Common use of Redemption Dates and Prices Clause in Contracts

Redemption Dates and Prices. (a) The Issuer shall have the right, at its option, to redeem, according to the procedure hereinafter provided, the Series 20 Bonds maturing on or after , 20 , in whole or in part, in any order of maturity or maturities selected by the Issuer and by lot within any maturity, on any date not earlier than , 20 , at face value, plus interest accrued to the date fixed for redemption and without premium (b) The Series 20 Bonds are subject to extraordinary redemption prior to maturity, without premium, from proceeds of condemnation in certain circumstances as described in Section 6.9 and 6.10 hereof. (c) From moneys held in the Bond Fund, the Series 20 Bonds maturing on , 20 , are subject to mandatory sinking fund redemption prior to maturity on the dates shown below, plus accrued interest and without premium: * Final Maturity The Trustee shall credit against the mandatory sinking fund requirement for any Term Bonds, and corresponding mandatory sinking fund redemption obligation, in the order determined by the Issuer, any such Term Bonds which have previously been redeemed (otherwise than as a result of a previous mandatory sinking fund redemption requirement) or delivered to the Trustee, the Registrar or the Paying Agent for cancellation or purchased for cancellation by the Trustee and not theretofore applied as a credit against any redemption obligation. Each Term Bond so delivered or canceled shall be credited by the Trustee at 100% of the principal amount thereof against the mandatory sinking fund obligation on such mandatory sinking fund redemption date, and any excess of such amount shall be credited on future redemption obligations, and the principal amount of Term Bonds to be redeemed by operation of the mandatory sinking fund requirement shall be accordingly reduced; provided, however, the Trustee, the Registrar or the Paying Agent shall only credit such Term Bonds to the extent received on or before forty-five (45) days preceding the applicable mandatory sinking fund redemption date stated above.

Redemption Dates and Prices. (a) The Issuer shall have the right, at its option, to redeem, according to the procedure hereinafter provided, the Series 20 Bonds maturing on or after 1, 20 , are subject to redemption at the option of the Issuer on any date on or after , 1, 20 , in whole or in part, in any order of maturity or maturities selected determined by the Issuer and by lot within any maturity, on any date not earlier than , 20 maturities, at face value, plus accrued interest accrued to the date fixed for redemption and without premium. (b) The Series 20 Bonds are subject to extraordinary redemption prior to maturity, without premium, from proceeds of condemnation in certain circumstances as described in Section 6.9 and 6.10 hereof. (c) From moneys held in the Bond Fund, the Series 20 Bonds maturing on 1, 20 , 1, 20 , and 1, 20 , are subject to mandatory sinking fund redemption prior to maturity on the dates shown belowand in the amounts set forth below at a price equal to 100% of the principal amount to be redeemed, plus accrued interest and without premiumto the date of redemption: * Final Maturity The Trustee shall credit against the mandatory sinking fund requirement for any Term Bonds, and corresponding mandatory sinking fund redemption obligation, in the order determined by the Issuer, any such Term Bonds which have previously been redeemed (otherwise than as a result of a previous mandatory sinking fund redemption requirement) or delivered to the Trustee, the Registrar or the Paying Agent for cancellation or purchased for cancellation by the Trustee and not theretofore applied as a credit against any redemption obligation. Each Term Bond so delivered or canceled shall be credited by the Trustee at 100% of the principal amount thereof against the mandatory sinking fund obligation on such mandatory sinking fund redemption date, and any excess of such amount shall be credited on future redemption obligations, and the principal amount of Term Bonds to be redeemed by operation of the mandatory sinking fund requirement shall be accordingly reduced; provided, however, the Trustee, the Registrar or the Paying Agent shall only credit such Term Bonds to the extent received on or before forty-five (45) days preceding the applicable mandatory sinking fund redemption date stated above.

