Purchase in Lieu of Redemption. Unless otherwise provided in a Supplemental Bond Indenture, whenever Bonds are subject to redemption, they may instead be purchased at the option of the Borrower at a purchase price equal to the Redemption Price thereof plus interest accrued thereon to the redemption date. The Borrower shall give to the Trustee written notice thereof and of the Bonds of each subseries, maturity, Interest Period, and interest rate to be so purchased. The Trustee shall select the particular Bonds of such subseries and maturity to be so purchased in the same manner as provided in Section 4.02 for the selection of Bonds to be redeemed in part. Promptly thereafter, the Trustee shall give notice of the purchase of such Bonds at the times and in the manner provided in Section 4.03 for notice of redemption. All such purchases may be subject to conditions to the Borrower’s obligation to purchase such Bonds and shall be subject to the conditions that money for the payment of the purchase price therefor is available on the date set for such purchase and that such purchase shall be made solely with Available Money or funds paid by the Liquidity Facility Provider under the Liquidity Facility, if a Credit Facility is in effect. If such a purchase is a purchase in lieu of optional redemption and a Liquidity Facility is in effect on the date of purchase, such purchase in lieu of redemption shall also be conditioned on money sufficient to reimburse the Liquidity Facility Provider for the purchase price being delivered by the Borrower to the Trustee prior to the purchase date, and the Trustee shall give a notice of rescission of such purchase of Bonds on the date set for purchase to the same Persons that were given the notice of purchase if such funds have not been delivered prior to the date set for purchase. Notice of purchase having been given in the manner required above, then, if sufficient money to pay the purchase price of such Bonds or to reimburse the Liquidity Facility Provider therefor is held by the Trustee, the purchase price of the Bonds or portions thereof so called for purchase shall become due and payable on the date set for purchase, upon presentation and surrender of such Bonds (other than Book Entry Bonds) to be purchased at the office or offices specified in such notice, and, in the case of Bonds presented by a Person other than the Holder thereof, together with a written instrument of transfer duly executed by such Xxxxxx or his duly authorized attorney. Payment of the...
Purchase in Lieu of Redemption. In the manner and subject to the conditions provided in the Indenture, the Company may elect to purchase any Bonds that have been called for redemption hereof on the redemption date by giving the Trustee and the Issuer written notice at least two (2) Business Days prior to the date the Bonds are to be redeemed, provided that Bonds so purchased shall be retired. The principal amount of Bonds to be redeemed on the applicable redemption date shall be reduced by the amount of Bonds so purchased.
Purchase in Lieu of Redemption. When Bonds are subject to optional redemption hereunder, Bonds paid for by or on behalf of the Company shall be purchased in lieu of redemption on the applicable redemption date at a purchase price equal to the applicable redemption price, plus accrued interest thereon to but not including the date of such purchase, if the Trustee has received a written request on or before the Business Day prior to the date such Bonds would otherwise be subject to redemption from the Company specifying that the moneys provided or to be provided by such party shall be used to purchase such Bonds in lieu of redemption. Moneys received for such purchase shall be held by the Trustee in the General Account within the Bond Fund established under Section 6.01 for the Registered Owner of the Bonds so purchased. No purchase of Bonds by the Company pursuant to this Section 3.07 or advance or use of any moneys to effectuate any such purchase shall be deemed to be a payment or redemption of such Bonds or any portion thereof, and such purchase shall not operate to extinguish or discharge the indebtedness evidenced by such Bonds. No Bonds purchased pursuant to this Section 3.07 shall be required to be remarketed by the Remarketing Agent unless the Remarketing Agent specifically agrees to undertake such remarketing.”
Purchase in Lieu of Redemption. As provided in the Agreement, the Company has the right to purchase Bonds in lieu of the optional redemption described in this paragraph under “Optional Redemption During Long-Term Interest Rate Period”, “Optional Redemption During Daily or Weekly Rate Period” and “Optional Redemption During ARS Rate Period”.
