Common use of Non-presentment of Bonds Clause in Contracts

Non-presentment of Bonds. In the event any Bond shall not be presented for payment when the principal thereof becomes due, either at maturity or otherwise, or at the date fixed for redemption thereof or in the event any interest payment thereon is unclaimed, if moneys sufficient to pay such Bond or interest shall have been deposited in the Bond Fund, all liability of the Issuer to the Owner thereof for the payment of such Bond or interest shall forthwith cease, determine and be completely discharged, and thereupon it shall be the duty of the Trustee to hold such moneys, without liability for interest thereon, for the benefit of the Owner of such Bond who shall thereafter be restricted exclusively to such moneys, for any claim of whatever nature on his part under this Indenture or on, or with respect to, said Bond. Any moneys so deposited with and held by the Trustee not so applied to the payment of Bonds or such interest, if any, within one (1) year after the date on which the same shall have become due shall be paid by the Trustee to the Borrower upon the written direction of an Authorized Borrower Representative and thereafter Bondholders shall be entitled to look only to the Borrower for payment, and then only to the extent of the amount so repaid, and the Borrower shall not be liable for any interest thereon and shall not be regarded as a trustee of such moneys and the Trustee shall have no further responsibility with respect to such moneys.

Non-presentment of Bonds. In the event (a) If any Owner fails to present his or her Bond shall not be presented for payment when the its principal thereof becomes duedue (whether at maturity, either at maturity by mandatory or optional redemption, by acceleration, or otherwise, or at the date fixed for redemption thereof or in the event any interest payment thereon is unclaimed, if moneys sufficient to pay such Bond or interest shall have been deposited in the Bond Fund), all liability of the Issuer NVTC to the Owner thereof for the payment of the Bond shall be completely discharged if the Trustee holds for the Owner's benefit money sufficient to pay the principal of and premium, if any, and interest due on such Bond to its maturity or interest shall forthwith cease, determine and be completely discharged, redemption date and thereupon it shall be the Trustee's duty of the Trustee to hold such moneysthis money, without liability to the Owner for interest thereonon it, for the benefit of the Owner of such Bond Owner's benefit, who shall thereafter be restricted exclusively to such moneys, this money for any claim of whatever nature on his part under this Master Indenture or on, or with respect to, said on the Bond. . (b) Any moneys so deposited with and held money which shall have been set aside by the Trustee not so applied to for the payment of Bonds or such interestthe principal of and premium, if any, within one (1) year and interest on the Bonds and which shall remain unclaimed by the Owners of any of the Bonds for a period of four years and eleven months after the date on which the same such money shall have become due shall payable, shall, unless otherwise required by law, be paid by to NVTC (along with any investment earnings on such money earned after the Trustee to the Borrower upon the written direction of an Authorized Borrower Representative respective maturity or redemption date), and thereafter Bondholders shall be entitled to look only to the Borrower for payment, and then only to the extent of the amount so repaid, and the Borrower shall not be liable for any interest thereon and shall not be regarded as a trustee of such moneys and the Trustee shall have no further responsibility with respect to such moneysmoney.

