Common use of Purchase in Lieu of Redemption Clause in Contracts

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.

Appears in 2 contracts

Samples: Trust Indenture (York Water Co), Trust Indenture (York Water Co)

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Purchase in Lieu of Redemption. In the manner and subject Notwithstanding anything to the conditions provided in the Indenturecontrary contained herein, the Company may elect to purchase from the Owners any Bonds that have been called for redemption under Section 5.1 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 and such 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.

Appears in 2 contracts

Samples: Trust Indenture (York Water Co), Trust Indenture (York Water Co)

Purchase in Lieu of Redemption. In the manner and subject Notwithstanding anything to the conditions provided in the Indenturecontrary contained herein, the Company may elect to purchase from the Owners any Bonds that have been called for redemption under Section 5.1 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 retiredretired and not remarketed. The principal amount of Bonds to be redeemed on the applicable redemption date shall be reduced by the amount of Bonds so purchased.

Appears in 2 contracts

Samples: Trust Indenture (York Water Co), Trust Indenture (York Water Co)

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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 retiredretired and not remarketed. The principal amount of Bonds to be redeemed on the applicable redemption date shall be reduced by the amount of Bonds so purchased.

Appears in 1 contract

Samples: Trust Indenture (York Water Co)

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