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

Issuance, Delivery and Surrender of First 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 2010A Bonds shall be evidenced by a series of First Mortgage Bonds. The Company shall issue and deliver to the Issuer First Mortgage Bonds as provided in subsection (b) of this Section 5.9. (b) The obligations of the Company to make payments under Section 5.2 hereof in respect of the Series 2010A Bonds shall be evidenced by a series of First Mortgage Bonds with the excess of the principal amount of the First Mortgage Bonds over the principal amount of the Series 2010A Bonds to be applied to the payment of accrued interest on the Series 2010A Bonds. Concurrently with the issuance and delivery by the Issuer of the Series 2010A Bonds, the Company shall issue and deliver to the Issuer a series of First Mortgage Bonds (i) maturing on the stated maturity date of the Series 2010A Bonds, (ii) in a principal amount equal to the sum of (A) the aggregate principal amount of the Series 2010A Bonds and (b) an amount equal to eight and one-half months interest on the Series 2010A Bonds, (iii) containing redemption provisions correlative to the redemption provisions of the Indenture relating to the Series 2010A 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. (c) The obligation of the Company to make any payment of the principal of or premium, if any, or interest on the First 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 2010A Bonds, all in accordance with the provisions of the Company Mortgage. (d) The Issuer shall not sell, assign or transfer the First 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 2010A Bonds, the First 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 2010A Bonds; (ii) the Indenture shall provide that the Trustee shall not sell, assign or transfer the First Mortgage Bonds except to a successor trustee under the Indenture, and shall surrender First 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 First 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. (e) At the time any Series 2010A Bonds cease to be outstanding (other than by reason of the payment or redemption of First 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 First Mortgage Bonds in an aggregate principal amount equal to the sum of (i) the aggregate principal amount of the Series 2010A Bonds which so cease to be outstanding and (ii) an amount equal to eight and one-half months interest on the amount of Series 2010A Bonds which so cease to be outstanding. (f) For the purpose of determining whether or not any payment of the principal of or premium, if any, or interest on the First Mortgage Bonds shall have been made in full, any moneys paid by the Company in respect of the First 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 First Mortgage Bonds. (g) 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 First 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 First Mortgage Bonds. (a) The obligation of the Company set forth in Section 5.2 hereof 3.2 of this Agreement to make the Loan Payments payments required therein with respect to the Loan relating to the Series 2010A 2013 Bonds shall will be evidenced in part by a series of the First Mortgage Bonds. The Company shall issue and deliver to the Issuer First Mortgage Bonds as provided in subsection (b) of this Section 5.93.5. (b) The Concurrently with the issuance and delivery by the Issuer of the Series 2013 Bonds, and in order to evidence in part the obligations of the Company to make payments under Section 5.2 hereof in respect 3.2 (a) and (b) of this Agreement to repay those installments of the loan from the Issuer which correspond to payment of the principal of the Series 2010A Bonds shall be evidenced by a series of First Mortgage Bonds 2013 Bonds, with the excess of the principal amount of the First Mortgage Bonds over the principal amount of the Series 2010A Bonds thereof to be applied to the payment of accrued interest on the Series 2010A Bonds. Concurrently with the issuance and delivery by the Issuer of the Series 2010A 2013 Bonds, the Company shall issue and deliver to the Issuer a series of the First Mortgage Bonds (i) maturing on the stated maturity date of the Series 2010A BondsMaturity Date, (ii) in a principal amount equal to the sum of (A) the aggregate principal amount of the Series 2010A 2013 Bonds and plus eight (b8) months (8/12) an amount equal to eight and one-half months of the annual interest on the Series 2010A 2013 Bonds, (iii) containing redemption provisions correlative to the redemption provisions of the Indenture relating to the Series 2010A 2013 Bonds requiring mandatory redemption thereof, (iv) requiring payments to be made to the Trustee for the account of the Issuer, and (v) bearing no interestinterest except as otherwise provided in the First Mortgage Bonds Indenture. (c) The obligation of the Company to make any payment of the principal of or premium, if any, or interest on the First 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 2010A 2013 Bonds, all in accordance with the provisions of the Company MortgageFirst Mortgage Bonds Indenture. (d) The Issuer shall not sell, assign or transfer the First Mortgage Bonds, except to the extent provided in Section 5.5 3.4 hereof. In view of the pledge and assignment referred to in said Section 5.53.4, the Issuer agrees that (i) in satisfaction of the obligations of the Company set forth in paragraph (b) of this Section 5.9 3.5 with respect to the Series 2010A 2013 Bonds, the First Mortgage Bonds shall be issued and delivered to, registered in the name of, and held by by, the Trustee for the benefit of the owners and holders from time to time of the Series 2010A 2013 Bonds; (ii) the Indenture shall provide that the Trustee shall not sell, assign or transfer the First Mortgage Bonds except to a successor trustee under the Indenture, Indenture and shall surrender First Mortgage Bonds to the Company First Mortgage Bonds Trustee in accordance with the provisions of subsection (e) of this SectionSection 3.5; 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 First Mortgage Bond and the issuance of stop-transfer instructions to the Company First Mortgage Bonds Trustee or any other transfer agent under the Company MortgageFirst Mortgage Bonds Indenture. Any action taken by the Trustee in accordance with the provisions of Section 4.8 Article VIII of the Indenture shall be binding upon the Company. (e) At the time any Series 2010A 2013 Bonds cease to be outstanding (other than by reason of the payment or redemption of First 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 First Mortgage Bonds Trustee First Mortgage Bonds in an aggregate principal amount equal to the sum of (i) the aggregate principal amount of the Series 2010A Bonds which so cease to be