Common use of Optional Redemption by Issuer Clause in Contracts

Optional Redemption by Issuer. This Term Note is subject to redemption upon not less than 30 days' notice by first class mail, at any time, as a whole or in part, at the election of the Issuer, without premium, together with accrued interest to the date fixed for redemption in such notice (the "Redemption Date"), but any interest installment, which is due and payable on or prior to such Redemption Date, will be payable to the Holder at the close of business on the relevant interest payment date. Each partial redemption payment shall be made as provided in the Indenture on the Outstanding Securities of this series of the Securities called for redemption. In the event of redemption of this Term Note in part only, a new Term Note or Term Notes for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.

Optional Redemption by Issuer. This Term Note is subject to redemption upon not less than 30 days' notice by first class mail, at any time, as a whole or in part, at the election of the Issuer, without premium, together with accrued interest to the date fixed for redemption in such notice (the "Redemption Date")notice, but any interest installmentinterest, which is due and payable on or prior to such Redemption Datedate, will be payable to the Holder at the close of business on the relevant interest payment date. Each partial redemption payment shall be made as provided in the Indenture on the Outstanding Securities of this series of the Securities called for redemption. [Reverse Side of Subordinated One Month Term Note] In the event of redemption of this Term Note in part only, a new Term Note or Term Notes for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.