Common use of Payment of Redeemed Bonds Clause in Contracts

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) 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)4.5, 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 office 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 Trust shall execute and the Master Trustee shall authenticate and deliver, upon the surrender of such Bond, without charge to the Registered Owner thereof, for the unredeemed balance of the Principal Amount principal amount of the registered Bond so surrendered, registered at the option of the Registered Owner thereof, Bonds of like Series, maturity and tenor 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 Master 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, 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 as they would have borne had they not been called for redemption. (B) Notwithstanding anything in this Trust Agreement to the contrary, in lieu of the redemption of any Bond or portion thereof called for redemption in accordance with this Article IV and the applicable Supplemental Trust Agreement, the Trust may purchase or may direct the Master Trustee to purchase such Bond or portion thereof from the amounts held hereunder available to pay the Redemption Price of such Bond at a purchase price not exceeding such Redemption Price plus accrued interest thereon. Any such Bond or portion thereof so purchased shall be cancelled as provided in Section 3.10 hereof or, at the option of the Trust, may be remarketed or otherwise sold by the Trust at such price or prices and under such terms and conditions as the Trust shall determine in its discretion subject to the provisions hereof and the applicable Supplemental Trust Agreement.

Payment of Redeemed Bonds. Notice having been given mailed 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)preceding Section, the Bonds or and 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, and upon presentation and surrender thereof at the offices place or places specified in such that 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 redemption price, plus interest accrued and unpaid on such Bonds to the redemption date; provided that, so long as the Letter of Credit or an Alternate Credit Facility is in effect, payment of the Bonds upon optional redemption thereof shall be made from moneys only to the extent such moneys constitute Available Moneys. 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 of the Bonds or and portions thereof of any like maturity to be redeemed, together with interest accrued thereon to the redemption date, shall be are held by the Trustee and or any Paying Agent on the redemption date, so as to be available therefor on said date and if notice of redemption shall have been given as aforesaidthat date, then, then from and after the redemption date, interest on date the Bonds or and portions thereof of such maturity so called for redemption shall cease to accrue bear interest and become payableno longer shall be considered to be Outstanding hereunder. If said those moneys shall not be so available on the redemption date, such those Bonds or and portions thereof shall continue to bear interest interest, until paid they are paid, at the same rate as they would have borne had they not been called for redemption. All moneys deposited in the Bond Fund or held by the Trustee or a Paying Agent 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.

Payment of Redeemed Bonds. Notice having (a) After notice shall have 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 date3.02 hereof, 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, anddesignated, upon presentation and surrender thereof of such Bonds at the offices specified in such notice, together with, in Principal Corporate Trust Office of 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 dateTrustee. If there shall be called for redemption less than all of a registered Bond, the Authority shall execute and deliverIssuer shall, upon the surrender of such Bond, Bond and without charge to the Owner thereof, (i) pay the redemption price of the $1,000 unit or units of principal amount called for redemption and (ii) execute and cause the Trustee to authenticate and deliver for the unredeemed balance of the Principal Amount principal amount of any such Bond so surrendered new Bonds in any authorized denominations having the same maturity and interest rate and of the registered Bond so surrendered, registered Bonds of like maturity in any of the authorized denominations. same series as such redeemed Bonds. (b) If, on the redemption date, moneys or Government Obligations in an amount sufficient for the redemption of all the Bonds or portions thereof of any like maturity to be redeemed, together with interest and Interest thereon 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 aforesaidTrustee, 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 bear Interest and become payablesuch Bonds or portions thereof shall no longer be Outstanding hereunder or be secured by or entitled to the benefits of this Indenture. If said such moneys or Government Obligations shall not be so available on or prior to the redemption date, such Bonds or portions thereof shall continue to bear interest Interest until paid at the same rate they as would have borne been applicable had they not been called for redemptionredemption and shall continue to be secured by and entitled to the benefits of this Indenture.

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)mailed, the Series 2020 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, and upon presentation and surrender thereof at the offices place or places specified in such that 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 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 money for the redemption of all of the Series 2020 Bonds or portions thereof of any like maturity to be redeemed, together with interest to the redemption date, shall be redeemed is held by the Trustee and Paying Agent on the redemption date so as to be available therefor on said date that date, and if notice of redemption shall have has been given mailed as aforesaid, then, then from and after the redemption date, interest on the date those Series 2020 Bonds or portions thereof of such maturity so called for redemption shall cease no longer be entitled to accrue and become payablepayment of any sum other than the redemption price. If said moneys shall In the event Series 2020 Bonds which have been called for redemption are not be so available presented to the Trustee for redemption on or prior to the 30th day following the redemption date, the Trustee shall notify the registered Holder thereof by certified or registered mail, return receipt requested, that such Series 2020 Bonds or portions thereof shall continue to bear interest until paid at the same rate they would have borne had they not been called and that the Trustee is holding funds for redemptionthe payment of the redemption price thereof pending presentation by such Holder. All moneys deposited in the Bond Fund and held by the Trustee for the redemption of particular Series 2020 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 Series 2020 Bonds.

