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

  • A credit against the then current Mandatory Sinking Fund Installment (and corresponding mandatory redemption obligation) also shall be received by the City for any Bonds which are Term Bonds, which prior thereto have been redeemed (other than through the operation of the Mandatory Sinking Fund Installments) or purchased for cancellation and cancelled by the Registrar, to the extent not applied theretofore as a credit against any mandatory redemption obligation.

  • The Bonds which are Term Bonds are subject to mandatory redemption, through the application of Mandatory Sinking Fund Installments, as set forth in the Certificate of Award, on each Mandatory Redemption Date at one hundred percent (100%) of the principal amount thereof plus accrued interest to such date, in the years and principal amounts set forth in the Principal Retirement Schedule.

  • If optional redemption at a price exceeding 100% of the principal amount to be redeemed is to take place as of any applicable Mandatory Redemption Date, the Bonds, or portions thereof, to be redeemed optionally shall be selected by lot prior to the selection by lot of the Bonds to be redeemed on the same date by application of the Mandatory Sinking Fund Installments of paragraph (a).

  • Any excess of that amount over the then current Mandatory Sinking Fund Installment shall be credited against subsequent Mandatory Sinking Fund Installments (and corresponding mandatory redemption obligations) in the order directed by the Treasurer.

  • Possibility of Mandatory Sinking Fund Installments Bidders may elect to structure the issue to include term bonds (the “Term Bond Option”), which term bonds, if selected by the Bidder, will be subject to mandatory redemption prior to maturity, in the years and amounts shown above as serial maturities, upon payment of one hundred percent (100%) of the principal amount of the Bonds to be redeemed, together with accrued interest to the date fixed for such mandatory redemption.

  • The 2009A Bonds maturing on February 1, 2030 with an interest rate of 6.00% are subject to redemption, in part, by lot, from Mandatory Sinking Fund Installments deposited in the Bond Fund on each February 1, from and after February 1, 2025 at the principal amount of the 2009A Bonds to beredeemed, without premium.

  • The portion of any such Mandatory Sinking Fund Installments remaining after the deduction of any such amounts credited toward 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 the calculation of Mandatory Sinking Fund Installments due on any future date.

  • 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.

  • 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.

Related to Mandatory Sinking Fund Installments

  • 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.

  • Sinking Fund means each Sinking Fund Subaccount under the Indenture. To the extent necessary for compliance with the Authority’s tax covenants and other provisions of the Indenture and the Act, the Authorized Officers of the Authority may subdivide each such subaccount in respect of separate categories or issues of Sinking Fund Bonds.

  • Redemption Price or Repurchase Price means the amount to be paid to the relevant Holder upon redemption of that Unit, such amount to be determined pursuant to this document.

  • Fund means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business.

  • Optional means a requirement not considered essential, but for which preference may be given.

  • Redemption Amount means, as appropriate, the Final Redemption Amount, the Early Redemption Amount (Tax), the Optional Redemption Amount (Call), the Optional Redemption Amount (Put), the Early Termination Amount or such other amount in the nature of a redemption amount as may be specified in, or determined in accordance with the provisions of, the relevant Final Terms;