Common use of Discharge of Obligations Clause in Contracts

Discharge of Obligations. (a) When all or any portion of the Series 2023 Installment Payments shall have become due and payable in accordance herewith or a written notice of the District to the effect that the District intends to prepay all or any portion of the Series 2023 Installment Payments shall have been filed with the Bank; and (b) there shall have been deposited with the Bank at or prior to the date (or dates) specified for prepayment, and irrevocably appropriated and set aside to the payment of all or any portion of the Series 2023 Installment Payments, sufficient moneys and Defeasance Obligations, the principal of and interest on which when due will provide money sufficient, without reinvestment, to pay all principal, prepayment premium, if any, and interest of such Series 2023 Installment Payments to their respective Series 2023 Installment Payment Dates or prepayment date or dates, as the case may be, as evidenced by a special report prepared by an Independent Certified Public Accountant addressed to the Bank; then and in that event, the right, title and interest of the Bank herein and the obligations of the District hereunder shall, with respect to all or such portion of the Series 2023 Installment Payments as have been so provided for, thereupon cease, terminate, become void and be completely discharged and satisfied (except for the right of the Bank and the obligation of the District to have such moneys and such Defeasance Obligations applied to the payment of such Series 2023 Installment Payments, and the obligation of the District to pay any deficiency in such moneys and Permitted Investments). Upon payment in full of the principal component of all Series 2023 Installment Payments plus interest thereon to the date of payment, the Bank shall pay over to the District as an overpayment of Series 2023 Installment Payments, all such moneys or such Defeasance Obligations held by it pursuant hereto other than such moneys and such Defeasance Obligations as are required for the payment or prepayment of the Series 2023 Installment Payments, which moneys and Defeasance Obligations shall continue to be held by the Bank in trust for the payment of the Series 2023 Installment Payments and shall be applied by the Bank to the payment of the Series 2023 Installment Payments of the District.

Discharge of Obligations. (a) When If at any time all Debt Securities of a particular series not heretofore delivered to the Trustee for cancellation or any portion of the Series 2023 Installment Payments shall that have not become due and payable as described in accordance herewith or a written notice of the District to the effect that the District intends to prepay all or any portion of the Series 2023 Installment Payments Section 11.1 shall have been filed paid by the Company by depositing irrevocably with the Bank; and (b) there shall have been deposited with Trustee as trust funds the Bank at entire amount in moneys or prior Governmental Obligations, or a combination thereof, sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof, delivered to the date (Trustee to pay at maturity or dates) specified for prepayment, and irrevocably appropriated and set aside upon redemption under arrangements satisfactory to the payment Trustee for the giving of notice of redemption all or any portion such Debt Securities of that series not theretofore delivered to the Series 2023 Installment PaymentsTrustee for cancellation, sufficient moneys including principal (and Defeasance Obligations, the principal of and interest on which when due will provide money sufficient, without reinvestment, to pay all principal, prepayment premium, if any, ) and interest due or to become due to such date of such Series 2023 Installment Payments to their respective Series 2023 Installment Payment Dates maturity or prepayment date or datesfixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder by the Company with respect to such series, then after the date such moneys or Governmental Obligations, as evidenced by a special report prepared by an Independent Certified Public Accountant addressed the case may be, are deposited with the Trustee then, and if the Company has delivered to the Bank; then Trustee an Opinion of Counsel based on the fact that (x) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (y) since the date hereof, there has been a change in the applicable United States federal income tax law, in either case to the effect that, and such opinion shall confirm that, the holders of the Debt Securities of such series will not recognize income, gain or loss for United States federal income tax purposes as a result of such deposit, defeasance and discharge and will be subject to United States federal income tax on the same amount and in that eventthe same manner and at the same times, as would have been the rightcase if such deposit, title defeasance and interest of the Bank herein and discharge had not occurred, the obligations of the District hereunder shallCompany, under this Indenture with respect to all or such portion series shall cease to be of the Series 2023 Installment Payments as have been so provided for, thereupon cease, terminate, become void and be completely discharged and satisfied (further effect except for the right provisions of the Bank and the obligation of the District to have such moneys and such Defeasance Obligations applied to the payment of such Series 2023 Installment PaymentsSections 2.3, 2.5, 2.7, 4.1, 4.2, 4.3, and the obligation of the District 7.10 hereof that shall survive until such Debt Securities shall mature and be paid, and Sections 7.6 and 11.5 shall survive to pay any deficiency in such moneys date and Permitted Investments). Upon payment in full of the principal component of all Series 2023 Installment Payments plus interest thereon to the date of payment, the Bank shall pay over to the District as an overpayment of Series 2023 Installment Payments, all such moneys or such Defeasance Obligations held by it pursuant hereto other than such moneys and such Defeasance Obligations as are required for the payment or prepayment of the Series 2023 Installment Payments, which moneys and Defeasance Obligations shall continue to be held by the Bank in trust for the payment of the Series 2023 Installment Payments and shall be applied by the Bank to the payment of the Series 2023 Installment Payments of the Districtthereafter.