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)405, the Bonds or portions thereof so called for redemption shall become due and payable on the date fixed for redemption date so designated at the Redemption Price, plus interest accrued and unpaid on to such Bonds to the redemption date, and, upon presentation and surrender thereof at the offices any place 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 Price, plus interest accrued and unpaid on to such Bonds to the redemption date. If there shall be called for redemption less than all of a registered Bond, the Authority SANDAG shall execute and the Trustee shall authenticate and the Trustee shall deliver, upon the surrender of such Bond, without charge to the Owner thereof, for the unredeemed balance of the Principal Amount principal amount of the registered Bond so surrendered, fully registered Bonds of like Series and maturity and interest rate in any of the authorized denominationsAuthorized Denominations. If, on the redemption datedate fixed for redemption, moneys for the redemption of all the Bonds or portions thereof of any like Series and maturity and interest rate to be redeemed, together with interest to the redemption such 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 datedate fixed for redemption, interest on the Bonds or portions thereof of such Series and maturity and interest rate so called for redemption shall cease to accrue and become payable. If said moneys shall not be so available on the redemption datedate fixed for redemption, 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. Notice having been given mailed to the registered owner of the Bond or Bonds to be redeemed in the manner provided in Section 4.5 3.04 hereof, and, in the event of optional redemption pursuant to Section 3.01 (b) or (c) hereof, upon money being deposited as 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)required by Section 3.03 hereof, the Bonds or and 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, and upon presentation and surrender thereof at the offices place or places specified in such that 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 redemption price, including interest accrued and unpaid on such Bonds to the redemption date. If there Except with respect to an optional redemption pursuant to Section 3.01(b) or (c) in which Available Moneys have been deposited as required by Section 3.03 hereof, the Trustee shall make a drawing under the Letter of Credit to pay the redemption price of the Bonds being redeemed (including accrued and unpaid interest to the date of redemption). Any moneys received by the Trustee from the Company that are available to be applied toward the payment of such redemption price 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 paid 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, Bank on the date of redemption date, moneys to reimburse the Bank for any drawing made under the Letter of Credit to pay such redemption price. If money for the redemption of all of the Bonds or and portions thereof of any like maturity to be redeemed, together with interest accrued thereon to the redemption date, shall be is held by the Trustee and Paying Agent on the redemption date, so as to be available therefor on said that date and if notice of redemption shall have has been given deposited in the mail to the Holder of the Bond or Bonds to be redeemed as aforesaid, then, then from and after the redemption date, interest on the date those Bonds or and portions thereof of such maturity so called for redemption shall cease to accrue bear interest and become payableno longer shall be considered to be outstanding hereunder and shall cease to be entitled to any lien, benefit or security under this Indenture, and the Holders shall have no rights in respect thereof except for the payment of the redemption price thereof. If said those moneys shall not be so available on the redemption date, such or that notice shall not have been deposited in the mail as aforesaid, those Bonds or and portions thereof shall continue to bear interest interest, until paid they are paid, at the same rate or rates as they would have borne had they not been called for redemption. 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 provided in Section 3.6 hereof.

Payment of Redeemed Bonds. ‌ Notice having been given in the manner provided in accordance with 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)4.2 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 on such Bonds to the redemption date, and, and upon presentation and surrender thereof at the offices place or places specified in such that 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 redemption price plus interest accrued and unpaid on such Bonds to the redemption date; provided, however, that in the event of any conditional provision in the notice, the Bonds will not become due and payable as provided in this section until such condition has been satisfied. 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 money for the redemption of all of the Bonds or portions thereof of any like maturity to be redeemed, together with interest to the redemption date, shall be redeemed is held by the Trustee and Paying Agent on the redemption date so as to be available therefor on said date that date, and if notice of redemption shall have has been given as aforesaidprovided in Section 4.2 hereof, then, then from and after the redemption date, interest on the date those Bonds or portions thereof of such maturity so called for redemption shall cease no longer be entitled to accrue and become payablepayment of any sum other than the redemption price. If said moneys shall In the event Bonds which have been called for redemption are not be so available presented to the Trustee for redemption on or prior to the 30th day following the redemption date, the Trustee shall notify the registered Holder thereof by facsimile or by certified or registered mail, return receipt requested, that 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 and that the Trustee is holding funds for redemptionthe payment of the redemption price thereof pending presentation by such Holder. 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.

Payment of Redeemed Bonds. Notice having been given mailed 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)3.03 hereof, the Bonds or and portions thereof so called for redemption shall become due and payable on the redemption date so designated at the Redemption PriceDate, plus interest accrued and unpaid on such Bonds to the redemption date, and, upon presentation and surrender thereof at the offices place or places specified in such that 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 redemption price, including interest accrued and unpaid on such Bonds to the redemption dateRedemption Date. Upon the payment of the price of Bonds being redeemed or prepaid, 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 or prepaid with the proceeds of such check or other transfer. 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 money for the redemption of all of the Bonds or and portions thereof of any like maturity to be redeemed, together with interest accrued thereon to the redemption dateRedemption Date, shall be is held by the Trustee and Paying Agent on the Redemption Date, so as to be available therefor on said that date and if notice of redemption shall have has been given deposited in the mail as aforesaid, then, then from and after the redemption date, interest on the Redemption Date those Bonds or and portions thereof of such maturity so called for redemption shall cease to accrue bear interest and become payableno longer shall be considered to be Outstanding hereunder. If said moneys such money shall not be so available on the redemption date, such or that notice shall not have been deposited in the mail as aforesaid, those Bonds or and portions thereof shall continue to bear interest interest, until paid they are paid, at the same rate as they would have borne had they not been called for redemption.. All money deposited in the Bond Fund and held by the Trustee for the redemption, purchase or prepayment 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.‌

