Common use of Payment of Bonds After Discharge of Indenture Clause in Contracts

Payment of Bonds After Discharge of Indenture. Notwithstanding any provisions of this Indenture, and subject to applicable laws of the State, any moneys deposited with the Trustee or any Paying Agent, in trust for the payment of the principal of, or interest on, any Bonds remaining unclaimed for two (2) years after the principal of any or all of the Outstanding Bonds has become due and payable (whether at maturity or upon call for redemption or by declaration as provided in this Indenture), shall then be repaid to the Borrower upon its written request, and the holders of such Bonds shall thereafter be entitled to look only to the Borrower for payment thereof, and all liability of the Trustee or any Paying Agent with respect to such moneys shall thereupon cease; provided, however, that before the repayment of such moneys to the Borrower as aforesaid, the Trustee or Paying Agent, as the case may be, shall (at the request and cost of the Borrower) first publish at least once in a Qualified Newspaper a notice, in such form as may be deemed appropriate by the Borrower and the Trustee, in respect of the Bonds so payable and not presented and in respect of the provisions relating to the repayment to the Borrower of the moneys held for the payment thereof. In the event of the repayment of any such moneys to the Borrower as aforesaid, the holders of the Bonds in respect of which such moneys were deposited shall thereafter be deemed to be unsecured creditors of the Borrower for amounts equivalent to the respective amounts deposited for the payment of such Bonds and so repaid to the Borrower (without interest thereon).

Payment of Bonds After Discharge of Indenture. Notwithstanding any provisions of this Indenture, and subject to applicable laws of the State, any moneys deposited with held by the Trustee or any Paying Agent, in trust for the payment of the principal of, premium, if any, or interest on, any Bonds and remaining unclaimed for two (2) five years after the principal of any or all of the Outstanding Bonds has become due and payable (whether at maturity or upon call for redemption or by declaration acceleration as provided in this Indenture), if such moneys were so held at such date, or five years after the date of deposit of such moneys if deposited after said date when all of the Bonds became due and payable, shall then be repaid to the Borrower Company, upon its written request, and free from the holders of such Bonds shall thereafter be entitled to look only to the Borrower for payment thereof, trusts created by this Indenture and all liability of the Trustee or any Paying Agent with respect to such moneys shall thereupon cease; provided, however, that before the repayment of such moneys to the Borrower Company as aforesaid, the Trustee or Paying Agent, as the case may be, shall (at the cost and request and cost of the BorrowerCompany) first publish mail to the Holders of Bonds which have not been paid, at least once in a Qualified Newspaper the addresses last shown on the registration books maintained by the Trustee, a notice, in such form as may be deemed appropriate by the Borrower and the Trustee, in Trustee with respect of to the Bonds so payable and not presented and in with respect of to the provisions relating to the repayment to the Borrower Company of the moneys held for the payment thereof. In the event of the repayment of any such moneys to the Borrower as aforesaid, the holders of the Bonds in respect of which such moneys were deposited shall thereafter be deemed to be unsecured creditors of the Borrower for amounts equivalent to the respective amounts deposited for the payment of such Bonds and so repaid to the Borrower (without interest thereon).

Payment of Bonds After Discharge of Indenture. Notwithstanding any provisions of this Indenture, and subject to applicable laws of the State, any moneys deposited with the Trustee or any Paying Agent, in trust for the payment of the principal of, or interest or premium on, any Bonds remaining unclaimed for [two (2) years years] after the principal of any or all of the Outstanding Bonds has become due and payable (whether at maturity or upon call for redemption or by declaration as provided in this Indenture), shall then be repaid to the Borrower upon its written request, and the holders of such Bonds shall thereafter be entitled to look only to the Borrower for payment thereof, and all liability of the Trustee or any Paying Agent with respect to such moneys shall thereupon cease; provided, however, that before the repayment of such moneys to the Borrower as aforesaid, the Trustee or Paying Agent, as the case may be, shall (at the request and cost of the Borrower) first publish at least once in a Qualified Newspaper a notice, in such form as may be deemed appropriate by the Borrower and the Trustee, in respect of the Bonds so payable and not presented and in respect of the provisions relating to the repayment to the Borrower of the moneys held for the payment thereof. In the event of the repayment of any such moneys to the Borrower as aforesaid, the holders of the Bonds in respect of which such moneys were deposited shall thereafter be deemed to be unsecured creditors of the Borrower for amounts equivalent to the respective amounts deposited for the payment of such Bonds and so repaid to the Borrower (without interest thereon).

