Common use of Deposit in Trust; Miscellaneous Clause in Contracts

Deposit in Trust; Miscellaneous. All money and U.S. Government Obligations (including the proceeds thereof) deposited with the Defeasance Trustee pursuant to Section 11.4 in respect of any Securities shall be held in trust and applied by the Defeasance Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any Paying Agent as the Defeasance Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal and any premium and interest, and such money shall be segregated from other funds. Any money deposited with the Defeasance Trustee for the payment of the principal of and any premium or interest on any such Security and remaining unclaimed for two (2) years after such principal, premium or interest has become due and payable shall, upon IRSA’s written request, be paid to IRSA; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to IRSA for payment thereof, and all liability of the Defeasance Trustee with respect to such trust money shall thereupon cease. IRSA shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited by IRSA pursuant to Section 11.4 or the principal, premium and interest received in respect thereof, other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Securities. Anything in this Article XI to the contrary notwithstanding, the Defeasance Trustee shall deliver or pay to IRSA from time to time upon the written request of IRSA any money or U.S. Government Obligations held by it on behalf of IRSA as provided in Section 11.4 which, in the opinion of a firm of independent certified public accountants of internationally recognized standing expressed in a written certification thereof delivered to the Defeasance Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent total defeasance or partial defeasance.

Deposit in Trust; Miscellaneous. All money and money, U.S. Government Obligations and Eligible Obligations (including the proceeds thereof) deposited with the Defeasance Trustee pursuant to Section 11.4 15(d) in respect of any the Securities shall be held in trust (which in the case of cash, shall be uninvested) and applied by the Defeasance Trustee, in accordance with the provisions of such the Securities and this IndentureAgreement, to the payment, either directly or through any Paying Agent as the Defeasance Trustee may determine, to the Holders holders of such the Securities, of all sums due and to become due thereon in respect of principal principal, premium, if any, and any premium and interest, and but such money shall need not be segregated from other fundsfunds except to the extent required by law. Any money deposited with the Defeasance Trustee for the payment of the principal of and of, premium, if any, or any premium or interest on any such Security and remaining unclaimed for two (2) years after such principal, premium premium, if any, or interest has become due and payable shall, upon IRSA’s written request, shall be paid to IRSAthe Issuer upon an Order; and the Holder holder of such Security shall thereafter, as an unsecured general creditor, look only to IRSA the Issuer for payment thereof, thereof and all liability of the Defeasance Trustee with respect to such trust money shall thereupon cease. IRSA In the absence of an Order from the Issuer to return unclaimed funds to the Issuer, the Defeasance Trustee shall from time to time deliver all unclaimed funds to or as directed by applicable escheat authorities, as determined by the Defeasance Trustee in its sole discretion, in accordance with the customary practices and procedures of the Defeasance Trustee. The Issuer shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations or Eligible Obligations deposited by IRSA pursuant to Section 11.4 15(d) or the principal, premium principal and interest received in respect thereof, thereof other than any such tax, fee or other charge which by law is for the account of the Holders holders of the Outstanding Securities. Anything in this Article XI Section 15 to the contrary notwithstanding, the Defeasance Trustee shall deliver or pay to IRSA the Issuer from time to time upon the written request of IRSA the Issuer any money or money, U.S. Government Obligations or Eligible Obligations held by it on behalf of IRSA as provided in Section 11.4 15(d) which, in the opinion of a nationally recognized firm of independent certified public accountants of internationally recognized standing expressed in a written certification thereof delivered to the Defeasance Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent total defeasance or partial covenant defeasance.

