Sinking Fund Redemption. There shall be no Sinking Fund for the retirement of the Bonds of either series.
Sinking Fund Redemption. The Bonds maturing on September 1, 2005 and September 1, 2010, respectively, shall be subject to redemption commencing September 1, 2004 and September 1, 2006, respectively, and on each September 1 thereafter, at a Redemption Price equal to 100% of the principal amount thereof being redeemed plus accrued interest up to the redemption date. The Trustee shall cause to be redeemed such Bonds in the aggregate principal amounts of the following Sinking Fund Installments on September 1 of each of the following years: TERM BONDS DUE SEPTEMBER 1, 2005 Year Sinking Fund Installment ($) 2004 665,000 2005 735,000 TERM BONDS DUE SEPTEMBER 1, 2010 Year Sinking Fund Installment ($) 2006 810,000 2007 895,000 2008 990,000 2009 1,095,000 2010 1,210,000 Accrued interest on such Bonds so redeemed shall be paid from the Bond Fund, and all expenses in connection with such Redemption shall be paid by the Borrower. All Bonds redeemed under the Indenture shall be redeemed in the manner provided in the Indenture. The principal amount of Bonds to be redeemed in the years 2004 through 2010 shall be reduced by the amount of such Bonds that the Trustee has previously redeemed pursuant to Section 301(b) (special mandatory redemption) or 301(e) (optional redemption) of the Indenture.
Sinking Fund Redemption. The Bonds are also subject to redemption prior to their stated Maturity Date, in part, from Mandatory Sinking Account Payments deposited in the Principal Fund pursuant to Section 5.03 on November 1 of the years specified in (1) any Supplemental Bond Indenture approved by the Borrower in writing, in the aggregate principal amounts specified in such Supplemental Bond Indenture, or (2) any schedule delivered by the Borrower to the Trustee pursuant to Section 2.12B, in the aggregate principal amounts specified in such schedule (except on the Maturity Dates for serial Bonds established pursuant to Section 2.12B(6)), in either case at a Redemption Price equal to 100% of the principal amount thereof together with interest accrued thereon to the date fixed for redemption, without premium; provided, however, that, unless otherwise provided in such Supplemental Bond Indenture, the principal amount of Bonds of any subseries to be redeemed on any such date may be modified by Borrower Order given in connection with the creation of any new subseries or the merger of one or more subseries pursuant to Section 2.02E or any change in the Mode, Credit Facility or Liquidity Facility for the Bonds of such subseries, if the aggregate principal amount of Bonds of all subseries so to be redeemed on each such date remains the same; and provided further, however, that, unless otherwise provided in such Supplemental Bond Indenture, the principal amount of Bonds of any subseries so to be redeemed in any year shall be reduced upon Borrower Request by an amount equal to the principal amount of Bonds of such subseries (a) surrendered uncancelled and in transferable form by the Borrower to the Trustee not less than 45 days prior to such redemption date or (b) selected (not less than five days prior to the last day for mailing notice of such redemption date) for redemption in or prior to such year pursuant to any other Subsection of this Section, if in either case such Bonds shall not have previously served as the basis for any such reduction.
Sinking Fund Redemption. The Bonds are subject to mandatory redemption in part on each July 1 commencing July 1, 2003, from sinking fund payments made by the Borrower, at a redemption price equal to the principal amount of Bonds to be redeemed as set forth in the table below, without premium, plus accrued interest to the date of redemption:
Sinking Fund Redemption. The Bonds are also subject to redemption by the Issuer, pursuant to the terms of the mandatory sinking fund provided in SECTION 3.08 of this Indenture, on December 1, 1999, and on each December 1 thereafter to and including December 1, 2016 (the final amount to be paid rather than redeemed), in part, less than all of such Bonds to be selected by lot or in such other manner as the Trustee may determine (except as otherwise provided in SECTION 3.07 hereof), at a redemption price equal to the principal amount thereof plus accrued interest to the redemption date.
Sinking Fund Redemption. The Bonds are not subject to sinking fund redemption.