Redemption Dates and Prices. The Series 2007A Bonds are callable for redemption prior to maturity (aherein referred to as “Extraordinary Optional Redemption”) The Issuer shall have pursuant to this Section 5.1 in the rightevent of damage to or destruction of the Facilities or any part thereof or condemnation or sale consummated under threat of condemnation of the Facilities or any part thereof, at its optionif the Net Proceeds of insurance, to redeemcondemnation or sale received in connection therewith exceed $5,000,000, according but only to the procedure hereinafter provided, extent of funds provided for in Section 4.7 of the Loan Agreement; and pursuant to the Loan Agreement the Borrower elects to have all or a portion of such Net Proceeds applied to the prepayment of the Series 20 2007A Bonds. If so called for redemption, Series 2007A Bonds maturing on or after , 20 shall be subject to redemption by the Issuer at the direction of the Borrower, in whole or in partpart at any time, and if in part by maturities designated by the Borrower (less than all of a single maturity to be selected by lot in such manner as may be determined by the Bond Trustee) at the principal amount thereof plus accrued and unpaid interest thereon to the redemption date and without premium from the Net Proceeds from such insurance, or condemnation award or such sale, but not in excess of the amount of such Net Proceeds applied to such purpose. Outstanding Series 2007A Bonds are also subject to redemption prior to maturity (herein referred to as “Optional Redemption”) on or after January 1, 2015 at the option of the Issuer upon direction of the Borrower out of amounts prepaid under the Loan Agreement and deposited in the Redemption Fund, in whole or in part at any order of maturity or time, and if in part by maturities selected designated by the Issuer Borrower (and if less than all of a single maturity is being redeemed, by lot within any maturity, on any date not earlier than , 20 a maturity or in such manner as may be reasonably determined by the Bond Trustee), at face valuea redemption price of 100% (expressed as percentages of the principal amount of the Series 2007A Bonds to be redeemed), plus interest accrued interest, if any, thereon to the date fixed of redemption. January 1, 2015 through December 31, 2015 106 % January 1, 2016 through December 31, 2016 104 January 1, 2017 and thereafter 102 No Extraordinary Redemption or Optional Redemption of less than all of the Series 2007A Bonds Outstanding at the time of such redemption shall be made pursuant to the foregoing provisions of this Section 5.1 unless the aggregate principal amount of Series 2007A Bonds to be redeemed is equal to or greater than $100,000. Series 2007A Bonds may be called for Extraordinary Redemption or Optional Redemption by the Bond Trustee pursuant to this Section 5.1 upon receipt by the Bond Trustee at least 60 days prior to the redemption date of a Written Request of the Borrower requesting such redemption. Such Written Request shall specify the principal amount of the Series 2007A Bonds to be called for redemption, the redemption date, the applicable redemption price or prices, the provision or provisions above specified pursuant to which such Series 2007A Bonds are to be called for redemption and without premium (b) The if the Series 20 2007A Bonds are to be redeemed in part, the maturities of such Series 2007A Bonds, and the amounts within each such maturity to be redeemed. If for any reason the Bond Trustee has not received a Written Request as to the maturities of the Series 2007A Bonds or the amounts within any maturity to be redeemed, it shall apply the funds available for redemption to redeem the Series 2007A Bonds in inverse order of maturity. Following the occurrence of the Determination of Taxability, the Series 2007A Bonds are subject to extraordinary mandatory redemption, in whole ,as soon as practicable but in any event no later than ninety (90) days after the occurrence of a Determination of Taxability. The Series 2007A Bonds are subject to mandatory redemption prior as prepayment upon a Determination of Taxability from a prepayment by the Company of all Loan Payments. The redemption price of the Series 2007A Bonds upon a Determination of Taxability will be equal to maturityone hundred eight percent (108%) of the principal amount of the Bonds to be redeemed and prepaid plus interest accrued, without premiumif any, to the mandatory redemption date following the Determination of Taxability. In addition, upon occurrence of a Determination of Taxability, the interest rate on the Bonds shall be adjusted as of the Date of Taxability to the Taxable Rate. The Taxable Rate is equal to a fluctuating interest rate adjusted on the first day of each calendar quarter to a rate equal to the sum of the London Interbank Offered Rates (LIBOR) with a term of three months plus 350 basis points. The Bonds are subject to mandatory redemption in part by lot (or such other random means selected by the Bond Trustee) at a redemption price equal to the principal amount thereof, together with accrued interest to the date of redemption, from proceeds of condemnation in certain circumstances as described in