Examples of Untendered Bonds in a sentence
The Trustee shall promptly give notice by registered or certified first class mail, postage prepaid or overnight delivery (or, when the Bonds are in a Book-Entry System, pursuant to the applicable procedures of the Depository), to each Holder of Untendered Bonds stating that interest on such Bonds ceased to accrue on the Mandatory Tender Date and that moneys representing the Purchase Price of such Bonds are available against delivery of such Bonds at the Designated Office of the Trustee.
In the event of a failure by an Owner of such Bonds to tender its Bonds on or prior to the Mandatory Purchase Date, said Owner shall not be entitled to any payment (including any interest to accrue subsequent to the Mandatory Purchase Date) other than the Purchase Price for such Untendered Bonds, and any Untendered Bonds shall no longer be entitled to the benefits of this Indenture, except for the purpose of payment of the Purchase Price therefor.
Except when the Bonds are held in the Book Entry System, the Issuer shall execute and the Trustee shall authenticate and deliver Replacement Bonds to replace Untendered Bonds.
The Trustee shall promptly give notice by registered or certified first class mail, postage prepaid or overnight delivery (or, when the Bonds are in Book-Entry Form, pursuant to the applicable procedures of the Depository), to each Holder of Untendered Bonds stating that interest on such Bonds ceased to accrue on the Mandatory Tender Date and that moneys representing the Purchase Price of such Bonds are available against delivery of such Bonds at the designated office of the Trustee.
The Tender Agent shall issue a new Bond or Bonds in the same aggregate principal amount for any Untendered Bonds which are not tendered for purchase on any Optional Tender Date and, upon receipt by the Tender Agent of any such Untendered Bonds from the Holders thereof, shall pay, or cause to be paid, the Purchase Price of such Untendered Bonds to the Holders thereof and cancel such Untendered Bonds.
Bond certificates will be issued in place of Untendered Bonds pursuant to the Indenture and, after the issuance of the replacement Bond certificates, such Untendered Bonds will be deemed purchased, canceled and no longer Outstanding under the Indenture.
If there remains any balance (other than moneys held by the Trustee for the purchase of Untendered Bonds) in either the Letter of Credit Account or the General Account of the Bond Purchase Fund, the Trustee shall, prior to the close of business on the Optional Tender Date or the Mandatory Tender Date, authorize the payment of such balance first to the Bank, but only to the extent of amounts due under the Reimbursement Agreement, and then to the College.
If there has been irrevocably deposited in the Bond Purchase Fund an amount sufficient to pay the Purchase Price of all Bonds tendered or deemed to be tendered for purchase on an Optional Tender Date, any Untendered Bonds shall be deemed to have been tendered for purchase and purchased from the Holder thereof on such Optional Tender Date and the Holder of any Untendered Bond shall not be entitled to receive interest on such Untendered Bond for any period on and after the Optional Tender Date.
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Such additional indebtedness shall be a senior claim to that of the Bonds upon all property and funds held or collected by the Trustee as such, except funds held with respect to Untendered Bonds and unredeemed Bonds for which notice of redemption has been given, and except for any arbitrage rebate fund or account established pursuant hereto or pursuant to any arbitrage regulatory agreement.