Common use of Issuance, Delivery and Surrender of Collateral Trust Mortgage Bonds Clause in Contracts

Issuance, Delivery and Surrender of Collateral Trust Mortgage Bonds. The obligation of the Company set forth in Section 5.2 hereof to make the Loan Payments required therein with respect to the Series 2016A Bonds shall be evidenced by a series of Collateral Trust Mortgage Bonds. The Company shall issue and deliver to the Issuer Collateral Trust Mortgage Bonds as provided in subsection (b) of this Section 5.9. (a) The obligations of the Company to make payments under Section 5.2 hereof in respect of the Series 2016A Bonds shall be evidenced by a series of Collateral Trust Mortgage Bonds with the excess of the principal amount of the Collateral Trust Mortgage Bonds over the principal amount of the Series 2016A Bonds to be applied to the payment of accrued interest on the Series 2016A Bonds. Concurrently with the issuance and delivery by the Issuer of the Series 2016A Bonds, the Company shall issue and deliver to the Issuer a series of Collateral Trust Mortgage Bonds (i) maturing on the stated maturity date of the Series 2016A Bonds, (ii) in a principal amount equal to the sum of (A) the aggregate principal amount of the Series 2016A Bonds and (b) an amount equal to eight and one-half months interest on the Series 2016A Bonds, (iii) containing redemption provisions correlative to the redemption provisions of the Indenture relating to the Series 2016A Bonds requiring mandatory redemption thereof, (iv) requiring payments to be made to the Trustee for the account of the Issuer, and (v) bearing no interest. (b) The obligation of the Company to make any payment of the principal of or premium, if any, or interest on the Collateral Trust Mortgage Bonds, whether at maturity, upon redemption or otherwise, shall be reduced by the amount of any reduction under the Indenture of the amount of the corresponding payment required to be made by the Issuer thereunder in respect of the principal of or premium, if any, or interest on the Series 2016A Bonds, all in accordance with the provisions of the Company Mortgage. (c) The Issuer shall not sell, assign or transfer the Collateral Trust Mortgage Bonds, except to the extent provided in Section 5.5 hereof. In view of the pledge and assignment referred to in said Section 5.5, the Issuer agrees that (i) in satisfaction of the obligations of the Company set forth in paragraph (b) of this Section 5.9 with respect to the Series 2016A Bonds, the Collateral Trust Mortgage Bonds shall be issued and delivered to, registered in the name of, and held by the Trustee for the benefit of the owners and holders from time to time of the Series 2016A Bonds; (ii) the Indenture shall provide that the Trustee shall not sell, assign or transfer the Collateral Trust Mortgage Bonds except to a successor trustee under the Indenture, and shall surrender Collateral Trust Mortgage Bonds to the Company Mortgage Trustee in accordance with the provisions of subsection (e) of this Section; and (iii) the Company may take such actions as it shall deem to be desirable to effect compliance with such restrictions on transfer, including the placing of an appropriate legend on each Collateral Trust Mortgage Bond and the issuance of stop-transfer instructions to the Company Mortgage Trustee or any other transfer agent under the Company Mortgage. Any action taken by the Trustee in accordance with the provisions of Section 4.8 of the Indenture shall be binding upon the Company. (d) At the time any Series 2016A Bonds cease to be outstanding (other than by reason of the payment or redemption of Collateral Trust Mortgage Bonds and other than by reason of the applicability of clause (c) in the definition of "Outstanding" herein), the Issuer shall cause the Trustee to surrender for cancellation to the Company Mortgage Trustee Collateral Trust Mortgage Bonds in an aggregate principal amount equal to the sum of (i) the aggregate principal amount of the Series 2016A Bonds which so cease to be outstanding and (ii) an amount equal to eight and one-half months interest on the amount of Series 2016A Bonds which so cease to be outstanding. (e) For the purpose of determining whether or not any payment of the principal of or premium, if any, or interest on the Collateral Trust Mortgage Bonds shall have been made in full, any moneys paid by the Company in respect of the Collateral Trust Mortgage Bonds which shall have been withdrawn by the Trustee from the Bond Fund pursuant to Section 5.4 of the Indenture shall be deemed to have been paid by the Company to the Trustee pursuant to Section 5.2 hereof and not to have been paid by the Company in respect of the Collateral Trust Mortgage Bonds. (f) The obligation of the Company set forth in Section 5.2 hereof to make Loan Payments therein with respect to any Additional Bonds may be evidenced by one or more series of Collateral Trust Mortgage Bonds on terms and conditions that will be set forth in either an amendment or supplement to this Agreement or a supplemental indenture to the Indenture.