Deposit in Trust; Miscellaneous. All money and money, U.S. Government Obligations and Eligible Obligations (including the proceeds thereof) deposited with the Defeasance Trustee pursuant to Section 11.4 15(d) in respect of any the Securities shall be held in trust (which in the case of cash, shall be uninvested) and applied by the Defeasance Trustee, in accordance with the provisions of such the Securities and this IndentureAgreement, to the payment, either directly or through any Paying Agent as the Defeasance Trustee may determine, to the Holders holders of such the Securities, of all sums due and to become due thereon in respect of principal and any premium and interest, and but such money shall need not be segregated from other fundsfunds except to the extent required by law. Any money deposited with the Defeasance Trustee for the payment of the principal of and or any premium or interest on any such Security and remaining unclaimed for two (2) years after such principal, premium principal or interest has become due and payable shall, upon IRSA’s written request, shall be paid to IRSAthe Issuer upon Order; and the Holder holder of such Security shall thereafter, as an unsecured general creditor, look only to IRSA the Issuer for payment thereof, thereof and all liability of the Defeasance Trustee with respect to such trust money shall thereupon cease. IRSA In the absence of an Order from the Issuer to return unclaimed funds to the Issuer, the Defeasance Trustee shall from time to time deliver all unclaimed funds to or as directed by applicable escheat authorities, as determined by the Defeasance Trustee in its sole discretion, in accordance with the customary practices and procedures of the Defeasance Trustee. The Issuer shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations or Eligible Obligations deposited by IRSA pursuant to Section 11.4 15(d) or the principal, premium principal and interest received in respect thereof, thereof other than any such tax, fee or other charge which by law is for the account of the Holders holders of the Outstanding Securities. Anything in this Article XI Section 15 to the contrary notwithstanding, the Defeasance Trustee shall deliver or pay to IRSA the Issuer from time to time upon the written request of IRSA the Issuer any money or money, U.S. Government Obligations or Eligible Obligations held by it on behalf of IRSA as provided in Section 11.4 15(d) which, in the opinion of a nationally recognized firm of independent certified public accountants of internationally recognized standing expressed in a written certification thereof delivered to the Defeasance Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent total defeasance or partial covenant defeasance.

Deposit in Trust; Miscellaneous. All money and U.S. Government Obligations (including the proceeds thereof) deposited with the Defeasance Trustee pursuant to Section 11.4 in respect of any Securities shall be held in trust and applied by the Defeasance Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any Paying Agent as the Defeasance Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal and any premium and interest, and such money shall be segregated from other funds. Any money deposited with the Defeasance Trustee for the payment of the principal of and any premium or interest on any such Security and remaining unclaimed for two (2) years after such principal, premium or interest has become due and payable shall, upon IRSAIRSA PC’s written request, be paid to IRSAIRSA PC; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to IRSA PC for payment thereof, and all liability of the Defeasance Trustee with respect to such trust money shall thereupon cease. IRSA PC shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited by IRSA PC pursuant to Section 11.4 or the principal, premium and interest received in respect thereof, other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Securities. Anything in this Article XI to the contrary notwithstanding, the Defeasance Trustee shall deliver or pay to IRSA PC from time to time upon the written request of IRSA PC any money or U.S. Government Obligations held by it on behalf of IRSA PC as provided in Section 11.4 which, in the opinion of a firm of independent certified public accountants of internationally recognized standing expressed in a written certification thereof delivered to the Defeasance Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent total defeasance or partial defeasance.

Deposit in Trust; Miscellaneous. All money and U.S. Government Obligations (including the proceeds thereof) deposited with the Defeasance Trustee pursuant to Section 11.4 16(d) in respect of any the Securities of a Defeasance Group shall be held in trust and applied by the Defeasance Trustee, in accordance with the provisions of such Securities and this IndentureAgreement, to the payment, either directly or through any Paying Agent as the Defeasance Trustee may determine, to the Holders holders of such Securities, of all sums due and to become due thereon in respect of principal and any premium and interest, and but such money shall need not be segregated from other fundsfunds except to the extent required by law. Any money deposited with the Defeasance Trustee for the payment of the principal of (and premium, if any) or any premium or interest on any Security of such Security Defeasance Group and remaining unclaimed for two (2) years after such principalprincipal (and premium, premium if any) or interest has become due and payable shall, upon IRSA’s written request, shall be paid to IRSAthe Corporation on written request of an Authorized Officer; and the Holder holder of such Security shall thereafter, as an unsecured general creditor, look only to IRSA the Corporation for payment thereof, and all liability of the Defeasance Trustee with respect to such trust money shall thereupon cease. IRSA The Corporation shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited by IRSA pursuant to Section 11.4 16(d) or the principal, premium principal and interest received in respect thereof, thereof other than any such tax, fee or other charge which by law is for the account of the Holders holders of the Outstanding SecuritiesSecurities of such Defeasance Group. Anything in this Article XI Section 16 to the contrary notwithstanding, the Defeasance Trustee shall deliver or pay to IRSA the Corporation from time to time upon the written request of IRSA the Corporation any money or U.S. Government Obligations held by it on behalf of IRSA as provided in Section 11.4 16(d) which, in the opinion of a nationally recognized firm of independent certified public accountants of internationally recognized standing expressed in a written certification thereof delivered to the Defeasance Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent total defeasance or partial defeasancecovenant defeasance with respect to the Securities of such Defeasance Group.

