Mandatory Sinking Funds Sample Clauses

Mandatory Sinking Funds. § 11.01. [Reserved.] § 11.02. [Provisions governing maintenance of Sinking Funds for specific series of Bonds.] The Company will maintain one or more Mandatory Sinking Funds for such of the several series of Bonds as may be entitled thereto under the supplement creating such Bonds to be applied as provided in such supplement, and for that purpose will pay to the Trustee on the respective dates (a “Mandatory Sinking Fund Payment Date”) and in the respective amounts specified in the supplement creating such Bonds (a “Mandatory Sinking Fund Payment”), cash to be applied as provided in the supplement creating such Bonds for the redemption of Bonds of such series plus the amount then payable pursuant to § 11.03, provided that nothing in this § 11.02 shall be deemed to require the Company to pay to the Trustee at any time in respect of principal of any series of Bonds then outstanding a sum greater than the then unpaid principal amount of such series of Bonds. Except as expressly provided in this Indenture, the Company shall not be entitled to increase, or to anticipate, any payment in satisfaction of its obligations in respect of Mandatory Sinking Funds. The Company shall, however, have the right, at its option, (unless expressly negated in the supplemental Indenture creating the particular series of Bonds) to satisfy any obligation in respect of the Mandatory Sinking Fund for any series of Bonds on any Mandatory Sinking Fund Payment Date in whole or in part by delivering to the Trustee not earlier than ninety (90) days prior to such Mandatory Sinking Fund Payment Date and not later than forty (40) days prior thereto, any Bonds of such series theretofore authenticated and delivered hereunder and not previously cancelled or called for redemption and the Trustee shall credit the obligation of the Company in respect of such Mandatory Sinking Fund on such Mandatory Sinking Fund Payment Date with a payment equal to the principal amount of the Bonds of such series so delivered. Any Bonds so delivered shall be accompanied by a Written Order of the Company instructing the Trustee to credit such Mandatory Sinking Fund Payment as aforesaid.