Purchase in Lieu of Redemption. Notwithstanding anything to the contrary 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. 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.
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Samples: Trust Indenture (York Water Co), Trust Indenture (York Water Co)
Purchase in Lieu of Redemption. Notwithstanding anything In the manner and subject to the contrary contained hereinconditions provided in the Indenture, 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. 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.
Appears in 2 contracts
Samples: Trust Indenture (York Water Co), Trust Indenture (York Water Co)
Purchase in Lieu of Redemption. Notwithstanding anything to the contrary 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. 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 and the Trustee shall receive a Favorable Opinion of Bond Counsel.
Appears in 1 contract
Samples: Trust Indenture (York Water Co)