Selection for Redemption Clause Samples
The Selection for Redemption clause outlines the process by which certain securities or shares are chosen to be redeemed by the issuer before their maturity or a specified date. Typically, this clause details the criteria or methods used for selection, such as random drawing, pro rata allocation, or another fair and impartial method, and may specify whether all or only a portion of the outstanding securities are subject to redemption. Its core practical function is to ensure transparency and fairness in the redemption process, preventing arbitrary or discriminatory selection and providing clarity to holders about how and when their securities might be redeemed.
Selection for Redemption. In accordance with Section 3.02 of the Indenture, if fewer than all of the Notes are to be redeemed at any time, the Registrar will select the Notes, or portions thereof, to be redeemed, in compliance with the requirements of the Depository, or if the Depository prescribes no method of selection, on a pro rata basis, by lot or by any other method the Registrar deems fair and reasonable; provided, however, that Notes, and portions thereof, selected for redemption shall only be in amounts of $25.00 or whole multiples of $25.00.
Selection for Redemption. With respect to each Series of Certificates, if the Bonds of any Maturity are redeemed in part prior to maturity, the Trustee shall redeem Floater Certificates (and, if Proportionality shall have been adopted in the related Series Trust Agreement, Related Residual Certificates) in Authorized Denominations that would result, as nearly as possible, in Floater Certificates (and, if applicable, Related Residual Certificates) being redeemed in a Stated Amount that bears the same proportion to the Related Stated Amount of such Maturity as the principal amount of such Maturity being redeemed bears to the principal amount of such Maturity prior to such redemption. The Trustee shall Select by Lot the Floater Certificates (and, if applicable, Related Residual Certificates) to be so redeemed. The balance of redemption proceeds remaining shall be paid into the Odd-Lot Subaccount pursuant to Section 11.8. Notwithstanding any other provision in this Master Terms of Trust Agreement, Floater Certificates (and, if applicable, Related Residual Certificates) shall be redeemed only in Authorized Denominations and, so long as DTC is the Securities Depository, redeemed in accordance with applicable DTC procedures.
Selection for Redemption. In the event that less than all of the Series 2024 Bonds shall be redeemed, the Series 2024 Bonds will be selected in inverse order of maturity or sinking fund installment. If less than all of the Series 2024 Bonds of a maturity shall be redeemed, the Series 2024 Bonds or portions thereof to be redeemed shall be selected by the Trustee by lot or by such other method as the Trustee shall deem fair and equitable. In the event of an [optional] redemption of a portion of the Series 2024 Bonds maturing on a particular date, the redemption price shall be credited to such sinking fund installments in inverse order of maturity.
Selection for Redemption. If fewer than all of the Notes are to be redeemed at any time, the Registrar will select the Notes, or portions thereof, to be redeemed, in compliance with the requirements of DTC, or if DTC prescribes no method of selection, on a pro rata basis, by lot or by any other method the Registrar deems fair and reasonable; provided, however, that Notes, and portions thereof, selected for redemption shall only be in amounts of $25.00 or integral multiples of $25.00.
Selection for Redemption. If less than all of the Series 2019 Bonds of a series are called for redemption, the City and County will designate the maturities from which the Series 2019 Bonds of such series are to be redeemed. For so long as the Series 2019 Bonds are registered in book•entry form and DTC or a successor securities depository is the sole registered owner of such Series 2019 Bonds, if fewer than all of the Series 2019 Bonds of the same maturity and bearing the same interest rate are to be redeemed, the particular Series 2019 Bonds to be redeemed shall be selected: (i) by lot, in the case of the Senior Series 2019A Bonds, the Senior Series 2019B Bonds, the Junior Series 2019A Bonds or the Junior Series 2019B Bonds, and (ii) on a pro rata pass-through distribution of principal basis in accordance with DTC procedures, in the case of the Senior Series 2019C Bonds; provided that, so long as the Series 2019 Bonds are held in book-entry form, the selection for redemption of the Senior Series 2019C Bonds will be made in accordance with the
Selection for Redemption. If less than all of the outstanding Series 12 Debentures are to be redeemed at any one time, the Bank shall in each such case, at least 15 days before the date upon which the notice of redemption is to be given, notify the Trustee in writing of its intention to redeem such Series 12 Debentures and of the aggregate principal amount of Series 12 Debentures so to be redeemed. The Series 12 Debentures so to be redeemed shall be selected by lot by the Trustee in such manner as the Trustee may deem equitable. For this purpose, the Trustee may make, and from time to time amend, regulations with regard to the manner in which such Series 12 Debentures may be so selected and regulations so made shall be valid and binding upon all holders notwithstanding, the fact that, as a result thereof, one or more of such Series 12 Debentures become subject to redemption in part only.
Selection for Redemption. If less than all the outstanding Debentures of any one series are to be redeemed at any one time, the Trustee or the Registrar shall select the Debentures to be redeemed by lot in such manner (which may include random selection by electronic computer) as the Trustee or the Registrar shall deem equitable.
Selection for Redemption. In case less than all of the Notes are to be redeemed, the Company shall in each such case, at least twenty-one days before the date upon which the notice of redemption is to be given, notify the Trustee and the Principal Paying Agent in writing of its intention to redeem Notes and of the aggregate principal amount of Notes so to be redeemed. Subject to Section 4.13, the Notes so to be redeemed shall be selected by the Trustee, or, if so requested by the Company and approved by the Trustee, by the Principal Paying Agent, by lot in such manner as the Trustee shall deem equitable. For this purpose, the Trustee may make regulations with regard to the manner in which such Notes may be so selected, and regulations so made shall be valid and binding upon all holders of Notes.
Selection for Redemption. If less than all the Series 10 Debentures are to be redeemed at any one time, the Trustee shall select the Series 10 Debentures to be redeemed by lot in such manner (which may include random selection by electronic computer) as the Trustee shall deem equitable.
Selection for Redemption. If less than all of the outstanding Debentures of any one series are to be redeemed at any one time, then the Trustee shall select the Debentures to be redeemed by lot or on a pro rata basis or in such manner as the Trustee shall deem equitable.