Common use of Redemption Payments Clause in Contracts

Redemption Payments. Prior to the date fixed for redemption in whole, funds shall be deposited with Trustee to pay, and Trustee is hereby authorized and directed to apply such funds to the payment of the Expenditure Agreement or portions thereof called, together with accrued interest thereon to the redemption date. Upon the giving of notice and the deposit of funds for redemption, interest on the Expenditure Agreement thus called shall no longer accrue after the date fixed for redemption. No payment shall be made by the Trustee upon any Expenditure Agreement until such Expenditure Agreement shall have been delivered for payment or cancellation or the Trustee shall have received the items required by Section 2.8 hereof with respect to any mutilated, lost, stolen or destroyed Expenditure Agreement.

Redemption Payments. Prior to the date fixed for redemption in whole, funds shall be deposited with Trustee to pay, and Trustee is hereby authorized and directed to apply such funds to the payment of the Expenditure Agreement Bonds or portions thereof called, together with accrued interest thereon to the redemption date. Upon the giving of notice and the deposit of funds for redemption, interest on the Expenditure Agreement Bonds thus called shall no longer accrue after the date fixed for redemption. No payment shall be made by the Trustee upon any Expenditure Agreement Bond until such Expenditure Agreement Bond shall have been delivered for payment or cancellation or the Trustee shall have received the items required by Section 2.8 hereof with respect to any mutilated, lost, stolen or destroyed Expenditure AgreementBond.

Redemption Payments. Prior to the date fixed for redemption in whole, funds shall be deposited with the Trustee to pay, and the Trustee is hereby authorized and directed to apply such funds to the payment of the Expenditure Agreement Bonds or portions thereof called, together with accrued interest thereon to the redemption date. Upon the giving of notice and the deposit of funds for redemption, interest on the Expenditure Agreement Bonds thus called shall no longer accrue after the date fixed for redemption. No payment shall be made by the Trustee upon any Expenditure Agreement Bond being optionally redeemed in full until such Expenditure Agreement Bond shall have been delivered for payment or cancellation or the Trustee shall have received the items required by Section 2.8 2.7 hereof with respect to any mutilated, lost, stolen or destroyed Expenditure AgreementBond.