Redemption at the Option of the Operating Partnership. (1) Prior to the Par Call Date, the Operating Partnership may redeem the Notes at its option, in whole or in part, at any time and from time to time, at a Redemption Price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of: (i) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption Date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points (0.200%) less (b) accrued and unpaid interest to, but not including, the Redemption Date, and (ii) 100% of the principal amount of the Notes being redeemed, plus, in either case, accrued and unpaid interest thereon to, but not including, the Redemption Date. On or after the Par Call Date, the Operating Partnership may redeem the Notes, in whole or in part, at any time and from time to time, at a Redemption Price equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest thereon to, but not including, the Redemption Date. Notwithstanding the foregoing, if the Redemption Date falls after a Record Date and on or prior to the corresponding Interest Payment Date, the Operating Partnership will pay the full amount of accrued and unpaid interest due on such Interest Payment Date to the Holder of record at the close of business on such Record Date. In connection with any redemption prior to the Par Call Date, the Operating Partnership shall give the Trustee written notice of the related Redemption Price promptly after the calculation thereof and the Trustee shall not be responsible for such calculation. (2) The Operating Partnership shall not redeem the Notes pursuant to Section 1.4(d)(1) hereof on any date if the principal amount of the Notes has been accelerated, and such an acceleration has not been rescinded or annulled on or prior to such date.
Appears in 2 contracts
Sources: Fourth Supplemental Indenture (Kite Realty Group, L.P.), Third Supplemental Indenture (Kite Realty Group, L.P.)
Redemption at the Option of the Operating Partnership. (1) Prior to the Par Call Date, the The Operating Partnership may shall have the right to redeem the Notes at its option, option and in its sole discretion at any time or from time to time prior to the Par Call Date in whole or in part, part at any time and from time to time, at a the Redemption Price specified in the next sentence. The redemption price (expressed as a percentage “Redemption Price”) will equal the greater of (i) 100% of the principal amount of the Notes to be redeemed and rounded to three decimal places(ii) equal to as determined by the greater of: (i)
(a) Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted on the Notes to the Redemption Date (assuming the be redeemed that would be due if such Notes matured on the Par Call Date but for the redemption thereof (not including any portion of such payments of interest accrued as of the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate plus 20 basis points (0.200%) less (b) accrued and unpaid interest to, but not including, the Redemption Date, and (ii) 100% of the principal amount of the Notes being redeemed), plus, in either each case, accrued and unpaid interest thereon to, but not including, to the Redemption Date. On or after the Par Call Date; provided, the Operating Partnership may redeem the Noteshowever, in whole or in part, at any time and from time to time, at a Redemption Price equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest thereon to, but not including, the Redemption Date. Notwithstanding the foregoing, that if the Redemption Date falls after a Record Date and on or prior to the corresponding Interest Payment Date, the Operating Partnership will pay the full amount of accrued and unpaid interest due interest, if any, on such Interest Payment Date to the Holder of record at the close of business on such the corresponding Record Date (instead of the Holder surrendering its Notes for redemption). Notwithstanding the foregoing, if the Notes are redeemed on or after the Par Call Date, the Redemption Price will be equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest thereon to, but not including, the applicable Redemption Date, subject to the foregoing proviso. In connection with any redemption prior to the Par Call Date, the Operating Partnership shall give the Trustee written notice of the related Redemption Price promptly after the calculation thereof and the Trustee shall not be responsible for such calculation.
(2) The Operating Partnership shall not redeem the Notes pursuant to Section 1.4(d)(1) hereof on any date if the principal amount of the Notes has been accelerated, and such an acceleration has not been rescinded or annulled on or prior to such datedate (except in the case of an acceleration resulting from a default by the Operating Partnership in the payment of the Redemption Price with respect to the Notes to be redeemed).
