Mandatory Tenders. All 2010 Bonds of a Series shall be subject to mandatory tender at a purchase price equal to the principal amount thereof, plus accrued interest, on the following Mandatory Tender Dates and under the circumstances as follows:
(1) on any Conversion Date for such Series;
(2) on any date the Agency delivers an Alternate Credit Facility for such Series;
(3) on the tenth (10th) day (or if such day is not a Business Day, on the immediately preceding Business Day) following receipt by the Fiscal Agent of written notice from a Credit Provider stating that either (a) an event of default has occurred under and as defined in the related Reimbursement Agreement and requesting that the related 2010 Bonds be purchased pursuant to this Section 4.06(d), or (b) the stated interest portion of such Credit Facility has not been reinstated to the full stated amount thereof following a draw thereon to pay interest on such 2010 Bonds;
(4) on the last Business Day which is not less than ten (10) days before the Stated Expiration Date of a Credit Facility with respect to a Series of 2010 Bonds if an Alternate Credit Facility is not delivered to the Fiscal Agent at least twenty-five (25) days before such Stated Expiration Date; and
(5) on the Initial Period Tender Date (and/or any other date agreed to by the Agency and the Bank Bond Holder in writing, including but not limited to in a supplement or amendment to the Continuing Covenant Agreement). Neither the Bondholders nor the Beneficial Owners shall in any of such events, have any right to elect to retain such 2010 Bonds. The applicable Remarketing Agent shall offer for sale and use its best efforts to find purchasers for the 2010 Bonds subject to mandatory tender pursuant to clauses (1), (2) and (3) above; provided that any such remarketing following mandatory tender pursuant to clause (3) above shall be undertaken only with the consent of the related Credit Provider. The terms of any sale by a Remarketing Agent shall provide for the payment of the purchase price of the tendered 2010 Bonds by such Remarketing Agent to the Tender Agent in immediately available funds at or before 10:30 a.m., New York City time, on the relevant purchase date. Notice of a mandatory tender shall be given as set forth in Section 2.03(h)(iii) and Section 4.06(J) of this Fiscal Agent Agreement, except that with respect
Mandatory Tenders. (a) Holders of Bonds shall be required to tender their Bonds to the Trustee on any Mandatory Tender Date. Any Bond required to be tendered on a Mandatory Tender Date that is not tendered as of such date shall be deemed to have been tendered to the Trustee on such date and shall thereafter cease to bear interest and no longer be considered to be Outstanding hereunder subject to the right of the Holders of such Bonds to receive the Purchase Price of such Bonds and interest accrued thereon to the Bond Purchase Date.
(b) At least 25 days prior to any Mandatory Tender Date pursuant to this Section 5.2, the Trustee shall notify the Remarketing Agent and the Holders of all Outstanding Bonds by first-class mail of the Mandatory Tender Date and advise the Holders that all Bonds shall be subject to mandatory tender on such Mandatory Tender Date from the sources available pursuant to Section 5.3, at a Purchase Price equal to the principal amount thereof plus accrued interest, if any.
Mandatory Tenders. The Holder of each Bond shall be required to tender such Bond to the Trustee or Tender Agent for purchase on the following dates (each such date being herein called a "Mandatory Tender Date"):
Mandatory Tenders. Subject to the provisions of subsection (c) of this Section, the Holder of each Bond shall be required to tender such Bond to the Tender Agent for purchase on (i) each Proposed Conversion Date, and (ii) the first day of the calendar month in which the Stated Expiration Date of the Letter of Credit occurs; or, if any of such dates is not a Business Day, the next succeeding Business Day (each such date, a "Mandatory Tender Date"), all as more fully provided in this Section.
Mandatory Tenders. (a) The Holder of each Bond shall be required to tender such Bond to the Tender Agent for purchase on (i) each Proposed Conversion Date, (ii) each date immediately following the expiration of a Yearly Fixed Rate Period that is not a Proposed Conversion Date, (iii) each proposed Letter of Credit Substitution Date, (iv) the first day of the calendar month in which the Stated Termination Date of the Letter of Credit occurs, and (v) the date specified by the Bank pursuant to Section 6011g) hereof by reason of a default under the Tax-Exempt Credit Agreement; or, if any of such dates is not a Business Day, the next succeeding Business Day (each such date, a “Mandatory Tender Date”), all as more fully provided in this Section.
Mandatory Tenders. This Bond is subject to mandatory tender for purchase by or on behalf of the Company on the effective date of (i) a conversion from one Rate Period to a different Rate Period (except for changes between a Daily Rate Period and a Weekly Rate Period) or from a Term Rate Period to a Term Rate Period of a different duration and (ii) a change from one Taxable or Flexible Rate Period to another Taxable or Flexible Rate Period; provided that payment of principal or redemption price shall only be made upon presentation and surrender at the principal corporate trust office of the Paying Agent. Interest on any Bond which is not tendered on the mandatory tender date but for which there has been deposited with the Paying Agent an amount sufficient to pay the purchase price thereof shall cease to accrue on the mandatory tender date and such Bond shall be deemed purchased on the date fixed for purchase thereof and the registered owner of such Bond shall not be entitled to any payment other than the purchase price and such Bond shall no longer be outstanding and entitled to the benefits of the Indenture except for the payment of the purchase price of such Bond from monies held by the Paying Agent for such payment. On the mandatory tender date the Paying Agent shall authenticate and deliver substitute Bonds in lieu of such untendered Bonds.
