Common use of Exchange and Surrender of Senior Note Mortgage Bonds Clause in Contracts

Exchange and Surrender of Senior Note Mortgage Bonds. At any time at the written direction of the Company, the Trustee shall surrender to the Company all or part of the Senior Note Mortgage Bonds in exchange for Senior Note Mortgage Bonds equal in aggregate outstanding principal amounts to, in different denominations than but of the same series and with all other terms identical to, the Senior Note Mortgage Bonds so surrendered to the Company. In addition, at any time a Security shall cease to be entitled to any lien, benefit or security under this Indenture pursuant to Section 4.4 hereof, the Trustee shall surrender Senior Note Mortgage Bonds as provided in this Section to the Company for cancellation. The Trustee shall, together with such Senior Note Mortgage Bonds, deliver to the Company such appropriate instruments of transfer or release as the Company may reasonably request. Prior to the surrender required by this paragraph, the Trustee shall receive from the Company the following, and (subject to Section 6.1 hereof) shall be fully protected in relying upon, (a) an Officers' Certificate stating (i) the aggregate outstanding principal amount of the Senior Note Mortgage Bonds of the series surrendered by the Trustee, after giving effect to such surrender, (ii) the aggregate outstanding principal amount of the Related Series of Securities, (iii) that the surrender of the Senior Note Mortgage Bonds will not result in any default under this Indenture, and (iv) that any Senior Note Mortgage Bonds to be received in exchange for the Senior Note Mortgage Bonds being surrendered comply with the provisions of this Section 14.8. The Company shall not be permitted to cause the surrender or exchange of all or any part of a series of Senior Note Mortgage Bonds contemplated in this Section 14.8, if, after such surrender or exchange, the aggregate outstanding principal amount of the Related Series of Securities would exceed the aggregate outstanding principal amount of such series of Senior Note Mortgage Bonds held by the Trustee. Any Senior Note Mortgage Bonds received by the Company pursuant to this Section 14.8 shall be delivered to the First Mortgage Trustee for cancellation.

Exchange and Surrender of Senior Note Mortgage Bonds. At any time at the written direction of the Company, the Trustee shall surrender to the Company all or part of the Senior Note Mortgage Bonds in exchange for Senior Note Mortgage Bonds equal in aggregate outstanding principal amounts to, in different denominations than but of the same series and with all other terms identical to, the Senior Note Mortgage Bonds so surrendered to the Company. In addition, at any time a Security Note shall cease to be entitled to any lien, benefit or security under this Indenture pursuant to Section 4.4 5.1(b) hereof, the Trustee shall surrender an equal principal amount of the related series of Senior Note Mortgage Bonds as provided in Bonds, subject to the limitations of this Section 4.8, to the Company for cancellation. The Trustee shall, together with such Senior Note Mortgage Bonds, deliver to the Company such appropriate instruments of transfer or release as the Company may reasonably request. Prior to the surrender required by this paragraph, the Trustee shall receive from the Company the following, and (subject to Section 6.1 9.1 hereof) shall be fully protected in relying upon, (a) an Officers' Certificate stating (i) the aggregate outstanding principal amount of the Senior Note Mortgage Bonds of the series surrendered by the Trustee, after giving effect to such surrender, (ii) the aggregate outstanding principal amount of the Related Series related series of SecuritiesNotes, (iii) that the surrender of the Senior Note Mortgage Bonds will not result in any default under this Indenture, and (iv) that any Senior Note Mortgage Bonds to be received in exchange for the Senior Note Mortgage Bonds being surrendered comply with the provisions of this Section 14.8Section. The Company shall not be permitted to cause the surrender or exchange of all or any part of a series of Senior Note Mortgage Bonds contemplated in this Section 14.8Section, if, after such surrender or exchange, the aggregate outstanding principal amount of the Related Series related series of Securities Notes would exceed the aggregate outstanding principal amount of such series of Senior Note Mortgage Bonds held by the Trustee. Any Senior Note Mortgage Bonds received by the Company pursuant to this Section 14.8 4.8 shall be delivered to the First Mortgage Trustee for cancellation.

Exchange and Surrender of Senior Note Mortgage Bonds. At any time at the written direction of the Company, the Trustee shall surrender to the Company all or part of the Senior Note Mortgage Bonds in exchange for Senior Note Mortgage Bonds equal in aggregate outstanding principal amounts to, in different denominations than but of the same series and with all other terms identical to, the Senior Note Mortgage Bonds so surrendered to the Company. In addition, at any time a Security shall cease to be entitled to any lien, benefit or security under this Indenture pursuant to Section 4.4 404 hereof, the Trustee shall surrender Senior Note Mortgage Bonds as provided in this Section to the Company for cancellation. The Trustee shall, together with such Senior Note Mortgage Bonds, deliver to the Company such appropriate instruments of transfer or release as the Company may reasonably request. Prior to the surrender required by this paragraph, the Trustee shall receive from the Company the following, and (subject to Section 6.1 601 hereof) shall be fully protected in relying upon, (a) an Officers' Certificate stating (i) the aggregate outstanding principal amount of the Senior Note Mortgage Bonds of the series surrendered by the Trustee, after giving effect to such surrender, (ii) the aggregate outstanding principal amount of the Related Series related series of Securities, (iii) that the surrender of the Senior Note Mortgage Bonds will not result in any default under this Indenture, and (iv) that any Senior Note Mortgage Bonds to be received in exchange for the Senior Note Mortgage Bonds being surrendered comply with the provisions of this Section 14.81308. The Company shall not be permitted to cause the surrender or exchange of all or any part of a series of Senior Note Mortgage Bonds contemplated in this Section 14.81308, if, after such surrender or exchange, the aggregate outstanding principal amount of the Related Series related series of Securities would exceed the aggregate outstanding principal amount of such series of Senior Note Mortgage Bonds held by the Trustee. Any Senior Note Mortgage Bonds received by the Company pursuant to this Section 14.8 1308 shall be delivered to the First Mortgage Trustee for cancellation.