Owners at any time on or prior to the scheduled optional redemption date. Any notice of optional redemption that is so rescinded shall be of no effect, the rescission shall not constitute a Default, and each Series 2018 Bond for which a notice of optional redemption has been rescinded shall remain Outstanding. (f) Effect of Redemption. Interest on each Series 2018 Bond called for redemption shall cease to accrue on the date fixed for redemption, unless either the notice of optional redemption is rescinded as set forth above or money sufficient to effect such redemption is not on deposit in the Bond Fund or in a trust account established to refund or defease the Series 2018 Bond. (g) Purchase of Bonds. The University reserves the right to purchase any or all of the Series 2018 Bonds in the open market or offered to the University at any time at any price acceptable to the University plus accrued interest to the date of purchase. Section 9. Failure To Pay Series 2018 Bonds. If the principal of any Series 2018 Bond is not paid when the Series 2018 Bond is properly presented at its maturity or date fixed for redemption, the University shall be obligated to pay interest on the Series 2018 Bond at the same rate provided in the Series 2018 Bond from and after its maturity or date fixed for redemption until the Series 2018 Bond, both principal and interest, is paid in full or until sufficient money for its payment in full is on deposit in the Bond Fund or in a trust account established to refund or defease the Series 2018 Bond, and the Series 2018 Bond has been called for payment by giving notice of that call to the Registered Owner. Section 10. Bond Fund; Pledge of Gross Revenue. Pursuant to the Master Resolution, the Bond Fund has been previously created in the office of the Treasurer for the purpose of paying and securing the payment of Parity Bonds. The Bond Fund shall be held separate and
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