Non-presentment of Bonds. In the event (a) If any Owner fails to present his or her Bond shall not be presented for payment when the its principal thereof becomes duedue (whether at maturity, either at maturity by mandatory or optional redemption, by acceleration, or otherwise, or at the date fixed for redemption thereof or in the event any interest payment thereon is unclaimed, if moneys sufficient to pay such Bond or interest shall have been deposited in the Bond Fund), all liability of the Issuer HRTAC to the Owner thereof for the payment of the Bond shall be completely discharged if the Trustee holds for the Owner’s benefit money sufficient to pay the principal of and premium, if any, and interest due on such Bond to its maturity or interest shall forthwith cease, determine and be completely discharged, redemption date and thereupon it shall be the Trustee’s duty of the Trustee to hold such moneysthis money, without liability to the Owner for interest thereonon it, for the benefit of the Owner of such Bond Owner’s benefit, who shall thereafter be restricted exclusively to such moneys, this money for any claim of whatever nature on his part under this Master Indenture or on, or with respect to, said on the Bond. . (b) Any moneys so deposited with and held money which shall have been set aside by the Trustee not so applied to for the payment of Bonds or such interestthe principal of and premium, if any, within one (1) year and interest on the Bonds and which shall remain unclaimed by the Owners of any of the Bonds for a period of four years and eleven months after the date on which the same such money shall have become due shall payable, shall, unless otherwise required by law, be paid by to HRTAC (along with any investment earnings on such money earned after the Trustee to the Borrower upon the written direction of an Authorized Borrower Representative respective maturity or redemption date), and thereafter Bondholders shall be entitled to look only to the Borrower for payment, and then only to the extent of the amount so repaid, and the Borrower shall not be liable for any interest thereon and shall not be regarded as a trustee of such moneys and the Trustee shall have no further responsibility with respect to such moneysmoney.

Non-presentment of Bonds. In the event If any Bond shall not be presented for payment when the principal thereof becomes due, either at maturity or otherwisematurity, or at the date fixed for redemption thereof thereof, or in the event any interest payment thereon is unclaimedotherwise, if moneys funds sufficient to pay any such Bond or interest shall have been deposited in made available to Paying Agent for the Bond Fundbenefit of the holder or holders thereof, all liability of the Issuer to the Owner holder thereof for the payment of such Bond or interest shall forthwith cease, determine and be completely discharged, and thereupon it shall be the duty of the Trustee Paying Agent to hold such moneys, funds for five (5) years without liability for interest thereon, for the benefit of the Owner holder of such Bond Bond, who shall thereafter be restricted exclusively to such moneysfunds, for any claim of whatever nature on his part under this Indenture or on, or with respect to, said such Bond. Any moneys so deposited with and held by the Trustee Paying Agent not so applied to the payment of Bonds or such interest, if any, within one five (15) year years after the date on which the same shall have become due shall be paid repaid by the Trustee Paying Agent to the Borrower upon the written direction of an Authorized Borrower Representative and thereafter Bondholders shall be entitled to look only to the Borrower for payment, and then only to the extent of the amount so repaid, and the Borrower shall not be liable for any interest thereon and shall not be regarded as a trustee of such moneys and the Trustee shall have no further responsibility with respect to such moneysmoney.

Non-presentment of Bonds. In the event any Bond Bonds shall not be presented for payment when the principal thereof becomes due, either at maturity maturity, upon redemption or otherwise, or at the date fixed a check or draft for redemption thereof or in the event any interest payment thereon is unclaimednot cashed, if moneys funds sufficient to pay such Bond Bonds or interest such check or draft shall have been deposited in made available to the Bond FundTrustee for the benefit of the Holders thereof, all liability of the Issuer to the Owner Holders thereof for the payment of such Bond Bonds or interest such check or draft shall forthwith cease, determine and be completely discharged, discharged as of the time such funds are made available to the Trustee and thereupon it shall be the duty of the Trustee to hold such moneysfunds, without liability for interest thereonuninvested, in a separate account of the Bond Fund or Bond Purchase Fund, as appropriate, for the benefit of the Owner Holders of such Bond Bonds, who shall thereafter be restricted exclusively to such moneys, funds for any claim of whatever nature on his their part under this Indenture or on, or with respect to, said Bondsuch Bonds. Any of those moneys which shall be so deposited with and held by the Trustee Trustee, and which remain unclaimed by the Holder of a Bond not so applied to the presented for payment or check or draft not cashed for a period of Bonds or such interest, if any, within one three (13) year years after the due date on which the same shall have become due thereof, shall be paid by the Trustee to the Borrower upon Company free of any trust or lien. Thereafter, the written direction Holder of an Authorized Borrower Representative and thereafter Bondholders that Bond shall be entitled to look only to the Borrower Company for payment, payment and then only to the extent of amounts so received by the amount so repaid, and the Borrower shall not be liable for Company without any interest thereon and shall not be regarded as a trustee of such moneys thereon, and the Trustee shall not have no further any responsibility with respect to such those moneys.