Discharge of Obligations. When: (a) When all or any portion of the Series 2023 2010 Installment Payments shall have become due and payable in accordance herewith or a written notice of the District to the effect that the District intends City to prepay all or any portion of the Series 2023 2010 Installment Payments shall have been filed with the BankTrustee; and (b) there shall have been deposited with the Bank Trustee at or prior to the Series 2010 Installment Payment Dates or date (or dates) specified for prepayment, in trust for the benefit of the Authority or its assigns and irrevocably appropriated and set aside to the payment of all or any portion of the Series 2023 2010 Installment Payments, Defeasance Securities in a sufficient moneys and Defeasance Obligations, the principal of and interest on which when due will provide money sufficient, without reinvestment, amount to pay all principal, prepayment premium, if any, and interest of such Series 2023 2010 Installment Payments to their respective Series 2023 2010 Installment Payment Dates or prepayment date or dates, dates as the case may be; and (c) provision shall have been made for paying all fees and expenses of the Trustee, as evidenced by a special report prepared by an Independent Certified Public Accountant addressed to the Bank; then and in that event, if an opinion of Bond Counsel is filed with the Trustee to the effect that the actions authorized by and taken pursuant to this Article IX shall not adversely affect the tax exempt status of the interest portion of the Series 2010 Installment Payments, the right, title and interest of the Bank Authority herein and the obligations of the District City hereunder shall, with respect to all or such portion of the Series 2023 2010 Installment Payments as have been so provided for, thereupon cease, terminate, become void and be completely discharged and satisfied (except for the right of the Bank Trustee and the obligation of the District City to have such moneys and such Defeasance Obligations Permitted Investments applied to the payment of such Series 2023 2010 Installment Payments). In such event, and the obligation upon request of the District City the Trustee shall cause an accounting for such period or periods as may be requested by the City to pay any deficiency in such moneys be prepared and Permitted Investments). Upon payment in full of filed with the principal component of all Series 2023 Installment Payments plus interest thereon City and shall execute and deliver to the date City all such instruments as may be necessary or desirable to evidence such total or partial discharge and satisfaction, as the case may be, and, in the event of paymenta total discharge and satisfaction, the Bank Trustee shall pay over to the District City, after payment of all amounts due the Trustee pursuant to the Trust Agreement, as an overpayment of Series 2023 2010 Installment Payments, all such moneys or such Defeasance Obligations Permitted Investments held by it pursuant hereto other than such moneys and such Defeasance Obligations Permitted Investments as are required for the payment or prepayment of the Series 2023 2010 Installment Payments, which moneys and Defeasance Obligations Permitted Investments shall continue to be held by the Bank Trustee in trust for the payment of the Series 2023 2010 Installment Payments and shall be applied by the Bank Trustee to the payment of the Series 2023 2010 Installment Payments of the DistrictCity.

Discharge of Obligations. (a) When If at any time all Debt Securities of a particular series not heretofore delivered to the Trustee for cancellation or any portion of the Series 2023 Installment Payments shall that have not become due and payable as described in accordance herewith or a written notice of the District to the effect that the District intends to prepay all or any portion of the Series 2023 Installment Payments Section 11.1 shall have been filed paid by the Company by depositing irrevocably with the Bank; and (b) there shall have been deposited with Trustee as trust funds the Bank at entire amount in moneys or prior Governmental Obligations, or a combination thereof, sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof, delivered to the date (Trustee to pay at maturity or dates) specified for prepayment, and irrevocably appropriated and set aside upon redemption under arrangements satisfactory to the payment Trustee for the giving of notice of redemption all or any portion such Debt Securities of that series not theretofore delivered to the Series 2023 Installment PaymentsTrustee for cancellation, sufficient moneys including principal (and Defeasance Obligations, the principal of and interest on which when due will provide money sufficient, without reinvestment, to pay all principal, prepayment premium, if any, ) and interest due or to become due to such date of such Series 2023 Installment Payments to their respective Series 2023 Installment Payment Dates maturity or prepayment date or datesfixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder by the Company with respect to such series, then after the date such moneys or Governmental Obligations, as evidenced by a special report prepared by an Independent Certified Public Accountant addressed the case may be, are deposited with the Trustee then, and if the Company has delivered to the Bank; then Trustee an Opinion of Counsel based on the fact that (x) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (y) since the date hereof, there has been a change in the applicable United States federal income tax law, in either case to the effect that, and such opinion shall confirm that, the holders of the Debt Securities of such series will not recognize income, gain or loss for United States federal income tax purposes as a result of such deposit, defeasance and discharge and will be subject to United States federal income tax on the same amount and in that eventthe same manner and at the same times, as would have been the rightcase if such deposit, title defeasance and interest of the Bank herein and discharge had not occurred, the obligations of the District hereunder shallCompany, under this Indenture with respect to all or such portion series shall cease to be of the Series 2023 Installment Payments as have been so provided for, thereupon cease, terminate, become void and be completely discharged and satisfied (further effect except for the right provisions of the Bank and the obligation of the District to have such moneys and such Defeasance Obligations applied to the payment of such Series 2023 Installment PaymentsSections 2.3, 2.5, 2.7, 4.1, 4.2, 4.3, and the obligation of the District 7.10 hereof that shall survive until such Debt Securities shall mature and be paid, and Sections 7.6 and 11.5 that shall survive to pay any deficiency in such moneys date and Permitted Investments). Upon payment in full of the principal component of all Series 2023 Installment Payments plus interest thereon to the date of payment, the Bank shall pay over to the District as an overpayment of Series 2023 Installment Payments, all such moneys or such Defeasance Obligations held by it pursuant hereto other than such moneys and such Defeasance Obligations as are required for the payment or prepayment of the Series 2023 Installment Payments, which moneys and Defeasance Obligations shall continue to be held by the Bank in trust for the payment of the Series 2023 Installment Payments and shall be applied by the Bank to the payment of the Series 2023 Installment Payments of the Districtthereafter.

Discharge of Obligations. (a) When If at any time all Debt Securities of a particular series not heretofore delivered to the Trustee for cancellation or any portion of the Series 2023 Installment Payments shall that have not become due and payable as described in accordance herewith or a written notice of the District to the effect that the District intends to prepay all or any portion of the Series 2023 Installment Payments Section 11.01 shall have been filed paid by the Company by depositing irrevocably with the Bank; and (b) there shall have been deposited with Trustee as trust funds the Bank at entire amount in moneys or prior Governmental Obligations, or a combination thereof, sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof, delivered to the date (Trustee to pay at maturity or dates) specified for prepayment, and irrevocably appropriated and set aside upon redemption under arrangements satisfactory to the payment Trustee for the giving of notice of redemption all or any portion such Debt Securities of that series not theretofore delivered to the Series 2023 Installment PaymentsTrustee for cancellation, sufficient moneys including principal (and Defeasance Obligations, the principal of and interest on which when due will provide money sufficient, without reinvestment, to pay all principal, prepayment premium, if any, ) and interest due or to become due to such date of such Series 2023 Installment Payments to their respective Series 2023 Installment Payment Dates maturity or prepayment date or datesfixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder by the Company with respect to such series, then after the date such moneys or Governmental Obligations, as evidenced by a special report prepared by an Independent Certified Public Accountant addressed the case may be, are deposited with the Trustee then, if the Company has delivered to the Bank; then Trustee an Opinion of Counsel based on the fact that (x) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (y) since the date hereof, there has been a change in the applicable United States federal income tax law, in either case to the effect that, and such opinion shall confirm that, the holders of the Debt Securities of such series will not recognize income, gain or loss for United States federal income tax purposes as a result of such deposit, defeasance and discharge and will be subject to United States federal income tax on the same amount and in that eventthe same manner and at the same times, as would have been the rightcase if such deposit, title defeasance and interest of the Bank herein and discharge had not occurred, the obligations of the District hereunder shallCompany, under this Indenture with respect to all or such portion series shall cease to be of the Series 2023 Installment Payments as have been so provided for, thereupon cease, terminate, become void and be completely discharged and satisfied (further effect except for the right provisions of the Bank Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03, 7.06, 7.10 and the obligation of the District to have 11.05 hereof that shall survive until such moneys Debt Securities shall mature and such Defeasance Obligations applied to the payment of such Series 2023 Installment Paymentsbe paid. Thereafter, Sections 7.06 and the obligation of the District to pay any deficiency in such moneys and Permitted Investments). Upon payment in full of the principal component of all Series 2023 Installment Payments plus interest thereon to the date of payment, the Bank 11.05 shall pay over to the District as an overpayment of Series 2023 Installment Payments, all such moneys or such Defeasance Obligations held by it pursuant hereto other than such moneys and such Defeasance Obligations as are required for the payment or prepayment of the Series 2023 Installment Payments, which moneys and Defeasance Obligations shall continue to be held by the Bank in trust for the payment of the Series 2023 Installment Payments and shall be applied by the Bank to the payment of the Series 2023 Installment Payments of the Districtsurvive.

