Release of Pledged Bonds Clause Samples

Release of Pledged Bonds. If the Company pays or causes to be paid in full its obligation under Section 2.10.5 for the reimbursement of the amount (or allocable portion thereof) drawn with a Tender Draft to fund the purchase of Pledged Bonds pursuant to the terms of the Indenture (or if the Trustee has received immediately available funds which, pursuant to the terms of the Indenture, the Trustee is required to pay over promptly to the Agent in an amount sufficient to pay the Company's reimbursement obligation under Section 2.10.5 hereof with respect to the amount drawn with such Tender Draft to fund the purchase of such Pledged Bonds), and provided no Event of Default has occurred and is continuing, the Agent will release from the pledge of this Second Restated Credit Agreement and will deliver, or cause its agent to deliver, such Pledged Bonds to such person or persons as the Company may direct. An amount equal to the principal of, plus accrued interest on, such Pledged Bonds shall be presumed (absent notice to the contrary) to be an "amount sufficient" for the purposes of this Section 6.3.3 and, upon receipt of such amount by the Trustee for payment to the Agent as aforesaid, the Trustee shall be automatically authorized to deliver such Pledged Bonds as aforesaid free from the pledge of this Agreement, unless the Trustee has received from the Agent written notice or telephonic notice (which shall thereafter be confirmed in writing) that such release shall not occur.

Release of Pledged Bonds. If the Company makes or causes to be ------------------------ made a payment to the Bank in respect of its reimbursement obligations under the Reimbursement Agreement with respect to the Pledged Bonds, the Bank agrees to release its security interest under this Pledge Agreement to the extent, in the manner and under the terms and conditions set forth below and to treat such payment in the manner set forth herein and to take all such other actions required to be taken by the Bank hereunder. Pledged Bonds shall be released hereunder and shall be delivered to the Company or on its order upon (i) payment in full to the Bank by the Company, or from the proceeds of remarketing of Pledged Bonds, of the amount of the drawing made by the Trustee with respect to such Pledged Bonds plus interest as provided in the Reimbursement Agreement to and through the date of such payment to the Bank, and (ii) receipt by the Bank thereafter of a notice directing the Bank to deliver to the Company or on its order, on the date specified in such notice, a principal amount of such Pledged Bonds equal to the principal portion of the amount so paid and setting forth the particular Pledged Bonds to be delivered. The Company shall (x) receive a credit against its obligations to pay interest pursuant to the Reimbursement Agreement to the extent of any amounts received by the Bank or its nominee as interest on any Pledged Bonds, and (y) receive a credit against its payment obligations under the Reimbursement Agreement to the extent of any amounts received by the Bank or its nominee as the principal due on any Pledged Bonds. The Trustee and the Bank shall not release any Pledged Bonds unless the Letter of Credit has terminated and any and all amounts due to the Bank have been paid in full or unless the Principal Component (as defined in the Letter of Credit) of the Stated Amount is reinstated in an amount equivalent to the sum of the outstanding principal amount of the Pledged Bonds to be released or sold, and the Interest Component (as defined in the Letter of Credit) of the Stated Amount is reinstated in an amount equal to 60-days' interest on such principal amount calculated at the Maximum Rate (as defined in the Letter of Credit) on the basis of a 365 or 366 day year, as applicable.

Release of Pledged Bonds. ▇▇▇▇▇▇ agrees to release from the Lien of this Agreement Pledged Bonds if and only if ▇▇▇▇▇▇ has given notice to the Trustee of the reinstatement of the Letter of Credit in an amount equal to the Original Purchase Price of the Pledged Bonds so released.

Release of Pledged Bonds. Neither the Bank nor the Participating Bank, as the case may be, shall release from the lien and security interest of this Agreement any Pledged Bonds that are being remarketed pursuant to Section 4.05 of the Indenture or that are to be delivered to the Trustee, unless the Bank or the Participating Bank, as the case may be, by wire transfer, has been or is being reimbursed in respect of the principal and, if applicable, interest amounts of the Liquidity Drawing related to the purchase of such Pledged Bonds in a manner which will permit the reinstatement of the Principal Component and Interest Component in respect of such Pledged Bonds in accordance with the terms of the Letter of Credit.

Release of Pledged Bonds. If the Pledgor makes or causes to be made to the Bank a prepayment in respect of its reimbursement obligation under Paragraph 2A(i) of the Letter of Credit Agreement pursuant to clause (i) of Paragraph 2B thereof or such a repayment is made on behalf of the Pledgor pursuant to clause (ii) of Paragraph 2B thereof, the Bank agrees to release from the lien of this Pledge Agreement and deliver to the Pledgor or the Tender Agent for resale in accordance with Section 3.09 of the Indenture, as the case may be, Pledged Bonds in a principal amount equal to the amount of the prepayment so made or to the principal amount of Pledged Bonds so purchased. Notwithstanding the foregoing, no prepayment of amounts owing to the Bank pursuant to Paragraph 2A(i) may be made, and no Pledged Bonds shall be released, during the period commencing two Business Days prior to an interest payment date with respect to the Bonds and ending at the close of business on such interest payment date,

Release of Pledged Bonds. Subject to and in accordance with the terms and conditions of Section 2.4 of the Reimbursement Agreement, the Pledgor shall have the right to effect releases of Pledged Bonds from the security interest created by this Agreement.

Release of Pledged Bonds. Upon reinstatement of the amount available under the Letter of Credit to be drawn as a Purchase Draft following payment by the Bank of a Purchase Draft under such Letter of Credit (which would occur following repayment to the Bank of all amounts owed by the Pledgor to the Bank in connection with payment by the Bank of such Purchase Draft or upon satisfaction of such other requirements as may be agreed to by Pledgor and the Bank), the Agent automatically shall release and deliver to the Pledgor or its designee Pledged Bonds (of the Bonds secured by such Letter of Credit) in a principal amount up to but not exceeding the amount by which the stated amount of the applicable Letter of Credit shall have been so increased; provided, however, that in any event, if all existing and future liabilities and obligations of Pledgor to the Bank under the Reimbursement Agreement are fully paid and fully secured, all Pledged Bonds shall be released and delivered to the Pledgor or its designee. The foregoing notwithstanding, all Pledged Bonds shall be released and delivered to the Trustee for cancellation at redemption or maturity.

Release of Pledged Bonds. While the Letter of Credit is in effect, the Pledgor hereby agrees that the Trustee shall not release any of the Pledged Bonds:

Release of Pledged Bonds. Lender agrees to release the Pledged Bonds from the lien of this Agreement and deliver the Pledged Bonds to the Remarketing Agent in accordance with Section 2.02 of the Reimbursement Agreement.