Common use of Unclaimed Moneys Clause in Contracts

Unclaimed Moneys. Except as may otherwise be required by applicable law, in case any moneys deposited with the Trustee for the payment of the principal of, premium, if any, or interest on any Bond remain unclaimed for three years after such principal, premium, if any, or interest has become due and payable, the Trustee may, and upon receipt of a written request of the Company Representative shall, pay over to the Company the amount so deposited and thereupon the Trustee and the Authority shall be released from any further liability with respect to the payment of such principal, premium or interest, and the owner of such Bond shall be entitled (subject to any applicable statute of limitations) to look only to the Company as an unsecured creditor for the payment thereof.

Unclaimed Moneys. Except as may otherwise be required by applicable law, in case any moneys deposited with the Trustee for the payment payment, of the principal of, or interest or premium, if any, or interest on on, any Bond remain unclaimed for three years after such principal, premium, if any, . interest or interest premium has become due and payable, the Trustee may, may and upon receipt of a written request of the Company Representative shall, Borrower will pay over to the Company Borrower the amount so deposited and thereupon the Trustee and the Authority Agency shall be released from any further liability with respect to the payment of such principal, interest or premium or interest, and the owner of such Bond shall be entitled (subject to any applicable statute of limitations) to look only to the Company Borrower as an unsecured creditor for the payment thereof. Section 303.

Unclaimed Moneys. Except as may otherwise be required by applicable law, in case any moneys deposited with the Trustee Disbursing Agent for the payment of the principal of, or interest or premium, if any, or interest on any Bond remain unclaimed for three (3) years after such principal, premium, if any, interest or interest premium has become due and payable, the Trustee Disbursing Agent may, and upon receipt of a written request of the Company Representative Borrower shall, pay over to the Company Borrower the amount so deposited in immediately available funds, without additional interest, and thereupon the Trustee Disbursing Agent and the Authority Agency shall be released from any further liability with respect to the payment of such principal, premium interest or interestpremium, and the owner of such Bond shall be entitled (subject to any applicable statute of limitations) to look only to the Company Borrower as an unsecured creditor for the payment thereof.