Common use of Purchase of Bonds in Whole in Lieu of Redemption Clause in Contracts

Purchase of Bonds in Whole in Lieu of Redemption. Notwithstanding anything in this Indenture to the contrary, at any time that the Bonds are subject to redemption in whole pursuant to the provisions of this Indenture, all (but not less than all) of the Bonds to be redeemed may be purchased by the Trustee (for the account of the Borrower or the Credit Facility Provider or their respective designee, as directed by such party) on the date which would be the redemption date at the direction of the Credit Facility Provider or the Borrower, with the prior written consent of the Credit Facility Provider (which direction shall specify that such purchase is pursuant to this Section 3.06), who shall give the Trustee at least one Business Day’s notice prior to such redemption date, at a purchase price equal to the redemption price which would have been applicable to such Bonds on the redemption date. The Bonds shall be purchased in lieu of redemption only from amounts provided by the Credit Facility Provider or from other Eligible Funds, in that order of priority. In the event the Trustee is so directed to purchase Bonds in lieu of redemption, no notice to the holders of the Bonds to be so purchased (other than the notice of redemption otherwise required hereunder) shall be required, and the Trustee shall be authorized to apply to such purpose the funds in the Redemption Account which would have been used to pay the redemption price for such Bonds if such Bonds had been redeemed rather than purchased. Such Bonds so purchased for the account of the Borrower shall for all purposes under this Indenture constitute Purchased Bonds held by the Custodian pursuant to the Pledge Agreement and may be remarketed, so long as the Credit Facility is then in effect with respect to the Bonds, by the Remarketing Agent in accordance with the provisions of Section 10.03. In addition, the Credit Facility Provider shall have the right to transfer the Purchased Bonds (without reinstatement of the then existing Credit Facility or delivery to the Trustee of an Alternate Credit Facility, which will result in such Bonds being unrated) only to a single Bondholder which has provided the Trustee with an investment letter in the form attached to this Indenture as Exhibit C (and otherwise subject to the provisions of Section 2.12(g) hereof), provided that an opinion of Bond Counsel is delivered to the Trustee to the effect that such transfer will not adversely affect the exclusion from gross income for federal income tax purposes of interest on the Bonds. Such Purchased Bonds shall not be transferred unless and until the Credit Facility is reinstated, except to a single Bondholder which has provided the Trustee with an investment letter in the form attached to this Indenture as Exhibit C, and if not remarketed or transferred as provided herein, shall be redeemed and cancelled automatically by the Trustee on the date which is two (2) years from the date of purchase, unless an opinion of Bond Counsel is delivered to the Trustee to the effect that not redeeming and canceling such Purchased Bonds will not adversely affect the exclusion from gross income for federal income tax purposes of interest on the Bonds. Any purchase of Bonds hereunder is not intended as an extinguishment of the debt represented by the Bonds.

Purchase of Bonds in Whole in Lieu of Redemption. Notwithstanding anything in this Indenture to the contrary, at any time that the Bonds are subject to redemption in whole or, in the case of a redemption pursuant to Section 3.01(b)(vii), in part pursuant to the provisions of this Indenture, all (but not less than allall except in the case of a partial redemption pursuant to Section 3.01(b)(vii)) of the Bonds to be redeemed may be purchased by the Trustee (for the account of the Borrower or the Credit Facility Provider or their respective designee, as directed by such party) on the date which would be the redemption date at the direction of the Credit Facility Provider or the Borrower, with the prior written consent of the Credit Facility Provider (which direction shall specify that such purchase is pursuant to this Section 3.06)3.06 and shall be given no later than 12:00 noon, who shall give the Trustee at least one Business Day’s notice prior to Washington, D.C., time on such redemption date), at a purchase price equal to the redemption price which would have been applicable to such Bonds on the redemption date. The Bonds shall be purchased in lieu of redemption only from amounts provided by the Credit Facility Provider or from other Eligible Funds, in that order of priority. In the event the Trustee is so directed to purchase Bonds in lieu of redemption, no notice to the holders of the Bonds to be so purchased (other than the notice of redemption otherwise required hereunder) shall be required, and the Trustee shall be authorized to apply to such purpose the funds in the Redemption Account Fund which would have been used to pay the redemption price for such Bonds if such Bonds had been redeemed rather than purchased. Such Bonds so purchased for the account of the Borrower shall for all purposes under this Indenture constitute Purchased Bonds held by the Custodian pursuant to the Pledge Agreement and may be remarketed, so long as the Credit Facility is then in effect with respect to the Bonds, remarketed by the Remarketing Agent in accordance with the provisions of Section 10.03. Article X. In addition, the Credit Facility Provider shall have the right to direct the transfer the of Purchased Bonds (without reinstatement of the then existing Credit Facility or delivery to the Trustee of an Alternate Credit Facility, which will result in such Bonds being unrated) only to the Credit Facility Provider or any subsidiary of the Credit Facility Provider, or to a single Bondholder which has provided the Trustee with an investment letter in the form attached to this Indenture as Exhibit C (and otherwise subject to the provisions of Section 2.12(g) hereof), provided that any transfer to a single Bondholder as described above shall require delivery of an opinion of Bond Counsel is delivered to the Trustee to the effect that such transfer will not adversely affect the exclusion from gross income for federal income tax purposes of interest on the Bonds. Such Purchased Bonds shall not be transferred unless and until the Credit Facility is reinstatedBonds, except to a single Bondholder which has provided the Trustee with an investment letter in the form attached to this Indenture as Exhibit C, and if not remarketed or transferred as provided herein, shall be redeemed and cancelled automatically by the Trustee on the date which is not later than two (2) years from the date of purchase, unless an opinion of Bond Counsel is delivered to the Trustee to the effect that not redeeming and canceling such Purchased Bonds will not adversely affect the exclusion from gross income for federal income tax purposes of interest on the Bonds. Any purchase of Bonds hereunder is not intended as an extinguishment of the debt represented by the Bonds.

