Common use of Pledge of Bonds Clause in Contracts

Pledge of Bonds. As security for the payment of the obligations of the Company pursuant to Paragraph 3A(i) above, the Company will pledge to the Bank, and grant to the Bank a security interest in, its right, title and interest in and to Bonds delivered to the Bank in connection with "A Drawings" (herein called "Pledged Bonds"), pursuant to a pledge and security agreement in the form of Annex II attached hereto (the "Pledge Agreement"). Any amounts from time to time owing to the Bank pursuant to paragraph 3A(i) above may be paid (i) at any time by the Company on one Business Day's notice stating the amount to be paid (which shall be $5,000 or an integral multiple thereof) and (ii) at any time on behalf of the Company on one Business Day's notice from the Company directing the Bank to deliver (or to cause the Tender Agent to deliver) a specified principal amount of Pledged Bonds held by or on behalf of the Bank for sale pursuant to Section 4.07(b) of the Indenture (but in all events, in principal amounts equivalent to authorized denominations of Bonds under the terms of the Indenture). Upon payment to the Bank of the amount to be paid pursuant to clause (i) or (ii) above, together with accrued interest as set forth in clause (2) of Paragraph 3A(i), to the date of such payment on the amount to be paid, the outstanding obligations of the Company under Paragraph 3A(i) above shall be reduced by the amount of such payment, interest shall cease to accrue on the amount paid and the Bank shall release (or shall be deemed to have released) from the pledge and security interest created by the Pledge Agreement a principal amount of Pledged Bonds equal to the amount of such payment, provided that prior to such release from the pledge and security interest created by the Pledge Agreement of Bonds delivered to or for the benefit of the Bank in connection with an "A Drawing", the Company shall have paid to the Bank the amount owing in respect of the "C Drawing", if any, made in conjunction with such "A Drawing". Such Bonds shall be delivered to the Company on payment to the Bank as aforesaid or to the Tender Agent for sale pursuant to Section 4.08(b) of the Indenture, as appropriate. Notwithstanding the foregoing, no payment of amounts owing to the Bank pursuant to Paragraph 3A(i) may be made, and no Pledged Bonds shall be released, during the period commencing two Business Days prior to an Interest Payment Date with respect to the Bonds and ending at the close of business on such Interest Payment Date.

Pledge of Bonds. As security for the payment of the obligations of the Company Borrower pursuant to Paragraph 3A(iSection 3.1(b) aboveabove and as more fully described in Article Eight hereof, the Company will pledge Borrower has pledged to the BankAdministrative Agent, for the benefit of the Issuing Bank and the Lenders, and grant granted to the Administrative Agent, for the benefit of the Issuing Bank and the Lenders, a security interest in, all its rightrights, title and interest interests in and to all Bonds delivered (or, in the case of Bonds held under a book-entry system, reflected on the records of such Bonds as more fully described in Article Eight hereof) to the Issuing Bank in connection with "A “C Drawings" ” (herein called "“Pledged Bonds"), pursuant to a pledge and security agreement in the form of Annex II attached hereto (the "Pledge Agreement"”). Any amounts from time to time owing to the Issuing Bank and the Lenders pursuant to paragraph 3A(iSection 3.1(b) above may be paid prepaid (i) at any time by the Company Borrower on one Business Day's ’s notice stating the amount to be paid prepaid (which shall be $5,000 or an integral multiple thereof) and (ii) at any time on behalf of the Company Borrower on one Business Day's ’s notice from the Company Borrower directing the Issuing Bank to deliver (or to cause the Tender Agent applicable Trustee to deliverdeliver (or, in the case of Bonds held under a book-entry system, reflected on the records of such Bonds as more fully described in Article Eight hereof) a specified principal amount of Pledged Bonds held by or on behalf of the Issuing Bank for sale pursuant to Section 4.07(b) of the Indenture (but in all events, in principal amounts equivalent to authorized denominations of Bonds under the terms of the Indenture)sale. Upon payment to the Issuing Bank and the Lenders of the amount amounts to be paid prepaid pursuant to clause (i) or (iiSection 3.1(b) above, together with accrued interest as set forth in clause (2) of Paragraph 3A(i)interest, to the date of such payment prepayment on the amount to be paidprepaid, the outstanding obligations of the Company Borrower under Paragraph 3A(iSection 3.1(b) above shall be reduced by the amount of such paymentprepayment, interest shall cease to accrue on the amount paid prepaid and the Bank Administrative Agent shall release (or shall be deemed to have released) from the pledge and security interest created by the Pledge Agreement hereunder a principal amount of Pledged Bonds equal to the amount of such payment, provided that prior to such release from the pledge and security interest created by the Pledge Agreement of Bonds delivered to or for the benefit of the Bank in connection with an "A Drawing", the Company shall have paid to the Bank the amount owing in respect of the "C Drawing", if any, made in conjunction with such "A Drawing"prepayment. Such Bonds shall be delivered to the Company Borrower on payment to the Issuing Bank and the Lenders as aforesaid or to the Tender Agent for sale pursuant to Section 4.08(b) of the applicable Indenture, as appropriate. Notwithstanding the foregoing, no payment prepayment of amounts owing to the Issuing Bank and the Lenders pursuant to Paragraph 3A(iSection 3.1(b) may be made, and no Pledged Bonds shall be released, during the period commencing two Business Days prior to an Interest Payment Date interest payment date with respect to the Bonds and ending at the close of business on such Interest Payment Dateinterest payment date.

