LIMITATION ON OPTIONAL CALLS. Exercise its rights under the Bond Documents to direct the Issuer to call the Bonds for any optional redemption thereof or convert the interest rate thereon to the Long Term Rate, unless the Company first demonstrates to the reasonable satisfaction of the Lenders and their legal counsel that at the time of such redemption or conversion the Lenders will be fully reimbursed for all drawings on the Letters of Credit in connection with such redemption or conversion.
LIMITATION ON OPTIONAL CALLS. The Borrower will not exercise its rights under the Bond Documents to direct the Issuer to call the Bonds for any optional redemption thereof, unless the Borrower first demonstrates to the reasonable satisfaction of the Bank that at the time of such redemption the Bank will be fully reimbursed for all drawings on the Letter of Credit in connection with such redemption.
