Common use of Optional Redemption by Issuer Clause in Contracts

Optional Redemption by Issuer. If and to the extent provided in the related Series Supplement, and if no Interest Rate Swap Agreement with respect to any Class of that Series is in effect, the Issuer may, at its option, redeem all, but not less than all, of the Transition Bonds of a Series 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 a percentage of the initial principal balance of such Series below the percentage specified in such Series Supplement. 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 (the "Redemption Price"). If the Issuer 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 Trustee, not later than 25 days prior to the Redemption Date for such redemption and (b) to the Rating Agencies, not later than 10 days 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 to each Holder of the Transition Bonds of such Series pursuant to this Section 10.01.

Optional Redemption by Issuer. If and to the extent provided in the related Series Supplement, and if no Interest Rate Swap Agreement with respect to any Class of that Series is in effect, the The Issuer may, at its ----------------------------- option, redeem all, but not less than all, of the Transition Bonds of a Series 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 a percentage less than five percent of the initial principal balance of such Series below the percentage specified in such Series Supplement. The redemption thereof at a 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 Interest Rate to the Optional Redemption Date (such price being called the "Optional Redemption Price"). If the Issuer elects 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 (a) the Trustee, Trustee and the Rating Agencies not later than 25 days prior to the Optional Redemption Date for such redemption and (b) to shall deposit with the Rating Agencies, Trustee not later than 10 days one Business Day prior to such the Optional Redemption Date, Date the Optional Redemption Price of the Bonds to be redeemed 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 10.02 to each Holder of the Transition Bonds of such Series pursuant to this Section 10.01.

Optional Redemption by Issuer. If and to the extent so provided in the related Series Supplement, Supplement and if provided that there is no Interest Rate Swap Agreement with respect to any Class of that Series is in effect, the Issuer may, at its option, redeem all, but not less than all, of the Transition Securitization Bonds of a Series 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 Securitization Bonds has been reduced to a percentage less than five percent (5%) of the initial principal balance of such Series below the percentage specified in such Series SupplementSeries. The redemption price in any case shall be equal to the outstanding principal amount Outstanding Amount of the Bonds Series to be redeemed plus accrued and unpaid interest thereon at the Interest Rate to the Redemption Date (the "Redemption Price"," for purposes of this Section 10.01). If the Issuer 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 Trustee, not later than 25 twenty-five (25) days prior to the Redemption Date for such redemption and (b) to the Rating Agencies, not later than 10 ten (10) days prior to such Redemption 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 to each Holder of the Transition Bonds of such Series pursuant to this Section 10.01.complying

Optional Redemption by Issuer. If and to the extent so provided in the related Series Supplement, Supplement and if provided that there is no Interest Rate Swap Agreement with respect to any Class of that Series is in effect, the Issuer may, at its option, redeem all, but not less than all, of the Transition Bonds of a Series 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 a percentage less than five percent of the initial principal balance of such Series below the percentage specified in such Series SupplementSeries. 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 (the "Redemption Price"). If the Issuer 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 Trustee, not later than 25 twenty-five days prior to the Redemption Date for such redemption and (b) to the Rating Agencies, not later than 10 ten days 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 to each Holder of the Transition Bonds of such Series pursuant to this Section 10.01.

Optional Redemption by Issuer. If and to the extent provided in the related Series Supplement, and if no Interest Rate Swap Agreement with respect to any Class of that Series is in effect, the The Issuer may, at its option, redeem allin whole, but not less than allin part, of the Transition Bonds of a Series on any Payment date after the latest Scheduled Maturity Date ifof all Classes of Bonds, after giving effect to payments that would otherwise be made on such Payment Date, but only if the Outstanding Amount of any such Series of Transition Bonds has been reduced on or before the Redemption Date is less than or equal to a percentage five percent (5%) of the initial principal balance of such Series below the percentage specified in such Series Supplementamount thereof. The redemption price in any case shall be equal to the outstanding principal amount of the Bonds to be redeemed redeemed, plus accrued and unpaid interest thereon at the Bond Interest Rate to the Redemption Date (such price being called the "“Optional Redemption Price"”). The Issuer may only release Bonds pursuant to this Section 10.01 if the Issuer has adequate funds to do so and if such exercise would not cause the Issuer to be insolvent. If the Issuer elects 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 (a) the Trustee, Trustee and the Rating Agencies not later than 25 twenty-five (25) days nor more than fifty (50) days prior to the Redemption Date for such redemption and (b) to shall deposit with the Rating Agencies, Trustee not later than 10 days one (1) Business Day prior to such the Redemption Date, Date the Redemption Price of the Bonds to be redeemed whereupon all such Transition Bonds shall be due and payable on such the 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.