Appears in 2 contracts
Sources: Supplemental Indenture (Brixmor Operating Partnership LP), Tenth Supplemental Indenture (Brixmor Operating Partnership LP)
Redemption at the Option of the Operating Partnership. (1) Prior to the Par Call Date, the The Operating Partnership may shall have the right to redeem the Notes at its optionoption and in its sole discretion, at any time or from time to time prior to the Par Call Date in whole or in part, at any time and from time to time, at a the Redemption Price specified in the next sentence. The redemption price (expressed as a percentage “Redemption Price”) will equal the greater of (i) 100% of the principal amount and rounded of the Notes to three decimal placesbe redeemed or (ii) equal to as determined by the greater of: (i)
(a) Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to on the Redemption Date (assuming the Notes being redeemed that would be due if such Notes matured on the Par Call Date but for the redemption thereof (not including any portion of such payments of interest accrued as of the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate plus 20 40 basis points (0.2000.400%) less (b) accrued and unpaid interest to, but not including, the Redemption Date, and (ii) 100% of the principal amount of the Notes being redeemed), plus, in either each case, accrued and unpaid interest thereon to, but not including, the Redemption Date. On However, if the Notes are redeemed on or after the Par Call Date, the Operating Partnership may redeem the Notes, in whole or in part, at any time and from time to time, at a Redemption Price will be equal to 100% of the principal amount of the Notes being to be redeemed, plus plus, in each case, accrued and unpaid interest thereon to, but not including, the Redemption Date. Notwithstanding the foregoing, if the Redemption Date falls after a Record Date and on or prior to the corresponding Interest Payment Date, the Operating Partnership will pay the full amount of accrued and unpaid interest due on such Interest Payment Date to the Holder of record at the close of business on such Record Date. In connection with any redemption prior to the Par Call Date, the Operating Partnership shall give the Trustee written notice of the related Redemption Price promptly after the calculation thereof and the Trustee shall not be responsible for such calculation.
(2) The Operating Partnership shall not redeem the Notes pursuant to Section 1.4(d)(1) hereof on any date if the principal amount of the Notes has been accelerated, and such an acceleration has not been rescinded or annulled on or prior to such date.
Appears in 1 contract
Sources: First Supplemental Indenture (Kite Realty Group, L.P.)
Redemption at the Option of the Operating Partnership. (1) Prior to the Par Call Date, the The Operating Partnership may shall have the right to redeem the Notes at its option, option and in its sole discretion at any time or from time to time prior to the Par Call Date in whole or in part, part at any time and from time to time, at a the Redemption Price specified in the next sentence. The redemption price (expressed as a percentage “Redemption Price”) will equal the greater of (i) 100% of the principal amount of the Notes to be redeemed and rounded to three decimal places(ii) equal to as determined by the greater of: (i)
(a) Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted on the Notes to the Redemption Date (assuming the be redeemed that would be due if such Notes matured on the Par Call Date but for the redemption thereof (not including any portion of such payments of interest accrued as of the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate plus 20 50 basis points (0.2000.500%) less (b) accrued and unpaid interest to, but not including, the Redemption Date, and (ii) 100% of the principal amount of the Notes being redeemed), plus, in either each case, accrued and unpaid interest thereon to, but not including, to the Redemption Date. On or after the Par Call Date; provided, the Operating Partnership may redeem the Noteshowever, in whole or in part, at any time and from time to time, at a Redemption Price equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest thereon to, but not including, the Redemption Date. Notwithstanding the foregoing, that if the Redemption Date falls after a Record Date and on or prior to the corresponding Interest Payment Date, the Operating Partnership will pay the full amount of accrued and unpaid interest due interest, if any, on such Interest Payment Date to the Holder of record at the close of business on such the corresponding Record Date (instead of the Holder surrendering its Notes for redemption). Notwithstanding the foregoing, if the Notes are redeemed on or after the Par Call Date, the Redemption Price will be equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest thereon to, but not including, the applicable Redemption Date, subject to the foregoing proviso. In connection with any redemption prior to the Par Call Date, the Operating Partnership shall give the Trustee written notice of the related Redemption Price promptly after the calculation thereof and the Trustee shall not be responsible for such calculation.