Payment of Bonds After Discharge of Indenture. Notwithstanding any provisions of this Indenture, and subject to applicable laws of the State, any moneys deposited with the Trustee or any Paying Agent, in trust for the payment of the principal of, or interest or premium on, any Bonds and remaining unclaimed for two (2) years after the principal of any or interest on all of the Outstanding outstanding Bonds has become due and payable (whether at maturity or upon call for redemption or by declaration as provided in this Indenture), ) shall then be repaid to the Borrower upon its written requestAuthority, and the holders Holders of such Bonds shall thereafter be entitled to look only to the Borrower Authority for payment thereof, and all liability of the Trustee or any Paying Agent with respect to such moneys shall thereupon cease; provided, however, that before the repayment of such moneys to the Borrower Authority as aforesaid, the Trustee or Paying Agent, as the case may be, shall (at the request and cost of the BorrowerAuthority) first publish at least once in a Qualified Financial Newspaper or Journal, a notice, in such form as may be deemed appropriate by the Borrower and the Trustee, Trustee in respect of the Bonds so payable and not presented and in respect of the provisions relating to the repayment to the Borrower Authority of the moneys held for the payment thereof. In the event of the repayment of any such moneys to the Borrower Authority as aforesaid, the holders Holders of the Bonds in respect of which such moneys were deposited shall thereafter be deemed to be unsecured creditors of the Borrower Authority for amounts equivalent to the respective amounts deposited for the payment of such Bonds and so repaid to the Borrower Authority (without interest thereon).

Payment of Bonds After Discharge of Indenture. Notwithstanding any provisions of this Indenture, and subject to applicable laws of the State, any moneys deposited with held by the Trustee or any Paying Agent, in trust for the payment of the principal or Redemption Price of, or interest on, any Bonds and remaining unclaimed for two (2) years after the principal of any or all of the Outstanding Bonds has become due and payable (whether at maturity or upon call for redemption or by declaration acceleration as provided in this Indenture), if such moneys were so held at such date, or two years after the date of deposit of such moneys if deposited after said date when all of the Bonds became due and payable, shall then be repaid to the Borrower upon its written request, and the holders of such Bonds shall thereafter be entitled to look only Corporation or to the Borrower for payment thereofOffice, if received from the Office, free from the trusts created by this Indenture, and all liability of the Trustee or any Paying Agent with respect to such moneys shall thereupon cease; provided, however, that before the repayment of such moneys to the Borrower Authority as aforesaid, the Trustee or Paying AgentTrustee, as the case may be, shall may (upon the request of and at the request and cost of the BorrowerCorporation) first publish mail to the Owners of all Bonds which have not been paid at least once in a Qualified Newspaper the addresses shown on the registration books maintained by the Trustee a notice, in such form as may be deemed appropriate by the Borrower and the Trustee, in with respect of to the Bonds so payable and not presented and in with respect of to the provisions relating to the repayment to the Borrower Authority of the moneys held for the payment thereof. In the event All moneys held by or on behalf of the repayment of any such moneys to the Borrower as aforesaid, the holders of the Bonds in respect of which such moneys were deposited shall thereafter be deemed to be unsecured creditors of the Borrower for amounts equivalent to the respective amounts deposited Trustee for the payment of such Bonds principal of, Redemption Price or interest on Bonds, whether at redemption, acceleration or maturity, shall be held in trust for the account of the Owners thereof and the Trustee shall not be required to pay Owners, the Authority or the Corporation any interest on, or be liable to owners or any other person for any interest earned on, moneys so repaid to the Borrower (without interest thereon)held.

