Common use of Optional Redemption by Company Clause in Contracts

Optional Redemption by Company. (a) Except as provided in Section 3.1, the Debentures shall not be subject to redemption at the option of the Company prior to June 1, 2000. (b) Subject to the provisions of Article Eleven of the Base Indenture, the Company shall have the right to redeem the Convertible Debentures, in whole or in part, from time to time, on or after June 1, 2000, upon not less than 30 nor more than 60 days notice to the Holders of the Convertible Debentures, at the following prices (expressed as percentages of the principal amount of the Convertible Debentures), together (except as provided below) with accrued and unpaid interest, including, to the extent permitted by applicable law, Compounded Interest and Additional Interest, if any, to, but excluding, the Redemption Date, if redeemed during the 12-month period beginning June 1: Year Redemption Price ---- ---------------- 2000........................ 103.125% 2001........................ 102.500% 2002........................ 101.875% 2003........................ 101.250% 2004........................ 100.625% and 100% if redeemed on or after June 1, 2005. Notwithstanding the foregoing provisions of this Section 3.2(b), if the Company shall redeem any Debentures pursuant to Section 3.1 hereof on or after June 1, 2000, then the Redemption Price of such Debentures shall be the Redemption Price set forth in Section 3.1 and not the Redemption Price set forth in this Section 3.2(b). Without limitation to the second proviso to the first paragraph of Section 1106 of the Base Indenture, if Convertible Debentures are redeemed on any June 1, September 1, December 1 or March 1, accrued and unpaid interest which is due and payable on such Interest Payment Date shall be payable to the Holders of record at the close of business on the relevant Regular Record Date. So long as the Trust Securities are outstanding, the proceeds from the redemption of the Convertible Debentures will be used to redeem Trust Securities having an aggregate liquidation amount equal to the aggregate principal amount of the Convertible Debentures so redeemed. The Redemption Price for the Convertible Debentures to be redeemed shall be paid on the Redemption Date or at such earlier time as the Company determines; provided that the Company shall deposit with the Trustee an amount sufficient to pay the Redemption Price on the date such Redemption Price is to be paid.

Optional Redemption by Company. (a) Except as provided in Subject to the provisions of Section 3.1, the Debentures shall not be subject to redemption at the option of the Company prior to June 1, 2000. (b3.2(b) Subject and to the provisions of Article Eleven of the Base Indenture, except as otherwise may be specified in Section 3.1 or elsewhere in this First Supplemental Indenture, the Company shall have the right to redeem the Convertible Debentures, in whole or in part, from time to time, on or after June 1December 15, 2000, 1999. Any redemption pursuant to this paragraph will be made upon not less than 30 days nor more than 60 days notice to the Holders of the Convertible Debentures, at the following prices (expressed as percentages of the principal amount of the Convertible Debentures), ) (the "Optional Redemption Price") together (except as provided below) with accrued and unpaid interest, including, to the extent permitted by applicable law, including Compounded Interest and Additional Interest, if any, Interest to, but excluding, the Redemption Date, if redeemed during the 12-month period beginning June 1December 15: Year Redemption Price ---- ---------------- ----------------- 1999.......................... 104.026% 2000........................ 103.125.......................... 103.450% 2001........................ 102.500.......................... 102.876% 2002........................ 101.875.......................... 102.300% 2003........................ 101.250.......................... 101.726% 2004........................ 100.625.......................... 101.150% 2005.......................... 100.576% and 100% if redeemed on or after June 1December 15, 20052006. Notwithstanding the foregoing provisions of this Section 3.2(b), if the Company shall redeem any Debentures pursuant to Section 3.1 hereof on or after June 1, 2000, then the Redemption Price of such Debentures shall be the Redemption Price set forth in Section 3.1 and not the Redemption Price set forth in this Section 3.2(b). Without limitation to the second proviso to the first paragraph of Section 1106 of the Base Indenture, if If Convertible Debentures are redeemed on any March 15, June 115, September 115, or December 1 or March 115, accrued and unpaid interest which is due and payable on such Interest Payment Date shall be payable to the Holders of record at the close of business on the relevant Regular Record Daterecord date. So long as the corresponding Trust Preferred Securities are outstanding, the proceeds from the redemption of the Convertible Debentures will be used to redeem Trust Securities having an aggregate liquidation amount equal to the aggregate principal amount of the Convertible Debentures so redeemed. The Redemption Price for If the Convertible Debentures are only partially redeemed pursuant to this Section 3.2, the Convertible Debentures will be redeemed pro rata or by lot or by any other method utilized by the Trustee. The Optional Redemption Price shall be paid prior to 12:00 noon, New York time, on the Redemption Date or at such earlier time as the Company determines; provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Redemption Price by 10:00 a.m., New York time, on the date such Optional Redemption Price is to be paid. (b) If a partial redemption of the Convertible Debentures would result in the delisting of the Trust Preferred Securities issued by the Trust from any national securities exchange or other organization on which the Trust Preferred Securities are then listed, the Company shall not be permitted to effect such partial redemption and may only redeem the Convertible Debentures in whole.

