Common use of Exercise of Optional Prepayment Clause in Contracts

Exercise of Optional Prepayment. To exercise the option granted in Section 9.01, the City shall give written notice to the Authority, the Bond Registrar, and the Bondholder of the exercise of such option and a direction to effect the full or partial redemption of the Bond, which notice shall specify therein (i) the date of redemption, which date shall not be less than two days from the date the notice is given, (ii) the principal amount to be redeemed,

Exercise of Optional Prepayment. To exercise the option granted in Section 9.01, the City shall give written notice to the Authority, Agency and the Bond Registrar, and the Bondholder Registrar of the exercise of such option and a direction to effect the full or partial redemption of the Bond. Upon receipt of a notice given by the City pursuant to this Section 9.02, which notice the Bond Registrar shall specify therein (i) the date of redemption, which date shall not be less than two days from the date the notice is given, (ii) the principal amount forthwith take or cause to be redeemed,taken all actions necessary under the Resolution to effect the redemption of the Bond in accordance with such notice.