Redemption or Defeasance of Bonds Sample Clauses

Redemption or Defeasance of Bonds. Use its best efforts to cause the Trustee, upon redemption or defeasance of all of the Bonds pursuant to the Indenture, to surrender the Letter of Credit to the Issuing Bank for cancellation.
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Redemption or Defeasance of Bonds. Use its best efforts to cause the applicable Bond L/C to be surrendered for cancellation to the Issuing Lender upon redemption or defeasance of all of the applicable Bonds for which such Bond L/C was issued.
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Redemption or Defeasance of Bonds. The Company shall have and is hereby granted the option to cause all or a portion of the Bonds to be redeemed or defeased at the times, at the prices and in the manner permitted by the Indenture. The Issuer and the Trustee, at the request of the Company, shall forthwith take all steps (other than the payment of the money required for such redemption or defeasance) necessary under the applicable redemption or defeasance provisions of the Indenture to effect redemption or defeasance of all or part of the Outstanding Bonds, as may be specified by the Company, on the date established for such redemption or defeasance. In the event that the Company exercises its option to cause all or a portion of the Bonds to be optionally redeemed or defeased pursuant to this Section and Section 3.02 of the Indenture, the Company shall transmit written notice of optional redemption or defeasance to the Issuer and the Trustee at least 60 days prior to the date fixed for redemption or defeasance. The Company shall, not later than one Business Day prior to the date fixed for redemption or defeasance, deposit moneys in an amount which will be sufficient to pay principal, premium, if any, and interest accrued and, in the case of defeasance, to accrue, on the Bonds to be redeemed or defeased on the redemption date. In the event that the Company exercises its option to cause all of the Bonds to be optionally redeemed or defeased pursuant to this Section and Section 3.02 or Article VII of the Indenture and has paid all amounts required to be paid hereunder and under the Indenture, the Company may continue to occupy the Project without any additional Rent payments, as a tenant until the earlier to occur of (i) the end of the Lease Term, or (ii) the occurrence of a Default hereunder and during such period shall not be obligated to pay any amounts pursuant to Section 6.1(a) hereof. Upon the occurrence of (i) above, the Company shall have the right to exercise the options set forth in Section 5.3 hereof. Upon the occurrence of (ii) above, the Company shall immediately vacate the Project, deliver the Project to the Issuer free and clear of any lien or claims and have no further rights or interest in the Project. In addition, the Issuer, at the expense of the Company, shall execute, acknowledge and deliver such mortgages, indentures, agreements and other documents and instruments as the Company shall reasonably request in order to enable the Company to refinance the Project, provided such ...
Sample 1
Redemption or Defeasance of Bonds. The Applicant shall use commercially reasonable efforts to cause the Trustee, upon redemption or defeasance of all of the Bonds pursuant to the Indenture or other event that causes the Termination Date under the Letter of Credit, to surrender the Letter of Credit to the Issuing Bank for cancellation.
Sample 1

Related to Redemption or Defeasance of Bonds

  • Option to Effect Legal Defeasance or Covenant Defeasance; Defeasance The Issuer may, at its option and at any time, elect to have either Section 8.2 or 8.3 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article VIII.

  • Legal Defeasance of Securities of any Series Unless this Section 8.03 is otherwise specified, pursuant to Section 2.02(s), to be inapplicable to Securities of any Series, the Company shall be deemed to have paid and discharged the entire indebtedness on all the outstanding Securities of any Series on the 91st day after the date of the deposit referred to in subparagraph (d) hereof, and the provisions of this Indenture, as it relates to such outstanding Securities of such Series, shall no longer be in effect (and the Trustee, at the expense of the Company, shall, at Company Request, execute such instruments reasonably requested by the Company acknowledging the same), except as to:

  • Satisfaction, Discharge and Defeasance of the Notes (a) Upon satisfaction of the conditions set forth in Section 4.2(b) below, the Issuer shall be deemed to have paid and discharged the entire indebtedness on all the Notes Outstanding, and the provisions of this Indenture, as it relates to such Notes, shall no longer be in effect (and the Indenture Trustee, at the expense of the Issuer, shall execute proper instruments acknowledging the same), except as to:

  • Issuer’s Option to Effect Defeasance or Covenant Defeasance The Issuer may, at its option and at any time prior to the Stated Maturity of the Notes, by a resolution of its Board of Directors, elect to have either Section 8.02 or Section 8.03 be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article Eight.

  • Option to Effect Legal Defeasance or Covenant Defeasance The Company may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officers’ Certificate, elect to have either Section 8.02 or 8.03 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 8.

  • Company’s Option to Effect Defeasance or Covenant Defeasance The Company may elect, at its option at any time, to have Section 1302 or Section 1303 applied to any Securities or any series of Securities, as the case may be, designated pursuant to Section 301 as being defeasible pursuant to such Section 1302 or 1303, in accordance with any applicable requirements provided pursuant to Section 301 and upon compliance with the conditions set forth below in this Article. Any such election shall be evidenced by a Board Resolution or in another manner specified as contemplated by Section 301 for such Securities.

  • Option to Effect Defeasance or Covenant Defeasance The Issuer may, at the option of its Board of Directors evidenced by a Board Resolution set forth in an Officer’s Certificate, at any time, elect to have either SECTION 8.2 or 8.3 hereof applied to all outstanding Notes upon compliance with the conditions set forth below in this Article VIII.

  • DEFEASANCE AND COVENANT DEFEASANCE SECTION 1301.

  • Conditions to Defeasance or Covenant Defeasance The following shall be the conditions to the application of Section 1302 or Section 1303 to any Securities or any series of Securities, as the case may be:

  • Conditions to Legal Defeasance or Covenant Defeasance The following shall be the conditions to the application of either Section 8.02(b) or 8.02(c) hereof to the outstanding Notes:

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