Discharge of Obligations. When (a) When all or any portion of the Series 2023 2022 Installment Payments shall have become due and payable in accordance herewith or a written notice of the District to the effect that the District intends to prepay all or any portion of the Series 2023 2022 Installment Payments shall have been filed with the BankPurchaser; and (b) there shall have been deposited with the Bank Purchaser, or a third party escrow agent, at or prior to the Series 2022 Installment Payment Dates or date (or dates) specified for prepayment, in trust for the benefit of the Purchaser or its assigns and irrevocably appropriated and set aside to the payment of all or any portion of the Series 2023 2022 Installment Payments, sufficient moneys and non-callable Defeasance ObligationsSecurities, the principal of and interest on which when due will provide money sufficient, without reinvestment, sufficient to pay all principal, prepayment premium, if any, and interest of such Series 2023 2022 Installment Payments to their respective Series 2023 2022 Installment Payment Dates or prepayment date or dates, dates as the case may be; and (c) provision shall have been made for paying all fees and expenses of the Purchaser, as evidenced by a special report prepared by an Independent Certified Public Accountant addressed to the Bank; then and in that event, the right, title and interest of the Bank Purchaser herein and the obligations of the District hereunder shall, with respect to all or such portion of the Series 2023 2022 Installment Payments as have been so provided for, thereupon cease, terminate, become void and be completely discharged and satisfied (except for the right rights of the Bank Purchaser and the obligation of the District to have such moneys and such Defeasance Obligations Securities applied to the payment of such Series 2023 2022 Installment Payments). In such event, and the obligation upon request of the District the Purchaser shall cause an accounting for such period or periods as may be requested by the District to pay any deficiency in such moneys be prepared and Permitted Investments). Upon payment in full of filed with the principal component of all Series 2023 Installment Payments plus interest thereon District and shall execute and deliver to the date District all such instruments as may be necessary or desirable to evidence such total or partial discharge and satisfaction, as the case may be, and, in the event of paymenta total discharge and satisfaction, the Bank Purchaser or third party escrow agent shall pay over to the District as an overpayment of Series 2023 Installment Payments, all such moneys or such Defeasance Obligations Securities held by it pursuant hereto other than such moneys and such Defeasance Obligations Securities, as are required for the payment or prepayment of the Series 2023 2022 Installment Payments, which moneys and Defeasance Obligations Securities shall continue to be held by the Bank Purchaser or third party escrow agent in trust for the payment of the Series 2023 2022 Installment Payments and shall be applied by the Bank to the payment of the Series 2023 2022 Installment Payments of the District.

Discharge of Obligations. (a) When If the District shall pay or cause to be paid all or any portion of the Series 2023 2015 Installment Payments shall have become due at the times and payable in accordance herewith or a written notice of the District to the effect that the District intends to prepay all or any portion of the Series 2023 Installment Payments shall have been filed with the Bank; and (b) there shall have been deposited with the Bank at or prior to the date (or dates) specified for prepaymentmanner provided herein, and irrevocably appropriated and set aside to the payment of all or any portion of the Series 2023 Installment Payments, sufficient moneys and Defeasance Obligations, the principal of and interest on which when due will provide money sufficient, without reinvestment, to pay all principal, prepayment premium, if any, and interest of such Series 2023 Installment Payments to their respective Series 2023 Installment Payment Dates or prepayment date or dates, as the case may be, as evidenced by a special report prepared by an Independent Certified Public Accountant addressed to the Bank; then and in that eventPolicy Costs, the right, title and interest of the Bank Authority herein and the obligations of the District hereunder shall, with respect to all or such portion of the Series 2023 Installment Payments as have been so provided for, shall thereupon cease, terminate, become void and be completely discharged and satisfied satisfied. (except for the right b) Any unpaid principal installment of the Bank 2015 Installment Payments shall on its payment date or date of prepayment be deemed to have been paid within the meaning of and with the obligation effect expressed in subsection (a) of this section if the District makes payment of such 2015 Installment Payments in the manner provided herein. (c) All or any portion of unpaid principal installments of the 2015 Installment Payments shall, prior to their payment dates or dates of prepayment, be deemed to have been paid within the meaning of and with the effect expressed in subsection (a) of this section if (i) notice is provided by the District to the Trustee as required by the Trust Agreement, (ii) there shall have been deposited with the Trustee either money in an amount which shall be sufficient, or Federal Securities which are not subject to redemption prior to maturity, the interest on and principal of which when paid will provide money which, together with money, if any, deposited with the Trustee, shall be sufficient to pay when due the principal installments of such moneys 2015 Installment Payments or such portions thereof on and such Defeasance Obligations applied prior to their payment dates or their dates of prepayment, as the case may be, and the prepayment premiums, if any, applicable thereto, as evidenced by a report of an Independent Certified Public Accountant, and (iii) an opinion of nationally recognized bond counsel is filed with the Trustee to the effect that the action taken pursuant to this subsection will not cause the interest on the 2015 Bonds to be includable in gross income under the Code for federal income tax purposes. (d) After the payment of all 2015 Installment Payments and prepayment premiums, if any, as provided in this section, and payment of all fees and expenses of the Trustee, the Trustee, upon request of the District, shall cause an accounting, with respect to amounts received, disbursed or held by the Trustee for such Series 2023 Installment Paymentsperiod or periods as may be requested by the District to be prepared and filed with the District and the Authority and shall execute and deliver to the District and the Authority all such instruments as may be necessary or desirable to evidence such total discharge and satisfaction of the Integrated Waste Management Improvement Agreement, and the obligation of the District to pay any deficiency in such moneys and Permitted Investments). Upon payment in full of the principal component of all Series 2023 Installment Payments plus interest thereon to the date of payment, the Bank Trustee shall pay over and deliver to the District District, as an overpayment of Series 2023 2015 Installment Payments, all such moneys money or such Defeasance Obligations investments held by it pursuant hereto other than such moneys money and such Defeasance Obligations investments as are required for the payment or prepayment of the Series 2023 2015 Installment Payments, which moneys money and Defeasance Obligations investments shall continue to be held by the Bank Trustee in trust for the payment of the Series 2023 2015 Installment Payments and shall be applied by the Bank Trustee pursuant to the Trust Agreement, and for the payment of the Series 2023 Installment Payments fees and expenses of the DistrictTrustee.

