Bonds Redeemed in Part Sample Clauses
The "Bonds Redeemed in Part" clause defines the process and rules for redeeming only a portion of the outstanding bonds before their maturity date. Typically, this clause outlines how the issuer will select which bonds are to be redeemed, such as by random drawing or pro rata allocation, and details how partial redemptions affect the remaining bonds, including adjustments to interest payments or principal amounts. Its core practical function is to provide a clear and fair mechanism for partial redemptions, ensuring transparency and predictability for both the issuer and bondholders.
Bonds Redeemed in Part. Upon the surrender of any Bond which is to be redeemed only in part at a Place of Payment therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Bond, without service charge, a new Bond or Bonds of the same series and Tranche, of any authorized denomination requested by such Holder and of like tenor and in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Bond so surrendered.
Bonds Redeemed in Part. Subject to ARTICLE VI, upon surrender of a Bond redeemed in part, the Trustee will authenticate for the holder a new Bond or Bonds in authorized denominations equal in principal amount to the unredeemed portion of the Bond surrendered.
Bonds Redeemed in Part. Any Bond which is to be redeemed only in part may be surrendered at the Corporate Trust Office (with, if the Owner Trustee or Indenture Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Owner Trustee and the Indenture Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), and the Lessee shall cause to be prepared, the Owner Trustee shall execute, and the Indenture Trustee shall authenticate and deliver to the Holder of such Bond, without service charge, a new Bond or Bonds of the same series, in any authorized denomination requested by such Holder and in an aggregate unpaid principal amount equal to and in exchange for the unredeemed portion of the principal of the Bond so surrendered."
(g) Article Six is deleted and the following inserted in lieu thereof: "ARTICLE SIX
Bonds Redeemed in Part. Upon surrender of a Bond that is redeemed in part, the Company shall execute and the Trustee shall authenticate for the Holder a new Bond equal in Principal to the unredeemed portion of the Principal of the Bond surrendered.
Bonds Redeemed in Part. If any Bond is to be redeemed only in part, the Issuer shall execute, and the Indenture Trustee shall authenticate and deliver to the Holder of such Bond without service charge, a new Bond or Bonds of the same Series and of like tenor, of any authorized denomination as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Bond so surrendered. If a Book-Entry Bond is so surrendered, such new Bond so issued shall be a new Book-Entry Bond.
Bonds Redeemed in Part. Any Bond which is to be redeemed only in part shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Bond, without service charge, a new Bond or Bonds of the same series and Tranche, of any authorized denomination requested by such Holder and of like tenor and in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Bond so surrendered; provided, however, that the payment of any principal in accordance with the scheduled amortization payments specified for the Bonds of any series, or any Tranche thereof as contemplated by Section 3.01, shall not constitute a redemption in part subject to this Section 5.06 (except as otherwise specified as contemplated by Section 3.01 for Bonds of such series or Tranche).
Bonds Redeemed in Part. Upon surrender of any Bond redeemed in part only, the City shall execute and the Fiscal Agent shall authenticate and deliver to the Owner thereof, at the expense of the City, a new Bond or Bonds of authorized denominations, and of the same maturity, equal in aggregate principal amount to the unredeemed portion of the Bond surrendered.
Bonds Redeemed in Part. (a) For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Bonds shall relate, in the case of any Bonds redeemed or to be redeemed only in part, to the portion of the principal amount of such Bonds that has or is to be redeemed.
(b) Any Bond that is to be redeemed only in part shall be surrendered at the place of payment therefor (with, if the Issuer or the Bond Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Issuer and the Bond Trustee duly executed by the Holder thereof or its attorney duly authorized in writing) and, upon such surrender, the Issuer shall execute, and the Bond Trustee shall authenticate and make available for delivery to the Holder of such Bond (at the expense of the Issuer but without any further action on the part of the Issuer), a new Bond of the same Series, of any authorized denomination requested by such Holder and of like tenor and in aggregate principal amount equal to and in exchange for the remaining unpaid principal amount of the surrendered Bond.
(c) Upon any partial redemption of Bonds of any Series in accordance with this Article 3, the scheduled principal amortization of the Bonds of such Series as set forth on Schedule I shall be reduced by an amount equal to the product of the scheduled principal amortization of the Bonds of such Series then in effect and a fraction, the numerator of which is equal to the principal amount of the Outstanding Bonds of such Series to be redeemed and the denominator of which is the principal amount of the Outstanding Bonds of such Series immediately prior to such redemption. In connection with any such partial redemption, the Issuer shall furnish the Bond Trustee, prior to such redemption, with an Officer's Certificate setting forth the amortization schedule for the remaining Bonds of such Series after giving effect to such redemption. Notwithstanding any other provision of this Indenture, if any Bond called for redemption shall not be paid upon surrender thereof for redemption, the principal of such Bond shall, until paid or provided for, bear interest from the date fixed for redemption at the interest rate specified in such Bond.
Bonds Redeemed in Part. Any Bond that is to be redeemed only in part shall be surrendered at an office or agency of the Company designated for that purpose pursuant to Section 11.02 (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Bond without service charge, a new Bond or Bonds, of any authorized denomination as requested by such Holder, in aggregate Initial Principal Amount equal to and in exchange for the Initial Principal Amount of the Bond so surrendered.
Bonds Redeemed in Part. Any Bond which is to be redeemed only in part shall be surrendered at the principal corporate trust office of the Trustee, and the Issuer shall execute and the Trustee shall authenticate and deliver to the Holder of such Bond, without service charge, a new Bond or Bonds of any authorized denomination or denominations as requested by such Holder in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Bond so surrendered.