactory to the Paying Agent shall have been made for the giving of such notice, then such Bond shall be defeased and all liability of the District in respect of such Bond shall cease and be completely discharged, except only that thereafter the Owner thereof shall be entitled only to payment of the principal of and interest on such Bond by the District, and the District shall remain liable for such payment, but only out of such money or securities deposited with the Paying Agent as aforesaid for such payment, provided further, however, that the provisions of Section 9.03(d) shall apply in all events. The District may at any time surrender to the Paying Agent for cancellation by it any Bonds previously issued and delivered, which the District may have acquired in any manner whatsoever, and such Bonds, upon such surrender and cancellation, shall be deemed to be paid and retired.
Defeasance of Bonds. Seller shall maintain the Bond Defeasance Escrow Account in the form presented to Buyer at Closing. Seller shall not withdraw funds from the Bond Defeasance Escrow Account or use the funds deposited therein except to defease or redeem and/or fund the debt service on the portion of the Xxxxxxx County Hospital Authority Revenue Anticipation Certificates (Southern Regional Medical Center Project), Series 1998A, attributable to the acquisition of the Purchased Assets (the “Allocated Portion of the Bonds”). Within ninety (90) days following the Closing Date, Seller shall defease or redeem the Allocated Portion of the Bonds and provide Buyer evidence of the same.
Defeasance of Bonds. The Bonds shall be defeased pursuant to
Defeasance of Bonds. Any Bond shall be deemed to be paid and no longer Outstanding within the meaning of this Article and for all purposes of this Indenture when (a) payment of the principal and interest of such Bond either (i) shall have been made or caused to be made in accordance with the terms thereof, or (ii) shall have been provided for by irrevocably depositing with the Trustee in trust and irrevocably set aside exclusively for such payment, (1) moneys sufficient to make such payment or (2) direct obligations of (including obligations issued or held in book entry form on the books of) the Department of the Treasury of the United States of America, the principal of and the interest on which when due will provide sufficient moneys, and (b) all necessary and proper fees, compensation, indemnities and expenses of the Trustee and the Issuer pertaining to the Bonds with respect to which such deposit is made shall have been paid or the payment thereof provided for. At such time, and prior to the effectiveness of such defeasance, the Trustee shall be provided with a defeasance opinion by nationally recognized bond counsel. At such time as a Bond shall be deemed to be paid hereunder, as aforesaid, such Bond shall no longer be secured by or entitled to the benefits of this Indenture, except for the purposes of any such payment from such moneys or Governmental Obligations.
Defeasance of Bonds. The Bonds and Notes will be fully defeased ------------------- and all collateral and obligations and security against the Acquired Assets will be fully released to Buyer's reasonable satisfaction. Seller shall use the amounts designated as "funded depreciation" in its audited financial statements as the first source of funds for the defeasance of the Bonds and Notes.
Defeasance of Bonds. If the City shall pay or cause to be paid, or 19 there shall otherwise be paid, to the Registered Owners of the Series 2020 A Bonds, the principal 20 thereof, and redemption premium, if applicable, and interest due or to become due thereon, at the 21 times and in the manner stipulated therein and in this Ordinance, then the pledge of Net 22 Revenues and any other moneys and securities pledged under this Ordinance and all covenants, 23 agreements and other obligations of the City to the Registered Owners shall thereupon cease, 24 terminate and become void and be discharged and satisfied, except as may otherwise be 25 necessary to assure the exclusion of interest on the Series 2020 A Bonds from gross income for 28 Bonds for the payment of which either moneys in an amount which shall be 29 sufficient, or securities the principal of and the interest on which, when due, will provide moneys 30 which, together with the moneys, if any, deposited with the Paying Agent at the same or earlier 31 time, shall be sufficient, to pay as and when due the respective principal of and interest on such 32 Series 2020 A Bonds shall be deemed to have been paid within the meaning and with the effect 33 expressed in the first paragraph of this section. All Series 2020 A Bonds shall, prior to the 34 maturity thereof, be deemed to have been paid within the meaning and with the effect expressed 35 in the first paragraph of this section if there shall have been deposited with the Commission or an 36 escrow trustee either moneys in an amount which shall be sufficient, or securities the principal of 37 and the interest on which, when due, will provide moneys which, together with the moneys, if 38 any, deposited with the Commission or said escrow trustee at the same or earlier time shall be 39 sufficient, to pay when due the principal of, any redemption premium on and interest due and to 40 become due on said Series 2020 A Bonds on and prior to the maturity date thereof, or if the City 41 irrevocably determines to redeem any of said Series 2020 A Bonds prior to the maturity thereof, 42 on and prior to said redemption date. Neither securities nor moneys deposited with the 43 Commission or an escrow trustee pursuant to this section nor principal or interest payments on 44 any such securities shall be withdrawn or used for any purpose other than, and shall be held in 45 trust for, the payment of the principal of and interest on said Series 2020 A Bonds; provided, that 46 any cash received f...
Defeasance of Bonds. Terminate the Bonds under the Indenture with a direct assignment or application of the Palo Verde Receipts and the Santa Xxxx Receipts without reasonable prior notice to and consultation with Bank.