Discharge of Obligations. (a) When If the District shall pay or cause to be paid all or any portion of the Series 2023 2010 Installment Payments shall have become due and payable in accordance herewith or a written notice of at the District to the effect that the District intends to prepay all or any portion of the Series 2023 Installment Payments shall have been filed with the Bank; and (b) there shall have been deposited with the Bank at or prior to the date (or dates) specified for prepayment, and irrevocably appropriated and set aside to the payment of all or any portion of the Series 2023 Installment Payments, sufficient moneys and Defeasance Obligations, the principal of and interest on which when due will provide money sufficient, without reinvestment, to pay all principal, prepayment premium, if any, and interest of such Series 2023 Installment Payments to their respective Series 2023 Installment Payment Dates or prepayment date or dates, as the case may be, as evidenced by a special report prepared by an Independent Certified Public Accountant addressed to the Bank; then times and in that eventthe manner provided herein, the right, title and interest of the Bank Corporation herein and the obligations of the District hereunder shall, with respect to all or such portion of the Series 2023 Installment Payments as have been so provided for, shall thereupon cease, terminate, become void and be completely discharged and satisfied satisfied. (b) All or any portion of any unpaid principal installment of the 2010 Installment Payments shall on its scheduled payment date or date of prepayment be deemed to have been paid within the meaning of and with the effect expressed in subsection (a) of this section if the District makes payment of such 2010 Installment Payments and the interest and prepayment premium, if applicable, thereon in the manner provided herein, and money for the purpose of such payment or prepayment is then held by the Trustee. (c) All or any portion of unpaid principal installment of the 2010 Installment Payments shall, prior to its scheduled payment date or date of prepayment, be deemed to have been paid within the meaning of and with the effect expressed in subsection (a) of this section (except for the right of the Bank and the obligation of that the District to have such moneys and such Defeasance Obligations applied to shall remain liable for the payment of such Series 2023 2010 Installment Payments, but only out of the money or securities deposited with the Trustee or an escrow agent as hereinafter described) if (i) there shall have been deposited with the Trustee or such escrow agent either money in an amount which shall be sufficient, or Federal Securities which are not subject to redemption prior to maturity except by the holder thereof (including any such Federal Securities issued or held in book entry form) the interest on and principal of which when paid will provide money which, together with money, if any, deposited with the Trustee or such escrow agent at the same time, shall be sufficient, as stated in a report of an Independent Certified Public Accountant addressed to the District and the obligation Trustee, to pay when due the principal installments of such 2010 Installment Payments or such portions thereof and the interest and prepayment premiums, if any, thereon on and prior to their payment dates or their dates of prepayment, as the case may be, (ii) notice of such deposit is given by the District to pay any deficiency the Trustee, and (iii) an Opinion of Counsel (as the term is defined in such moneys and Permitted Investments). Upon payment in full of the principal component of all Series 2023 Installment Payments plus interest thereon to the date of payment, the Bank shall pay over Trust Agreement) addressed to the District as an overpayment of Series 2023 Installment Payments, all such moneys or such Defeasance Obligations held by it and the Trustee is filed with the Trustee to the effect that the action taken pursuant hereto other than such moneys and such Defeasance Obligations as are required for to this subsection will not cause the payment or prepayment interest installments of the Series 2023 2010 Installment Payments, which moneys and Defeasance Obligations shall continue Payments not to be held by the Bank in trust for the payment exempt from State of the Series 2023 Installment Payments and shall be applied by the Bank to the payment of the Series 2023 Installment Payments of the DistrictCalifornia personal income taxes.

Discharge of Obligations. (a) When If at any time all Debt Securities of a particular series not heretofore delivered to the Trustee for cancellation or any portion of the Series 2023 Installment Payments shall that have not become due and payable as described in accordance herewith or a written notice of the District to the effect that the District intends to prepay all or any portion of the Series 2023 Installment Payments Section 11.1 shall have been filed paid by the Company by depositing irrevocably with the Bank; and (b) there shall have been deposited with Trustee as trust funds the Bank at entire amount in moneys or prior Governmental Obligations, or a combination thereof, sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof, delivered to the date (Trustee to pay at maturity or dates) specified for prepayment, and irrevocably appropriated and set aside upon redemption under arrangements satisfactory to the payment Trustee for the giving of notice of redemption all or any portion such Debt Securities of that series not theretofore delivered to the Series 2023 Installment PaymentsTrustee for cancellation, sufficient moneys including principal (and Defeasance Obligations, the principal of and interest on which when due will provide money sufficient, without reinvestment, to pay all principal, prepayment premium, if any, ) and interest due or to become due to such date of such Series 2023 Installment Payments to their respective Series 2023 Installment Payment Dates maturity or prepayment date or datesfixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder by the Company with respect to such series, then after the date such moneys or Governmental Obligations, as evidenced by a special report prepared by an Independent Certified Public Accountant addressed the case may be, are deposited with the Trustee then, and if the Company has delivered to the Bank; then Trustee an Opinion of Counsel based on the fact that (x) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (y) since the date hereof, there has been a change in the applicable United States federal income tax law, in either case to the effect that, and such opinion shall confirm that, the holders of the Debt Securities of such series will not recognize income, gain or loss for United States federal income tax purposes as a result of such deposit, defeasance and discharge and will be subject to United States federal income tax on the same amount and in that eventthe same manner and at the same times, as would have been the rightcase if such deposit, title defeasance and interest of the Bank herein and discharge had not occurred, the obligations of the District hereunder shallCompany, under this Indenture with respect to all or such portion series shall cease to be of further effect excpt for the Series 2023 Installment Payments as have been so provided forprovisions of Sections 2.3, thereupon cease2.5, terminate2.7, become void 4.1, 4.2, 4.3, and 7.10 hereof that shall survive until such Debt Securities shall mature and be completely discharged and satisfied (except for the right of the Bank and the obligation of the District to have such moneys and such Defeasance Obligations applied to the payment of such Series 2023 Installment Paymentspaid, and the obligation of the District Sections 7.6 and 11.5 shall survive to pay any deficiency in such moneys date and Permitted Investments). Upon payment in full of the principal component of all Series 2023 Installment Payments plus interest thereon to the date of payment, the Bank shall pay over to the District as an overpayment of Series 2023 Installment Payments, all such moneys or such Defeasance Obligations held by it pursuant hereto other than such moneys and such Defeasance Obligations as are required for the payment or prepayment of the Series 2023 Installment Payments, which moneys and Defeasance Obligations shall continue to be held by the Bank in trust for the payment of the Series 2023 Installment Payments and shall be applied by the Bank to the payment of the Series 2023 Installment Payments of the Districtthereafter.

