Common use of Substitution of Certain Government Obligations Clause in Contracts

Substitution of Certain Government Obligations. 2.5.1 If so directed by the School Board, the Escrow Agent shall accept in substitution for all or a portion of the Government Obligations listed in Schedule B, Government Obligations (the “Substituted Securities”), the principal of and interest on which, together with any Government Obligations listed in Schedule C for which no substitution is made, will meet the requirements of payment of all Basic Lease Payments represented by, and the Prepayment Price of, the Refunded Certificates as set forth in Schedule C hereof. The foregoing notwithstanding, the substitution of Substituted Securities for any of the Government Obligations listed in Schedule B may be effected only upon compliance with Section 2.5.2(a) and (b) below.

Substitution of Certain Government Obligations. 2.5.1 2.4.1 If so directed in writing by the School Board, the Escrow Agent shall accept in substitution for all or a portion of the Government Obligations listed in Schedule B, Government Obligations (the “Substituted Securities”), the principal of and interest on which, together with any Government Obligations listed in Schedule C B for which no substitution is made, will meet the requirements of payment of all Basic Lease Payments represented by, and the Prepayment Price of, the Refunded Certificates as set forth in Schedule C hereof. The foregoing notwithstanding, the substitution of Substituted Securities for any of the Government Obligations listed in Schedule B may be effected only upon compliance with Section 2.5.2(a2.4.2(a) and (b) below.

Substitution of Certain Government Obligations. 2.5.1 If so directed in writing by the School Board, the Escrow Agent shall accept in substitution for all or a portion of the Government Obligations listed in Schedule B, Government Obligations (the “Substituted Securities”), the principal of and interest on which, together with any Government Obligations listed in Schedule C for which no substitution is made, will meet the requirements of payment of all Basic Lease Payments represented by, and the Prepayment Price of, the Refunded Series 2012A Certificates as set forth in Schedule C hereof. The foregoing notwithstanding, the substitution of Substituted Securities for any of the Government Obligations listed in Schedule B may be effected only upon compliance with Section 2.5.2(a) and (b) below.