Pledge of Bonds. (a) As security for the payment of the obligations of the Company Borrowers pursuant to Paragraph 3A(iSection 2.1(a) aboveabove and as more fully described below, the Company will pledge has pledged to the Bank, and grant granted to the Bank a security interest in, its right, title and interest in and to Bonds delivered to the Bank in connection with "“A Drawings" ” (herein called "“Pledged Bonds"), pursuant to a pledge and security agreement in the form of Annex II attached hereto (the "Pledge Agreement"”). Any amounts from time to time owing to the Bank pursuant to paragraph 3A(i) Section 2.1 above may be paid prepaid (i) at any time by the Company or any other Borrower on one Business Day's ’s notice stating the amount to be paid prepaid (which shall be $5,000 or an integral multiple thereof) and (ii) at any time on behalf of the Company on one Business Day's ’s notice from the Company directing the Bank to deliver (or to cause the Tender Agent Trustee to deliver) a specified principal amount of Pledged Bonds held by or on behalf of the Bank for sale pursuant to Section 4.07(b) of the Indenture (but in all events, in principal amounts equivalent to authorized denominations of Bonds under the terms of the Indenture)sale. Upon payment to the Bank of the amount to be paid prepaid pursuant to clause (iSection 2.1(a) or (iib) above, together with accrued interest as set forth in clause (2) of Paragraph 3A(iSection 2.1(a)(ii), to the date of such payment prepayment on the amount to be paidprepaid, the outstanding obligations of the Company Borrowers under Paragraph 3A(iSection 2.1(a) above shall be reduced by the amount of such paymentprepayment, interest shall cease to accrue on the amount paid prepaid and the Bank shall release (or shall be deemed to have released) from the pledge and security interest created by the Pledge Agreement hereunder a principal amount of Pledged Bonds equal to the amount of such paymentprepayment, provided that prior to such release from the pledge and security interest created by the Pledge Agreement hereunder of Bonds delivered to or for the benefit of the Bank in connection with an "“A Drawing", ,” the Company Borrowers shall have paid to the Bank the amount owing in respect of the "“C Drawing", ,” if any, made in conjunction with such "“A Drawing". .” Such Bonds shall be delivered to the Company on payment to the Bank as aforesaid or to the Tender Agent Trustee for sale pursuant to Section 4.08(b) of the Indenture, as appropriate. Notwithstanding the foregoing, no payment prepayment of amounts owing to the Bank pursuant to Paragraph 3A(iSection 2.1(a) may be made, and no Pledged Bonds shall be released, during the period commencing two Business Days prior on the Record Date with respect to an Interest Payment Date with respect to the Bonds and ending at the close of business on such Interest Payment Date.

