Common use of Repayment of Moneys Held by Paving Agent Clause in Contracts

Repayment of Moneys Held by Paving Agent. In connection with the satisfaction and discharge of this Bond Indenture or the Covenant Defeasance Option or Legal Defeasance Option with respect to the Bonds, all moneys then held by any Paying Agent other than the Bond Trustee under the provisions of this Bond Indenture with respect to such Bonds shall, upon demand of the Bond Issuer, be paid to the Bond Trustee to be held and applied according to Section 3.03 and thereupon such Paying Agent shall be released from all further liability with respect to such moneys.