Optional Redemption by Company. (a) Except as provided in Subject to the provisions of Section 3.1, the Debentures shall not be subject to redemption at the option of the Company prior to June 1, 2000. (b3.2(b) Subject and to the provisions of Article Eleven of the Base Indenture, except as otherwise may be specified in this First Supplemental Indenture, the Company shall have the right to redeem the Convertible Debentures, in whole or in part, from time to time, on or after June 1_________, 2000____, upon not less than 30 days nor more than 60 days notice to the Holders Holder of the Convertible Debentures, Debentures [at the following prices (expressed as percentages a redemption price equal to 100% of the principal amount of the Convertible Debentures), together (except as provided below) with to be redeemed plus any accrued and unpaid interestinterest thereon, including, to the extent permitted by applicable law, including Compounded Interest and Additional Interest, if any, toto the date of such redemption (the "Optional Redemption Price").] [at the following redemption prices (expressed as a percentage of the principal amount of the Debentures being redeemed) plus accrued and unpaid interest thereon, but excludingincluding Compounded Interest and Additional Interest, if any, to the redemption date (in any such case, an "Optional Redemption DatePrice"), if redeemed during the 12-12 month period beginning June 1commencing on __________ of the years set forth below: Year Period Redemption Price ---- ------ ---------------- 2000........................ 103.1252008 104.665% 2001........................ 102.500% 2002........................ 101.875% 2003........................ 101.250% 2004........................ 100.625% 2009 104.199 2010 103.732 2011 103.266 2012 102.799 2013 102.333 2014 101.866 2015 101.400 2016 100.933 2017 100.467 and at 100% if redeemed on or after June 1__________, 2005. Notwithstanding 2018] If the foregoing provisions of Debentures are only partially redeemed pursuant to this Section 3.2(b)3.2, the Debentures will be redeemed pro rata or by lot or by any other method utilized by the Trustee; provided, that if at the Company time of redemption the Debentures are registered as a Global Debenture, the Depository shall redeem any Debentures pursuant to Section 3.1 hereof on or after June 1determine, 2000in accordance with its procedures, then the Redemption Price principal amount of such Debentures shall held by each Debenture Holder to be the Redemption Price set forth in Section 3.1 and not the Redemption Price set forth in this Section 3.2(b). Without limitation to the second proviso to the first paragraph of Section 1106 of the Base Indenture, if Convertible Debentures are redeemed on any June 1, September 1, December 1 or March 1, accrued and unpaid interest which is due and payable on such Interest Payment Date shall be payable to the Holders of record at the close of business on the relevant Regular Record Date. So long as the Trust Securities are outstanding, the proceeds from the redemption of the Convertible Debentures will be used to redeem Trust Securities having an aggregate liquidation amount equal to the aggregate principal amount of the Convertible Debentures so redeemed. The Optional Redemption Price for the Convertible Debentures to be redeemed shall be paid prior to 12:00 noon, New York time, on the Redemption Date date of such redemption or at such earlier time as the Company determines; , provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Redemption Price by 10:00 a.m., New York time, on the date such Optional Redemption Price is to be paid. (b) If a partial redemption of the Debentures would result in the delisting of the Preferred Securities issued by the Trust from any national securities exchange or other organization on which the Preferred Securities are then listed, the Company shall not be permitted to effect such partial redemption and may only redeem the Debentures in whole.