Payment of Redeemed Bonds. Notice having been given mailed to the registered owner of the Bond or Bonds to be redeemed in the manner provided in Section 4.5 4.04 hereof, and, in the event of optional redemption pursuant to Section 4.01(c) or (d) hereof, upon money being deposited as 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)required by Section 4.03 hereof, the Bonds or and 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, and upon presentation and surrender thereof at the offices place or places specified in such that 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 redemption price, including interest accrued and unpaid on such Bonds to the redemption date. If there The Trustee shall make a drawing under the Letter of Credit to pay the principal of and interest due on the Project Bonds being redeemed. Any moneys received by the Trustee from the Borrower which are available to be applied toward the payment of such principal and interest, 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 paid to the Owner thereofBank to reimburse the Bank for any drawing made under the Letter of Credit to pay such principal and interest. Subject to the provisions of Section 13.05 hereof, 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 if money for the redemption of all of the Bonds or and portions thereof of any like maturity to be redeemed, together with interest accrued thereon to the redemption date, shall be is held by the Trustee and Paying Agent on the redemption date, so as to be available therefor on said that date and if notice of redemption shall have has been given deposited in the mail to the registered owner of the Bond or Bonds to be redeemed as aforesaid, then, then from and after the redemption date, interest on the date those Bonds or and portions thereof of such maturity so called for redemption shall cease to accrue bear interest and become payableno longer shall be considered to be outstanding hereunder. If said those moneys shall not be so available on the redemption date, such or that notice shall not have been deposited in the mail as aforesaid, those Bonds or and portions thereof shall continue to bear interest interest, until paid they are paid, at the same rate or rates as they would have borne had they not been called for redemption. 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 provided in Section 3.06 hereof.

Payment of Redeemed Bonds. ii) 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)6.03, the Bonds or portions thereof so called for redemption shall become due and payable on the redemption date dates 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 Agents 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, (i) interest on the Bonds or portions thereof of such maturity so called for redemption shall cease to accrue and become payable, (ii) the Bonds or portions thereof so called for redemption shall cease to be entitled to any lien, benefit or security under this Indenture, and (iii) the Holders of the Bonds or portions thereof so called for redemption shall have no rights in respect thereof, except to receive payment of the Redemption Price together with interest accrued to the redemption date. 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 as they would have borne had they not been called for redemption.

Payment of Redeemed Bonds. Notice having (a) After notice shall have 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 date3.02 hereof, 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, anddesignated, upon presentation and surrender thereof of such Bonds at the offices specified in such notice, together with, in Principal Corporate Trust Office of 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 dateTrustee. If there shall be called for redemption less than all of a registered Bond, the Authority shall execute and deliverIssuer shall, upon the surrender of such Bond, Bond and without charge to the Owner owner thereof, (i) pay the redemption price of the $5,000 unit or units of principal amount called for redemption and (ii) execute and cause the Trustee to authenticate and deliver for the unredeemed balance of the Principal Amount principal amount of any such Bond so surrendered new Bonds in any authorized denominations having the same maturity and interest rate and of the registered Bond so surrendered, registered Bonds of like maturity in any of the authorized denominations. same series as such redeemed Bonds. (b) If, on the redemption date, moneys or Government Obligations in an amount sufficient for the redemption of all the Bonds or portions thereof of any like maturity to be redeemed, together with and interest thereon 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 aforesaidTrustee, 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 bear interest and become payablesuch Bonds or portions thereof shall no longer be Outstanding hereunder or be secured by or entitled to the benefits of this Indenture. If said such moneys or Government Obligations shall not be so available on or prior to the redemption date, such Bonds or portions thereof shall continue to bear interest until paid at the same rate they as would have borne been applicable had they not been called for redemptionredemption and shall continue to be secured by and entitled to the benefits of this Indenture.

Payment of Redeemed Bonds. Notice Such 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)mailed as above provided, the Bonds or portions thereof so called designated for redemption shall become due and payable shall, 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 become due and payable at the Redemption Price plus interest accrued then applicable redemption price, 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 presentation and deliver, upon the surrender of such BondBonds in accordance with such notice, without charge at the place at which the same are expressed in such notice to be redeemable, such Bonds shall be redeemed by the Paying Agent on behalf of the Corporation by the payment of such redemption price to the Owner thereof, for the unredeemed balance registered owners out 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 funds held by the Trustee and Paying Agent so as to be available therefor on said date and if notice for that purpose. Upon the payment of redemption shall have been given as aforesaid, then, from and after the redemption dateprice of Bonds 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. With respect to any optional redemption of the Bonds, unless moneys sufficient to pay the principal of, and premium, if any, and interest on the Bonds or portions thereof to be redeemed shall have been received by the Trustee prior to the giving of such maturity so called for notice of redemption, such notice shall state that said redemption shall cease be conditional upon the receipt of such moneys by the Trustee on or prior to accrue and become payablethe date fixed for redemption. If said such moneys shall are not be so available on received by the redemption date, such Bonds or portions thereof notice shall continue to bear interest until paid at be of no force and effect, the Trustee shall not redeem such Bonds, the redemption price shall not be due and payable and the Trustee shall give notice, in the same rate they would have borne had they manner in which the notice of redemption was given, that such moneys were not been called for redemptionso received and that such Bonds will not be redeemed and that the failure to redeem such Bonds shall not constitute an event of default under this Indenture. Moneys need not be on deposit with the Trustee prior to the mailing of the notice of redemption of the Bonds pursuant to the provisions of Section 4.03 hereof.

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)4.05, the Bonds or portions thereof so called for redemption shall become due and payable on the redemption date Redemption Date so designated at the Redemption Price, plus interest accrued and unpaid on such Bonds to the redemption dateRedemption Date, and, and upon presentation and surrender thereof at the offices office 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 the principal of any Bond, the Authority Commission shall execute and deliverthe Trustee shall authenticate, upon the surrender of such Bond, without charge to the Owner thereof, for the unredeemed balance of the Principal Amount principal amount of the registered Bond so surrendered, registered Bonds of like Series and maturity in any of the authorized denominationsAuthorized Denomination. If, on the redemption dateRedemption Date, moneys for the redemption of all the Bonds or portions thereof of any like Series and maturity to be redeemed, together with interest to the redemption dateRedemption 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, Redemption Date interest on the Bonds or portions thereof of such Series and maturity so called for redemption shall cease to accrue and become payable. If said such moneys shall not be so available on the redemption dateRedemption Date, such Bonds or portions thereof shall continue to bear interest until paid at the same rate as they would have borne interest at had they not been called for redemption.

