Common use of Adjustment of Loan Payments in the Event of Redemption or Cancellation of Project Bonds Clause in Contracts

Adjustment of Loan Payments in the Event of Redemption or Cancellation of Project Bonds. In the event any Project Bonds are redeemed or in the event the Borrower delivers to the Trustee any Project Bonds with instructions to cancel said Bonds, then in that event the principal amount of such Bonds shall be allowed as a credit against principal payable under the Note in the inverse order of principal payments due under the Note.

Adjustment of Loan Payments in the Event of Redemption or Cancellation of Project Bonds. In the event the Issuer redeems any Project Bonds are redeemed or in the event the Borrower delivers to the Trustee any Project Bonds with instructions to cancel said Bonds, then in that event the principal amount of such Bonds shall be allowed as a credit against principal payable under the Note in the inverse order of principal payments due under the Note.

Adjustment of Loan Payments in the Event of Redemption or Cancellation of Project Bonds. In the event the Issuer redeems any Project Bonds are redeemed or in the event the Borrower delivers Borrowers deliver to the Trustee any Project Bonds with instructions to cancel said Bonds, then in that event the principal amount of such Bonds shall be allowed as a credit against principal payable under the Note in the inverse order of principal payments due under the Note.