Common use of Residual Certificate Clause in Contracts

Residual Certificate. Subject to the provisions of this Indenture, all amounts in the Residual Fund shall be paid to or on the order of the holder of the Residual Certificate free and clear of the lien of this Indenture. At delivery of the Initial Bonds, the Residual Certificate shall be delivered to, and registered on the books of the Corporation kept by the Trustee in the name of the City.

Residual Certificate. Subject to the provisions of this Indenture, all amounts in the Residual Fund and the accounts therein shall be paid to or on the order of the holder of the Residual Certificate as provided in this Indenture free and clear of the lien of this Indenture. At delivery of the Initial Bonds, the Residual Certificate shall be delivered to, and registered on the books of the Corporation kept by the Trustee in the name of the CityGovernment.