Common use of Substitution and Reinvestment of Defeasance Securities Clause in Contracts

Substitution and Reinvestment of Defeasance Securities. (i) Upon the written direction of an Authorized City Representative, subject to the conditions and limitations set forth in Subsection (e)(iii) below, the Escrow Agent shall sell, transfer and request the redemption of or otherwise dispose of the Defeasance Securities described in Schedule I hereto; provided, that subject to Subsection (e)(iii) below, there are substituted therefor and delivered to the Escrow Agent other Defeasance Securities.

Substitution and Reinvestment of Defeasance Securities. (i) Upon the written direction of an Authorized City Representative, subject to the conditions and limitations set forth in Subsection (e)(iii) below, the Escrow Agent shall sell, transfer and request the redemption of or otherwise dispose of the Defeasance Securities described in Schedule I and/or Schedule III hereto; provided, that subject to Subsection (e)(iii) below, there are substituted therefor and delivered to the Escrow Agent other Defeasance Securities.

Substitution and Reinvestment of Defeasance Securities. (i) Upon the written direction of an Authorized City Representative, subject to the conditions and limitations set forth in Subsection (e)(iiif)(iii) below, the Escrow Agent shall sell, transfer and request the redemption of or otherwise dispose of the Defeasance Securities described in Schedule I and/or Schedule III hereto; provided, that subject to Subsection (e)(iiif)(iii) below, there are substituted therefor and delivered to the Escrow Agent other Defeasance Securities.