Common use of Delivery of Bonds; Effect of Failure to Surrender Bonds Clause in Contracts

Delivery of Bonds; Effect of Failure to Surrender Bonds. All Bonds to be purchased on the mandatory purchase date shall be required to be delivered to the Principal Office of the Tender Agent for receipt at or before 11:00 a.m. on such date. If the Owner of any Bond (or portion thereof) that is subject to purchase pursuant to this Section fails to deliver such Bonds to the Tender Agent for purchase on the mandatory tender date, and if the Tender Agent is in receipt of the purchase price therefor, such Bond (or portion thereof) shall nevertheless be deemed tendered and purchased on the mandatory purchase date and ownership of such Bond (or portion thereof) shall be transferred to the purchaser thereof as provided in Section 4.03(h). Any Owner who fails to deliver such Bond for purchase on (or before) the mandatory purchase date shall have no further rights thereunder, except the right to receive the purchase price thereof upon presentation and surrender of such Bond to the Tender Agent properly endorsed for transfer in blank. The Tender Agent shall, as to any tendered Bonds which have not been delivered to it, place a stop transfer against the serial number(s) of Bonds registered in the name of the Owner(s) on the Bond Register and not specified in the notice described in Section 4.03(c). The Tender Agent shall place such stop transfer(s) commencing with the lowest serial number Bond registered in the name of such Owner(s) (until stop transfers have been placed against an appropriate amount of Bonds) until the appropriate tendered Bonds are delivered to the Tender Agent. Upon such delivery, the Tender Agent shall make any necessary adjustments to the Bond Register.

Delivery of Bonds; Effect of Failure to Surrender Bonds. All Bonds to be purchased on the mandatory purchase date shall be required to be delivered to the Principal Payment Office of the Tender Paying Agent for receipt at or before 11:00 a.m. on such date. If the Owner of any Bond (or portion thereof) that is subject to purchase pursuant to this Section fails to deliver such Bonds Bond to the Tender Paying Agent for purchase on the mandatory tender datePurchase Date, and if the Tender Paying Agent is in receipt of the purchase price therefor, such Bond (or portion thereof) shall nevertheless be deemed tendered and purchased on the mandatory Purchase Date fixed for the purchase date thereof and registration of the ownership of such Bond (or portion thereof) shall be transferred to the purchaser thereof as provided in Section 4.03(h2B.4(i). Any Owner who so fails to deliver such Bond for purchase on (or before) the mandatory purchase date Purchase Date (1) shall have no further rights thereunder, except the right to receive the purchase price thereof upon presentation and surrender of such Bond to the Tender Paying Agent properly endorsed for transfer in blankblank and with all signatures guaranteed to the satisfaction of the Paying Agent and (2) shall thereafter hold such Bond as agent for the Paying Agent. The Tender Paying Agent shall, as to any tendered Bonds which have not been delivered to itit (“Undelivered Bonds”), place a stop transfer against the serial number(s) of such Bonds registered in the name of the Owner(s) on the Bond Register and not specified in the notice described in Section 4.03(c). The Tender Agent shall place such stop transfer(s) commencing with the lowest serial number Bond registered in the name of such Owner(s) (until stop transfers have been placed against an appropriate amount of Bonds) until the appropriate tendered Bonds they are delivered to the Tender Paying Agent. Upon such delivery, the Tender Paying Agent shall make any necessary adjustments to the Bond Register. The Paying Agent shall hold moneys representing the purchase price of Undelivered Bonds in one or more separate accounts or subaccounts for the sole benefit of the former Owner(s) of such Undelivered Bonds.

Delivery of Bonds; Effect of Failure to Surrender Bonds. All Bonds to be purchased on the mandatory purchase any date shall be required to be delivered to the Principal Office of the Tender Agent for receipt at or before 11:00 a.m. on such the purchase date. If the Owner of any Bond (or portion thereof) that is subject to purchase pursuant to this Section 4.01 fails to deliver such Bonds to the Tender Agent for purchase on the mandatory tender datepurchase date with an appropriate endorsement for transfer or accompanied by a bond power endorsed in blank, and if such Bond is to be purchased prior to the next succeeding Interest Payment Date and after the Regular Record Date in respect thereof, a non-recourse due-bill, xxr interest due from the preceding Interest Payment Date to the next succeeding Interest Payment Date, and if the Tender Agent is in receipt of the purchase price therefor, such Bond (or portion thereof) shall nevertheless be deemed tendered and purchased on the mandatory day fixed for purchase date theereof and ownership of such Bond (or portion thereof) shall be transferred to the purchaser thereof as provided in Section 4.03(h4.01(j). Any Owner who fails to deliver such Bond for purchase on (or before) the mandatory purchase date shall have no further rights thereunder, except the right to receive the purchase price thereof upon presentation and surrender of such Bond to the Tender Agent properly endorsed for transfer in blank. The Tender Agent shall, as to any tendered Bonds which have not been delivered to it, (i) promptly notify the Remarketing Agent of such nondelivery and (ii) place a stop transfer against the serial number(snumber of such Bond(s) of Bonds registered in the name of the Owner(s) on the Bond Register and not specified in the notice of tender described in Section 4.03(c). The Tender Agent shall place such stop transfer(s) commencing with the lowest serial number Bond registered in the name of such Owner(s) (until stop transfers have been placed against an appropriate amount of Bonds4.01(b) until the appropriate tendered Bonds are delivered to the Tender Agent. Upon such delivery, the Tender Agent shall make any necessary adjustments to the Bond Register.

