Common use of Purchase of Bonds in Lieu of Redemption Clause in Contracts

Purchase of Bonds in Lieu of Redemption. When Bonds are called for redemption pursuant to the paragraphs captioned "Optional Redemption at a Premium During Long-Term Interest Rate Period", "Mandatory Redemption at Beginning of a New Long-Term Interest Rate Period" or "Mandatory Redemption Upon a Change in the Method of Determining the Interest Rate on the Bonds" in Section 8 of the form of the Bonds, the Company may purchase some of or all the Bonds called for redemption for a price equal to the otherwise applicable redemption price, if it (or the Remarketing Agent) gives written notice to the Trustee by 5:00 p.m. New York City time on the day before the redemption date that it wishes to purchase the Bonds the principal amount of which is specified in the notice and furnishes the Trustee sufficient money in sufficient time for the Trustee to make the purchase on the redemption date. The Trustee will purchase Bonds called for redemption pursuant to the paragraph captioned "Mandatory Redemption on Each Interest Payment Date During Commercial Paper Mode" unless otherwise instructed in writing by the Company, or unless the Indenture otherwise requires that they be redeemed and canceled, before the redemption date. The Trustee will purchase the Bonds pursuant to this Section only as provided in Section 4.02.

Purchase of Bonds in Lieu of Redemption. When Bonds are called for redemption pursuant to the paragraphs captioned "“Optional Redemption at a Premium During Long-Term Interest Rate Period", "Mandatory ,” “Optional Redemption at Beginning of a New Long-Term Interest During Daily or Weekly Rate Period" ” or "Mandatory “Optional Redemption Upon a Change During ARS Rate Period” as provided under paragraph 9 in the Method of Determining the Interest Rate on the Bonds" in Section 8 of the form of the BondsBond, the Company may purchase some of or all of the Bonds called for redemption for a price equal to the otherwise applicable redemption price, if it (or the Remarketing Agent) gives written notice to the Trustee by 5:00 p.m. New York City time on Trustee, the Remarketing Agent, the Auction Agent, the Broker-Dealers and the Bond Insurer not later than the day before the redemption date that it wishes to purchase the Bonds the principal amount of which is Bonds specified in the notice and furnishes notice, at a purchase price equal to the redemption price. On the date specified as the redemption date, the Trustee will be furnished sufficient money remarketing proceeds (or other funds provided by the Company as provided in Section 4.07(b) hereof) in sufficient time for the Trustee to make the purchase on the redemption date. The Trustee will Any such purchase of Bonds called for redemption pursuant to the paragraph captioned "Mandatory Redemption on Each Interest Payment Date During Commercial Paper Mode" unless otherwise instructed in writing by the Company, Company shall not be deemed to be a payment or unless the Indenture otherwise requires that they be redeemed and canceled, before the redemption date. The Trustee will purchase of the Bonds pursuant or any portion thereof and such purchase shall not operate to this Section only as provided in Section 4.02extinguish or discharge the indebtedness evidenced by such Bonds.