Agenda - Council - 07/12/2022 - Laserfiche WebLink

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at 100% of the principal amount thereof plus accrued interest to the date of redemption, on the following dates and in the following principal amounts: $ *Series 2022E Bonds Maturing June 1,2026* Payment Date Principal (June 1) Amount 2025 20260) Stated Maturity. At the option of the Company, to be exercised by delivery of a written certificate to the Trustee (which may be by Electronic Means in accordance with the Indenture) not less than forty-five (45) days next preceeding any sinking fund redemption date, the Company may (i) deliver to the Trustee for cancellation such Series 2022 Bonds in an aggregate principal amount desired by the Company, or (ii) specify a principal amount of Bonds which,prior to said date,have been redeemed(otherwise than through mandatory redemption) and canceled by the Trustee and not theretofore applied as a credit against any sinking fund redemption obligation. Each such Bond so delivered or previously redeemed shall be credited by the Trustee at one hundred percent (100%) of the principal amount against the obligation of the Issuer on such mandatory sinking fund redemption date,and any excess shall be so credited against future sinking fund redemption obligations on such Bonds in chronological order. In the event the Company shall avail itself of the provisions of clause (i) of the first sentence of this paragraph, the certificate required by the first sentence of this paragraph shall be accompanied by the Bonds to be canceled. Extraordinary Redemption. The Series 2022 Bonds are subject to redemption at any time upon the occurrence of any of the following events: (i) the School Facilities or any portion thereof, is damaged or destroyed or taken in a condemnation proceeding and the Company elects to apply Net Proceeds to redemption of all or a portion of the Series 2022 Bonds; (ii) any of the events described below under the heading "Option to Redeem Bonds Upon Occurrence of Certain Events" have occurred and upon the Company's exercising its option to prepay the Loan; or (iii) upon acceleration because of an Event of Default; or(iv)in the event of a Determination of Taxability. If called for redemption at any time pursuant to clause (i), clause (ii), or clause (iii) above, the Series 2022 Bonds shall be subject to redemption by the Issuer prior to maturity at any time in whole or(in the case of redemption pursuant to Section(b)below, in part), in such manner as the Company may direct, less than all of such Bonds of a single maturity to be selected randomly in such manner as the Trustee may determine, such redemption to be at a redemption price of one hundred percent(100%)of the principal amount thereof plus accrued interest to the redemption date. Option to Redeem Bonds Upon Occurrence of Certain Events. (a) If,at any time,the School Facilities shall have been damaged or destroyed(i)to such extent that it cannot be reasonably restored within a period of six(6)months to substantially the condition thereof immediately preceding such damage or destruction, (ii) to such extent that the Company or the Charter School is thereby prevented, in the Company's judgment, from carrying on its normal operations at the School Facilities for a period of six (6) months or more, or (iii) to such extent that the cost of restoration thereof would exceed the Net Proceeds of insurance required to be carried thereon pursuant to the requirements of the Loan Agreement. (b) If, at any time,title to, or the temporary use for a period of six(6)months or more of all or substantially all of the School Facilities, or such part thereof as shall materially interfere in the Company's *Preliminary, subject to change. 12