Common use of Payment of Debt Securities Called for Redemption Clause in Contracts

Payment of Debt Securities Called for Redemption. If notice of redemption has been given as provided in Section 12.02A, the Debt Securities with respect to which such notice has been given shall become due and payable on the Tax Redemption Date and at the place or places stated in such notice at the applicable redemption price, together with interest accrued to the date fixed for redemption and any Additional Interest, and on and after said Tax Redemption Date (unless the Company shall default in the payment of such Debt Securities at the redemption price, together with interest accrued to said date) interest on the Debt Securities so called for redemption shall cease to accrue. On presentation and surrender of such Debt Securities at a place of payment specified in said notice, such Debt Securities shall be paid and redeemed by the Company at the applicable redemption price, together with interest accrued thereon to the Tax Redemption Date.

Payment of Debt Securities Called for Redemption. If notice of redemption has been given as provided in Section 12.02A13.03, the Debt Securities with respect to which such notice has been given to the holders of the Debt Securities shall become due and payable on the Tax Redemption Date or Optional Redemption Date, as applicable, and at the place or places stated in such notice at the applicable redemption price, together with interest accrued to the date fixed for redemption and any Additional Interest, and on and after said Tax Redemption Date or Optional Redemption Date, as applicable, (unless the Company Bank shall default in the payment of such Debt Securities at the redemption price, together with interest accrued to said date) interest on the Debt Securities so called for redemption shall cease to accrue. On presentation and surrender of such Debt Securities at a place of payment specified in said notice, such Debt Securities shall be paid and redeemed by the Company Bank at the applicable redemption price, together with interest accrued thereon to the Optional Redemption Price or Tax Redemption DatePrice, as applicable.