Non-presentment of Bonds. In the event any Bond Bonds (or any portion thereof) shall not be presented for payment when the principal thereof and redemption premium, if any, thereon becomes due, either at maturity or otherwise, or at the date fixed for redemption thereof (including, for such purpose, any conversion to a Fixed Rate) or in the event any interest payment thereon is unclaimedotherwise, if moneys funds sufficient to pay such Bond Bonds (or interest portions thereof) and redemption premiums, if any, shall have been deposited in be held by the Bond FundTrustee for the benefit of the owner or owners thereof, all liability of the Issuer Authority to the Owner owner or owners thereof for the payment of such Bond Bonds (or interest portions thereof) and redemption premiums, if any, shall forthwith cease, determine terminate and be completely discharged, and thereupon it shall be the duty of the Trustee to hold such moneysfunds (without investment thereof) in the Bond Fund for a period of at least two years, without liability for interest thereon, for the benefit of the Owner owner or owners of such Bond Bonds who shall thereafter be restricted exclusively to such moneys, funds for any claim of whatever nature on his such owner's or owners' part under this the Indenture or on, or with respect to, said Bondsuch Bonds. Any moneys so deposited with and held by On December 1 of each year in which the Bonds are outstanding, the Trustee will pay any funds (other than moneys resulting from a draw on the Letter of Credit) which it has then held in respect of Bonds not so applied presented for payment for two years or more to the payment of Bonds or such interestCompany, if any, within one (1) year after the date on which the same shall have become due shall be paid by the Trustee to the Borrower upon the written direction of an Authorized Borrower Representative and thereafter Bondholders the owners of such Bonds shall be entitled to look only to the Borrower Company for payment, the payment thereof and then only to the extent of the amount so repaidreceived without any interest thereon, and the Borrower shall not be liable for any interest thereon and shall not be regarded as a trustee of such moneys Authority, the Trustee and the Trustee Paying Agent shall have no further responsibility with respect to such moneys.

Non-presentment of Bonds. In the event any Bond shall not be presented for payment when the principal thereof becomes due, either at maturity or otherwise, or at the date fixed for redemption Redemption thereof or otherwise, if Available Moneys in the event any interest payment thereon is unclaimed, if moneys Bond Fund sufficient to pay the principal of, redemption premium, if any, and interest on such Bond shall be available to the Trustee for the benefit of the Holder or interest shall have been deposited in the Bond FundHolders thereof, all liability of the Issuer Authority to the Owner Holder thereof for the payment of such Bond Bond, or interest portion thereof, as the case may be, shall forthwith cease, determine and be completely discharged, and thereupon it shall be the duty of the Trustee to hold such moneys, fund or funds uninvested and without liability to the Holder of such Bond for interest thereon, for the benefit of the Owner Holder of such Bond Bond, who shall thereafter be restricted exclusively to such moneysfund or funds, for any claim of whatever nature on his part under this Indenture or on, or with respect to, said Bond, or portion thereof. Any moneys so deposited with and such funds held by the Trustee not so applied to the payment of Bonds remaining unclaimed by such Holder or former Holder for two (2) years after such interestprincipal, or premium, if any, within one (1) year after the date on which the same shall have has become due and payable and made available to the Trustee and, upon written instructions of the Borrower, shall be paid by the Trustee to the Borrower upon the written direction of an Authorized Borrower Representative and such Holder or former Holder shall thereafter Bondholders shall be entitled to look only to the Borrower for payment, and then only to the extent of the amount so repaidpayment thereof, and the Borrower shall not be liable for any interest thereon and shall not be regarded as a trustee of such moneys Authority and the Trustee shall have no further responsibility or liability with respect to such moneysfunds.

