Non-Presentment of Notes. All money that the Trustee shall have withdrawn from the Installment Payment Fund or Prepayment Fund or shall have received from any other source and set aside for the purpose of paying the principal or interest with respect to any Note shall be held in trust for the respective Owners. Any money that is so set aside and that remains unclaimed by the Owners for a period of five (5) years after the date on which such payment was due shall be treated as abandoned property pursuant to the provisions of Section 116B-18 of the General Statutes of North Carolina, and the Trustee shall report and remit this property to the Escheat Fund according to the requirements of Chapter 116B of the General Statutes of North Carolina, and thereafter the Owners shall look only to the State Treasurer of North Carolina for payment and then only to the extent of the amount so received, without any interest thereon, and the Trustee, the County and the Corporation shall have no responsibility with respect to such money.
Non-Presentment of Notes. If any Series 2023-A Note is not presented for payment when the principal thereof becomes due, either at maturity or at the date fixed for redemption thereof or otherwise, if funds sufficient to pay such Series 2023-A Note have been made available to the Trustee for the benefit of such Noteholder, all liability of the Issuer to such Noteholder for the payment of such Series 2023-A Note shall forthwith terminate and be completely discharged, and thereupon the Trustee shall hold such funds, without liability for interest thereon, for the benefit of such Noteholder, who is thereafter restricted exclusively to such funds for any claim of whatever nature on its part under this Indenture or on, or with respect to, said Series 2023-A Note. The Trustee shall return to the Issuer any funds held by the Trustee for the payment of any amount with respect to the Series 2023-A Notes that remains unclaimed for two years. After return to the Issuer of such funds, the Noteholders entitled to payment on the Series 2023-A Notes must look to the Issuer for payment as general creditors unless an applicable abandoned property law designates another Person, and the Trustee shall have no further liability to the Noteholders with respect to such funds for that period commencing after the return thereof to the Issuer.
Non-Presentment of Notes. In the event any Note shall not be presented for payment when the principal thereof becomes due, either at maturity or at the date fixed for redemption thereof, or otherwise, and funds sufficient to pay any such Note shall have been made available to the Trustee for the benefit of the holder or holders thereof, all liability of the Company to the holder thereof for the payment of such Note shall forthwith cease, terminate and be completely discharged, and thereupon it shall be the duty of the Trustee to pay such funds to the person or persons entitled thereto in the case of a fully registered bond or if the person is not known to the Trustee, to hold such funds, without liability for interest thereon, for the benefit of the holder of such Note, who shall thereafter be restricted exclusively to such funds, for any claim of whatever nature on his part under this Indenture or on, or with respect to, such Note. Funds remaining with the Trustee as above and unclaimed for six years shall be, subject to applicable escheat laws, paid to the Company. After the payment of such unclaimed moneys to the Company, the holder of such Note shall thereafter look only to the Company for the payment thereof, and all liability of the Trustee or the Paying Agent with respect to such moneys shall thereupon cease.
