Common use of Closing of Purchase Clause in Contracts

Closing of Purchase. On the Closing Date the Issuer shall deliver to the Company its special warranty deed and/or other appropriate instrument or instruments of conveyance or assignment, properly executed and conveying the Project to the Company free and clear of all liens and encumbrances except as set forth in the preceding section above, or conveying such other title to the Project provided as follows: (a) the amount specified in clause (i) of Section 17.2 shall be paid to the Trustee for deposit in the Principal and Interest Payment Account to be used to pay or redeem Bonds and the interest thereon as provided in the Indenture, and (b) the amount specified in clause (ii) of said Section 17.2 shall be paid to the Issuer; provided, however, nothing herein shall require the Issuer to deliver its appropriate instrument or instruments of assignment or conveyance to the Company until after all duties and obligations of the Company under this Lease to the date of such delivery have been fully performed and satisfied. Upon the delivery to the Company of the Issuer’s appropriate instrument or instruments of assignment or conveyance and payment of the purchase price by the Company, this Lease shall ipso facto terminate, subject to the provisions of Section 20.2 hereof. Consistent with the provisions of Section 3.02 of the Indenture, Issuer and the Company acknowledge that the Company may submit the Bonds to Trustee for cancellation and receive a credit in respect to the principal amount thereof.

Closing of Purchase. On the Closing Date the Issuer shall deliver to the Company its special warranty deed and/or other appropriate instrument or instruments of conveyance assignment or assignmentrelease, properly executed and conveying releasing the Issuer’s leasehold interest in the Project to the Company free and clear of all liens and encumbrances except as set forth in the preceding section above, or conveying such other title to the Project Section above provided as follows: (a) the amount specified in clause (i) of Section 17.2 shall be paid to the Trustee for deposit in the Principal and Interest Payment Account to be used to pay or redeem Bonds and the interest thereon as provided in the Indenture, and (b) the amount specified in clause (ii) of said Section 17.2 shall be paid to the Issuer; provided, however, nothing herein shall require the Issuer to deliver its appropriate instrument or instruments of assignment or conveyance release to the Company until after all duties and obligations of the Company under this Lease to the date of such delivery have been fully performed and satisfied. Upon the delivery to the Company of the Issuer’s appropriate instrument or instruments of assignment or conveyance release and payment of the purchase price by the Company, this Lease shall ipso facto terminate, subject to the provisions of Section 20.2 hereof. Consistent with the provisions of Section 3.02 302 of the Indenture, the Issuer and the Company acknowledge that the Company may submit the Bonds to the Trustee for cancellation and receive a credit in respect to the principal amount thereof.

Closing of Purchase. On the Closing Date the Issuer shall deliver to the Company its special warranty deed and/or other the appropriate instrument or instruments of conveyance or assignmentrelease, properly executed and conveying releasing the Issuer’s leasehold interest in the Project to the Company free and clear of all liens and encumbrances except as set forth in the preceding section Section above, or conveying such other title to the Project provided as follows: (a) the amount specified in clause (i) of Section 17.2 shall be paid to the Trustee for deposit in the Principal and Interest Payment Account to be used to pay or redeem Bonds and the interest thereon as provided in the Indenture, and (b) the amount specified in clause (ii) of said Section 17.2 shall be paid to the Issuer; provided, however, nothing herein shall require the Issuer to deliver its appropriate instrument or instruments of assignment or conveyance release to the Company until after all duties and obligations of the Company under this Lease to the date of such delivery have been fully performed and satisfied. Upon the delivery to the Company of the Issuer’s appropriate instrument or instruments of assignment or conveyance release and payment of the purchase price by the Company, this Lease shall ipso facto terminate, subject to the provisions of Section 20.2 hereof. Consistent with the provisions of Section 3.02 of the Indenture, the Issuer and the Company acknowledge that the Company may submit the Bonds to the Trustee for cancellation and receive a credit in respect to the principal amount thereof.

Closing of Purchase. On the Closing Date the Issuer shall deliver to the Company Tenant its special warranty deed and/or other appropriate instrument or instruments of conveyance or assignment, properly executed and conveying the Project to the Company Tenant free and clear of all liens and encumbrances except as set forth in the preceding section above, or conveying such other title to the Project provided as follows: (a) the amount specified in clause (i) of Section 17.2 17.02 shall be paid to the Trustee for deposit in the Principal and Interest Payment Account to be used to pay or redeem Bonds and the interest thereon as provided in the Indenture, and (b) the amount specified in clause (ii) of said Section 17.2 17.02 shall be paid to the Issuer; provided, however, nothing herein shall require the Issuer to deliver its appropriate instrument or instruments of assignment or conveyance to the Company Tenant until after all duties and obligations of the Company Tenant under this Lease to the date of such delivery have been fully performed and satisfied. Upon the delivery to the Company Tenant of the Issuer’s appropriate instrument or instruments of assignment or conveyance and payment of the purchase price by the CompanyTenant, this Lease shall ipso facto terminate, subject to the provisions of Section 20.2 20.02 hereof. Consistent with the provisions of Section 3.02 of the Indenture, Issuer and the Company acknowledge that the Company may submit the Bonds to Trustee for cancellation and receive a credit in respect to the principal amount thereof.