Common use of Issuance of the Bonds; Application of Proceeds Clause in Contracts

Issuance of the Bonds; Application of Proceeds. To provide funds for the purpose of refunding the Refunded Bonds, the Issuer will issue, sell and deliver the Bonds. The Bonds will be issued in accordance with and pursuant to the Indenture in the aggregate principal amount, will bear interest at the rate or rates, will mature and will be subject to redemption as set forth therein. The Company hereby approves the terms and conditions of the Indenture, and the Bonds, and the terms and conditions under which the Bonds will be issued, sold and delivered. The proceeds from the sale of the Bonds shall be paid to the Trustee and deposited as follows (a) a sum equal to accrued interest, if any, shall be deposited in the Bond Fund and (b) the balance shall be deposited in the Clearing Fund. Disbursements of moneys in the Clearing Fund shall be made by the Trustee in order to defease and/or redeem the Refunded Bonds, pursuant to written instructions delivered by the Company to the Trustee and to the Refunded Bonds Trustee, provided, in all events, all moneys in the Clearing Fund shall be fully disbursed for the redemption of the Refunded Bonds on or before 90 days following the date of issuance of the Bonds. Upon deposit of adequate funds with the trustee for the Refunded Bonds, the Company shall be permitted to seek a release of the lien of any and all documents providing for the payment of the Refunded Bonds, including particularly the respective Trust Indentures and the Loan Agreements securing the same, and may seek repayment of any unrequired funds on deposit in the Clearing Fund, pursuant to Section 5.07 of the Indenture.

Issuance of the Bonds; Application of Proceeds. To provide funds for to make the purpose Loan to the Company to assist the Company in the refunding of refunding the Refunded Bonds, the Issuer Authority will issue, sell and deliver the BondsBonds to the Original Purchaser. The Bonds will be issued in accordance with and pursuant to the Indenture in the aggregate principal amount, will bear interest at the rate or ratesinterest, will mature and will be subject to redemption as set forth therein. The Company hereby approves the terms and conditions of the Indenture, Indenture and the Bonds, and the terms and conditions under which the Bonds will be issued, sold and delivered. The Company hereby requests that the Authority notify the Refunded Bonds Trustee (unless the Refunded Bonds Trustee has already received such notice), pursuant to Section 4.03 of the Refunded Bonds Indenture, that the entire outstanding principal amount of the Refunded Bonds is to be redeemed on December 1, 1995 at a redemption price of 102-1/2% of the principal amount thereof plus accrued interest to that redemption date. The proceeds from the sale of the Bonds (other than any accrued interest) shall be paid loaned to the Company to assist the Company in refunding the Refunded Bonds in order to reduce the interest cost payable by the Company; those proceeds shall be deposited in the Refunding Fund. On November 30, 1995 all moneys on deposit in the Refunding Fund shall be disbursed by the Trustee as provided in Section 5.02 of the Indenture to the Refunded Bonds Trustee for deposit in the Bond Fund created in the Refunded Bonds Indenture and applied by the Refunded Bonds Trustee to the payment of principal of and interest on the Refunded Bonds on their redemption on December 1, 1995. Pending disbursement pursuant to this Section, the proceeds so deposited in the Refunding Fund, together with any investment earnings thereon, shall constitute a part of the Revenues assigned by the Authority to the Trustee and deposited as follows (a) a sum equal to for the payment of Bond Service Charges. Any accrued interest, if any, interest shall be deposited in the Bond Fund and (b) the balance shall be deposited in the Clearing Fund. Disbursements of moneys in the Clearing Fund shall be made by the Trustee in order to defease and/or redeem the Refunded Bonds, pursuant to written instructions delivered by the Company to the Trustee and to the Refunded Bonds Trustee, provided, in all events, all moneys in the Clearing Fund shall be fully disbursed for the redemption of the Refunded Bonds on or before 90 days following the date of issuance of the Bonds. Upon deposit of adequate funds with the trustee for the Refunded Bonds, the Company shall be permitted to seek a release of the lien of any and all documents providing for the payment of the Refunded Bonds, including particularly the respective Trust Indentures and the Loan Agreements securing the same, and may seek repayment of any unrequired funds on deposit in the Clearing Fund, pursuant to Section 5.07 of the Indenture.

