Mandatory Redemption Requirement definition

Mandatory Redemption Requirement means as to each Series of Bonds for any year, the principal amount of Bonds of such Series subject to mandatory sinking fund redemption in such year, as provided in the Series Ordinance or Sale Resolution for such Series of Bonds.

Mandatory Redemption Requirement means, for any Fiscal Year, the aggregate principal amount of Bonds subject to Mandatory Redemption on November 1 of such Fiscal Year and May 1 of the next Fiscal Year.

Mandatory Redemption Requirement means any provision that may be set forth in the Indenture or in a Supplemental Indenture for mandatory redemption of any Bonds at a redemption price equal to the principal amount thereof.

Examples of Mandatory Redemption Requirement in a sentence

• That option shall be exercised by the School District on or before the 45th day preceding any Mandatory Redemption Date with respect to which the School District wishes to obtain a credit, by furnishing the Bond Registrar a certificate, signed by the Treasurer, setting forth the extent of the credit to be applied with respect to the then current or any subsequent Mandatory Redemption Requirement for Term Bonds stated to mature on the same Principal Payment Date and bear interest at the same rate.

• If the certificate is not timely furnished to the Bond Registrar, the then current Mandatory Redemption Requirement shall not be reduced.

• The School District shall have the option to deliver to the Bond Registrar for cancellation Term Bonds in any aggregate principal amount and to receive a credit against the then current or any subsequent Mandatory Redemption Requirement of the School District, as specified by the Treasurer, for Term Bonds stated to mature on the same Principal Payment Date and bear interest at the same rate as the Term Bonds so delivered.

• If the certificate is not timely furnished to the Bond Registrar, the current Mandatory Redemption Requirement (and corresponding mandatory redemption obligation) shall not be reduced.

• That option shall be exercised by the School District on or before the 15th day preceding any Mandatory Redemption Date with respect to which the School District wishes to obtain a credit, by furnishing the Bond Registrar a certificate, signed by the Treasurer, setting forth the extent of the credit to be applied with respect to the then current or any subsequent Mandatory Redemption Requirement for Term Bonds stated to mature on the same Principal Payment Date and bear interest at the same rate.

• The School District shall have the option to deliver to the Bond Registrar for cancellation Term Bonds in any aggregate principal amount and to receive a credit against the then current or any subsequent Mandatory Redemption Requirement (and corresponding mandatory redemption obligation) of the School District, as specified by the Treasurer, for Term Bonds stated to mature on the same Principal Payment Date and bearing interest at the same rate and having the same Tax Status as the Term Bonds so delivered.

• Subject to the provisions of Section 3.06 relating to operation of the Principal Account, when Mandatory Redemption of Bonds is required and timely deposits have been made by the Commission pursuant to the Mandatory Redemption Requirement, the applicable Bond Registrar will proceed with such redemption without further action or direction from the Commission.

• The School District shall have the option to deliver to the Bond Registrar for cancel- lation Term Bonds in any aggregate principal amount and to receive a credit against the then current or any subsequent Mandatory Redemption Requirement of the School District, as specified by the Treasurer, for Term Bonds stated to mature on the same Principal Payment Date and bear interest at the same rate as the Term Bonds so delivered.

• Credits to the Principal Account shall be suspended when the amount credited equals the amount of the then current Principal Requirement and Mandatory Redemption Requirement but shall be resumed whenever the credits to the Principal Account are less than that amount until the credit balance has been restored to the required amounts.

More Definitions of Mandatory Redemption Requirement

Mandatory Redemption Requirement means, for any Fiscal Year, the aggregate principal amount of Bonds subject to Mandatory Redemption on April 1 of that Fiscal Year.