Common use of WITHDRAWAL OR OTHER APPLICATION OF FUNDED CASH Clause in Contracts

WITHDRAWAL OR OTHER APPLICATION OF FUNDED CASH. (a) Subject to the provisions of Section 4.05 and Section 6.07 and except as hereafter in this Section provided, unless an Event of Default shall have occurred and be continuing, any Funded Cash held by the Trustee, and any other cash which is required to be withdrawn, used or applied as provided in this Section: (i) may be withdrawn from time to time by the Company to the extent of the Cost or the Fair Value to the Company (whichever is less) of Unbonded Property Additions, after making any deductions pursuant to Section 1.04(b), described in an Engineer’s Certificate, dated not more than ninety (90) days prior to the date of the Company Order requesting such withdrawal and complying with clause (ii) of Section 4.03(b), delivered to the Trustee; provided, however, that the deductions contemplated by Section 1.04(b) shall not be required to be made if such Property Additions were acquired, made or constructed on or after the ninetieth (90th) day preceding the date of such Company Order; (ii) may be withdrawn from time to time by the Company on the basis of Bonds the authentication and delivery of which the Company shall be entitled under the provisions of Section 4.04, by virtue of compliance with all applicable provisions of Section 4.04 (except as hereinafter in this Section otherwise provided) (A) in the case of cash deposited with the Trustee under Section 4.05 or Section 7.02(a), in an amount equal to the aggregate principal amount of such Bonds and (B) in the case of all other Funded Cash and any other cash, in an amount equal to 20/15ths of such aggregate principal amount; provided, however, that such withdrawal of cash shall operate as a waiver by the Company of the authentication and delivery of such Bonds and, to such extent no such Bonds may thereafter be authenticated and delivered hereunder; and any such Bonds which were the basis of such right to the authentication and delivery of Bonds so waived shall be deemed to have been made the basis of such withdrawal of cash; (iii) may be withdrawn from time to time by the Company in an amount equal to 20/15ths of the aggregate principal amount of any Outstanding Bonds delivered to the Trustee; (iv) may, upon the request to the Company, be used by the Trustee for the purchase of Bonds in the manner, at the time or times, in the amount or amounts, at the price or prices (not exceeding 20/15ths of the principal amount thereof) and otherwise as directed or approved by the Company; or (v) may, upon the request of the Company, be applied by the Trustee to the payment at Stated Maturity of any Bonds or to the redemption of any Bonds which are, by their terms, redeemable, in each case of such series as may be designated by the Company, any such redemption to be in the manner and as provided in Article V. (b) Such moneys shall, from time to time, be paid or used or applied by the Trustee, as aforesaid, upon the request of the Company in a Company Order, and upon receipt by the Trustee of an Officer’s Certificate stating that no Event of Default has occurred and is continuing. If and to the extent that the withdrawal of cash is based upon Unbonded Property Additions (as permitted under the provisions of clause (i) of Section 8.06(a)), the Company shall, subject to the provisions of said clause (i) and except as hereafter in this subsection provided, comply with all applicable provisions of this Indenture as if such Property Additions were made the basis for the authentication and delivery of Bonds equal in principal amount to 75% of the cash to be withdrawn. If and to extent that the withdrawal of cash is based upon the right to the authentication and delivery of Bonds (as permitted under the provisions of clause (ii) of Section 8.06(a)), the Company shall, except as hereafter in this subsection (b) provided, comply with all applicable provisions of Section 4.04 relating to such authentication and delivery. Notwithstanding the foregoing provisions of this subsection (b) and of Section 4.04, in no event shall the Company be required to comply with Section 4.01. (c) The principal of and interest on any obligations secured by a Purchase Money Lien held by the Trustee shall be collected by the Trustee as and when the same become payable. Unless an Event of Default shall have occurred and be continuing, the interest received by the Trustee on any such obligations shall be remitted to the Company, and any payments received by the Trustee on account of the principal of any such obligations in excess of the amount of credit used by the Company in respect of such obligations upon the release of any property from the Lien hereof shall be deemed not to constitute Funded Cash and shall also be remitted to the Company. The Trustee shall have and may exercise all the rights and powers of an owner of such obligations and of all substitutions therefor and, without limiting the generality of the foregoing, may collect and receive all insurance moneys payable to it under any of the provisions thereof and apply the same in accordance with the provisions thereof, may consent to extensions thereof at a higher or lower rate of interest, may join in any plan or plans of voluntary or involuntary reorganization or readjustment or rearrangement and may accept and hold hereunder new obligations, stocks or other securities issued in exchange therefor under any such plan. Any discretionary action which the Trustee may be entitled to take in connection with any such obligations or substitutions therefor shall be taken, so long as no Event of Default shall exist, in accordance with a Company Order, and, during the existence of an Event of Default, in its own discretion. (d) Any Bonds received by the Trustee pursuant to the provisions of this Section shall forthwith be canceled by the Trustee.

