Common use of Effect of Redemption Clause in Contracts

Effect of Redemption. Notice of redemption having been duly given as aforesaid, and moneys for payment of the Redemption Price of, together with interest accrued to the redemption date on, the Bonds (or portions thereof) so called for redemption being held by the Trustee, on the redemption date designated in such notice, the Bonds (or portions thereof) so called for redemption shall become due and payable at the Redemption Price specified in such notice plus interest accrued thereon to the redemption date, interest on the Bonds so called for redemption shall cease to accrue, said Bonds (or portions thereof) shall cease to be entitled to any benefit or security under this Indenture, and the Owners of said Bonds shall have no rights in respect thereof except to receive payment of said Redemption Price and accrued interest. All Bonds redeemed pursuant to the provisions of this Article IV shall be canceled upon surrender thereof and destroyed with a certificate of destruction delivered to or upon the Order of the Authority.

Effect of Redemption. Notice of redemption having been duly given as aforesaid, and moneys for payment of the Redemption Price of, together with interest accrued to the redemption date onwith respect to, the Bonds (or portions thereof) so called for redemption being held by the Trustee, on the redemption date designated in such notice, the Bonds (or portions thereof) so called for redemption shall become due and payable at the Redemption Price specified in such notice plus and interest accrued thereon to the redemption date, interest on the Bonds so called for redemption shall cease to accrue, said Bonds (or portions thereof) shall cease to be entitled to any benefit or security under this IndentureTrust Agreement, and the Owners of said Bonds shall have no rights in respect thereof except to receive payment of said Redemption Price and accrued interest. All Bonds redeemed pursuant to the provisions of this Article IV Section shall be canceled cancelled upon surrender thereof by the Trustee. All Bonds purchased pursuant to the provisions of this Section shall be registered in the name of the Authority and destroyed with a certificate of destruction delivered to to, or upon the Order of as directed in writing by, the Authority.

Effect of Redemption. Notice of redemption On the date so designated for redemption, notice having been duly given as aforesaid, in the manner and under the conditions provided herein and moneys for payment of the Redemption Price of, together with redemption price including accrued interest accrued to the redemption date on, the Bonds (or portions thereof) so called fixed for redemption being held by the Trustee, on in trust to pay the redemption date designated in such noticeprice, (a) the Series 2016B Bonds (or portions thereof) so called for redemption shall become due and payable at on the Redemption Price specified in such notice plus interest accrued thereon to the redemption datedate fixed for redemption, (b) interest on the such Series 2016B Bonds so called for redemption shall cease to accrueaccrue from and after such date fixed for redemption, said (c) such Series 2016B Bonds (or portions thereof) shall cease to be entitled to any lien, benefit or security under the Indenture and this Eleventh Supplemental Indenture, and (d) the Owners owners of said such Series 2016B Bonds shall have no rights in respect thereof except to receive payment of said Redemption Price and accrued interestthe redemption price. All Series 2016B Bonds redeemed pursuant to which have been duly called for redemption under the provisions of this Article IV shall be canceled upon surrender thereof III and destroyed with a certificate of destruction delivered to or upon for which moneys for the Order payment of the Authorityredemption price thereof, together with interest accrued to the date fixed for redemption, shall have been set aside and held in trust for the holders of the Series 2016B Bonds to be redeemed, all as provided in this Eleventh Supplemental Indenture, shall not be deemed to be Outstanding under the provisions of the Indenture.

Effect of Redemption. Notice of redemption having been duly given as aforesaid, and moneys for payment of the Redemption Price redemption price (including premium, if any) of, together with interest accrued to the date fixed for redemption date on, the Bonds (or portions thereof) so called for redemption being held by the Trustee, on the redemption date designated in such notice, the Bonds (or portions thereof) so called for redemption shall become due and payable at the Redemption Price specified in such notice plus interest accrued thereon to the redemption datepayable, interest on the Bonds so called for redemption shall cease to accrue, said Bonds (or portions thereof) shall cease to be entitled to any benefit or security under this Indenture, except for payment of particular Bonds for which moneys are being held by the Trustee which moneys shall be pledged to such payment, and the Owners Holders of said Bonds shall have no rights in respect thereof except to receive payment of said Redemption Price redemption price (including premium, if any) and interest accrued interestto the date fixed for redemption. All Bonds redeemed pursuant to the provisions of this Article IV shall be canceled upon surrender thereof and destroyed disposed of in a manner that is deemed appropriate by the Trustee in accordance with a certificate of destruction delivered to or upon the Order of the Authorityits retention policy then in effect.