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)3.03 hereof, the Bonds or portions thereof so called for redemption shall become due and payable on the redemption date so designated at the Redemption Priceredemption price, plus interest accrued and unpaid on such Bonds to the redemption date, and, upon presentation and surrender thereof at the offices place or places specified in such notice, together with, in the case of such 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 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 such 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 or any 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 date such Bonds or portions thereof of such maturity so called for redemption shall cease to accrue bear interest, and become payablesaid Bonds shall no longer be considered as outstanding hereunder. 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 as they would have borne had they not been called for redemption. All moneys deposited in the Bond Fund and held by the Trustee or Paying Agents 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 such Bonds.

Payment of Redeemed Bonds. Notice having been given in the manner provided in Section 4.5 (4.05 and if said notice shall have any conditions to such redemption having been conditioned on the availability of funds on the redemption date, then to the extent such funds are so available)satisfied, the Bonds or portions thereof so called for redemption shall become due and payable on the date fixed for redemption date so designated at the Redemption Price, plus interest accrued and unpaid on to such Bonds to the redemption date, and, upon presentation and surrender thereof at the offices any place 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 Price, plus interest accrued and unpaid on to such Bonds to the redemption date. If there shall be called for redemption less than all the entire principal amount of a registered any Bond, the Authority Issuer shall execute and the Trustee shall authenticate and deliver, upon the surrender of such Bond, without charge to the Owner thereof, for the unredeemed balance of the Principal Amount principal amount of the registered Bond so surrendered, fully registered Bonds of like series, maturity and tenor in any of the authorized denominationsAuthorized Denominations. If, on the redemption datedate fixed for redemption, moneys for the redemption of all the Bonds or portions thereof of any like series and maturity to be redeemed, together with interest to the redemption such date, shall be held by the Trustee and Paying Agent so as to be available therefor therefore on said date and if notice of redemption shall have been given as aforesaid, then, from and after the redemption date, date fixed for redemption. interest on the Bonds or portions thereof of such series and maturity so called for redemption shall cease to accrue and become payable. If said moneys shall not be so available on the redemption datedate fixed for redemption, 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. 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)405, 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 office 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 State shall execute and the Paying Agent shall authenticate and deliver, upon the surrender of such Bond, without charge to the Owner registered owner thereof, for the unredeemed balance of the Principal Amount principal amount of the registered Bond so surrendered, at the option of the registered owner thereof, Bonds of like Series, maturity and tenor 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, 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 as they would have borne had they not been called for redemption.

Payment of Redeemed Bonds. In the event that notice of redemption shall have been given by the Bond Registrar to the registered owners as provided above, there shall be deposited with the Bond Registrar on or prior to the redemption date, moneys that, in addition to any other moneys available therefor and held by the Bond Registrar, will be sufficient to redeem at the redemption price thereof, plus accrued interest to the redemption date, all of the redeemable Bonds for which notice of redemption has been given. Notice having been given mailed 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)preceding paragraph hereof, the Bonds or and 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, subject to Section 7, upon presentation and surrender thereof at the offices place or places specified in such that 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 redemption price, plus accrued 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 of the Bonds or and portions thereof of any like maturity to be redeemed, together with accrued interest thereon to the redemption date, shall be are held by the Trustee and Paying Agent Bond Registrar on the redemption date, so as to be available therefor on said that date and and, if notice of redemption shall have has been given deposited in the mail as aforesaid, then, then from and after the redemption date, interest on the date those Bonds or and portions thereof of such maturity so called for redemption shall cease to accrue bear interest and become payableno longer shall be considered to be outstanding. If said those moneys shall not be so available on the redemption date, such or that notice shall not have been deposited in the mail as aforesaid, those Bonds or and portions thereof shall continue to bear interest interest, until paid they are paid, at the same rate as they would have borne had they not been called for redemption. All moneys held by the Bond Registrar for the redemption of particular Bonds shall be held in trust for the account of the registered owners thereof and shall be paid to them, respectively, upon presentation and surrender of those Bonds, provided that any interest earned on the moneys so held by the Bond Registrar shall be for the account of and paid to the City to the extent not required for the payment of the Bonds called for redemption.

Payment of Redeemed Bonds. Notice having been given in the manner provided in accordance with 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)4.2 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 on such Bonds to the redemption date, and, and upon presentation and surrender thereof at the offices place or places specified in such that 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 redemption price plus interest accrued and unpaid on such Bonds to the redemption date; provided, however, that in the event of any conditional provision in the notice, the Bonds will not become due and payable as provided in this section until such condition has been satisfied. 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 money for the redemption of all of the Bonds or portions thereof of any like maturity to be redeemed, together with interest to the redemption date, shall be redeemed is held by the Trustee and Paying Agent on the redemption date so as to be available therefor on said date that date, and if notice of redemption shall have has been given as aforesaidprovided in Section 4.2 hereof, then, then from and after the redemption date, interest on the date those Bonds or portions thereof of such maturity so called for redemption shall cease no longer be entitled to accrue and become payablepayment of any sum other than the redemption price. If said moneys shall In the event Bonds which have been called for redemption are not be so available presented to the Trustee for redemption on or prior to the 30th day following the redemption date, the Trustee shall notify the registered Holder thereof by facsimile or by certified or registered mail, return receipt requested, that 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 and that the Trustee is holding funds for redemptionthe payment of the redemption price thereof pending presentation by such Holder. 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.

