Payment of Redeemed Bonds. Notice having been given in the manner provided in Section 4.5 (and if said notice shall have been conditioned on the availability of funds on the redemption date, then to the extent such funds are so available), the Bonds or portions thereof so called for redemption shall become due and payable on the redemption date so designated at the Redemption Price, plus interest accrued and unpaid on such Bonds to the redemption date, and, upon presentation and surrender thereof at the offices specified in such notice, together with, in the case of Bonds presented by other than the Owner, a written instrument of transfer duly executed by the Owner or his attorney duly authorized in writing, such Bonds, or portions thereof, shall be paid at the Redemption Price plus interest accrued and unpaid on such Bonds to the redemption date. If there shall be called for redemption less than all of a registered Bond, the Authority shall execute and deliver, upon the surrender of such Bond, without charge to the Owner thereof, for the unredeemed balance of the Principal Amount of the registered Bond so surrendered, registered Bonds of like maturity in any of the authorized denominations. If, on the redemption date, moneys for the redemption of all the Bonds or portions thereof of any like maturity to be redeemed, together with interest to the redemption date, shall be held by the Trustee and Paying Agent so as to be available therefor on said date and if notice of redemption shall have been given as aforesaid, then, from and after the redemption date, interest on the Bonds or portions thereof of such maturity so called for redemption shall cease to accrue and become payable. If said moneys shall not be so available on the redemption date, such Bonds or portions thereof shall continue to bear interest until paid at the same rate they would have borne had they not been called for redemption.
Payment of Redeemed Bonds. (a) Except as otherwise provided in Section 4.3 for conditional notices of optional redemption or in the Related Series Supplement, if notice of redemption has been given as provided in Section 4.3, the Bonds called for redemption shall be due and payable on the date fixed for redemption at a redemption price equal to the principal amount of and premium, if any, on the Bonds, together with accrued interest to the date fixed for redemption. Payment of the redemption price shall be made by the Trustee upon surrender of the Bonds, if funds are on deposit for that purpose. If less than the full principal amount of a Bond is called for redemption, NVTC shall execute and deliver and the Trustee shall authenticate, upon surrender of the Bond, and without charge to the Owner, Bonds of the same Series for the unredeemed portion of the principal amount of the Bond so surrendered.
(b) If any Bond has been duly called for redemption and payment of the principal of and premium, if any, and unpaid interest accrued to the date fixed for redemption on the Bond has been made or provided for, then, notwithstanding that the Bond called for redemption has not been surrendered for cancellation, interest on the Bond shall cease to accrue from the date fixed for redemption. In addition, from and after the date fixed for redemption, the Bond shall no longer be entitled to any lien, benefit or security under this Master Indenture, and its Owner shall have no rights in respect of the Bond except to receive payment of the principal of and premium, if any, and unpaid interest accrued to the date fixed for redemption of the Bond.
Payment of Redeemed Bonds. Notice having been given by mail in the manner provided in Section 4.05 hereof, the Bonds or portions thereof so called for redemption shall become due and payable on the redemption date so designated at the Redemption Price, plus interest accrued and unpaid to the redemption date, except as otherwise provided in Section
Payment of Redeemed Bonds. Such notice having been mailed as above provided, the Bonds designated for redemption shall, on the date specified in such notice, become due and payable at the then applicable redemption price, and on presentation and surrender of such Bonds in accordance with such notice, at the place at which the same are expressed in such notice to be redeemable, such Bonds shall be redeemed by the Trustee and any Paying Agent on behalf of the Authority by the payment of such redemption price to the registered owners out of funds held by the Trustee or any Paying Agent for that purpose. From and after the date of redemption so designated, unless default is made in the redemption of the Bonds upon presentation, interest on Bonds designated for redemption shall cease. If not so paid on presentation thereof, the Bonds shall continue to bear interest at the rate therein specified.
Payment of Redeemed Bonds. After notice shall have been given in the manner provided in Section 303 hereof, Bonds or portions thereof called for Redemption shall become due and payable on the redemption date so designated. Upon presentation and surrender of such Bonds at the Principal Office of the Trustee, such Bonds shall be paid at a price equal to the Redemption Price plus unpaid interest, if any, accrued up to and including the redemption date. If there shall be called for Redemption less than all of a fully registered Bond, the Authority shall, upon the surrender of such fully registered Bond and without charge to the Owner thereof, (i) pay the Redemption Price of the Authorized Denominations called for Redemption and (ii) execute and cause the Trustee to authenticate and deliver for the unredeemed balance of the principal amount of such Bond so surrendered, Bonds of like series, maturity and interest rate in any Authorized Denominations.
