Common use of Satisfaction and Discharge of this Indenture Clause in Contracts

Satisfaction and Discharge of this Indenture. (a) When the principal of and interest on all the Bonds have been paid in accordance with their terms or provision has been made for such payment, as provided in Section 1302, and provision also made for paying all other sums payable hereunder and under the Lease and the Development and Performance Agreement, including the reasonable fees and expenses of the Trustee, the City and Paying Agent to the date of retirement of the Bonds, then the right, title and interest of the Trustee in respect hereof shall thereupon cease, determine and be void. Thereupon, the Trustee shall cancel, discharge and release this Indenture and shall upon the written request of the City or the Developer execute, acknowledge and deliver to the City such instruments of satisfaction and discharge or release as shall be required to evidence such release and the satisfaction and discharge of this Indenture, and shall assign and deliver to the City (subject to the City’s obligations under Section 11.2 of the Lease) any property at the time subject to this Indenture which may then be in its possession, except amounts in the Bond Fund required to be paid to the Developer under Section 602 and except funds or securities in which such funds are invested held by the Trustee for the payment of the principal of and interest on the Bonds. (b) The City is hereby authorized to accept a certificate by the Trustee that the whole amount of the principal and interest, if any, so due and payable upon all of the Bonds then-Outstanding has been paid or such payment provided for in accordance with Section 1302 as evidence of satisfaction of this Indenture, and upon receipt thereof shall cancel and erase the inscription of this Indenture from its records.

Satisfaction and Discharge of this Indenture. (a) When the principal of and interest on all the Bonds shall have been paid in accordance with their terms or provision has been made for such payment, as provided in Section 1302SECTION 1302 hereof, and provision shall also be made for paying all other sums payable hereunder and under the Lease and the Development and Performance Agreementhereunder, including the reasonable fees and expenses of the Trustee, the City and Paying Agent to the date of retirement of the Bonds, then the right, title and interest of the Trustee in respect hereof shall thereupon cease, determine and be void. Thereupon, and thereupon the Trustee shall cancel, discharge and release this Indenture and shall upon the written request of the City or the Developer execute, acknowledge and deliver to the City such instruments of satisfaction and discharge or release as shall be required requisite to evidence such release and the satisfaction and discharge of this Indenture, and shall assign and deliver to the City (subject to the City’s obligations under Section 11.2 of the Lease) any property at the time subject to this Indenture which may then be in its possession, except amounts in the Bond Fund required to be paid to the Developer Corporation under Section 602 SECTION 606 hereof and except funds or securities in which such funds are invested held by the Trustee for the payment of the principal of and interest on the Bonds. (b) The City is hereby authorized to accept a certificate by the Trustee that the whole amount of the principal and interest, if any, so due and payable upon all of the Bonds then-or coupons then Outstanding has been paid or such payment provided for in accordance with Section SECTION 1302 hereof as evidence of satisfaction of this Indenture, and upon receipt thereof shall cancel and erase the inscription of this Indenture from its records.

Satisfaction and Discharge of this Indenture. (a) When the principal of of, premium, if any, and interest on all the Bonds shall have been paid in accordance with their terms or provision has been made for such payment, as provided in Section 130213.02 hereof, and provision shall also have been made for paying all other sums payable hereunder and under the Lease and the Development and Performance Agreementhereunder, including the reasonable fees and expenses of the Trustee, Trustee and the City and Paying Agent Agents to the date of retirement of the Bonds, then the right, title and interest duties of the Trustee in respect hereof under this Indenture shall thereupon cease, determine and be void. Thereupon, Thereupon the Trustee shall cancel, discharge and release this Indenture and shall upon the written request of the City or the Developer execute, acknowledge and deliver to the City Issuer such instruments of satisfaction and discharge or release as shall be required requisite to evidence such release and the satisfaction and discharge of this Indenture, and shall assign and deliver to the City (subject to the City’s obligations under Section 11.2 of the Lease) Issuer any property at the time subject to this Indenture which may then be in its possession, except amounts in the Bond Fund Principal and Interest Payment Account required to be paid to the Developer Company under Section 602 6.03 hereof and except funds or securities in which such funds are invested and held by the Trustee for the payment of the principal of of, premium, if any, and interest on the Bonds. (b) The City Issuer is hereby authorized to accept a certificate by the Trustee that the whole amount of the principal and interestof, premium, if any, so and interest due and payable upon all of the Bonds then-then Outstanding has been paid or such payment provided for in accordance with Section 1302 13.02 hereof as evidence of satisfaction of this Indenture, and upon receipt thereof shall cancel and erase the inscription of deem this Indenture from its recordsdischarged.