(2) The Operating Partnership shall not redeem the Notes pursuant to Section 1.4(d)(1) hereof on any date if the principal amount of the Notes has been accelerated, and such an acceleration has not been rescinded or annulled on or prior to such datedate (except in the case of an acceleration resulting from a default by the Operating Partnership in the payment of the Redemption Price with respect to the Notes to be redeemed).
Appears in 1 contract
Sources: Ninth Supplemental Indenture (Brixmor Operating Partnership LP)
Redemption at the Option of the Operating Partnership. (1) Prior to April 15, 2034 (three months prior to their maturity date) (the “Par Call Date”), the Operating Partnership may redeem the Notes at its option, in whole or in part, at any time and from time to time, at a Redemption Price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of: (i):
(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption Date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 25 basis points (0.200%) less (b) interest accrued and unpaid interest to, but not including, to the Redemption Date, and and
(ii2) 100% of the principal amount of the Notes being to be redeemed, plus, in either case, accrued and unpaid interest thereon to, but not including, to the Redemption Date. On or after the Par Call Date, the Operating Partnership may redeem the Notes, in whole or in part, at any time and from time to time, at a Redemption Price equal to 100% of the principal amount of the Notes being redeemed, redeemed plus accrued and unpaid interest thereon to, but not including, to the Redemption Date. Notwithstanding The Operating Partnership’s actions and determinations in determining the foregoingRedemption Price shall be conclusive and binding for all purposes, if absent manifest error. Notice of any redemption will be mailed or electronically delivered (or otherwise transmitted in accordance with the Depositary’s procedures) at least 10 days but not more than 60 days before the Redemption Date falls after to each Holder of Notes to be redeemed (with a Record Date and on or prior copy to the corresponding Interest Payment DateTrustee). In the case of a partial redemption, selection of the Notes for redemption will be made pro rata, by lot or by such other method as the Trustee in its sole discretion deems appropriate and fair. No Notes of a principal amount of $2,000 or less will be redeemed in part. If any Note is to be redeemed in part only, the notice of redemption that relates to the Note will state the portion of the principal amount of the Note to be redeemed. A new Note in a principal amount equal to the unredeemed portion of the Note will be issued in the name of the Holder of the Note upon surrender for cancellation of the original Note. For so long as the Notes are held by The Depository Trust Company (or another Depositary), the redemption of the Notes shall be done in accordance with the policies and procedures of the Depositary. Unless the Operating Partnership will pay defaults in payment of the full amount of accrued Redemption Price, on and unpaid interest due on such Interest Payment Date to after the Holder of record at the close of business on such Record Date. In connection with any redemption prior to the Par Call Redemption Date, interest will cease to accrue on the Operating Partnership shall give the Trustee written notice of the related Redemption Price promptly after the calculation Notes or portions thereof and the Trustee shall not be responsible called for such calculation.
(2) redemption. The Operating Partnership shall not redeem the Notes pursuant to this Section 1.4(d)(11.4(d) hereof on any date if the principal amount of the Notes has been accelerated, and such an acceleration has not been rescinded or annulled on or prior to such datedate (except in the case of an acceleration resulting from a default by the Operating Partnership in the payment of the Redemption Price with respect to the Notes to be redeemed).
Appears in 1 contract
Sources: Eighth Supplemental Indenture (American Homes 4 Rent, L.P.)
