Mandatory Sinking Fund Prepayment. The Certificates maturing on July 1, 20 shall be subject to mandatory prepayment prior to maturity, in part, from payments of the principal portion of Basic Rent Payments on each July 1 in the years and in the amounts set forth below at a Prepayment Price of par plus interest accrued to the Payment Date: Year (July 1) * *Maturity The Certificates shall not be subject to extraordinary prepayment prior to maturity. The undersigned, _ (the "Representative"), as representative of itself and the other underwriters listed in the Purchase Contract (collectively, the "Underwriters") proposes to negotiate with the School Board of Sarasota County, Florida, for the sale of $ _ aggregate principal amount of Certificates of Participation (School Board of Sarasota County, Florida Master Lease Program), Series 2009 (the "Certificates"), to be completed on this date. Prior to the award of the Certificates, the following information is hereby furnished to the Board:
Mandatory Sinking Fund Prepayment. The Certificates maturing 1, 20 are subject to mandatory prepayment prior to their maturity at a Prepayment Price equal to the principal amount to be redeemed plus accrued interest thereon to the prepayment date on 1, 20 in the principal amounts and on the scheduled mandatory prepayment dates as follows: Date ([ ] 1) Sinking Fund Prepayment Amount $ (maturity) $[ ] MONO COUNTY
Mandatory Sinking Fund Prepayment. The Certificates maturing on October 1 in each of the years and are also subject to mandatory sinking fund prepayment by lot on October 1 in each year as shown in the following tables, from the principal components of the Installment Payments required to be paid with respect to each of such dates, at a prepayment price equal to 100% of the principal amount to be prepaid, together with accrued interest represented thereby to the prepayment date, without premium, as follows: Prepayment Date (October 1) Prepayment Date (October 1) Notwithstanding the foregoing provisions of this subsection (b), if some but not all of the Term Certificates of any maturity have been prepaid under any of the preceding provisions of this Section 4.01, the aggregate principal amount of such Term Certificates to be prepaid in each year thereafter under this subsection (b) will be reduced by the aggregate principal amount of such Term Certificates so prepaid, to be allocated among maturities in integral multiples of $5,000 such that the resulting amount of principal represented by the Term Certificates subject to prepayment on any date under this subsection (b) is not less than the aggregate principal components of the Installment Payments coming due and payable on such date.
Mandatory Sinking Fund Prepayment. The Certificates evidencing principal maturing on July 1, 20 , are subject to prepayment prior to maturity from mandatory sinking fund prepayments of the principal component of Lease Payments, on July 1 of each year on and after July 1, 20 , at a prepayment price equal to the principal amount thereof, plus accrued interest to the date fixed for prepayment, without premium. The principal component of such Lease Payments to be so prepaid and the dates therefor and the final payment date is as indicated in the following table: Year Ending July 1 Principal Component To Be Prepaid Total:
(1) Maturity.
Mandatory Sinking Fund Prepayment. The Series 2020A Certificates maturing on July 1, 20 are subject to mandatory prepayment prior to maturity in part, from payments of the principal portion of Basic Lease Payments as set forth in the Series 2020A Leases, through the operation of a sinking fund on each July 1 in the years and in the amounts set forth below at a Prepayment Price of par plus the interest accrued to the Prepayment Date.
Mandatory Sinking Fund Prepayment. Series 2014A Certificates are subject to mandatory prepayment prior to maturity in part from payments of the Series 2014A Principal as set forth in the Series 2004 Lease, through the operation of a sinking fund on each July 1 in the years and in the amounts set forth below at a Prepayment Price of par plus the interest accrued to the Prepayment Date; provided, however, while a Letter of Credit is in effect, mandatory prepayments shall be paid first from a draw on the Letter of Credit. 2020 $ 3,925,000 2021 10,350,000 2022 10,775,000 2023 11,200,000 2024 11,675,000 2025 12,150,000 2026 12,600,000 2027 13,175,000 2028 13,700,000 2029* 14,275,000 * Final Maturity With respect to ARS, mandatory sinking fund prepayments scheduled to occur during an Auction Period shall be made on the ARS Interest Payment Date immediately succeeding the Auction Period during which such scheduled sinking fund prepayment would otherwise have occurred; provided, however, if this Series 2014A Supplemental Trust Agreement is modified to provide for an Auction Period of 180 days or more, mandatory sinking fund prepayments scheduled to occur during such Auction Period of 180 days or more shall occur on the scheduled sinking fund Prepayment Date. The Trustee shall provide notice to the Auction Agent and the Broker-Dealers of mandatory sinking fund prepayments which occur with respect to ARS. Any Series 2014A Certificate subject to mandatory prepayment as provided herein may be purchased by the School Board (if the Certificate holder is willing to sell) prior to the forty- fifth (45th) day preceding the respective Prepayment Date at a price (including any brokerage and other charges) not exceeding the principal portion represented thereby, plus accrued interest to the date of purchase. At its option, to be exercised on or before the forty-fifth (45th) day next preceding any such applicable Prepayment Date, the School Board may receive a credit against its mandatory prepayment obligation for the applicable Series 2014A Certificates which prior to such date have been (i) purchased by the School Board and presented to the Trustee for cancellation or (ii) prepaid (otherwise than through the operation of the sinking fund) and canceled by the Trustee and not theretofore applied as a credit against any sinking fund prepayment obligation. Each Series 2014A Certificate so purchased, delivered or previously prepaid and cancelled shall be credited by the Trustee at 100% of the principal portion rep...
