Common use of Deposit of Money or Securities with Trustee Clause in Contracts

Deposit of Money or Securities with Trustee. During the Fixed Rate Period, whenever in this Indenture it is provided or permitted that there be deposited with or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held shall be cash or Government Obligations, which Government Obligations shall be noncallable and not subject to prepayment, the principal of and interest on which when due will provide money sufficient to pay the principal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, on the Bonds to be paid or redeemed, as such principal, premium, if any, and interest become due, provided that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided, in each case, that the Trustee shall have been irrevocably instructed (by Request of the Authority) to apply such money to the payment of such principal and interest with respect to such Bonds. Whenever Government Obligations are deposited with the Trustee in accordance with Section 11.03 hereof, the Company shall provide to the Trustee and the Rating Agency: (i) a verification report from an independent public accountant, satisfactory in form and content to the Trustee, demonstrating that the Government Obligations so deposited and the income therefore shall be sufficient to pay the principal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, on the Bonds to be paid or redeemed, as such principal or premium, if any, and interest become due; and (ii) an opinion acceptable to the Rating Agency, of nationally recognized bankruptcy counsel, to the effect that the provision for payment of the Bonds contemplated to be made pursuant to this Section 11.03 will not constitute or result in such payments constituting voidable preferences under Section 547 of the Bankruptcy Code.

Deposit of Money or Securities with Trustee. During the Fixed Rate Period, whenever in this Indenture it is provided or permitted that there be deposited with or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held shall be cash or Government ObligationsInvestment Securities described in clauses (i) or (ii) of the definition thereof in Section 1.01 hereof, which Government Obligations Investment Securities shall be noncallable and not subject to prepayment, the principal of and interest on which when due will provide money sufficient to pay the principal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, on the Bonds to be paid or redeemed, as such principal, premium, if any, and interest become due, provided that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice; , provided, in each case, that the Trustee shall have been irrevocably instructed (by Request request of the AuthorityCompany) to apply such money to the payment of such principal and interest with respect to such Bonds. Whenever Government Obligations Investment Securities are deposited with the Trustee in accordance with this Section 11.03 hereof11.03, the Company shall provide to the Trustee and the Rating Agency: Agency (ia) a verification report from an independent public accountantAccountant, satisfactory in form and content to the Trustee, demonstrating that the Government Obligations Investment Securities so deposited and the income therefore thereon shall be sufficient to pay the principal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, on the Bonds to be paid or redeemed, as such principal or principal, premium, if any, and interest become due; due and (iib) an opinion acceptable to the Rating Agency, of nationally recognized bankruptcy counsel, to the effect that the provision for payment of the Bonds contemplated to be made pursuant to this Section 11.03 will not constitute or result in such payments constituting voidable preferences under Section 547 of the Bankruptcy Code.

Deposit of Money or Securities with Trustee. During the Fixed Rate Period, whenever Whenever in this Indenture it is provided or permitted that there be deposited with or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held shall be cash or Government Obligations, which Government Obligations shall be noncallable and not subject to prepayment, the principal of and interest on which when due will provide money sufficient to pay the principal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, on the Bonds to be paid or redeemed, as such principal, premium, if any, and interest become due, provided that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided, in each case, that the Trustee Truste shall have been irrevocably instructed (by Request request of the AuthorityCompany) to apply such money to the payment of such principal principal, premium and interest with respect to such Bonds. Whenever Government Obligations are deposited with the Trustee in accordance with Section 11.03 hereof, the Company shall provide to the Trustee and the Rating Agency: Agency (i) a verification report from an independent public accountantAccountant, satisfactory in form and content to the Trustee, demonstrating that the Government Obligations so deposited and the income therefore therefor shall be sufficient to pay the principal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, on the Bonds to be paid or redeemed, as such principal or principal, premium, if any, and interest become due; due and (ii) an opinion acceptable to the Rating AgencyAgency and the Trustee, and addressed to the Trustee, of nationally recognized bankruptcy counsel, to the effect that the provision for payment of the Bonds contemplated to be made pursuant to this Section 11.03 will not constitute or result in such payments payments' constituting voidable preferences under Section 547 of the Bankruptcy Code.

