Common use of Prepayment of Base Rental Payments Clause in Contracts

Prepayment of Base Rental Payments. (a) The City may prepay, from eminent domain proceeds or net insurance proceeds received by it, all or any portion of the Base Rental payments then unpaid, in whole on any date, or in part on any date in amounts which result in Bonds being redeemed in integral multiples of five thousand dollars ($5,000) so that the aggregate annual amount of Bonds maturing in each year after such prepayment date shall each be in an integral multiple of five thousand dollars ($5,000), at a prepayment price equal to the sum of the principal components prepaid plus accrued interest on the corresponding Bonds to the date of their redemption. Such prepayment shall be apportioned among Base Rental payments such that Bonds will be redeemed on a proportionate basis among maturities. (b) The City shall have the right, at any time during which the Bonds are Outstanding, to prepay all or any part of the Base Rental payments, and the Authority agrees that the Trustee shall accept such prepayments when the same are tendered by the City. All such prepayments (and the additional payment of any amount necessary to pay the applicable premiums, if any, payable upon the redemption of Bonds) shall be deposited upon receipt in the Revenue Fund (or an account established within the Revenue Fund), and applied to redeem or purchase Bonds, or to pay Bonds upon the maturity thereof, pursuant to the Trust Agreement, provided that any such prepayment shall be in an amount, together with interest earnings thereon, sufficient to redeem or pay at maturity the applicable Bonds on the applicable redemption or maturity date or dates, and to pay interest on said Bonds through such redemption or maturity date or dates. The City also shall have the right to surrender Bonds acquired by it in any manner whatsoever to the Trustee for cancellation and such Bonds, upon such surrender and cancellation, shall be deemed to be paid and surrendered, and shall be allocated to Base Rental payments as specified in writing by the City. Notwithstanding any such prepayment or surrender of Bonds, as long as any Bonds remain Outstanding or any Additional Rental remains unpaid, the City shall not be relieved of its obligations hereunder. Base Rental payments due after any such partial prepayment shall be in the amounts necessary to pay debt service, when due, on the Bonds remaining Outstanding after such prepayment. In the event the City deposits with the Trustee the full amount of any prepayment of the Base Rental payments pursuant to this Section 3.09(b), the Authority shall, if applicable, at the request of the City forthwith take all steps that may be necessary under Section 4.01(b) of the Trust Agreement to cause the redemption of all or a portion of Bonds under and in accordance with Section 4.01(b) of the Trust Agreement. If the City is not in default in the payment of any Additional Rental, the Authority, at the request of the City, at any time that there is on deposit with the Trustee moneys or securities in the amount necessary to pay or redeem all Bonds then Outstanding (as provided in Article X of the Trust Agreement), shall forthwith take all steps that may be necessary to discharge the entire indebtedness on all Bonds Outstanding. (c) Before making any prepayment pursuant to this section, the City shall, within five

Prepayment of Base Rental Payments. (a) The Subject to the provisions of Section 7.01 hereof, the City may prepay, from eminent domain proceeds or net insurance proceeds Net Proceeds received by itit pursuant to Section 7.01 hereof, all or any portion of the Base Rental payments then unpaid, in whole Payments due on any Principal Payment Date on any date, in whole or in part on any date part, in amounts which result in Bonds being redeemed in integral multiples of five thousand dollars ($5,000) Authorized Denomination so that the aggregate annual amount amounts of Bonds maturing in each year Base Rental Payments due on the Principal Payment Date which shall be payable after such prepayment date shall each be in an integral multiple of five thousand