Common use of Termination and Discharge of Loan Agreement Clause in Contracts

Termination and Discharge of Loan Agreement. If the Corporation shall pay and discharge or provide for the payment or redemption and discharge of the whole amount of the principal of, redemption premium, if any, and interest on the Bonds at the time Outstanding as provided in the Bond Indenture, or shall make arrangements satisfactory to the Authority and the Bond Trustee for such payment or redemption and discharge, and shall pay or cause to be paid all other sums payable under this Loan Agreement, then all right, title and interest of the Authority and the Bond Trustee under this Loan Agreement shall thereupon cease, terminate and become void (except as provided in Section 9.1 of this Loan Agreement), the Loan and the Bonds shall cease to be entitled to any benefit under this Loan Agreement, and all covenants, agreements and obligations of the Corporation to the Bond Trustee and the Owners of the Bonds shall thereupon cease, terminate and become void; provided that the Owners of the Bonds shall be entitled to payment thereof at the times and in the manner stipulated therein and in the Bond Indenture from the sources provided for such payment.

Termination and Discharge of Loan Agreement. If the Corporation shall pay and discharge or provide for the payment or redemption and discharge of the whole amount of the principal of, redemption premium, if any, and interest on the Bonds Notes at the time Outstanding as provided in the Bond Indenture, or shall make arrangements satisfactory to the Authority and the Bond Trustee for such payment or redemption and discharge, and shall pay or cause to be paid all other sums payable under this Loan Agreement, then all right, title and interest of the Authority and the Bond Trustee under this Loan Agreement shall thereupon cease, terminate and become void (except as provided in Section 9.1 of this Loan Agreement), the Loan and the Bonds Notes shall cease to be entitled to any benefit under this Loan Agreement, and all covenants, agreements and obligations of the Corporation to the Bond Trustee and the Owners of the Bonds Notes shall thereupon cease, terminate and become void; provided that the Owners of the Bonds Notes shall be entitled to payment thereof at the times and in the manner stipulated therein and in the Bond Indenture from the sources provided for such payment.

Termination and Discharge of Loan Agreement. If the Corporation Company shall pay and discharge or provide for the payment or redemption and discharge of the whole amount of the principal of, redemption premium, if any, and interest on the Bonds at the time Outstanding as provided in the Bond Indenture, or shall make arrangements satisfactory to the Authority Issuer and the Bond Trustee for such payment or redemption and discharge, and shall pay or cause to be paid all other sums payable under this Loan Agreement, then all right, title and interest of the Authority Issuer and the Bond Trustee under this Loan Agreement shall thereupon cease, terminate and become void (except as provided in Section 9.1 Sections 4.2 and 6.6 of this Loan Agreement), the Loan and the Bonds shall cease to be entitled to any benefit under this Loan Agreement, and all covenants, agreements and obligations of the Corporation Company to the Bond Trustee and the Owners owners of the Bonds shall thereupon cease, terminate and become void; provided that the Owners owners of the Bonds shall be entitled to payment thereof at the times and in the manner stipulated therein and in the Bond Indenture from the sources provided for such payment.