Optional Redemption by Issuer. If and to the extent so provided in the related Series Supplement, Supplement and if provided that there is no Interest Rate Swap Agreement with respect to any Class of that Series is in effect, the Issuer may, at its option, redeem all, but not less than all, of the Transition Securitization Bonds of a Series 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 Securitization Bonds has been reduced to a percentage less than five percent (5%) of the initial principal balance of such Series below the percentage specified in such Series SupplementSeries. The redemption price in any case shall be equal to the outstanding principal amount Outstanding Amount of the Bonds Series to be redeemed plus accrued and unpaid interest thereon at the Interest Rate to the Redemption Date (the "Redemption Price"," for purposes of this Section 10.01). If the Issuer 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 Trustee, not later than 25 twenty-five (25) days prior to the Redemption Date for such redemption and (b) to the Rating Agencies, not later than 10 ten (10) days prior to such Redemption 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 to each Holder of the Transition Securitization Bonds of such Series pursuant to this Section 10.01.

Optional Redemption by Issuer. If and to the extent provided in the related Series Supplement, and if no Interest Rate Swap Agreement with respect to any Class of that Series is in effect, the Issuer may, at its option, redeem all, but not less than all, of the Transition Bonds of a Series 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 a percentage of the initial principal balance of such Series below the percentage specified in such Series Supplement. 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 (the "Redemption Price"). If the Issuer elects to redeem the Transition Bonds of a Series pursuant to this Section 10.01, it shall furnish written notice of such election to (a) the Trustee, not later than 25 days prior to the Redemption Date for such redemption and (b) to the Rating Agencies, not later than 10 days prior to such Redemption Date, whereupon all such Transition Bonds shall be due and payable on such Redemption Date upon the furnishing of a written notice complying with Section 10.03 to each Holder of the Transition Bonds of such Series pursuant to this Section 10.01.

Optional Redemption by Issuer. If and to the extent so provided in the related Series Supplement, Supplement and if provided that there is no Interest Rate Swap Agreement with respect to any Class of that Series is in effect, the Issuer may, at its option, redeem all, but not less than all, of the Transition Bonds of a Series 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 a percentage less than five percent (5%) of the initial principal balance of such Series below the percentage specified in such Series SupplementSeries. 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 (the "Redemption Price"). If the Issuer 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 Trustee, not later than 25 twenty-five (25) days prior to the Redemption Date for such redemption and (b) to the Rating Agencies, not later than 10 ten (10) days 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 to each Holder of the Transition Bonds of such Series pursuant to this Section 10.01.

Optional Redemption by Issuer. If and to the extent so provided in the related Series Supplement, and if no Interest Rate Swap Agreement with respect to any Class of that Series is in effect, the Issuer may, at its option, redeem all, but not less than all, of the Transition Bonds of a Series 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 a percentage less than five percent of the initial principal balance of such Series below the percentage specified in such Series Supplementsuc 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 Bond Rate to the Redemption Date (( the "Redemption Price"). If the Issuer 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 Trustee, Trustee not later than 25 days prior to the Redemption Date for such redemption and (b) shall deposit with the Trustee the Redemption Price of the Transition Bonds to the Rating Agencies, not later than 10 days be redeemed plus interest accrued thereon to such Redemption Date on or 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.

Optional Redemption by Issuer. If and to the extent so provided in the related Series Supplement, Supplement and if provided that there is no Interest Rate Swap Agreement with respect to any Class of that Series is in effect, the Issuer may, at its option, redeem all, but not less than all, of the Transition Bonds of a Series 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 a percentage less than five percent of the initial principal balance of such Series below the percentage specified in such Series SupplementSeries. The redemption price in any case shall be equal to the outstanding principal Principal amount of the Transition Bonds to be redeemed plus accrued and unpaid interest thereon at the Interest Rate to the Redemption Date (the "“Redemption Price"”). If the Issuer 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 Trustee, not later than 25 twenty-five days prior to the Redemption Date for such redemption and (b) to the Rating Agencies, not later than 10 ten days 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 to each Holder of the Transition Bonds of such Series pursuant to this Section 10.01.