Discharge of Obligations. When: (a) When all or any portion of the Series 2023 2020 Installment Payments shall have become due and payable in accordance herewith or a written notice of the District to the effect that the District intends Agency to prepay all or any portion of the Series 2023 2020 Installment Payments shall have been filed with the BankTrustee; and (b) there shall have been deposited with the Bank Trustee at or prior to the 2020 Installment Payment Dates or date (or dates) specified for prepayment, in trust for the benefit of the Authority or its assigns and irrevocably appropriated and set aside to the payment of all or any portion of the Series 2023 2020 Installment Payments, sufficient moneys and Defeasance Obligationsnon-callable Permitted Investments, issued by the United States of America and described in clauses (a) or (b) of the definition thereof, the principal of and interest on which when due will provide money sufficient, without reinvestment, sufficient to pay all principal, prepayment premium, if any, and interest of such Series 2023 2020 Installment Payments to their respective Series 2023 2020 Installment Payment Dates or prepayment date or dates, dates as the case may be, as evidenced by a special report prepared by an Independent Certified Public Accountant addressed to ; and (c) provision shall have been made for paying all fees and expenses of the BankTrustee; then and in that event, the right, title and interest of the Bank Authority herein and the obligations of the District Agency hereunder shall, with respect to all or such portion of the Series 2023 2020 Installment Payments as have been so provided for, thereupon cease, terminate, become void and be completely discharged and satisfied (except for the right of the Bank Trustee and the obligation of the District Agency to have such moneys and such Defeasance Obligations Permitted Investments applied to the payment of such Series 2023 2020 Installment Payments). In such event, and the obligation upon request of the District Agency, the Trustee shall cause an accounting for such period or periods as may be requested by the Agency to pay any deficiency in such moneys be prepared and Permitted Investments). Upon payment in full of filed with the principal component of all Series 2023 Installment Payments plus interest thereon Agency and shall execute and deliver to the date Agency all such instruments as may be necessary or desirable to evidence such total or partial discharge and satisfaction, as the case may be, and, in the event of paymenta total discharge and satisfaction, the Bank Trustee shall pay over to the District Agency, after payment of all amounts due the Trustee pursuant to the Indenture, as an overpayment of Series 2023 2020 Installment Payments, all such moneys or such Defeasance Obligations Permitted Investments held by it pursuant hereto other than such moneys and such Defeasance Obligations Permitted Investments, as are required for the payment or prepayment of the Series 2023 2020 Installment Payments, which moneys and Defeasance Obligations Permitted Investments shall continue to be held by the Bank Trustee in trust for the payment of the Series 2023 2020 Installment Payments and shall be applied by the Bank Trustee to the payment of the Series 2023 2020 Installment Payments of the DistrictAgency.

Discharge of Obligations. (a) When If the City shall pay or cause to be paid all the 2021 Installment Sale Payments at the times and in the manner provided herein,[ and all amounts owed the Insurer shall have been paid in full,] the right, title, and interest of the Authority herein and the obligations of the City hereunder shall thereupon cease, terminate, become void, and be completely discharged and satisfied. (b) Any unpaid principal installment of the 2021 Installment Sale Payments shall, on its payment date or date of prepayment, be deemed to have been paid within the meaning of and with the effect expressed in subsection (a) of this section if the City makes payment of such 2021 Installment Sale Payments and the prepayment premium, if applicable, in the manner provided herein. (c) All or any portion of the Series 2023 Installment Payments shall have become due and payable in accordance herewith or a written notice unpaid principal installments of the District 2021 Installment Sale Payments shall, prior to their payment dates or dates of prepayment, be deemed to have been paid within the meaning of and with the effect expressed in subsection (a) of this section if (i) notice is provided by the City to the effect that Trustee as required by the District intends to prepay all or any portion of the Series 2023 Installment Payments shall have been filed with the Bank; and Trust Agreement, (bii) there shall have been deposited with the Bank at or prior to the date (or dates) specified for prepayment, and irrevocably appropriated and set aside to the payment of all or any portion of the Series 2023 Installment Payments, sufficient moneys and Defeasance Obligations, the principal of and interest on Trustee either money in an amount which when due will provide money shall be sufficient, without reinvestmentor Defeasance Obligations (as that term is defined in the Trust Agreement) which, to pay all principal, prepayment premiumtogether with money, if any, and deposited with the Trustee, shall be sufficient, in the opinion of an Independent Certified Public Accountant, to pay when due the interest to become due with respect to the principal installments of such Series 2023 2021 Installment Sale Payments and the principal installments of such 2021 Installment Sale Payments or such portions thereof on and prior to their respective Series 2023 Installment Payment Dates payment dates or prepayment date or datestheir dates of prepayment, as the case may be, as evidenced by a special report prepared by and the prepayment premiums, if any, applicable thereto and (iii) an Independent Certified Public Accountant addressed opinion of nationally recognized bond counsel is filed with the Trustee to the Bank; then and in effect that event, the right, title and action taken pursuant to this subsection will not cause the interest of on the Bank herein and the obligations of the District hereunder shall, with respect to all or such portion of the Series 2023 Installment Payments as have been so provided for, thereupon cease, terminate, become void and be completely discharged and satisfied (except for the right of the Bank and the obligation of the District to have such moneys and such Defeasance Obligations applied to the payment of such Series 2023 Installment Payments, and the obligation of the District to pay any deficiency in such moneys and Permitted Investments). Upon payment in full of the principal component of all Series 2023 Installment Payments plus interest thereon to the date of payment, the Bank shall pay over to the District as an overpayment of Series 2023 Installment Payments, all such moneys or such Defeasance Obligations held by it pursuant hereto other than such moneys and such Defeasance Obligations as are required for the payment or prepayment of the Series 2023 Installment Payments, which moneys and Defeasance Obligations shall continue Bonds to be held by includable in gross income under the Bank in trust Code for the payment of the Series 2023 Installment Payments and shall be applied by the Bank to the payment of the Series 2023 Installment Payments of the Districtfederal income tax purposes.