dollars ($5,000), at a prepayment price equal to the sum of the principal components prepaid plus accrued interest on the corresponding Bonds to the date of their redemption. Such an Authorized Denomination and such prepayment shall be apportioned as nearly proportional as practicable among the Base Rental payments such that Bonds will Payments remaining to be redeemed paid on a proportionate basis among maturities. (b) the Principal Payment Dates. The City shall have may prepay, from any source of available moneys other than Net Proceeds and in accordance with the rightprovisions of Section 4.06 and Section 5.03(f) of the Indenture, at any time during which the Bonds are Outstanding, to prepay all or any part (in an integral multiple of an Authorized Denomination) of the Base Rental payments, and the Authority agrees that the Trustee shall accept such prepayments when the same are tendered by the City. All such prepayments (and the additional payment of any amount necessary to pay the applicable premiums, if any, payable upon the redemption of Bonds) shall be deposited upon receipt in the Revenue Fund (or an account established within the Revenue Fund), and applied to redeem or purchase Bonds, or to pay Bonds upon the maturity thereof, pursuant to the Trust Agreement, provided that any such prepayment shall be in an amount, together with interest earnings thereon, sufficient to redeem or pay at maturity the applicable Bonds Payments due on the applicable redemption or maturity date or dates, and to pay interest on said Bonds through such redemption or maturity date or datesPrincipal Payment Dates then unpaid. The City also shall have may, in its sole discretion, designate the right to surrender Bonds acquired by it in any manner whatsoever to particular Base Rental Payments due on the Trustee for cancellation and such Bonds, upon such surrender and cancellation, shall be deemed principal Payment Dates to be paid and surrendered, and shall be allocated to Base Rental payments as specified in writing by the Cityprepaid. Notwithstanding any such prepayment or surrender of Bonds, as long as any Bonds remain Outstanding or any Additional Rental remains unpaid, the City shall not be relieved of its obligations hereunder. Base Rental payments due after any such partial prepayment shall be in the amounts necessary to pay debt service, when due, on the Bonds remaining Outstanding after such prepayment. In the event the City deposits with the Trustee the full The amount of any prepayment of the Base Rental payments Payments pursuant to this Section 3.09(b), the Authority shall, if applicable, at the request of the City forthwith take all steps that may shall be necessary under Section 4.01(b) of the Trust Agreement to cause the redemption of all or a portion of Bonds under and in accordance with Section 4.01(b) of the Trust Agreement. If the City is not in default in the payment of any Additional Rental, the Authority, at the request of the City, at any time that there is on deposit with the Trustee moneys or securities in the amount necessary to pay or redeem all Bonds then Outstanding on the next available redemption date (as provided in Article X after making allowance for the preparation of and giving of the Trust Agreement)notices of redemption required by the Indenture) that principal amount of Bonds which were to be paid with the Base Rental Payments being prepaid, shall forthwith take all steps that may be necessary including any redemption premium due on such redemption and interest accruing on such Bond to discharge the entire indebtedness on all Bonds Outstanding. (c) applicable redemption date. Before making any prepayment pursuant to this sectionSection, at least 45 days before the prepayment date the City shallshall give written notice to the Authority and the Trustee describing such event, within fivespecifying amount of Base Rental Payments due on each of the remaining Principal Payment Dates to be prepaid and specifying the date on which the prepayment will be made, which date shall be not less than 30 nor more than 60 days from the date such written notice is given to the Authority and the Trustee.