Payment of Redeemed Bonds. Notice having been given in the manner provided in Section 4.5 (6.5 and all conditions precedent, if said any, specified in such notice shall have having been conditioned on the availability of funds on the redemption date, then to the extent such funds are so available)satisfied, the Bonds or portions thereof so called for redemption shall become due and payable on the redemption date Redemption Date so designated at the Redemption Price, plus interest accrued and unpaid on such Bonds to the redemption dateRedemption Date, and, except as otherwise provided in a Supplemental Indenture, upon presentation and surrender thereof at the offices office specified in such notice, together with, in the case of Bonds presented by other than the Ownerportions of Bonds, a written instrument of transfer exchange duly executed by the Owner registered owner or his attorney duly authorized in writing, such attorney. Such Bonds, or portions thereof, shall be paid at the Redemption Price Price, plus interest accrued and unpaid on such Bonds to the redemption dateRedemption Date. If there shall be called drawn for redemption less than all the entire principal amount of a registered Bond, the Authority Agency shall execute and the Trustee shall authenticate and deliver, upon the surrender of such BondXxxx, without charge to the Owner owner thereof, for the unredeemed balance of the Principal Amount principal amount of the registered Bond so surrendered, surrendered registered Bonds of like Series and maturity in any of the authorized denominations. If, on the redemption dateRedemption Date, moneys monies for the redemption of all the Bonds or portions thereof of any like maturity to be redeemed, together with interest to the redemption dateRedemption 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 aforesaidaforesaid and all conditions precedent to such redemption shall have been satisfied, then, from and after the redemption date, Redemption Date interest on the Bonds or portions thereof of such maturity so called for redemption shall cease to accrue and become be payable, and the Accreted Amount of any Capital Appreciation Bonds and Convertible Capital Appreciation Bonds shall cease to accrete. If said moneys monies shall not be so available on the Redemption Date or if any conditions precedent to such redemption dateshall not have been satisfied, 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.redemption.‌

Payment of Redeemed Bonds. Notice having been given ven by mail 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)4.05 hereof, the Bonds or portions thereof so called for redemption shall become due and payable on the redemption date so designated desi ated at the Redemption Price, plus interest accrued and unpaid on such Bonds to the redemption date, and, except as otherwise provided in Section 3.10 hereof upon presentation and surrender thereof of such Bonds, at the office or offices specified in such notice, together withand, in the case of Bonds presented by other than the Ownerre stered owner, together with a written instrument of transfer duly executed by the Owner re stered owner or his attorney duly authorized in writingattorney, such Bonds, or portions thereof, shall be paid at the Redemption Price plus interest accrued and unpaid on such Bonds to the redemption date; provide d, however, that payment of the Redemption Price may be paid by wire transfer to such registered owner if so authorized in the Supplemental Indenture that authorized the Bonds ofthe Series to be redeemed. If there shall be called drawn for redemption less than all of the principal amount of a registered Bond, the Authority Corporation shall execute and the Trustee shall authenticate and deliver, upon the surrender of such Bond, without charge to the Owner owner thereof, for the unredeemed balance of the Principal Amount principal amount of the registered re stered Bond so surrendered, registered Bonds of like Series, maturity and tenor in any of the authorized denominations. If, on the redemption date, moneys money for the redemption of all the Bonds or portions thereof of any like Series, maturity and tenor to be redeemed, together with interest accrued and unpaid thereon to the redemption date, shall be held by the Trustee and Paying Agent Agents so as to be available therefor on said such date and if notice of redemption shall have been given mailed 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 payablesuch Bonds shall no longer be considered to be Outstanding hereunder. If said moneys such money 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. Notice having been given sent to the registered owner of the Bond or Bonds to be redeemed in the manner provided in Section 4.5 4.04 hereof, and, in the event of optional redemption pursuant to Section 4.01(c) or (d) hereof, upon money being deposited as 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)required by Section 4.03 hereof, the Bonds or and 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, and upon presentation and surrender thereof at the offices place or places specified in such that 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 redemption price, including interest accrued and unpaid on such Bonds to the redemption date. If there The Trustee shall use Eligible Funds which have been deposited with the Trustee pursuant to Section 4.03 hereof or shall make a drawing under the Letter of Credit, to pay the principal of and interest due on the Bonds being redeemed. Any moneys received by the Trustee from the Borrower which are available to be applied toward the payment of such principal and interest, 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 paid to the Owner thereofBank to reimburse the Bank for any drawing made under the Letter of Credit to pay such principal and interest. Subject to the provisions of Section 13.05 hereof, 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 if money for the redemption of all of the Bonds or and portions thereof of any like maturity to be redeemed, together with interest accrued thereon to the redemption date, shall be is held by the Trustee and or any Paying Agent on the redemption date, so as to be available therefor on said that date and if notice of redemption shall have has been given sent to the registered owner of the Bond or Bonds to be redeemed as aforesaid, then, then from and after the redemption date, interest on the date those Bonds or and portions thereof of such maturity so called for redemption shall cease to accrue bear interest and become payableno longer shall be considered to be outstanding hereunder. If said those moneys shall not be so available on the redemption date, such or that notice shall not have been sent as aforesaid, those Bonds or and portions thereof shall continue to bear interest interest, until paid they are paid, at the same rate or rates as they would have borne had they not been called for redemption. All moneys deposited in the Bond Fund and held by the Trustee or a Paying Agent 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 provided in Section 3.06 hereof.

