Common use of Extraordinary Mandatory Redemption Clause in Contracts

Extraordinary Mandatory Redemption. The Bonds are subject to extraordinary mandatory redemption by the Authority, in whole, on the Interest Payment Date immediately preceding the termination of the Initial Letter of Credit on September 15, 2000 (the "Letter of Credit Maturity Date") or the Interest Payment Date immediately preceding the Letter of Credit Maturity Date of an Alternate Letter of Credit, at a Redemption Price equal to 100% of the principal amount thereof, in the event the Borrower does not provide the Trustee, at least sixty (60) days prior to the Letter of Credit Maturity Date, with (i) written notice from the Letter of Credit Issuer to the Trustee that the Letter of Credit will be renewed by the Letter of Credit Issuer upon the Letter of Credit Maturity Date, which Letter of Credit shall have an expiration date of September 15 of any subsequent year or written notice from another bank to the Trustee that an Alternate Letter of Credit will be issued on or prior to the Letter of Credit Maturity Date, which Alternate Letter of Credit shall have an expiration date of September 15 of any subsequent year, and (ii) (A) an Alternate Letter of Credit meeting the requirements of Section 404(d)(i) of the Indenture which shall be presented to the Trustee at least sixty (60) days prior to the Letter of Credit Maturity Date and (B) the documents required to be delivered in Section 404(d)(ii) of the Indenture sixty (60) days prior to the Letter of Credit Maturity Date.

Extraordinary Mandatory Redemption. The Bonds are subject to extraordinary mandatory redemption by the Authority, in whole, on the Interest Payment Date immediately preceding the termination date of the Initial Letter of Credit on September 15, 2000 2000, (the "Letter of Credit Maturity Date") or the Interest Payment Date immediately preceding the Letter of Credit Maturity Date of a renewal of the Initial Letter of Credit or an Alternate Letter of Credit), at a Redemption Price equal to 100% of the principal amount thereof, in the event the Borrower does not provide the Trustee, at least sixty (60) days prior to the Letter of Credit Maturity Date, with (i) written notice from the Letter of Credit Issuer Bank to the Trustee that the Letter of Credit will be renewed by the Letter of Credit Issuer Bank upon the Letter of Credit Maturity Datetermination date thereof, which Letter of Credit shall have an expiration date of September 15 of any subsequent year year, or written notice from another bank to the Trustee that an Alternate Letter of Credit will be issued on or prior to the Letter of Credit Maturity Date, which Alternate Letter of Credit shall have an expiration date of September 15 of any subsequent year, and (ii) (A) an Alternate Letter of Credit meeting the requirements of set forth in Section 404(d)(i) of the Indenture hereof and which shall be presented to the Trustee at least sixty (60) days prior to the Letter of Credit Maturity Date and (B) the documents required to be delivered in Section 404(d)(ii) of the Indenture hereof sixty (60) days prior to the Letter of Credit Maturity Date.

Extraordinary Mandatory Redemption. The Bonds are subject to extraordinary mandatory redemption by the Authority, in whole, on the Interest Payment Date immediately preceding the termination date of the Initial Letter of Credit on September 15, 2000 2000, (the "Letter of Credit Maturity Date") or the Interest Payment Date immediately preceding the Letter of Credit Maturity Date of a renewal of the Initial Letter of Credit or an Alternate Letter of Credit), at a Redemption Price equal to 100% of the principal amount thereof, in the event the Borrower does not provide the Trustee, at least sixty (60) days prior to the Letter of Credit Maturity Date, with (i) written notice from the Letter of Credit Issuer Bank to the Trustee that the Letter of Credit will be renewed by the Letter of Credit Issuer Bank upon the Letter of Credit Maturity Datetermination date thereof, which Letter of Credit shall have an expiration date of September 15 of any subsequent year year, or written notice from PAGE 220 another bank to the Trustee that an Alternate Letter of Credit will be issued on or prior to the Letter of Credit Maturity Date, which Alternate Letter of Credit shall have an expiration date of September 15 of any subsequent year, and (ii) (A) an Alternate Letter of Credit meeting the requirements of set forth in Section 404(d)(i) of the Indenture hereof and which shall be presented to the Trustee at least sixty (60) days prior to the Letter of Credit Maturity Date and (B) the documents required to be delivered in Section 404(d)(ii) of the Indenture hereof sixty (60) days prior to the Letter of Credit Maturity Date.