Deposit of Money or Securities with Trustee. During the Fixed Rate Period, whenever in this Indenture it is provided or permitted that there be deposited with or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held shall be cash or Government ObligationsInvestment Securities described in clauses (i) or (ii) of the definition thereof in Section 1.01 hereof, which Government Obligations Investment Securities shall be noncallable and not subject to prepayment, the principal of and interest on which when due will provide money sufficient to pay the principal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, on the Bonds to be paid or redeemed, as such principal, premium, if any, and interest become due, provided that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided, in each case, that the Trustee shall have been irrevocably instructed (by Request request of the Authority) to apply such money to the payment of such principal and interest with respect to such Bonds. Whenever Government Obligations Investment Securities are deposited with the Trustee in accordance with Section 11.03 11.03(b) hereof, the Company shall provide to the Trustee and the Rating Agency: Agency (i) a verification report from an independent public accountant, satisfactory in form and content to the Trustee, demonstrating that the Government Obligations Investment Securities so deposited and the income therefore therefrom shall be sufficient to pay the principal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, on the Bonds to be paid or redeemed, as such principal or principal, premium, if any, and interest become due; , and (ii) an opinion acceptable to the Rating Agency, of nationally recognized bankruptcy counsel, to the effect that the provision for payment of the Bonds contemplated to be made pursuant to this Section 11.03 will not constitute or result in such payments constituting voidable preferences under Section 547 of the Bankruptcy Code.

Deposit of Money or Securities with Trustee. During the Fixed Rate Period, whenever Whenever in this Indenture it is provided or permitted that there be deposited with or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held shall be cash or Government ObligationsInvestment securities described in clauses (i) or (ii) of the definition thereof in Section 1.01 hereof, which Government Obligations Investment Securities shall be noncallable and not subject to prepayment, the principal of and interest on which when due will provide money sufficient to pay the principal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, on the Bonds to be paid or redeemed, as such principal, premium, if any, and interest become due, provided that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided, in each case, that the Trustee shall have been irrevocably instructed (by Request request of the Authority) to apply such money to the payment of such principal and interest with respect to such Bonds. Whenever Government Obligations Investment securities are deposited with the Trustee in accordance with this Section 11.03 hereof11.03, the Company Borrower shall provide to the Trustee and the Rating Agency: , if any, (i) a verification report from an independent public accountant, satisfactory in form and content to the Trustee, demonstrating that the Government Obligations Investment Securities so deposited and the income therefore therefrom shall be sufficient to pay the principal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, on the Bonds to be paid or redeemed, as such principal or principal, premium, if any, and interest become due; due and (ii) an opinion acceptable to the Rating Agency, if any, of nationally recognized bankruptcy counsel, to the effect that the provision for payment of the Bonds contemplated to be made pursuant to this Section 11.03 will not constitute or result in such payments constituting voidable preferences under Section 547 of the Bankruptcy Code.

Deposit of Money or Securities with Trustee. During the Fixed Rate Period, whenever in this Indenture it is provided or permitted that there be deposited with or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held shall be cash or Government Obligations, which Government Obligations shall be noncallable and not subject to prepayment, the principal of and interest on which when due will provide money sufficient to pay the principal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, on the Bonds to be paid or redeemed, as such principal, premium, if any, and interest become due, provided that, in the case of Bonds which are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article IV or provision satisfactory to the Trustee shall have been made for the giving of such notice; provided, in each case, that the Trustee shall have been irrevocably instructed (by Request of the AuthorityBoard) to apply such money to the payment of such principal and interest with respect to such Bonds. Whenever Government Obligations are deposited with the Trustee in accordance with Section 11.03 hereof, the Company shall provide to the Trustee and the Rating Agency: (i) a verification report from an independent public accountant, satisfactory in form and content to the Trustee, demonstrating that the Government Obligations so deposited and the income therefore shall be sufficient to pay the principal of, premium, if any, and all unpaid interest to maturity, or to the redemption date, as the case may be, on the Bonds to be paid or redeemed, as such principal or premium, if any, and interest become due; and (ii) an opinion acceptable to the Rating Agency, of nationally recognized bankruptcy counsel, to the effect that the provision for payment of the Bonds contemplated to be made pursuant to this Section 11.03 will not constitute or result in such payments constituting voidable preferences under Section 547 of the Bankruptcy Code.