Common use of Purchase in Lieu of Redemption Clause in Contracts

Purchase in Lieu of Redemption. When Bonds are subject to optional redemption hereunder, Bonds paid for by or on behalf of the Company shall be purchased in lieu of redemption on the applicable redemption date at a purchase price equal to the applicable redemption price, plus accrued interest thereon to but not including the date of such purchase, if the Trustee has received a written request on or before the Business Day prior to the date such Bonds would otherwise be subject to redemption from the Company specifying that the moneys provided or to be provided by such party shall be used to purchase such Bonds in lieu of redemption. Moneys received for such purchase shall be held by the Trustee in the General Account within the Bond Fund established under Section 6.01 for the Registered Owner of the Bonds so purchased. No purchase of Bonds by the Company pursuant to this Section 3.07 or advance or use of any moneys to effectuate any such purchase shall be deemed to be a payment or redemption of such Bonds or any portion thereof, and such purchase shall not operate to extinguish or discharge the indebtedness evidenced by such Bonds. No Bonds purchased pursuant to this Section 3.07 shall be required to be remarketed by the Remarketing Agent unless the Remarketing Agent specifically agrees to undertake such remarketing.”

Purchase in Lieu of Redemption. When (a) Any Bonds are subject to optional called for redemption hereunder, Bonds paid for under this Indenture may be purchased by or on behalf of the Company shall be purchased in lieu of redemption on the applicable redemption date upon which such Bonds were to have been redeemed (the "Purchase in Lieu of Redemption Date") at a purchase price equal to the applicable redemption priceprice thereof, plus accrued interest Interest, if any, thereon to to, but not including including, the date Purchase in Lieu of such purchase, if the Trustee has received a written request on Redemption Date. On or before the Business Day prior to the date such Bonds would otherwise be subject to redemption from designated Purchase in Lieu of Redemption Date, the Company specifying that shall give written notice to the moneys provided or to be provided by such party shall be used Trustee and the Paying Agent of the aggregate principal amount of Bonds for which an election to purchase such Bonds in lieu of redemption. Moneys received for such purchase shall be held by the Trustee in the General Account within the Bond Fund established under Section 6.01 for the Registered Owner of the Bonds so purchased. No purchase of Bonds by the Company pursuant to this Section 3.07 or advance or use 3.05 is being made. Bonds to be purchased by the Company which are not delivered to the Trustee on the Purchase in Lieu of any moneys to effectuate any such purchase Redemption Date shall be deemed to have been purchased by the Company and the Company shall be a payment or redemption the Owner of such Bonds or any portion thereoffor all purposes under this Indenture, and Interest accruing on such purchase shall not operate to extinguish or discharge Bonds on and after the indebtedness evidenced by such Bonds. No Bonds purchased pursuant to this Section 3.07 Purchase In Lieu of Redemption Date shall be required payable solely to be remarketed by the Remarketing Agent unless Company. The Trustee shall authenticate (and the Remarketing Agent specifically agrees Issuer shall execute, if necessary) and deliver to undertake such remarketingthe Company a new Bond as provided in Section 2.11 hereof.”