Discharge of Obligations. (a) When If the Local Agency shall pay or cause to be paid all or any portion of the Series 2023 2020 Installment Sale Payments shall have become due at the times and payable in accordance herewith or a written notice of the District to manner provided herein, and all amounts owed the effect that the District intends to prepay all or any portion of the Series 2023 Installment Payments Insurer shall have been filed with the Bank; and (b) there shall have been deposited with the Bank at or prior to the date (or dates) specified for prepayment, and irrevocably appropriated and set aside to the payment of all or any portion of the Series 2023 Installment Payments, sufficient moneys and Defeasance Obligations, the principal of and interest on which when due will provide money sufficient, without reinvestment, to pay all principal, prepayment premium, if any, and interest of such Series 2023 Installment Payments to their respective Series 2023 Installment Payment Dates or prepayment date or dates, as the case may be, as evidenced by a special report prepared by an Independent Certified Public Accountant addressed to the Bank; then and paid in that eventfull, the right, title and interest of the Bank Authority herein and the obligations of the District Local Agency hereunder shall, with respect to all or such portion of the Series 2023 Installment Payments as have been so provided for, shall thereupon cease, terminate, become void and be completely discharged and satisfied satisfied. (except for the right b) Any unpaid principal installment of the Bank 2020 Installment Sale Payments shall on its payment date or date of prepayment be deemed to have been paid within the meaning of and with the effect expressed in subsection (a) of this section if the Local Agency makes payment of such 2020 Installment Sale Payments and the obligation prepayment premium, if applicable, in the manner provided herein. (c) All or any portion of unpaid principal installments of the District 2020 Installment Sale Payments shall, prior to their payment dates or dates of prepayment, be deemed to have such moneys been paid within the meaning of and such with the effect expressed in subsection (a) of this section if (i) notice is provided by the Local Agency to the Trustee as required by the Trust Agreement, and (ii) there shall have been deposited with the Trustee either money in an amount which shall be sufficient, or Defeasance Obligations applied (as that term is defined in the Trust Agreement) which, together with money, if any, deposited with the Trustee, shall be sufficient, in the opinion of an Independent Certified Public Accountant, to pay when due the interest to become due with respect to the principal installments of such 2020 Installment Sale Payments and the principal installments of such 2020 Installment Sale Payments or such portions thereof on and prior to their payment dates or their dates of prepayment, as the case may be, and the prepayment premiums, if any, applicable thereto. (d) After the payment of all 2020 Installment Sale Payments and prepayment premiums, if any, as provided in this section, and payment of all fees and expenses of the Trustee, the Trustee, upon request of the Local Agency, shall cause an accounting for such Series 2023 period or periods as may be requested by the Local Agency to be prepared and filed with the Local Agency and the Authority and shall execute and deliver to the Local Agency and the Authority all such instruments as may be necessary or desirable to evidence such total discharge and satisfaction of the 2020 Installment PaymentsSale Agreement, and the obligation of the District to pay any deficiency in such moneys and Permitted Investments). Upon payment in full of the principal component of all Series 2023 Installment Payments plus interest thereon to the date of payment, the Bank Trustee shall pay over and deliver to the District Local Agency, as an overpayment of Series 2023 2020 Installment Sale Payments, all such moneys money or such Defeasance Obligations investments held by it pursuant hereto other than such moneys money and such Defeasance Obligations investments as are required for the payment or prepayment of the Series 2023 2020 Installment Sale Payments, which moneys money and Defeasance Obligations investments shall continue to be held uninvested by the Bank Trustee in trust for the payment of the Series 2023 2020 Installment Sale Payments and shall be applied by the Bank Trustee pursuant to the payment of the Series 2023 Installment Payments of the DistrictTrust Agreement.