Optional Redemption by Company. (a) Except as provided in Section 3.1, the Debentures shall not be subject to redemption at the option of the Company prior to June 1, 2000. (b) Subject to the provisions of this Article Eleven of the Base IndentureXIV, the Company shall have the right to redeem the Convertible DebenturesSecurities, in whole or in part, from time to time, on or after June 1January 15, 2000, upon not less than 30 nor more than 60 days notice to the Holders of the Convertible Debentures2007, at the following optional redemption prices set forth below (expressed as percentages a percentage of the outstanding principal amount of the Convertible Debentures)to be redeemed ) plus, together (except as provided below) with in either case, accrued and unpaid interest, including, to the extent permitted by applicable law, Compounded interest thereon (including Additional Interest and Additional Compounded Interest, if any, to, but excluding, ) to the applicable date of redemption (the "Optional Redemption Date, Price") if redeemed during the 12-month period beginning June 1: Year Redemption Price January 15 of the years indicated below. YEAR PERCENTAGE ---- ---------------- 2000........................ 103.125---------- 2007.................. 104.825% 2001........................ 102.5002008.................. 104.343% 2002........................ 101.8752009.................. 103.860% 2003........................ 101.2502010.................. 103.378% 2004........................ 100.6252011.................. 102.895% 2012.................. 102.413% 2013.................. 101.930% 2014.................. 101.448% 2015.................. 100.965% 2016.................. 100.483% 2017 and 100thereafter... 100.000% if If the Securities are only partially redeemed on or after June 1, 2005. Notwithstanding the foregoing provisions of pursuant to this Section 3.2(b)14.2, the Securities will be redeemed pro rata or by lot or by any other method --- ---- utilized by the Trustee; provided, that if the Company shall redeem any Debentures pursuant to Section 3.1 hereof on or after June 1, 2000, then the Redemption Price of such Debentures shall be the Redemption Price set forth in Section 3.1 and not the Redemption Price set forth in this Section 3.2(b). Without limitation to the second proviso to the first paragraph of Section 1106 of the Base Indenture, if Convertible Debentures are redeemed on any June 1, September 1, December 1 or March 1, accrued and unpaid interest which is due and payable on such Interest Payment Date shall be payable to the Holders of record at the close time of business on redemption the relevant Regular Record Date. So long as the Trust -------- Securities are outstandingregistered as a Global Security, the proceeds from Depositary shall determine, in accordance with its procedures, the redemption of the Convertible Debentures will be used to redeem Trust Securities having an aggregate liquidation amount equal to the aggregate principal amount of the Convertible Debentures so such Securities held by each participant (and, indirectly, beneficial owner) of a Security to be redeemed. The Optional Redemption Price for the Convertible Debentures to be redeemed shall be paid prior to 12:00 noon, New York City time, on the Redemption Date date of such redemption or at such earlier time as the Company determines; , provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Redemption Price by 10:00 a.m., New York time, on the date such Optional Redemption Price is to be paid. (b) Notwithstanding the first sentence of Section 14.2, upon the entry of an order for dissolution of BFC Capital Trust by a court of competent jurisdiction, the Securities thereafter will be subject to optional redemption, in whole only, but not in part, on or after January 15, 2007, at the optional redemption prices set forth in Section 14.2(a) and otherwise in accordance with this Article XIV. (c) Any redemption of Securities pursuant to Section 14.1 or Section 14.2 shall be subject to the Company obtaining the prior approval of the Federal Reserve, if such approval is then required under applicable capital guidelines or policies of the Federal Reserve.

