Extraordinary Redemption. The Bonds shall be subject to redemption, in whole or in part, on any date, in Authorized Denominations, at the option of the Authority, from and to the extent of Insurance and Condemnation Proceeds received with respect to all or a portion of the Property, deposited by the Trustee in the Redemption Account pursuant to Section 5.03 hereof, at a Redemption Price equal to the principal amount of the Bonds to be redeemed, plus accrued interest thereon to the date of redemption, without premium.
Extraordinary Redemption. During any Long Term Period, the Bonds are subject to redemption in whole by the Issuer, at the option of the Company, at a redemption price of 100% of the Outstanding principal amount thereof plus accrued interest to (but not including) the redemption date, in the event all or substantially all of the Project shall have been damaged or destroyed, or there occurs the condemnation of all or substantially all of the Project or the taking by eminent domain of such use or control of the Project as to render it, in the judgment of the Company, unsatisfactory for its intended use for a period of time longer than one year.
Extraordinary Redemption. Section 3.01 of the Original Indenture is hereby deleted in its entirety and replaced with the following:
Section 3.01. [Reserved].”
Extraordinary Redemption. The 2015 Bonds are subject to redemption by the Authority on any date prior to their respective stated maturities, upon notice as hereinafter provided, as a whole or in part by lot within each stated maturity in integral multiples of Authorized Denominations, from prepayments made by the County pursuant to Section 7.02(a) of the Facilities Lease, at a redemption price equal to the sum of the principal amount thereof, without premium, plus accrued interest thereon to the Redemption Date. Whenever less than all of the Outstanding Bonds are to be redeemed on any one date, the Trustee shall select, in accordance with written directions from the Authority, the Bonds to be redeemed in part from the Outstanding Bonds so that the aggregate annual principal amount of and interest on Bonds which shall be payable after such Redemption Date shall be as nearly proportional as practicable to the aggregate annual principal amount of and interest on Bonds Outstanding prior to such Redemption Date.
Extraordinary Redemption. The Bonds shall be subject to redemption by the Authority upon written direction of the Company in the event (1) the Project Facilities, or any portion thereof, are damaged or destroyed or taken in a condemnation proceeding or a deed of all or any part thereof as given in lieu of condemnation, as provided in Section 6.04 of the Loan Agreement, or (2) the Company shall exercise its option to cause the Bonds to be redeemed for any reason as provided in Section 9.02 of the Loan Agreement. If called for redemption at any time pursuant to (1) or (2) above, the Bonds shall be subject to redemption by the Authority on any Interest Payment Date, in whole or in part, at a redemption price of one hundred percent (100%) of the principal amount thereof plus accrued interest to the redemption date.
Extraordinary Redemption. (a) The Bonds are callable for redemption in the event (i) the Project Facilities or any portion thereof is damaged or destroyed or taken in a condemnation proceeding as provided in Section 6.04 of the Loan Agreement or (ii) the Borrower shall exercise its option to cause the Bonds to be redeemed as provided in Section 9.02 of the Loan Agreement. If called for redemption at any time pursuant to this Section 4.01(a), the Bonds shall be subject to redemption by the Authority on any Interest Payment Date, in whole or in part, at a redemption price equal to 100% of the principal amount thereof being redeemed, plus accrued interest to the redemption date.
Extraordinary Redemption. If at any time the Partnership, for any reason, becomes or is about to become subject to the registration requirements of the Investment Company Act, the General Partner may take any action it considers necessary or advisable in its good faith discretion (including, without limitation, causing the Partnership to redeem Partnership Units of Limited Partners in exchange for Partnership assets or other compensation determined by the General Partner) in order to avoid, or prevent the Partnership from becoming subject to, such requirements.