Delivery of Bonds; Effect of Failure to Surrender Bonds. All Bonds to be purchased on the mandatory purchase any date shall be required to be delivered to the Principal Payment Office of the Tender Paying Agent for receipt at or before 11:00 a.m. on such datethe Purchase Date. If the Owner of any Bond (or portion thereof) that is subject to purchase pursuant to this Section fails to deliver such Bonds Bond to the Tender Paying Agent for purchase on the mandatory tender datePurchase Date, and if the Tender Paying Agent is in receipt of the purchase price therefor, such Bond (or portion thereof) shall nevertheless be deemed tendered and purchased on the mandatory Purchase Date fixed for purchase date thereof and registration of the ownership of such Bond (or portion thereof) shall be transferred to the purchaser thereof as provided in Section 4.03(h2B.1(j). Any Owner of any Bond (or portion thereof) that is subject to purchase pursuant to this Section who so fails to deliver such Bond for purchase on (or before) the mandatory purchase date Purchase Date (1) shall have no further rights thereunder, except the right to receive the purchase price thereof upon presentation and surrender of such Bond to the Tender Paying Agent properly endorsed for transfer in blankblank and with all signatures guaranteed to the satisfaction of the Paying Agent, and (2) shall thereafter hold such Bond as agent for the Paying Agent. The Tender Paying Agent shall, as to any tendered Bonds (or portions thereof) which have not been delivered to itit (“Undelivered Bonds”), (i) promptly notify the Remarketing Agent of such non-delivery and (ii) place a stop transfer against the serial number(s) an appropriate amount of Bonds registered in the name of the Owner(s) on the Bond Register and not specified in the notice described in Section 4.03(c)Register. The Tender Paying Agent shall place such stop transfer(s) commencing with the lowest serial number Bond registered in the name of such Owner(s) (until stop transfers have been placed against an appropriate amount of Bonds) until the appropriate tendered Bonds are delivered to the Tender Paying Agent. Upon such delivery, the Tender Paying Agent shall make any necessary adjustments to the Bond Register. The Paying Agent shall hold moneys representing the purchase price of Undelivered Bonds in one or more separate accounts or subaccounts for the sole benefit of the former Owner(s) of such Undelivered Bonds.

Delivery of Bonds; Effect of Failure to Surrender Bonds. All Bonds to be purchased on the mandatory purchase date Purchase Date shall be required to be delivered to the Principal Payment Office of the Tender Paying Agent for receipt at or before 11:00 a.m. on such date. If the Owner of any Bond (or portion thereof) that is subject to purchase pursuant to this Section fails to deliver such Bonds Bond to the Tender Paying Agent for purchase on the mandatory tender datePurchase Date, and if the Tender Paying Agent is in receipt of the purchase price therefor, such Bond (or portion thereof) shall nevertheless be deemed tendered and purchased on the mandatory Purchase Date fixed for the purchase date thereof, and registration of the ownership of such Bond (or portion thereof) shall be transferred to the purchaser thereof as provided in Section 4.03(h2B.2(i). Any Owner who so fails to deliver such Bond for purchase on (or before) the mandatory purchase date Purchase Date (1) shall have no further rights thereunder, except the right to receive the purchase price thereof upon presentation and surrender of such Bond to the Tender Paying Agent properly endorsed for transfer in blankblank and with all signatures guaranteed to the satisfaction of the Paying Agent and (2) shall thereafter hold such Bond as agent for the Paying Agent. The Tender Paying Agent shall, as to any tendered Bonds which have not been delivered to itit (“Undelivered Bonds”), (i) promptly notify the Remarketing Agent of such non-delivery and (ii) place a stop transfer against the serial number(s) of such Bonds registered in the name of the Owner(s) on the Bond Register and not specified in the notice described in Section 4.03(c). The Tender Agent shall place such stop transfer(s) commencing with the lowest serial number Bond registered in the name of such Owner(s) (until stop transfers have been placed against an appropriate amount of Bonds) until the appropriate tendered Bonds they are delivered to the Tender Paying Agent. Upon such delivery, the Tender Paying Agent shall make any necessary adjustments to the Bond Register. The Paying Agent shall hold moneys representing the purchase price of Undelivered Bonds in one or more separate accounts or subaccounts for the sole benefit of the former Owner(s) of such Undelivered Bonds.