Optional Redemption by Company. (a) Except as provided in Section 3.1, the Debentures shall not be subject to redemption at the option of the Company prior to June 1, 2000. (b) Subject to the provisions of Article Eleven Three of the Base Indenture, the Company shall have the right to redeem the Convertible DebenturesNotes, in whole or in part, from time to time, on or after June 1March 31, 20002007, at the following redemption prices (expressed in percentages of principal amount), plus in each case accrued and unpaid interest thereon to the date of such redemption (the "Optional Redemption Price"), if redeemed during the 12-month period beginning March 31 of each year indicated below: Optional -------- Year Redemption Price ---- ---------------- 2007 ................................ 104.8250% 2008 ................................ 104.3425 2009 ................................ 103.8600 2010 ................................ 103.3775 2011 ................................ 102.8950 2012 ................................ 102.4125 2013 ................................ 101.9300 2014 ................................ 101.4475 2015 ................................ 100.9650 2016 ................................ 100.4825 2017 and thereafter ................. 100.0000 Any redemption pursuant to this Section 3.2 shall be made upon not less than 30 nor more than 60 days notice to the Holders registered Holder of the Convertible DebenturesNotes, at the following prices (expressed as percentages of Optional Redemption Price. If the principal amount of the Convertible Debentures), together (except as provided below) with accrued and unpaid interest, including, Notes are only partially redeemed pursuant to the extent permitted by applicable law, Compounded Interest and Additional Interest, if any, to, but excludingthis Section 3.2, the Redemption Date, if Notes will be redeemed during pro rata or by lot or by any other method utilized by the 12-month period beginning June 1: Year Trustee. The Optional Redemption Price ---- ---------------- 2000........................ 103.125% 2001........................ 102.500% 2002........................ 101.875% 2003........................ 101.250% 2004........................ 100.625% and 100% if redeemed on or after June 1, 2005. Notwithstanding the foregoing provisions of this Section 3.2(b), if the Company shall redeem any Debentures pursuant to Section 3.1 hereof on or after June 1, 2000, then the Redemption Price of such Debentures shall be the Redemption Price set forth in Section 3.1 and not the Redemption Price set forth in this Section 3.2(b). Without limitation to the second proviso to the first paragraph of Section 1106 of the Base Indenture, if Convertible Debentures are redeemed on any June 1, September 1, December 1 or March 1, accrued and unpaid interest which is due and payable on such Interest Payment Date shall be payable to the Holders of record at the close of business on the relevant Regular Record Date. So long as the Trust Securities are outstanding, the proceeds from the redemption of the Convertible Debentures will be used to redeem Trust Securities having an aggregate liquidation amount equal to the aggregate principal amount of the Convertible Debentures so redeemed. The Redemption Price for the Convertible Debentures to be redeemed shall be paid prior to 12:00 noon, New York City time, on the Redemption Date date of such redemption or at such earlier time as the Company determines; determines and specifies in the notice of redemption, provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Redemption Price by 11:00 a.m., New York City time, on the date such Optional Redemption Price is to be paid.

Optional Redemption by Company. (a) Except as provided in Section 3.1, the Debentures shall not be subject to redemption at the option of the Company prior to June 1, 2000. (b) Subject to the provisions of Section 3.3 and to the provisions of Article Eleven 3 of the Base Indenture, the Company shall have the right to redeem the Convertible Debentures, in whole or in part, from part at any time to time, on or after June 1____________, 2000, ______. Any redemption pursuant to this Section 3.2 will be made upon not less than 30 days nor more than 60 days notice to the Holders of the Convertible Debentures, at the following prices (expressed as percentages of the principal amount of the Convertible Debentures), ) (the "Optional Redemption Price") together (except as provided below) with accrued and unpaid interest, including, to the extent permitted by applicable law, including Compounded Interest and Additional Interest, if any, Interest to, but excluding, the Redemption Dateredemption date, if redeemed during the 12-month period beginning June 1on ____________1 (other than the first period, which will begin on ___________, _______) of the following years: Year Redemption Price ---- ---------------- 2000........................ 103.125____ ________________ _____ ______% 2001........................ 102.500_____ ______% 2002........................ 101.875_____ ______% 2003........................ 101.250_____ ______% 2004........................ 100.625_____ ______% and 100% if redeemed on or after June __________ 1, 2005______. Notwithstanding the foregoing provisions of this Section 3.2(b), if the The Company shall may not redeem any Debentures pursuant to Section 3.1 hereof unless all accrued and unpaid interest has been paid on all outstanding Debentures for all quarterly interest payment periods terminating on or after June 1, 2000, then the Redemption Price of such Debentures shall be the Redemption Price set forth in Section 3.1 and not the Redemption Price set forth in this Section 3.2(b). Without limitation prior to the second proviso to last Interest Payment Date before the first paragraph date of Section 1106 of the Base Indenture, if Convertible redemption. If Debentures are redeemed on any March 1, June 1, September 1, or December 1 or March 1, accrued and unpaid interest which is due and payable on such Interest Payment Date shall be payable to the Holders of record at the close of business on the relevant Regular Record Date. So long as the Trust Securities are outstanding, the proceeds from the redemption of the Convertible Debentures will be used to redeem Trust Securities having an aggregate liquidation amount equal to the aggregate principal amount of the Convertible Debentures so redeemedrecord date. The Company shall issue a press release announcing any redemption pursuant to this Section 3.2. The Optional Redemption Price for the Convertible Debentures to be redeemed plus such accrued and unpaid interest thereon shall be paid prior to 12:00 noon, New York time, on the Redemption Date date fixed by the Company for such redemption or at such earlier time as the Company determines; , provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Redemption Price Price, plus accrued and unpaid interest thereon, by 10:00 a.m., New York time, on the date such Optional Redemption Price is to be paid.