Payment of Redeemed Bonds. Notice having If notice of redemption has been given in the manner as provided in Section 4.5 (and if said notice shall have been conditioned on the availability 8.2 of funds on the redemption date, then to the extent such funds are so available)this Indenture, the Bonds or portions thereof so called for redemption shall become be due and payable on the date fixed for redemption date so designated at the Redemption Price, plus together with accrued interest accrued and unpaid on such Bonds to the redemption date, and, upon presentation and surrender thereof at date fixed for redemption. Payment of the offices specified in such noticeRedemption Price, 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 thereofwith accrued interest, shall be paid at made by the Trustee upon surrender of such Bonds. The Redemption Price plus shall be paid out of the Bond Fund. The expense of giving notice and any other expenses of redemption shall be paid by the Company. Accrued interest accrued and unpaid on such Bonds to shall be paid out of the redemption dateBond Fund. If there shall be called for redemption less than all the principal amount of a registered Bond, the Authority Issuer shall execute and deliverdeliver and the Trustee shall authenticate, upon the surrender of such Bond, and without charge to the Owner Registered Owner(s) thereof, at the option of the Registered Owner(s), registered Bonds of like Series and maturity date for the unredeemed balance portion of the Principal Amount principal amount of the registered Bond so surrendered. From and after the date fixed for redemption designated in such notice (deposit of sufficient redemption monies having been made with the Trustee and notice having been given or waived), registered notwithstanding that any Bonds so called for redemption in whole or in part shall not have been surrendered for cancellation, no further interest shall accrue upon the principal 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 redemption; and become payable. If said moneys shall not be so available on the redemption date, such Bonds or portions thereof so to be redeemed shall continue cease to bear be entitled to any lien, benefit or security under this Indenture, and the holders thereof shall have no rights in respect of such Bonds or portions thereof except to receive payment of the Redemption Price and unpaid interest until paid at accrued to the same rate they would have borne had they not been called date fixed for redemption.

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)mailed, the Series 2015 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, and upon presentation and surrender thereof at the offices place or places specified in such that 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 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 money for the redemption of all of the Series 2015 Bonds or portions thereof of any like maturity to be redeemed, together with interest to the redemption date, shall be redeemed is held by the Trustee and Paying Agent on the redemption date so as to be available therefor on said date that date, and if notice of redemption shall have has been given mailed as aforesaid, then, then from and after the redemption date, interest on the date those Bonds or portions thereof of such maturity so called for redemption shall cease no longer be entitled to accrue and become payablepayment of any sum other than the redemption price. If said moneys shall In the event Bonds which have been called for redemption are not be so available presented to the Trustee for redemption on or prior to the 30th day following the redemption date, the Trustee shall notify the registered Holder thereof by certified or registered mail, return receipt requested, that 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 and that the Trustee is holding funds for redemptionthe payment of the redemption price thereof pending presentation by such Holder. 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.

Payment of Redeemed Bonds. Notice having been given mailed 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)4.03 hereof, the Bonds or and 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, and upon presentation and surrender thereof at the offices place or places specified in such that 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 redemption price plus accrued 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 money for the redemption of all of the Bonds or and portions thereof of any like maturity to be redeemed, together with any interest accrued thereon to the redemption date, shall be is held by the Trustee and or any Paying Agent on the redemption date, so as to be available therefor on said that date and and, if notice of redemption shall have been given as aforesaidmailed in the manner provided in Section 4.03 hereof, then, then from and after the redemption date, interest on the date those Bonds or and portions thereof of such maturity so called for redemption shall cease to accrue bear interest and become payableno longer shall be considered to be outstanding hereunder. If said moneys that money shall not be so available on the redemption date, such or that notice shall not have been mailed as aforesaid, those Bonds or and portions thereof shall continue to bear interest interest, until paid they are paid, at the same rate as they would have borne had they not been called for redemption. All money deposited in the Debt Service Fund and held by the Trustee or a Paying Agent 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.

Payment of Redeemed Bonds. Notice having been given mailed 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)3.03 hereof, the Bonds or and 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, and upon presentation and surrender thereof at the offices place or places specified in such that 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 redemption price plus accrued 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 money for the redemption of all of the Bonds or and portions thereof of any like maturity to be redeemed, together with any interest accrued thereon to the redemption date, shall be is held by the Trustee and or any Paying Agent on the redemption date, so as to be available therefor on said that date and and, if notice of redemption shall have been given as aforesaidmailed in the manner provided in Section 3.03 hereof, then, then from and after the redemption date, interest on the date those Bonds or and portions thereof of such maturity so called for redemption shall cease to accrue bear interest and become payableno longer shall be considered to be Outstanding hereunder. If said moneys that money shall not be so available on the redemption date, such or that notice shall not have been mailed as aforesaid, those Bonds or and portions thereof shall continue to bear interest interest, until paid they are paid, at the same rate as they would have borne had they not been called for redemption. All money deposited in the CFC Debt Service Fund and held by the Trustee or a Paying Agent 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 or to the Authority pursuant to Section 2.11 hereof in the absence of such presentation.

Payment of Redeemed Bonds. Notice having been given mailed 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)4.04 hereof, the Bonds or and 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, and upon presentation and surrender thereof at the offices place or places specified in such that 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 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 money for the redemption of all of the Bonds or and portions thereof of any like maturity to be redeemed, together with interest accrued thereon to the redemption date, shall be is held by the Trustee and Paying Agent on the redemption date, so as to be available therefor on said that date and if notice of redemption shall have has been given deposited in the mail as aforesaid, then, then from and after the redemption date, interest on the date those Bonds or and portions thereof of such maturity so called for redemption shall cease to accrue bear interest and become payableno longer shall be considered to be outstanding hereunder. If said those moneys shall not be so available on the redemption date, such or that notice shall not have been deposited in the mail as aforesaid, those Bonds or and portions thereof shall continue to bear interest interest, until paid they are paid, at the same rate as they would have borne had they not been called for redemption. 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.

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)3.03, the Bonds or portions thereof so called for redemption shall become due and payable on the redemption date so designated at the Redemption Priceapplicable redemption price, plus interest accrued and unpaid on such Bonds to the redemption date, and, upon presentation and surrender thereof at the offices place or places specified in such notice, together with, in the case of such 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 applicable 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 such Bonds or portions thereof of any like maturity to be redeemed, together with interest to the redemption date, shall be are 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 date such Bonds or portions thereof of such maturity so called for redemption shall cease to accrue bear interest, and become payablesaid Bonds shall no longer be considered as outstanding hereunder. 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 as they would have borne had they not been called for redemption. All moneys deposited in the Bond Fund and held by the Trustee or Paying Agents 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 such Bonds.