Discharge of Obligations. At the Company's option, either (a) When all or any portion of the Series 2023 Installment Payments Company shall have become due and payable in accordance herewith or a written notice of the District be deemed to the effect that the District intends to prepay all or any portion of the Series 2023 Installment Payments shall have been filed Discharged (as defined below) from its obligations with respect to any series of Debt Securities on the Bank; and ninety-first day after the applicable conditions set forth below have been satisfied or (b) there the Company shall cease to be under any obligation to comply with any term, provision or condition set forth in Sections 4.06, 11.01 and 11.02 with respect to any series of Debt Securities and any other covenants provided in a resolution delivered to the Trustee pursuant to Section 2.02 hereof or an indenture supplemental hereto with respect to such series of Debt Securities at any time after the applicable conditions set forth below have been satisfied: (1) the Company shall have been deposited or caused to be deposited irrevocably with the Bank at or prior to the date (or dates) specified for prepaymentTrustee as trust funds in trust, specifically pledged as security for, and irrevocably appropriated and set aside to dedicated solely to, the benefit of the Holders of the Debt Securities of such series (A) money in an amount, or (B) U.S. Government Obligations which through the payment of all interest and principal in respect thereof in accordance with their terms will provide, not later than one business day before the due date of any payment, money in an amount, or any portion (C) a combination of the Series 2023 Installment Payments(A) and (B), sufficient moneys and Defeasance Obligations, the principal of and interest on which when due will provide money sufficient, without reinvestmentin the opinion (with respect to (A) and (B)) of a nationally recognized firm of independent public accountants selected by the Company expressed in a written certification thereof delivered to the Trustee, to pay all principaland discharge each installment of principal (including mandatory sinking fund payments) of, prepayment premium, if any, and interest interest, if any, on, the Outstanding Debt Securities of such Series 2023 Installment Payments series on the dates such installments of principal, premium, if any, and interest, if any, are due (taking into account any redemption pursuant to their respective Series 2023 Installment Payment Dates or prepayment date or dates, as the case may be, as evidenced by a special report prepared by an Independent Certified Public Accountant addressed optional sinking fund payments notice of which redemption is provided to the BankTrustee at the time of the deposit referred to in this paragraph (1)); (2) if the Debt Securities of such series are then and in that eventlisted on the New York Stock Exchange, the right, title and interest Company shall have delivered to the Trustee an Opinion of Counsel to the Bank herein and effect that the obligations Company's exercise of the District hereunder shall, its option under this paragraph would not cause such Debt Securities to be delisted; (3) no Event of Default with respect to all the Debt Securities of such series under Sections 6.01(a), 6.01(b), 6.01(c), 6.01(e) or such portion 6.01(g) of the Series 2023 Installment Payments as this Indenture shall have been so provided for, thereupon cease, terminate, become void occurred and be completely discharged and satisfied (except for the right of the Bank and the obligation of the District to have such moneys and such Defeasance Obligations applied to the payment of such Series 2023 Installment Payments, and the obligation of the District to pay any deficiency in such moneys and Permitted Investments). Upon payment in full of the principal component of all Series 2023 Installment Payments plus interest thereon to continuing on the date of paymentsuch deposit and the Company shall have furnished an Officer's Certificate to such effect; (4) the Company shall have delivered to the Trustee (a) an Opinion of Counsel or (b) a ruling from, or published by, the Bank Internal Revenue Service, whichever of (a) or (b) the Company shall pay over determine, to the District as an overpayment of Series 2023 Installment Payments, all such moneys or such Defeasance Obligations held by it pursuant hereto other than such moneys and such Defeasance Obligations as are required for the payment or prepayment effect that Holders of the Series 2023 Installment PaymentsDebt Securities of such series will not recognize income, which moneys and Defeasance Obligations shall continue to be held by the Bank in trust gain or loss for the payment Federal income tax purposes as a result of the Series 2023 Installment Payments and shall be applied by the Bank to the payment Company's exercise of the Series 2023 Installment Payments of the District.its option under this Section 12.02 32

Discharge of Obligations. (a) When If the City shall pay or cause to be paid all or any portion of the Series 2023 2008 Installment Payments shall have become due and payable in accordance herewith or a written notice of at the District to the effect that the District intends to prepay all or any portion of the Series 2023 Installment Payments shall have been filed with the Bank; and (b) there shall have been deposited with the Bank at or prior to the date (or dates) specified for prepayment, and irrevocably appropriated and set aside to the payment of all or any portion of the Series 2023 Installment Payments, sufficient moneys and Defeasance Obligations, the principal of and interest on which when due will provide money sufficient, without reinvestment, to pay all principal, prepayment premium, if any, and interest of such Series 2023 Installment Payments to their respective Series 2023 Installment Payment Dates or prepayment date or dates, as the case may be, as evidenced by a special report prepared by an Independent Certified Public Accountant addressed to the Bank; then times and in that eventthe manner provided herein, the right, title and interest of the Bank Authority herein and the obligations of the District City hereunder shall, with respect to all or such portion of the Series 2023 Installment Payments as have been so provided for, shall thereupon cease, terminate, become void and be completely discharged and satisfied satisfied, except as provided in Section 5.05. (b) Any unpaid principal component of the 2008 Installment Payments shall on its scheduled payment date or date of prepayment be deemed to have been paid within the meaning of and with the effect expressed in subsection (a) of this section if the City makes payment of such 2008 Installment Payments and the interest and prepayment premium, if applicable, thereon in the manner provided herein, and money for the purpose of such payment or prepayment is then held by the 2008 Trustee. (c) All or any portion of unpaid principal components of the 2008 Installment Payments shall, prior to their scheduled payment dates or dates of prepayment, be deemed to have been paid within the meaning of and with the effect expressed in subsection (a) of this section (except that the City shall remain liable for the right of the Bank and the obligation of the District to have such moneys and such Defeasance Obligations applied to the payment of such Series 2023 2008 Installment Payments, but only out of the money or securities deposited with the 2008 Trustee or an escrow agent as hereinafter described) if (i) notice is provided by the City to the 2008 Trustee, (ii) there shall have been deposited with the 2008 Trustee or such escrow agent either money in an amount which shall be sufficient, or Federal Securities which are not subject to redemption prior to maturity except by the holder thereof (including any such Federal Securities issued or held in book entry form) the interest on and principal of which when paid will provide money which, together with money, if any, deposited with the 2008 Trustee or such escrow agent at the same time, shall be sufficient, as stated in a report of an Independent Certified Public Accountant addressed to the City and the obligation 2008 Trustee or such escrow agent, to pay when due the principal components of such 2008 Installment Payments or such portions thereof and the interest and prepayment premiums, if any, thereon on and prior to their payment dates or their dates of prepayment, as the case may be, and (iii) an opinion of nationally recognized bond counsel addressed to the City and the 2008 Trustee or such escrow agent is filed with the 2008 Trustee to the effect that the action taken pursuant to this subsection will not cause the interest components of the District to pay any deficiency in such moneys and Permitted Investments). Upon payment in full of the principal component of all Series 2023 2008 Installment Payments plus interest thereon to the date of payment, the Bank shall pay over to the District as an overpayment of Series 2023 Installment Payments, all such moneys or such Defeasance Obligations held by it pursuant hereto other than such moneys and such Defeasance Obligations as are required for the payment or prepayment of the Series 2023 Installment Payments, which moneys and Defeasance Obligations shall continue to be held by includable in gross income under the Bank in trust Code for the payment federal income tax purposes and will not cause such interest components not to be exempt from State of the Series 2023 Installment Payments and shall be applied by the Bank to the payment of the Series 2023 Installment Payments of the DistrictCalifornia personal income taxes.