WITHDRAWAL OR OTHER APPLICATION OF FUNDED CASH. (a) Subject to the provisions of Section 4.05 and Section 6.07 4.4 and except as hereafter in this Section provided, unless an Event of Default shall have occurred and be continuing, any Funded Cash held by the Trustee, and any other cash which is required to be withdrawn, used or applied as provided in this Section:, (ia) may be withdrawn from time to time by the Company to the extent of an amount equal to 60% of the Cost or the Fair Value to the Company (whichever is less) of Unbonded Property AdditionsAdditions not constituting Funded Property, after making any deductions and additions pursuant to Section 1.04(b)1.3, described in an EngineerExpert’s Certificate, dated not more than ninety (90) days prior to the date of the Company Order requesting such withdrawal and complying with clause (ii) and, to the extent applicable, clause (iii) of Section 4.03(b4.2(b), delivered to the Trustee; provided, however, that the deductions and additions contemplated by Section 1.04(b) 1.3 shall not be required to be made if such Property Additions were acquired, made or constructed on or after the ninetieth (90th) day preceding the date of such Company Order; (iib) may be withdrawn from time to time by the Company on in an amount equal to the basis aggregate principal amount of Bonds Securities to the authentication and delivery of which the Company shall be entitled under the provisions of Section 4.044.3 hereof, by virtue of compliance with all applicable provisions of Section 4.04 4.3 (except as hereinafter in this Section otherwise provided) (A) in the case of cash deposited with the Trustee under Section 4.05 or Section 7.02(a), in an amount equal to the aggregate principal amount of such Bonds and (B) in the case of all other Funded Cash and any other cash, in an amount equal to 20/15ths of such aggregate principal amount; provided, however, that such withdrawal of cash shall operate as a waiver by the Company of the right to the authentication and delivery of such Bonds Securities and, to such extent extent, no such Bonds Securities may thereafter be authenticated and delivered hereunder; and any such Bonds Securities which were the basis of such right to the authentication and delivery of Bonds Securities so waived shall be deemed to have been made the basis of such withdrawal of cash; (iiic) may be withdrawn from time to time by the Company in an amount equal to 20/15ths of the aggregate principal amount of any Outstanding Bonds Securities delivered to the Trustee; (ivd) may, upon the request to of the Company, be used by the Trustee for the purchase of Bonds Securities in the manner, at the time or times, in the amount or amounts, at the price or prices (not exceeding 20/15ths of the principal amount thereof) and otherwise as directed or approved by the Company, all subject to the limitations hereafter in this Section set forth; or (ve) may, upon the request of the Company, be applied by the Trustee to the payment (or provision therefor pursuant to Article 9) at Stated Maturity of any Bonds Securities or to the redemption (or similar provision therefor) of any Bonds Securities which are, by their terms, redeemable, in each case of such series as may be designated by the Company, any such redemption to be in the manner and as provided in Article V. (b) 5, all subject to the limitations hereafter in this Section set forth. Such moneys shall, from time to time, be paid or used or applied by the Trustee, as aforesaid, upon the request of the Company in a Company Order, and upon receipt by the Trustee of an Officer’s Certificate stating that that, to the knowledge of the signer, no Event of Default has occurred and is continuing. If and to the extent that the withdrawal of cash is based upon Unbonded Property Additions (as permitted under the provisions of clause (ia) of Section 8.06(a)above), the Company shall, subject to the provisions of said clause (ia) and except as hereafter in this subsection paragraph provided, comply with all applicable provisions of this Indenture as if such Property Additions were made the basis for the authentication and delivery of Bonds Securities equal in principal amount to 75% of the cash so to be withdrawn. If and to the extent that the withdrawal of cash is based upon the right to the authentication and delivery of Bonds Securities (as permitted under the provisions of clause (iib) of Section 8.06(a)above), the Company shall, except as hereafter in this subsection (b) paragraph provided, comply with all applicable provisions of Section 4.04 4.3 relating to such authentication and delivery. Notwithstanding the foregoing provisions of this subsection (b) and of Section 4.04paragraph, in no event shall the Company be required to comply with deliver the documents specified in Section 4.01. 4.1. Notwithstanding the generality of clauses (cd) The principal of and interest on any obligations secured by a Purchase Money Lien held by the Trustee (e) above, no cash to be applied pursuant to such clauses shall be collected by the Trustee as and when the same become payable. Unless an Event of Default shall have occurred and be continuing, the interest received by the Trustee on any such obligations shall be remitted applied to the Company, and any payments received by the Trustee on account payment of the principal of any such obligations an amount in excess of the principal amount of credit used by the Company in respect of such obligations upon the release of any property from the Lien hereof shall Securities to be deemed not to constitute Funded Cash and shall also be remitted purchased, paid or redeemed except to the Company. The Trustee shall have and may exercise extent that the aggregate principal amount of all the rights and powers of an owner of such obligations Securities theretofore, and of all substitutions therefor andSecurities then to be, without limiting purchased, paid or redeemed pursuant to such clauses is not less than the generality of the foregoingaggregate cost for principal of, may collect premium, if any, and receive all insurance moneys payable to it under any of the provisions thereof and apply the same in accordance with the provisions thereof, may consent to extensions thereof at a higher or lower rate of accrued interest, may join in any plan or plans of voluntary or involuntary reorganization or readjustment or rearrangement if any, on and may accept and hold hereunder new obligationsbrokerage commissions, stocks or other securities issued in exchange therefor under any if any, with respect to, such planSecurities. Any discretionary action which the Trustee may be entitled Outstanding Securities delivered to take in connection with any such obligations or substitutions therefor shall be taken, so long as no Event of Default shall exist, in accordance with a Company Order, and, during the existence of an Event of Default, in its own discretion. (d) Any Bonds received by the Trustee pursuant to clause (c) in the provisions first paragraph of this Section shall forthwith be canceled by the Trustee.