Non-presentment of Bonds. In the event any Bond shall not be presented for payment when the principal thereof becomes due, either at maturity or otherwise, or at the date fixed for redemption thereof thereof, or in the event any check for the payment of interest payment thereon is unclaimedshall not be cashed, then if moneys funds sufficient to pay such Bond or interest shall have been deposited in made available to the Bond FundTrustee, all liability of the Issuer to the Owner thereof for the payment of such Bond or interest shall forthwith cease, determine terminate and be completely discharged, and thereupon it shall be the duty of the Trustee to hold such moneysfunds uninvested, without liability for interest thereon, for the benefit of the Owner owner of such Bond Bond, who shall thereafter be restricted exclusively to such moneysfunds, for any claim of whatever nature on his part under this Indenture or on, or with respect to, said BondBond or interest. Any moneys so deposited with and held by the Trustee not so applied to for the payment benefit of Bonds or such interestpersons, if any, within one (1) year for two years after the date on upon which the same shall have become due such moneys were so deposited, shall be paid by the Trustee to the Borrower upon as provided in Section 6.13 hereof, subject to the written direction provisions of an Authorized Borrower Representative Section 10.2 of the Loan Agreement, and thereafter Bondholders such persons shall be entitled to look only to the Borrower for payment, and then only to the extent purpose of the amount so repaid, and the Borrower shall not be liable for any interest thereon and shall not be regarded as a trustee of payment from such moneys and the Trustee shall have no further responsibility liability with respect to such moneys.

Non-presentment of Bonds. In the event If any Bond shall not be presented for payment when the principal thereof becomes due, either at maturity or otherwisematurity, or at the date fixed for redemption thereof thereof, or in the event any interest payment thereon is unclaimedotherwise, if moneys funds sufficient to pay any such Bond or interest shall have been deposited in made available to Paying Agent for the Bond Fundbenefit of the Bondholder or Bondholders thereof, all liability of the Issuer to the Owner Bondholder thereof for the payment of such Bond or interest shall forthwith cease, determine and be completely discharged, and thereupon it shall be the duty of the Trustee Paying Agent to hold such moneys, funds for five (5) years without liability for interest thereon, for the benefit of the Owner Bondholder of such Bond Xxxx, who shall thereafter be restricted exclusively to such moneysfunds, for any claim of whatever nature on his part under this Indenture or on, or with respect to, said such Bond. Any moneys so deposited with and held by the Trustee Paying Agent not so applied to the payment of Bonds or such interest, if any, within one five (15) year years after the date on which the same shall have become due shall be paid repaid by the Trustee Paying Agent to the Borrower upon the written direction of an Authorized Borrower Representative WLCDC and thereafter Bondholders shall be entitled to look only to the Borrower WLCDC for payment, and then only to the extent of the amount so repaid, and the Borrower WLCDC shall not be liable for any interest thereon and shall not be regarded as a trustee of such moneys and the Trustee shall have no further responsibility with respect to such moneysmoney.