Mandatory Tenders. While this Bond accrues interest at a Commercial Paper Rate, this Bond is subject to mandatory tender on each Interest Payment Date applicable to this Bond at a Purchase Price equal to 100% of the principal amount thereof plus interest accrued during the Commercial Paper Rate Period. This Bond is subject to mandatory tender on the effective date of a change from one Rate Period to a different Rate Period (except for changes between a Daily Rate and Weekly Rate) at a Purchase Price equal to the principal amount thereof plus accrued interest; provided that the Purchase Price for Bonds converted from a Multiannual Rate Period on a date when such Bonds are also subject to optional redemption at a premium shall include an amount equal to the premium that would be payable if such Bonds were redeemed on such date. The Bonds are subject to mandatory tender for purchase (i) on the Interest Payment Date which is at least two (2) Business Days next preceding the Expiration Date of the current Letter of Credit unless at least 25 days (or such shorter period as shall be acceptable to the Trustee, but in no event shorter than 15 days) prior to such Interest Payment Date the Trustee has received notice that the Letter of Credit has been extended, and (ii) on any Interest Payment Date on which the current Letter of Credit is replaced with an Alternate Credit Facility pursuant to the Indenture, in each case at a Purchase Price equal to 100% of the principal amount thereof plus accrued interest, plus the premium, if any, which would be payable if the Bonds were redeemed on the mandatory tender date. BY ACCEPTANCE OF THIS BOND, THE REGISTERED OWNER HEREOF AGREES THAT THIS BOND WILL BE PURCHASED, WHETHER OR NOT SURRENDERED, ON THE PURCHASE DATE AS DESCRIBED ABOVE. IN SUCH EVENT, THE REGISTERED OWNER OF THIS BOND SHALL NOT BE ENTITLED TO RECEIVE ANY FURTHER INTEREST HEREON, SHALL HAVE NO FURTHER RIGHTS UNDER THIS BOND OR THE INDENTURE EXCEPT TO RECEIVE PAYMENT OF THE PURCHASE PRICE HELD THEREFOR, AND SHALL THEREAFTER HOLD THIS BOND AS AGENT FOR THE PAYING AGENT. Written Notice of Rate Period Change The Trustee shall give notice, by first class mail, to the Registered Owners of all Bonds to be converted to a new Rate Period of the proposed conversion from one Rate Period to another Rate Period at least 15 days before the proposed Conversion Date while the Bonds accrue interest at Commercial Paper, Daily or Weekly Rates, and at least 30 days before the proposed Conversion Date w...
Mandatory Tenders. 21 Section 2.05. Form of Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Mandatory Tenders. The Bonds are subject to mandatory tender in whole (except as provided in (b) below) by the Bondholders to the Tender Agent at its Principal Office on each date described below:
(a) On each Conversion Date (provided that, in the event less than all of the Bonds are being converted from the CP Rate Mode to the Weekly Rate Mode as described in this Indenture, only the Bonds being converted shall be subject to mandatory tender);
(b) On each CP Rate Reset Date with respect to any Bond (provided that only those Bonds whose interest rates are being reset on such date shall be subject to mandatory tender);
(c) On the second Business Day prior to the release, expiration or termination of the Letter of Credit, if the Trustee has not received evidence satisfactory to it as required by Section 5.03(b) hereof by the 25th day preceding the scheduled Letter of Credit release, expiration or termination date of either an extension of the then existing Letter of Credit or the issuance of an Alternate Credit Facility meeting the requirements set forth therefor in the Agreement, including the Maintenance of Rating requirement (as defined in Section 5.03(b) of this Indenture);
(d) On the date of substitution of an Alternate Credit Facility for the then existing Letter of Credit supporting payment of such Bonds if the Trustee has not received evidence of a Maintenance of Rating (as defined in Section 5.03 hereof) with respect thereto by the 25th day preceding the date of substitution of the Alternate Credit Facility;
(e) On each optional redemption date pursuant to Section 3.01 hereof for which the Company has elected to purchase Bonds in lieu of an optional redemption pursuant to Section 3.01(c) hereof; and
(f) On any date on which the Guaranty is released as provided in Section 9.05
Mandatory Tenders. (a) The Holder of each Bond shall be required to tender such Bond to the Tender Agent for purchase on (i) each Proposed Conversion Date, (ii) each date immediately following the expiration of a Yearly Fixed Rate Period that is not a Proposed Conversion Date, (iii) the first day of the calendar month in which the Stated Termination Date of the Letter of Credit occurs, and (iv) the date specified by the Bank pursuant to Section 601(g) hereof by reason of a default under the Credit Agreement; or, if any of such dates is not a Business Day, the next succeeding Business Day (each such date, a "Mandatory Tender Date"), all as more fully provided in this Section.
