Common use of Mandatory Purchase at the Direction of the Authority Clause in Contracts

Mandatory Purchase at the Direction of the Authority. When the Daily Mode or the Weekly Mode is in effect, and prior to any termination or expiration of the Liquidity Facility, the 2017 Series B-1 Bonds are subject to mandatory purchase on any Business Day designated by the Authority by written notice delivered as provided in this Section 7.5, with the consent of the Remarketing Agent and the Liquidity Facility Provider, at the Purchase Price, payable in immediately available funds. The Trustee shall give notice of mandatory purchase pursuant to this Section 7.5 by first-class mail, or transmitted in such other manner (such as by Electronic Means) as may be customary for the industry as directed in writing by the Authority, to the Owners of the 2017 Series B-1 Bonds subject to mandatory purchase, with a copy to the MSRB, no less than 15 days prior to the Mandatory Purchase Date. The notice shall state the Mandatory Purchase Date, the Purchase Price and that interest on 2017 Series B-1 Bonds subject to mandatory purchase shall cease to accrue from and after the Mandatory Purchase Date. The failure to transmit such notice with respect to any 2017 Series B-1 Bond shall not affect the validity of the mandatory purchase of any other 2017 Series B-1 Bond with respect to which notice was so transmitted. Any notice transmitted as aforesaid will be conclusively presumed to have been given, whether or not actually received by any Owner. 2017 Series B-1 Bonds purchased pursuant to this Section 7.5 shall be delivered by the Owners (with all necessary endorsements) to the office of the Paying Agent in Salt Lake City, Utah, at or before 12:00 noon, New York City time, on the Mandatory Purchase Date, and payment of the Purchase Price of such 2017 Series B-1 Bonds shall be made by wire transfer in immediately available funds by the Paying Agent by the close of business on such Mandatory Purchase Date.

Mandatory Purchase at the Direction of the Authority. When the Daily Mode or the Weekly Mode is in effect, and prior to any termination or expiration of the Liquidity Facility, the 2017 Series B-1 2020A-1 Bonds are subject to mandatory tender for purchase on any Business Day designated by the Authority by written notice delivered as provided in this Section 7.5, with the consent of the Remarketing Agent and the Liquidity Facility Provider, at the Purchase Price, payable in immediately available funds. The Trustee shall give notice of mandatory purchase pursuant to this Section 7.5 by first-class mail, or transmitted in such other manner (such as by Electronic Means) as may be customary for the industry as directed in writing by the Authority, to the Owners of the 2017 Series B-1 2020A-1 Bonds subject to mandatory purchase, with a copy to the MSRB, no less than 15 days prior to the Mandatory Purchase Date. The notice shall state the Mandatory Purchase Date, the Purchase Price and that interest on 2017 Series B-1 2020A-1 Bonds subject to mandatory purchase shall cease to accrue from and after the Mandatory Purchase Date. The failure to transmit such notice with respect to any 2017 Series B-1 2020A-1 Bond shall not affect the validity of the mandatory purchase of any other 2017 Series B-1 2020A-1 Bond with respect to which notice was so transmitted. Any notice transmitted as aforesaid will be conclusively presumed to have been given, whether or not actually received by any Owner. 2017 Series B-1 2020A-1 Bonds purchased pursuant to this Section 7.5 shall be delivered by the Owners (with all necessary endorsements) to the office of the Paying Agent in Salt Lake City, UtahAgent, at or before 12:00 noon10:00 a.m., New York City timetime (11:30 a.m., New York City with respect to 2020A-1 Bonds in the Daily Mode), on the Mandatory Purchase Date, and payment of the Purchase Price of such 2017 Series B-1 2020A-1 Bonds shall be made by wire transfer in immediately available funds by the Paying Agent by the close of business on such Mandatory Purchase Date.

Mandatory Purchase at the Direction of the Authority. When the Daily Mode or the Weekly Mode is in effect, and prior to any termination or expiration of the Liquidity Facility, the 2017 Series B-1 2020D-2 Bonds are subject to mandatory tender for purchase on any Business Day designated by the Authority by written notice delivered as provided in this Section 7.5, with the consent of the Remarketing Agent and the Liquidity Facility Provider, at the Purchase Price, payable in immediately available funds. The Trustee shall give notice of mandatory purchase pursuant to this Section 7.5 by first-class mail, or transmitted in such other manner (such as by Electronic Means) as may be customary for the industry as directed in writing by the Authority, to the Owners of the 2017 Series B-1 2020D-2 Bonds subject to mandatory purchase, with a copy to the MSRB, no less than 15 days prior to the Mandatory Purchase Date. The notice shall state the Mandatory Purchase Date, the Purchase Price and that interest on 2017 Series B-1 2020D-2 Bonds subject to mandatory purchase shall cease to accrue from and after the Mandatory Purchase Date. The failure to transmit such notice with respect to any 2017 Series B-1 2020D-2 Bond shall not affect the validity of the mandatory purchase of any other 2017 Series B-1 2020D-2 Bond with respect to which notice was so transmitted. Any notice transmitted as aforesaid will be conclusively presumed to have been given, whether or not actually received by any Owner. 2017 Series B-1 2020D-2 Bonds purchased pursuant to this Section 7.5 shall be delivered by the Owners (with all necessary endorsements) to the office of the Paying Agent in Salt Lake City, UtahAgent, at or before 12:00 noon10:00 a.m., New York City timetime (11:30 a.m., New York City with respect to 2020D-2 Bonds in the Daily Mode), on the Mandatory Purchase Date, and payment of the Purchase Price of such 2017 Series B-1 2020D-2 Bonds shall be made by wire transfer in immediately available funds by the Paying Agent by the close of business on such Mandatory Purchase Date.

