Common use of Satisfaction of Indenture Clause in Contracts

Satisfaction of Indenture. (a) If the Authority shall pay, or cause to be paid, or there shall otherwise be paid (i) to the Noteholders, the principal of and interest on the Notes, at the times and in the manner stipulated in this Indenture and (ii) to all other Persons, all amounts payable or secured under this Indenture, then the pledge of the Trust Estate, except the Department SAP Rebate Fund, and all covenants, agreements and other obligations of the Authority to the Noteholders and all other obligations due and outstanding shall thereupon cease, terminate and become void and be discharged and satisfied, except to the extent payable from the Department SAP Rebate Fund. In such event, and upon written direction, the Trustee shall execute and deliver to the Authority all such instruments as may be desirable to evidence such discharge and satisfaction, and the Trustee shall pay over or deliver all money held by it under this Indenture to the Authority. If the Authority shall pay or cause to be paid, or there shall otherwise be paid, to the Noteholders of any Outstanding Notes the principal of and interest on such Notes and to all other Persons all amounts payable or secured under this Indenture, at the times and in the manner stipulated in this Indenture and such Notes, and such other agreement or instrument payments under which amounts are payable or secured under this Indenture, then such Notes and each such other Person shall cease to be entitled to any lien, benefit or security under this Indenture, and all covenants, agreements and obligations of the Authority to the Noteholders thereof and each such other Person shall thereupon cease, terminate and become void and be discharged and satisfied.

Satisfaction of Indenture. (a) If the Authority shall pay, or cause to be paid, or there shall otherwise be paid (i) to the NoteholdersRegistered Owners of the Notes, the principal of and interest on the Notes, at the times and in the manner stipulated in this Indenture and (ii) to all other Persons, all amounts payable or secured under this Indenture, then the pledge of the Trust Estate, except the Department SAP Rebate Fund, Estate and all covenants, agreements and other obligations of the Authority to the Noteholders and all other obligations due and outstanding Registered Owners of Notes shall thereupon cease, terminate and become void and be discharged and satisfied, except to the extent payable from the Department SAP Rebate Fund. In such event, and upon written direction, the Trustee shall execute and deliver to the Authority all such instruments as may be desirable to evidence such discharge and satisfaction, and the Trustee shall pay over or deliver all money held by it under this Indenture to the Authorityparty entitled to receive the same under this Indenture. If the Authority shall pay or cause to be paid, or there shall otherwise be paid, to the Noteholders Registered Owners of any Outstanding Notes the principal of and interest on such Notes and to all other Persons all amounts payable or secured under this Indenture, at the times and in the manner stipulated in this Indenture and such Notes, and such other agreement or instrument payments under which amounts are payable or secured under this Indenture, then such Notes and each such other Person shall cease to be entitled to any lien, benefit or security under this Indenture, and all covenants, agreements and obligations of the Authority to the Noteholders Registered Owners thereof and each such other Person shall thereupon cease, terminate and become void and be discharged and satisfied.

Satisfaction of Indenture. (a) If IF the Authority shall pay, or cause to be paid, or there shall otherwise be paid (i) to the NoteholdersRegistered Owners of the Notes, the principal of and interest on the Notes, at the times and in the manner stipulated in this Indenture and (ii) to all other Personspersons, all amounts payable or secured under this Indenture, then THEN the pledge of the Trust Estate, except the Department SAP Rebate Fund, Estate and all covenants, agreements and other obligations of the Authority to the Noteholders and all other obligations due and outstanding Registered Owners of Notes shall thereupon cease, terminate and become void and be discharged and satisfied, except to the extent payable from the Department SAP Rebate Fund. In such event, and upon written direction, the Trustee shall execute and deliver to the Authority all such instruments as may be desirable to evidence such discharge and satisfaction, and the Trustee shall pay over or deliver all money held by it under this Indenture to the Authorityparty entitled to receive the same under this Indenture. If IF the Authority shall pay or cause to be paid, or there shall otherwise be paid, to the Noteholders Registered Owners of any Outstanding Notes the principal of and interest on such Notes and to all other Persons all amounts payable or secured under this Indenture, at the times and in the manner stipulated in this Indenture and such Notes, and such other agreement or instrument payments under which amounts are payable or secured under this Indenture, then THEN such Notes and each such other Person shall cease to be entitled to any lien, benefit or security under this Indenture, and all covenants, agreements and obligations of the Authority to the Noteholders Registered Owners thereof and each such other Person shall thereupon cease, terminate and become void and be discharged and satisfied.

