Laserfiche WebLink
<br />47 <br /> <br />indemnity furnished to the Issuer, the Trustee, the Borrower, the Bank and the Confirming Bank <br />by the nondelivering Holder. If any lost, wrongfully taken, undelivered or destroyed Bond shall <br />have matured, instead of issuing a new Bond, the Authorized Borrower Representative may direct <br />the Trustee to pay that Bond without surrender thereof upon the furnishing of satisfactory evidence <br />and indemnity as in the case of issuance of a new Bond. The Issuer and the Trustee may charge <br />the Holder of a mutilated, lost, wrongfully taken, undelivered or destroyed Bond their reasonable <br />fees and expenses in connection with their actions pursuant to this Section. <br />Every new Bond issued pursuant to this Section by reason of any Bond being lost, <br />wrongfully taken, undelivered or destroyed (a) shall constitute, to the extent of the outstanding <br />principal amount of the Bond lost, taken or destroyed, an additional contractual obligation of the <br />Issuer, regardless of whether the lost, wrongfully taken or destroyed Bond shall be enforceable at <br />any time by anyone and (b) shall be entitled to all of the benefits of this Indenture equally and <br />proportionately with any and all other Bonds issued and outstanding hereunder. <br />Section 3.08. Cancellation of Bonds.Except as provided in Section 3.06 hereof, any <br />Bonds surrendered pursuant to this Article for the purpose of payment or retirement or for <br />exchange, replacement or transfer shall be canceled upon presentation and surrender thereof to the <br />Trustee. <br /> <br />The Issuer, or the Borrower on behalf of the Issuer, may deliver at any time to the Trustee <br />for cancellation any Bonds previously authenticated and delivered hereunder, which the Issuer or <br />the Borrower may have acquired in any manner whatsoever. All Bonds so delivered shall be <br />canceled promptly by the Trustee. Certification of the surrender and cancellation shall be made <br />to the Issuer, the Bank and the Confirming Bank, if any, by the Trustee as such cancellations <br />occur. Those canceled Bonds shall be destroyed by the Trustee by shredding or incineration. <br />The Trustee shall provide certificates describing the destruction of canceled Bonds to the Issuer, <br />the Borrower, the Bank and the Confirming Bank, if any. <br />END OF ARTICLE III <br /> <br /> <br />ARTICLE IV <br />REDEMPTION OF BONDS <br />Section 4.01. Terms of Redemption of Project Bonds.The Project Bonds are subject to <br />redemption prior to stated maturity as follows: <br /> <br />(a) Mandatory Redemption Upon a Determination of Taxability. Upon the <br />occurrence of a Determination of Taxability, all Project Bonds to which such <br />Determination of Taxability is applicable are subject to mandatory redemption in whole at <br />a redemption price equal to 100% of the outstanding principal amount thereof, plus interest <br />accrued to the redemption date, at the earliest practicable date selected by the Trustee, after <br />consultation with the Borrower, but in no event later than 45 days following receipt by the <br />Trustee of notice of the Determination of Taxability. The occurrence of a Determination <br />of Taxability with respect to the Project Bonds will not constitute an Event of Default under <br />this Indenture.