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Initial Mandatory Tender Date, on any Business Day on or after April 1, 2028 *, and (ii) after the Initial
Mandatory Tender Date, on any Business Day that is nearest to the date falling at fifty percent (50%) of the
subsequent remarketing period between the most recent Mandatory Tender Date and the next Mandatory
Tender Date or the Maturity Date, as applicable.
(b) Other than as set forth in paragraph (a) above, the Bonds are not subject to optional
redemption prior to the Maturity Date.
(c) If, to pay the redemption price, the Trustee is required to sell or otherwise dispose of
Eligible Investments shown in the most recent Cash Flow Projection delivered to the Rating Agency before
the maturity or mandatory tender date of such Eligible Investments, then a new Cash Flow Projection shall
be provided to the Trustee (with a copy to the Rating Agency) with the direction described in paragraph (a)
above, and the Trustee shall utilize the amounts and take the actions set forth in such Cash Flow Projection
to pay the redemption price of the Bonds called for redemption.
Notice of Redemption
Not less than twenty (20) days prior to the redemption date, the Trustee shall give written notice of
redemption to the Holders (with a copy to the Borrower, the Investor Limited Partners and the Remarketing
Agent) by first class mail, postage prepaid, at their respective addresses appearing on the Register.
Neither failure of any Holder to receive such notice nor any defect in any notice so mailed will
affect the sufficiency of the proceedings for the redemption of any of the Bonds. Each notice of redemption
will state, among other things, the redemption date, the redemption price, the place at which the Bonds are
to be surrendered for payment, that the interest on the Bonds designated for redemption will cease to accrue
from and after such redemption date and, if less than all of the Bonds outstanding are to be redeemed, an
identification of the Bonds or portions thereof to be redeemed.
Further notices of redemption shall be sent by first-class mail or overnight delivery service to any
Holder owning, on the date such notice is sent, Bonds in the aggregate principal amount of $1,000,000 or
more. In the event the Bonds are called for redemption under circumstances resulting in discharge of the
Indenture more than ninety (90) days before the redemption date, additional official and further notice of
redemption satisfying the requirements of the Indenture shall be given not less than thirty (30) nor more
than sixty (60) days prior to such redemption date.
Redemption is conditioned on the Trustee鈥檚 possession and/or receipt of sufficient Available
Money for such redemption on or prior to the redemption date; if sufficient moneys are not available, the
redemption of the Bonds for which notice was given shall not be made. Any notice of the redemption of
Bonds may state that such notice is conditional and that if the conditions for redemption of such Bonds on
the scheduled redemption date are not satisfied (including the availability of funds sufficient to redeem such
Bonds), such Bonds will not be redeemed on such date and any Bonds tendered for payment on such date
will be returned to the Holders thereof. The cancellation of such redemption shall immediately be confirmed
in a subsequent notice given immediately in substantially the same manner as the original notice of
redemption.
Notwithstanding the foregoing, as long as the Bonds are in book-entry form notice of redemption
will be given in accordance with the requirements of DTC.
* Preliminary; subject to change.
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