Exercise of Right to Redeem or Defease Sample Clauses

Exercise of Right to Redeem or Defease. To exercise its right to cause a redemption or defeasance of all or a portion of the 2005 Series A Bonds, the Company shall give written notice to the County and the Trustee (i) stating that the Company has elected to exercise such right, (ii) designating the aggregate principal amount of the 2005 Series A Bonds to be redeemed or defeased, (iii) designating the aggregate principal amount of the 2005 Series A Bonds of each maturity, if applicable, to be paid, redeemed, or defeased, (iv) if all or a portion of the 2005 Series A Bonds are to be redeemed or otherwise defeased, specifying the date of redemption or the date on which a defeasance of such 2005 Series A Bonds shall occur under Section 8.01 of the Indenture, which shall not be less than forty-five (45) days from the date such notice is given, and (v) if all or a portion of the 2005 Series A Bonds are to be redeemed, designating whether such 2005 Series A Bonds are to be redeemed pursuant to Section 2.02(e)(i), (ii), or (iv) of the Indenture. In addition, in connection with any redemption or defeasance, the Company shall provide, or cause to be provided, such certificates, opinions, and other documents required by Section 8.01 of the Indenture, and, if applicable, shall cause drafts of any certificate or report of independent certified public accountants required by clause (iv) of Section 8.01(b) of the Indenture and any opinion of Bond Counsel required by clause (v) of Section 8.01(b) of the Indenture to be furnished to the Trustee and the Bond Insurer for review no later than ten (10) Business Days prior to the date on which the applicable defeasance of 2005 Series A Bonds to which such documents relate is proposed to occur. Unless otherwise stated therein, any notice by the Company as to the election to cause a redemption or defeasance of all or a portion of the 2005 Series A Bonds shall be revocable by the Company at any time prior to the time before receipt by the Trustee of the moneys tendered to effect such redemption or defeasance. If such election by the Company is revocable and the Company does not revoke, rescind or cancel such election, or if such election by the Company is irrevocable, the Company shall deposit, or cause to be deposited, with the Trustee, in immediately available funds, not later than the date selected by the Company for redemption or defeasance of all or a portion of the 2005 Series A Bonds as aforesaid, moneys, and/or Government Obligations the maturing principal of an...
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Related to Exercise of Right to Redeem or Defease

  • Right to Redeem The Board of Directors of the Company may, at its option, at any time prior to a Trigger Event, redeem all but not less than all of the then outstanding Rights at a redemption price of $.01 per Right, appropriately adjusted to reflect any stock split, stock dividend, recapitalization or similar transaction occurring after the date hereof (such redemption price being hereinafter referred to as the "Redemption Price"), and the Company may, at its option, pay the Redemption Price in Common Shares (based on the "current per share market price," determined pursuant to Section 11.4, of the Common Shares at the time of redemption), cash or any other form of consideration deemed appropriate by the Board of Directors. The redemption of the Rights by the Board of Directors may be made effective at such time, on such basis and subject to such conditions as the Board of Directors in its sole discretion may establish.

  • Option to Effect Legal Defeasance or Covenant Defeasance The Company may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officers’ Certificate, elect to have either Section 8.02 or 8.03 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 8.

  • Option to Effect Defeasance or Covenant Defeasance The Issuer or the Guarantors may, at any time, elect to have either Section 1202 or Section 1203 be applied to all the Outstanding Securities of any series designated pursuant to Section 301 as being defeasible pursuant to this Article Twelve, upon compliance with the applicable requirements provided pursuant to Section 301 and upon compliance with the conditions set forth below in this Article Twelve. Any such election shall be evidenced by a Board Resolution or in another manner specified as contemplated by Section 301 for such Securities.

  • Company’s Option to Effect Defeasance or Covenant Defeasance The Company may elect, at its option at any time, to have Section 1302 or Section 1303 applied to any Securities or any series of Securities, as the case may be, designated pursuant to Section 301 as being defeasible pursuant to such Section 1302 or 1303, in accordance with any applicable requirements provided pursuant to Section 301 and upon compliance with the conditions set forth below in this Article. Any such election shall be evidenced by a Board Resolution or in another manner specified as contemplated by Section 301 for such Securities.

  • Issuer’s Option to Effect Defeasance or Covenant Defeasance The Issuer may, at its option and at any time prior to the Stated Maturity of the Notes, by a resolution of its Board of Directors, elect to have either Section 8.02 or Section 8.03 be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article Eight.