Purchase in Lieu of Redemption. In the manner and subject to the conditions provided in the Indenture, the Company may elect to purchase any Bonds that have been called for redemption hereof on the redemption date by giving the Trustee and the Issuer written notice at least two (2) Business Days prior to the date the Bonds are to be redeemed. The principal amount of Bonds to be redeemed on the applicable redemption date shall be reduced by the amount of Bonds so purchased. Prior to the date that any such purchased Bonds are sold by the Company, the Company shall receive a Favorable Opinion of Bond Counsel.
Purchase in Lieu of Redemption. The Borrower shall have the option to cause the Bonds to be purchased by the Borrower or its designee in lieu of redemption pursuant to Section 6.1 and the Bondholder Representative or the Borrower shall have the option to cause the Bonds to be purchased in lieu of redemption pursuant to Sections 6.3 and 6.4 hereof. Such option may be exercised by delivery to the Trustee on or prior to the Business Day preceding the Redemption Date of a written notice of the Borrower or Bondholder Representative, as applicable, specifying that the Bonds shall not be redeemed, but instead shall be subject to purchase pursuant to this Section. Upon delivery of such notice, the Bonds shall not be redeemed but shall instead be subject to mandatory tender at the Purchase Price on the date that would have been the Redemption Date; provided that payment of such Purchase Price shall be made only in Eligible Funds.
Purchase in Lieu of Redemption. In accordance with Section 308 of the General Resolution, whenever 2022 Series __ Bonds are subject to redemption, they may instead be purchased, at the election of the Agency, at a purchase price equal to the Redemption Price plus accrued interest to the date of purchase. When the Trustee receives notice from the Agency of its election or direction to purchase 2022 Series __ Bonds in lieu of redemption, the Trustee will give notice, in the name of the Agency, of the purchase of such 2022 Series __ Bonds. Such notice will specify the maturities of the 2022 Series __ Bonds to be purchased, the date set for such purchase, any conditions precedent to such purchase and the place or places where amounts due upon such purchase will be payable. The provisions of Sections 306 and 308 of the General Resolution to the contrary notwithstanding, not less than twenty (20) days before the purchase date for such 2022 Series __ Bonds, the Trustee shall mail a copy of such notice, postage prepaid, to the registered Holders of any 2022 Series __ Bonds or portions of Bonds which are to be purchased at their last addresses appearing upon the registry books. The 2022 Series __ Bonds to be purchased shall be tendered on the purchase date to the Trustee. Any 2022 Series __ Bonds to be purchased that are not so tendered will be deemed to have been properly tendered for purchase.
Purchase in Lieu of Redemption. The Bonds are subject to optional call and purchase in whole prior to the Conversion Date on any Interest Payment Date upon the written direction of the Issuer, given at the request of the Lessee, which purchase may be in lieu of redemption, from moneys deposited with the Trustee sufficient for payment of 100% of the principal amount due upon such call together with accrued interest on the Bonds to the call date.
Purchase in Lieu of Redemption. At the election of the Borrower upon a redemption in whole of the Bonds, by written notice to the Trustee and the Servicer given not less than five (5) Business Days in advance of such redemption date, the Bonds will be deemed tendered for purchase in lieu of the redemption on such date. The purchase price of Bonds so purchased in lieu of redemption shall be the principal amount thereof together with all accrued and unpaid interest to the date of redemption and shall be payable on the date of redemption thereof. Bonds so purchased in lieu of redemption shall remain Outstanding and shall be registered to or upon the direction of the Borrower.
Purchase in Lieu of Redemption. In lieu of redemption of any Term Bond, amounts on deposit in the Revenue Fund or in the Sinking Account therein may also be used and withdrawn by the Trustee at any time, upon the Request of the Agency, for the purchase of such Term Bonds at public or private sale as and when and at such prices (including brokerage and other charges, but excluding accrued interest, which is payable from the Interest Fund) as the Agency may in its discretion determine, but not in excess of the principal amount thereof plus accrued interest to the purchase date. The principal amount of any Term Bonds so purchased by the Trustee in any twelve-month period ending 60 days prior to any Principal Payment Date in any year shall be credited towards and shall reduce the principal amount of such Term Bonds required to be redeemed on such Principal Payment Date in such year.
