Common use of Issuer's Remedies on Default Clause in Contracts

Issuer's Remedies on Default. (A) The occurrence of a Default referred to in Section 9.1(b) or 9.1(e) hereof (other than a default resulting from a breach of the covenant contained in Section 2.4(e) hereof) shall constitute an Event of Cancellation hereunder, and at any time thereafter during the continuance of such Event of Cancellation, the Issuer may, by written notice in accordance with the provisions of Section 11.2 hereof to the Trustee, call and cancel the Series J Bonds. The Trustee and any assigns and the Company hereby expressly agree that the Series J Bonds may be called and canceled by the Issuer in the manner provided above, and upon the Cancellation Date specified in the notice from the Issuer, which shall be at least 30 and no more than 60 days after the giving of such notice, the Series J Bonds will be called and canceled, and the Trustee may, at its option, declare the obligations evidenced by this Agreement immediately due and payable. The Trustee will deliver the Series J Bonds to the Issuer for cancellation upon the Cancellation Date, but even if such delivery does not occur, the Series J Bonds will be considered canceled and of no further force or effect on the Cancellation Date. Subject to the provisions of Section 9.4 hereof, the remedies set forth in this Section 9.3 are the sole and exclusive remedies of the Issuer in the event of an occurrence of an Event of Cancellation as set forth herein.

Issuer's Remedies on Default. (A) The occurrence of a Default referred to in Section 9.1(b) or 9.1(e) hereof (other than a default resulting from a breach of the covenant contained in Section 2.4(e) hereof) shall constitute an Event of Cancellation hereunder, and at any time thereafter during the continuance of such Event of Cancellation, the Issuer may, by written notice in accordance with the provisions of Section 11.2 hereof to the Trustee, call and cancel the Series J Bonds. The Trustee and any assigns and the Company hereby expressly agree that the Series J Bonds may be called and canceled cancelled by the Issuer in the manner provided above, and upon the Cancellation Date specified in the notice from the Issuer, which shall be at least 30 and no more than 60 days after the giving of such notice, the Series J Bonds will be called and canceledcancelled, and the Trustee may, at its option, declare the obligations evidenced by this Agreement immediately due and payable. The Trustee will deliver the Series J Bonds to the Issuer for cancellation upon the Cancellation Date, but even if such delivery does not occur, the Series J Bonds will be considered canceled cancelled and of no further force or effect on the Cancellation Date. Subject to the provisions of Section 9.4 hereof, the remedies set forth in this Section 9.3 are the sole and exclusive remedies of the Issuer in the event of an occurrence of an Event of Cancellation as set forth herein.

Issuer's Remedies on Default. (A) The occurrence of a Default referred to in Section 9.1(b9.1 (b) or 9.1(e) hereof (other than a default resulting from a breach of the covenant contained in Section 2.4(e2.4 (e) hereof) shall constitute an Event of Cancellation hereunder, and at any time thereafter during the continuance of such Event of Cancellation, the Issuer may, by written notice in accordance with the provisions of Section 11.2 hereof to the Trustee, call and cancel the Series J G Bonds. The Trustee trustee and any assigns and the Company hereby expressly agree that the Series J G Bonds may be called and canceled cancelled by the Issuer in the manner provided above, and upon the Cancellation Date specified in the notice from the Issuer, which shall be at least 30 and no more than 60 days after the giving of such notice, the Series J G Bonds will be called and canceledcancelled, and the Trustee may, at its option, declare the obligations evidenced by this Agreement immediately due and payable. The Trustee will deliver the Series J G Bonds to the Issuer for cancellation upon the Cancellation Date, but even if such delivery does not occur, the Series J G Bonds will be considered canceled cancelled and of no further force or effect on the Cancellation Date. Subject to the provisions of Section 9.4 9.4. hereof, the remedies set forth in this Section 9.3 are the sole and exclusive remedies of the Issuer in the event of an occurrence of an Event of Cancellation as set forth herein.