Redemption Fund. (a) A Redemption Fund is hereby established and maintained by the Trustee if the Trustee also serves as the Paying Agent, and otherwise the Redemption Fund shall be established and maintained by the Paying Agent, and moneys shall be deposited therein as provided in this Agreement. The moneys in the Redemption Fund and any investments held as a part of such Fund shall be held in trust and, except as otherwise provided, shall be applied by the Trustee or the Paying Agent, as appropriate, on behalf of the Authority solely to the redemption of Bonds. The Trustee or the Paying Agent, as appropriate, may, and upon written direction of the Company for specific purchases shall, apply moneys in the Redemption Fund to the purchase of Bonds for cancellation at prices not exceeding the price at which they are then redeemable (or next redeemable if they are not then redeemable), but not within the forty-five (45) days preceding a redemption date. Accrued interest on the purchase of Bonds shall be paid by the Company. (b) If on any date the amount in the Debt Service Fund is less than the amount then required to pay the principal of, premium, if any, and interest then due on the Bonds, the Trustee or the Paying Agent, as appropriate, shall transfer the amount in the Redemption Fund (other than any sum irrevocably set aside for the redemption of particular Bonds or required to purchase Bonds under outstanding purchase contracts) to the Debt Service Fund to the extent necessary to meet the deficiency. The Company shall remain liable for any sums that it has not paid into the Debt Service Fund and any subsequent payment thereof shall be used to restore the funds transferred from the Redemption Fund to satisfy such deficiency. (c) If any moneys in the Redemption Fund are invested in accordance with this Agreement and a loss results therefrom so that there are insufficient funds to pay the redemption price of Bonds called for redemption in accordance with this Agreement, then the Company shall immediately supply the deficiency.
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Redemption Fund. (a) A The Trustee, on the redemption date specified in the Written Request of the City filed with the Trustee at the time that any prepaid Base Rental Payment is paid to the Trustee pursuant to the Lease Agreement, shall deposit in the Redemption Fund is hereby established and maintained by that amount of moneys representing the portion of the Base Rental Payments designated as prepaid Base Rental Payments. Additionally, the Trustee if shall deposit in the Trustee also serves as the Paying Agent, and otherwise Redemption Fund any amounts required to be deposited therein pursuant to Sections 5.03 or 5.04 hereof. Moneys in the Redemption Fund shall be established and maintained by the Paying Agent, and moneys shall be deposited therein as provided in this Agreement. The moneys in the Redemption Fund and any investments held as a part of such Fund shall be held in trust and, except as otherwise provided, shall be applied used by the Trustee or for the Paying Agent, as appropriate, on behalf purpose of the Authority solely to the redemption of Bonds. The Trustee or the Paying Agent, as appropriate, may, and upon written direction of the Company for specific purchases shall, apply moneys in the Redemption Fund to the purchase of Bonds for cancellation at prices not exceeding the price at which they are then redeemable (or next redeemable if they are not then redeemable), but not within the forty-five (45) days preceding a redemption date. Accrued interest on the purchase of Bonds shall be paid by the Company.
(b) If on any date the amount in the Debt Service Fund is less than the amount then required to pay paying the principal of, of and interest and premium, if any, on Series 2017 Bonds redeemed pursuant to the provisions of subsections (a) and interest then due on (b) of Section 4.01 hereof and Additional Bonds redeemed pursuant to the Bondscorresponding provisions of the Supplemental Indenture pursuant to which such Additional Bonds are issued; provided, the Trustee or the Paying Agenthowever, as appropriate, shall transfer the amount that moneys deposited in the Redemption Fund may also be used to purchase Outstanding Series 2017 Bonds or Additional Bonds in the manner hereinafter provided. Purchases of Outstanding Series 2017 Bonds or Additional Bonds may be made by the Authority at public or private sale as and when and at such prices as the Authority may in its discretion determine, but only at prices (including brokerage or other expenses) not more than any sum irrevocably par plus accrued interest, plus, in the case of moneys set aside for an optional redemption or an extraordinary redemption, the redemption premium applicable at the next following call date according to the premium schedule established pursuant to Sections 4.01(a) or (b), as applicable, or in the case of particular Additional Bonds the premium established in any Supplemental Indenture. Any accrued interest payable upon the purchase of Series 2017 Bonds or required to purchase Additional Bonds under outstanding purchase contracts) to the Debt Service Fund to the extent necessary to meet the deficiency. The Company shall remain liable for any sums that it has not may be paid into the Debt Service Fund and any subsequent payment thereof shall be used to restore the funds transferred from the Redemption Fund to satisfy such deficiency.
(c) If any moneys amount reserved in the Redemption Fund are invested in accordance with this Agreement and a loss results therefrom so that there are insufficient funds to pay the redemption price of Bonds called for redemption in accordance with this Agreement, then the Company shall immediately supply the deficiencyInterest Fund.
