Agenda - Council - 04/27/2010 - Laserfiche WebLink

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any payment referred to in this subsection (1) is required to be made under this Indenture, the Trustee shall, without making any prior demand or claim upon the Company, make a drawing under and in accordance with the Letter of Credit so as to receive moneys thereunder on the Business Day immediately preceding the date any payment referred to in this Subsection (1) is required to be made under the Indenture, in an amount which will be sufficient for the payment in full of (i) accrued interest on the Bonds on any Interest Payment Date (ii) the principal of and accrued interest on the Bonds upon the Stated Maturity of the Bonds (other than Company Bonds), and (iii) the principal of and accrued interest on the Bonds upon the redemption of such Bonds pursuant to Section 3.1(1), (2) or (3) hereof. If the Bank shall fail to pay the amount of such draw in a timely manner, or shall dishonor such draw, the Trustee shall draw under the Confirming Letter of Credit at such times and in such manner so that full and timely payments are made on the Bonds. (2) On or before 2:00 P.M., Minnesota time, on the Business Day immediately preceding the Business Day immediately preceding the date any payment referred to in this subsection (2) is required to be made under this Indenture or on any prior Business Day, the Trustee shall, without making any prior demand or claim upon the Company, make a drawing under and in accordance with the Letter of Credit so as to receive moneys thereunder in an amount which will be sufficient for the payment in full of the purchase price (including accrued interest) of all Bonds (other than Company Bonds) to be purchased pursuant to Section 4.1 or 4.2 hereof on any date. If the Bank shall fail to pay the amount of such draw in a timely manner, or shall dishonor such draw, the Trustee shall draw under the Confirming Letter of Credit at such times and in such manner so that the purchase price of the Bonds is paid in a full and timely manner. (3) At any time on or after the date of declaration of acceleration of the Bonds, the Trustee shall, without making any prior demand or claim upon the Company, make a drawing under and in accordance with the Letter of Credit and if necessary, the Confirming Letter of Credit so as to receive moneys thereunder in an amount which will be sufficient for the payment in full of the principal of and interest due on the Bonds on such date of acceleration payment." ARTICLE FOUR MISCELLANEOUS PROVISIONS 15 2496622v1