88-87 Amend 116-84 - Laserfiche WebLink

Home Browse Search

at any time in whole, or (b) on any Interest Payment Date in part in the event of condemnation of part of the Proj- ect, as provided in Section 6.2(a) or (b) of the Agreement, in each case, at a redemption price of 100 percent of the principal amount redeemed, plus interest accrued to the redemption date. (c) Mandatory Redemption Upon a Determination of Taxability. Upon the occurrence of a Determination of Taxability, the Project Bonds are subject to mandatory redemption in whole by the Issuer from the proceeds of the Company paying Advance Loan Payments pursuant to Sections 4.1 and 6.3 of the Agreement at a redemption price equal to 100 percent of the outstanding principal amount thereof, plus interest accrued to the redemption date plus, except in the case of a Determination of Taxability based upon a finding that a portion of the interest on the Project Bonds represents a return on an equity interest in the Project, an amount or amounts equal to any penalties, interest, assessments or additions to tax payable by any Holder to any taxing authority as a result of the loss of the tax exempt status of interest on the Project Bonds, at the earliest practicable date selected by the Trustee, after consultation with the Company, but in no event later than 180 days following the Trustee's notification of the Determination of Taxability. If a Determination of Taxability shall occur after a Prosect Bond has been paid and discharged hereunder, the former Holder of that Project Bond shall be entitled to receive an additional payment equal to the amount of interest paid or accrued on that Project Bond at the interest rate or rates borne by that Project Bond during the period elapsed from the Event of Taxability to the date that Project Bond was paid and discharged. The Trustee shall promptly notify the Company, the Guarantor and the Issuer of the Company's obligations under the Agreement and as to the existence of said claim and shall demand payment of the additional amount with respect to such claim. Upon receipt by the Trustee from the Company, or any Guarantor or the Issuer of such additional amount, the Trustee shall pay such additional amount to the former Holders entitled thereto by check or draft mailed to those Holders at their addresses as they last appeared on the Register. The Issuer's obligation to pay any such additional amount described in the foregoing paragraph shall survive the discharge and satisfaction of this Indenture; the Company's obligations to make payments under the Agreement to provide funds therefor To the Trustee for the account of the Issuer shall survive the discharge and satisfaction of this Indenture and the expiration, termination, discharge -13-