Extraordinary Redemption. The Bonds are subject to redemption, at the ------------------------ direction of the Users as to maturities, prior to maturity on the earliest Business Day for which the required notice maybe given, in part in the case of redemption pursuant to (a), (b), and (c) below, at a redemption price equal to 100% of the principal amount thereof, plus accrued interest to the date of redemption, without premium or penalty, in the event:
(a) any amounts remain in the Acquisition/Construction Fund created under the Indenture on the date on which completion of the Project is evidenced to the Trustee; or
(b) there shall be available to the Trustee excess Net Proceeds (as defined in the Loan Agreement) of insurance of or condemnation awards after repair or restoration of the Project following damage to or condemnation of the Project or any part thereof, as provided in the Loan Agreement; or
(c) there shall be available to the Trustee title insurance proceeds, as provided in the Loan Agreement. In case of partial redemption pursuant to any of (a), (b), and (c) above, Bonds in an aggregate principal amount equal to such remaining or available amounts, rounded upwards to the nearest Authorized Denomination, shall be redeemed.
Extraordinary Redemption. The Series 2021 Bonds shall be callable for redemption prior to maturity in whole on any date, if (i) the Project or a material portion thereof is damaged or destroyed or taken in a condemnation proceeding, or a material defect in the construction of the Project shall become apparent, or title to or the use of all or any material portion of the Project shall be lost by reason of a defect in title thereto, (ii) the Net Proceeds of any insurance policy, performance bond or condemnation award made available by reason of one or more such occurrences shall be insufficient to pay in full the cost of repairing or replacing such portion of the Project, and (iii) the Board elects to discharge its obligation to repair and replace such portion of the Project by depositing such Net Proceeds into the Bond Fund. Upon the deposit of such Net Proceeds in the Bond Fund, the payment obligations of the Board with respect to the Project under the Master Lease shall terminate and the Board shall have no further obligation for the payment of Base Rentals and Additional Rentals thereunder with respect to the Project, and possession of the Project, as well as all right, title and interest of the Board and the Authority in any funds or accounts created under the Indenture with respect to the Project shall be surrendered to the Trustee, as trustee for the Bondholders. Thereafter, the Indenture and the Security Documents applicable to the Project may, subject to the limitations of Article IX of the General Indenture, be foreclosed and the Authority’s interest in the Project liquidated and the proceeds of such liquidation and the Net Proceeds of any insurance policy, performance bond or condemnation award so deposited in the Bond Fund, as well as all other moneys on deposit in any fund created under the Indenture with respect to the Project (except moneys held in the Rebate Fund or for the payment of Bonds not then deemed outstanding), shall be applied to the redemption of the Series 2021 Bonds at the earliest date practicable, as specified in a written notice from the Authority to the Trustee. Any such redemption of the Series 2021 Bonds shall be made upon payment of all or a prorated portion of the principal amount thereof plus accrued interest thereon to the redemption date. IN THE EVENT THE SERIES 2021 BONDS ARE TO BE REDEEMED BY PAYMENT OF AN AMOUNT LESS THAN THE OUTSTANDING PRINCIPAL AMOUNT THEREOF, AND ACCRUED INTEREST TO THE REDEMPTION DATE, NO FURTHER CLAIM FOR PAYMENT MAY B...
Extraordinary Redemption. (i) The Bonds are subject to mandatory redemption, in whole or in part, on any Business Day, in the event and to the extent the Trustee receives funds from the Borrower representing a mandatory prepayment of principal under the Note, at a redemption price equal to the principal amount thereof plus accrued interest and plus any premium remitted therewith as required by the Note.
(ii) At the option of the Bondowner Representative, the Bonds are subject to redemption in whole, on any Business Day, in the event the Trustee receives written notice of a Determination of Taxability and the Borrower’s failure to give written notice to the Trustee within 15 days of a Determination of Taxability that the Bonds will thereafter bear interest at the Taxable Rate, at a redemption price equal to the principal amount thereof, plus accrued interest thereon.
(iii) The Bonds are subject to mandatory redemption, in whole or in part, on any Business Day prior to, in amounts sufficient to reduce the aggregate principal amount of Outstanding Bonds to the lesser of $[7,950,000] or the amount necessary to achieve compliance for the Conversion Conditions set forth in the Forward Bond Purchase Agreement.
