Common use of Release from Covenants Clause in Contracts

Release from Covenants. Upon proof being given to the reasonable satisfaction of the Trustee that (i) the principal of all the Bonds and interest thereon and other moneys payable hereunder have been paid or satisfied, or (ii) all the Bonds have matured or have been called for redemption, or upon the Trustee having been given irrevocable instructions by the Corporation to give notice of redemption of all the Bonds, and (iii) such payment or redemption, or both, has been duly and effectually provided for by payment to the Trustee or otherwise, and (iv) upon payment of all costs, charges and expenses properly incurred by the Trustee in relation and the remuneration of the Trustee has been paid, or upon provision satisfactory to the Trustee being made for such payment, the Trustee shall, at the request and at the expense of the Corporation, execute and deliver to the Corporation such deeds or other instruments as shall be required to (v) evidence the satisfaction and discharge of the Security in accordance with Section 4.11, and (vi) release the Corporation from its covenants except pursuant to Section 2.8 and those relating to the indemnification of the Trustee.

Release from Covenants. Upon proof being given to the reasonable satisfaction of the Trustee that (i) the principal of all the Bonds Debentures and interest (including interest on amounts in default) thereon and other moneys payable hereunder have been paid or satisfiedsatisfied or that, or (ii) all the Bonds have Debentures having matured or have having been duly called for redemption, or upon the Trustee having been given irrevocable instructions by the Corporation to give publish within 90 days notice of redemption of all the BondsDebentures, and (iii) such payment or redemption, or both, and/or redemption has been duly and effectually provided for by payment to the Trustee or otherwise, and (iv) upon payment of all costs, charges and expenses properly incurred by the Trustee in relation to these presents and all interest thereon and the remuneration of the Trustee has been paidTrustee, or upon provision satisfactory to the Trustee being made for such paymenttherefor, the Trustee shall, at the request and at the expense of the Corporation, execute and deliver to the Corporation such deeds or other instruments as shall be required requisite to (v) evidence the satisfaction and discharge of the Security in accordance with Section 4.11, and (vi) release the Corporation from its covenants herein contained except pursuant to Section 2.8 and those relating to the indemnification of the Trustee.