Effect of Redemption. Notice of redemption On the date fixed for redemption, proper notice having been duly given as aforesaid, (if required) and moneys for payment of the Redemption Price ofredemption price, together with accrued interest accrued to the redemption date ondate, being held in a separate account by the Trustee in trust for the registered owners of the Bonds or portions thereof to be redeemed, the Bonds (or portions thereof) so called for redemption being held by the Trustee, on the redemption date designated in such notice, the of Bonds (or portions thereof) so called for redemption shall become and be due and payable at the Redemption Price specified in such notice plus interest accrued thereon to redemption price provided for redemption of the redemption Bonds or portions of Bonds on that date, interest on the Bonds so or portions of Bonds called for redemption shall cease to accrue, said the Bonds (or portions thereof) of Bonds so called for redemption shall cease to be entitled to any benefit or security under this Indenture, Indenture and the Owners registered owners of said such Bonds or portions of Bonds shall have no rights in respect thereof except to receive payment of said Redemption Price and the redemption price thereof, together with accrued interest. All Bonds redeemed pursuant interest to the provisions redemption date, and, to the extent provided in Section 304 hereof, to receive Bonds for any unredeemed portions of this Article IV shall be canceled upon surrender thereof and destroyed with a certificate of destruction delivered to or upon the Order of the AuthorityBonds.

Effect of Redemption. Notice of redemption having been duly given as aforesaid, and moneys for payment of the Redemption Price redemption price (including premium, if any) of, together with interest accrued to the date fixed for redemption date on, the Bonds (or portions thereof) so called for redemption being held by the Trustee, on the redemption date designated in such notice, the Bonds (or portions thereof) so called for redemption shall become due and payable at the Redemption Price specified in such notice plus interest accrued thereon to the redemption datepayable, interest on the Bonds so called for redemption shall cease to accrue, said Bonds (or portions thereof) shall cease to be entitled to any benefit or security under this Indenture, except for payment of particular Bonds for which moneys are being held by the Trustee which moneys shall be pledged to such payment, and the Owners Holders of said Bonds shall have no rights in respect thereof except to receive payment of said Redemption Price redemption price (including premium, if any) and interest accrued interestto the date fixed for redemption. All Bonds redeemed pursuant to the provisions of this Article IV shall be canceled and destroyed by the Trustee upon surrender thereof and destroyed with the Trustee shall thereupon deliver to the Authority a certificate of destruction delivered to or upon the Order of the Authorityevidencing such cancellation and destruction.

Effect of Redemption. Notice of redemption having been duly given as aforesaid, and moneys for payment of the Redemption Price of, together with interest accrued to the redemption date on, the Bonds (or portions thereof) so called for redemption price being held by the Trustee, the Bonds so called for redemption shall, on the redemption date designated in such notice, the Bonds (or portions thereof) so called for redemption shall become due and payable at the Redemption Price redemption price specified in such notice plus interest accrued thereon to the redemption datenotice, interest on the Bonds so called for redemption shall cease to accrue, said Bonds (or portions thereof) shall cease to be entitled to any lien, benefit or security under this Indenture, and the Owners holders of said Bonds shall have no rights in respect thereof except to receive payment of said Redemption Price and the redemption price thereof (including interest, if any, accrued interestto the redemption date), without interest accrued on any funds held after the redemption date to pay such redemption price. All Bonds fully redeemed pursuant to the provisions of this Article IV shall be canceled upon surrender thereof and destroyed with be cancelled by the Trustee, who shall deliver a certificate of destruction delivered evidencing such cancellation to or upon the Order of Issuer and the AuthorityBorrower. The Trustee shall treat such cancelled Bonds in accordance with its document retention policies and shall not be required to destroy such Bonds.

