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1994-06-21 Minutes
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1994-06-21 Minutes
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Authority in respect of such Bonds shall continue provided that the <br />• owners thereof shall thereafter be entitled to payment only out of <br />the moneys or the Government Obligations deposited with the Trustee <br />as aforesaid and the lien of this Indenture to the extent that it <br />secures the interests of the Credit Facility Issuer shall continue <br />until all amounts due and owing or to be due and owing at any time <br />to the Credit Facility Issuer under the Credit Facility Agreement <br />have been paid in full to the satisfaction of the Credit Facility <br />Issuer and the Credit Facility shall have been returned to the <br />Credit Facility Issuer for cancellation. <br />Section 1203. Provision for Payment of a Portion of <br />Bonds. If the Authority shall pay or provide for the payment of <br />the entire indebtedness on any portion of the Bonds, in one or more <br />of the following ways: <br />(a) by paying or causing to be paid the principal of <br />(including premium, if any) and interest on such portion of the <br />Bonds as and when the same shall become due and payable; <br />(b) by depositing with the Trustee, in trust, at or <br />before Maturity, moneys in an amount sufficient to pay or redeem <br />(when redeemable) such portion of the Bonds (including the payment <br />of premium, if any, and interest payable on such portion of the <br />Bonds to the Maturity or redemption date thereof), provided that <br />such moneys, if invested, shall be invested in Government <br />Obligations which are not callable or subject to prepayment prior <br />to the date the moneys therefrom are anticipated to be required in <br />an amount, without consideration of any income or increment to <br />accrue thereon, sufficient to pay or redeem (when redeemable) and <br />discharge the indebtedness on such portion of the Bonds at or <br />before their respective Maturity dates; <br />(c) by delivering to the Trustee, for cancellation by <br />it, all Bonds outstanding or any such portion thereof; or <br />(d) by depositing with the Trustee, in trust, Government <br />Obligations which are not callable or subject to prepayment prior <br />to the date the moneys therefrom are anticipated to be required in <br />such amount as will, together with the income or increment to <br />accrue thereon, without consideration of any reinvestment thereof, <br />and with any uninvested cash, be fully sufficient to pay or redeem <br />(when redeemable) and discharge the indebtedness on all Bonds or <br />any such portion thereof at or before their respective Maturity <br />dates; <br />and if the Authority shall also pay or cause to be paid all other <br />sums payable hereunder by the Authority with respect to such <br />portion of the Bonds, and, if such portion of the Bonds are to be <br />redeemed prior to the Maturity thereof, notice of such redemption <br />shall have been given as in Article V of this Indenture provided <br />or provisions satisfactory to the Trustee shall have been made for <br />• 104 <br />
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