Common use of Satisfaction and Discharge of Agreement Clause in Contracts

Satisfaction and Discharge of Agreement. If at any time (a) the Issuer shall pay and discharge the entire indebtedness on all Notes hereunder by paying or causing to be paid as provided in Article 4 the principal of, and any applicable Make-Whole Amount, Yield Protection Amount and Breakage Amount and interest on, all Notes hereunder, as and when the same become due and payable or (b) all such Notes shall have been repurchased by the Issuer or an Affiliate of the Issuer and canceled as herein provided (other than any Notes which shall have been destroyed, lost or stolen and which shall have been replaced as provided in Section 2.9); and if the Issuer shall also pay or cause to be paid all other sums payable hereunder by the Issuer (including, without limitation, fees and expenses of the Trustees), and the Issuer shall fully and faithfully discharge, and cause to be faithfully discharged, every other obligation herein and in each of the other Credit Documents contained, then and in that case this Indenture shall cease, determine, and become null and void, and thereupon each Trustee shall, upon Written Request of the Issuer or any other party to the Credit Documents forthwith execute proper instruments acknowledging satisfaction of and discharging this Indenture and releasing all Liens held by it pursuant to the terms hereof and any other Credit Document, including the First Naval Mortgage; provided, however, that in no event shall the trusts created by this Indenture continue beyond the expiration of twenty-one (21) years after the death of the last to die of all descendants living on the date of execution of this Indenture of Jose▇▇ ▇. ▇▇▇▇▇▇▇, ▇▇te father of the late President of the United States, John ▇.

Satisfaction and Discharge of Agreement. If at any time (a) the Issuer shall pay and discharge the entire indebtedness on all Notes hereunder by paying or causing to be paid as provided in Article Articles 4 and 5 the principal of, and any applicable Make-Whole Amount, Yield Protection Amount and Breakage Amount of and interest on, on all Notes issued hereunder, as and when the same become due and payable or (b) all such Owners' interests in the Notes shall have been repurchased by the Issuer or an Affiliate of the Issuer and the Notes canceled as herein provided (other than any Notes which shall have been destroyed, lost or stolen and which shall have been replaced as provided in Section 2.9)provided; and if the Issuer shall also pay or cause to be paid all other sums payable hereunder by the Issuer (including, without limitation, fees and expenses of the TrusteesTrustee), and the Issuer shall fully and faithfully discharge, and cause to be faithfully discharged, every other obligation herein and in each of the other Credit Security Documents (including, without limitation, the Parent Guaranty) contained, then and in that case this Indenture shall cease, determine, and become null and void, and thereupon each the Trustee shall, upon Written Request of the Issuer or any other party to the Credit Documents forthwith execute or cause to be executed proper instruments acknowledging satisfaction of and discharging this Indenture and releasing all Liens held by it pursuant to the terms hereof and any other Credit Security Document, including the First Naval Mortgage; provided, however, that in no event shall the trusts created by this Indenture continue beyond the expiration of twenty-one (21) years after the death of the last to die of all descendants living on the date of execution . The satisfaction and discharge of this Indenture of Jose▇▇ ▇. ▇▇▇▇▇▇▇, ▇▇te father shall be without prejudice to the rights of the late President of Trustee under Section 10.2 to charge and be reimbursed by the United States, John ▇Issuer for any expenditures which it may thereafter incur in connection herewith.

Satisfaction and Discharge of Agreement. If at any time (a) the Issuer shall pay and discharge the entire indebtedness on all Notes hereunder by paying or causing to be paid as provided in Article Articles 4 and 5 the principal of, and any applicable Make-Whole Amount, Breakage Amount, Yield Protection Amount and Breakage Special Yield Protection Amount and interest on, all Notes hereunder, as and when the same become due and payable or (b) all such Notes shall have been repurchased by the Issuer or an Affiliate of the Issuer and canceled as herein provided (other than any Notes which shall have been destroyed, lost or stolen and which shall have been replaced as provided in Section 2.9); and if the Issuer shall also pay or cause to be paid all other sums payable hereunder by the Issuer (including, without limitation, fees and expenses of the Trustees), and the Issuer shall fully and faithfully discharge, and cause to be faithfully discharged, every other obligation herein and in each of the other Credit Project Documents (including, without limitation, the Parent Indemnity) contained, then and in that case this Indenture shall cease, determine, and become null and void, and thereupon each Trustee shall, upon Written Request of the Issuer or any other party to the Credit Project Documents forthwith execute proper instruments acknowledging satisfaction of and discharging this Indenture and releasing all Liens held by it pursuant to the terms hereof and any other Credit Project Document, including the First Naval Preferred Ship Mortgage; provided, however, that in no event shall the trusts created by this Indenture continue beyond the expiration of twenty-one (21) years after the death of the last to die of all descendants living on the date of execution of this Indenture of JoseJoseph P. Kennedy, late father of the late President of the Unit▇▇ ▇. ▇▇▇▇▇▇▇, ▇▇te father of the late President of the United States, John ▇▇ ▇.