Effect of Redemption. Notice of redemption having been duly given as aforesaid, and moneys for payment of the Redemption Price of, together with interest accrued to the redemption date on, the Bonds (or portions thereof) so called for redemption being held by the Trustee, on the redemption date designated in such notice, the Bonds (or portions thereof) so called for redemption shall become due and payable at the Redemption Price specified in such notice plus together with interest accrued thereon to the redemption date, interest on the Bonds so called for redemption shall cease to accrue, said Bonds (or portions thereof) shall cease to be entitled to any benefit or security under this Indenture, Trust Agreement and the Owners Holders of said Bonds shall have no rights in respect thereof except to receive payment of said Redemption Price and accrued interestinterest to the date fixed for redemption from funds held by the Trustee for such payment and such funds are hereby pledged to such payment. All Bonds redeemed pursuant to the provisions of this Article IV shall be canceled upon surrender thereof and destroyed with a certificate of destruction delivered to or upon the Order of the Authoritythereof.

Effect of Redemption. Notice If the Issuer complies with the provisions of redemption having been duly given as aforesaidSection 3.03 and Section 3.04, on and moneys for payment of after the Redemption Price ofDate, interest shall cease to accrue on the Notes or the portions of Notes called for redemption. Upon surrender of any such Note for redemption in accordance with such notice, such Note shall be paid by the Issuer at the Redemption Price, together with accrued and unpaid interest, if any, to, but not including, the Redemption Date; provided, however, that installments of interest accrued whose Interest Payment Date is on or prior to the redemption date on, Redemption Date shall be payable to the Bonds (or portions thereof) so called for redemption being held by Holders of such Notes registered as such at the Trustee, close of business on the redemption date designated in such notice, the Bonds (or portions thereof) so called for redemption shall become due and payable at the Redemption Price specified in such notice plus interest accrued thereon relevant Record Dates according to the redemption date, interest on the Bonds so called for redemption shall cease to accrue, said Bonds (or portions thereof) shall cease their terms. If any Note to be entitled to any benefit or security under this Indenture, and the Owners of said Bonds redeemed shall have no rights in respect thereof except to receive payment of said Redemption Price and accrued interest. All Bonds redeemed pursuant to the provisions of this Article IV shall not be canceled so paid upon surrender thereof in accordance with the Issuer’s instructions for redemption, the principal shall, until paid, bear interest from the Redemption Date at the rate borne by the Notes (which may be the Default Rate). Upon such surrender to the Paying Agent, such Notes shall be paid at the applicable Redemption Price, plus accrued and destroyed with a certificate unpaid interest to, but not including, the Redemption Date; provided, however, that installments of destruction delivered interest payable on or prior to or upon the Order Redemption Date shall be payable to the Holders of such Notes registered as such at the Authorityclose of business on the relevant Record Date according to their terms.

Effect of Redemption. Notice of redemption having been duly given as aforesaid, and moneys for payment of the Redemption Price of, together with interest accrued to the redemption date on, the Bonds (or portions thereof) so called for redemption being held by the Trustee, on the redemption date designated in such notice, the Bonds (or portions thereof) so called for redemption shall become due and payable at the Redemption Price specified in such notice plus and interest accrued thereon to the redemption date, interest on the Bonds so called for redemption shall cease to accrue, said Bonds (or portions thereof) shall cease to be entitled to any benefit or security under this Indenture, and the Owners of said Bonds shall have no rights in respect thereof except to receive payment of said Redemption Price and accrued interestinterest to the date fixed for redemption. All Bonds redeemed pursuant to the provisions of this Article IV shall be canceled upon surrender thereof and destroyed with a certificate of destruction delivered to or upon the Order of the Authority.

Effect of Redemption. Notice of redemption having been duly given as aforesaid, and moneys for payment of the Redemption Price of, together with interest accrued to the redemption date on, the Junior Subordinate Bonds (or portions thereof) so called for redemption being held by the Trustee, on the redemption date designated in such notice, the Junior Subordinate Bonds (or portions thereof) so called for redemption shall become due and payable at the Redemption Price specified in such notice plus together with interest accrued thereon to the redemption date, interest on the Junior Subordinate Bonds so called for redemption shall cease to accrue, said Bonds (or portions thereof) shall cease to be entitled to any benefit or security under this Indenture, Trust Agreement and the Owners Holders of said Junior Subordinate Bonds shall have no rights in respect thereof except to receive payment of said Redemption Price and accrued interestinterest to the date fixed for redemption from funds held by the Trustee for such payment and such funds are hereby pledged to such payment. All Junior Subordinate Bonds redeemed pursuant to the provisions of this Article IV shall be canceled upon surrender thereof and destroyed with a certificate of destruction delivered to or upon the Order of the Authoritythereof.