Deposit in Trust; Miscellaneous. All money and U.S. Government Obligations (including the proceeds thereof) deposited with the Defeasance Trustee pursuant to Section ‎Section 11.4 in respect of any Securities shall be held in trust and applied by the Defeasance Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any Paying Agent as the Defeasance Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal and any premium and interest, and such money shall be segregated from other funds. Any money deposited with the Defeasance Trustee for the payment of the principal of and any premium or interest on any such Security and remaining unclaimed for two (2) years after such principal, premium or interest has become due and payable shall, upon IRSAIRSA PC’s written request, be paid to IRSAIRSA PC; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to IRSA PC for payment thereof, and all liability of the Defeasance Trustee with respect to such trust money shall thereupon cease. IRSA PC shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited by IRSA PC pursuant to Section ‎Section 11.4 or the principal, premium and interest received in respect thereof, other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Securities. Anything in this Article ‎Article XI to the contrary notwithstanding, the Defeasance Trustee shall deliver or pay to IRSA PC from time to time upon the written request of IRSA PC any money or U.S. Government Obligations held by it on behalf of IRSA PC as provided in Section ‎Section 11.4 which, in the opinion of a firm of independent certified public accountants of internationally recognized standing expressed in a written certification thereof delivered to the Defeasance Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent total defeasance or partial defeasance.

Deposit in Trust; Miscellaneous. All money and money, U.S. Government Obligations and Eligible Obligations (including the proceeds thereof) deposited with the Defeasance Trustee pursuant to Section 11.4 15(d) in respect of any the Securities shall be held in trust and applied by the Defeasance Trustee, in accordance with the provisions of such the Securities and this IndentureAgreement, to the payment, either directly or through any Paying Agent as the Defeasance Trustee may determine, to the Holders holders of such the Securities, of all sums due and to become due thereon in respect of principal and any premium and interest, and but such money shall need not be segregated from other fundsfunds except to the extent required by law. Any money deposited with the Defeasance Trustee for the payment of the principal of and or any premium or interest on any such Security and remaining unclaimed for two (2) years after such principal, premium principal or interest has become due and payable shall, upon IRSA’s written request, shall be paid to IRSAthe Issuer upon Order; and the Holder holder of such Security shall thereafter, as an unsecured general creditor, look only to IRSA the Issuer for payment thereof, thereof and all liability of the Defeasance Trustee with respect to such trust money shall thereupon cease. IRSA In the absence of an Order from the Issuer to return unclaimed funds to the Issuer, the Defeasance Trustee shall from time to time deliver all unclaimed funds to or as directed by applicable escheat authorities, as determined by the Defeasance Trustee in its sole discretion, in accordance with the customary practices and procedures of the Defeasance Trustee. The Issuer shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations or Eligible Obligations deposited by IRSA pursuant to Section 11.4 15(d) or the principal, premium principal and interest received in respect thereof, thereof other than any such tax, fee or other charge which by law is for the account of the Holders holders of the Outstanding Securities. Anything in this Article XI Section 15 to the contrary notwithstanding, the Defeasance Trustee shall deliver or pay to IRSA the Issuer from time to time upon the written request of IRSA the Issuer any money or money, U.S. Government Obligations or Eligible Obligations held by it on behalf of IRSA as provided in Section 11.4 15(d) which, in the opinion of a nationally recognized firm of independent certified public accountants of internationally recognized standing expressed in a written certification thereof delivered to the Defeasance Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent total defeasance or partial covenant defeasance.

Deposit in Trust; Miscellaneous. All money and U.S. Government Obligations (including the proceeds thereof) deposited with the Defeasance Trustee pursuant to Section 11.4 10.4 in respect of any Securities Notes shall be held in trust and applied by the Defeasance Trustee, in accordance with the provisions of such Securities the Notes and this Indenture, to the payment, either directly or through any Paying Agent as the Defeasance Trustee may determine, to the Holders of such SecuritiesNotes, of all sums due and to become due thereon in respect of principal and any premium and interest, and such money shall be segregated from other funds. Any money deposited with the Defeasance Trustee for the payment of the principal of and any premium or interest on any such Security Note and remaining unclaimed for two (2) years after such principal, premium or interest has become due and payable shall, upon IRSAthe Company’s written request, be paid to IRSAthe Company; and the Holder of such Security Note shall thereafter, as an unsecured general creditor, look only to IRSA the Company for payment thereof, and all liability of the Defeasance Trustee with respect to such trust money shall thereupon cease. IRSA The Company shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited by IRSA the Company pursuant to Section 11.4 10.4 or the principal, premium and interest received in respect thereof, other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding SecuritiesNotes. Anything in this Article XI X to the contrary notwithstanding, the Defeasance Trustee shall deliver or pay to IRSA the Company from time to time upon the written request of IRSA the Company any money or U.S. Government Obligations held by it on behalf of IRSA the Company as provided in Section 11.4 10.4 which, in the opinion of a firm of independent certified public accountants of internationally recognized standing expressed in a written certification thereof delivered to the Defeasance Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent total defeasance Total Defeasance or partial defeasancePartial Defeasance.