Optional Redemption by Company. (a) Except as provided in Section 3.1, the Debentures shall not be subject to redemption at the option of the Company prior to June 1, 2000. (b) Subject to the provisions of Article Eleven prior approval of the Base IndentureBoard of Governors of the Federal Reserve System, if such approval is then required under applicable law, rules, guidelines or policies, the Company shall have the right to redeem the Convertible Debentures, in whole or in part, from time to time, on or after June 1_____, 2000_____, upon not less than 30 nor more than 60 days days' notice to the Holders of the Convertible Debentures, at the following redemption prices (expressed as percentages a percentage of the principal amount of the Convertible Debentures), together (except as provided belowSubordinated Debentures being redeemed) with plus accrued and unpaid interestinterest thereon, including, to the extent permitted by applicable law, including Compounded Interest and Additional Interest, if any, toto the redemption date (in any such case, but excluding, the an "Optional Redemption DatePrice"), if redeemed during the 12-month period beginning June 1commencing on _____ of the years set forth below: Year Redemption Period Price ---- ---------------- 2000........................ 103.125------ ---------- _____ _____% 2001........................ 102.500% 2002........................ 101.875% 2003........................ 101.250% 2004........................ 100.625% _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ and 100% if thereafter _____ (b) If the Debentures are only partially redeemed on or after June 1, 2005. Notwithstanding the foregoing provisions of pursuant to this Section 3.2(b)3.3, the Debentures will be redeemed pro rata or by lot or by any other method utilized by the Security Registrar; provided, that if at the time of redemption the Debentures are registered as a Global Debenture, the Depositary shall determine, in accordance with its procedures, the principal amount of such Debentures beneficially held by each Holder of Debentures to be redeemed. (c) If a partial redemption of the Debentures would result in the delisting of the Preferred Securities issued by the Trust from any national securities exchange or interdealer quotation system or other organization on which the Preferred Securities are then listed, the Company shall not be permitted to effect such partial redemption and may only redeem any the Debentures pursuant to Section 3.1 hereof on or after June 1, 2000, then the Redemption Price of such Debentures shall be the Redemption Price set forth in Section 3.1 and not the Redemption Price set forth in this Section 3.2(b). Without limitation to the second proviso to the first paragraph of Section 1106 of the Base Indenture, if Convertible Debentures are redeemed on any June 1, September 1, December 1 or March 1, accrued and unpaid interest which is due and payable on such Interest Payment Date shall be payable to the Holders of record at the close of business on the relevant Regular Record Date. So long as the Trust Securities are outstanding, the proceeds from the redemption of the Convertible Debentures will be used to redeem Trust Securities having an aggregate liquidation amount equal to the aggregate principal amount of the Convertible Debentures so redeemed. The Redemption Price for the Convertible Debentures to be redeemed shall be paid on the Redemption Date or at such earlier time as the Company determines; provided that the Company shall deposit with the Trustee an amount sufficient to pay the Redemption Price on the date such Redemption Price is to be paidwhole.