Issuance of the Bonds; Application of Proceeds. To provide funds for to make the purpose Loan to the Company to assist the Company in the refunding of refunding the Refunded Bonds, the Issuer will issue, sell and deliver the BondsBonds to the Original Purchaser. The Bonds will be issued in accordance with and pursuant to the Indenture in the aggregate principal amount, will bear interest at the rate or ratesinterest, will mature and will be subject to redemption as set forth therein. The Company hereby approves the terms and conditions of the Indenture, Indenture and the Bonds, and the terms and conditions under which the Bonds will be issued, sold and delivered. The Company hereby requests that the Issuer notify the Refunded Bonds Trustee (unless the Refunded Bonds Trustee has already received such notice), pursuant to the Refunded Bonds Indenture, that the entire outstanding principal amount of the Refunded Bonds is to be redeemed pursuant to the following chart, plus accrued interest to that redemption date. REFUNDED BONDS REDEMPTION DATE REDEMPTION PRICE Series 1990 Princeton June 19, 2000 102% Refunded Bonds Series 1990 Refunded Bonds June 19, 2000 102% Series 1993A Refunded Bonds June 19, 2000 102% The proceeds from the sale of the Bonds (other than any accrued interest) shall be paid loaned to the Company to assist the Company in refunding the Refunded Bonds in order to reduce the interest cost payable by the Company; those proceeds shall be deposited in the Refunding Fund. On the applicable redemption date, all moneys on deposit in the Refunding Fund shall be disbursed by the Trustee as provided in Section 5.02 of the Indenture to the Refunded Bonds Trustee for deposit in the Bond Fund created in the Refunded Bonds Indenture and applied by the Refunded Bonds Trustee to the payment of principal of and interest on the Refunded Bonds on their redemption date. The Company shall pay to the Refunded Bonds Trustee prior to the date of redemption of such series of Refunded Bonds such additional amounts as shall be required to pay in full on such date the entire amount of principal of, premium and interest due on the Refunded Bonds. Pending disbursement pursuant to this Section, the proceeds so deposited in the Refunding Fund, together with any investment earnings thereon, shall constitute a part of the Revenues assigned by the Issuer to the Trustee and deposited as follows (a) a sum equal to for the payment of Bond Service Charges. Any accrued interest, if any, interest shall be deposited in the Bond Fund and (b) the balance shall be deposited in the Clearing Fund. Disbursements of moneys in the Clearing Fund shall be made by the Trustee in order to defease and/or redeem the Refunded Bonds, pursuant to written instructions delivered by the Company to the Trustee and to the Refunded Bonds Trustee, provided, in all events, all moneys in the Clearing Fund shall be fully disbursed for the redemption of the Refunded Bonds on or before 90 days following the date of issuance of the Bonds. Upon deposit of adequate funds with the trustee for the Refunded Bonds, the Company shall be permitted to seek a release of the lien of any and all documents providing for the payment of the Refunded Bonds, including particularly the respective Trust Indentures and the Loan Agreements securing the same, and may seek repayment of any unrequired funds on deposit in the Clearing Fund, pursuant to Section 5.07 of the Indenture.

Issuance of the Bonds; Application of Proceeds. To provide funds for to make the purpose Loan to the Company to assist the Company in the refunding of refunding the Refunded Bonds, the Issuer will issue, sell and deliver the BondsBonds to the Original Purchaser. The Bonds will be issued in accordance with and pursuant to the Indenture in the aggregate principal amount, will bear interest at the rate or ratesinterest, will mature and will be subject to redemption as set forth therein. The Company hereby approves the terms and conditions of the Indenture, Indenture and the Bonds, and the terms and conditions under which the Bonds will be issued, sold and delivered. The Company hereby requests that the Issuer notify the Refunded Bonds Trustee (unless the Refunded Bonds Trustee has already received such notice), pursuant to the Refunded Bonds Indenture, that the entire outstanding principal amount of the Refunded Bonds is to be redeemed on April 1, 2003 at a redemption price of 100% of the principal amount thereof plus accrued interest to that redemption date. The proceeds from the sale of the Bonds (other than any accrued interest) shall be paid loaned to the Company to assist the Company in refunding the Refunded Bonds in order to reduce the interest cost payable by the Company; those proceeds shall be deposited in the Refunding Fund. On March 28, 2003, all moneys on deposit in the Refunding Fund shall be disbursed by the Trustee as provided in Section 5.02 of the Indenture