Redemption at the Option of the Operating Partnership. (1) Prior to the Par Call Date, the The Operating Partnership may shall have the right to redeem the Notes at its option, option and in its sole discretion at any time or from time to time prior to the Par Call Date in whole or in part, part at any time and from time to time, at a the Redemption Price specified in the next sentence. The redemption price (expressed as a percentage “Redemption Price”) will equal the greater of (i) 100% of the principal amount of the Notes to be redeemed and rounded to three decimal places(ii) equal to as determined by the greater of: (i)
(a) Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted on the Notes to the Redemption Date (assuming the be redeemed that would be due if such Notes matured on the Par Call Date but for the redemption thereof (not including any portion of such payments of interest accrued as of the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate plus 20 30 basis points (0.2000.30%) less (b) accrued and unpaid interest to, but not including, the Redemption Date, and (ii) 100% of the principal amount of the Notes being redeemed), plus, in either each case, accrued and unpaid interest thereon to, but not including, to the Redemption Date. On or after the Par Call Date; provided, the Operating Partnership may redeem the Noteshowever, in whole or in part, at any time and from time to time, at a Redemption Price equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest thereon to, but not including, the Redemption Date. Notwithstanding the foregoing, that if the Redemption Date falls after a Record Date and on or prior to the corresponding Interest Payment Date, the Operating Partnership will pay the full amount of accrued and unpaid interest due interest, if any, on such Interest Payment Date to the Holder of record at the close of business on such the corresponding Record Date (instead of the Holder surrendering its Notes for redemption). Notwithstanding the foregoing, if the Notes are redeemed on or after the Par Call Date, the Redemption Price will be equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest thereon to, but not including, the applicable Redemption Date, subject to the foregoing proviso. In connection with any redemption prior to the Par Call Date, the Operating Partnership shall give the Trustee written notice of the related Redemption Price promptly after the calculation thereof and the Trustee shall not be responsible for such calculation.
(2) The Operating Partnership shall not redeem the Notes pursuant to Section 1.4(d)(1) hereof on any date if the principal amount of the Notes has been accelerated, and such an acceleration has not been rescinded or annulled on or prior to such datedate (except in the case of an acceleration resulting from a default by the Operating Partnership in the payment of the Redemption Price with respect to the Notes to be redeemed).
Appears in 1 contract
Sources: First Supplemental Indenture (Brixmor Operating Partnership LP)
Redemption at the Option of the Operating Partnership. (1) Prior to December 15, 2034 (three months prior to their maturity date) (the “Par Call Date”), the Operating Partnership may redeem the Notes at its option, in whole or in part, at any time and from time to time, at a Redemption Price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of: (i):
(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption Date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points (0.200%) less (b) interest accrued and unpaid interest to, but not including, to the Redemption Date, and and
(ii2) 100% of the principal amount of the Notes being to be redeemed, plus, in either case, accrued and unpaid interest thereon to, but not including, to the Redemption Date. On or after the Par Call Date, the Operating Partnership may redeem the Notes, in whole or in part, at any time and from time to time, at a Redemption Price equal to 100% of the principal amount of the Notes being redeemed, redeemed plus accrued and unpaid interest thereon to, but not including, to the Redemption Date. Notwithstanding The Operating Partnership’s actions and determinations in determining the foregoingRedemption Price shall be conclusive and binding for all purposes, if absent manifest error. Notice of any redemption will be mailed or electronically delivered (or otherwise transmitted in accordance with the Depositary’s procedures) at least 10 days but not more than 60 days before the Redemption Date falls after to each Holder of Notes to be redeemed (with a Record Date and on or prior copy to the corresponding Interest Payment DateTrustee). In the case of a partial redemption, selection of the Notes for redemption will be made pro rata, by lot or by such other method as the Trustee in its sole discretion deems appropriate and fair. No Notes of a principal amount of $2,000 or less will be redeemed in part. If any Note is to be redeemed in part only, the notice of redemption that relates to the Note will state the portion of the principal amount of the Note to be redeemed. A new Note in a principal amount equal to the unredeemed portion of the Note will be issued in the name of the Holder of the Note upon surrender for cancellation of the original Note. For so long as the Notes are held by The Depository Trust Company (or another Depositary), the redemption of the Notes shall be done in accordance with the policies and procedures of the Depositary. Unless the Operating Partnership will pay defaults in payment of the full amount of accrued Redemption Price, on and unpaid interest due on such Interest Payment Date to after the Holder of record at the close of business on such Record Date. In connection with any redemption prior to the Par Call Redemption Date, interest will cease to accrue on the Operating Partnership shall give the Trustee written notice of the related Redemption Price promptly after the calculation Notes or portions thereof and the Trustee shall not be responsible called for such calculation.
