Common use of Discharge of Liability on Bonds Clause in Contracts

Discharge of Liability on Bonds. Upon the deposit with the Trustee, in trust, at or before maturity, of money or securities in the necessary amount (as provided in Section 10.03) 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 Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice, then all liability of the Issuer in respect of such Bond shall cease, terminate, become void and be completely discharged and satisfied, except only that thereafter the Holder thereof shall be entitled to payment of the principal or Redemption Price of and interest on such Bond by the Issuer and the Issuer shall remain liable for such payment, but only out of such money or securities deposited with the Trustee as aforesaid for its payment, provided further, however, that the provisions of Section 10.04 shall apply in all events.

Discharge of Liability on Bonds. Upon the deposit with the Trusteedeposit, in trust, at or before maturity, of money or securities in the necessary amount (as provided in Section 10.039.03(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 Article IV Section 2.03 or provision satisfactory to the Trustee Paying Agent shall have been made for the giving of such notice, then all liability of the Issuer District in respect of such Bond shall cease, terminate, become void cease and be completely discharged and satisfieddischarged, except only that thereafter the Holder Owner thereof shall be entitled only to payment of the principal or Redemption Price of and interest on such Bond by the Issuer District, and the Issuer District shall remain liable for such payment, but only out of such money or securities deposited with the Trustee Paying Agent as aforesaid for its such payment, provided further, however, that the provisions of Section 10.04 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.

Discharge of Liability on Bonds. Upon the deposit with the Trustee, in trust, at or before maturity, of money or securities in the necessary amount (as provided in Section 10.03) 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 Article IV provided or provision satisfactory to the Trustee shall have been made for the giving of such notice, then all liability of the Issuer Authority in respect of such Bond shall cease, terminate, become void terminate and be completely discharged and satisfieddischarged, except only that thereafter the Holder Owner thereof shall be entitled to payment of the principal or Redemption Price of and interest on such Bond by the Issuer Authority and the Issuer Authority shall remain liable for such payment, but only out of such money or securities deposited with the Trustee as aforesaid for its their payment, provided further, however, that the provisions of Section 10.04 shall apply in all events. The Authority may at any time surrender to the Trustee for cancellation by it any Bonds previously issued and delivered, which the Authority may have acquired in any manner whatsoever, and such Bonds, upon such surrender and cancellation, shall be deemed to be paid and retired.

Discharge of Liability on Bonds. Upon the deposit with the Trustee, in trust, at or before maturity, of money or securities in the necessary amount (as provided in Section 10.0310.03 hereof) to pay or redeem any Outstanding Bond (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 Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice, then all liability of the Issuer Authority in respect of such Bond shall cease, terminate, become void terminate and be completely discharged and satisfieddischarged, except only that thereafter the Holder thereof shall be entitled to payment of the principal or Redemption Price of and interest on such Bond by the Issuer Bond, and the Issuer Authority shall remain liable for such payment, payment but only out of such the money or securities deposited with the Trustee as aforesaid for its payment, ; provided further, however, that the provisions of Section 10.04 hereof shall apply in all events. The Bonds may at any time be surrendered to the Trustee for cancellation by the Authority or the Corporation, which may have been acquired in any manner whatsoever, and such Bonds, upon such surrender and cancellation, shall be deemed to be paid and retired.

Discharge of Liability on Bonds. Upon the deposit with the Trustee, in trust, at or before maturity, of money or securities in the necessary amount (as provided in Section 10.0311.10) 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 Article IV provided or provision satisfactory to the Trustee shall have been made for the giving of such notice, then all liability of the Issuer Authority in respect of such Bond shall cease, terminate, become void terminate and be completely discharged and satisfieddischarged, except only that thereafter the Holder Owner thereof shall be entitled to payment of the principal or Redemption Price of and interest to the maturity or redemption date on such Bond by the Issuer Authority, and the Issuer Authority shall remain liable for such payment, but only out of such money or securities deposited with the Trustee as aforesaid for its such payment, provided further, however, that the provisions of Section 10.04 shall apply in all events.Section

Discharge of Liability on Bonds. Upon the deposit with the Trustee, in trust, at or before maturity, of money or securities in the necessary amount (as provided in Section 10.03) to pay or redeem any Outstanding Bond Bonds (whether upon or prior to its the maturity or the redemption date of such BondBonds), provided that, if such Bond is Bonds are to be redeemed prior to maturityma- turity, notice of such redemption shall have been given as provided in Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice, then all liability of the Issuer Agency in respect of such Bond Bonds shall cease, terminate, become void terminate and be completely discharged discharged, and satisfied, except only that thereafter the Holder Owners thereof shall thereafter be entitled only to payment of the principal or Redemption Price of and interest on such Bond by the Issuer and the Issuer shall remain liable for such payment, but only out of such money or securities deposited de- posited with the Trustee as aforesaid for its their payment, provided furthersubject, however, that to the provisions of Section 10.04 10.04. The Agency may at any time surrender to the Trustee for cancellation by it any Bonds previously issued and delivered, which the Agency may have acquired in any manner whatso- ever, and such Bonds, upon such surrender and cancellation, shall apply in all eventsbe deemed to be paid and retired.