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(d) Redemption upon a Determination of Taxability. The Bonds are also <br /> subject to mandatory redemption upon the occurrence of a Determination of Taxability <br /> (as defined in the Indenture). In such event, each of the outstanding Bonds shall be <br /> subject to mandatory redemption and shall be redeemed on the first Business Day on <br /> which proper notice thereof can be given, and the Borrower shall cause notice thereof to <br /> be given to the Holders of the Bonds, as more fully provided in Section 4.07 of the Loan <br /> Agreement,at a redemption price equal to par,plus accrued interest,and in the event that <br /> the Determination of Taxability is found to be the caused by an action voluntarily taken <br /> or not taken by the Borrower, at par, plus accrued interest and a premium equal to five <br /> percent (3%) of the principal amount of each Bond redeemed. If the are redeemed due <br /> to a Determination of Taxability, Bonds shall be redeemed in the following order: (i) <br /> first, the Senior Bonds; and (ii) second, the Subordinate Bonds. <br /> (e) <br /> Notice of any such redemption shall be given to the registered owner of each such Bond <br /> by first class mail,addressed to him at his registered address,not earlier than sixty days nor later <br /> than thirty days prior to the date fixed for redemption and shall be published as may be re e n_iired <br /> by law. In addition, at the request of the Authorized Borrower Representative, notice ! r any <br /> redemption not occurring as a result of sinking fund redemption or as a mandatory requi:,ement <br /> of the terms of the Bonds, shall include a statement that the redemption so noticed is cone caned <br /> on sufficient funds being held by the Trustee in the Bond Fund or Optional Redemption Fund <br /> on or before noon, Minneapolis time, on the applicable redemption date to pay the full <br /> redemption price, and if at such time the amount so held is not sufficient to pay all amounts <br /> required to effect the noticed redemption in full, the redemption shall be cancelled, with all <br /> Bonds tendered for such redemption being returned to the Holders thereof, and no Event of <br /> Default or liability on the part of the Borrower shall arise as a result of such cancellation. The <br /> Borrower shall pay all extraordinary fees and expenses incurred in connection with a re "tided <br /> call. Upon the happening of the above conditions,Bonds thus called shall not bear intercafter <br /> the call date and,except for the purpose ofpayment, from the funds so deposited,shall no ,ager <br /> be protected by the Indenture. <br /> This Bond is transferable,as provided in the Indenture,only upon the registration records <br /> kept at the office of the Trustee by the registered owner hereof in person or by his duly <br /> authorized attorney, upon surrender of this Bond for transfer at the office of the Trustee. duly <br /> endorsed by, or accompanied by a written instrument of transfer in form satisfactory n the <br /> Trustee duly executed by the registered owner hereof or his duly authorized attorney, ant upon <br /> payment of any tax, fee or other governmental charge required to be paid with respect ; such <br /> transfer, one or more fully registered Bonds of this series of the same principal amot, t and <br /> interest rate will be issued to the designated transferee or transferees. <br /> A-4 <br />