Common use of Payment of Principal and Redemption Price Clause in Contracts

Payment of Principal and Redemption Price. Principal (and the Redemption Price, if applicable) of each Security shall be paid by the Bank to the Holder at the Maturity thereof, but solely from funds collected from the City for such purpose, upon presentation and surrender of such Security to the Bank for cancellation. All Securities presented and surrendered for payment shall be delivered to the Designated Payment/Transfer Office.

Payment of Principal and Redemption Price. Principal (and the Redemption Price, if applicable) of each Security shall be paid by the Bank to the Holder at the Maturity thereof, but solely from funds collected from the City for such purpose, upon presentation and surrender of such Security to the Bank for cancellation. All Securities presented and surrendered for payment shall be delivered to the Designated Payment/Transfer Office. The foregoing notwithstanding, for so long as the TWDB is the beneficial owner of the Securities, principal may be paid by wire transfer as provided in the Securities.

Payment of Principal and Redemption Price. DRAFT Principal (and the Redemption Price, if applicable) of each Security shall be paid by the Bank to the Holder at the Maturity thereof, but solely from funds collected from the City for such purpose, upon presentation and surrender of such Security to the Bank for cancellation. All Securities presented and surrendered for payment shall be delivered to the Designated Payment/Transfer Office.

Payment of Principal and Redemption Price. Principal (and the Redemption Price, if applicable) of each Security Obligation shall be paid by the Bank to the Holder at the Maturity thereof, but solely from funds collected from the City for such purpose, upon presentation and surrender of such Security Obligation to the Bank for cancellation. All Securities Obligations presented and surrendered for payment shall be delivered to the Designated Payment/Transfer Office.