Mandatory Purchase of Bonds. (a) Any Bonds shall be subject to mandatory purchase at a purchase price equal to 100% of the principal amount thereof plus accrued interest thereon, on the dates stated below; provided that if any such date is an Interest Payment Date, the purchase price shall be equal only to the principal amount of such Bond, together with any premium payable under subsection (ii) below:
(i) As to each such Bond in a Flexible Rate Period, on the day succeeding the last day of each Flexible Segment thereof applicable to such Bond;
(ii) As to each Bond in a Daily Rate Period or Weekly Rate Period, on the effective date of change to a Rate Period other than a Daily Rate Period or a Weekly Rate Period;
(iii) As to each Auction Bond, on the effective date of change to a Rate Period other than an Auction Rate Period; and
(iv) On the Business Day prior to the Expiration Date of the Letter of Credit or Liquidity Facility; provided that in the event of a replacement of a Letter of Credit as provided in Section 5.12, such mandatory purchase shall occur on the date on which such Letter of Credit is replaced; provided that the Bonds will not be subject to mandatory purchase pursuant to Section 4.02(a)(v) if at least 25 days before the Expiration Date the Trustee has received written notice from the Liquidity Provider or the Bank, as applicable, that the Liquidity Facility or the Letter of Credit then in effect has been extended. In addition, any Bonds shall be subject to mandatory purchase on the effective date of any change from a Term Rate to a new Rate Period, including a change from one Term Rate Period to another Term Rate Period of the same duration, in each case at a purchase price equal to the redemption price that would have been payable if such Bonds were to be redeemed on the date such Bonds are to be purchased pursuant to the terms hereof, together with accrued interest, if any, thereon to the date of purchase, subject to the provisions of Section 4.04(f) hereof.
(b) Subject to Section 4.10 hereof, an Owner must deliver each such Bond subject to mandatory purchase as provided in Section 4.02(a) hereof to the Trustee, acting as Tender Agent, at its Principal Office accompanied by an instrument of transfer thereof, in form satisfactory to the Trustee, executed in blank by the Owner thereof, with the signature of such Owner guaranteed by a bank, trust company or member firm of the New York Stock Exchange at or prior to 10:00 a.m., New York time, on the purchase date in ord...
Mandatory Purchase of Bonds. The Company, at any time ---------------------------- and from time to time, shall furnish moneys to the Tender Agent accompanied by a notice directing that such moneys be applied to the purchase of Bonds to be purchased pursuant to Section 3.03 of the Indenture. Bonds so purchased shall be delivered in accordance with Section 3.06 of the Indenture.
Mandatory Purchase of Bonds. The Borrower agrees to pay or cause to be paid to the Trustee such amounts as shall be necessary to enable the Trustee to pay the Purchase Price of Bonds delivered to it for purchase, all as more particularly described in Sections 4.01, 4.02, 4.06 and 4.11 of the Indenture; provided, however, that the obligation of the Borrower to make any such payment under this Section 4.03 is intended to be discharged, first, from proceeds of the Letter of Credit and, second, from proceeds of a remarketing of Bonds, all as further set forth in Section 4.07 of the Indenture.
Mandatory Purchase of Bonds. The Company, at any time and from time to time, shall furnish moneys to the Series 1998A Tender Agent accompanied by a notice directing that such moneys be applied to the purchase of Series 1998A Bonds to be purchased upon mandatory tender for purchase pursuant to Section 3.03 of the Series 0000X Xxxxxxxxx. Series 1998A Bonds so purchased shall be delivered in accordance with Section 3.06 of the Series 0000X Xxxxxxxxx.
Mandatory Purchase of Bonds
