Common use of Satisfaction and Discharge of the Indenture Clause in Contracts

Satisfaction and Discharge of the Indenture. This Indenture will be discharged and will cease to be of further effect as to all outstanding Securities when: (a) all Securities theretofore authenticated and delivered (except lost, stolen or destroyed Securities which have been replaced or paid and Securities for whose payment money has theretofore been deposited in trust and thereafter repaid to Issuer) have been delivered to Trustee for cancellation; or (1) all Securities not theretofore delivered to Trustee for cancellation have become due and payable by reason of the making of a notice of redemption or otherwise and Issuer has irrevocably deposited or caused to be deposited with Trustee as trust funds in trust for the purpose an amount sufficient to pay and discharge the entire indebtedness on the Securities not theretofore delivered to Trustee for cancellation for principal, premium, if any, and accrued interest to the date of maturity or redemption; (2) Issuer has paid all sums payable by it under this Indenture; and (3) Issuer has delivered irrevocable instructions to Trustee to apply the deposited money toward the payment of the Securities at maturity or the redemption date, as the case may be.