Common use of Effect of Redemption Clause in Contracts

Effect of Redemption. From and after the date fixed for redemption, if funds available for the payment of the redemption price of and interest on the Bonds so called for redemption shall have been duly deposited with the Trustee, such Bonds so called shall cease to be entitled to any benefit under this Indenture other than the right to receive payment of the redemption price and accrued interest to the redemption date, and no interest shall accrue thereon from and after the redemption date specified in such notice.

Appears in 2 contracts

Samples: Indenture of Trust, Indenture of Trust

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Effect of Redemption. From and after the date fixed for redemption, if funds available for the payment of the redemption price principal of and interest (and premium, if any) on the Bonds so called for redemption shall have been duly deposited with the Trusteeprovided, such Bonds so called shall cease to be entitled to any benefit under this Indenture other than the right to receive payment of the redemption price and accrued interest to the redemption dateprice, and no interest shall accrue thereon from and after the redemption date specified in such notice. All Bonds redeemed pursuant to this Section 2.02 shall be canceled and destroyed.

Appears in 2 contracts

Samples: Commitment Agreement and Purchase Contract, Commitment Agreement and Purchase Contract

Effect of Redemption. From and after the date fixed for redemption, if funds available for the payment of the redemption price of principal of, and interest on and any premium on, the Bonds so called for redemption shall have been duly deposited with in the TrusteeBond Fund, such Bonds so called shall cease to be entitled to any benefit under this Indenture Agreement other than the right to receive payment of the redemption price and accrued interest to the redemption dateprice, and no interest shall accrue thereon from and on or after the redemption date specified in such notice.. All Bonds redeemed and purchased by the Fiscal Agent pursuant to this Section

Appears in 2 contracts

Samples: Commitment Agreement and Purchase Contract, Commitment Agreement and Purchase Contract

Effect of Redemption. From and after the date fixed for redemption, if funds available for the payment of the redemption price principal of and interest (and premium, if any) on the Bonds so called for redemption shall have been duly deposited with the Trusteeprovided, such Bonds so called shall cease to be entitled to any benefit under this Indenture other than the right to receive payment of the redemption price and accrued interest to the redemption dateprice, and no interest shall accrue thereon from and after the redemption date specified in such notice. All Bonds redeemed pursuant to this Section 2.2 shall be cancelled and destroyed.

Appears in 2 contracts

Samples: Indenture of Trust, Indenture of Trust

Effect of Redemption. From and after the date fixed for redemption, if funds available for the payment of the redemption price principal of and interest (and premium, if any) on the Bonds so called for redemption shall have been duly deposited with the Trusteeprovided, such Bonds so called shall cease to be entitled to any benefit under this Indenture other than the right to receive payment of the redemption price and accrued interest to the redemption dateprice, and no interest shall accrue thereon from and after the redemption date specified in such notice. All Bonds redeemed or purchased pursuant to this Section shall be canceled and shall be surrendered to the Agency.

Appears in 2 contracts

Samples: Indenture of Trust, Indenture of Trust

Effect of Redemption. From and after the date fixed for redemption, if funds available for the payment of the redemption price of and interest on the Bonds so called for redemption shall have been duly deposited with the Trustee, such Bonds so called shall such cease to be entitled to any benefit under this Indenture other than the right to receive payment of the redemption price and accrued interest to the redemption date, and no interest shall accrue thereon from and after the redemption date specified in such notice.

Appears in 1 contract

Samples: Indenture

Effect of Redemption. From and after the date fixed for redemption, if funds available for the payment of the redemption price of principal of, and interest on and any premium on, the Bonds so called for redemption shall have been duly deposited with in the TrusteeBond Fund, such Bonds so called shall cease to be entitled to any benefit under this Indenture Agreement other than the right to receive payment of the redemption price and accrued interest to the redemption dateprice, and no interest shall accrue thereon from and on or after the redemption date specified in such notice.

Appears in 1 contract

Samples: Fiscal Agent Agreement

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Effect of Redemption. From and after the date fixed for redemption, if funds available for the payment of the redemption price principal of and interest (and premium, if any) on the Authority Bonds so called for redemption shall have been duly deposited with the Trusteeprovided, such Authority Bonds so called shall cease to be entitled to any benefit under this Indenture other than the right to receive payment of the redemption price and accrued interest to the redemption dateprice, and no interest shall accrue thereon from and after the redemption date specified in such notice. All Authority Bonds redeemed pursuant to this Section 2.2 shall be canceled and destroyed.

Appears in 1 contract

Samples: Indenture of Trust

Effect of Redemption. From and after the date fixed for redemption, if funds available for the payment of the redemption price principal of (including sinking payments) and interest and premium, if any, on the Bonds so called for redemption shall have been duly deposited with in the TrusteeRedemption Fund on the date fixed for redemption, such Bonds so called shall cease to be entitled to any benefit under this Indenture Agreement other than the right to receive payment of the redemption price and accrued interest to the redemption dateprice, and no interest shall accrue thereon from and on or after the redemption date specified in such notice.

Appears in 1 contract

Samples: Fiscal Agent Agreement

Effect of Redemption. From and after the date fixed for redemption, if notice of such redemption shall have been duly given and funds available for the payment of the such redemption price of and interest on the Bonds so called for redemption shall have been duly deposited with the Trusteeprovided, such Bonds so called shall cease to be entitled to any benefit under this Indenture other than the right to receive payment of the redemption price and accrued interest to the redemption date, and no interest shall accrue thereon on such Bonds from and after the redemption date specified in such notice. All Bonds redeemed pursuant to the provisions of this section shall be canceled.

Appears in 1 contract

Samples: Indenture

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