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.
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Samples: Reimbursement, Credit and Security Agreement, Reimbursement, Credit and Security Agreement (York Water Co)
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 Letter of Credit Bank and the Bank will be fully reimbursed for with respect to all drawings on the Letter of Credit in connection with such redemption.
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Samples: Reimbursement Agreement
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 optional redemption the Letter of Credit Bank and the Bank will be fully reimbursed for with respect to all drawings on the Letter of Credit in connection with such optional redemption.
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