Optional Redemption by Issuer. The Issuer may, at its option, redeem the Transition Bonds of a Series, in whole or from time to time in part, as permitted by the related Series Supplement on any Redemption Date at a price specified in such Series Supplement (such price being called the "Redemption Price") plus interest accrued on the Transition Bonds to be redeemed to such Redemption Date. If the Issuer shall elect to redeem the Transition Bonds of a Series pursuant to this Section 10.01, it shall furnish notice of such election to the Bond Trustee not later than 25 days prior to the Redemption Date for such redemption and shall deposit with the Bond Trustee the Redemption Price of the Transition Bonds to be redeemed plus interest accrued thereon to such Redemption Date on or prior to such Redemption Date whereupon all such Transition Bonds shall be due and payable on such Redemption Date upon the furnishing of a notice complying with Section 10.03 hereof to each Holder of the Transition Bonds of such Series pursuant to this Section 10.01.
Appears in 4 contracts
Samples: Indenture (Peco Energy Transition Trust), Indenture (Peco Energy Transition Trust), Indenture (Peco Energy Transition Trust)
Optional Redemption by Issuer. The If so provided in the related Series Supplement and provided that there is no Interest Rate Swap Agreement with respect to any Class of that Series in effect, the Issuer may, at its option, redeem all, but not less than all, of the Transition Securitization Bonds of a Series, in whole or from time to time in part, as permitted by the related Series Supplement on any Payment Date if, after giving effect to payments that would otherwise be made on such Payment Date, the Outstanding Amount of any such Series of Securitization Bonds has been reduced to less than five percent (5%) of the initial principal balance of such Series. The redemption price in any case shall be equal to the outstanding principal amount of the Bonds to be redeemed plus accrued and unpaid interest thereon at the Interest Rate to the Redemption Date at a price specified in such Series Supplement (such price being called the "Redemption Price") plus interest accrued on the Transition Bonds to be redeemed to such Redemption Date). If the Issuer shall elect elects to redeem the Transition Securitization Bonds of a Series pursuant to this Section 10.01, it shall furnish notice of such election to (a) the Bond Trustee Trustee, not later than 25 twenty-five (25) days prior to the Redemption Date for such redemption and shall deposit with (b) to the Bond Trustee the Redemption Price of the Transition Bonds to be redeemed plus interest accrued thereon to such Redemption Date on or Rating Agencies, not later than ten (10) days prior to such Redemption Date Date, whereupon all such Transition Securitization Bonds shall be due and payable on such Redemption Date upon the furnishing of a notice complying with Section 10.03 hereof to each Holder of the Transition Securitization Bonds of such Series pursuant to this Section 10.01.
Appears in 3 contracts
Samples: Indenture (Consumers Funding LLC), Indenture (Consumers Funding LLC), Indenture (Consumers Energy Co Financing V)
Optional Redemption by Issuer. The Issuer may, at its option, redeem all, but not less than all, of the Transition Bonds of a Series, in whole or from time to time in part, as permitted by the related Series Supplement on any Redemption Payment Date if, after giving effect to payments that would otherwise be made on such Payment Date, the Outstanding Amount has been reduced to less than five percent of the initial principal balance thereof at a price specified in such Series Supplement equal to the outstanding principal amount of the Bonds to be redeemed plus accrued and unpaid interest thereon at the Bond Interest Rate to the Optional Redemption Date (such price being called the "Optional Redemption Price") plus interest accrued on the Transition Bonds to be redeemed to such Redemption Date). If the Issuer shall elect to redeem the Transition Bonds of a Series pursuant to this Section 10.01, it shall furnish written notice (which notice shall state all items listed in Section 10.02) of such election to the Bond Trustee and the Rating Agencies not later than 25 days prior to the Optional Redemption Date for such redemption and shall deposit with the Bond Trustee not later than one Business Day prior to the Optional Redemption Date the Optional Redemption Price of the Transition Bonds to be redeemed plus interest accrued thereon to such Redemption Date on or prior to such Redemption Date whereupon all such Transition Bonds shall be due and payable on such the Optional Redemption Date upon the furnishing of a notice complying with Section 10.03 hereof 10.02 to each Holder of the Transition Bonds of such Series pursuant to this Section 10.01.
