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not be reissued. 16 201204664 College or the Corporation has acquired in the open market or otherwise for such Term Bonds with a mandatory redemption amount due in such year, having a principal amount not greater than the principal amount required to be redeemed in such year. To the extent that the Trustee has received from the Corporation or the College such Term Bonds for cancellation, the mandatory redemption amount for such year shall be deemed satisfied. Section 4. In the event that the Trustee shall be provided with funds sufficient to make any such redemption , as provided for in Sections 2 and 3 of this Article III, prior to maturity, upon the request of either the Corporation or the College (provided that no such request is required in the case of mandatory redemptions under Section 3), the Trustee is hereby authorized and directed to take action to call and redeem Bonds in accordance with such request; provided, however, before mailing notice or taking any other action to redeem any Bonds being called for optional redemption, the Trustee in its discretion may require that such monies or investments be deposited with it as will provide in full for the payment of principal and accrued interest on the Bonds to be called for redemption as of the date fixed for redemption. The Trustee shall give notice of call for redemption without any deposit of funds prior to the date fixed for redemption (a) in the event that refunding bonds have been authorized by the Corporation for issuance under this Third Supplemental Trust Indenture and Security Agreement or otherwise and (b) whenever in its discretion the Trustee deems appropriate. Selection of the Bonds to be redeemed, in the event of any optional redemption, shall be in the sole discretion of the Corporation (at the request of the College). Section 5. Individual Bonds may be redeemed in part but only in $5,000 amounts or integral multiples thereof. Notice of the call for any redemption identifying the Bonds to be redeemed shall be given by the Trustee by mail not less than thirty days prior to the date fixed for redemption, first class, postage prepaid, sent to the registered owner of each such Bond called for redemption at said owner's registered address. The registered owner of any Bond may waive the foregoing thirty-day requirement for mailed notice of redemption. Each notice shall identify the Bonds to be redeemed by their numbers and maturities and state the date on which they shall be presented for payment. If on or before the date fixed for redemption funds have been deposited with the Trustee to pay the Bonds, the Bonds thus called shall not bear interest after such redemption date and, except for the purpose of payment, shall no longer be protected by this Third Supplemental Trust Indenture and Security Agreement and shall not be deemed to be outstanding under the provisions of this Third Supplemental Trust Indenture and Security Agreement. In case of any Bond redeemed in part, the notice of redemption shall designate the portion to be redeemed and upon presentation for redemption the Trustee shall issue a new Bond to evidence the unredeemed principal of such partially redeemed Bond. Section 6. All Bonds which have been redeemed shall be cancelled by the Trustee and shall