Deposit in Trust; Miscellaneous. All money and U.S. Government Obligations (including the proceeds thereof) deposited with the Defeasance Trustee pursuant to Section 11.4 in respect of any Securities shall be held in trust and applied by the Defeasance Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any Paying Agent as the Defeasance Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal and any premium and interest, and such money shall be segregated from other funds. Any money deposited with the Defeasance Trustee for the payment of the principal of and any premium or interest on any such Security and remaining unclaimed for two (2) years after such principal, premium or interest has become due and payable shall, upon IRSAAPSA’s written request, be paid to IRSAAPSA; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to IRSA APSA for payment thereof, and all liability of the Defeasance Trustee with respect to such trust money shall thereupon cease. IRSA APSA shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited by IRSA APSA pursuant to Section 11.4 or the principal, premium and interest received in respect thereof, other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Securities. Anything in this Article XI to the contrary notwithstanding, the Defeasance Trustee shall deliver or pay to IRSA APSA from time to time upon the written request of IRSA APSA any money or U.S. Government Obligations held by it on behalf of IRSA APSA as provided in Section 11.4 which, in the opinion of a firm of independent certified public accountants of internationally recognized standing expressed in a written certification thereof delivered to the Defeasance Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent total defeasance or partial defeasance.

Deposit in Trust; Miscellaneous. All money and U.S. Government Obligations (including the proceeds thereof) deposited with the Defeasance Trustee pursuant to Section 11.4 in respect of any Securities shall be held in trust and applied by the Defeasance Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any Paying Agent as the Defeasance Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal and any premium and interest, and such money shall be segregated from other funds. Any money deposited with the Defeasance Trustee for the payment of the principal of and any premium or interest on any such Security and remaining unclaimed for two (2) years after such principal, premium or interest has become due and payable shall, upon IRSA’s written request, be paid to IRSA; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to IRSA for payment thereof, and all liability of the Defeasance Trustee with respect to such trust money shall thereupon cease. IRSA shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited by IRSA pursuant to Section 11.4 or the principal, premium and interest received in respect thereof, 11924629 other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Securities. Anything in this Article XI to the contrary notwithstanding, the Defeasance Trustee shall deliver or pay to IRSA from time to time upon the written request of IRSA any money or U.S. Government Obligations held by it on behalf of IRSA as provided in Section 11.4 which, in the opinion of a firm of independent certified public accountants of internationally recognized standing expressed in a written certification thereof delivered to the Defeasance Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent total defeasance or partial defeasance.

Deposit in Trust; Miscellaneous. All money and U.S. Government Obligations (including the proceeds thereof) deposited with the Defeasance Trustee pursuant to Section 11.4 in respect of any Securities shall be held in trust and applied by the Defeasance Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any Paying Agent as the Defeasance Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal and any premium and interest, and such money shall be segregated from other funds. Any money deposited with the Defeasance Trustee for the payment of the principal of and any premium or interest on any such Security and remaining unclaimed for two (2) years after such principal, premium or interest has become due and payable shall, upon IRSAthe Bank’s written request, be paid to IRSAthe Bank; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to IRSA the Bank for payment thereof, and all liability of the Defeasance Trustee with respect to such trust money shall thereupon cease. IRSA The Bank shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited by IRSA the Bank pursuant to Section 11.4 or the principal, premium and interest received in respect thereof, other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Securities. Anything in this Article XI to the contrary notwithstanding, the Defeasance Trustee shall deliver or pay to IRSA the Bank from time to time upon the written request of IRSA the Bank any money or U.S. Government Obligations held by it on behalf of IRSA the Bank as provided in Section 11.4 which, in the opinion of a firm of U.S. independent certified public accountants of internationally nationally recognized standing expressed in a written certification thereof delivered to the Defeasance Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent total defeasance or partial defeasance.

