Mortgage Repayments and Prepayments and Excess Revenues. The 2024 Series D Bonds, other than the Premium Serial Bonds, are subject to redemption prior to their respective stated maturities as a whole or in part at a Redemption Price equal to the principal amount thereof plus accrued interest, if any, thereon to the date of redemption, without premium, on any date, from Revenues of the 2024 Series D Mortgage Loans and excess funds deposited in the 2024 Series D subaccount of the Class I Special Redemption Account pursuant to Section 5.5(d) of the Master Indenture. Moneys deposited in or transferred to the 2024 Series D subaccount of the Class I Special Redemption Account shall be applied to redeem 2024 Series D Bonds as follows: FIRST: such amounts shall be applied to redeem the PAC Bonds until the Aggregate Principal Amount of the Outstanding PAC Bonds is not less than the amounts shown in the column entitled 50% SIFMA Outstanding Balance of PAC Bonds” (the “50% SIFMA Outstanding Balance”) for the applicable semiannual period as set forth in the table below; SECOND: after applying the amounts as described in clause FIRST above, any remaining amounts shall be applied to the redemption of 2024 Series D Bonds, other than the PAC Bonds and the Premium Serial Bonds, of such maturities and in such amounts as directed by the Authority (or, in the absence of such direction, on a pro rata by maturity basis) until the Aggregate Principal Amount of the 2024 Series D Bonds Outstanding is not less than the amount shown in the column “500% SIFMA Outstanding Balance of 2024 Series D Bonds” (the “500% SIFMA Outstanding Balance”) for the applicable semiannual period as set forth in the table below; and THIRD: after applying the amounts as described in clauses FIRST and SECOND above, any remaining amounts may be applied to the redemption of 2024 Series D Bonds (other than the Premium Serial Bonds) including the PAC Bonds; provided that the percentage of such remaining amounts so applied to redeem PAC Bonds may not exceed the ratio of the Aggregate Principal Amount of Outstanding PAC Bonds to the Aggregate Principal Amount of Outstanding 2024 Series D Bonds prior to such redemption. Such redemptions may occur at such times and with such frequency as the Authority elects; provided that any redemptions described in clause FIRST above must occur at least once during each semiannual period commencing with the semiannual period ending on November 1, 2025 to the extent moneys in the 2024 Series D subaccount of the Class I Special Redemp...
Mortgage Repayments and Prepayments and Excess Revenues. The 2024 Series C Bonds, other than the Premium Offered Bonds, are subject to redemption prior to their respective stated maturities as a whole or in part at a Redemption Price equal to the principal amount thereof plus accrued interest, if any, thereon to the date of redemption, without premium, on any date, from Revenues of the 2024 Series C Mortgage Loans and excess funds deposited in the 2024 Series C subaccount of the Class I Special Redemption Account pursuant to Section 5.5(d) of the Master Indenture.
Mortgage Repayments and Prepayments and Excess Revenues. The 2018 Series D Bonds are subject to redemption prior to their respective stated maturities as a whole or in part at a Redemption Price equal to the principal amount thereof plus accrued interest, if any, thereon to the date of redemption, without premium, on any date, from amounts deposited in the 2018 Series D subaccount of the Class I Redemption Account pursuant to Section 5.5(d) of the Master Indenture. Prior to each special redemption date for the 2018 Series D Bonds, the Trustee shall notify the Paying Agent and Bond Registrar of the estimated amounts of moneys available for special redemption in order to allow the Bond Registrar sufficient time to select Bonds for redemption and to mail redemption notices within the time periods required by the Indenture. Optional Redemption of 2018 Series D Bonds. The 2018 Series D Bonds maturing on and after [May 1, 2028] shall be subject to redemption prior to maturity at the option of the Authority, from any source, on any day on or after [November 1, 2027] in whole or in part, in Authorized Denominations at a Redemption Price equal to 100% of the principal amount thereof plus accrued interest thereon to the date of redemption.
