Common use of Collateral Bonds Clause in Contracts

Collateral Bonds. The obligation of the Company to make payments with respect to the principal of 2003-2 Collateral Bonds shall be fully or partially, as the case may be, satisfied and discharged to the extent that, at the time that any such payment shall be due, the then due principal of the Loans included in the Obligations shall have been fully or partially paid. Satisfaction of any obligation to the extent that payment is made with respect to the Loans means that if any payment is made on the principal of the Loans, a corresponding payment obligation with respect to the principal of the 2003-2 Collateral Bonds shall be deemed discharged in the same amount as the payment with respect to the Loans discharges the outstanding obligation with respect to such Loans. No such payment of principal shall reduce the principal amount of the 2003-2

Collateral Bonds. The obligation of the Company to make payments with respect to the principal of 20032011-2 4 Collateral Bonds shall be fully or partially, as the case may be, satisfied and discharged to the extent that, at the time that any such payment payments shall be due, the then due principal of the Loans included in the Obligations Liabilities shall have been fully or partially paid. Satisfaction of any obligation to the extent that payment is made with respect to the Loans Liabilities means that if any payment is made on the principal of the LoansLiabilities, a corresponding payment obligation with respect to the principal of the 20032011-2 4 Collateral Bonds shall be deemed discharged in the same amount as the payment with respect to the Loans Liabilities discharges the outstanding obligation with respect to such LoansLiabilities. No such payment of principal shall reduce the principal amount of the 20032011-24