(2) redemption. The Operating Partnership shall not redeem the Notes pursuant to this Section 1.4(d)(11.4(d) hereof on any date if the principal amount of the Notes has been accelerated, and such an acceleration has not been rescinded or annulled on or prior to such datedate (except in the case of an acceleration resulting from a default by the Operating Partnership in the payment of the Redemption Price with respect to the Notes to be redeemed).
Appears in 1 contract
Sources: Ninth Supplemental Indenture (American Homes 4 Rent, L.P.)
Redemption at the Option of the Operating Partnership. (1) Prior to the Par Call Date, the Operating Partnership may redeem the Notes at its option, in whole or in part, at any time and from time to time, at a Redemption Price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of: (i)
(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption Date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 30 basis points (0.2000.300%) less (b) interest accrued and unpaid interest to, but not including, the Redemption Date, and (ii) 100% of the principal amount of the Notes being redeemed, plus, in either case, accrued and unpaid interest thereon to, but not including, the Redemption Date. On or after the Par Call Date, the Operating Partnership may redeem the Notes, in whole or in part, at any time and from time to time, at a Redemption Price equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest thereon to, but not including, the Redemption Date. Notwithstanding the foregoing, if the Redemption Date falls after a Record Date and on or prior to the corresponding Interest Payment Date, the Operating Partnership will pay the full amount of accrued and unpaid interest due on such Interest Payment Date to the Holder of record at the close of business on such Record Date. In connection with any redemption prior to the Par Call Date, the Operating Partnership shall give the Trustee written notice of the related Redemption Price promptly after the calculation thereof and the Trustee shall not be responsible for such calculation.
(2) The Operating Partnership shall not redeem the Notes pursuant to Section 1.4(d)(1) hereof on any date if the principal amount of the Notes has been accelerated, and such an acceleration has not been rescinded or annulled on or prior to such date.
Appears in 1 contract
Sources: Second Supplemental Indenture (Kite Realty Group Trust)
Redemption at the Option of the Operating Partnership. (1) Prior to November 1, 2033 (three months prior to their maturity date) (the “Par Call Date”), the Operating Partnership may redeem the Notes at its option, in whole or in part, at any time and from time to time, at a Redemption Price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of: (i):
(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption Date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 25 basis points (0.200%) less (b) interest accrued and unpaid interest to, but not including, to the Redemption Date, and and
(ii2) 100% of the principal amount of the Notes being to be redeemed, plus, in either case, accrued and unpaid interest thereon to, but not including, to the Redemption Date. On or after the Par Call Date, the Operating Partnership may redeem the Notes, in whole or in part, at any time and from time to time, at a Redemption Price equal to 100% of the principal amount of the Notes being redeemed, redeemed plus accrued and unpaid interest thereon to, but not including, to the Redemption Date. Notwithstanding The Operating Partnership’s actions and determinations in determining the foregoingRedemption Price shall be conclusive and binding for all purposes, if absent manifest error. Notice of any redemption will be mailed or electronically delivered (or otherwise transmitted in accordance with the Depositary’s procedures) at least 10 days but not more than 60 days before the Redemption Date falls after to each Holder of Notes to be redeemed (with a Record Date and on or prior copy to the corresponding Interest Payment DateTrustee). In the case of a partial redemption, selection of the Notes for redemption will be made pro rata, by lot or by such other method as the Trustee in its sole discretion deems appropriate and fair. No Notes of a principal amount of $2,000 or less will be redeemed in part. If any Note is to be redeemed in part only, the notice of redemption that relates to the Note will state the portion of the principal amount of the Note to be redeemed. A new Note in a principal amount equal to the unredeemed portion of the Note will be issued in the name of the Holder of the Note upon surrender for cancellation of the original Note. For so long as the Notes are held by The Depository Trust Company (or another Depositary), the redemption of the Notes shall be done in accordance with the policies and procedures of the Depositary. Unless the Operating Partnership will pay defaults in payment of the full amount of accrued Redemption Price, on and unpaid interest due on such Interest Payment Date to after the Holder of record at the close of business on such Record Date. In connection with any redemption prior to the Par Call Redemption Date, interest will cease to accrue on the Operating Partnership shall give the Trustee written notice of the related Redemption Price promptly after the calculation Notes or portions thereof and the Trustee shall not be responsible called for such calculation.