Mandatory Sinking Fund Prepayment. The Trustee, from amounts received from or on behalf of the Town, will prepay 2005 Certificates
(1) pay to the Trustee for deposit in the Prepayment Account such amount as the Town may determine, accompanied by a certificate signed by a Town Representative directing the Trustee to apply such amount to the purchase of Certificates required to the prepaid on such sinking fund payment date; the Trustee must thereupon use all reasonable efforts to expend the greatest portion of such funds as may be practicable in the purchase of such Certificates at a price not exceeding the principal amount thereof plus accrued interest to the purchase date; or
(2) deliver to the Trustee for cancellation Term Certificates required to be prepaid on such sinking fund payment date in any aggregate principal amount desired; or
(3) instruct the Trustee to apply a credit against the Town's sinking fund payment obligation for any such Term Certificates that previously have been prepaid (other than through the operation of the sinking fund requirements) and canceled by the Trustee but not previously applied as a credit against any sinking fund payment obligation. The Trustee will credit against the Town's sinking fund payment obligation on such sinking fund payment date the amount of such Certificates so purchased, delivered or previously prepaid as described in paragraphs (1), (2) or (3) above. Within seven days of receipt of such amount, Term Certificates or instruction to apply as a credit (as described in paragraphs (1), (2) and (3) above), any amounts remaining in the Principal Account in excess of the amount required to fulfill the remaining required sinking fund prepayment obligation on the next sinking fund payment date will, as directed by a Town Representative, either be (A) transferred to the Interest Account or (B) used to prepay Certificates as soon as practicable. Any funds received by the Trustee pursuant to paragraph (1) above but not expended as provided therein for the purchase of Certificates within twenty days after such 70th day will be transferred to the Principal Account to the extent the amounts in the Principal Account are insufficient to fulfill the required payment on the next principal or sinking fund payment date. To the extent amounts in the Principal Account are not so insufficient, the Trustee will, as directed by a Town Representative, either (A) transfer such funds to the Interest Account or (B) use the funds to prepay Certificates as soon as practic...
Mandatory Sinking Fund Prepayment. The Certificates maturing on February 1, 20__, shall be subject to mandatory sinking fund prepayment prior to maturity at a prepayment price equal to the Principal Component of the Certificates to be prepaid, plus accrued interest with respect thereto to the prepayment date, on February 1 of each year, commencing February 1, 20__, in the Principal Components and on the prepayment dates as follows: 20__ $ 20__ 20__ 20__ 20__† † Maturity. The Certificates maturing on February 1, 20__, shall be subject to mandatory sinking fund prepayment prior to maturity at a prepayment price equal to the Principal Component of the Certificates to be prepaid, plus accrued interest with respect thereto to the prepayment date, on February 1 of each year, commencing February 1, 20__, in the Principal Components and on the prepayment dates as follows: 20__ $ 20__ 20__ 20__ 20__† † Maturity.
Mandatory Sinking Fund Prepayment. The Series 2015A Certificates are subject to mandatory prepayment prior to maturity in part, from a portion of the payments of the principal portion of Basic Lease Payments as set forth in the Series 1994B Lease, through the operation of a sinking fund on each July 1 in the years and in the amounts set forth below at a Prepayment Price of par plus the interest accrued to the Prepayment Date. 2016 $1,990,000 2017 2,050,000 2018 2,105,000 2019 2,165,000 2020 2,220,000 2021* 2,280,000 THE OBLIGATION OF THE SCHOOL BOARD TO MAKE BASIC LEASE PAYMENTS UNDER THE SERIES 1994B LEASE IS A LIMITED OBLIGATION, SUBJECT TO ANNUAL APPROPRIATION BY THE SCHOOL BOARD, AS FURTHER PROVIDED IN THIS CERTIFICATE. IT IS HEREBY CERTIFIED, RECITED AND DECLARED that all acts, conditions and things required by the Constitution and laws of the State of Florida and the Trust Agreement to exist, to have happened and to have been performed precedent to and in connection with the execution and delivery of this Certificate have happened and have been performed in due time, form and manner as required by law.
Mandatory Sinking Fund Prepayment. The Term Obligations, upon notice as hereinafter provided, shall also be subject to mandatory sinking fund Prepayment prior to maturity, in part on June 1 of each year on the Mandatory Sinking Account Payment Dates, randomly by lot, from and in the amount of the mandatory sinking account payments set forth in the Supplemental Trust Agreement pursuant to which series Obligations are executed and delivered at a Prepayment price equal to the sum of the principal amount thereof plus accrued interest thereon to the Prepayment date, without premium.