to the Refunded Bonds Trustee for deposit in the Bond Fund created in the Refunded Bonds Indenture and applied by the Refunded Bonds Trustee to the defeasance of the Refunded Bonds on March 28, 2003, and for the payment of principal of and interest on the Refunded Bonds on April 1, 2003. The Company shall pay to the Refunded Bonds Trustee prior to the date of redemption of such series of Refunded Bonds such additional amounts as shall be required to pay in full on such date the entire amount of principal of, premium and interest due on the Refunded Bonds. Pending disbursement pursuant to this Section, the proceeds so deposited in the Refunding Fund, together with any investment earnings thereon, shall constitute a part of the Revenues assigned by the Issuer to the Trustee and deposited as follows (a) a sum equal to for the payment of Bond Service Charges. Any accrued interest, if any, interest shall be deposited in the Bond Fund and (b) the balance shall be deposited in the Clearing Fund. Disbursements of moneys in the Clearing Fund shall be made by the Trustee in order to defease and/or redeem the Refunded Bonds, pursuant to written instructions delivered by the Company to the Trustee and to the Refunded Bonds Trustee, provided, in all events, all moneys in the Clearing Fund shall be fully disbursed for the redemption of the Refunded Bonds on or before 90 days following the date of issuance of the Bonds. Upon deposit of adequate funds with the trustee for the Refunded Bonds, the Company shall be permitted to seek a release of the lien of any and all documents providing for the payment of the Refunded Bonds, including particularly the respective Trust Indentures and the Loan Agreements securing the same, and may seek repayment of any unrequired funds on deposit in the Clearing Fund, pursuant to Section 5.07 of the Indenture.

Issuance of the Bonds; Application of Proceeds. To provide funds for to make the purpose Loan to the Company to assist the Company in the refunding of refunding the Refunded Bonds, the Issuer will issue, sell and deliver the BondsBonds to the Original Purchaser. The Bonds will be issued in accordance with and pursuant to the Indenture in the aggregate principal amount, will bear interest at the rate or ratesinterest, will mature and will be subject to redemption as set forth therein. The Company hereby approves the terms and conditions of the Indenture, Indenture and the Bonds, and the terms and conditions under which the Bonds will be issued, sold and delivered. The Company hereby requests that the Issuer notify the Refunded Bonds Trustee (unless the Refunded Bonds Trustee has already received such notice), pursuant to the Refunded Bonds Indenture, that the entire outstanding principal amount of the Refunded Bonds is to be redeemed on December 16, 1996 at a redemption price of 100% of the principal amount thereof plus accrued interest to that redemption date. The proceeds from the sale of the Bonds (other than any accrued interest) shall be paid loaned to the Company to assist the Company in refunding the Refunded Bonds in order to reduce the interest cost payable by the Company; those proceeds shall be deposited in the Refunding Fund. On December 13, 1996 all moneys on deposit in the Refunding Fund shall be disbursed by the Trustee as provided in Section 5.02 of the Indenture to the Refunded Bonds Trustee for deposit in the Bond Fund created in the Series 1973 Ixxxxxxxx xxx xhe Series 1979 Ixxxxxxxx xxx xpplied by the Refunded Bonds Trustee to the payment of principal of and interest on the Series 1973 Bonds and the Series 1979 Bonds on their redemption on December 16, 1996. Pending disbursement pursuant to this Section, the proceeds so deposited in the Refunding Fund, together with any investment earnings thereon, shall constitute a part of the Revenues assigned by the Issuer to the Trustee and deposited as follows (a) a sum equal to for the payment of Bond Service Charges. Any accrued interest, if any, interest shall be deposited in the Bond Fund and (b) the balance shall be deposited in the Clearing Fund. Disbursements of moneys in the Clearing Fund shall be made by the Trustee in order to defease and/or redeem the Refunded Bonds, pursuant to written instructions delivered by the Company to the Trustee and to the Refunded Bonds Trustee, provided, in all events, all moneys in the Clearing Fund shall be fully disbursed for the redemption of the Refunded Bonds on or before 90 days following the date of issuance of the Bonds. Upon deposit of adequate funds with the trustee for the Refunded Bonds, the Company shall be permitted to seek a release of the lien of any and all documents providing for the payment of the Refunded Bonds, including particularly the respective Trust Indentures and the Loan Agreements securing the same, and may seek repayment of any unrequired funds on deposit in the Clearing Fund, pursuant to Section 5.07 of the Indenture.

