Common use of Remarketing of Bonds Clause in Contracts

Remarketing of Bonds. Pursuant to the Remarketing Agreement, the Remarketing Agent will use its best efforts to remarket the Bonds at a price of par plus accrued interest, if any, and shall give notice by telephone or telex, promptly confirmed in writing, at or prior to 12:00 noon, New York City time, on the Business Day preceding the date any Bonds are to be purchased, to the Company, the Trustee and the Tender Agent, specifying the principal amount of such Bonds, if any, remarketed and the registration information of the purchasers, and shall deliver the proceeds of such sale to the Trustee.