Deposit in Trust; Miscellaneous. All money and money, U.S. Government Obligations and Eligible Obligations (including the proceeds thereof) deposited with the Defeasance Trustee pursuant to Section 11.4 15(d) in respect of any the Securities shall be held in trust (which in the case of cash, shall be uninvested) and applied by the Defeasance Trustee, in accordance with the provisions of such the Securities and this IndentureAgreement, to the payment, either directly or through any Paying Agent as the Defeasance Trustee may determine, to the Holders holders of such the Securities, of all sums due and to become due thereon in respect of principal principal, premium, if any, and any premium and interest, and but such money shall need not be segregated from other fundsfunds except to the extent required by law. Any money deposited with the Defeasance Trustee for the payment of the principal of and of, premium, if any, or any premium or interest on any such Security and remaining unclaimed for two (2) years after such principal, premium premium, if any, or interest has become due and payable shall, upon IRSA’s written request, shall be paid to IRSAthe Issuer upon an Order; and the Holder holder of such Security shall thereafter, as an unsecured general creditor, look only to IRSA the Issuer for payment thereof, thereof and all liability of the Defeasance Trustee with respect to such trust money shall thereupon cease. IRSA In the absence of an Order from the Issuer to return unclaimed funds to the Issuer, the Defeasance Trustee shall from time to time deliver all unclaimed funds to or as directed by applicable escheat authorities in accordance with the customary practices and procedures of the Defeasance Trustee. The Issuer shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations or Eligible Obligations deposited by IRSA pursuant to Section 11.4 15(d) or the principal, premium principal and interest received in respect thereof, thereof other than any such tax, fee or other charge which by law is for the account of the Holders holders of the Outstanding Securities. Anything in this Article XI Section 15 to the contrary notwithstanding, the Defeasance Trustee shall deliver or pay to IRSA the Issuer from time to time upon the written request of IRSA the Issuer any money or money, U.S. Government Obligations or Eligible Obligations held by it on behalf of IRSA as provided in Section 11.4 15(d) which, in the opinion of a nationally recognized firm of independent certified public accountants of internationally recognized standing expressed in a written certification thereof delivered to the Defeasance Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent total defeasance or partial covenant defeasance.. 30 US-DOCS\147731181.5

Deposit in Trust; Miscellaneous. All money and money, U.S. Government Obligations and Eligible Obligations (including the proceeds thereof) deposited with the Defeasance Trustee pursuant to Section 11.4 15(d) in respect of any the Securities shall be held in trust and applied by the Defeasance Trustee, in accordance with the provisions of such the Securities and this IndentureAgreement, to the payment, either directly or through any Paying Agent as the Defeasance Trustee may determine, to the Holders holders of such the Securities, of all sums due and to become due thereon in respect of principal and any premium and interest, and but such money shall need not be segregated from other fundsfunds except to the extent required by law. Any money deposited with the Defeasance Trustee for the payment of the principal of and or any premium or interest on any such Security and remaining unclaimed for two (2) years after such principal, premium principal or interest has become due and payable shall, upon IRSA’s written request, shall be paid to IRSAthe Issuer or Guarantor, as the case may be, upon Order; and the Holder holder of such Security shall thereafter, as an unsecured general creditor, look only to IRSA the Issuer or Guarantor, as the case may be, for payment thereof, and all liability of the Defeasance Trustee with respect to such trust money shall thereupon cease. IRSA The Issuer and the Guarantor shall pay and indemnify the Defeasance Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations or Eligible Obligations deposited by IRSA pursuant to Section 11.4 15(d) or the principal, premium principal and interest received in respect thereof, thereof other than any such tax, fee or other charge which by law is for the account of the Holders holders of the Outstanding Securities. Anything in this Article XI Section 15 to the contrary notwithstanding, the Defeasance Trustee shall deliver or pay to IRSA the Issuer or Guarantor, as the case may be, from time to time upon the written request of IRSA the Issuer or Guarantor any money or money, U.S. Government Obligations or Eligible Obligations held by it on behalf of IRSA as provided in Section 11.4 15(d) which, in the opinion of a nationally recognized firm of independent certified public accountants of internationally recognized standing expressed in a written certification thereof delivered to the Defeasance Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent total defeasance or partial covenant defeasance.