WITHDRAWAL OR OTHER APPLICATION OF FUNDED CASH. (a) Subject to the provisions of Section 4.05 and Section 6.07 4.4 and except as hereafter in this Section provided, unless an Event of Default shall have occurred and be continuing, any Funded Cash held by the Trustee, and any other cash which is required to be withdrawn, used or applied as provided in this Section:, (ia) may be withdrawn from time to time by the Company to the extent of an amount equal to 70% of the Cost or the Fair Value to the Company (whichever is less) of Unbonded Property AdditionsAdditions not constituting Funded Property, after making any deductions and additions pursuant to Section 1.04(b)1.3, described in an EngineerExpert’s Certificate, dated not more than ninety (90) days prior to the date of the Company Order requesting such withdrawal and complying with clause (ii) and, to the extent applicable, clause (iii) of Section 4.03(b4.2(b), delivered to the Trustee; provided, however, that the deductions and additions contemplated by Section 1.04(b) 1.3 shall not be required to be made if such Property Additions were acquired, made or constructed on or after the ninetieth (90th) day preceding the date of such Company Order; (iib) may be withdrawn from time to time by the Company on in an amount equal to the basis aggregate principal amount of Bonds Securities to the authentication and delivery of which the Company shall be entitled under the provisions of Section 4.044.3 hereof, by virtue of compliance with all applicable provisions of Section 4.04 4.3 (except as hereinafter in this Section otherwise provided) (A) in the case of cash deposited with the Trustee under Section 4.05 or Section 7.02(a), in an amount equal to the aggregate principal amount of such Bonds and (B) in the case of all other Funded Cash and any other cash, in an amount equal to 20/15ths of such aggregate principal amount; provided, however, that such withdrawal of cash shall operate as a waiver by the Company of the right to the authentication and delivery of such Bonds Securities and, to such extent extent, no such Bonds Securities may thereafter be authenticated and delivered hereunder; and any such Bonds Securities which were the basis of such right to the authentication and delivery of Bonds Securities so waived shall be deemed to have been made the basis of such withdrawal of cash; (iiic) may be withdrawn from time to time by the Company in an amount equal to 20/15ths of the aggregate principal amount of any Outstanding Bonds Securities delivered to the Trustee; (ivd) may, upon the request to of the Company, be used by the Trustee for the purchase of Bonds Securities in the manner, at the time or times, in the amount or amounts, at the price or prices (not exceeding 20/15ths of the principal amount thereof) and otherwise as directed or approved by the Company, all subject to the limitations hereafter in this Section set forth; or (ve) may, upon the request of the Company, be applied by the Trustee to the payment (or provision therefor pursuant to Article 9) at Stated Maturity of any Bonds Securities or to the redemption (or similar provision therefor) of any Bonds Securities which are, by their terms, redeemable, in each case of such series as may be designated by the Company, any such redemption to be in the manner and as provided in Article V. (b) 5, all subject to the limitations hereafter in this Section set forth. Such moneys shall, from time to time, be paid or used or applied by the Trustee, as aforesaid, upon the request of the Company in a Company Order, and upon receipt by the Trustee of an Officer’s Certificate stating that that, to the knowledge of the signer, no Event of Default has occurred and is continuing. If and to the extent that the withdrawal of cash is based upon Unbonded Property Additions (as permitted under the provisions of clause (ia) of Section 8.06(a)above), the Company shall, subject to the provisions of said clause (ia) and except as hereafter in this subsection paragraph provided, comply with all applicable provisions of this Indenture as if such Property Additions were made the basis for the authentication and delivery of Bonds Securities equal in principal amount to 75% of the cash so to be withdrawn. If and to the extent that the withdrawal of cash is based upon the right to the authentication and delivery of Bonds Securities (as permitted under the provisions of clause (iib) of Section 8.06(a)above), the Company shall, except as hereafter in this subsection (b) paragraph provided, comply with all applicable provisions of Section 4.04 4.3 relating to such authentication and delivery. Notwithstanding the foregoing provisions of this subsection (b) and of Section 4.04paragraph, in no event shall the Company be required to comply deliver the documents specified in Section 4.1. Notwithstanding the generality of clauses (d) and (e) above, no cash to be applied pursuant to such clauses shall be applied to the payment of an amount in excess of the principal amount of any Securities to be purchased, paid or redeemed except to the extent that the aggregate principal amount