Issuance of the Bonds; Application of Proceeds. To provide funds for to make the purpose Loan to the Company to assist the Company in the refunding of refunding the Refunded Bonds, the Issuer will issue, sell and deliver the BondsBonds to the Original Purchaser. The Bonds will be issued in accordance with and pursuant to the Indenture in the aggregate principal amount, will bear interest at the rate or ratesinterest, will mature and will be subject to redemption as set forth therein. The Company hereby approves the terms and conditions of the Indenture, Indenture and the Bonds, and the terms and conditions under which the Bonds will be issued, sold and delivered. The Company hereby requests that the Issuer notify the Refunded Bonds Trustee (unless the Refunded Bonds Trustee has already received such notice), pursuant to the Refunded Bonds Indenture, that the entire outstanding principal amount of the Refunded Bonds is to be redeemed on March 28, 1997 at a redemption price of 102% of the principal amount thereof plus accrued interest to that redemption date. The proceeds from the sale of the Bonds (other than any accrued interest) shall be paid loaned to the Company to assist the Company in refunding the Refunded Bonds in order to reduce the interest cost payable by the Company; those proceeds shall be deposited in the Refunding Fund. On March 28, 1997 all moneys on deposit in the Refunding Fund shall be disbursed by the Trustee as provided in Section 5.02 of the Indenture to the Refunded Bonds Trustee for deposit in the Bond Fund created in the Refunded Bonds Indenture and applied by the Refunded Bonds Trustee to the payment of principal of and interest on the Refunded Bonds on their redemption on March 28, 1997. The Company shall pay to the Refunded Bonds Trustee such additional amounts as shall be required to pay in full on such date the entire amount of principal of, premium and interest due on the Refunded Bonds. Pending disbursement pursuant to this Section, the proceeds so deposited in the Refunding Fund, together with any investment earnings thereon, shall constitute a part of the Revenues assigned by the Issuer to the Trustee and deposited as follows (a) a sum equal to for the payment of Bond Service Charges. Any accrued interest, if any, interest shall be deposited in the Bond Fund and (b) the balance shall be deposited in the Clearing Fund. Disbursements of moneys in the Clearing Fund shall be made by the Trustee in order to defease and/or redeem the Refunded Bonds, pursuant to written instructions delivered by the Company to the Trustee and to the Refunded Bonds Trustee, provided, in all events, all moneys in the Clearing Fund shall be fully disbursed for the redemption of the Refunded Bonds on or before 90 days following the date of issuance of the Bonds. Upon deposit of adequate funds with the trustee for the Refunded Bonds, the Company shall be permitted to seek a release of the lien of any and all documents providing for the payment of the Refunded Bonds, including particularly the respective Trust Indentures and the Loan Agreements securing the same, and may seek repayment of any unrequired funds on deposit in the Clearing Fund, pursuant to Section 5.07 of the Indenture.

Issuance of the Bonds; Application of Proceeds. To provide funds for to make the purpose Loan to the Company to assist the Company in the refunding of refunding the Refunded Bonds, the Issuer will issue, sell and deliver the BondsBonds to the Purchasers. The Bonds will be issued in accordance with and pursuant to the Indenture in the aggregate principal amount, will bear interest at the rate or ratesinterest, will mature and will be subject to redemption as set forth therein. The Company hereby approves the terms and conditions of the Indenture, Indenture and the Bonds, and the terms and conditions under which the Bonds will be issued, sold and delivered. The Company, for the benefit of the Issuer, the Trustee and each Bondholder, shall do and perform all acts and things required or contemplated in the Indenture to be done or performed by the Company. The proceeds from the sale of the Bonds shall be paid loaned to the Trustee and deposited as follows (a) a sum equal Company to accrued interest, if any, assist the Company in the refunding of the Refunded Bonds. Those proceeds shall be deposited in the Bond Refunding Fund with all investment earnings thereon being credited to the Refunding Fund and (b) applied in accordance with Section 5.02 of the balance shall be deposited in Indenture. Pursuant to Section 5.02 of the Clearing Fund. Disbursements of moneys in Indenture, on the Clearing Fund shall be made by the Trustee in order to defease and/or redeem the Refunded Bonds, pursuant to written instructions delivered by the Company to the Trustee and to the Refunded Bonds Trustee, provided, in all eventsRedemption Date, all moneys in the Clearing Refunding Fund shall be fully disbursed transferred by the Trustee to the Refunded Bonds Trustee for deposit in the Series 2008A Company Account of the bond fund created in the Series 0000X Xxxxxxxxx and the Series 2008B Company Account of the bond fund created in the Series 2008B Indenture, respectively, in the manner provided