Common use of Bonds Payable on Redemption Date Clause in Contracts

Bonds Payable on Redemption Date. Notice of redemption having been given as aforesaid, the Bonds so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Bonds shall cease to bear interest. Upon surrender of such Bonds for redemption in accordance with said notice, such Bonds shall be paid by the Company at the Redemption Price, together with accrued interest to the Redemption Date. Installments of interest whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Bonds registered as such on the relevant Record Dates according to their terms and the provisions of Section 307. If any Bond called for redemption shall not be so paid upon surrender thereof for redemption, the principal (and premium, if any) shall, until paid, bear interest from the Redemption Date at the rate borne by the Bond.

Appears in 3 contracts

Samples: Ilx Inc/Az/, Ilx Inc/Az/, Ilx Inc/Az/

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Bonds Payable on Redemption Date. Notice of redemption having been given as aforesaid, the Bonds so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified thereof (together with accrued interest, if any, to the Redemption Date), and from and after such date Redemption Date (unless the Company Issuer shall default in the payment of the Redemption Price and accrued interest) such Bonds shall cease to bear interest. Upon surrender of any such Bonds Bond for redemption in accordance with said notice, maturing after the Redemption Date, such Bonds Bond shall be paid by the Company Issuer at the Redemption Price, together with accrued interest interest, if any, to the Redemption Date. Installments ; provided that installments of interest on Bonds whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Bonds Bonds, or one or more Predecessor Bonds, registered as such at the close of business on the relevant Regular Record Dates according to their terms and the provisions of Section 307. If any Bond called for redemption shall not be so paid upon surrender thereof for redemption, the principal (and premium, if any) shall, until paid, bear interest from the Redemption Date at the rate borne by the Bond310.

Appears in 1 contract

Samples: Guaranty Agreement (Cedar Brakes I LLC)

Bonds Payable on Redemption Date. Notice of redemption pursuant to Section 11.01 or having been given as aforesaidprovided in Section 11.02, the Bonds so to be so redeemed shall, on the applicable Redemption Date, become due and payable at the Redemption Price therein specified and from and after as of the Business Day preceding such date Redemption Date (unless the Company Issuer shall default Default in the payment of the Redemption Price and accrued interestPrice) such Bonds shall cease to bear interest. Upon surrender of such Bonds for redemption in accordance with said noticeOn or after the Redemption Date, such Bonds shall be paid by the Company Issuer at the Redemption Price; provided, together with accrued interest to the Redemption Date. Installments of interest whose Stated Maturity is however, that payments due on a Payment Date on or prior to the Redemption Date shall be payable to the Holders of such Bonds registered as such on the relevant Record Dates according to their terms and the provisions of Section 3073.02. If Bonds are redeemed in part pursuant to Sections 11.01(a), the redemption shall be pro rata in respect of all Outstanding Bonds. If any Bond called for redemption shall not be so paid upon surrender thereof for redemption, the principal (and premium, if any) thereof shall, until paid, bear interest from up to the Business Day prior to the relevant Redemption Date at the rate borne by the BondBond Interest Rate.

Appears in 1 contract

Samples: Administration Agreement (National Collegiate Trust 1997-S2)

Bonds Payable on Redemption Date. Notice of redemption having been given as aforesaidprovided in Section 11.04, the Bonds of a Series or portions thereof so to be redeemed shall, on the applicable Redemption Date, become due and payable at the Redemption Price therein specified Price, and from and after on such date Redemption Date (unless the Company Depositor shall default Default in the payment of the Redemption Price and accrued interestPrice) such Bonds Bonds, shall cease to bear interestinterest as specified in the related Series Supplement. Upon surrender of such Bonds for redemption in accordance with said noticeOn or after the Redemption Date, such Bonds shall be paid by the Company Depositor at the Redemption Price; provided, together with accrued interest to the Redemption Date. Installments of interest whose Stated Maturity is however, that payments due on a Payment Date on or prior to the Redemption Date shall be payable to the Holders of such Bonds registered as such on the relevant Record Dates according to their terms and the provisions of Section 3073.07. If any Bond called for redemption shall not be so paid upon surrender thereof for redemption, the principal (and premium, if any) shall, until paid, bear interest from the Redemption Date at the rate borne by the Bond.applicable Bond Interest Rate. ARTICLE TWELVE ACCOUNTS, ACCOUNTINGS AND RELEASES