Issuance, Delivery and Surrender of Collateral Trust Mortgage Bonds. (a) The obligation of the Company set forth in Section 5.2 hereof to make the Loan Payments required therein with respect to the Series 2016A 2021B Bonds shall be evidenced by a series of Collateral Trust Mortgage Bonds. The Company shall issue and deliver to the Issuer Authority Collateral Trust Mortgage Bonds as provided in subsection (b) of this Section 5.9. (ab) The obligations of the Company to make payments under Section 5.2 hereof in respect of the Series 2016A 2021B Bonds shall be evidenced by a series of Collateral Trust Mortgage Bonds with the excess of the principal amount of the Collateral Trust Mortgage Bonds over the principal amount of the Series 2016A 2021B Bonds to be applied to the payment of accrued interest on the Series 2016A 2021B Bonds. Concurrently with the issuance and delivery by the Issuer Authority of the Series 2016A 2021B Bonds, the Company shall issue and deliver to the Issuer Authority a series of Collateral Trust Mortgage Bonds (i) maturing on the stated maturity date of the Series 2016A 2021B Bonds, (ii) in a principal amount equal to the sum of (A) the aggregate principal amount of the Series 2016A 2021B Bonds and (bB) an amount equal to eight and one-half months interest on the Series 2016A 2021B Bonds, (iii) containing redemption provisions correlative to the redemption provisions of the Indenture relating to the Series 2016A 2021B Bonds requiring mandatory redemption thereof, (iv) requiring payments to be made to the Trustee for the account of the IssuerAuthority, and (v) bearing no interest. (bc) The obligation of the Company to make any payment of the principal of or premium, if any, or interest on the Collateral Trust Mortgage Bonds, whether at maturity, upon redemption or otherwise, shall be reduced by the amount of any reduction under the Indenture of the amount of the corresponding payment required to be made by the Issuer Authority thereunder in respect of the principal of or premium, if any, or interest on the Series 2016A 2021B Bonds, all in accordance with the provisions of the Company Mortgage. (cd) The Issuer Authority shall not sell, assign or transfer the Collateral Trust Mortgage Bonds, except to the extent provided in Section 5.5 hereof. In view of the pledge and assignment referred to in said Section 5.5, the Issuer Authority agrees that (i) in satisfaction of the obligations of the Company set forth in paragraph (b) of this Section 5.9 with respect to the Series 2016A 2021B Bonds, the Collateral Trust Mortgage Bonds shall be issued and delivered to, registered in the name of, and held by the Trustee for the benefit of the owners and holders from time to time of the Series 2016A 2021B Bonds; (ii) the Indenture shall provide that the Trustee shall not sell, assign or transfer the Collateral Trust Mortgage Bonds except to a successor trustee under the Indenture, and shall surrender Collateral Trust Mortgage Bonds to the Company Mortgage Trustee in accordance with the provisions of subsection (e) of this Section; and (iii) the Company may take such actions as it shall deem to be desirable to effect compliance with such restrictions on transfer, including the placing of an appropriate legend on each Collateral Trust Mortgage Bond and the issuance of stop-transfer instructions to the Company Mortgage Trustee or any other transfer agent under the Company Mortgage. Any action taken by the Trustee in accordance with the provisions of Section 4.8 of the Indenture shall be binding upon the Company. (de) At the time any Series 2016A 2021B Bonds cease to be outstanding (other than by reason of the payment or redemption of Collateral Trust Mortgage Bonds and other than by reason of the applicability of clause (c) in the definition of "Outstandingoutstanding" herein), the Issuer Authority shall cause the Trustee to surrender for cancellation to the Company Mortgage Trustee Collateral Trust Mortgage Bonds in an aggregate principal amount equal to the sum of (i) the aggregate principal amount of the Series 2016A 2021B Bonds which so cease to be outstanding and (ii) an amount equal to eight and one-half months interest on the amount of Series 2016A 2021B Bonds which so cease to be outstanding. (ef) For the purpose of determining whether or not any payment of the principal of or premium, if any, or interest on the Collateral Trust Mortgage Bonds shall have been made in full, any moneys paid by the Company in respect of the Collateral Trust Mortgage Bonds which shall have been withdrawn by the Trustee from the Bond Fund pursuant to Section 5.4 of the Indenture shall be deemed to have been paid by the Company to the Trustee pursuant to Section 5.2 hereof and not to have been paid by the Company in respect of the Collateral Trust Mortgage Bonds. (fg) The obligation of the Company set forth in Section 5.2 hereof to make Loan Payments therein with respect to any Additional Bonds may be evidenced by one or more series of Collateral Trust Mortgage Bonds on terms and conditions that will be set forth in either an amendment or supplement to this Agreement or a supplemental indenture to the Indenture.