outstanding and (ii) an amount equal to eight and one-half months interest on the amount of Series 2010A 2013 Bonds which so cease to be outstanding, plus a principal amount of such First Mortgage Bonds equal to eight (8) months (8/12) of the annual interest payable in respect of such Series 2013 Bonds. (f) For the purpose of determining whether or not any payment of the principal of or premium, if any, or interest on the First Mortgage Bonds shall have been made in full, any moneys paid by the Company in respect of the First Mortgage Bonds which shall have been withdrawn by the Trustee from the Bond Fund pursuant to Section 5.4 9.02 of the Indenture shall be deemed to have been paid by the Company to the Trustee pursuant to Section 5.2 3.2(c) hereof and not to have been paid by the Company in respect of the First Mortgage Bonds. (g) 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 First 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 First 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 2010A 2010 Bonds shall be evidenced by a series of First Mortgage Bonds. The Company shall issue and deliver to the Issuer First Mortgage Bonds as provided in subsection (b) of this Section 5.9. (b) The obligations of the Company to make payments under Section 5.2 hereof in respect of the Series 2010A 2010 Bonds shall be evidenced by a series of First Mortgage Bonds with the excess of the principal amount of the First Mortgage Bonds over the principal amount of the Series 2010A 2010 Bonds to be applied to the payment of accrued interest on the Series 2010A 2010 Bonds. Concurrently with the issuance and delivery by the Issuer of the Series 2010A 2010 Bonds, the Company shall issue and deliver to the Issuer a series of First Mortgage Bonds (i) maturing on the stated maturity date of the Series 2010A 2010 Bonds, (ii) in a principal amount equal to the sum of (A) the aggregate principal amount of the Series 2010A 2010 Bonds and (b) an amount equal to eight and one-half months interest on the Series 2010A 2010 Bonds, (iii) containing redemption provisions correlative to the redemption provisions of the Indenture relating to the Series 2010A 2010 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. (c) The obligation of the Company to make any payment of the principal of or premium, if any, or interest on the First 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 2010A 2010 Bonds, all in accordance with the provisions of the Company Mortgage. (d) The Issuer shall not sell, assign or transfer the First 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 2010A 2010 Bonds, the First 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 2010A 2010 Bonds; (ii) the Indenture shall provide that the Trustee shall not sell, assign or transfer the First Mortgage Bonds except to a successor trustee under the Indenture, and shall surrender First 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 First 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. (e) At the time any Series 2010A 2010 Bonds cease to be outstanding (other than by reason of the payment or redemption of First 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 First Mortgage Bonds in an aggregate principal amount equal to the sum of (i) the aggregate principal amount of the Series 2010A 2010 Bonds which so cease to be outstanding and (ii) an amount equal to eight and one-half months interest on the amount of Series 2010A 2010 Bonds which so cease to be outstanding. (f) For the purpose of determining whether or not any payment of the principal of or premium, if any, or interest on the First Mortgage Bonds shall have been made in full, any moneys paid by the Company in respect of the First 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 First Mortgage Bonds. (g) 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 First 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 First 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 2010A 2010B Bonds shall be evidenced by a series of First Mortgage Bonds. The Company shall issue and deliver to the Issuer First Mortgage Bonds as provided in subsection (b) of this Section 5.9. (b) The obligations of the Company to make payments under Section 5.2 hereof in respect of the Series 2010A Bonds shall be evidenced by a series of First Mortgage Bonds with the excess of the principal amount of the First Mortgage Bonds over the principal amount of the Series 2010A 2010B Bonds to be applied to the payment of accrued interest on the Series 2010A 2010B Bonds. Concurrently with the issuance and delivery by the Issuer of the Series 2010A 2010B Bonds, the Company shall issue and deliver to the Issuer a series of First Mortgage Bonds (i) maturing on the stated maturity date of the Series 2010A 2010B Bonds, (ii) in a principal amount equal to the sum of (A) the aggregate principal amount of the Series 2010A 2010B Bonds and (b) an amount equal to eight and one-half months interest on the Series 2010A 2010B Bonds, (iii) containing redemption provisions correlative to the redemption provisions of the Indenture relating to the Series 2010A 2010B 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. (c) The obligation of the Company to make any payment of the principal of or premium, if any, or interest on the First 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 2010A 2010B Bonds, all in accordance with the provisions of the Company Mortgage. (d) The Issuer shall not sell, assign or transfer the First 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 2010A 2010B Bonds, the First 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 2010A 2010B Bonds; (ii) the Indenture shall provide that the Trustee shall not sell, assign or transfer the First Mortgage Bonds except to a successor trustee under the Indenture, and shall surrender First 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 First 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. (e) At the time any Series 2010A 2010B Bonds cease to be outstanding (other than by reason of the payment or redemption of First 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 First Mortgage Bonds in an aggregate principal amount equal to the sum of (i) the aggregate principal amount of the Series 2010A 2010B Bonds which so cease to be outstanding and (ii) an amount equal to eight and one-half months interest on the amount of Series 2010A 2010B Bonds which so cease to be outstanding. (f) For the purpose of determining whether or not any payment of the principal of or premium, if any, or interest on the First Mortgage Bonds shall have been made in full, any moneys paid by the Company in respect of the First 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 First Mortgage Bonds. (g) 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 First 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.