Common use of Payment and Discharge of Refunded 1992 Series A Bonds Clause in Contracts

Payment and Discharge of Refunded 1992 Series A Bonds. Company covenants and agrees with Issuer that it will, upon the date of issuance of the 2002 Series A Bonds, give irrevocable instructions to the Prior Trustee to call and redeem the Refunded 1992 Series A Bonds in accordance with their terms and will simultaneously deposit into the Prior Bond Fund cash or direct United States obligations (“Governmental Obligations”) sufficient on the date of issuance of the 2002 Series A Bonds, to fully defease and discharge the Refunded 1992 Series A Bonds on such date in accordance with Article VIII of the 1992 Series A Indenture, without reference to any interest earnings to be accrued during the period from the date of issuance of the 2002 Series A Bonds to the redemption date of the Refunded 1992 Series A Bonds. Such matters shall be confirmed by issuance of an appropriate written certificate of the Prior Trustee confirming defeasance and full discharge of the Refunded 1992 Series A Bonds upon the date of issuance of the 2002 Series A Bonds. Such irrevocable instructions, deposit of sufficient cash and Governmental Obligations and issuance by the Prior Trustee of a certificate of defeasance and discharge is a condition precedent to the issuance of the 2002 Series A Bonds.

Payment and Discharge of Refunded 1992 Series A Bonds. Company covenants and agrees with Issuer that it will, upon the date of issuance of the 2002 2007 Series A Bonds, give irrevocable instructions to the Prior Trustee to call and redeem the Refunded 1992 Series A Bonds in accordance with their terms and will simultaneously deposit into the Prior Bond Fund cash or direct United States obligations (“Governmental Obligations”) sufficient on the date of issuance of the 2002 2007 Series A Bonds, to fully defease and discharge the Refunded 1992 Series A Bonds on such date in accordance with Article ARTICLE VIII of the 1992 Series A Indenture, without reference to any interest earnings to be accrued during the period from the date of issuance of the 2002 2007 Series A Bonds to the redemption date of the Refunded 1992 Series A Bonds. Such matters shall be confirmed by issuance of an appropriate written certificate of the Prior Trustee confirming defeasance and full discharge of the Refunded 1992 Series A Bonds upon the date of issuance of the 2002 2007 Series A Bonds. Such irrevocable instructions, deposit of sufficient cash and Governmental Obligations and issuance by the Prior Trustee of a certificate of defeasance and discharge is a condition precedent to the issuance of the 2002 2007 Series A Bonds.

Payment and Discharge of Refunded 1992 Series A Bonds. Company covenants and agrees with Issuer that it willthe Issuer, upon the date of issuance of the 2002 2007 Series A Bonds, give it gave irrevocable instructions to the Prior Trustee to call and redeem the Refunded 1992 Series A Bonds in accordance with their terms and will simultaneously deposit deposited into the Prior Bond Fund cash or direct United States obligations (“Governmental Obligations”) sufficient on the date of issuance of the 2002 2007 Series A Bonds, to fully defease and discharge the Refunded 1992 Series A Bonds on such date in accordance with Article ARTICLE VIII of the 1992 Series A Indenture, without reference to any interest earnings to be accrued during the period from the date of issuance of the 2002 2007 Series A Bonds to the redemption date of the Refunded 1992 Series A Bonds. Such matters shall be were confirmed by issuance of an appropriate written certificate of the Prior Trustee confirming defeasance and full discharge of the Refunded 1992 Series A Bonds upon the date of issuance of the 2002 2007 Series A Bonds. Such irrevocable instructions, deposit of sufficient cash and Governmental Obligations and issuance by the Prior Trustee of a certificate of defeasance and discharge is were a condition precedent to the issuance of the 2002 2007 Series A Bonds.

Payment and Discharge of Refunded 1992 Series A Bonds. Company covenants and agrees with Issuer that it will, upon the date of issuance of the 2002 Series A C Bonds, give irrevocable instructions to the Prior Trustee to call and redeem the Refunded 1992 Series A Bonds in accordance with their terms and will simultaneously deposit into the Prior Bond Fund cash or direct United States obligations (“Governmental Obligations”) sufficient on the date of issuance of the 2002 Series A C Bonds, to fully defease and discharge the Refunded 1992 Series A Bonds on such date in accordance with Article VIII of the 1992 Series A Indenture, without reference to any interest earnings to be accrued during the period from the date of issuance of the 2002 Series A C Bonds to the redemption date of the Refunded 1992 Series A Bonds. Such matters shall be confirmed by issuance of an appropriate written certificate of the Prior Trustee confirming defeasance and full discharge of the Refunded 1992 Series A Bonds upon the date of issuance of the 2002 Series A C Bonds. Such irrevocable instructions, deposit of sufficient cash and Governmental Obligations and issuance by the Prior Trustee of a certificate of defeasance and discharge is a condition precedent to the issuance of the 2002 Series A C Bonds.