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ARTICLE XI <br />DEFEASANCE <br />SECTION 11.01. Discharge of Bonds. <br />(a) If the Authority shall pay or cause to be paid to the Owners of all <br />Outstanding Bonds the interest thereon and the principal thereof and the redemption premiums, if <br />any, thereon at the times and in the manner stipulated herein and therein, then the Owners of <br />such Bonds shall cease to be entitled to the pledge of the Revenues as provided herein, and all <br />agreements, covenants and other obligations of the Authority to the Owners of such Bonds <br />hereunder shall thereupon cease, terminate and become void and be discharged and satisfied. In <br />such event, the Trustee shall execute and deliver to the Authority all such instruments as may be <br />necessary or desirable to evidence such discharge and satisfaction, and the Trustee shall pay over <br />or deliver to the Authority all moneys held by it pursuant hereto which are not required for the <br />payment of the interest on and principal of and redemption premiums, if any, on such Bonds. <br />Subject to the provisions of the above paragraph, when any of the Bonds shall <br />have been paid and if, at the time of such payment, the Authority shall have kept, performed and <br />observed all the covenants and promises in such Bonds and in this Indenture required or <br />contemplated to be kept, performed and observed by the Authority or on its part on or prior to <br />that time, then this Indenture shall be considered to have been discharged in respect of such <br />Bonds and such Bonds shall cease to be entitled to the lien of this Indenture and such lien and all <br />covenants, agreements and other obligations of the Authority hereunder shall cease, terminate <br />become void and be completely discharged as to such Bonds. <br />Notwithstanding the satisfaction and discharge of this Indenture or the discharge <br />of this Indenture in respect of any Bonds, those provisions of this Indenture relating to the <br />maturity of the Bonds, interest payments and dates thereof, tender and exchange provisions, <br />exchange and transfer of Bonds, replacement of mutilated, destroyed, lost or stolen Bonds, the <br />safekeeping and cancellation of Bonds, nonpresentment of Bonds, and the duties of the Trustee <br />in connection with all of the foregoing, remain in effect and shall be binding upon the Trustee <br />and the Owners of the Bonds and the Trustee shall continue to be obligated to hold in trust any <br />moneys or investments then held by the Trustee for the payment of the principal of, redemption <br />premium, if any, and interest on the Bonds, to pay to the Owners of Bonds the funds so held by <br />the Trustee as and when such payment becomes due. Notwithstanding the satisfaction and <br />discharge of this Indenture or the discharge of this Indenture in respect of any Bonds, those <br />provisions of this Indenture contained in Section 8.04 relating to the compensation of the Trustee <br />shall remain in effect and shall be binding upon the Trustee and the Authority. <br />(b) Any Outstanding Bonds shall prior to the maturity date or redemption date <br />thereof be deemed to have been paid within the meaning of and with the effect expressed in <br />subsection (a) or this Section if (1) in case any of such Bonds are to be redeemed on any date <br />prior to their maturity date, the Authority shall have given to the Trustee in form satisfactory to it <br />irrevocable instructions to mail notice of redemption of such Bonds on said redemption date, said <br />notice to be given in accordance with Section 3.02 hereof, (2) there shall have been deposited <br />with the Trustee either (A) money in an amount which shall be sufficient or (B) Defeasance <br />55394.00011 \8754149.4 <br />80A41110 <br />