Common use of Optional Redemption Procedures Clause in Contracts

Optional Redemption Procedures. If fewer than all of the Securities are being redeemed, the selection of Securities to be redeemed shall be made by the Trustee in compliance with the requirements governing redemptions of the principal securities exchange, if any, on which Securities are listed or if such securities exchange has no requirement governing redemption or the Securities are not then listed on a securities exchange, on a pro rata basis or by lot (or, in the case of Securities issued in global form, based on a method that most nearly approximates a pro rata selection in accordance with the procedures of DTC). The Trustee shall make the selection from the Outstanding Securities not previously called for redemption. The Trustee shall promptly notify the Issuer in writing of the Securities selected for redemption and, in the case of any Securities selected for partial redemption, the principal amount of the Securities to be redeemed. In the event of a partial redemption by lot, the Trustee shall select the particular Securities to be redeemed not less than 30 nor more than 60 days prior to the relevant Redemption Date from the Outstanding Securities not previously called for redemption. The Issuer may redeem Securities in denominations of U.S.$100,000 only in whole. The Trustee may select for redemption portions (equal to U.S.$100,000 or any integral multiple of U.S.$1,000) of the principal of Securities that have denominations larger than U.S.$100,000. The Issuer shall give or cause the Trustee to give notice of redemption, in the manner provided for in Section 13.01 of the Indenture, not less than 30 nor more than 60 days prior to a date for redemption of Securities by first-class mail, postage prepaid, to each Securityholder to be redeemed at its registered address or otherwise in accordance with the procedures of DTC. If the Issuer itself gives the notice, it shall also deliver a copy to the Trustee.

Optional Redemption Procedures. If fewer than all of the Securities are being redeemed, the selection of Securities to be redeemed shall be made by the Trustee in compliance with the requirements governing redemptions of the principal securities exchange, if any, on which Securities are listed or if such securities exchange has no requirement governing redemption or the Securities are not then listed on a securities exchange, on a pro rata basis or by lot (or, in the case of Securities issued in global form, based on a method that most nearly approximates a pro rata selection in accordance with the procedures of DTC). The Trustee shall make the selection from the Outstanding Securities not previously called for redemption. The Trustee shall promptly notify the Issuer in writing of the Securities selected for redemption and, in the case of any Securities selected for partial redemption, the principal amount of the Securities to be redeemed. In the event of a partial redemption by lot, the Trustee shall select the particular Securities to be redeemed not less than 30 nor more than 60 days prior to the relevant Redemption Date from the Outstanding Securities not previously called for redemption. The Issuer may redeem Securities in denominations of U.S.$100,000 U.S.$150,000 only in whole. The Trustee may select for redemption portions (equal to U.S.$100,000 U.S.$150,000 or any integral multiple of U.S.$1,000U.S.$1,000 in excess thereof) of the principal of Securities that have denominations larger than U.S.$100,000U.S.$150,000. The Issuer shall give or cause the Trustee to give notice of redemption, in the manner provided for in Section 13.01 of the Indenture, not less than 30 nor more than 60 days prior to a date for redemption of Securities by first-class mail, postage prepaid, to each Securityholder to be redeemed at its registered address or otherwise in accordance with the procedures of DTC. If the Issuer itself gives the notice, it shall also deliver a copy to the Trustee.