Prepayment or Redemption Sample Clauses
Prepayment or Redemption. The local school bond will be subject to redemption at the option of your governing body, subject to the consent of VPSA or other registered owner. Your local resolution shall provide for prepayment or redemption as follows: 1 See the Endnotes on page A-4.
Prepayment or Redemption. The New Notes shall not be prepayable at any time or redeemable prior to maturity without the holders’ consent.
Prepayment or Redemption. Unless otherwise directed by VPSA, the Principal Installments of the Local School Bond held by VPSA coming due on or before July 15, 2030, and the definitive bond for which the Local School Bond held by VPSA may be exchanged that mature on or before July 15, 2030, are not subject to prepayment or redemption prior to their stated maturities. The Principal Installments of the Local School Bond held by VPSA coming due on or after July 15, 2031, and the definitive bond(s) for which the Local School Bond held by VPSA may be exchanged that mature on or after July 15, 2031, are subject to prepayment or redemption at the option of the County prior to their stated maturities in whole or in part, on any date on or after July 15, 2030, upon payment of the prepayment or redemption prices (expressed as percentages of Principal Installments to be prepaid or the principal amount of the Local School Bond to be redeemed) set forth below plus accrued interest to the date set for prepayment or redemption: July 15, 2030 through July 14, 2031 101% July 15, 2031 through July 14, 2032 100½ July 15, 2032 and thereafter 100 Provided, however, that the Principal Installments of the Local School Bond shall not be subject to prepayment or redemption prior to their stated maturities as described above without first obtaining the written consent of VPSA or other registered owner of the Local School Bond. Notice of any such prepayment or redemption shall be given by the Bond Registrar to VPSA or other registered owner by registered mail not more than ninety (90) and not less than sixty (60) days before the date fixed for prepayment or redemption. If VPSA refunds the VPSA Bonds in the future and such refunding causes the Local School Bond to be deemed refunded, the prepayment or redemption of the Local School Bond will be subject to VPSA approval and subject to similar prepayment or redemption provisions as set forth above that correspond to the call period of the VPSA Bonds issued in part to refund the Local School Bond.