Satisfaction of Indenture. (a) If the Authority Corporation shall pay, or cause to be paid, or there shall otherwise be paid (i) to the Noteholders, the principal Registered Owners of and interest on the Notes, the Outstanding Amount of and the Interest Distribution Amount accrued but unpaid on the Notes at the times and in the manner stipulated in this Indenture and (ii) to all other Persons, all amounts payable or secured under this Indenture, then the pledge of the Trust Estate, except the Department SAP Rebate Fund, and all covenants, agreements agreements, and other obligations of the Authority Corporation to the Noteholders and all other obligations due and outstanding Registered Owners of Notes shall thereupon cease, terminate terminate, and become void and be discharged and satisfied, except to the extent payable from the Department SAP Rebate Fund. In such event, and upon written direction, the Trustee shall execute and deliver to the Authority Corporation all such instruments as may be desirable to evidence such discharge and satisfaction, and the Trustee shall pay over or deliver all money held by it under this Indenture to the Authorityparty entitled to receive the same under this Indenture. If the Authority Corporation shall pay or cause to be paid, or there shall otherwise be paid, to the Noteholders Registered Owners of any Outstanding Notes the principal Outstanding Amount of and interest the Interest Distribution Amount accrued but unpaid on such the Outstanding Notes and to all other Persons all amounts payable or secured under this Indenture, at the times and in the manner stipulated in this Indenture and such Notes, and such other agreement or instrument payments under which amounts are payable or secured under this Indenture, then such Notes and each such other Person shall cease to be entitled to any lien, benefit benefit, or security under this Indenture, and all covenants, agreements agreements, and obligations of the Authority Corporation to the Noteholders Registered Owners thereof and each such other Person shall thereupon cease, terminate terminate, and become void and be discharged and satisfied.

Satisfaction of Indenture. (a) If the Authority Issuer shall pay, or cause to be paid, or there shall otherwise be paid (i) to the NoteholdersRegistered Owners, the principal of and interest on the Notes, at the times and in the manner stipulated in this Indenture and (ii) to all other Personseach Swap Counterparty, all amounts payable or secured under this IndentureIssuer Swap Payments then due, then the pledge of the Trust Estate, except the Department SAP Rebate Fund, and all covenants, agreements agreements, and other obligations of the Authority Issuer to the Noteholders and all Registered Owners of Notes other obligations due and outstanding than as provided in the paragraph immediately following the Granting Clauses hereof shall thereupon cease, terminate terminate, and become void and be discharged and satisfied, except to the extent payable from the Department SAP Rebate Fund. In such event, and upon written direction, the Trustee shall execute and deliver to the Authority Issuer all such instruments as may be desirable to evidence such discharge and satisfaction, and the Trustee shall pay over or deliver all money held by it under this Indenture to the Authorityparty entitled to receive the same under this Indenture. If the Authority Issuer shall pay or cause to be paid, or there shall otherwise be paid, to the Noteholders Registered Owners of any Outstanding Notes the principal of and interest on such Notes and to each Swap Counterparty, all other Persons all amounts payable or secured under this IndentureCounterparty Swap Payments then due, at the times and in the manner stipulated in this Indenture and such Notesin the Swap Agreement, and such other agreement or instrument payments under which amounts are payable or secured under this Indenture, then such Notes and each such other Person Swap Counterparty shall cease to be entitled to any lien, benefit benefit, or security under this Indenture, and all covenants, agreements agreements, and obligations of the Authority Issuer to the Noteholders Registered Owners thereof and each such other Person Swap Counterparty shall thereupon cease, terminate terminate, and become void and be discharged and satisfied.