Delivery of Bonds; Effect of Failure to Surrender Bonds. All Bonds to be purchased on the mandatory purchase date shall be required to be delivered to the Principal Office of the Tender Paying Agent for receipt at or before 11:00 a.m. on such date. If the Owner of any Bond (or portion thereof) that is subject to purchase pursuant to this Section fails to deliver such Bonds Bond to the Tender Paying Agent for purchase on the mandatory tender datePurchase Date, and if the Tender Paying Agent is in receipt of the purchase price therefor, such Bond (or portion thereof) shall nevertheless be deemed tendered and purchased on the mandatory Purchase Date fixed for the purchase date thereof and registration of the ownership of such Bond (or portion thereof) shall be transferred to the purchaser thereof as provided in Section 4.03(h2B.3(j). Any Owner who so fails to deliver such Bond for purchase on (or before) the mandatory purchase date Purchase Date (1) shall have no further rights thereunder, except the right to receive the purchase price thereof upon presentation and surrender of such Bond to the Tender Paying Agent properly endorsed for transfer in blankblank and with all signatures guaranteed to the satisfaction of the Paying Agent and (2) shall thereafter hold such Bond as agent for the Paying Agent. The Tender Paying Agent shall, as to any tendered Bonds which have not been delivered to itit (“Undelivered Bonds”), place a stop transfer against the serial number(s) of such Bonds registered in the name of the Owner(s) on the Bond Register and not specified in the notice described in Section 4.03(c). The Tender Agent shall place such stop transfer(s) commencing with the lowest serial number Bond registered in the name of such Owner(s) (until stop transfers have been placed against an appropriate amount of Bonds) until the appropriate tendered Bonds they are delivered to the Tender Paying Agent. Upon such delivery, the Tender Paying Agent shall make any necessary adjustments to the Bond Register. The Paying Agent shall hold moneys representing the purchase price of Undelivered Bonds in one or more separate accounts or subaccounts for the sole benefit of the former Owner(s) of such Undelivered Bonds.

Delivery of Bonds; Effect of Failure to Surrender Bonds. All Bonds to be purchased on the mandatory purchase any date shall be required to be delivered to the Principal Office principal corporate trust office of the Tender Paying Agent for receipt at or before 11:00 a.m. on such datein the manner provided above with respect to tenders during Floating Interest Rate Period. If the Owner holder of any Bond (or portion thereof) that is subject to purchase pursuant to this Section fails to deliver such Bonds Bond to the Tender Paying Agent for purchase on the mandatory tender purchase date, and if the Tender Paying Agent is in receipt of the purchase price therefor, such Bond (or portion thereof) shall nevertheless be deemed tendered and purchased on the mandatory day fixed for purchase date thereof and ownership of such Bond (or portion thereof) shall be transferred to the purchaser thereof as provided in Section 4.03(h)thereof. Any Owner Bondholder who fails to deliver such a Bond for purchase on (or before) the mandatory purchase date as required above shall have no further rights thereunder, hereunder except the right to receive the purchase price thereof hereof upon presentation and surrender of such said Bond to the Tender Agent properly endorsed for transfer in blankPaying Agent. The Tender Agent shallIssuer has appointed The First National Bank of Shreveport, of Shreveport, Louisiana, as to any tendered Bonds which have not been delivered to it, place a stop transfer against Paying Agent under the serial number(s) of Bonds registered Indenture. The Paying Agent may be removed and replaced in accordance with the name provisions of the Owner(s) on the Bond Register and not specified in the notice described in Section 4.03(c)Indenture. The Tender principal office of the Paying Agent shall place is 000 Xxxxx Xxxxxx, Xxxxxxxxxx, Xxxxxxxxx 00000, or such stop transfer(s) commencing other address designated in writing by the Paying Agent to the Trustee. The Issuer has appointed Piper, Jaffray & Xxxxxxx, Inc., of Seattle, Washington, as Remarketing Agent under the Indenture. The Remarketing Agent may be removed and replaced in accordance with the lowest serial number Bond registered provisions of the Indenture. The principal office of the Remarketing Agent is 1600 IBM Building, Seattle, Washington 98124-1920, or such other address designated in writing by the name of such Owner(s) (until stop transfers have been placed against an appropriate amount of Bonds) until the appropriate tendered Bonds are delivered Remarketing Agent to the Tender Agent. Upon such delivery, the Tender Agent shall make any necessary adjustments to the Bond RegisterTrustee.