Section 6.9 the Series 2007A Bonds available therefore after the Completion Date. In addition to Extraordinary Optional Redemption, Optional Redemption, mandatory redemption upon Determination of Taxability and 6.10 hereof. (c) From moneys held in the Bond Fundmandatory redemption upon completion, the Series 20 2007A Bonds maturing on , 20 , are subject to mandatory sinking fund redemption prior pursuant to maturity on and in the dates shown belowmanner specified in Section 5.2 (herein referred to as “Mandatory Sinking Fund Redemption”). In lieu of redeeming Series 2007A Bonds pursuant to this Section 5.1 or Section 5.2, plus accrued interest the Bond Trustee may, at the Written Request of the Borrower, use such funds otherwise available hereunder for redemption of Series 2007A Bonds to purchase for cancellation Series 2007A Bonds in the open market at a price not exceeding the redemption price then applicable hereunder. It is understood that in the case of any such redemption or purchase and without premium: * Final Maturity The Trustee cancellation of Series 2007A Bonds, the Issuer shall receive credit against its required Bond Sinking Fund deposits with respect to the Series 2007A Bonds of such maturity, which in the case of Series 2007A Bonds subject to Mandatory Sinking Fund Redemption shall be applied to the mandatory sinking fund requirement for any Term Bondsdeposits with respect to Mandatory Sinking Fund Redemption which the Borrower elects or, and corresponding mandatory sinking fund redemption obligationif no election is made, in the inverse order determined by the Issuer, thereof. The portion of any such Term Series 2007A Bonds which have previously been redeemed (otherwise than as a result of a previous mandatory sinking fund redemption requirement) or delivered denomination of more than $5,000 to the Trustee, the Registrar or the Paying Agent for cancellation or purchased for cancellation by the Trustee and not theretofore applied as a credit against any redemption obligation. Each Term Bond so delivered or canceled be redeemed shall be credited by the Trustee at 100% of the principal amount thereof against the mandatory sinking fund obligation on such mandatory sinking fund redemption date, and any excess of such amount shall be credited on future redemption obligations, and in the principal amount of Term $5,000 or a multiple thereof, and in selecting portions of such Series 2007A Bonds to be redeemed by operation of the mandatory sinking fund requirement shall be accordingly reduced; provided, howeverfor redemption, the Trustee, Bond Trustee shall treat each such Series 2007A Bond as representing that number of Series 2007A Bonds of $5,000 denominations which is obtained by dividing the Registrar or the Paying Agent shall only credit principal amount of such Term Bonds to the extent received on or before forty-five (45) days preceding the applicable mandatory sinking fund redemption date stated aboveSeries 2007A Bond by $5,000.

Redemption Dates and Prices. (a) [The Issuer shall have the right, at its option, to redeem, according to the procedure hereinafter provided, the Series 20 Bonds maturing on or after 1, 20 , in whole or in part, in any order of maturity or maturities selected by the Issuer and by lot within any maturity, on any date not earlier than January 1, 20 2029, at face value, plus interest accrued to the date fixed for redemption and without premium.] (b) The Series 20 Bonds are subject to extraordinary redemption prior to maturity, without premium, from proceeds of condemnation in certain circumstances as described in Section 6.9 6.10 and 6.10 6.11 hereof. (c) [From moneys held in the Bond Fund, the Series 20 Bonds maturing on 1, 20 , are subject to mandatory sinking fund redemption prior to maturity on the dates shown below, plus accrued interest and without premium: * Final Maturity So long as the Series Bonds are held by the Bond Purchaser, the Series 20 Bonds do not need to be presented for payment upon mandatory sinking fund redemption. The Trustee shall credit against the mandatory sinking fund requirement for any Term Bonds, and corresponding mandatory sinking fund redemption obligation, in the order determined by the Issuer, any such Term Bonds which have previously been redeemed (otherwise than as a result of a previous mandatory sinking fund redemption requirement) or delivered to the Trustee, the Registrar or the Paying Agent for cancellation or purchased for cancellation by the Trustee and not theretofore applied as a credit against any redemption obligation. Each Term Bond so delivered or canceled shall be credited by the Trustee at 100% of the principal amount thereof against the mandatory sinking fund obligation on such mandatory sinking fund redemption date, and any excess of such amount shall be credited on future redemption obligations, and the principal amount of Term Bonds to be redeemed by operation of the mandatory sinking fund requirement shall be accordingly reduced; provided, however, the Trustee, the Registrar or the Paying Agent shall only credit such Term Bonds to the extent received on or before forty-five (45) days preceding the applicable mandatory sinking fund redemption date stated above.]