Prepayment of Base Rental Payments. (a) The City County may prepay, from eminent domain proceeds or net insurance proceeds received by itit pursuant to Section 7.01 hereof, all or any portion of the components of Base Rental payments Payments payable hereunder relating to any portion of the Leased Property then unpaid, unpaid (i) in whole on any datedate at a prepayment amount equal to the principal component outstanding plus accrued interest thereon to the date of prepayment plus any applicable premium to be paid on any Series 2018A Bonds of Additional Bonds to be redeemed with such prepayment ( the “Applicable Premium”), or (ii) in part on any date in amounts which result in Bonds being redeemed in integral multiples of five thousand dollars ($5,000) an Authorized Denomination so that the aggregate annual amount amounts of principal components of Base Rental Payments payable under this Facility Lease represented by the Series 2018A Bonds maturing in each year and any Additional Bonds which shall be payable after such prepayment date shall each be in an integral multiple of five thousand dollars ($5,000)an Authorized Denomination and shall be as nearly proportional as practicable to the aggregate annual amounts of principal components represented by the Series 2018A Bonds and any Additional Bonds unpaid prior to the prepayment date, at a prepayment price amount equal to the sum principal component prepaid plus accrued interest thereon to the date of prepayment plus any Applicable Premium. The County may prepay, from any source of available moneys, all or any portion of the components of Base Rental Payments payable hereunder relating to any portion of the Leased Property then unpaid (i) in whole on any date at a prepayment amount equal to the principal component outstanding plus accrued interest thereon to the date of prepayment plus any Applicable Premium, or (ii) in part of the principal components of Base Rental Payments payable under this Facility Lease then unpaid so that the aggregate annual amounts of principal components of Base Rental Payments under this Facility Lease which shall be payable after such prepayment date shall each be in an integral multiple of an Authorized Denomination and shall be as nearly proportional as practicable to the aggregate annual amounts of principal components represented by the Series 2018A Bonds and any Additional Bonds unpaid prior to the prepayment date, at a prepayment amount equal to the principal component prepaid plus accrued interest on the corresponding Bonds thereon to the date of their redemptionprepayment plus any Applicable Premium. Such prepayment shall be apportioned among Base Rental payments such that Bonds will be redeemed on a proportionate basis among maturities. (b) The City shall have the right, at any time during which the Bonds are Outstanding, to prepay all or any part of the Base Rental payments, and the Authority agrees that the Trustee shall accept such prepayments when the same are tendered by the City. All such prepayments (and the additional payment of any amount necessary to pay the applicable premiums, if any, payable upon the redemption of Bonds) shall be deposited upon receipt in the Revenue Fund (or an account established within the Revenue Fund), and applied to redeem or purchase Bonds, or to pay Bonds upon the maturity thereof, pursuant to the Trust Agreement, provided that any such prepayment shall be in an amount, together with interest earnings thereon, sufficient to redeem or pay at maturity the applicable Bonds on the applicable redemption or maturity date or dates, and to pay interest on said Bonds through such redemption or maturity date or dates. The City also shall have the right to surrender Bonds acquired by it in any manner whatsoever to the Trustee for cancellation and such Bonds, upon such surrender and cancellation, shall be deemed to be paid and surrendered, and shall be allocated to Base Rental payments as specified in writing by the City. Notwithstanding any such prepayment or surrender of Bonds, as long as any Bonds remain Outstanding or any Additional Rental remains unpaid, the City shall not be relieved of its obligations hereunder. Base Rental payments due after any such partial prepayment shall be in the amounts necessary to pay debt service, when due, on the Bonds remaining Outstanding after such prepayment. In the event the City deposits with the Trustee the full amount of any prepayment of the Base Rental payments pursuant to this Section 3.09(b), the Authority shall, if applicable, at the request of the City forthwith take all steps that may be necessary under Section 4.01(b) of the Trust Agreement to cause the redemption of all or a portion of Bonds under and in accordance with Section 4.01(b) of the Trust Agreement. If the City is not in default in the payment of any Additional Rental, the Authority, at the request of the City, at any time that there is on deposit with the Trustee moneys or securities in the amount necessary to pay or redeem all Bonds then Outstanding (as provided in Article X of the Trust Agreement), shall forthwith take all steps that may be necessary to discharge the entire indebtedness on all Bonds Outstanding. (c) Before making any prepayment pursuant to this sectionSection, at least 45 days before the City shallprepayment date the County shall give written notice to the Corporation and the Trustee describing such event, within fivespecifying the order of principal components of the Base Rental Payments being prepaid and specifying the date on which the prepayment will be made, which date shall be not less than 30 nor more than 60 days from the date such written notice is given to the Corporation and the Trustee. Any notices required in connection with any prepayment hereunder may be waived by the parties hereto as and to the extent necessary.

