Common use of Payment on Acceleration Clause in Contracts

Payment on Acceleration. If the Purchaser declares the unpaid principal of and accrued interest on the Bond to be immediately due and payable pursuant to Section 802, the Depositary will promptly pay all moneys then held for the credit of the Acquisition Account to the Purchaser for application to the unpaid principal of and accrued interest on the Bond.

Payment on Acceleration. If the Purchaser declares the unpaid principal of and accrued interest on the Bond to be immediately due and payable pursuant to Section 8028.02, the Depositary Depositary, to the extent permitted by law, will promptly pay all moneys monies then held for the credit of the Acquisition Account to the Purchaser for application to the unpaid principal of and accrued interest on the Bond.

Payment on Acceleration. If the Purchaser declares the unpaid principal of and accrued interest on the Bond Bonds to be immediately due and payable pursuant to Section 802, the Depositary Depositary, to the extent permitted by law, will promptly pay promptly, upon receipt of written notice of such declaration from an Authorized Purchaser Representative, return all moneys then held for the credit of the Acquisition Account in accordance with Section 601 to the Purchaser for application to the unpaid principal of and accrued interest on the BondBonds.

Payment on Acceleration. If the Purchaser declares the unpaid principal of and accrued interest on the Bond Bonds to be immediately due and payable pursuant to Section 8028.02, the Depositary Depositary, to the extent permitted by law, will promptly pay all moneys monies then held for the credit of the Acquisition Account to the Series 2018 Purchaser for application to the unpaid principal of and accrued interest on the BondSeries 2018 Bonds.

Payment on Acceleration. If the Purchaser declares the unpaid principal of and accrued interest on the Bond Bonds to be immediately due and payable pursuant to Section 8028.02, the Depositary Depositary, to the extent permitted by law, will promptly pay all moneys monies then held for the credit of the Acquisition Account to the Purchaser for application to the unpaid principal of and accrued interest on the BondBonds.