Right to Purchase Bonds in Lieu of Redemption. (a) If the Bonds are called for optional redemption in whole pursuant to Section 4.02 of the Indenture or mandatory redemption in whole pursuant to Section 4.04(a) of the Indenture (other than redemptions pursuant to Section 4.04(a)(iv)), or mandatory redemption in whole pursuant to Section 4.05 of the Indenture, the Borrower may elect in writing to cause the purchase of Bonds in lieu of redemption, pursuant to Section 4.09 of the Indenture. If the Borrower so elects, the Borrower shall send a notice of such election to purchase in lieu of redemption of the Bonds to the Trustee no later than 10 days prior to the date scheduled for redemption accompanied by a Favorable Opinion of Bond Counsel addressed to the Issuer and the Trustee. Upon the exercise by the Borrower to purchase the Bonds so called for redemption (the “Borrower’s Purchase Option”) such Bonds shall be purchased in lieu of redemption as provided in Section 4.09 of the Indenture from moneys to be made available by the Borrower and accompanied by written instructions from the Borrower as to the source and application of such moneys. The Borrower’s Purchase Option shall be exercised by:
Appears in 9 contracts
Samples: Loan Agreement, Loan Agreement, Loan Agreement