Optional Redemption by Company. (a) Except as provided in Section 3.1, the Debentures shall not be subject to redemption at the option of the Company prior to June 1, 2000. (b) Subject to the provisions of Section 10.2(b) and to the provisions of this Article Eleven of the Base X generally, except as otherwise may be specified in Section 10.1 or elsewhere in this Indenture, the Company shall have the right to redeem the Convertible Debentures, in whole or in part, from time to time, on or after June 1April 18, 2000, 2003. Any redemption pursuant to this paragraph will be made upon not less than 30 days nor more than 60 days notice to the Holders of the Convertible Debentures, at the following prices (expressed as percentages of the principal amount of the Convertible Debentures), ) (the "Optional Redemption Price") together (except as provided below) with accrued and unpaid interestinterest (including Additional Sums, includingif any, and, to the extent permitted by applicable law, Compounded Interest and Additional Compound Interest, if any, ) to, but excluding, the Redemption Dateredemption date, if redeemed during the 12-month period beginning June 1April 18, of the applicable year set forth below: Year Redemption Price ---- ---------------- 2000........................ 103.125-------------------------------------- YEAR REDEMPTION PRICE -------------------------------------- 2003 105.43% 2001........................ 102.500-------------------------------------- 2004 104.65% 2002........................ 101.875-------------------------------------- 2005 103.88% 2003........................ 101.250-------------------------------------- 2006 103.10% 2004........................ 100.625-------------------------------------- 2007 102.33% -------------------------------------- 2008 101.55% -------------------------------------- 2009 100.78% -------------------------------------- and 100% if redeemed on or after June 1April `8, 20052010. Notwithstanding the foregoing provisions of this Section 3.2(b), if the Company shall redeem any Debentures pursuant to Section 3.1 hereof on or after June 1, 2000, then the Redemption Price of such Debentures shall be the Redemption Price set forth in Section 3.1 and not the Redemption Price set forth in this Section 3.2(b). Without limitation to the second proviso to the first paragraph of Section 1106 of the Base Indenture, if If Convertible Debentures are redeemed on any June 1January 15, September 1April 15, December 1 or March 1July 15 and October 15, accrued and unpaid interest which is due and payable on such Interest Payment Date shall be payable to the Holders holders of record at the close of business on the relevant Regular Record Daterecord date. The Company may not redeem fewer than all of the outstanding Convertible Debentures unless all accrued and unpaid interest has been paid on all Convertible Debentures for all quarterly interest payment periods terminating on or prior to the date of redemption. So long as the corresponding Trust Securities are outstanding, the proceeds from the redemption of the Convertible Debentures will be used to redeem the Trust Securities having an aggregate liquidation amount equal to the aggregate principal amount of Securities. If the Convertible Debentures so redeemed. The Redemption Price for are only partially redeemed pursuant to this Section 10.2, the Convertible Debentures to will be redeemed pro rata. The Optional Redemption Price, together with any required interest payment, shall be paid prior to 12:00 noon, New York time, on the Redemption Date redemption date or at such earlier time as the Company determines; determines provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Redemption Price Price, together with any required interest payment, by 10:00 a.m., New York time, on the date such Redemption Price is amounts are to be paid. Partial redemptions must be in an amount not less than $1,000 principal amount of Convertible Debentures. If Convertible Debentures selected for partial redemption are converted in part before termination of the conversion right with respect to the portion of the Convertible Debentures so selected, the converted portion of the Convertible Debentures shall be deemed (so far as may be) to be the portion selected for redemption. Convertible Debentures (or portions thereof) which have been converted during a selection of Convertible Debentures to be redeemed shall be treated by the Trustee as Outstanding for the purpose of such selection. In any case where more than one Convertible Debenture is registered in the same name, the Trustee in its discretion may treat the aggregate principal amount so registered as if it were represented by one Convertible Debenture. If any Convertible Debenture called for redemption is converted into Common Stock of the Company, any money deposited with the Trustee or with any Paying Agent or so segregated and held in trust for the redemption of such Convertible Debenture shall (subject to any right of the Holder of such Convertible Debenture or any Predecessor Convertible Debenture to receive interest as provided in the last paragraph of Section 2.9) be paid to the Company upon the Company's request or, if then held by the Company, shall be discharged from such trust. (b) If a partial redemption of the Convertible Debentures would result in the delisting of the Convertible Preferred Securities issued by the Trust from any national securities exchange or other organization on which the Convertible Preferred Securities are then listed, the Company shall not be permitted to effect such partial redemption and may only redeem the Convertible Debentures in whole.