Common use of Prepayments; Reinstatement of Letter of Credit Amounts Clause in Contracts

Prepayments; Reinstatement of Letter of Credit Amounts. (a) The Company may, upon same-day notice to the Administrative Agent, prepay the outstanding amount of any Advance in whole or in part with accrued interest to the date of such prepayment on the amount prepaid. (b) Prior to or simultaneously with the remarketing or redemption of Bonds acquired by any Trustee with the proceeds of one or more draws under the Letters of Credit related to such Bonds by one or more Tender Drafts, or if any Pledged Bonds shall be determined to be invalid, the Company shall prepay or cause the Trustee on behalf of the Company to prepay the then outstanding Tender Advances resulting from such draw or draws (in the order in which they were made) and accrued interest thereon, if any, by paying (or causing to be paid) to the Administrative Agent (if such prepayment is being made by the Company), for the account of the Banks in proportion to their respective Shares, or to the applicable L/C Issuer (if such prepayment is being made by any Trustee), for the account of the Banks in proportion to their respective Shares, an amount equal to the sum of (i) the aggregate principal amount of the Bonds being resold or to be resold or being redeemed or that have been determined to be invalid, plus (ii) accrued interest thereon, for application to the prepayment of such Advances. With respect to payments of Tender Advances made by any Trustee to any L/C Issuer, such payments, when such L/C Issuer shall also have received certificates completed and signed by the Trustee in substantially the form provided in the applicable Letter of Credit, shall be applied by the Administrative Agent in reimbursement of such drawings (and as prepayment of Tender Advances resulting from such drawings in the manner described

Prepayments; Reinstatement of Letter of Credit Amounts. (a) The Company mayCompany, upon same-day notice to the Administrative AgentBank (stating the amount to be prepaid), may prepay the outstanding principal amount of any Tender Advance in whole or in part part, together with accrued interest to the date of such prepayment on the amount prepaid. (b) Prior to or simultaneously Simultaneously with the successful remarketing or redemption and resale of Bonds acquired by any Trustee with the proceeds of one or more draws under the Letters of Credit related to such Bonds by one or more Tender Drafts, or if any Pledged Bonds shall be determined to be invalidBonds, the Company shall prepay or cause the Trustee on behalf of the Company to prepay the then outstanding Tender Advances resulting from relating to such draw or draws (in the order in which they were made) and Pledged Bonds, together with accrued interest thereon, if any, by paying (or causing to be paid) to the Administrative Agent (if date of such prepayment is being made by on the (c) Any prepayment to the Company), for the account of the Banks in proportion to their respective Shares, Guarantor or to the applicable L/C Issuer (if such prepayment is being made by any Trustee), for the account Bank on behalf of the Banks in proportion to their respective Shares, an amount equal to Guarantor of the sum of (i) the aggregate principal amount of Tender Advances shall be accompanied by notice from the Company or its designee requesting the Bank to release Pledged Bonds being resold pursuant to Section 4 of the Pledge Agreement, and specifying the principal amount thereof. Such notice may be given by telephone (promptly confirmed in writing) but shall not be effective unless received by the Bank prior to [____] A.M. (Los Angeles Time) on the day of the proposed prepayment. The Bank shall not release any Pledged Bonds for sale or to be resold or being redeemed or that otherwise until the Bank shall have been determined to be invalid, plus (ii) accrued interest thereon, for application to received the prepayment amount of such Advancesprepayment. With respect The Company and the Guarantor each hereby authorizes the Bank to payments reinstate the Letter of Tender Advances made by any Trustee to any L/C Issuer, such payments, when such L/C Issuer shall also have received certificates completed Credit at the times and signed by the Trustee in substantially the form provided in the applicable manner specified in the Letter of Credit, . (d) Pledged Bonds pledged to secure any Tender Advances shall be applied by pledged to the Administrative Agent in reimbursement of such drawings (Bank, for its benefit and as prepayment of Tender Advances resulting from such drawings agent for the Lenders under the Credit Agreement, in accordance with the manner describedPledge Agreement.