Sinking Fund Redemption. (a) The 2002 Series B Bonds are subject to redemption on December 1 on each year, commencing with the year 2005 and ending with the year 2027, through operation of the sinking fund for the the 2002 Series B Bonds, at a Redemption Price equal to 100% of the principal amount being redeemed, plus accrued interest through the Redemption Date (subject to the right of holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the Redemption Date). As a sinking fund for the 2002 Series B Bonds, the Company shall redeem on December 1 in each year beginning with the year 2005 and ending with the year 2027 the aggregate principal amount of the 2002 Series B Bonds specified in the following table: Year Aggregate Principal Amount of 2002 Series B Bonds December 1, 2005 $ 12,500,000 December 1, 2006 $ 12,500,000 December 1, 2007 $ 12,500,000 December 1, 2008 $ 12,500,000 December 1, 2009 $ 12,500,000 December 1, 2010 $ 12,500,000 December 1, 2011 $ 12,500,000 December 1, 2012 $ 12,500,000 December 1, 2013 $ 12,500,000 December 1, 2014 $ 12,500,000 December 1, 2015 $ 12,500,000 December 1, 2016 $ 12,500,000 December 1, 2017 $ 12,500,000 December 1, 2018 $ 12,500,000 December 1, 2019 $ 12,500,000 December 1, 2020 $ 12,500,000 December 1, 2021 $ 12,500,000 December 1, 2022 $ 12,500,000 December 1, 2023 $ 12,500,000 December 1, 2024 $ 12,500,000 December 1, 2025 $ 12,500,000 December 1, 2026 $ 12,500,000 December 1, 2027 $ 12,500,000 The principal amount of the 2002 Series B Bonds acquired and surrendered for cancellation or redeemed by the Company (otherwise than through operation of the sinking fund) shall be credited against sinking fund payments for the 2002 Series B Bonds (including, for purposes of this paragraph, as a sinking fund payment, $12,500,000 principal amount of 2002 Series B Bonds not to be redeemed through operation of the sinking fund but to be repaid at maturity on December 1, 2028) in proportion to the respective amounts of such required sinking fund payments.
Sinking Fund Redemption. The Bonds are also subject to mandatory sinking fund redemption in part by lot on August 1, 2015, and on each August 1 thereafter, to and including August 1, 2028, from Mandatory Sinking Account Payments made by the Successor Agency at a redemption price equal to the principal amount thereof, without premium, in the aggregate respective amounts and on the respective dates as set forth in the following table. Redemption Date (August 1) Principal Amount 2015 $280,000 2016 295,000 2017 150,000 2018 155,000 2019 165,000 2020 165,000 2021 180,000 2022 180,000 2023 190,000 2024 195,000 2025 200,000 2026 210,000 2027 220,000 2028 230,000 2029† 235,000 † Maturity. EXHIBIT B TO THE BOND PURCHASE AGREEMENT TERMS AND CONDITIONS
Sinking Fund Redemption. The Series 2020 Bonds maturing on July 1, 2045 and July 1, 2049 are subject to mandatory redemption in part by lot by operation of Sinking Fund Payments at a redemption price equal to the principal amount of the Series 2020 Bonds to be redeemed plus accrued interest to the Redemption Date as set forth in the following tables. $28,900,000 Term Bonds Maturing July 1, 2045 Sinking Fund Payment Date (July 1) Amount 2040 $4,280,000 2041 4,495,000 2042 4,720,000 2043 4,950,000 2044 5,200,000 2045* 5,255,000 * Maturity date $18,745,000 Term Bonds Maturing July 1, 2049 Sinking Fund Payment Date (July 1) Amount 2046 $4,410,000 2047 4,595,000 2048 4,775,000 2049* 4,965,000 * Maturity date EXHIBIT B FORM OF ISSUE PRICE CERTIFICATE Xxxxxxx Xxxxx & Co. LLC has acted as the underwriter (the “Underwriter”) pursuant to the Bond Purchase Agreement entered into in connection with the sale and issuance by the Dutchess County Local Development Corporation (the “Issuer”) of its Revenue Bonds, Series 2020 (Vassar College Project) (the “Bonds”), in the aggregate principal amount of $59,095,000, being issued on the date hereof, and the Underwriter hereby certifies and represents on behalf of itself as follows:
Sinking Fund Redemption. Each of the Bonds maturing on February 1, 2035 (the “Term Bonds”), shall be subject to mandatory redemption and payment from the sinking fund hereinafter described, beginning February 1, 2021, and continuing on February 1 of each year thereafter pursuant to the redemption schedule hereafter set out, at the principal amount thereof, plus accrued interest thereon to the date fixed for redemption and payment, without premium. As and for a sinking fund for the retirement of the Term Bonds, the transfers to the Series A, 2020 Principal and Interest Account required by this Resolution which are to be made for payments commencing February 1, 2021, shall be sufficient to redeem, and the Issuer agrees to redeem, the following principal amounts of the Term Bonds on February 1, in each of the following years: Redemption Date Principal Amount 2021 $50,000.00 2022 65,000.00 2023 65,000.00 2024 65,000.00 2025 170,000.00 2026 175,000.00 2027 180,000.00 2028 185,000.00 2029 190,000.00 2030 195,000.00 2031 200,000.00 2032 205,000.00 2033 205,000.00 2034 210,000.00 (Leaving $220,000 to mature on February 1, 2035)