Appears in 2 contracts
Samples: Indenture (PSNH Funding LLC), Indenture (PSNH Funding LLC 2)
Optional Redemption by Issuer. The Issuer If so provided in the related Series Supplement and provided that there is no Interest Rate Swap Agreement with respect to any Class of that Series in effect, theIssuer may, at its option, redeem all, but not less than all, of the Transition Bonds of a Series, in whole or from time to time in part, as permitted by the related Series Supplement on any Payment Date if, after giving effect to payments that would otherwise be made on such Payment Date, the Outstanding Amount of any such Series of Transition Bonds has been reduced to less than five percent (5%) of the initial principal balance of such Series. The redemption price in any case shall be equal to the outstanding principal amount of the Bonds to be redeemed plus accrued and unpaid interest thereon at the Interest Rate to the Redemption Date at a price specified in such Series Supplement (such price being called the "Redemption Price") plus interest accrued on the Transition Bonds to be redeemed to such Redemption Date). If the Issuer shall elect elects to redeem the Transition Bonds of a Series pursuant to this Section 10.01, it shall furnish notice of such election to (a) the Bond Trustee Trustee, not later than 25 twenty-five (25) days prior to the Redemption Date for such redemption and shall deposit with (b) to the Bond Trustee the Redemption Price of the Transition Bonds to be redeemed plus interest accrued thereon to such Redemption Date on or Rating Agencies, not later than ten (10) days prior to such Redemption Date Date, whereupon all such Transition Bonds shall be due and payable on such Redemption Date upon the furnishing of a notice complying with Section 10.03 hereof to each Holder of the Transition Bonds of such Series pursuant to this Section 10.01.
Appears in 1 contract
Optional Redemption by Issuer. The If so provided in the related Series Supplement, the Issuer may, at its option, redeem the all, but not less than all, of all Transition Bonds of a Series, in whole or from time to time in part, as permitted by the related Series Supplement on any Payment Date if, after giving effect to payments that would otherwise be made on such Payment Date, the Outstanding Amount of any such Series of Transition Bonds has been reduced to less than five percent of the initial principal balance of such Series. The redemption price in any case shall be equal to the outstanding principal amount of the Bonds to be redeemed plus accrued and unpaid interest thereon at the Bond Rate to, but excluding, the Redemption Date at a price specified in such Series Supplement (such price being called the "Redemption Price") plus interest accrued on the Transition Bonds to be redeemed to such Redemption Date). If the ---------------- Issuer shall elect elects to redeem the Transition Bonds of a Series pursuant to this Section 10.01, it shall furnish written notice of such election to the Bond Trustee not later than 25 days prior to the Redemption Date for such redemption and shall deposit with the Bond Trustee the Redemption Price of the Transition Bonds to be redeemed plus interest accrued thereon to such Redemption Date plus all other amounts due and payable hereunder on or prior to such Redemption Date whereupon all such Transition Bonds shall be due and payable on such Redemption Date upon the furnishing of a notice complying with Section 10.03 hereof to each Holder of the Transition Bonds of such Series pursuant to this Section 10.01.
Appears in 1 contract
Optional Redemption by Issuer. The Issuer may, at its option, redeem the Transition Bonds of a Series, in whole or from time to time in part, as permitted by the related Series Supplement on any Redemption Date at a price specified in such Series Supplement (such price being called the "Redemption Price") plus interest accrued on the Transition Bonds to be redeemed to such Redemption Date. If the Issuer shall elect to redeem the Transition Bonds of a Series pursuant to this Section 10.01, it shall furnish written notice of such election to the Bond Trustee not later than 25 days prior to the Redemption Date for such redemption and shall deposit with the Bond Trustee the Redemption Price of the Transition Bonds to be redeemed plus interest 105 accrued thereon to such Redemption Date on or prior to such Redemption Date whereupon all such Transition Bonds shall be due and payable on such Redemption Date upon the furnishing of a notice complying with Section 10.03 10.02 hereof to each Holder of the Transition Bonds of such Series pursuant to this Section 10.01.
Appears in 1 contract
Samples: Indenture (West Penn Funding LLC)
Optional Redemption by Issuer. The Issuer may, at its option, redeem the Transition Bonds of a Series, in whole or from time to time in part, as permitted by the related Series Supplement on any Redemption Date at a price specified in such Series Supplement (such price being called the "Redemption Price") plus interest accrued on the Transition Bonds to be redeemed to such Redemption Date. If the Issuer shall elect to redeem the Transition Bonds of a Series pursuant to this Section 10.01, it shall furnish notice of such election to the Bond Trustee not later than 25 days prior to the Redemption Date for such redemption and shall deposit with the Bond Trustee the Redemption Price of the Transition Bonds to be redeemed plus interest accrued thereon to such Redemption Date on or prior to such Redemption Date whereupon all such Transition Bonds shall be due and payable on such Redemption Date upon the furnishing of a notice complying with Section 10.03 10.02 hereof to each Holder of the Transition Bonds of such Series pursuant to this Section 10.01.
Appears in 1 contract
Samples: Indenture (West Penn Funding LLC)