Common use of Delivery of Remarketed Bonds Clause in Contracts

Delivery of Remarketed Bonds. (1) Except when the Book-Entry System is in effect, the Trustee shall hold all Bonds delivered pursuant to this Section 4.11 in trust for the benefit of the owners thereof until moneys representing the purchase price of such Bonds shall have been delivered to or for the account of or to the order of such Bondholders, and thereafter, if such Bonds are remarketed, shall deliver replacement Bonds, prepared by the Trustee in accordance with the directions of the Remarketing Agent and authenticated by the Trustee, for any Bonds purchased in accordance with the written directions of the Remarketing Agent, to the Remarketing Agent for delivery to the purchasers thereof. (2) Except in the case of Bonds bearing interest at an Auction Period Rate, the Remarketing Agent shall advise the Trustee and the Company in writing or by facsimile transmission of (A) the principal amount of Bonds which have been remarketed and that the proceeds of such remarketing have been received by the Remarketing Agent, and, (B) the denominations and registration instructions (including taxpayer identification numbers), in each case, in accordance with the following schedule (all times of which are New York City time): Commercial Paper Period 12:15 p.m. on the purchase date Daily Rate Period 11:45 a.m. on the purchase date Weekly Rate Period 11:45 a.m. on the purchase date Long-Term Interest Rate Period 12:15 p.m. on the purchase date (3) The terms of any sale by the Remarketing Agent shall provide for the authorization of the payment of the purchase price by the Remarketing Agent to the Trustee in exchange for Bonds registered in the name of the new Bondholder which shall be delivered by the Trustee to the Remarketing Agent at or before 2:00 p.m. (12:00 p.m. if the Bonds are not in a Book-Entry System) (New York City time) on the purchase date if the purchase price has been received from the Remarketing Agent by the time set forth in Section 4.11(e) on the purchase date.

Delivery of Remarketed Bonds. (1) Except when the Book-Entry System is in effect, the Trustee shall hold all Bonds delivered pursuant to this Section 4.11 in trust for the benefit of the owners thereof until moneys representing the purchase price of such Bonds shall have been delivered to or for the account of or to the order of such Bondholders, and thereafter, if such Bonds are remarketed, shall deliver replacement Bonds, prepared by the Trustee in accordance with the directions of the Remarketing Agent and authenticated by the Trustee, for any Bonds purchased in accordance with the written directions of the Remarketing Agent, to the Remarketing Agent for delivery to the purchasers thereof. (2) Except The Remarketing Agent or, in the case of Bonds bearing interest at an Auction Period Mode Rate, the Remarketing Agent Auction Agent, shall advise the Trustee and the Company in writing or by facsimile transmission of (A) the principal amount of Bonds which have been remarketed and that the proceeds of such remarketing have been received by the Remarketing Agent, and, (B) except in the case of Bonds bearing interest at an Auction Mode Rate, the denominations and registration instructions (including taxpayer identification numbers), in each case, in accordance with the following schedule (all times of which are New York City time): Commercial Paper Period 12:15 p.m. on the purchase date Daily Rate Period 11:45 a.m. on the purchase date Weekly Rate Period 11:45 a.m. on the purchase date Long-Term Interest Rate Period 12:15 p.m. on the purchase datedate Auction Rate Period 12:15 p.m. on the date of the Auction (3) The terms of any sale by the Remarketing Agent shall provide for the authorization of the payment of the purchase price by the Remarketing Agent to the Trustee in exchange for Bonds registered in the name of the new Bondholder which shall be delivered by the Trustee to the Remarketing Agent at or before 2:00 p.m. (12:00 p.m. if the Bonds are not in a Book-Entry System) (New York City time) on the purchase date if the purchase price has been received from the Remarketing Agent by the time set forth in Section 4.11(e) on the purchase date.

Delivery of Remarketed Bonds. (1) Except when the Book-Entry System is in effect, the Trustee shall hold all Bonds delivered pursuant to this Section 4.11 in trust for the benefit of the owners thereof until moneys representing the purchase price Purchase Price of such Bonds shall have been delivered to or for the account of or to the order of such Bondholders, and thereafter, if such Bonds are remarketed, shall deliver replacement Bonds, prepared by the Trustee in accordance with the directions of the Remarketing Agent and authenticated by the Trustee, for any Bonds purchased in accordance with the written directions of the Remarketing Agent, to the Remarketing Agent for delivery to the purchasers thereof. (2) Except in the case of Bonds bearing interest at an Auction Period Rate, the The Remarketing Agent shall advise the Trustee and the Company in writing or by facsimile transmission of (A) the principal amount of Bonds which have been remarketed and that the proceeds of such remarketing have been received by the Remarketing Agent, and, (B) the denominations and registration instructions (including taxpayer identification numbers), in each case, in accordance with the following schedule (all times of which are New York City time): Commercial Paper Period 12:15 p.m. on the purchase date Daily Rate Period 11:45 a.m. on the purchase date Weekly Rate Period 11:45 a.m. on the purchase date Long-Term Interest Rate Period 12:15 p.m. on the purchase date (3) The terms of any sale by the Remarketing Agent shall provide for the authorization of the payment of the purchase price Purchase Price by the Remarketing Agent to the Trustee in exchange for Bonds registered in the name of the new Bondholder which shall be delivered by the Trustee to the Remarketing Agent at or before 2:00 p.m. (12:00 p.m. if the Bonds are not in a Book-Entry System) (New York City time) on the purchase date if the purchase price Purchase Price has been received from the Remarketing Agent by the time set forth in Section 4.11(e) on the purchase date.