Prepayments; Reinstatement of Letter of Credit Amounts. (a) The Company may, upon same-day notice to the Administrative Agent, may prepay the outstanding amount of any Tender Advance in whole or in part part, together with accrued interest to the date of such prepayment on the amount prepaid. The Company shall notify the Bank on the date of such prepayment of the amount to be prepaid, which notice shall be given prior to such payment. In addition, the Company shall, forthwith, prepay or cause to be prepaid pursuant to this subsection (a) any amount owing to the Bank as a result of any Tender Advance for the purpose of paying the purchase price of any Bond delivered to the Trustee, if the Remarketing Agent failed, for any reason, to pay or tender payment of the purchase price of such Bond when due to or for the account of the person entitled thereto and such failure is continuing or any other person shall assert that such person has a lien on or security interest in such Bond. Upon payment to the Bank of the amount of such Tender Advance to be prepaid pursuant to this subsection, together with accrued interest on such Tender Advance to the date of such prepayment on the amount to be prepaid, the principal amount outstanding of Tender Advances shall be reduced by the amount of such prepayment, interest shall cease to accrue on the amount prepaid and the Bank shall release or cause to be released to the Trustee, in accordance with the terms of the Indenture, a principal amount of Bonds, if any, then held under pledge equal to the principal amount of such prepayment. (b) Prior to or simultaneously with the remarketing or redemption resale of Bonds acquired by any the Trustee with the proceeds of one or more draws under the Letters Letter of Credit related to such Bonds by one or more Tender Drafts, or if any Pledged Bonds shall be determined to be invalidCredit, the Company shall prepay or cause the Trustee on behalf of the Company to prepay the then outstanding Tender Advances resulting from such draw or draws (in the order in which they were made) and accrued interest thereon, if any, by paying (or causing to be paid) to the Administrative Agent (if such prepayment is being made by the Company), for the account of the Banks in proportion to their respective Shares, or to the applicable L/C Issuer (if such prepayment is being made by any Trustee), for the account of the Banks in proportion to their respective Shares, Bank an amount equal to the sum of (i) the portion of the purchase price corresponding to the aggregate principal amount of the Bonds being resold or to be resold or being redeemed or that have been determined to be invalidresold, plus (ii) accrued interest thereon, for application the portion of the purchase price corresponding to the prepayment aggregate amount of accrued and unpaid interest on such Bonds, plus (iii) the aggregate amount of accrued and unpaid interest on such Tender Advances, less the amount paid pursuant to the immediately preceding clause (ii). With respect to payments of Tender Advances made by any Trustee to any L/C Issuer, such payments, when such L/C Issuer shall also have received certificates completed and signed by the Trustee in substantially the form provided in the applicable Letter of Credit, Such payment shall be applied by the Administrative Agent Bank in reimbursement of such drawings (and as prepayment of Tender Advances resulting from such drawings in the manner describeddescribed above), and, the Company irrevocably authorizes the Bank to reinstate the Letter of Credit in accordance therewith. In connection with a prepayment of Tender Advances from proceeds of the resale of Bonds, the Company or its designee shall deliver notice to the Bank, prior to 11:00 A.M. (prevailing Eastern Time) on the date of such proposed prepayment, directing the Bank to deliver Bonds held by the Bank or its designee to the Remarketing Agent for sale pursuant to the Indenture, and specifying the principal amount of Bonds to be sold, which notice may be given by telephone (promptly confirmed in writing). (c) The Company agrees that, pursuant to the provisions of the Indenture, Bonds purchased with proceeds of a drawing under the Letter of Credit shall be (i) registered by the Trustee in the name of the Bank and held by the Bank or its designee (including the Trustee), as agent and bailee of the Bank, expressly subject to the pledge in favor of the Bank, and deemed held by the Trustee, as agent and bailee for the account of the Bank and (ii) in the event Bonds shall be certificated, held by the Trustee as agent and bailee for the account of the Bank or, at the Bank's election, delivered by the Trustee to the Bank or its designee. All such Bonds are to be held by the Bank or its agent, bailee or designee in pledge as collateral securing the Company's payment obligations to the Bank hereunder as provided for in Section 2.14 hereof. Upon payment to the Bank of the amount of such drawings, together with accrued interest, if required due to failure to pay such amounts on the date when due, on such amount, calculated at the Default Rate, to the date of payment, and upon written notice to the Trustee that the Bank has reinstated the Letter of Credit, in an amount sufficient to cover all principal and accrued interest on the Bonds so released for up to 35 days at 12% per annum, with respect to Bonds purchased with proceeds of such drawings, the Bank shall release, in accordance with the terms of the Indenture, a principal amount of Bonds, if any, then held under the pledge equal to the amount of such payment corresponding to the principal portion of such Bonds.