Mandatory Tender for Purchase. As provided below, the Bonds are subject to mandatory tender for purchase under certain circumstances. BY ACCEPTANCE OF THIS BOND, THE OWNER AGREES TO SELL AND SURRENDER THIS BOND, PROPERLY ENDORSED, UNDER THE CONDITIONS DESCRIBED BELOW. All purchases will be made in funds immediately available on the purchase date and will be at the Purchase Price. Bonds tendered for purchase on a date after a call for redemption but before the redemption date will be purchased pursuant to the tender. No purchase of Bonds shall be deemed to be a payment or redemption of the Bonds or of any portion thereof and such purchase will not operate to extinguish or discharge the indebtedness evidenced by such Bonds.
Mandatory Tender for Purchase. Each Term Rate Bond shall be subject to mandatory tender for purchase, in accordance with the terms hereof, but only upon the request of the Borrower, in whole or from time to time in part, on the Business Day immediately following a Term Rate Interest Payment Date at a price equal to the principal amount thereof, together with interest accrued and unpaid thereon. The Trustee shall give notice of any mandatory tender for purchase pursuant to this subsection (a), not less than 30 (thirty) days prior to such Mandatory Purchase Date. In the event that less than all of the Term Rate Bonds shall be subject to mandatory tender for purchase, the Term Rate Bonds (or portions of Term Rate Bonds) to be so purchased shall be selected by the Trustee by lot or in any customary manner of selection as determined by the Trustee, provided that for so long as Cede & Co., as nominee of DTC, is the registered owner, the particular Term Rate Bonds (or portions thereof) to be purchased shall be selected by DTC, in such manner as DTC may determine, from all Term Rate Bonds Outstanding. Not later than 12:00 Noon, New York City time, on the third Business Day preceding any such Mandatory Purchase Date, the Borrower shall deposit with the Trustee an amount of money sufficient to pay the aggregate tender price, including accrued and unpaid interest to such Mandatory Purchase Date, of all the Term Rate Bonds or portions thereof subject to purchase on such Mandatory Purchase Date. Each Commercial Paper Bond shall be subject to mandatory purchase on the Purchase Date for the current Interest Period applicable to such Bond at the Purchase Price. Bonds purchased pursuant to this Section 423(b) shall be delivered by the Owners (with all necessary endorsements) to the office of the Tender Agent at or before 12:00 Noon on such Purchase Date, and payment of the Purchase Price shall be made by wire transfer in immediately available funds by the close of business on such Purchase Date. No notice of such mandatory purchase shall be given to the Owners. (i) Bonds to be changed from one Mode to another Mode are subject to mandatory purchase on the Mode Change Date at the Purchase Price as provided in this paragraph (i). Bonds purchased pursuant to this paragraph shall be delivered by the Owners (with all necessary endorsements) to the office of the Tender Agent at or before 12:00 Noon on the Mode Change Date and payment of the Purchase Price shall be made by wire transfer in immediately available...
Mandatory Tender for Purchase. On each Effective Date, Bonds in the Flexible Mode are subject to mandatory tender for purchase as provided in the forms of Flexible Bonds.
Mandatory Tender for Purchase. On each Effective Date, Bonds in the Multiannual Mode are subject to mandatory tender for purchase as provided in the forms of Multiannual Bond.
Mandatory Tender for Purchase. (A) The Put Bonds are subject to mandatory tender for purchase on each Tender Date at the Purchase Price upon receipt by the Trustee from the Letter of Credit Bank of,
(i) notice of a Tender Event, directing the Trustee to purchase all Put Bonds in accordance with this Section 305(A) and establishing the Tender Date, which shall not be earlier than four (4) Business Days and not later than thirteen (13) days after the Trustee receives such notice and the items mentioned in clauses (ii), (iii) and (iv) below;
(ii) a certified copy of a ruling issued by the Treasury Department of the commonwealth containing rulings substantially to the effect set forth in Exhibit E'
(iii) an opinion of Bond Counsel as to the validity of the aforesaid rulings as of the date of the Letter of Credit Bank notice mentioned in clause (i) above and
(iv) an executed copy of the Pledge Agreement.
(B) The Trustee, no later than the Business Day after receiving the proceeds of the claim filed pursuant to Section 1403(C), shall give, by had delivery or overnight mail courier service, to each Holder on the close of business on the Tender Record Date notice that:
(i) a Tender Event has occurred,
(ii) all such Holders are required to tender their Bonds for purchase at the Purchase Price on the Tender Date,
(iii) all Bonds not so tendered will be deemed to have been tendered and purchased on the Tender Date, and
(iv) on and after the Tender Date interest on such Bonds shall cease to accrue and said Bonds shall cease to be entitled to any benefits or security under this Trust Agreement or to be deemed Outstanding and their Holders shall have no rights in respect thereof except to receive payment of the Purchase Price. Any notice given as provided in this Section shall be conclusively presumed to have been given whether or not the Holder receives the notice.