Pledge of Bonds. (a) As security for the payment of the obligations of the Company pursuant to Paragraph 3A(iSection 3.1(a) aboveabove and as more fully described below, the Company will pledge hereby pledges to the Bank, and grant grants to the Bank a security interest in, its right, title and interest in and to Bonds delivered to the Bank in connection with "A Drawings" (herein called "Pledged Bonds"), pursuant to a pledge and security agreement in the form of Annex II attached hereto (the "Pledge Agreement"). Any amounts from time to time owing to the Bank pursuant to paragraph 3A(i) Section 3.1 above may be paid (i) at any time by the Company on one Business Day's notice stating the amount to be paid prepaid (which shall be $5,000 or an integral multiple thereof) and (ii) at any time on behalf of the Company on one Business Day's notice from the Company directing the Bank to deliver (or to cause the Tender Agent Trustee to deliver) a specified principal amount of Pledged Bonds held by or on behalf of the Bank for sale pursuant to Section 4.07(b) of the Indenture (but in all events, in principal amounts equivalent to authorized denominations of Bonds under the terms of the Indenture)sale. Upon payment to the Bank of the amount to be paid prepaid pursuant to clause (iSection 3.1(a) or (iib) above, together with accrued interest as set forth in clause (2) of Paragraph 3A(iSection 3.1(a)(ii), to the date of such payment on the amount to be paid, the outstanding obligations of the Company under Paragraph 3A(iSection 3.1(a) above shall be reduced by the amount of such paymentprepayment, interest shall cease to accrue on the amount paid prepaid and the Bank shall release (or shall be deemed to have released) from the pledge and security interest created by the Pledge Agreement hereunder a principal amount of Pledged Bonds equal to the amount of such payment, provided that prior to such release from the pledge and security interest created by the Pledge Agreement hereunder of Bonds delivered to or for the benefit of the Bank in connection with an "A Drawing", ," the Company shall have paid to the Bank the amount owing in respect of the "C Drawing", ," if any, made in conjunction with such "A Drawing". ." Such Bonds shall be delivered to the Company on payment to the Bank as aforesaid or to the Tender Agent Trustee for sale pursuant to Section 4.08(b) of the Indenture, as appropriate. Notwithstanding the foregoing, no payment of amounts owing to the Bank pursuant to Paragraph 3A(iSection 3.1(a) may be made, and no Pledged Bonds shall be released, during the period commencing two Business Days prior on the Record Date with respect to an Interest Payment Date with respect to the Bonds and ending at the close of business on such Interest Payment Date.

Pledge of Bonds. As security for the payment of the obligations of the Company Borrower pursuant to Paragraph 3A(iSection 3.1(b) aboveabove and as more fully described in Article Eight hereof, the Company will pledge Borrower has pledged to the BankAdministrative Agent, for the benefit of the Issuing Bank and the Lenders, and grant granted to the Administrative Agent, for the benefit of the Issuing Bank and the Lenders, a security interest in, all its rightrights, title and interest interests in and to all Bonds delivered (or, in the case of Bonds held under a book-entry system, reflected on the records of such Bonds as more fully described in Article Eight hereof) to the Issuing Bank in connection with "A “C Drawings" ” (herein called "“Pledged Bonds"), pursuant to a pledge and security agreement in the form of Annex II attached hereto (the "Pledge Agreement"”). Any amounts from time to time owing to the Issuing Bank and the Lenders pursuant to paragraph 3A(iSection 3.1(b) above may be paid prepaid (i) at any time by the Company Borrower on one Business Day's ’s notice stating the amount to be paid prepaid (which shall be $5,000 or an integral multiple thereof) and (ii) at any time on behalf of the Company Borrower on one Business Day's ’s notice from the Company Borrower directing the Issuing Bank to deliver (or to cause the Tender Agent applicable Trustee to deliverdeliver (or, in the case of Bonds held under a book-entry system, reflected on the records of such Bonds as more fully described in Article Eight hereof) a specified principal amount of Pledged Bonds held by or on behalf of the Issuing Bank for sale pursuant to Section 4.07(b) of the Indenture (but in all events, in principal amounts equivalent to authorized denominations of Bonds under the terms of the Indenture)sale. Upon payment to the Issuing Bank and the Lenders of the amount amounts to be paid prepaid pursuant to clause (i) or (iiSection 3.1(b) above, together with accrued interest as set forth in clause (2) of Paragraph 3A(i)interest, to the date of such payment prepayment on the amount to be paidprepaid, the outstanding obligations of the Company Borrower under Paragraph 3A(iSection 3.1(b) above shall be reduced by the amount of such paymentprepayment, interest shall cease to accrue on the amount paid prepaid and the Bank Administrative Agent shall release (or shall be deemed to have released) from the pledge and security interest created by the Pledge Agreement hereunder a principal amount of Pledged Bonds equal to the amount of such payment, provided that prior to such release from the pledge and security interest created by the Pledge Agreement of Bonds delivered to or for the benefit of the Bank in connection with an "A Drawing", the Company shall have paid to the Bank the amount owing in respect of the "C Drawing", if any, made in conjunction with such "A Drawing"prepayment. Such Bonds shall be delivered to the Company Borrower on payment to the Issuing Bank and the Lenders as aforesaid or to the Tender Agent for sale pursuant to Section 4.08(b) of the Indenture, as appropriate. Notwithstanding the foregoing, no payment prepayment of amounts owing to the Issuing Bank and the Lenders pursuant to Paragraph 3A(iSection 3.1(b) may be made, and no Pledged Bonds shall be released, during the period commencing two Business Days prior to an Interest Payment Date interest payment date with respect to the Bonds and ending at the close of business on such Interest Payment Dateinterest payment date.