Mandatory Purchase at the Direction of the Authority. When the Daily Mode or the Weekly Mode is in effect, and prior to any termination or expiration of the Liquidity Facility, the 2017 Series B-1 2018A-2 Bonds are subject to mandatory tender for purchase on any Business Day designated by the Authority by written notice delivered as provided in this Section 7.5, with the consent of the Remarketing Agent and the Liquidity Facility Provider, at the Purchase Price, payable in immediately available funds. The Trustee shall give notice of mandatory purchase pursuant to this Section 7.5 by first-class mail, or transmitted in such other manner (such as by Electronic Means) as may be customary for the industry as directed in writing by the Authority, to the Owners of the 2017 Series B-1 2018A-2 Bonds subject to mandatory purchase, with a copy to the MSRB, no less than 15 days prior to the Mandatory Purchase Date. The notice shall state the Mandatory Purchase Date, the Purchase Price and that interest on 2017 Series B-1 2018A-2 Bonds subject to mandatory purchase shall cease to accrue from and after the Mandatory Purchase Date. The failure to transmit such notice with respect to any 2017 Series B-1 2018A-2 Bond shall not affect the validity of the mandatory purchase of any other 2017 Series B-1 2018A-2 Bond with respect to which notice was so transmitted. Any notice transmitted as aforesaid will be conclusively presumed to have been given, whether or not actually received by any Owner. 2017 Series B-1 2018A-2 Bonds purchased pursuant to this Section 7.5 shall be delivered by the Owners (with all necessary endorsements) to the office of the Paying Agent in Salt Lake City, UtahAgent, at or before 12:00 noon10:00 a.m., New York City timetime (11:30 a.m., New York City with respect to 2018A-2 Bonds in the Daily Mode), on the Mandatory Purchase Date, and payment of the Purchase Price of such 2017 Series B-1 2018A-2 Bonds shall be made by wire transfer in immediately available funds by the Paying Agent by the close of business on such Mandatory Purchase Date.

Mandatory Purchase at the Direction of the Authority. When the Daily Mode or the Weekly Mode is in effect, and prior to any termination or expiration of the Liquidity Facility, the 2017 Series B-1 2019C Bonds are subject to mandatory tender for purchase on any Business Day designated by the Authority by written notice delivered as provided in this Section 7.5, with the consent of the Remarketing Agent and the Liquidity Facility Provider, at the Purchase Price, payable in immediately available funds. The Trustee shall give notice of mandatory purchase pursuant to this Section 7.5 by first-class mail, or transmitted in such other manner (such as by Electronic Means) as may be customary for the industry as directed in writing by the Authority, to the Owners of the 2017 Series B-1 2019C Bonds subject to mandatory purchase, with a copy to the MSRB, no less than 15 days prior to the Mandatory Purchase Date. The notice shall state the Mandatory Purchase Date, the Purchase Price and that interest on 2017 Series B-1 2019C Bonds subject to mandatory purchase shall cease to accrue from and after the Mandatory Purchase Date. The failure to transmit such notice with respect to any 2017 Series B-1 2019C Bond shall not affect the validity of the mandatory purchase of any other 2017 Series B-1 2019C Bond with respect to which notice was so transmitted. Any notice transmitted as aforesaid will be conclusively presumed to have been given, whether or not actually received by any Owner. 2017 Series B-1 2019C Bonds purchased pursuant to this Section 7.5 shall be delivered by the Owners (with all necessary endorsements) to the office of the Paying Agent in Salt Lake City, UtahAgent, at or before 12:00 noon10:00 a.m., New York City timetime (11:30 a.m., New York City with respect to 2019C Bonds in the Daily Mode), on the Mandatory Purchase Date, and payment of the Purchase Price of such 2017 Series B-1 2019C Bonds shall be made by wire transfer in immediately available funds by the Paying Agent by the close of business on such Mandatory Purchase Date.