Obligation to Prepay. The Company covenants and agrees that if all or any part of the Bonds are unconditionally called for redemption in accordance with the Indenture or become subject to mandatory redemption, it will prepay the indebtedness hereunder in whole or in part, prior to the date on which notice of such redemption is given to the owners of such Bonds, in an amount sufficient to redeem such Bonds on the date fixed for the redemption of the Bonds.
Obligation to Prepay. 19 Section 8.04.
Obligation to Prepay. (a) The Company shall be obligated to prepay in whole or in part the amounts payable hereunder upon a Determination of Taxability (as defined below) giving rise to a mandatory redemption of the Bonds pursuant to Section 4.03 of the Indenture, by paying an amount equal to, when added to other funds on deposit in the Bond Fund, the aggregate principal amount of the Bonds to be redeemed pursuant to the Indenture plus accrued interest to the redemption date.
(b) The Company shall cause a mandatory redemption to occur within 180 days after a Determination of Taxability (as defined below) shall have occurred. A “Determination of Taxability” shall be deemed to have occurred if, as a result of the failure of the Company to observe any covenant, agreement or representation in this Agreement, a final decree or judgment of any federal court or a final action of the Internal Revenue Service determines that interest paid or payable on any Bond is or was includible in the gross income of an Owner of the Bonds for federal income tax purposes under the Code (other than an Owner who is a “substantial user” or “related person” within the meaning of Section 103(b)(13) of the 1954 Code). However, no such decree or action will be considered final for this purpose unless the Company has been given written notice of the same, either directly or in the name of any Owner of a Bond, and, if it so desires and is legally allowed, has been afforded the opportunity to contest the same, either directly or in the name of any Owner of a Bond, and until conclusion of any appellate review, if sought. If the Trustee receives written notice from any Owner of a Bond stating (a) that the Owner has been notified in writing by the Internal Revenue Service that it proposes to include the interest on any Bond in the gross income of such Owner for the reasons described therein or any other proceeding has been instituted against such Owner which may lead to a final decree or action as described herein, and (b) that such Owner will afford the Company the opportunity to contest the same, either directly or in the name of the Owner, until a conclusion of any appellate review, if sought, then the Trustee shall promptly give notice thereof to the Company, the Issuer, the Provider and the Owner of each Bond then Outstanding. If a final decree or action as described above thereafter occurs and the Trustee has received written notice thereof as provided in Section 8.01 hereof at least 45 days prior to the re...
Obligation to Prepay. The Borrower shall be obligated to prepay amounts due hereunder, in whole or in part, to provide for the redemption of Bonds in whole or in part pursuant to the provisions of Section 3.01(B) of the Indenture. In the case of any of the events stated in Section 3.01(B) of the Indenture, the Borrower must satisfy its obligation by prepaying within 180 days after such event.
Obligation to Prepay. (a) The Company shall be obligated to prepay in whole or in part the amounts payable hereunder upon a Determination of Taxability (as defined below) giving rise to a mandatory redemption of the Bonds pursuant to Section 4.03 of the Indenture, by paying an amount equal to, when added to other funds on deposit in the Bond Fund, the aggregate principal amount of the Bonds to be redeemed pursuant to the Indenture plus accrued interest to the redemption date.
(b) The Company shall cause a mandatory redemption to occur within 180 days after a Determination of Taxability (as defined below) shall have occurred. A "Determination of Taxability" shall be deemed to have occurred if, as a result of the failure of the Company to observe any covenant, agreement or representation in this Agreement, a final decree or judgment of any federal court or a final action of the Internal Revenue Service determines that interest paid or payable on any Bond is or was includible in the gross income of an Owner of the Bonds for federal income tax purposes under the Code (other than an Owner who is a "substantial user" or "related person" within the meaning of Section 103(b)(13) of the 1954 Code). However, no such decree or action will be considered final for this purpose unless the Company has been given written notice of the same, either directly or in the name of any Owner of a Bond, and, if it so
Obligation to Prepay. In the event the Bonds or portions thereof become subject to special mandatory redemption pursuant to Section 501(c) of the Indenture, the Company covenants and agrees to prepay the amounts due and to become due hereunder in an amount sufficient to redeem such Bonds or portions thereof on the applicable redemption dates of the Bonds, which redemption shall occur not later than 180 days after the occurrence of a Determination of Taxability.
Obligation to Prepay. Section 7.3. Notice of Prepayment; Amount to Be Prepaid....................... 20 Section 7.4. Cancellation at Expiration of Term............................... 21 ARTICLE VIII MISCELLANEOUS.................................................... 21
Obligation to Prepay. The Borrowers agree to prepay the whole of the Loan in accordance with this sub-Clause.
Obligation to Prepay. The Borrower shall be obligated to prepay in whole or in part the amounts payable hereunder as to the Bonds (or any Additional Bonds) (i) upon a determination of taxability (as described in Section 6 of the form of Bonds in the Indenture under the caption, "Special Mandatory Redemption") or (ii) (a) the Borrower has ceased to operate the Project or has caused the Project to be operated as an unauthorized project under the Act for twelve (12) consecutive months without first obtaining the written consent of the Authority, or (b) any representation or warranty of the Borrower in this Loan Agreement or in any other document furnished in connection with this Loan Agreement proves to have been false or misleading in any material respect when made, by paying an amount equal to, when added to other funds on deposit in the Bond Fund, (x) the aggregate principal amount of the Bonds Outstanding, plus accrued interest to the prepayment date plus any premium due upon redemption, plus (y) an amount of money equal to the Trustees fees and expenses under the Indenture accrued and to accrue until such redemption of such Bonds and any other amounts payable under the Indenture, plus (z) an amount of money equal to all sums due to the Authority under this Loan Agreement. At the time of any such prepayment of the amounts payable hereunder pursuant to this Section, the prepayment amount shall be applied, together with other Available Moneys in the Bond Fund, to the redemption of the Bonds on the date specified in the notice as provided in the Indenture, whether or not such date is an Interest Payment Date, to the Trustee’s fees and expenses under the Indenture accrued to such redemption of the Bonds, and to all sums due to the Authority under this Loan Agreement. 1011002.2