Non-presentment of Bonds. In (A) Subject to the provisions of Sections 206 and 207 hereof, in the event any Bond shall not be presented for payment when the principal thereof becomes due, either at maturity or otherwise, or at the date fixed for redemption thereof or in the event any interest payment thereon is unclaimedotherwise, if moneys Non-Preference Moneys sufficient to pay such Bond or interest shall have been deposited in with the Trustee for the benefit of the Holder thereof, such Bond Fundshall be deemed cancelled, redeemed or retired on such date even if not presented on such date and all liability of the Issuer to the Owner Holder thereof for the payment of such Bond or interest shall forthwith cease, determine and be completely discharged, ; and thereupon it shall be the duty of the Trustee to hold such moneysfunds, without liability for interest thereon, for the benefit of the Owner Holder of such Bond who shall thereafter be restricted exclusively to such moneys, funds for any claim of whatever nature on his part under this the Indenture or on, or with respect to, said to such Bond. Any moneys so deposited with and held by the Trustee . (B) If any Bond shall not so applied be presented for payment prior to the payment earlier of Bonds or such interest, if any, within one (1) year after two (2) years following the date when such Bond becomes due, either at maturity or at the date fixed for redemption or otherwise, or (2) the date on which such moneys would escheat to the same shall have become due State, such amounts shall be paid by the Trustee first to the Borrower upon Bank to the written direction of an Authorized Borrower Representative and thereafter extent any amounts remain unpaid by the Company under the Reimbursement Agreement, with any balance to be paid to the Company. Thereafter, Bondholders shall be entitled to look only to the Borrower Company and/or the Bank, as the case may be, for payment, and then only to the extent of the amount so repaidrepaid to the respective parties, and the Borrower who shall not be liable for any interest thereon and shall not be regarded as a trustee trustees of such money. The Trustee shall, at least sixty (60) days prior to the expiration of the above described period, give notice to any Owner who has not presented any Bond for payment that any moneys and held for the payment of any such Bond will be returned as provided in this Section 409 at the expiration of such period. The failure of the Trustee to give any such notice shall have no further responsibility with respect not affect the validity of any transfer of funds pursuant to such moneysthis Section 409.

Non-presentment of Bonds. In the event (a) If any Bond shall is not be presented for payment when the principal thereof becomes duedue (whether at maturity, either at maturity by sinking fund redemption, upon acceleration or call for redemption or otherwise), or at all liability of the date fixed Authority to the Holder thereof for redemption thereof or in the event any interest payment thereon is unclaimed, of such Bond shall be completely discharged if moneys sufficient to pay such Bond or and the interest due thereon shall have been deposited in be held by the Bond Fund, all liability of the Issuer to the Owner thereof Trustee for the payment benefit of such Bond or interest shall forthwith cease, determine and be completely dischargedHolder, and thereupon it shall be the duty of the Trustee to hold such moneys, subject to subsection (b) below, without liability for interest thereon, for the benefit of the Owner of such Bond Holder, who shall thereafter be restricted exclusively to such moneys, moneys for any claim of whatever nature on his part under this Indenture Agreement or on, or with respect to, said such Bond. Any moneys so . (b) Notwithstanding anything in this Agreement to the contrary, any cash, Government Obligations or Government Certificates deposited with and held by the Trustee not so applied to for the payment of Bonds or such interestthe principal of and premium, if any, within and interest on any Series of Bonds remaining unclaimed for more than one (1) year after the date on which the same shall have principal of such Series of Bonds has become due and payable shall be paid to the Authority and shall be held by the Trustee Authority in trust for the benefit of Holders of such Bonds in a separate account for seven years and thereafter in the general fund of the Authority. After such moneys have been paid to the Borrower upon Authority, the written direction Holders of an Authorized Borrower Representative and thereafter Bondholders such Bonds shall be entitled to look only to the Borrower for paymentAuthority, and then only to the extent all liability of the amount so repaid, and the Borrower shall not be liable for any interest thereon and shall not be regarded as a trustee of such moneys and the Trustee shall have no further responsibility with respect to such moneysamounts shall cease.

Non-presentment of Bonds. In the event any Bond shall not be presented for payment when the principal thereof becomes due, either at maturity or otherwise, or at the date fixed for redemption thereof or in the event any interest payment thereon is unclaimedthereof, if moneys sufficient to pay such Bond or interest shall have been deposited in the Bond Fund, all liability of the Issuer to the Owner owner thereof for the payment of such Bond or interest shall forthwith cease, determine and be completely discharged, and thereupon it shall be the duty of the Trustee to hold such moneys, without liability for interest thereon, for the benefit of the Owner owner of such Bond Xxxx, who shall thereafter be restricted exclusively to such moneys, for any claim of whatever nature on his part under this Indenture or on, or with respect to, said BondXxxx. Any moneys so deposited with and held by the Trustee not so applied to the payment of Bonds or such interest, if any, within one (1) year five years after the date on which the same shall have become due shall be paid repaid by the Trustee to the Borrower upon the written direction of an Authorized Borrower Representative Company and thereafter Bondholders shall be entitled to look only to the Borrower Company for payment, and then only to the extent of the amount so repaid, and the Borrower Company shall not be liable for any interest thereon and shall not be regarded as a trustee of such moneys and the Trustee shall have no further responsibility with respect to such moneysmoney.