Payment of Redeemed Bonds. Notice having been given in the manner provided in Section 4.5 4.05 (and if said notice shall have been conditioned on be subject to the availability satisfaction of funds on the redemption dateany conditions, then to the extent only upon satisfaction of such funds are so availableconditions), 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 Ownerregistered owner, a written instrument of transfer duly executed by the Owner registered 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 Issuer shall execute and deliver, upon the surrender of such Bond, without charge to the Owner owner thereof, for the unredeemed balance of the Principal Amount of the registered Bond so surrendered, registered Bonds of like a particular Series and maturity in any of the authorized denominations. If, on the redemption date, moneys for the redemption of all the Bonds (or portions thereof thereof) of any like such Series and maturity to be redeemed, together with interest to the redemption date, shall be held by the Trustee and Paying Agent Agents 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 Series and 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 as they would have borne had they not been called for redemption.

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)405, 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 office 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 the Trustee shall authenticate and deliver, upon the surrender of such Bond, without charge to the Registered Owner thereof, for the unredeemed balance of the Principal Amount principal amount of the registered Bond so surrendered, registered at the option of the Registered Owner thereof, Bonds of like Series, maturity and tenor 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, 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 as they would have borne had they not been called for redemption.

Payment of Redeemed Bonds. Notice having been given by mail 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)6.5 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 on such Bonds to the redemption date, and, upon presentation and surrender thereof at the offices designated office 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 the entire principal amount of a registered Bond, the Authority shall execute execute, the Trustee shall authenticate and the Paying Agent shall deliver, upon the surrender of such Bond, without charge to the Owner thereof, for the unredeemed balance of the Principal Amount principal amount of the registered Bond so surrenderedsurrendered at the option of the owner, registered Bonds of like Series, priority and maturity in any of the authorized denominationsAuthorized Denominations. If, on the redemption date, moneys for the redemption of all the Bonds or portions thereof of any like Series and 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 mailed as aforesaid, then, from and after the redemption date, interest on the Bonds or portions thereof of such maturity Series and maturities 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 as they would have borne had they not been called for redemption.not

Payment of Redeemed Bonds. Section 606 is hereby amended to delete reference to the requirements of publication of notice of redemption of Bonds and shall read as follows: Notice having been shall be 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)605, the Bonds or portions portion thereof so called for redemption shall become due and payable on the redemption date Redemption Date so designated at the Redemption Price, plus interest accrued and unpaid on such Bonds to the redemption dateRedemption Date, and, upon presentation and surrender thereof at the offices office specified in such notice, together with, in the case of Bonds presented by other than the Owner, with a written instrument of transfer duly executed by the Owner registered 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 dateRedemption Date. If there shall be called drawn for redemption less than all the entire principal amount of a registered Bond, the Authority Agency shall execute and the Trustee shall authenticate and deliver, upon the surrender of such Bond, without charge to the Owner owner thereof, for the unredeemed balance of the Principal Amount principal amount of the registered Bond so surrenderedsurrendered at the option of the holder, registered Bonds of like maturity and other terms in any of the authorized denominations. If, on the redemption dateRedemption Date, moneys for the redemption of all the Bonds or portions thereof of any like maturity and other terms to be redeemed, together with interest to the redemption dateRedemption 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, Redemption Date interest on the Bonds or portions thereof of such maturity and other terms so called for redemption shall cease to accrue and become payable. If said moneys shall not be so available on the redemption dateRedemption 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. Notice having been given by mail 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)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 on such Bonds to the redemption date, and, except as otherwise provided in Section 3.10 hereof upon presentation and surrender thereof of such Bonds, at the office or offices specified in such notice, together withand, in the case of Bonds presented by other than the Ownerregistered owner, together with a written instrument of transfer duly executed by the Owner registered owner or his attorney duly authorized in writingattorney, such Bonds, or portions thereof, shall be paid at the Redemption Price plus interest accrued and unpaid on such Bonds to the redemption date; provided, however, that payment of the Redemption Price may be paid by wire transfer to such registered owner if so authorized in the Supplemental Indenture that authorized the Bonds of the Series to be redeemed. If there shall be called for redemption less than all of the principal amount of a registered Bond, the Authority Corporation shall execute and the Trustee shall authenticate and deliver, upon the surrender of such Bond, without charge to the Owner owner thereof, for the unredeemed balance of the Principal Amount principal amount of the registered Bond so surrendered, registered Bonds of like Series, maturity and tenor in any of the authorized denominations. If, on the redemption date, moneys money for the redemption of all the Bonds or portions thereof of any like Series, maturity and tenor to be redeemed, together with interest accrued and unpaid thereon to the redemption date, shall be held by the Trustee and Paying Agent Agents so as to be available therefor on said such date and if notice of redemption shall have been given mailed 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 payablesuch Bonds shall no longer be considered to be Outstanding hereunder. If said moneys such money 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. Notice having been given mailed to the registered owner of the Bond or Bonds to be redeemed in the manner provided in Section 4.5 4.04 hereof, and, in the event of optional redemption pursuant to Section 4.01 (b) or (c) hereof, upon money being deposited as 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)required by Section 4.03 hereof, the Bonds or and 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, and upon presentation and surrender thereof at the offices place or places specified in such that 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 redemption price, including interest accrued and unpaid on such Bonds to the redemption date. If there The Trustee shall make a drawing under the Letter of Credit to pay the principal of and interest due on the Bonds being redeemed. Payment shall be called made by check mailed to the Holder at his address as it appears on the Bond Register on the fifteenth (15th) day of the month immediately prior to the date set for redemption less than all of a registered Bond, redemption. Any moneys received by the Authority shall execute and deliver, upon Trustee from the surrender Borrower which are available to be applied toward the payment of such Bondprincipal and interest, without charge shall be paid to the Owner thereofBank to reimburse the Bank for any drawing made under the Letter of Credit to pay such principal and interest. Subject to the provisions of Section 13.05 hereof, 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 if money for the redemption of all of the Bonds or and portions thereof of any like maturity to be redeemed, together with interest accrued thereon to the redemption date, shall be is held by the Trustee and or any Paying Agent on the redemption date, so as to be available therefor on said that date and if notice of redemption shall have has been given deposited in the mail to the registered owner of the Bond or Bonds to be redeemed as aforesaid, then, then from and after the redemption date, interest on the date those Bonds or and portions thereof of such maturity so called for redemption shall cease to accrue bear interest and become payableno longer shall be considered to be outstanding hereunder. If said those moneys shall not be so available on the redemption date, such or that notice shall not have been deposited in the mail as aforesaid, those Bonds or and portions thereof shall continue to bear interest interest, until paid they are paid, at the same rate or rates as they would have borne had they not been called for redemption. All moneys deposited in the Bond Fund and held by the Trustee or a Paying Agent 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 provided in Section 3.06 hereof.