(2) redemption. The Operating Partnership shall not redeem the Notes pursuant to this Section 1.4(d)(11.4(d) hereof on any date if the principal amount of the Notes has been accelerated, and such an acceleration has not been rescinded or annulled on or prior to such datedate (except in the case of an acceleration resulting from a default by the Operating Partnership in the payment of the Redemption Price with respect to the Notes to be redeemed).
Appears in 1 contract
Sources: Seventh Supplemental Indenture (American Homes 4 Rent, L.P.)
Redemption at the Option of the Operating Partnership. (1) Prior to May 15, 2030 (one month prior to their maturity date) (the “Par Call Date”), the Operating Partnership may redeem the Notes at its option, in whole or in part, at any time and from time to time, at a Redemption Price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of: (i):
(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption Date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points (0.200%) less (b) interest accrued and unpaid interest to, but not including, to the Redemption Date, and and
(ii2) 100% of the principal amount of the Notes being to be redeemed, plus, in either case, accrued and unpaid interest thereon to, but not including, to the Redemption Date. On or after the Par Call Date, the Operating Partnership may redeem the Notes, in whole or in part, at any time and from time to time, at a Redemption Price equal to 100% of the principal amount of the Notes being redeemed, redeemed plus accrued and unpaid interest thereon to, but not including, to the Redemption Date. Notwithstanding The Operating Partnership’s actions and determinations in determining the foregoingRedemption Price shall be conclusive and binding for all purposes, if absent manifest error. Notice of any redemption will be mailed or electronically delivered (or otherwise transmitted in accordance with the Depositary’s procedures) at least 10 days but not more than 60 days before the Redemption Date falls after to each Holder of Notes to be redeemed (with a Record Date and on or prior copy to the corresponding Interest Payment DateTrustee). In the case of a partial redemption, selection of the Notes for redemption will be made pro rata, by lot or by such other method as the Trustee in its sole discretion deems appropriate and fair. No Notes of a principal amount of $2,000 or less will be redeemed in part. If any Note is to be redeemed in part only, the notice of redemption that relates to the Note will state the portion of the principal amount of the Note to be redeemed. A new Note in a principal amount equal to the unredeemed portion of the Note will be issued in the name of the Holder of the Note upon surrender for cancellation of the original Note. For so long as the Notes are held by The Depository Trust Company (or another Depositary), the redemption of the Notes shall be done in accordance with the policies and procedures of the Depositary. Unless the Operating Partnership will pay defaults in payment of the full amount of accrued Redemption Price, on and unpaid interest due on such Interest Payment Date to after the Holder of record at the close of business on such Record Date. In connection with any redemption prior to the Par Call Redemption Date, interest will cease to accrue on the Operating Partnership shall give the Trustee written notice of the related Redemption Price promptly after the calculation Notes or portions thereof and the Trustee shall not be responsible called for such calculation.
(2) redemption. The Operating Partnership shall not redeem the Notes pursuant to this Section 1.4(d)(11.4(d) hereof on any date if the principal amount of the Notes has been accelerated, and such an acceleration has not been rescinded or annulled on or prior to such datedate (except in the case of an acceleration resulting from a default by the Operating Partnership in the payment of the Redemption Price with respect to the Notes to be redeemed).
Appears in 1 contract
Sources: Tenth Supplemental Indenture (American Homes 4 Rent, L.P.)