Issuance, Delivery and Surrender of Collateral Trust Mortgage Bonds. (a) The obligation of the Company set forth in Section 5.2 hereof to make the Loan Payments required therein with respect to the Series 2016A 2021A Bonds shall be evidenced by a series of Collateral Trust Mortgage Bonds. The Company shall issue and deliver to the Issuer Authority Collateral Trust Mortgage Bonds as provided in subsection (b) of this Section 5.9. (ab) The obligations of the Company to make payments under Section 5.2 hereof in respect of the Series 2016A 2021A Bonds shall be evidenced by a series of Collateral Trust Mortgage Bonds with the excess of the principal amount of the Collateral Trust Mortgage Bonds over the principal amount of the Series 2016A 2021A Bonds to be applied to the payment of accrued interest on the Series 2016A 2021A Bonds. Concurrently with the issuance and delivery by the Issuer Authority of the Series 2016A 2021A Bonds, the Company shall issue and deliver to the Issuer Authority a series of Collateral Trust Mortgage Bonds (i) maturing on the stated maturity date of the Series 2016A 2021A Bonds, (ii) in a principal amount equal to the sum of (A) the aggregate principal amount of the Series 2016A 2021A Bonds and (bB) an amount equal to eight and one-half months interest on the Series 2016A 2021A Bonds, (iii) containing redemption provisions correlative to the redemption provisions of the Indenture relating to the Series 2016A 2021A Bonds requiring mandatory redemption thereof, (iv) requiring payments to be made to the Trustee for the account of the IssuerAuthority, and (v) bearing no interest. (bc) The obligation of the Company to make any payment of the principal of or premium, if any, or interest on the Collateral Trust Mortgage Bonds, whether at maturity, upon redemption or otherwise, shall be reduced by the amount of any reduction under the Indenture of the amount of the corresponding payment required to be made by the Issuer Authority thereunder in respect of the principal of or premium, if any, or interest on the Series 2016A 2021A Bonds, all in accordance with the provisions of the Company Mortgage. (cd) The Issuer Authority shall not sell, assign or transfer the Collateral Trust Mortgage Bonds, except to the extent provided in Section 5.5 hereof. In view of the pledge and assignment referred to in said Section 5.5, the Issuer Authority agrees that (i) in satisfaction of the obligations of the Company set forth in paragraph (b) of this Section 5.9 with respect to the Series 2016A 2021A Bonds, the Collateral Trust Mortgage Bonds shall be issued and delivered to, registered in the name of, and held by the Trustee for the benefit of the owners and holders from time to time of the Series 2016A 2021A Bonds; (ii) the Indenture shall provide that the Trustee shall not sell, assign or transfer the Collateral Trust Mortgage Bonds except to a successor trustee under the Indenture, and shall surrender Collateral Trust Mortgage Bonds to the Company Mortgage Trustee in accordance with the provisions of subsection (e) of this Section; and (iii) the Company may take such actions as it shall deem to be desirable to effect compliance with such restrictions on transfer, including the placing of an appropriate legend on each Collateral Trust Mortgage Bond and the issuance of stop-transfer instructions to the Company Mortgage Trustee or any other transfer agent under the Company Mortgage. Any action taken by the Trustee in accordance with the provisions of Section 4.8 of the Indenture shall be binding upon the Company. (de) At the time any Series 2016A 2021A Bonds cease to be outstanding (other than by reason of the payment or redemption of Collateral Trust Mortgage Bonds and other than by reason of the applicability of clause (c) in the definition of "Outstandingoutstanding" herein), the Issuer Authority shall cause the Trustee to surrender for cancellation to the Company Mortgage Trustee Collateral Trust Mortgage Bonds in an aggregate principal amount equal to the sum of (i) the aggregate principal amount of the Series 2016A 2021A Bonds which so cease to be outstanding and (ii) an amount equal to eight and one-half months interest on the amount of Series 2016A 2021A Bonds which so cease to be outstanding. (ef) For the purpose of determining whether or not any payment of the principal of or premium, if any, or interest on the Collateral Trust Mortgage Bonds shall have been made in full, any moneys paid by the Company in respect of the Collateral Trust Mortgage Bonds which shall have been withdrawn by the Trustee from the Bond Fund pursuant to Section 5.4 of the Indenture shall be deemed to have been paid by the Company to the Trustee pursuant to Section 5.2 hereof and not to have been paid by the Company in respect of the Collateral Trust Mortgage Bonds. (fg) The obligation of the Company set forth in Section 5.2 hereof to make Loan Payments therein with respect to any Additional Bonds may be evidenced by one or more series of Collateral Trust Mortgage Bonds on terms and conditions that will be set forth in either an amendment or supplement to this Agreement or a supplemental indenture to the Indenture.

