Common use of Election to Redeem; Notice to Bank Clause in Contracts

Election to Redeem; Notice to Bank. The exercise by the City of its option to redeem any Securities shall be evidenced by City action consistent with the provisions of the Ordinance. In case of any redemption at the election of the City of less than all of the outstanding Securities, the City shall, at least 45 days prior to the Redemption Date (unless a shorter notice shall be satisfactory to the Bank), notify the Bank of such Redemption Date and of the principal amount of Securities of each Stated Maturity to be redeemed, and the Redemption Price to be paid to the Holders.

Election to Redeem; Notice to Bank. The exercise by the City of its option to redeem any Securities shall be evidenced by City action consistent with the provisions of the OrdinanceOrdinances. In case of any redemption at the election of the City of less than all of the outstanding Securities, the City shall, at least 45 days prior to the Redemption Date (unless a shorter notice shall be satisfactory to the Bank), notify the Bank of such Redemption Date and of the principal amount of Securities of each Stated Maturity to be redeemed, and the Redemption Price to be paid to the Holders.

Election to Redeem; Notice to Bank. The exercise by the City of its option to redeem any Securities Obligations shall be evidenced by City action consistent with the provisions of the Ordinance. In case of any redemption at the election of the City of less than all of the outstanding SecuritiesObligations, the City shall, at least 45 days prior to the Redemption Date (unless a shorter notice shall be satisfactory to the Bank), notify the Bank of such Redemption Date and of the principal amount of Securities Obligations of each Stated Maturity to be redeemed, and the Redemption Price to be paid to the Holders.