therein. Further, in accordance with said Section 5.02 of the Indenture, such funds will be applied solely and exclusively by the Refunded Bonds Trustee to reimburse the credit facility issuer for draws on the Series 2008A Credit Facility and the Series 2008B Credit Facility used to redeem the Refunded Bonds on the Redemption Date. Any remaining reimbursement due to the Credit Facility Issuer after the application of all such moneys shall be paid from moneys provided by the Company. Pending disbursement pursuant to this Section, the proceeds so deposited in the Refunding Fund, together with any investment earnings thereon, shall constitute a part of the Revenues assigned by the Issuer to the Trustee for the payment of Bond Service Charges. The Company acknowledges that the proceeds of the Bonds (including any interest income thereon) may be insufficient to pay the full costs of refunding the Refunded Bonds and that the Issuer has made no representation or warranty with respect to the sufficiency thereof. The Company further acknowledges that it is (and will remain after the issuance of the Bonds) obligated to, and hereby confirms that it will, pay all costs of the redemption of the Refunded Bonds on or before 90 days following the date of issuance of Redemption Date. The Company and the Bonds. Upon deposit of adequate funds with the trustee for Issuer hereby confirm that the Refunded Bonds, Bonds Trustee has been notified that the Company shall be permitted to seek a release of the lien of any and all documents providing for the payment entire outstanding principal amount of the Refunded BondsBonds is to be redeemed on the Redemption Date, including particularly at the respective Trust Indentures and the Loan Agreements securing the same, and may seek repayment redemption price of any unrequired funds on deposit in the Clearing Fund, pursuant to Section 5.07 100% of the Indentureprincipal amount thereof, plus interest accrued to that date.

Issuance of the Bonds; Application of Proceeds. To provide funds for to make the purpose Loan to the Company to assist the Company in the refunding of refunding the Refunded Bonds, the Issuer will issue, sell and deliver the BondsBonds to the Original Purchaser. The Bonds will be issued in accordance with and pursuant to the Indenture in the aggregate principal amount, will bear interest at the rate or ratesinterest, will mature and will be subject to redemption as set forth therein. The Company hereby approves the terms and conditions of the Indenture, Indenture and the Bonds, and the terms and conditions under which the Bonds will be issued, sold and delivered. The Company hereby requests that the Issuer notify the Refunded Bonds Trustee (unless the Refunded Bonds Trustee has already received such notice), pursuant to the Refunded Bonds Indenture, that the entire outstanding principal amount of the Refunded Bonds is to be redeemed on October 1, 2002 at a redemption price of 100% of the principal amount thereof plus accrued interest to that redemption date. The proceeds from the sale of the Bonds (other than any accrued interest) shall be paid loaned to the Company to assist the Company in refunding the Refunded Bonds in order to reduce the interest cost payable by the Company; those proceeds shall be deposited in the Refunding Fund. On October 1, 2002, all moneys on deposit in the Refunding Fund shall be disbursed by the Trustee as provided in Section 5.02 of the Indenture to the Refunded Bonds Trustee for deposit in the Bond Fund created in the Refunded Bonds Indenture and applied by the Refunded Bonds Trustee to the payment of principal of and interest on the Refunded Bonds on October 1, 2002. The Company shall pay to the Refunded Bonds Trustee prior to the date of redemption of such series of Refunded Bonds such additional amounts as shall be required to pay in full on such date the entire amount of principal of, premium and interest due on the Refunded Bonds. Pending disbursement pursuant to this Section, the proceeds so deposited in the Refunding Fund, together with any investment earnings thereon, shall constitute a part of the Revenues assigned by the Issuer to the Trustee and deposited as follows (a) a sum equal to for the payment of Bond Service Charges. Any accrued interest, if any, interest shall be deposited in the Bond Fund and (b) the balance shall be deposited in the Clearing Fund. Disbursements of moneys in the Clearing Fund shall be made by the Trustee in order to defease and/or redeem the Refunded Bonds, pursuant to written instructions delivered by the Company to the Trustee and to the Refunded Bonds Trustee, provided, in all events, all moneys in the Clearing Fund shall be fully disbursed for the redemption of the Refunded Bonds on or before 90 days following the date of issuance of the Bonds. Upon deposit of adequate funds with the trustee for the Refunded Bonds, the Company shall be permitted to seek a release of the lien of any and all documents providing for the payment of the Refunded Bonds, including particularly the respective Trust Indentures and the Loan Agreements securing the same, and may seek repayment of any unrequired funds on deposit in the Clearing Fund, pursuant to Section 5.07 of the Indenture.