Discharge of Obligations. When: (a) When all or any portion of the Series 2023 2018A Installment Payments shall have become due and payable in accordance herewith or a written notice of the District to the effect that the District intends Agency to prepay all or any portion of the Series 2023 2018A Installment Payments shall have been filed with the BankTrustee; and (b) there shall have been deposited with the Bank Trustee at or prior to the Series 2018A Installment Payment Dates or date (or dates) specified for prepayment, in trust for the benefit of the Authority or its assigns and irrevocably appropriated and set aside to the payment of all or any portion of the Series 2023 2018A Installment Payments, sufficient moneys and Defeasance Obligationsnon-callable Permitted Investments, issued by the United States of America and described in clauses (a) or (b) of the definition thereof, the principal of and interest on which when due will provide money sufficient, without reinvestment, sufficient to pay all principal, prepayment premium, if any, and interest of such Series 2023 2018A Installment Payments to their respective Series 2023 2018A Installment Payment Dates or prepayment date or dates, dates as the case may be, as evidenced by a special report prepared by an Independent Certified Public Accountant addressed to ; and (c) provision shall have been made for paying all fees and expenses of the BankTrustee; then and in that event, the right, title and interest of the Bank Authority herein and the obligations of the District Agency hereunder shall, with respect to all or such portion of the Series 2023 2018A Installment Payments as have been so provided for, thereupon cease, terminate, become void and be completely discharged and satisfied (except for the right of the Bank Trustee and the obligation of the District Agency to have such moneys and such Defeasance Obligations Permitted Investments applied to the payment of such Series 2023 2018A Installment Payments). In such event, and the obligation upon request of the District Agency, the Trustee shall cause an accounting for such period or periods as may be requested by the Agency to pay any deficiency in such moneys be prepared and Permitted Investments). Upon payment in full of filed with the principal component of all Series 2023 Installment Payments plus interest thereon Agency and shall execute and deliver to the date Agency all such instruments as may be necessary or desirable to evidence such total or partial discharge and satisfaction, as the case may be, and, in the event of paymenta total discharge and satisfaction, the Bank Trustee shall pay over to the District Agency, after payment of all amounts due the Trustee pursuant to the Indenture, as an overpayment of Series 2023 2018A Installment Payments, all such moneys or such Defeasance Obligations Permitted Investments held by it pursuant hereto other than such moneys and such Defeasance Obligations Permitted Investments, as are required for the payment or prepayment of the Series 2023 2018A Installment Payments, which moneys and Defeasance Obligations Permitted Investments shall continue to be held by the Bank Trustee in trust for the payment of the Series 2023 2018A Installment Payments and shall be applied by the Bank Trustee to the payment of the Series 2023 2018A Installment Payments of the DistrictAgency.

Discharge of Obligations. (a) When If the City pays or cause to be paid all or any portion of the Series 2023 Installment Payments shall have become due and payable in accordance herewith or a written notice of at the District to the effect that the District intends to prepay all or any portion of the Series 2023 Installment Payments shall have been filed with the Bank; and (b) there shall have been deposited with the Bank at or prior to the date (or dates) specified for prepayment, and irrevocably appropriated and set aside to the payment of all or any portion of the Series 2023 Installment Payments, sufficient moneys and Defeasance Obligations, the principal of and interest on which when due will provide money sufficient, without reinvestment, to pay all principal, prepayment premium, if any, and interest of such Series 2023 Installment Payments to their respective Series 2023 Installment Payment Dates or prepayment date or dates, as the case may be, as evidenced by a special report prepared by an Independent Certified Public Accountant addressed to the Bank; then times and in that eventthe manner provided herein, the right, title and interest of the Bank Authority herein and the obligations of the District City hereunder shall, with respect to all or such portion of the Series 2023 Installment Payments as have been so provided for, will thereupon cease, terminate, become void and be completely discharged and satisfied satisfied. (except for the right b) Any unpaid principal installment of the Bank Installment Payments will on its payment date or date of prepayment, be deemed to have been paid within the meaning of and with the effect expressed in subsection (a) of this Section if the City makes payment of such Installment Payments and the obligation prepayment premium, if applicable, in the manner provided herein. (c) All or any portion of unpaid principal components of the District Installment Payments shall, prior to their payment dates or dates of prepayment, be deemed to have been paid within the meaning of and with the effect expressed in subsection (a) of this Section if (i) notice is provided by the City to the Authority, (ii) an amount has been deposited with the Authority in sufficient monies, or Permitted Investments of the type described in clause (1) of the definition of Permitted Investments that are not subject to redemption prior to maturity (including any such Permitted Investments issued or held in book entry form on the books of the Treasury of the United States of America) or tax-exempt obligations of a state or a political subdivision thereof which have been defeased under irrevocable escrow instructions by the deposit of such money or Permitted Investments and which are then rated in the highest rating category by the Rating Agencies, the interest on and principal of which when paid will provide money which, together with money, if any, deposited with the Authority, shall be sufficient to pay when due the principal components of such Installment Payments or such portions thereof on and prior to their payment dates or their dates of prepayment, as the case may be, the accrued interest thereon and the prepayment premiums, if any, applicable thereto, (iii) an Opinion of Counsel is filed with the Authority to the effect that the action taken pursuant to this subsection will not cause the interest component of the Installment Paymentsto be includable in gross income under the Code for federal income tax purposes, and (iv) a report of a qualified firm selected by the Authority to the effect that such moneys or Permitted Investments and the interest thereon will be sufficient to pay all such Defeasance Obligations applied to interest, principal and prepayment premiums when due. (d) After the payment of all Installment Payments and prepayment premiums or penalties, if any, as provided in this Section, and payment of all fees and expenses of the Authority, the Authority, upon request of the City, shall cause an accounting for such Series 2023 period or periods as may be requested by the City to be prepared and filed with the City and the Authority and shall execute and deliver to the City and the Authority all such instruments as may be necessary or desirable to evidence such total discharge and satisfaction of this Installment PaymentsSale Agreement, and the obligation of the District to pay any deficiency in such moneys and Permitted Investments). Upon payment in full of the principal component of all Series 2023 Installment Payments plus interest thereon to the date of payment, the Bank Authority shall pay over and deliver to the District City, as an overpayment of Series 2023 Installment Payments, all such moneys money or such Defeasance Obligations investments held by it pursuant hereto other than such moneys money and such Defeasance Obligations investments as are required for the payment or prepayment of the Series 2023 Installment Payments, which moneys money and Defeasance Obligations investments shall continue to be held uninvested by the Bank Authority in trust for the payment of the Series 2023 Installment Payments and shall be applied by the Bank Authority pursuant to the payment of the Series 2023 this Installment Payments of the DistrictSale Agreement.