Purchase of Bonds in Whole in Lieu of Redemption. Notwithstanding anything in this Indenture to the contrarycontrary but subject to Section 3.08 hereof, at any time that the Bonds are subject to redemption in whole pursuant to the provisions of this Indenture, all (but not less than all) of the Bonds to be redeemed may be purchased by the Trustee (for the account of the Borrower or the Credit Facility Provider or their respective designee, as directed by such party) on the date which would be the redemption date at the direction of the Credit Facility Provider or the Borrower, with the prior written consent of the Credit Facility Provider (which direction shall specify that such purchase is pursuant to this Section 3.06)3.06 and shall be given no later than 5:00 p.m., who shall give Washington, D.C. time on the Trustee at least one Business Day’s notice Day immediately prior to such redemption date), at a purchase price equal to the redemption price which would have been applicable to such Bonds on the redemption date. The Bonds shall be purchased in lieu of redemption only from amounts provided by the Credit Facility Provider or from other Eligible Funds, in that order of priority. In the event the Trustee is so directed to purchase Bonds in lieu of redemption, no notice to the holders of the Bonds to be so purchased (other than the notice of redemption otherwise required hereunder) shall be required, and the Trustee shall be authorized to apply to such purpose the funds in the Redemption Account Fund which would have been used to pay the redemption price for such Bonds if such Bonds had been redeemed rather than purchased. Such Bonds so purchased for the account of the Borrower shall for all purposes under this Indenture constitute Purchased Bonds held by the Custodian pursuant to the Pledge Agreement and may be remarketed, so long as the Credit Facility is then in effect with respect to the Bonds, by the Remarketing Agent in accordance with the provisions of Section 10.03Agreement. In addition, the The Credit Facility Provider shall have the right to direct the transfer the of Purchased Bonds (without reinstatement of the then existing Credit Facility or delivery to the Trustee of an Alternate Credit Facility, which will result in such Bonds being unrated) only to the Credit Facility Provider or any subsidiary of the Credit Facility Provider, or to a single Bondholder which has provided the Trustee with an investment letter in the form attached to this Indenture as Exhibit C (and otherwise subject to the provisions of Section 2.12(g) hereof), provided that any transfer to a single Bondholder as described above shall require delivery of an opinion of Bond Counsel is delivered to the Trustee to the effect that such transfer will not adversely affect the exclusion from gross income for federal income tax purposes of interest on the Bonds. Such Purchased Bonds shall not be transferred unless and until the Credit Facility is reinstatedBonds, except to a single Bondholder which has provided the Trustee with an investment letter in the form attached to this Indenture as Exhibit C, and if not remarketed or transferred as provided herein, shall be deemed redeemed and cancelled automatically by the Trustee on the date which is not later than two (2) years from the date of purchase, unless an opinion of Bond Counsel is delivered to the Trustee to the effect that not redeeming and canceling such Purchased Bonds will not adversely affect the exclusion from gross income for federal income tax purposes of interest on the Bonds. Any purchase of Bonds hereunder is not intended as an extinguishment of the debt represented by the Bonds.