Issuance of the Bonds; Application of Proceeds. To provide funds for the purpose of refunding the Refunded Bonds, the Issuer will issue, sell and deliver the Bonds. The Bonds will be issued in accordance with and pursuant to the Indenture in the aggregate principal amount, will bear interest at the rate or rates, will mature and will be subject to redemption as set forth therein. The Company hereby approves the terms and conditions of the Indenture, and the Bonds, and the terms and conditions under which the Bonds will be issued, sold and delivered. The proceeds from the sale of the Bonds shall be paid to the Trustee and deposited as follows (a) a sum equal to accrued interest, if any, shall be deposited in the Bond Fund and (b) the balance shall be deposited in the Clearing Fund. Disbursements of moneys in the Clearing Fund shall be made by the Trustee in order to defease and/or redeem the Refunded Bonds, pursuant to written instructions delivered by the Company to the Trustee and to the Refunded Bonds Trustee, provided, in all events, all moneys in the Clearing Fund clearing fund shall be fully disbursed for the redemption of the Refunded Bonds on or before 90 days following the date of issuance of the Bonds. Upon deposit of adequate funds with the trustee for the Refunded Bonds, the Company shall be permitted to seek a release of the lien of any and all documents providing for the payment of the Refunded Bonds, including particularly the respective Trust Indentures and the Loan Agreements securing the same, and may seek repayment of any unrequired funds on deposit in the Clearing Fund, pursuant to Section 5.07 of the Indenture.

Issuance of the Bonds; Application of Proceeds. To provide funds for to make the purpose Loan to the Company to assist the Company in the refunding of refunding the Refunded Bonds, the Issuer will issue, sell and deliver the BondsBonds to the Original Purchaser. The Bonds will be issued in accordance with and pursuant to the Indenture in the aggregate principal amount, will bear interest at the rate or ratesinterest, will mature and will be subject to redemption as set forth therein. The Company hereby approves the terms and conditions of the Indenture, Indenture and the Bonds, and the terms and conditions under which the Bonds will be issued, sold and delivered. The Company hereby requests that the Issuer notify the Refunded Bonds Trustee (unless the Refunded Bonds Trustee has already received such notice), pursuant to the Refunded Bonds Indenture, that the entire outstanding principal amount of the Refunded Bonds is to be redeemed on October 1, 2002, at a redemption price of 100% of the principal amount thereof plus accrued interest to that redemption date. The proceeds from the sale of the Bonds (other than any accrued interest) shall be paid loaned to the Company to assist the Company in refunding the Refunded Bonds in order to reduce the interest cost payable by the Company; those proceeds shall be deposited in the Refunding Fund. On October 1, 2002, all moneys on deposit in the Refunding Fund shall be disbursed by the Trustee as provided in Section 5.02 of the Indenture to the Refunded Bonds Trustee for deposit in the Bond Fund created in the Refunded Bonds Indenture and applied by the Refunded Bonds Trustee to the payment of principal of and interest on the Refunded Bonds on their redemption on October 1, 2002. The Company shall pay to the Refunded Bonds Trustee prior to the date of redemption of such series of Refunded Bonds such additional amounts as shall be required to pay in full on such date the entire amount of principal of, premium and interest due on the Refunded Bonds. Pending disbursement pursuant to this Section, the proceeds so deposited in the Refunding Fund, together with any investment earnings thereon, shall constitute a part of the Revenues assigned by the Issuer to the Trustee and deposited as follows (a) a sum equal to for the payment of Bond Service Charges. Any accrued interest, if any, interest shall be deposited in the Bond Fund and (b) the balance shall be deposited in the Clearing Fund. Disbursements of moneys in the Clearing Fund shall be made by the Trustee in order to defease and/or redeem the Refunded Bonds, pursuant to written instructions delivered by the Company to the Trustee and to the Refunded Bonds Trustee, provided, in all events, all moneys in the Clearing Fund shall be fully disbursed for the redemption of the Refunded Bonds on or before 90 days following the date of issuance of the Bonds. Upon deposit of adequate funds with the trustee for the Refunded Bonds, the Company shall be permitted to seek a release of the lien of any and all documents providing for the payment of the Refunded Bonds, including particularly the respective Trust Indentures and the Loan Agreements securing the same, and may seek repayment of any unrequired funds on deposit in the Clearing Fund, pursuant to Section 5.07 of the Indenture.

