Credit Against Sinking Fund Installments Sample Clauses

Credit Against Sinking Fund Installments. There shall be credited against and in satisfaction of the Sinking Fund Installment payable on any date the principal amount of Taxable Series 2020B Bonds entitled to such Sinking Fund Installment (A) purchased with moneys in the Debt Service Fund pursuant to Section 5.07(c) of the Master Indenture, (B) redeemed at the option of the Corporation pursuant to paragraph (b) of this Section, (C) purchased by the Government or the Corporation and delivered to the Trustee for cancellation and (D) deemed to have been paid in accordance with Section 12.01 of the Master Indenture. Taxable Series 2020B Bonds purchased pursuant to Section 5.07(c) of the Master Indenture shall be applied in satisfaction of a Sinking Fund Installment in accordance with such Section. Taxable Series 2020B Bonds redeemed at the option of the Corporation, purchased by the Corporation or the Government (other than pursuant to Section 5.07(c) of the Master Indenture) or deemed to have been paid in accordance with Section 12.01 of the Master Indenture shall be applied in satisfaction, in whole or in part, of one or more Sinking Fund Installments payable on such dates as the Corporation shall specify in a written direction of the Corporation delivered to the Trustee at least twenty (20) days prior to the earliest date on which notice of redemption of the Taxable Series 2020B Bonds entitled to such Sinking Fund Installment may be given by the Trustee and the Sinking Fund Installment payable on each date specified in such direction shall be reduced by the principal amount of the Taxable Series 2020B Bonds so purchased, redeemed or deemed to have been paid in accordance with Section 12.01 of the Master Indenture to be applied in satisfaction of such Sinking Fund Installment as set forth in such direction.
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Related to Credit Against Sinking Fund Installments

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