Non-presentment of Bonds. In the event any Bond shall not be presented for payment when the principal thereof becomes due, either (i) at maturity or otherwise, or at the date fixed for redemption thereof thereof, or in (ii) on the event any interest payment thereon is unclaimedTender Date therefor, if moneys sufficient to pay such Bond or interest shall have been deposited in the Debt Service Fund or, with respect to Bonds becoming due pursuant to clause (ii), the Purchase Fund or the Undelivered Bond FundAccount held by the Tender Agent in accordance with Section 309 hereof, all liability of the Issuer to the Owner holder thereof for the payment of such Bond or interest shall forthwith cease, determine terminate and be completely discharged, and thereupon it shall be the duty of the Trustee or the Tender Agent as applicable to hold such moneys, without liability for interest thereon, for the benefit of the Owner holder of such Bond who shall thereafter be restricted exclusively to such moneys, for any claim of whatever nature on his part of such holder under this Indenture or on, or with respect to, said Bond. Any moneys so deposited with and held by the Trustee not so applied to the payment of Bonds or such interest, if any, within one five (15) year years after the date on which the same shall have become due shall be paid by the Trustee or the Tender Agent first, to the Borrower upon Credit Enhancer to the written direction extent of an Authorized Borrower Representative any amounts remaining unpaid under any of the Collateral Documents and thereafter Bondholders second, to the Borrower, free from the trusts created by this Indenture. Thereafter, Bondowners shall be entitled to look only to the Borrower for payment, and then only to the extent of the amount so repaid, repaid to the Credit Enhancer or the Borrower by the Trustee or the Tender Agent. The Credit Enhancer and the Borrower shall not be liable for any interest thereon on the sums paid to it pursuant to this Section and shall not be regarded as a trustee of such moneys and the Trustee shall have no further responsibility with respect to such moneys.money. [End of Article V]

Non-presentment of Bonds. In the event If any Bond shall is not be presented for ----------- ------------------------ payment when the principal thereof becomes duedue (whether at maturity, either at maturity by acceleration or call for redemption or otherwise, or at the date fixed for redemption thereof or in the event any interest payment thereon is unclaimed, if moneys sufficient to pay such Bond or interest shall have been deposited in the Bond Fund), all liability of the Issuer to the Owner thereof registered owner of the Bond for the payment of such Bond or interest shall forthwith cease, determine and be completely dischargeddischarged if funds (Available Moneys when required so to be by the terms of this Indenture) sufficient to pay such Bond and interest due thereon to its maturity or redemption date shall be held by the Trustee for the benefit of the registered owner thereof, and thereupon it shall be the duty of the Trustee to hold such moneysfunds, without liability for interest thereon, for the benefit of the Owner registered owner of such Bond Bond, who shall thereafter be restricted exclusively to such moneys, funds for any claim of whatever nature on his part under this Indenture or on, or with respect to, said on such Bond. Any moneys so deposited with and held which shall have been set aside by the Trustee not so applied to for the payment of the principal or redemption price of and interest on, the Bonds or such interest, if any, within one and which shall remain unclaimed by the Registered Owner of any of the Bonds for a period of five (15) year years after the date on which such principal or redemption price of, and interest on, the same Bonds shall have become due shall payable, shall, unless otherwise required by law, be paid by the Trustee to the Borrower upon the written direction of an Authorized Borrower Representative Borrower, and thereafter Bondholders the registered owners of such Bond shall be entitled to look only to the Borrower as unsecured creditors for payment, the payment thereof and then only to the extent of the amount so repaidreceived, without any interest thereon, and the Borrower shall not be liable for any interest thereon and shall not be regarded as a trustee of such moneys Issuer and the Trustee shall have no further responsibility with respect to such moneys.