Issuance, Delivery and Surrender of Collateral Trust Mortgage Bonds. The obligation of the Company set forth in Section 5.2 hereof to make the Loan Payments required therein with respect to the Series 2016A 2016B Bonds shall be evidenced by a series of Collateral Trust Mortgage Bonds. The Company shall issue and deliver to the Issuer Collateral Trust Mortgage Bonds as provided in subsection (b) of this Section 5.9. (a) The obligations of the Company to make payments under Section 5.2 hereof in respect of the Series 2016A 2016B Bonds shall be evidenced by a series of Collateral Trust Mortgage Bonds with the excess of the principal amount of the Collateral Trust Mortgage Bonds over the principal amount of the Series 2016A 2016B Bonds to be applied to the payment of accrued interest on the Series 2016A 2016B Bonds. Concurrently with the issuance and delivery by the Issuer of the Series 2016A 2016B Bonds, the Company shall issue and deliver to the Issuer a series of Collateral Trust Mortgage Bonds (i) maturing on the stated maturity date of the Series 2016A 2016B Bonds, (ii) in a principal amount equal to the sum of (A) the aggregate principal amount of the Series 2016A 2016B Bonds and (b) an amount equal to eight and one-half months interest on the Series 2016A 2016B Bonds, (iii) containing redemption provisions correlative to the redemption provisions of the Indenture relating to the Series 2016A 2016B Bonds requiring mandatory redemption thereof, (iv) requiring payments to be made to the Trustee for the account of the Issuer, and (v) bearing no interest. (b) The obligation of the Company to make any payment of the principal of or premium, if any, or interest on the Collateral Trust Mortgage Bonds, whether at maturity, upon redemption or otherwise, shall be reduced by the amount of any reduction under the Indenture of the amount of the corresponding payment required to be made by the Issuer thereunder in respect of the principal of or premium, if any, or interest on the Series 2016A 2016B Bonds, all in accordance with the provisions of the Company Mortgage. (c) The Issuer shall not sell, assign or transfer the Collateral Trust Mortgage Bonds, except to the extent provided in Section 5.5 hereof. In view of the pledge and assignment referred to in said Section 5.5, the Issuer agrees that (i) in satisfaction of the obligations of the Company set forth in paragraph (b) of this Section 5.9 with respect to the Series 2016A 2016B Bonds, the Collateral Trust Mortgage Bonds shall be issued and delivered to, registered in the name of, and held by the Trustee for the benefit of the owners and holders from time to time of the Series 2016A 2016B Bonds; (ii) the Indenture shall provide that the Trustee shall not sell, assign or transfer the Collateral Trust Mortgage Bonds except to a successor trustee under the Indenture, and shall surrender Collateral Trust Mortgage Bonds to the Company Mortgage Trustee in accordance with the provisions of subsection (e) of this Section; and (iii) the Company may take such actions as it shall deem to be desirable to effect compliance with such restrictions on transfer, including the placing of an appropriate legend on each Collateral Trust Mortgage Bond and the issuance of stop-transfer instructions to the Company Mortgage Trustee or any other transfer agent under the Company Mortgage. Any action taken by the Trustee in accordance with the provisions of Section 4.8 of the Indenture shall be binding upon the Company. (d) At the time any Series 2016A 2016B Bonds cease to be outstanding (other than by reason of the payment or redemption of Collateral Trust Mortgage Bonds and other than by reason of the applicability of clause (c) in the definition of "Outstanding" herein), the Issuer shall cause the Trustee to surrender for cancellation to the Company Mortgage Trustee Collateral Trust Mortgage Bonds in an aggregate principal amount equal to the sum of (i) the aggregate principal amount of the Series 2016A 2016B Bonds which so cease to be outstanding and (ii) an amount equal to eight and one-half months interest on the amount of Series 2016A 2016B Bonds which so cease to be outstanding. (e) For the purpose of determining whether or not any payment of the principal of or premium, if any, or interest on the Collateral Trust Mortgage Bonds shall have been made in full, any moneys paid by the Company in respect of the Collateral Trust Mortgage Bonds which shall have been withdrawn by the Trustee from the Bond Fund pursuant to Section 5.4 of the Indenture shall be deemed to have been paid by the Company to the Trustee pursuant to Section 5.2 hereof and not to have been paid by the Company in respect of the Collateral Trust Mortgage Bonds. (f) The obligation of the Company set forth in Section 5.2 hereof to make Loan Payments therein with respect to any Additional Bonds may be evidenced by one or more series of Collateral Trust Mortgage Bonds on terms and conditions that will be set forth in either an amendment or supplement to this Agreement or a supplemental indenture to the Indenture.