Optional Prepayments upon Condemnation of Facilities. After the Conversion Date, in the event that title to or the temporary use of the Facilities, or any part thereof, shall be taken under the exercise of the power of eminent domain by any governmental body or by any person, firm or corporation acting under governmental authority, any Net Proceeds received from any award made in any such eminent domain proceedings may, at the option of the Company (which option must be exercised within ninety (90) days of the date of entry of a fianl order in any eminent domain proceedings granting condemnation), be paid to the Trustee in prepayment of unpaid amounts of the loan made by the Issuer pursuant to Section 4.1 and shall be applied by the Trustee as shall be directed in writing by the Authorized Company Representative (i) to the redemption of all of the Bonds or purchase of Bonds in the open market for the purpose of cancellation pursuant to the Indenture upon exercise of the prepayment option set forth in Section 4.3(d) below, or (ii) to the redemption of less than all of the Bonds pursuant to the Indenture or payment into the Bond Fund; provided that, in the case of (ii), the Company shall furnish the Issuer and the Trustee (x) a certificate of an Independent Engineer selected by the Company stating (A) that the property forming a part of the Facilities that was taken by such condemnation was not essential to the character of the Facilities as industrial facilities, or (B) that the Facilities have been restored to a condition substantially equivalent to their condition as industrial facilities prior to the taking by such condemnation proceedings, with such changes, alterations and modifications (including the substitution and addition of other property) as may be desired by the Company and as will not materially impair the character of the Facilities as industrial facilities, or (C) that improvements have been acquired which are suitable for the operation of the Facilities as industrial facilities, and (y) an opinion of Independent Tax Counsel or a ruling of the Internal Revenue Service to the effect that such application of the Net Proceeds will not jeopardize the exemption of interest on the Bonds from Federal income taxation.
Optional Prepayments upon Condemnation of Facilities. After the Conversion Date, in the event that title to or the temporary use of the Facilities, or any part thereof, shall be taken under the exercise of the power of eminent domain by any governmental body or by any person, firm or corporation acting under governmental authority, any Net Proceeds received from any award made in any such eminent domain proceedings may, at the option of the Company (which option must be exercised within ninety (90) days of the date of entry of a final order in any eminent domain proceedings granting condemnation), be paid to the Trustee in prepayment of unpaid amounts of the loan made by the Issuer pursuant to Section 4.1 and shall be applied by the Trustee as shall be directed in writing by the Authorized Company Representative (i) to the redemption of all of the Bonds or purchase of Bonds in the open market for the purpose of cancellation pursuant to the Indenture upon exercise of the prepayment option set forth in Section 4.3(d) below, or (ii) to the redemption of less than all of the Bonds pursuant to the Indenture or payment into the Bond Fund; provided that, in, the case of (ii), the Company shall furnish the Issuer and the Trustee (x) a certificate of an Independent Engineer