of all Securities theretofore, and of all Securities then to be, purchased, paid or redeemed pursuant to such clauses is not less than the aggregate cost for principal of, premium, if any, and accrued interest, if any, on and brokerage commissions, if any, with Section 4.01. respect to, such Securities. Any Outstanding Securities delivered to the Trustee pursuant to clause (c) in the first paragraph of this Section shall forthwith be canceled by the Trustee. Any obligations secured by Purchase Money Lien delivered to the Trustee in consideration of the release of property from the Lien of this Indenture, together with any evidence of such Purchase Money Lien held by the Trustee, shall be released from the Lien of this Indenture and delivered to or upon the order of the Company upon payment by the Company to the Trustee of an amount in cash equal to the aggregate principal amount of such obligations less the aggregate amount theretofore paid to the Trustee (by the Company, the obligor or otherwise) in respect of the principal of such obligations. The principal of and interest on any such obligations secured by a Purchase Money Lien held by the Trustee shall be collected held by the Trustee as and when the same become payableare received by the Trustee. Unless The interest received by the Trustee on any such obligations shall be deemed not to constitute Funded Cash and shall be remitted to the Company; provided, however, that if an Event of Default shall have occurred and be continuing, the interest received by the Trustee on any such obligations proceeds shall be remitted to the Company, and any payments received by the Trustee on account held as part of the principal Mortgaged Property until such Event of any such obligations in excess of the amount of credit used by the Company in respect of such obligations upon the release of any property from the Lien hereof Default shall be deemed not to constitute Funded Cash and shall also be remitted to the Companyhave been cured or waived. The Trustee shall have and may exercise all the rights and powers of an any owner of such obligations and of all substitutions therefor and, without limiting the generality of the foregoing, may collect and receive all insurance moneys payable to it under any of the provisions thereof and apply the same in accordance with the provisions thereof, may consent to extensions thereof at a higher or lower rate of interest, may join in any plan or plans of voluntary or involuntary reorganization or readjustment or rearrangement and may accept and hold hereunder new obligations, stocks or other securities issued in exchange therefor under any such plan. Any discretionary action which the Trustee may be entitled to take in connection with any such obligations or substitutions therefor shall be taken, so long as no Event of Default shall existhave occurred and be continuing, in accordance with a Company Order, and, during the existence continuance of an Event of Default, in its own discretion.. Anything herein to the contrary notwithstanding, the Company may irrevocably waive all right to the withdrawal pursuant to this Section of, and any other rights with respect to, any obligations secured by Purchase Money Lien held by the Trustee, and the proceeds of any such obligations, by delivery to the Trustee of a Company Order: (da) Any Bonds received specifying such obligations and stating that the Company thereby waives all rights to the withdrawal thereof and of the proceeds thereof pursuant to this Section, and any other rights with respect thereto; and (b) directing that the principal of such obligations be applied as provided in clause (e) in the first paragraph of this Section, specifying the Securities to be paid or redeemed or for the payment or redemption of which payment is to be made. Following any such waiver, the interest on any such obligations shall be applied to the payment of interest, if any, on the Securities to be paid or redeemed or for the payment or redemption of which provision is to be made, as specified in the aforesaid Company Order, as and when such interest shall become due from time to time, and any excess funds remaining from time to time after such application shall be applied to the payment of interest on any other Securities as and when the same shall become due. Pending any such application, the interest on such obligations shall be invested in Investment Securities. The principal of any such obligations shall be applied solely to the payment of principal of the Securities to be paid or redeemed or for the payment or redemption of which provision is to be made, as specified in the aforesaid Company Order. Pending such application, the principal of such obligations shall be invested in Eligible Obligations. The obligation of the Company to pay the principal of such Securities when the same shall become due at maturity, shall be offset and reduced by the amount of the proceeds of such obligations then held, and to be applied, by the Trustee pursuant to the provisions of in accordance with this Section shall forthwith be canceled by the Trusteeparagraph.