Issuance of the Bonds; Application of Proceeds. To provide funds for to make the purpose Loan to the Company to assist the Company in the refunding of refunding the Refunded Bonds, the Issuer will issue, sell and deliver the BondsBonds to the Original Purchaser. The Bonds will be issued in accordance with and pursuant to the Indenture in the aggregate principal amount, will bear interest at the rate or ratesinterest, will mature and will be subject to redemption as set forth therein. The Company hereby approves the terms and conditions of the Indenture, Indenture and the Bonds, and the terms and conditions under which the Bonds will be issued, sold and delivered. The Company hereby requests that the Issuer notify the Refunded Bonds Trustee (unless the Refunded Bonds Trustee has already received such notice), pursuant to the Refunded Bonds Indenture, that the entire outstanding principal amount of the Refunded Bonds is to be redeemed on September 15, 1998 at a redemption price of 102% of the principal amount thereof plus accrued interest to that redemption date. The proceeds from the sale of the Bonds (other than any accrued interest) shall be paid loaned to the Company to assist the Company in refunding the Refunded Bonds in order to reduce the interest cost payable by the Company; those proceeds shall be deposited in the Refunding Fund. On September 15, 1998 all moneys on deposit in the Refunding Fund shall be disbursed by the Trustee as provided in Section 5.02 of the Indenture to the Refunded Bonds Trustee for deposit in the Bond Fund created in the Refunded Bonds Indenture and applied by the Refunded Bonds Trustee to the payment of principal of and interest on the Refunded Bonds on their redemption on September 15, 1998. The Company shall pay to the Refunded Bonds Trustee such additional amounts as shall be required to pay in full on such date the entire amount of principal of, premium and interest due on the Refunded Bonds. Pending disbursement pursuant to this Section, the proceeds so deposited in the Refunding Fund, together with any investment earnings thereon, shall constitute a part of the Revenues assigned by the Issuer to the Trustee and deposited as follows (a) a sum equal to for the payment of Bond Service Charges. Any accrued interest, if any, interest shall be deposited in the Bond Fund and (b) the balance shall be deposited in the Clearing Fund. Disbursements of moneys in the Clearing Fund shall be made by the Trustee in order to defease and/or redeem the Refunded Bonds, pursuant to written instructions delivered by the Company to the Trustee and to the Refunded Bonds Trustee, provided, in all events, all moneys in the Clearing Fund shall be fully disbursed for the redemption of the Refunded Bonds on or before 90 days following the date of issuance of the Bonds. Upon deposit of adequate funds with the trustee for the Refunded Bonds, the Company shall be permitted to seek a release of the lien of any and all documents providing for the payment of the Refunded Bonds, including particularly the respective Trust Indentures and the Loan Agreements securing the same, and may seek repayment of any unrequired funds on deposit in the Clearing Fund, pursuant to Section 5.07 of the Indenture.

