Common use of Termination of Obligation Clause in Contracts

Termination of Obligation. As provided in the Prior Indenture, upon deposit of moneys with the Escrow Bank in the Escrow Fund as set forth in Section 1 hereof and the purchase of the various Federal Securities as provided in Section 2 hereof, the owners of the Prior Bonds shall cease to be entitled to the pledge of and lien on the Revenues as provided in the Prior Indenture, and all agreements and covenants of the Former Agency and the Trustee under the Prior Indenture shall cease, terminate and become void and shall be discharged and satisfied, except as set forth in the Prior Indenture.

Termination of Obligation. As provided in the Prior Indenture, upon deposit of moneys with the Escrow Bank in the Escrow Fund as set forth in Section 1 hereof and the purchase of the various Federal Securities as provided in Section 2 hereof, the owners of the Prior Bonds shall cease to be entitled to the pledge of the Tax Revenues and lien on the Revenues as other funds provided for in the Prior Indenture, and all agreements and covenants other obligations of the Former Successor Agency and the Trustee under the Prior Indenture with respect to the Prior Bonds shall cease, terminate cease and become void and shall be discharged and satisfiedterminate, except as set forth in the Prior Indenture.

Termination of Obligation. As provided in the Prior Indenture, upon deposit of moneys with the Escrow Bank in the Escrow Fund as set forth in Section 1 hereof and the purchase of the various Federal Securities as provided in Section 2 hereof, the owners of the Prior Bonds shall cease to be entitled to the pledge of and lien on the Revenues as provided in the Prior Indenture, and all agreements and covenants of the Former Agency and the Trustee under the Prior Indenture with respect to the Prior Bonds shall cease, terminate and become void and shall be discharged and satisfied, except as set forth in the Prior Indenture.