Demand Purchase Option definition

Demand Purchase Option means, during any Daily Rate Period or Weekly Rate Period, the provision of a Group of 2021 Series A Variable Rate Bonds for purchase of any 2021 Series A Bond of such Group upon the demand of the owner thereof as described in Section 802 of Appendix A hereto.

Demand Purchase Option means the option granted to Owners of Bonds to require that Bonds be purchased prior to the Conversion Date pursuant to Section 5.04 hereof.

Demand Purchase Option means during a Weekly Rate Period, the provision of the 2013 Series B Bonds for purchase of any such Bond upon the demand of the owner thereof as described in the Resolution.

Examples of Demand Purchase Option in a sentence

• From the date on which the Remarketing Agent receives notice of any Mandatory Tender Date or redemption date until such date, the Remarketing Agent will not place any Bond except to a person who acknowledges in writing that it has knowledge of the matters stated in the notice of such Mandatory Tender Date, or redemption given by the Trustee pursuant to the Indenture and shall have agreed in writing not to sell such Bond, other than pursuant to the Demand Purchase Option.

• The Trustee shall, upon receipt of a notice of the exercise by any Owner of the Demand Purchase Option, give prompt telephonic notice thereof to the Remarketing Agent, specifying the amount of Bonds to be purchased and the Purchase Date, and shall, not later than the following Business Day, confirm such telephonic notice in writing and deliver to the Remarketing Agent and the Bank a copy of such notice.

• The Trustee shall hold all money (without investment thereof) delivered to it thereunder for the purchase of Bonds pursuant to the Demand Purchase Option or on a Mandatory Tender Date as agent and bailee of, and in escrow for the benefit of, the person or entity which shall have so delivered such money until the Bonds purchased with such money shall have been delivered to or for the account of such person or entity.

• The Trustee shall cancel all Bonds that it has received pursuant to the Demand Purchase Option or on a Mandatory Tender Date and shall register and authenticate new Bonds in a like aggregate principal amount in the names and in the denominations set forth in the written notice given to the Trustee by the Remarketing Agent pursuant to the Indenture.

• Delivery of Bonds (a) Bonds remarketed by the Remarketing Agent upon the exercise of the Demand Purchase Option or the occurrence of a Mandatory Tender Date shall be delivered to the Trustee for cancellation pursuant to the Indenture, and the Trustee shall deliver, to the purchasers thereof, Bonds in all applicable respects equivalent to the cancelled Bonds.

More Definitions of Demand Purchase Option

Demand Purchase Option means the option granted to Owners of Bonds, while the Bonds bear interest at the Daily Rate or the Weekly Rate, to require that Bonds be purchased pursuant to Section 4.02 hereof.

Demand Purchase Option means the option of Owners to have their Bonds purchased in accordance with the Indenture.

Demand Purchase Option means, during any Daily Rate Period, Weekly Rate Period or Index Rate Period, the provision of a Series of 2022 Series D Bonds for purchase of any 2022 Series D Bond of such Series upon the demand of the owner thereof as described in Section 802 of Appendix A hereto.

Demand Purchase Option means the provision of the 2005 Bonds for purchase of any 2005 Bond upon the demand of the owner thereof as described in the Resolution.

Demand Purchase Option means the option granted to Owners of Bonds to require that Bonds be purchased prior to the Conversion Date in accordance with the terms and conditions set forth in Section 5.04 of this Indenture.

Demand Purchase Option means the provision of the 2004 Bonds for purchase of any 2004 Bond upon the demand of the owner thereof as described in the Resolution.

Demand Purchase Option means the option granted to Owners of Bonds to require that Bonds be purchased prior to the Conversion Date pursuant to Section 5.05 hereof.