Delivery of Remarketed Bonds. (1i) Except when the Booka book-Entry System entry system of registration is in effect, the Trustee shall hold all Bonds delivered pursuant to this Section 4.11 in trust for the benefit of the owners thereof until moneys representing the purchase price of such Bonds shall have been delivered to or for the account of or to the order of such Bondholders, and thereafter, if such Bonds are remarketed, shall deliver replacement Bonds, prepared by the Trustee in accordance with the directions of the Remarketing Agent and authenticated by the Trustee, for any Bonds purchased in accordance with the written directions of the Remarketing Agent, Agent to the Remarketing Agent for delivery to the purchasers thereof. (2ii) Except in the case of Bonds bearing interest at an Auction Period Rate, the The Remarketing Agent shall advise the Trustee and the Company in writing or by facsimile transmission of (A) the principal amount of Bonds which have been remarketed and that the proceeds of such remarketing have been received by the Remarketing Agentremarketed, and, (B) together with the denominations and registration instructions (including taxpayer identification numbers), in each case, ) in accordance with the following schedule (all times of which are New York City time): CURRENT METHOD OF INTEREST RATE TIME BY WHICH INFORMATION DETERMINATION OR, IN CONNECTION TO BE FURNISHED WITH A CHANGE IN SUCH METHOD, THE TO TRUSTEE NEW METHOD OF INTEREST RATE DETERMINATION Commercial Paper Period 12:15 p.m. on the purchase date Daily Rate Period 11:45 a.m. 12:15 p.m. on the purchase date Weekly Rate Period 11:45 a.m. 12:15 p.m. on the purchase date Long-Term Interest Rate Period 12:15 p.m. on the purchase date (3iii) The terms of any sale by the Remarketing Agent shall provide for the authorization of the payment of the purchase price by the Remarketing Agent to the Trustee in exchange for Bonds registered in the name of the new Bondholder which shall be delivered by the Trustee to the Remarketing Agent at or before 2:00 p.m. (12:00 p.m. if the Bonds are not in a Book-Entry System) (New York City time) on the purchase date if the purchase price has been received from the Remarketing Agent by the time set forth in Section 4.11(e3.08(e) on the purchase date.

Delivery of Remarketed Bonds. (1) Except when the Book-Entry System is in effect, the Trustee shall hold all Bonds delivered pursuant to this Section 4.11 in trust for the benefit of the owners thereof until moneys representing the purchase price of such Bonds shall have been delivered to or for the account of or to the order of such Bondholders, and thereafter, if such Bonds are remarketed, shall deliver replacement Bonds, prepared by the Trustee in accordance with the directions of the Remarketing Agent and authenticated by the Trustee, for any Bonds purchased in accordance with the written directions of the Remarketing Agent, to the Remarketing Agent for delivery to the purchasers thereof. (2) Except in the case of Bonds bearing interest at an Auction Period Rate, the Remarketing Agent shall advise the Trustee and the Company in writing or by facsimile transmission of (A) the principal amount of Bonds which have been remarketed and that the proceeds of such remarketing have been received by the Remarketing Agent, and, (B) the denominations and registration instructions (including taxpayer identification numbers), in each case, in accordance with the following schedule (all times of which are New York City time): CURRENT METHOD OF INTEREST RATE DETERMINATION OR, IN CONNECTION WITH A CHANGE IN SUCH METHOD, THE NEW METHOD OF INTEREST RATE DETERMINATION TIME BY WHICH INFORMATION TO BE FURNISHED TO TRUSTEE Commercial Paper Period 12:15 p.m. on the purchase date Daily Rate Period 11:45 a.m. on the purchase date Weekly Rate Period 11:45 a.m. on the purchase date Long-Term Interest Rate Period 12:15 p.m. on the purchase date (3) The terms of any sale by the Remarketing Agent shall provide for the authorization of the payment of the purchase price by the Remarketing Agent to the Trustee in exchange for Bonds registered in the name of the new Bondholder which shall be delivered by the Trustee to the Remarketing Agent at or before 2:00 p.m. (12:00 p.m. if the Bonds are not in a Book-Entry System) (New York City time) on the purchase date if the purchase price has been received from the Remarketing Agent by the time set forth in Section 4.11(e) on the purchase date.