Common use of Optional Tender Purchases and Mandatory Purchases Clause in Contracts

Optional Tender Purchases and Mandatory Purchases. The Company shall cause an Optional Tender Purchase on each Optional Tender Date and Mandatory Purchase of all Tendered Bonds on each Mandatory Tender Date. For such purpose the Company shall cause to be paid to the Tender Agent in immediately available funds the Purchase Price of all Tendered Bonds no later than 9:00 a.m., New York, New York time on each Tender Date, less any amounts on deposit with the Tender Agent in the Purchase Account and available for such purpose. Each Purchase Price payment shall be paid directly to the Tender Agent at its Principal Office and shall be deposited in the Purchase Account as provided in the Indenture. All Bonds purchased shall be transferred, held or cancelled as provided in the Indenture. The Company hereby authorizes and directs the Trustee to submit a claim under or draw upon the Credit in accordance with the terms of the Indenture to the extent necessary to pay such Purchase Price on any Tender Date. All moneys drawn under the Credit to pay the Purchase Price shall be credited against the obligation of the Company.

Optional Tender Purchases and Mandatory Purchases. The Company shall cause an Optional Tender Purchase on each Optional Tender Date and Mandatory Purchase of all Tendered Bonds on each Mandatory Tender Date. For such purpose the Company shall cause to be paid to the Tender Agent in immediately available funds the Purchase Price of all Tendered Bonds no later than 9:00 a.m., New YorkPortland, New York Oregon time on each Tender Date, less any amounts on deposit with the Tender Agent in the Purchase Account and arid available for such purpose. Each Purchase Price payment shall be paid directly to the Tender Agent at its Principal Designated Corporate Trust Office and shall be deposited in the Purchase Account as provided in the Indenture. All Bonds purchased shall be transferred, held or cancelled as provided in the Indenture. The Company hereby authorizes and directs the Trustee to submit a claim under or draw upon the Credit in accordance with the terms of the Indenture to the extent necessary to pay such Purchase Price on any Tender Date. All moneys drawn under the Credit to pay the Purchase Price shall be credited against the obligation of the Company.