Prepayment of Base Rental Payments. (a) The City may prepay, from eminent domain proceeds or net insurance proceeds received by itit pursuant to Section 9 .01 of the Master Project Lease, all or any portion of the OHS West:260094513.5 11 principal components of Base Rental payments Payments then unpaid, in as a whole on any date, date or in part on any date in amounts which result in Bonds being redeemed in integral multiples of five thousand dollars ($5,000) so that the aggregate annual amount amounts of Bonds maturing in each year principal components of Base Rental Payments which shall be payable after such prepayment date shall each be in an integral multiple of five thousand dollars ($5,000) and shall be as nearly proportional as practicable to the aggregate annual amounts of principal components of Base Rental Payments then unpaid, at the following prepayment prices: (i) in the case of Base Rental Payments related to Series _ Bonds to be so redeemed, at a prepayment price equal to the greater of (a) the principal amount of such Series _ Bonds to be redeemed and (b) one hundred percent (100%) of the Amortized Value (as defined in the Indenture) of such Series _ Bonds to be redeemed, plus accrued and unpaid interest to the date of redemption and (ii) in the case of Base Rental Payments related to Series _ Bonds to be so redeemed, at a prepayment price equal to the Make Whole Redemption Price (as defined in the Indenture). (b) The City may prepay, from any source of available funds, all or any portion of the principal components of Base Rental Payments related to Series _ Bonds due on the Principal Payment Dates on or after December 1, , as a whole on any date on or after December 1, , or in part in such amounts in integral multiples of five thousand dollars ($5,000 ) and from such series and maturities as are selected by the Treasurer of the City on any date on or after December 1, , at a prepayment price equal to the sum of the principal components prepaid plus accrued interest on the corresponding Bonds thereon to the date of their redemptionprepayment, without a prepayment premium. Such prepayment shall be apportioned among Base Rental payments such that Bonds will be redeemed on a proportionate basis among maturities. (b) The City shall have the rightmay prepay, at from any time during which the Bonds are Outstandingsource of available funds, to prepay all or any part portion of the principal components of Base Rental payments, Payments related to Series _ Bonds due on the Principal Payment Dates as a whole or in part on any date in such amounts in integral multiples of five thousand dollars ($5,000) and the Authority agrees that the Trustee shall accept from such prepayments when the same series and maturities as are tendered selected by the City. All such prepayments (and the additional payment of any amount necessary to pay the applicable premiums, if any, payable upon the redemption of Bonds) shall be deposited upon receipt in the Revenue Fund (or an account established within the Revenue Fund), and applied to redeem or purchase Bonds, or to pay Bonds upon the maturity thereof, pursuant to the Trust Agreement, provided that any such prepayment shall be in an amount, together with interest earnings thereon, sufficient to redeem or pay at maturity the applicable Bonds on the applicable redemption or maturity date or dates, and to pay interest on said Bonds through such redemption or maturity date or dates. The City also shall have the right to surrender Bonds acquired by it in any manner whatsoever to the Trustee for cancellation and such Bonds, upon such surrender and cancellation, shall be deemed to be paid and surrendered, and shall be allocated to Base Rental payments as specified in writing by the City. Notwithstanding any such prepayment or surrender of Bonds, as long as any Bonds remain Outstanding or any Additional Rental remains unpaid, the City shall not be relieved of its obligations hereunder. Base Rental payments due after any such partial prepayment shall be in the amounts necessary to pay debt service, when due, on the Bonds remaining Outstanding after such prepayment. In the event the City deposits with the Trustee the full amount of any prepayment of the Base Rental payments pursuant to this Section 3.09(b), the Authority shall, if applicable, at the request Treasurer of the City forthwith take all steps that may be necessary under Section 4.01(b) of on any date at a prepayment price equal to the Trust Agreement to cause the redemption of all or a portion of Bonds under and in accordance with Section 4.01(b) of the Trust Agreement. If the City is not in default Make Whole Redemption Price (as defined in the payment of any Additional Rental, the Authority, at the request of the City, at any time that there is on deposit with the Trustee moneys or securities in the amount necessary to pay or redeem all Bonds then Outstanding (as provided in Article X of the Trust AgreementIndenture), shall forthwith take all steps that may be necessary to discharge the entire indebtedness on all Bonds Outstanding. (c) . Before making any prepayment pursuant to this section, the City shall, within fivefive (5) Business Days following the event creating such right or obligation to prepay, give written notice to the Authority and the Trustee describing such event and specifying the date on which the prepayment will be made, which date shall be not less than seventy-five (75) days from the date such notice is given.