Issuance of the Bonds; Application of Proceeds. To provide funds for to make the purpose Loan to the Company to assist the Company in the refunding of refunding the Refunded Bonds, the Issuer will issue, sell and deliver the BondsBonds to the Purchasers. The Bonds will be issued in accordance with and pursuant to the Indenture in the aggregate principal amount, will bear interest at the rate or ratesinterest, will mature and will be subject to redemption as set forth therein. The Company hereby approves the terms and conditions of the Indenture, Indenture and the Bonds, and the terms and conditions under which the Bonds will be issued, sold and delivered. The Company, for the benefit of the Issuer, the Trustee and each Bondholder, shall do and perform all acts and things required or contemplated in the Indenture to be done or performed by the Company. The proceeds from the sale of the Bonds shall be paid loaned to the Trustee and deposited as follows (a) a sum equal Company to accrued interest, if any, assist the Company in the refunding of the Refunded Bonds. Those proceeds shall be deposited in the Bond Refunding Fund with all investment earnings thereon being credited to the Refunding Fund and (b) applied in accordance with Section 5.02 of the balance shall be deposited in Indenture. Pursuant to Section 5.02 of the Clearing Fund. Disbursements of moneys in Indenture, on the Clearing Fund shall be made by the Trustee in order to defease and/or redeem the Refunded Bonds, pursuant to written instructions delivered by the Company to the Trustee and to the Refunded Bonds Trustee, provided, in all eventsRedemption Date, all moneys in the Clearing Refunding Fund shall be fully disbursed transferred by the Trustee to the Refunded Bonds Trustee for deposit in the bond fund created in the Refunded Bonds Indenture. In addition, the Company shall deposit with the Refunded Bonds Trustee on or prior to the Redemption Date funds which, together with the proceeds of the Bonds, will be sufficient to redeem the Refunded Bonds on the Redemption Date. Pending disbursement pursuant to this Section, the proceeds so deposited in the Refunding Fund, together with any investment earnings thereon, shall constitute a part of the Revenues assigned by the Issuer to the Trustee for the payment of Bond Service Charges. The Company acknowledges that the proceeds of the Bonds (including any interest income thereon) may be insufficient to pay the full costs of refunding the Refunded Bonds and that the Issuer has made no representation or warranty with respect to the sufficiency thereof. The Company further acknowledges that it is (and will remain after the issuance of the Bonds) obligated to, and hereby confirms that it will, pay all costs of the redemption of the Refunded Bonds on or before 90 days following the date of issuance of Redemption Date. The Company and the Bonds. Upon deposit of adequate funds with the trustee for Issuer hereby confirm that the Refunded Bonds, Bonds Trustee has been notified that the Company shall be permitted to seek a release of the lien of any and all documents providing for the payment entire outstanding principal amount of the Refunded BondsBonds is to be redeemed on the Redemption Date, including particularly at the respective Trust Indentures and the Loan Agreements securing the same, and may seek repayment redemption price of any unrequired funds on deposit in the Clearing Fund, pursuant to Section 5.07 100% of the Indentureprincipal amount thereof, plus interest accrued to that date.

Issuance of the Bonds; Application of Proceeds. To provide funds for to make the purpose Loan to the Company to assist the Company in the refunding of refunding the Refunded Bonds, concurrently with the delivery to the Trustee of the First Mortgage Bonds as provided in Section 4.1 hereof, the Issuer will issue, sell and deliver the BondsBonds to the Original Purchaser. The Bonds will be issued in accordance with and pursuant to the Indenture in the aggregate principal amount, will bear interest at the rate or ratesinterest, will mature and will be subject to redemption as set forth therein. The Company hereby approves the terms and conditions of the Indenture, Indenture and the Bonds, and the terms and conditions under which the Bonds will be issued, sold and delivered. The proceeds from the sale of the Bonds (other than any accrued interest) shall be paid loaned to the Trustee Company to assist the Company in refunding the Refunded Bonds in order to reduce the interest cost payable by the Company and shall be deposited as follows (a) a sum equal to accrued interestin the Refunding Fund. On or before September 1, if any2005, all moneys on deposit in the Refunding Fund shall be deposited in the Bond Fund created in the Refunded Bonds Indenture and (b) applied by the balance Refunded Bonds Trustee to the payment of principal of and interest on the Refunded Bonds on September 16, 2005. Pending disbursement pursuant to this Section, the proceeds so deposited in the Refunding Fund, together with any investment earnings thereon, shall constitute a part of the Revenues assigned by the Issuer to the Trustee for the payment of Bond Service Charges. Any accrued interest shall be deposited in the Clearing Bond Fund. Disbursements of moneys in the Clearing Fund shall be made by the Trustee in order to defease and/or redeem the Refunded Bonds, pursuant to written instructions delivered by the Company to the Trustee and to the Refunded Bonds Trustee, provided, in all events, all moneys in the Clearing Fund shall be fully disbursed for the redemption of the Refunded Bonds on or before 90 days following the date of issuance of the Bonds. Upon deposit of adequate funds with the trustee for the Refunded Bonds, the Company shall be permitted to seek a release of the lien of any and all documents providing for the payment of the Refunded Bonds, including particularly the respective Trust Indentures and the Loan Agreements securing the same, and may seek repayment of any unrequired funds on deposit in the Clearing Fund, pursuant to Section 5.07 of the Indenture.