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extraordinary redemption |
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Extraordinary Redemption A provision which gives a bond issuer the right to call the bonds due to a one-time occurrence, as specified in the offering statement. The circumstances could range from natural disasters and cancelled projects to almost anything else. Notes: Some municipal bonds are issued with an extraordinary redemption provision.Also known as an extraordinary call or extraordinary redemption provision.
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| The bonds are subject to extraordinary redemption prior to maturity, although the opportunities for mandatory and optional redemption of these bonds are limited in comparison to other gas prepay bonds that Fitch has rated. The bonds are subject to extraordinary redemption prior to maturity, although the opportunities for mandatory and optional redemption of these bonds are limited in comparison to other gas prepay bonds that Fitch has rated. This would trigger an unwinding of the transaction pursuant to the indenture and an extraordinary redemption of the bonds. |
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extraordinary redemption