(C) All Put Bonds whether or not tendered to the Trustee as provided in subsection (B) below shall be deemed to have been tendered for purchase and purchased on each Tender Date in accordance with the terms of this Trust Agreement.
(D) The Purchase Price of the Put Bonds will be paid by the Trustee to the Bondholders on the Tender Date and on any Business Day
Mandatory Tender for Purchase. The Series 2013A Bonds shall mature on March 1, 2038 as provided in the 0000 Xxxxxxxxx and the Series 2013A Bonds; the Series 2013B Bonds shall mature on May 1, 2043 as provided in the 0000 Xxxxxxxxx and the Series 2013B Bonds; the Series 2013C Bonds shall mature on January 1, 2022 as provided in the 0000 Xxxxxxxxx and the Series 2013C Bonds; the Series 2013D Bonds shall mature on March 1, 2024 as provided in the 0000 Xxxxxxxxx and the Series 2013D Bonds; the Series 2013E Bonds shall mature on May 1, 2037 as provided in the 0000 Xxxxxxxxx and the Series 2013E Bonds; and the Series 2014B Bonds shall mature on July 1, 2025 as provided in the 0000 Xxxxxxxxx and the Series 2014B Bonds. Notwithstanding the forgoing and subsection (d) below, except for the Series 2013C Bonds, the Bonds shall be subject to mandatory tender for purchase by the Borrower on the Initial Bank Tender Date and on each other Bank Tender Date. Except for the Series 2013C Bonds, the Bonds shall be purchased by the Borrower on the Initial Bank Tender Date and on each other Bank Tender Date by delivery of the Purchase Price to the Administrative Agent. Any indemnities and other amounts payable hereunder in connection with such purchase shall also be paid on such Bank Tender Date.
(i) Section 8.2(a)(i) of the Bond Purchase and Covenants Agreement is hereby amended and restated in its entirety as follows:
(i) notify the Trustee of such Event of Default, direct the Trustee to declare an Event of Default (as defined in the 0000 Xxxxxxxxx), accelerate the Series 2013A Bonds, the Series 2013B Bonds and the Series 2013 Bonds and direct the Trustee to exercise remedies under the applicable Issuer Documents;
(j) Schedule 1.1(B) attached to the Bond Purchase and Covenants Agreement is hereby amended and restated in the form of Schedule 1.1(B) attached hereto.
Mandatory Tender for Purchase. (i) The Borrower shall fail to pay the Purchase Price of the 2015A Notes and/or the 2015B Notes to the Administrative Agent on the Initial Bank Purchase Date, or (ii) the Borrower shall fail to pay the Purchase Price of the 2015A Notes and/or the 2015B Notes to the Administrative Agent on any other Bank Purchase Date;
Mandatory Tender for Purchase. The Series 2013C Bonds shall mature on January 1, 2022 as provided in the 0000 Xxxxxxxxx and the Series 2013C Bonds, the Series 2013D Bonds shall mature on March 1, 2024 as provided in the 0000 Xxxxxxxxx and the Series 2013D Bonds, the Series 2013E Bonds shall mature on May 1, 2037 as provided in the 0000 Xxxxxxxxx and the Series 2013E Bonds, and the Series 2014B Bonds shall mature on July 1, 2025, as provided in the 0000 Xxxxxxxxx and the Series 2014B Bonds. Notwithstanding the forgoing and subsection (d) below, except for the Series 2013C Bonds, the Bonds shall be subject to mandatory tender for purchase by the Borrower on the Initial Bank Tender Date and on each other Bank Tender Date. Except for the Series 2013C Bonds, the Bonds shall be purchased by the Borrower on the Initial Bank Tender Date and on each other Bank Tender Date by delivery of the Purchase Price to the Administrative Agent. Any indemnities and other amounts payable hereunder in connection with such purchase shall also be paid on such Bank Tender Date.
Mandatory Tender for Purchase. (i) The Borrower shall fail to pay the Purchase Price of any Bonds to the Administrative Agent on the Initial Bank Tender Date, or (ii) the Borrower shall fail to pay the Purchase Price of any Bonds to the Administrative Agent on any other Bank Tender Date.
Mandatory Tender for Purchase. Upon Expiration of any Support Facility or Upon Delivery of a Credit Facility or an Alternate Support Facility. 1. Except as otherwise set forth in the last sentence of this subsection 1, on the second Business Day next preceding the date of expiration of any Support Facility or any Alternate Support Facility, the Bonds shall be subject to mandatory purchase at the Purchase Price, unless on or prior to the 35th day prior to such date of expiration the Company on behalf of the Authority has furnished to the Trustee an agreement to extend such Support Facility. The Bonds shall also be subject to mandatory purchase at the Purchase Price, on the date there is delivered a Credit Facility or an Alternate Support Facility meeting the requirements of Section 6.02. No tender for purchase of any Bonds shall be required pursuant to this Section 5.08 during an Auction Rate Period or a Fixed Rate Period.
