Scheduled Mandatory Redemption Sample Clauses
Scheduled Mandatory Redemption. The Obligations are subject to redemption at a Redemption Price equal to 100% of the principal amount thereof, together with interest accrued thereon to the applicable Redemption Date, through the operation of scheduled repayment providing for the semi-annual redemption on January 1 and July 1 of each year, commencing January 1, 1999, of $6,380,000 principal amount of Obligations (or such lesser principal amount of Obligations as shall then be outstanding), which amount represents approximately one twenty-fourth (1/24) of the Original Principal Amount of Obligations, plus interest accrued thereon to the Redemption Date. There shall be a final redemption of the remaining outstanding principal of the Floating Rate Note on the earlier of (i) July 1, 2000, or (ii) two (2) years after the Delivery Date, and a final redemption of the remaining outstanding principal of the Fixed Rate Notes on July 1, 2010. Notwithstanding the foregoing provisions of this subsection (a), if the principal amount of Outstanding Obligations shall be reduced by reason of any redemption pursuant to Section 3.04 of Exhibit 1 to this Indenture, the principal amount of Obligations to be redeemed pursuant to this subsection (a) on each subsequent Redemption Date for such Obligations shall be reduced by an amount equal to the principal amount of such Obligations retired by reason of such redemption pursuant to Section 3.04 of Exhibit 1 hereto divided by the number of Redemption Dates (including the Stated Maturity of such Obligations) scheduled thereafter to July 1, 2000 in the case of the Floating Rate Note and July 1, 2010 in the case of Fixed Rate Note(s) (subject to such increase as shall be necessary so that the total principal amount of Obligations to be redeemed on any such Redemption
Scheduled Mandatory Redemption. The Issuer is not required to make any regularly-scheduled mandatory redemption or sinking fund payments with respect to the Notes. However, under certain circumstances, the Issuer may be required to make a Mandatory Redemption or Change of Control Offer, as applicable. The Issuer and its Affiliates may acquire Notes at any time and from time to time by means other than a redemption, whether by tender offer, open market purchases, negotiated transactions or otherwise, in accordance with Applicable Securities Laws.
Scheduled Mandatory Redemption. On the 15th day of each January, April, July and October, commencing July 15, 2002, the Company will redeem $2.0 million of the stated principal amount of the Securities (expressed as an integral multiple of $1,000) at a redemption price equal to 103% of the stated principal amount thereof plus accrued and unpaid interest thereon to such date.
Scheduled Mandatory Redemption. (a) The Bonds shall be subject to scheduled mandatory redemption prior to Stated Maturity, at a redemption price equal to the principal amount thereof plus interest accrued thereon to the redemption date, on October 1 of each year and in the principal amounts set forth below. Redemption Date Principal Amount Redemption Date Principal Amount 10/1/2020 6,005,000 10/1/2035 9,587,000 10/1/2021 1,973,000 10/1/2036 10,359,000 10/1/2022 2,354,000 10/1/2037 11,173,000 10/1/2023 2,755,000 10/1/2038 12,025,000 10/1/2024 3,178,000 10/1/2039 12,918,000 10/1/2025 3,624,000 10/1/2040 13,855,000 10/1/2026 4,094,000 10/1/2041 14,836,000 10/1/2027 4,589,000 10/1/2042 15,865,000 10/1/2028 5,109,000 10/1/2043 16,942,000 10/1/2029 5,657,000 10/1/2044 18,070,000 10/1/2030 6,234,000 10/1/2045 19,251,000 10/1/2031 6,840,000 10/1/2046 20,487,000 10/1/2032 7,476,000 10/1/2047 21,781,000 10/1/2033 8,145,000 10/1/2048 23,135,000 10/1/2034 8,849,000 10/1/2049 24,551,000
(b) At the request of the Tenant, the City may reduce the principal amount of Bonds to be redeemed pursuant to a mandatory sinking fund redemption by the amount of such Bonds previously redeemed pursuant to an optional redemption or purchased pursuant to subsection (c) below.
(c) If less than all of the Bonds described are required to be redeemed, at the request of the Tenant, the City shall direct the Trustee to accept tenders of Bonds and to purchase Bonds in the open market at any price that is equal to or less than the applicable Redemption Price for the Bonds required to be redeemed, and such tendered Bonds shall be canceled.
(d) Selection of Bonds to be redeemed pursuant to a mandatory sinking fund redemption shall be made Pro Rata.
Scheduled Mandatory Redemption. The Obligations are subject to redemption at a Redemption Price equal to 100% of the principal amount thereof, together with interest accrued thereon to the applicable Redemption Date, through the operation of scheduled repayment providing for the semiannual redemption on August 1 and February 1 of each year, commencing on August 1, 2002, of the principal amount of Obligations as specified in the Obligations, plus interest accrued thereon to the Redemption Date so that the semiannual mandatory redemption of the aggregate principal amount of the Obligations Outstanding shall be in the principal amount set forth in the second revised amortization schedule (the “Second Revised Amortization Schedule”) which is Exhibit B to Supplement No. 2 to Trust Indenture, as the same may be revised as provided in the Indenture. There shall be a final redemption of the remaining outstanding principal of the Floating Rate Note no later than the earlier of (i) February 1, 2012, or (ii) the date upon which the Trigger Event (as hereinafter defined) shall occur, and a final redemption of the remaining outstanding principal of the Fixed Rate Bonds on February 1, 2027. The Stated Maturities of the Serial Bonds shall be earlier than the Stated Maturities of the Sinking Fund Bonds.”