Mandatory Sinking Fund Installments definition

Mandatory Sinking Fund Installments means the amounts required in or pursuant to this Ordinance to be deposited in the Bond Retirement Fund for purposes of retiring, on a Mandatory Redemption Date, principal of Term Bonds which, according to their stated maturities, are due and payable if not called for prior redemption on a subsequent date.
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Mandatory Sinking Fund Installments means the amounts required in or pursuant to this Ordinance to be deposited in the Bond Retirement Fund for purposes of retiring, on a Mandatory Redemption Date, principal of the Bonds which, according to their stated maturities, are due and payable.
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Examples of Mandatory Sinking Fund Installments in a sentence

  • Upon any redemption or purchase of Bonds of any Series and maturity for which Mandatory Sinking Fund Installments have been established, there shall be credited toward each such Mandatory Sinking Fund Installment thereafter to become due an amount bearing the same ratio to such Mandatory Sinking Fund Installment as the total principal amount of such Bonds so purchased or redeemed bears to the total amount of all such Mandatory Sinking Fund Installments to be credited.

  • If, however, there shall be filed with the Trustee by an Authorized Officer written instructions specifying a different method for crediting Mandatory Sinking Fund Installments upon any such purchase or redemption of Bonds, then such Mandatory Sinking Fund Installments shall be so credited as shall be provided in such instructions.

  • The portion of any such Mandatory Sinking Fund Installment remaining after the deduction of any such amounts credited towards the same (or the original amount of any such Mandatory Sinking Fund Installment if no such amounts shall have been credited toward the same) shall constitute the unsatisfied balance of such Mandatory Sinking Fund Installment for the purpose of calculation of Mandatory Sinking Fund Installments due on a future date.

Related to Mandatory Sinking Fund Installments

  • mandatory sinking fund payment has the meaning specified in Section 12.1.

  • Interest and Sinking Fund means the interest and sinking fund established by Section 8.01(a).

  • Sinking Fund Installment means, as of any particular date of calculation, the amount required, as of such date of calculation, to be paid by the Authority on a future date for the retirement of Outstanding Bonds which are stated to mature subsequent to such future date, but does not include any amount payable by the Authority by reason only of the maturity of a Bond.

  • optional sinking fund payment has the meaning specified in Section 12.1.

  • Sinking Fund Account means the sinking fund account established and held by the Treasurer of Charleston County designed to provide for the payment of the principal of, premium, if any, and interest on the Bonds, as the same respectively fall due.