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, any moneys deposited with the Bondowner Representative 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 after the principal of all 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 paid to the Issuer, and the holders of such Bonds shall thereafter be entitled to look only to the Issuer for payment thereof, and only to the extent of the amount so paid to the Issuer, and all liability of the Bondowner Representative or any paying agent with respect to such moneys shall thereupon cease. In the event of the payment of any such moneys to the Issuer 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 Issuer for amounts equivalent to the respective amounts deposited for the payment of such Bonds and so paid to the Issuer (without interest thereon).

Payment of Bonds After Discharge of Indenture. Notwithstanding any provisions provision of this Indenture, and subject to applicable escheat laws, any moneys deposited with held by the Bondowner Representative or any paying agent Trustee in trust for the payment of the principal of, of or interest or Premium on, on any Bonds and remaining unclaimed for two (2) years one year after the principal of all 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), 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 paid repaid to the Issuer, and Corporation free from the holders of such Bonds shall thereafter be entitled to look only to the Issuer for payment thereof, and only to the extent of the amount so paid to the Issuertrusts created by this Indenture, and all liability of the Bondowner Representative or any paying agent Trustee with respect to such moneys shall thereupon cease. In ; provided, however, that before the event repayment of the payment of any such moneys to the Issuer Corporation as aforesaid, the holders Trustee may (at the cost of the Corporation) first mail to the Holders of Bonds which have not yet been paid, at the addresses shown on the registration books maintained by the Trustee, a notice, in respect of which such moneys were deposited shall thereafter form as may be deemed appropriate by the Trustee, with respect to be unsecured creditors the Bonds so payable and not presented and with respect to the provisions relating to the repayment to the Corporation of the Issuer for amounts equivalent to the respective amounts deposited moneys held for the payment of such Bonds and so paid to the Issuer (without interest thereon)thereof.

Payment of Bonds After Discharge of Indenture. Notwithstanding any provisions of this Indenture, any moneys deposited with money held by the Bondowner Representative or any paying agent Trustee in trust for the payment of the principal ofo£ premium, if any, or interest or Premium on, any Bonds remaining unclaimed for two (2) five years after the principal of 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 money were so held at such date, or five years after the date of deposit of such money if deposited after said date when all of the Bonds became due and payable, shall then be paid repaid to the IssuerCompany, and upon its written request, free from the holders of such Bonds shall thereafter be entitled to look only to the Issuer for payment thereof, and only to the extent of the amount so paid to the Issuer, trusts created by this Indenture and all liability of the Bondowner Representative or any paying agent Trustee with respect to such moneys money shall thereupon cease. In ; provided, however, that before the event repayment of the payment of any such moneys money to the Issuer Company as aforesaid, the holders Trustee may (at the cost and request of the Company) first mail to the Holders of Bonds which have not been paid, at the addresses last shown on the registration books maintained by the Trustee, a notice, in respect of which such moneys were deposited shall thereafter form as may be deemed appropriate by the Trustee with respect to be unsecured creditors the Bonds so payable and not presented and with respect to the provisions relating to the repayment to the Company of the Issuer for amounts equivalent to the respective amounts deposited money held for the payment of such Bonds and so paid to the Issuer (without interest thereon)thereof.

Payment of Bonds After Discharge of Indenture. Notwithstanding any provisions of this Indenture, any moneys deposited with held by the Bondowner Representative or any paying agent Trustee in trust for the payment of the principal of, premium, if any, or interest or Premium on, any Bonds remaining unclaimed for two five (25) years after the principal of 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 paid repaid to the IssuerBorrower, and upon its written request, free from the holders of such Bonds shall thereafter be entitled to look only to the Issuer for payment thereof, and only to the extent of the amount so paid to the Issuer, trusts created by this Indenture and all liability of the Bondowner Representative or any paying agent Trustee with respect to such moneys shall thereupon cease. In ; provided, however, that before the event repayment of the payment of any such moneys to the Issuer Borrower as aforesaid, the holders Trustee may (at the cost and request of the Borrower) first mail to the Holders of Bonds which have not been paid, at the addresses last shown on the registration books maintained by the Trustee, a notice, in respect of which such moneys were deposited shall thereafter form as may be deemed appropriate by the Trustee with respect to be unsecured creditors the Bonds so payable and not presented and with respect to the provisions relating to the repayment to the Borrower of the Issuer for amounts equivalent to the respective amounts deposited moneys held for the payment of such Bonds and so paid to the Issuer (without interest thereon)thereof.

Payment of Bonds After Discharge of Indenture. Notwithstanding any provisions of this Indenture, any moneys deposited with held by the Bondowner Representative or any paying agent Trustee in trust for the payment of the principal or redemption premium of, or interest or Premium on, any Bonds and remaining unclaimed for two (2) years after the principal of 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 paid repaid without interest to the Issuer, and Authority free from the holders of such Bonds shall thereafter be entitled to look only to the Issuer for payment thereof, and only to the extent of the amount so paid to the Issuertrusts created by this Indenture, and all liability of the Bondowner Representative or any paying agent Trustee with respect to such moneys shall thereupon cease. In ; provided, however, that before the event repayment of the payment of any such moneys to the Issuer Authority as aforesaid, the holders Trustee, as the case may be, may (at the cost of the Authority) first mail a notice, in such form as may be deemed appropriate by the Trustee, to the Owners of the Bonds in so payable and not presented and with respect of which such moneys were deposited shall thereafter be deemed to be unsecured creditors the provisions relating to the repayment to the Authority of the Issuer for amounts equivalent to the respective amounts deposited moneys held for the payment of such Bonds and so paid to the Issuer (without interest thereon)thereof.

Payment of Bonds After Discharge of Indenture. Notwithstanding any provisions of this Indenture, any moneys deposited with held by the Bondowner Representative or any paying agent Trustee in trust for the payment of the principal of, premium, if any, or interest or Premium on, any Bonds and remaining unclaimed for two (2) five years after the principal of 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 paid repaid to the IssuerCompany, and upon its written request, free from the holders of such Bonds shall thereafter be entitled to look only to the Issuer for payment thereof, and only to the extent of the amount so paid to the Issuer, trusts created by this Indenture and all liability of the Bondowner Representative or any paying agent Trustee with respect to such moneys shall thereupon cease. In ; provided, however, that before the event repayment of the payment of any such moneys to the Issuer Company as aforesaid, the holders Trustee may (at the cost and request of the Company) first mail to the Holders of Bonds which have not been paid, at the addresse last shown on the registration books maintained by the Trustee, a notice, in respect of which such moneys were deposited shall thereafter form as may be deemed appropriate by the Trustee with respect to be unsecured creditors the Bonds so payable and not presented and with respect to the provisions relating to the repayment to the Company of the Issuer for amounts equivalent to the respective amounts deposited moneys held for the payment of such Bonds and so paid to the Issuer (without interest thereon)thereof.