Refunding Bond definition
Examples of Refunding Bond in a sentence
Upon the surrender for cancellation, at any time or from time to time, of Notes of this series by the Refunding Bond Trustee or any successor trustee under the Ordinance, or by the Company to the Trustee, the Notes so surrendered shall be deemed fully paid and the obligations of the Company thereunder shall be terminated, and such Notes shall be canceled by the Trustee and delivered to the Company.
Any Tax-Exempt Refunding Bond in the Flexible Mode that has a Purchase Date prior to the redemption date established for that Bond pursuant to the preceding sentence shall be redeemed on that Purchase Date.
All such payments shall be valid and effectual to satisfy and discharge the liability upon such 2019 Refunding Bond, including the interest thereon, to the extent of the sum or sums so paid.
Any 2019 Refunding Bond may be signed by such persons as at the actual time of the execution of such 2019 Refunding Bond shall be the proper officers to sign such 2019 Refunding Bond although at the date of such 2019 Refunding Bond such persons may not have been such officers.
Upon any such transfer, the Commission shall execute and the Trustee shall authenticate and deliver in exchange for such 2016B Subordinate Revenue Refunding Bond a new 2016B Subordinate Revenue Refunding Bond or Bonds, registered in the name of the transferee, of any denomination or denominations authorized by this Supplemental Indenture No. 22 and of the same maturity and Series, bearing interest at the same rate, and having the same current commencement date, if applicable.