Redemption or Purchase Account definition

Redemption or Purchase Account means an Account of the Bond Fund established pursuant to Section 5.4 hereof.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Examples of Redemption or Purchase Account in a sentence

• The Trustee shall deposit to the Redemption or Purchase Account any amounts of funds transferred or deposited to effect redemption (other than funds used for mandatory sinking fund redemption) or purchase of Bonds other than Subordinated Bonds pursuant to Article 3 hereof.

• Moneys on deposit in the Redemption or Purchase Account shall be used for redemption or purchase of Bonds other than Subordinated Bonds pursuant to the provisions of Article 3 hereof.

• Moneys on deposit in the Redemption or Purchase Account shall be used for redemption or purchase (other than funds used for mandatory sinking fund redemption pursuant to Section 3.1(3) hereof) of Bonds other than Subordinated Bonds pursuant to the provisions of Article 3 hereof.

• Any moneys on deposit in the Subordinated Bond Redemption or Purchase Account shall be used for redemption or purchase of Subordinated Bonds.

• The Trustee shall deposit to the Subordinated Bond Redemption or Purchase Account any amounts of funds transferred or deposited to effect redemption (other than funds used for the periodic payment of principal) or purchase of the Subordinated Bonds.