Payment of Redeemed Bonds. 28 Section 3.04 Tender Option Right of Holders................................................................29 Section 3.05 Purchase in Lieu of Redemption................................................................32 ARTICLE IV BOND FUND, REBATE FUND, REVENUES AND APPLICATION THEREOF.............................................32
Payment of Redeemed Bonds. (A) Notice having been given in the manner provided in Section 6.3 hereof, the Bonds or portions thereof so called for redemption shall become due and payable on the redemption dates so designated at the Redemption Price, plus interest accrued to the redemption date and all other amounts then due under the Financing Documents. If, on the redemption date, moneys for the redemption of all the Bonds or portions thereof to be redeemed, together with interest to the redemption date, and all other amounts then due under the Financing Documents, shall be held by the Paying Agents so as to be available therefor on such date and if notice of redemption shall have been given as aforesuch, then, from and after the redemption date, interest on the Bonds or portions thereof so called for redemption shall cease to accrue and become payable. If such moneys shall not be so available on the redemption date, such Bonds or portions thereof shall continue to bear interest until paid at the same rate as they would have borne had they not been called for redemption.
Payment of Redeemed Bonds. Such notice having been mailed as above provided, the Bonds designated for redemption shall, on the date specified in such notice, become due and payable at the then applicable redemption price, and on presentation and surrender of such Bonds in accordance with such notice, at the place at which the same are expressed in such notice to be redeemable, such Bonds shall be redeemed by the Trustee and any Paying Agent on behalf of the Authority by the payment of such redemption price to the registered owners out of funds held by the Trustee or any Paying Agent for that purpose. Upon the payment of the redemption price of Bonds redeemed, each check or other transfer of funds issued for such purpose shall identify by issue and maturity or sinking fund redemption date, the Bonds being redeemed with the proceeds of such check or other transfer. From and after the date of redemption so designated, unless default is made in the redemption of the Bonds, interest on Bonds designated for redemption shall cease. In an event of default in the redemption of the Bonds, the Bonds shall continue to bear interest at the rate therein specified.
Payment of Redeemed Bonds. (a) If (i) unconditional notice of the redemption has been duly given or duly waived by the Holders of all Bonds called for redemption or (ii) conditional notice of redemption has been so given or waived and Available Moneys for such redemption have been duly deposited with the Trustee, then in either such case the Bonds called for redemption shall be payable on the redemption date at the applicable redemption price. Payment of the redemption price together with accrued interest shall be made by the Trustee, out of Revenues or other funds deposited for such purpose, to or upon the order of the Holders of the Bonds called for redemption upon surrender of such Bonds, except as otherwise provided in Section 2.13.
(b) Upon the payment of the redemption price of Bonds being redeemed, each check or other transfer of funds issued for such purpose shall bear the CUSIP number identifying, by issue and maturity, the Bonds being redeemed with the proceeds of such check or other transfer.
(c) All moneys deposited in the Bond Fund and held by the Trustee for the redemption of particular Bonds shall be held in trust for the account of the Holders thereof and shall be paid to them, respectively, upon presentation and surrender of those Bonds, except as otherwise provided in Section 2.13. (End of Article III)
Payment of Redeemed Bonds. Notice by advertisement having been given in the manner herein provided, or irrevocable instructions having been given to the Trustee to give such notice, accompanied by payment of funds sufficient to pay all expenses of advertisement, or written waivers of notice having been filed with the Trustee by Holders or Registered Owners of all Bonds to be redeemed, and the principal, premium, if any, and accrued interest payable having been deposited with the Trustee, or having been set aside by the Trustee in any Fund or Funds created hereunder, as appropriate, as provided herein, prior to the date fixed for redemption, Bonds so called for redemption shall become payable on the date fixed for redemption and interest on such Bonds shall cease from such redemption date, whether such Bonds shall be presented for redemption or not, and coupons representing interest on such Bonds thereafter to accrue from that date shall be void. The principal amount of all such Bonds so called for redemption and the applicable premium, if any, shall be paid by the Trustee, as provided hereunder, upon presentation and surrender thereof in negotiable form. All coupons maturing subsequent to the date fixed for redemption must accompany each Bond in coupon form so redeemed, subject to Section 2.08.
