Common use of Payment of Redeemed Bonds Clause in Contracts

Payment of Redeemed Bonds. (a) Except as otherwise provided in Section 4.3 for conditional notices of optional redemption or in the Related Series Supplement, if notice of redemption has been given as provided in Section 4.3, the Bonds called for redemption shall be due and payable on the date fixed for redemption at a redemption price equal to the principal amount of and premium, if any, on the Bonds, together with accrued interest to the date fixed for redemption. Payment of the redemption price shall be made by the Trustee upon surrender of the Bonds, if funds are on deposit for that purpose. If less than the full principal amount of a Bond is called for redemption, NVTC shall execute and deliver and the Trustee shall authenticate, upon surrender of the Bond, and without charge to the Owner, Bonds of the same Series for the unredeemed portion of the principal amount of the Bond so surrendered. (b) If any Bond has been duly called for redemption and payment of the principal of and premium, if any, and unpaid interest accrued to the date fixed for redemption on the Bond has been made or provided for, then, notwithstanding that the Bond called for redemption has not been surrendered for cancellation, interest on the Bond shall cease to accrue from the date fixed for redemption. In addition, from and after the date fixed for redemption, the Bond shall no longer be entitled to any lien, benefit or security under this Master Indenture, and its Owner shall have no rights in respect of the Bond except to receive payment of the principal of and premium, if any, and unpaid interest accrued to the date fixed for redemption of the Bond.

Payment of Redeemed Bonds. (a) Except as otherwise provided in Section 4.3 for conditional notices of optional redemption or in the Related Series Supplement, if If notice of redemption has been given as provided in Section 4.34.6, the Bonds called for redemption shall will be due and payable on the date fixed for redemption at a redemption price equal to the principal amount of and premium, if any, on the Bonds, together with accrued interest to the date fixed for redemption. Payment of the redemption price shall will be made by the Trustee Paying Agent upon surrender of the Bonds, if funds are on deposit for that purpose. If less than the full principal amount of a Bond of a series and maturity is called for redemption, NVTC shall the Authority will execute and deliver and the Trustee shall Paying Agent will authenticate, upon surrender of the Bond, and without charge to the Owner, Bonds of the same Series for the unredeemed portion of the principal amount of the Bond so surrendered. (b) . If any Bond has been duly called for redemption and payment of the principal of and premium, if any, and unpaid interest accrued to the date fixed for redemption on the Bond has been made or provided for, then, notwithstanding that the Bond called for redemption has not been surrendered for cancellation, interest on the Bond shall will cease to accrue from the date fixed for redemption. In additionredemption date, and, from and after the date fixed for redemptionredemption date, the Bond shall will no longer be entitled to any lien, benefit or security under this Master Indenture, and its Owner shall will have no rights in respect of the Bond except to receive payment of the principal of and redemption premium, if any, and unpaid interest accrued to the date fixed for redemption of on the Bond.

Payment of Redeemed Bonds. (a) Except as otherwise provided in Section 4.3 for conditional notices of optional redemption or in the Related Series Supplement, if notice of redemption has been given as provided in Section 4.3, the Bonds called for redemption shall be due and payable on the date fixed for redemption at a redemption price equal to the principal amount of and premium, if any, on the Bonds, together with accrued interest to the date fixed for redemption. Payment of the redemption price shall be made by the Trustee upon surrender of the Bonds, if funds are on deposit for that purpose. If less than the full principal amount of a Bond is called for redemption, NVTC HRTAC shall execute and deliver and the Trustee shall authenticate, upon surrender of the Bond, and without charge to the Owner, Bonds of the same Series for the unredeemed portion of the principal amount of the Bond so surrendered. (b) If any Bond has been duly called for redemption and payment of the principal of and premium, if any, and unpaid interest accrued to the date fixed for redemption on the Bond has been made or provided for, then, notwithstanding that the Bond called for redemption has not been surrendered for cancellation, interest on the Bond shall cease to accrue from the date fixed for redemption. In addition, from and after the date fixed for redemption, the Bond shall no longer be entitled to any lien, benefit or security under this Master Indenture, and its Owner shall have no rights in respect of the Bond except to receive payment of the principal of and premium, if any, and unpaid interest accrued to the date fixed for redemption of the Bond.

Payment of Redeemed Bonds. (a) Except as otherwise provided in Section 4.3 for conditional notices Upon the giving of optional redemption or in the Related Series Supplement, if notice of redemption has been given as provided in Section 4.3501, the Bonds or portions thereof called for redemption shall be due and payable on the date fixed for redemption at a redemption price equal to the principal amount of and premium, if any, on the Bonds, together with accrued interest to the date fixed for redemptionRedemption Price. Payment of the redemption price Redemption Price shall be made by the Trustee Company upon surrender of such Bonds. The expense of giving notice and any other expenses of redemption shall be paid by the Company. If there shall be called for redemption less than the principal amount of the Bonds, if funds are on deposit for that purpose. If less than the full principal amount of a Bond is called for redemption, NVTC Issuer shall execute and deliver and the Trustee shall authenticate, upon surrender of the Bondsuch Bonds, and without charge to the Ownerregistered owner thereof, at the option of the registered owner, registered Bonds of the same Series like Maturity Date for the unredeemed portion of the principal amount of the Bond Bonds so surrendered. (b) If any Bond has been duly called for redemption and payment of the principal of and premium, if any, and unpaid interest accrued to the date fixed for redemption on the Bond has been made or provided for, then, notwithstanding that the Bond called for redemption has not been surrendered for cancellation, interest on the Bond shall cease to accrue from the date fixed for redemption. In addition, from From and after the date fixed for redemption designated in such notice, notwithstanding that the 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 the Bonds or portions thereof so called for redemption, the Bond Bonds thereof to be redeemed shall no longer cease to be entitled to any lien, benefit or security under this Master Indenture, and its Owner the registered owner(s) thereof shall have no rights in respect of the Bond to such Bonds or portions thereof, except to receive payment of the principal of and premium, if any, and unpaid interest accrued to the date fixed for redemption of the BondRedemption Price thereof.