Payment of Redeemed Bonds. Notice having been given by publication 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)605, the Bonds or portions portion thereof so called for redemption shall become due and payable on the redemption date Redemption Date so designated at the Redemption Price, plus interest accrued and unpaid on such Bonds to the redemption dateRedemption Date, and, upon presentation and surrender thereof at the offices office specified in such notice, together with, in the case of Bonds presented by other than the Owner, with a written instrument of transfer duly executed by the Owner registered 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 dateRedemption Date. If there shall be called drawn for redemption less than all the entire principal amount of a registered Bond, the Authority Agency shall execute and the Trustee shall authenticate and deliver, upon the surrender of such Bond, without charge to the Owner owner thereof, for the unredeemed balance of the Principal Amount principal amount of the registered Bond so surrenderedsurrendered at the option of the holder, registered Bonds of like maturity and other terms in any of the authorized denominations. If, on the redemption dateRedemption Date, moneys for the redemption of all the Bonds or portions thereof of any like maturity and other terms to be redeemed, together with interest to the redemption dateRedemption 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 published as aforesaid, then, from and after the redemption date, Redemption Date interest on the Bonds or portions thereof of such maturity and other terms so called for redemption shall cease to accrue and become payable. If said moneys shall not be so available on the redemption dateRedemption 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. Notice having been given mailed 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)3.03 hereof, the Bonds or and 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, and upon presentation and surrender thereof at the offices place or places specified in such that 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 redemption price, including interest accrued and unpaid on such Bonds to the redemption date. If there Upon the payment of the price of Bonds being redeemed or prepaid, each check or other transfer of funds issued for such purpose shall be called for redemption less than all of a registered Bondbear the CUSIP number identifying, by issue and maturity, the Authority shall execute and deliver, upon Bonds being redeemed or prepaid with the surrender proceeds 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 denominationscheck or other transfer. If, on the redemption date, moneys If money for the redemption of all of the Bonds or and portions thereof of any like maturity to be redeemed, together with interest accrued thereon to the redemption date, shall be is held by the Trustee and Paying Agent on the redemption date, so as to be available therefor on said that date and if notice of redemption shall have has been given deposited in the mail as aforesaid, then, then from and after the redemption date, interest on the date those Bonds or and portions thereof of such maturity so called for redemption shall cease to accrue bear interest and become payableno longer shall be considered to be Outstanding hereunder. If said moneys such money shall not be so available on the redemption date, such or that notice shall not have been deposited in the mail as aforesaid, those Bonds or and portions thereof shall continue to bear interest interest, until paid they are paid, at the same rate as they would have borne had they not been called for redemption. All money deposited in the Bond Fund and held by the Trustee for the redemption, purchase or prepayment 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.

Payment of Redeemed Bonds. Notice having If notice of redemption has been given in the manner as provided in Section 4.5 (and if said notice shall have been conditioned on the availability 8.02 of funds on the redemption date, then to the extent such funds are so available)this Indenture, the Bonds or portions thereof so called for redemption shall become be due and payable on the date fixed for redemption date so designated at the Redemption Price, plus interest accrued and unpaid on such Bonds to . Payment of 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 Redemption Price shall be made by the Owner or his attorney duly authorized in writing, Trustee upon surrender of such Bonds, or portions thereof, . The Redemption Price shall be paid at out of the Redemption Price plus interest accrued Bond Fund. The expense of giving notice and unpaid on such Bonds to any other expenses of redemption shall be paid by the redemption dateCompany. If there shall be called for redemption less than all the principal amount of a registered Bond, the Authority Issuer shall execute and deliverdeliver and the Trustee shall authenticate, upon the surrender of such Bond, and without charge to the Registered Owner thereof, at the option of the Registered Owner, registered Bonds of like Series and maturity date for the unredeemed balance portion of the Principal Amount principal amount of the registered Bond so surrendered. From and after the date fixed for redemption designated in such notice (deposit of the Redemption Price having been made with the Trustee and notice having been given or waived), registered notwithstanding that any Bonds so called for redemption in whole or in part shall not have been surrendered for cancellation, no further interest shall accrue upon the principal 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 redemption; and become payable. If said moneys shall not be so available on the redemption date, such Bonds or portions thereof so to be redeemed shall continue cease to bear interest until paid at be entitled to any lien, benefit or security under this Indenture, and the same rate they would Registered Owners thereof shall have borne had they not been called for redemptionno rights in respect of such Bonds or portions thereof except to receive payment of the Redemption Price thereof.