Mandatory Sinking Fund Redemptions. 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 Redemption Date, through the operation of a mandatory sinking fund providing for semi-annual redemption commencing and continuing on the dates and in the principal amounts specified in the Obligations, plus interest accrued thereon to the applicable sinking fund Redemption Date; provided, however, that in the event of any special redemption pursuant to Sections 3.04, 3.05 or 3.06 below, the principal amount of Obligations to be redeemed on each subsequent mandatory sinking fund Redemption Date shall be reduced by an amount equal to the principal amount of the Obligations retired by reason of such special redemption divided by the number of mandatory sinking fund Redemption Dates (including the Stated Maturity of the Obligations) scheduled thereafter.
Mandatory Sinking Fund Redemptions. The Bond is subject to mandatory sinking fund redemption pursuant to the terms of the Resolution, on February 1 in the following years and in the following amounts, at a price equal to the principal amount thereof and accrued and unpaid interest to the date of redemption, without premium: Year Principal Amount 2016 $455,000 2017 $465,000 2018 $480,000 2019 $490,000 2020 $500,000 2021 $510,000 2022 $520,000 2023 $530,000 2024 $545,000 2025 $555,000 2026* $575,000
Mandatory Sinking Fund Redemptions. The Bonds are subject to redemption at a Redemption Price equal to 100% of the principal amount thereof, together with interest accrued thereon to the applicable sinking fund Redemption Date, through the operation of a mandatory sinking fund providing for the semi-annual redemption on March 30 and September 30 of each year, commencing March 30, 1998, of $210,300 principal amount of Bonds (or such lesser principal amount of Bonds as shall then be outstanding), which amount represents two percent (2%) of the Original Principal Amount of Obligations, plus interest accrued thereon to the Redemption Date. On September 30, 2022 there shall become due and payable, and the Shipowner shall pay, the balance of the unpaid principal amount of Bonds then outstanding, together with all interest accrued thereon to such date. Notwithstanding the foregoing provisions of this subsection (a), if the principal amount of Outstanding Bonds shall be reduced by reason of any redemption pursuant to Sections 3.04 or 3.05 of Exhibit 1 to this Indenture, the principal amount of Bonds to be redeemed pursuant to this subsection (a) on each subsequent mandatory sinking fund Redemption Date for such Bonds shall be reduced by an amount equal to the principal amount of such Bonds retired by reason of such redemption pursuant to Sections 3.04 or 3.05 of Exhibit 1 hereto divided by the number of mandatory sinking fund Redemption Dates (including the Stated Maturity of such Bonds) scheduled thereafter (subject to such increase as shall be necessary so that the total principal amount of Bonds to be redeemed on any such sinking fund redemption date shall be an integral multiple of $1,000; provided that, the entire unpaid principal amount of the Outstanding Bonds shall be paid not later than September 30, 2022. The Shipowner shall, in accordance with Section 3.02(d) of Exhibit 1 hereto, promptly after each redemption pursuant to said Section 3.04, furnish to the Secretary, the Indenture Trustee and each Holder of an Obligation a revised table of sinking fund payments reflecting the reductions made pursuant to this subsection (a) as a result of such redemption. In lieu of making all or any part of any such mandatory sinking fund redemption of Bonds, the Shipowner may, at its option, with the prior written consent of the Secretary, receive credit for Bonds not previously so credited or applied to reduce the principal amount of Bonds Outstanding, (i) redeemed by the Shipowner pursuant to the option...
Mandatory Sinking Fund Redemptions. The Notes shall bear interest at the rate or rates set forth below, and are subject to mandatory sinking fund redemption in part by lot pursuant to the terms of the Ordinance, on March 1 in each of the years 2017 through 2022, inclusive, with respect to Notes maturing March 1, 2023, in the following years and in the following amounts, at a price equal to the principal amount thereof and accrued and unpaid interest to the date of redemption, without premium: Year Interest Rate (%) Principal Amount ($) 2017 $ 1,315,000 2018 1,300,000 2019 1,325,000 2020 1,355,000 2021 1,380,000 2022 1,410,000 2023* 1,440,000
Mandatory Sinking Fund Redemptions. The Certificates with a ----------------------------------- Maturity of ________________ and the Certificates with a Maturity of _____________ shall also be subject to redemption, at the principal amount thereof plus accrued interest, but without premium, in part on a pro rata basis on each date specified in this Section (a "Sinking Fund Redemption Date"). The Owner Trustee shall deposit funds sufficient to pay for such amount payable on redemption with the Indenture Trustee as provided in Section 6.04. The Indenture Trustee shall pay from the amounts so deposited on each applicable Sinking Fund Redemption Date to the Holders of each Certificate then Outstanding on a pro rata basis the aggregate principal amount set forth below, together with accrued interest to such Sinking Fund Redemption Date, but without premium (the "Sinking Fund Redemption Price"): Principal Amount ---------------- Sinking Fund Certificates Certificates Redemption Date with a Maturity of with a Maturity of --------------- ---------------------- ---------------------- $ _________________ ________________ Total $ $ - 33 -
Mandatory Sinking Fund Redemptions. The Series 2014 Certificates maturing on , are subject to mandatory redemption and payment prior to maturity in part, on in the years and amounts set forth below at a redemption price equal to the principal amount thereof plus accrued and unpaid interest to the redemption date, without premium: Year Principal Amount * Maturity
