Common use of Deposit of Additional Funds by Company; Redemption of Prior Bonds Clause in Contracts

Deposit of Additional Funds by Company; Redemption of Prior Bonds. The Company covenants that such additional amounts as may be required to redeem the Prior Bonds in accordance with Section 3.1 hereof will be timely deposited with the Prior Trustee pursuant to the Prior Indenture for such purpose. Income derived from the investment of the proceeds of the Bonds deposited in the Prior Bonds Redemption Fund will be used, to the extent available, to satisfy the obligations of the Company specified in this Section 3.2. The Company covenants that it will cause the Prior Bonds to be redeemed within 90 days after the issuance and delivery of the Bonds.

Appears in 4 contracts

Samples: Financing Agreement (Nevada Power Co), Financing Agreement (Nevada Power Co), Financing Agreement (Sierra Pacific Resources /Nv/)

AutoNDA by SimpleDocs

Deposit of Additional Funds by Company; Redemption of Prior Bonds. The Company covenants that such additional amounts as may be required to redeem the Prior Bonds in accordance with Section 3.1 hereof will be timely deposited with the Prior Trustee pursuant to the Prior Indenture Indentures for such purpose. Income derived from the investment of the proceeds of the Bonds deposited in the two accounts of the Prior Bonds Redemption Fund will be used, to the extent available, to satisfy the obligations of the Company specified in this Section 3.2. The Company covenants that it will cause the Prior Bonds to be redeemed within 90 days after the issuance and delivery of the Bonds.

Appears in 2 contracts

Samples: Financing Agreement (Sierra Pacific Resources /Nv/), Financing Agreement (Sierra Pacific Resources /Nv/)

Deposit of Additional Funds by Company; Redemption of Prior Bonds. The Company covenants that such additional amounts as may be required to redeem the Prior Bonds in accordance with Section 3.1 hereof will be timely deposited with the Prior Trustee pursuant to the Prior Indenture Indentures for such purpose. Income derived from the investment of the proceeds of the Bonds deposited in the several accounts of the Prior Bonds Redemption Fund will be used, to the extent available, to satisfy the obligations of the Company specified in this Section 3.2. The Company covenants that it will cause the Prior Bonds to be redeemed within 90 days after the issuance and delivery of the Bonds.

Appears in 1 contract

Samples: Financing Agreement (Sierra Pacific Resources /Nv/)

AutoNDA by SimpleDocs

Deposit of Additional Funds by Company; Redemption of Prior Bonds. The Company covenants that such additional amounts as may be required to redeem the Prior Bonds in accordance with Section 3.1 hereof will be timely deposited with the Prior Trustee Trustees pursuant to the Prior Indenture Indentures for such purpose. Income derived from the investment of the proceeds of the Bonds deposited in the Accounts of the Prior Bonds Redemption Fund will be used, to the extent available, to satisfy the obligations of the Company specified in this Section 3.2. The Company covenants that it will cause the Prior Bonds to be redeemed within 90 days after the issuance and delivery of the Bonds.

Appears in 1 contract

Samples: Financing Agreement (Sierra Pacific Resources /Nv/)

Time is Money Join Law Insider Premium to draft better contracts faster.