Non-presentment of Bonds. In the event any Bond Bonds shall not be presented for payment when the principal thereof becomes due, either at maturity maturity, upon tender, redemption or otherwise, or at the date fixed a check or draft for redemption thereof or in the event any interest payment thereon is unclaimednot cashed, if moneys funds sufficient to pay such Bond Bonds or interest such check or draft shall have been deposited in made available to the Bond FundTrustee for the benefit of the Holders thereof, all liability of the Issuer to the Owner Holders thereof for the payment of such Bond Bonds or interest such check or draft shall forthwith cease, determine and be completely discharged, discharged as of the time such funds are made available to the Trustee and thereupon it shall be the duty of the Trustee to hold such moneysfunds, without liability for interest thereonuninvested, in a separate account of the Bond Fund or Bond Purchase Fund, as appropriate, for the benefit of the Owner Holders of such Bond Bonds, who shall thereafter be restricted exclusively to such moneys, funds for any claim of whatever nature on his their part under this Indenture or on, or with respect to, said Bondsuch Bonds. Any of those moneys which shall be so deposited with and held by the Trustee Trustee, and which remain unclaimed by the Holder of a Bond not so applied to the presented for payment or check or draft not cashed for a period of Bonds or such interest, if any, within one (1) year three years after the due date on which the same shall have become due thereof, shall be paid by the Trustee to the Borrower upon Company free of any trust or lien. Thereafter, the written direction Holder of an Authorized Borrower Representative and thereafter Bondholders that Bond shall be entitled to look only to the Borrower Company for payment, payment and then only to the extent of amounts so received by the amount so repaid, and the Borrower shall not be liable for Company without any interest thereon and shall not be regarded as a trustee of such moneys thereon, and the Trustee shall not have no further any responsibility with respect to such those moneys.

Non-presentment of Bonds. In the event any Bond shall not be presented for payment when the principal thereof becomes due, either at maturity or otherwise, or at the date fixed for redemption thereof or in the event any interest payment thereon is unclaimedotherwise, if moneys funds sufficient to pay the principal of, premium (if any) and interest on such Bond or interest shall have been deposited in made available to the Bond Fund, all liability Trustee for the benefit of the Issuer to the Owner thereof for the or Owners thereof, payment of such Bond or interest portion thereof as the case may be, shall forthwith cease, determine terminate and be completely discharged, and thereupon it shall be the duty of the Trustee to hold such moneysfund or funds uninvested in the Bond Fund, without liability to the Owner of such Bond for interest thereon, for the benefit of the Owner of such Bond Bond, who shall thereafter be restricted exclusively to such moneysfund or funds, for any claim of whatever nature on his his/her part under this Indenture or on, or with respect to, said Bond, or portion thereof, or premium, if any. Any moneys so monies deposited with and the Trustee or then held by the Trustee not so applied to in trust for the payment of Bonds or such interestthe principal of and redemption premium, if any, within one (1) year or interest on the Bonds and remaining unclaimed for five years after the date on which the same shall have such principal and premium, if any, or interest has become due shall be paid by treated as abandoned property pursuant to the provisions of Section 116B-18 of the North Carolina General Statutes and the Trustee shall report and remit this property to the Borrower upon Escheat Fund according to the written direction requirements of an Authorized Borrower Representative Article 3 of Chapter 116B of the North Carolina General Statutes, and thereafter Bondholders the Owners shall be entitled to look only to the Borrower Escheat Fund, or to any successor fund, as the case may be, for payment, payment and then only to the extent of the amount amounts so repaidreceived, without any interest thereon, and the Borrower shall not be liable for any interest thereon and shall not be regarded as a trustee of such moneys Issuer, the Remarketing Agent, the Trustee and the Trustee Company shall have no further responsibility with respect to such moneysmoney.