Appears in 1 contract

Samples: Union Planters Home Equity Corp

Bonds Payable on Redemption Date. Notice of redemption pursuant to Section 11.01 or having been given as aforesaidprovided in Section 11.02, the Bonds so to be so redeemed shall, on the applicable Redemption Date, become due and payable at the Redemption Price therein specified and from and after as of the Business Day preceding such date Redemption Date (unless the Company Issuer shall default Default in the payment of the Redemption Price and accrued interestPrice) such Bonds shall cease to bear interest. Upon surrender of such Bonds for redemption in accordance with said noticeOn or after the Redemption Date, such Bonds shall be paid by the Company Issuer at the Redemption Price; provided, together with accrued interest to the Redemption Date. Installments of interest whose Stated Maturity is however, that payments due on a Payment Date on or prior to the Redemption Date shall be payable to the Holders of such Bonds registered as such on the relevant Record Dates according to their terms and the provisions of Section 3073.02. If Bonds are redeemed in part pursuant to Sections 11.01(a)(i) or (a)(ii), the redemption shall be pro rata in respect of all Outstanding Bonds. If any Bond called for redemption shall not be so paid upon surrender thereof for redemption, the principal (and premium, if any) thereof shall, until paid, bear interest from up to the Business Day prior to the relevant Redemption Date at the rate borne by the BondBond Interest Rate.

Appears in 1 contract

Samples: Custodial Agreement (National Collegiate Trust 1996-S2)

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Bonds Payable on Redemption Date. Upon the giving of notice pursuant to Section 3.4 (Notice of redemption having been given as aforesaidRedemption) and the satisfaction of the conditions, if any, set forth in such notice, the Bonds so to be redeemed shall, on the Redemption Date, or portions thereof called for redemption in such notice shall become due and payable on the Redemption Date and at the Redemption Price therein (plus any applicable Make-Whole Premium) specified in such notice, and from and after such date the Redemption Date (unless the Company Partnership shall default in the payment of such Bonds at the Redemption Price and accrued interestplus any applicable Make-Whole Premium) such Bonds or portions thereof shall cease to bear interest. Upon surrender of any such Bonds Bond for redemption in accordance with said such notice, such Bonds Bond or portions thereof shall be paid and redeemed by the Company Partnership at the Redemption PricePrice therefor plus any applicable Make-Whole Premium; provided, together with accrued interest to the Redemption Date. Installments however, that any payment of interest whose Stated Maturity on any Bond, the Scheduled Payment Date of which is on or prior to the Redemption Date shall be payable to the Holders Holder of such Bonds Bond registered as such at the close of business on the relevant Regular Record Dates according to their Date in accordance with the terms of this Indenture and the provisions of Section 307. If any Bond called for redemption shall not be so paid upon surrender thereof for redemption, the principal (and premium, if any) shall, until paid, bear interest from the Redemption Date at the rate borne by the such Bond.

Appears in 1 contract

Samples: Trust Indenture (Tenaska Georgia Partners Lp)

Bonds Payable on Redemption Date. Notice Subject to Section 3.08 hereof, notice of redemption having been given as aforesaid, and the deposit described in Section 3.05 having been made, and all conditions to such redemption having been fulfilled, the Bonds so to be redeemed shall, on the Redemption Dateredemption date, become due and payable at the Redemption Price redemption price therein specified specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Bonds shall cease to bear interest. Upon surrender of any such Bonds Bond for redemption in accordance with said notice, such Bonds Bond shall be paid by the Company District at the Redemption Price, together with accrued interest to the Redemption Dateredemption price. Installments of interest whose Stated Maturity is on or prior to the Redemption Date redemption date shall be payable to the Holders of such Bonds registered as such on the relevant Record Dates according to their terms and the provisions of Section 307terms. If any Bond called for redemption shall not be so paid upon surrender thereof for redemption, the principal (and premium, if any) shall, until paid, bear interest from the Redemption Date redemption date at the rate borne by the Bond.

Appears in 1 contract

Samples: Trust Indenture and Security Agreement (Fortress Transportation & Infrastructure Investors LLC)

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