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Sources: Indenture
Redemption Fund. (a) A Redemption Fund is hereby established and maintained by with the Trustee if the Trustee also serves as the Paying Agent, and otherwise the Redemption Fund shall be established and maintained by the Paying Agent, and moneys shall be deposited therein as provided in this Agreement. The moneys in the Redemption Fund and any investments held as a part of such Fund shall be held in trust and, except as otherwise provided, shall be applied by the Trustee or the Paying Agent, as appropriate, on behalf of the Authority Issuer solely to the redemption of Bonds. The Trustee or the Paying Agent, as appropriate, may, and upon written direction of the Company Borrower for specific purchases shall, apply moneys in the Redemption Fund to the purchase of Bonds for cancellation at prices not exceeding the price at which they are then redeemable (or next redeemable if they are not then redeemable), but not within the forty-five (45) days preceding a redemption date. Accrued interest on the purchase of Bonds shall be paid by from the Company.
Debt Service Fund. When moneys in the Redemption Fund are to be applied to the redemption of Bonds, the Trustee shall transfer such moneys to the Paying Agent on or before the redemption date, provided that moneys set aside for the redemption of particular Bonds pursuant to clause (biv) of the definition of "Outstanding" or Section 204 may be transferred in immediately available funds at the opening of business on the redemption date. If on any date the amount in the Debt Service Fund is less than the amount then required to be transferred to the Paying Agent to pay the principal of, premium(including sinking fund installments, if any, ) and interest then due on the BondsBonds or if on any date an amount is then required to be paid to the United States as provided in Section 317(a), the Trustee or the Paying Agent, as appropriate, shall transfer apply the amount in the Redemption Fund (other than any sum irrevocably set aside for the redemption of particular Bonds or required to purchase Bonds under outstanding purchase contracts) first, to the satisfaction of such rebate payment and second, to the Debt Service Fund to the extent necessary to meet the deficiency. The Company Borrower shall remain liable for any sums that which it has not paid into the Debt Service Fund and any subsequent payment thereof shall be used to restore the funds transferred from the Redemption Fund to satisfy such deficiency.
(c) so applied. If any moneys in the Redemption Fund are invested in accordance with this Agreement and a loss results therefrom so that there are insufficient funds to pay the redemption price of Bonds called for redemption in accordance with this Agreement, then the Company Borrower shall immediately supply the deficiency. If moneys are transferred from the Project Fund pursuant to Section 501(c), such moneys (and earnings thereon) shall be used to redeem Outstanding Bonds in inverse order of maturity on a Business Day within ninety (90) days of such transfer as designated in writing by the Borrower to the Trustee at least forty-five (45) days before the redemption date. The Bonds are subject to redemption pursuant to this Section 310(e) at 100% of their principal amounts plus accrued interest to the redemption date. If the amount transferred to the Redemption Fund pursuant to Section 501(c) is less than $50,000, the Trustee, upon written direction of the Borrower, shall use such amount as a credit against deposits otherwise required to be made therein with respect to principal instead of calling Bonds for redemption.
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Redemption Fund. (a) A Redemption Fund is hereby established and maintained by with the Trustee if the Trustee also serves as the Paying Agent, and otherwise the Redemption Fund shall be established and maintained by the Paying Agent, and moneys shall be deposited therein as provided in this Agreement. The moneys in the Redemption Fund and any investments held as a part of such Fund shall be held in trust and, except as otherwise provided, shall be applied by the Trustee or the Paying Agent, as appropriate, on behalf of the Authority Issuer solely to the redemption of Bonds. The Trustee or the Paying Agent, as appropriate, may, and upon written direction of the Company Borrower for specific purchases shall, apply moneys in the Redemption Fund to the purchase of Bonds for cancellation at prices not exceeding the price at which they are then redeemable (or next redeemable if they are not then redeemable), but not within the forty-five (45) days preceding a redemption date. Accrued interest on the purchase of Bonds shall be paid by from the Company.
Debt Service Fund. When moneys in the Redemption Fund are to be applied to the redemption of Bonds, the Trustee shall transfer such moneys to the Paying Agent on or before the redemption date, provided that moneys set aside for the redemption of particular Bonds pursuant to clause (biv) of the definition of "Outstanding" or Section 204 may be transferred in immediately available funds at the opening of business on the redemption date. If on any date the amount in the Debt Service Fund is less than the amount then required to be transferred to the Paying Agent to pay the principal of, premium(including sinking fund installments, if any, ) and interest then due on the BondsBonds or if on any date an amount is then required to be paid to the United States as provided in Section 317(a), the Trustee or the Paying Agent, as appropriate, shall transfer apply the amount in the Redemption Fund (other than any sum irrevocably set aside for the redemption of particular Bonds or required to purchase Bonds under outstanding purchase contracts) first, to the satisfaction of such rebate payment and second, to the Debt Service Fund to the extent necessary to meet the deficiency. The Company Borrower shall remain liable for any sums that which it has not paid into the Debt Service Fund and any subsequent payment thereof shall be used to restore the funds transferred from the Redemption Fund to satisfy such deficiency.
(c) so applied. If any moneys in the Redemption Fund are invested in accordance with this Agreement and a loss results therefrom so that there are insufficient funds to pay the redemption price of Bonds called for redemption in accordance with this Agreement, then the Company Borrower shall immediately supply the deficiency.
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