Non-presentment of Bonds. In the event any Bond shall not be presented for payment when the principal thereof becomes due, either at maturity or otherwisematurity, or at the date fixed for redemption thereof thereof, or in the event any interest payment thereon is unclaimedotherwise, if moneys and funds sufficient to pay any such Bond or interest shall have been deposited in made available to the Bond FundTrustee for the benefit of the Holder or Holders thereof, together with interest to the date on which principal is due, all liability of the Issuer to the Owner Holder thereof for the payment of such Bond or interest shall forthwith cease, determine terminate and be completely discharged, and thereupon it shall be the duty of the Trustee to pay such funds to the Person entitled thereto or if the Person is not known to the Trustee, to hold such moneysfunds, without liability for interest thereon, for the benefit of the Owner Holder of such Bond Bond, who shall thereafter be restricted exclusively to such moneysfunds, for any claim of whatever nature on his part under this Indenture or on, or with respect to, said such Bond. Any moneys Such amounts so deposited held shall, pending payment to the Holder of such Bond, (y) be subject to any rebate requirement as set forth in the Tax Regulatory Agreement or this Indenture, and (z) shall be uninvested, or, if invested, invested or re-invested only in Government Obligations maturing within thirty (30) days. Funds remaining with and held by the Trustee not so applied as above and unclaimed for the earlier of two (2) years or one month less than the applicable statutory escheat period shall be paid to the Company. After the payment of Bonds or such interest, if any, within one (1) year after the date on which the same shall have become due shall be paid by the Trustee unclaimed moneys to the Borrower upon Company, the written direction Holder of an Authorized Borrower Representative and such Bond shall thereafter Bondholders shall be entitled to look only to the Borrower Company for paymentthe payment thereof, and then only to the extent all obligations of the amount so repaid, and the Borrower shall not be liable for any interest thereon and shall not be regarded as a trustee of Trustee or such moneys and the Trustee shall have no further responsibility Paying Agent with respect to such moneysmoneys shall thereupon cease.

Non-presentment of Bonds. In the event any Bond shall not be presented for payment when the principal thereof becomes due, either whether at maturity or otherwisematurity, or at the date fixed for redemption thereof thereof, or in the event any interest payment thereon is unclaimedotherwise, if moneys funds sufficient to pay such Bond or interest shall have been deposited in made available to the Bond FundTrustee for the benefit of the holder or holders thereof, all liability of the Issuer to the Owner holder thereof for the payment of such Bond or interest shall forthwith cease, determine thereupon cease and be completely discharged, and thereupon it shall be the duty of the Trustee to hold such moneysfunds, without liability for interest thereon, in a separate account in the Bond Fund for the benefit of the Owner holder of such Bond Bond, who shall thereafter be restricted exclusively to such moneys, funds for any claim of whatever nature on his part under this Indenture or on, or with respect to, said Bond. Any moneys ; provided that any funds which shall be so deposited with and held by the Trustee and which remain unclaimed by the holder of the Bond not so applied to the presented for payment for a period of Bonds or three years after such interestdie date thereof, if any, within one (1) year after the date on which the same shall have become due shall be paid by the Trustee first to the Borrower upon Letter of Credit Bank to the written direction extent of an Authorized Borrower Representative any amounts due and payable to the Letter of Credit Bank under the Reimbursement Agreement and then to the Borrowers free of any trust or lien and thereafter Bondholders the holder of such Bond shall be entitled to look only to the Borrower Borrowers for payment, payment and then only to the extent amounts so received by the Letter of Credit Bank or the amount so repaid, and the Borrower shall not be liable for Borrowers without any interest thereon and shall not be regarded as a trustee of such moneys thereon, and the Trustee shall have no further responsibility with respect to such moneys.