Payment of Bonds After Discharge of Indenture. Notwithstanding any provisions of this Indenture, and subject to applicable laws of the State, any moneys deposited with held by the Trustee or any Paying Agent, in trust for the payment of the principal of, premium, if any, or interest on, any Bonds and remaining unclaimed for two five (25) years after the principal of any or all of the Outstanding Bonds has become due and payable (whether at maturity or upon call for redemption or by declaration acceleration as provided in this Indenture), if such moneys were so held at such date, or five (5) years after the date of deposit of such moneys if deposited after said date when all of the Bonds became due and payable, shall then be repaid to the Borrower Company, upon its written request, and free from the holders of such Bonds shall thereafter be entitled to look only to the Borrower for payment thereof, trusts created by this Indenture and all liability of the Trustee or any Paying Agent with respect to such moneys shall thereupon cease; , provided, however, that before the repayment of such moneys to the Borrower Company as aforesaid, the Trustee or Paying Agent, as the case may be, shall (at the cost and request and cost of the BorrowerCompany) first publish mail to the Holders of Bonds which have not been paid, at least once in a Qualified Newspaper the addresses last shown on the registration books maintained by the Trustee, a notice, in such form as may be deemed appropriate by the Borrower and the Trustee, in Trustee with respect of to the Bonds so payable and not presented and in with respect of to the provisions relating to the repayment to the Borrower Bank and the Company of the moneys held for the payment thereof. In the event of the repayment of any such moneys to the Borrower as aforesaidARTICLE XII INSURANCE; DESTRUCTION, the holders of the Bonds in respect of which such moneys were deposited shall thereafter be deemed to be unsecured creditors of the Borrower for amounts equivalent to the respective amounts deposited for the payment of such Bonds and so repaid to the Borrower (without interest thereon).DAMAGE, EMINENT DOMAIN

Payment of Bonds After Discharge of Indenture. Notwithstanding any provisions provision of this Indenture, and subject to applicable laws of the Stateescheat laws, any moneys deposited with (including interest thereon) held by the Bond Trustee or any Paying Agent, in trust for the payment of the principal of, of or interest on, on any Bonds and remaining unclaimed for two (2) years one year after the principal of any or all of the Outstanding Bonds has become due and payable (whether at maturity or upon call for redemption or by declaration as provided in this Indenture), if such moneys were so held at such date, or two years after the date of deposit of such moneys if deposited after said date when all of the Bonds became due and payable, shall then be repaid to the Borrower upon its written request, and free from the holders of such Bonds shall thereafter be entitled to look only to the Borrower for payment thereoftrusts created by this Indenture, and all liability of the Bond Trustee or any Paying Agent with respect to such moneys shall thereupon cease; provided, however, that before the repayment of such moneys to the Borrower as aforesaid, the Bond Trustee or Paying Agent, as the case may be, shall (at the request and cost of the Borrower) first publish mail to the Holders of Bonds which have not yet been paid, at least once in a Qualified Newspaper the addresses shown on the registration books maintained by the Bond Trustee, a notice, in such form as may be deemed appropriate by the Borrower and the Bond Trustee, in with respect of to the Bonds so payable and not presented and in with respect of to the provisions relating to the repayment to the Borrower of the moneys held for the payment thereof. In the event of the repayment of any such moneys to the Borrower as aforesaid, the holders of the Bonds in respect of which such moneys were deposited shall thereafter be deemed to be unsecured creditors of the Borrower for amounts equivalent to the respective amounts deposited for the payment of such Bonds and so repaid to the Borrower (without interest thereon).