Common use of Mandatory Redemption upon Termination of Lease Agreement Clause in Contracts

Mandatory Redemption upon Termination of Lease Agreement. The Company shall, upon the occurrence of any event of termination described in Section 20(a)(ii) through 20(a)(x), inclusive, of the Lease Agreement, redeem or shall cause the Registrar to redeem the entire outstanding principal amount of the Notes without premium on the Termination Settlement Date. In the event of a purchase of Nuclear Fuel by the Lessee pursuant to Section 10(b) of the Lease Agreement, the Company shall redeem or shall cause the Registrar to redeem without premium only that portion of the principal amount of the Notes at the time outstanding which bears the same relationship to the aggregate principal amount of all Notes at the time outstanding as the SLV of the Nuclear Fuel purchased bears to the SLV of all Nuclear Fuel. Upon any partial redemption of the Notes, each Noteholder shall, if so requested by the Company or the Registrar, surrender to the Registrar all Notes held by such Noteholder in exchange for a new Note or Notes in an aggregate principal amount equal to the outstanding principal amount of the surrendered Note or Notes, less the amount of such partial redemption. Except as provided in this Section 6.1 or in Section 6.2 hereof, neither the Company nor the Registrar may redeem the Notes, in whole or in part, prior to the stated maturity thereof.

Mandatory Redemption upon Termination of Lease Agreement. The Company Trust shall, upon the occurrence of any event "Event of termination Termination" described in Section 20(a)(ii) through 20(a)(x), inclusive, 20 (a)(x) of the Lease Agreement, redeem or shall cause the Registrar to redeem the entire outstanding principal amount of the Notes without premium on the Termination Settlement Date. In the event of a purchase of Nuclear Fuel by the Lessee pursuant to Section 10(b10(f) of the Lease Agreement, the Company Trust shall redeem or shall cause the Registrar to redeem without premium only that portion of the principal amount of the Notes at the time outstanding which bears the same relationship to the aggregate principal amount of all IT Notes at the time outstanding as the SLV of the Nuclear Fuel purchased affected by such partial termination bears to the SLV of all Nuclear Fuel. Upon any partial redemption of the Notes, each Noteholder shall, if so requested by the Company Trust or the Registrar, surrender to the Registrar all Notes held by such Noteholder in exchange for a new Note or Notes in an aggregate principal amount equal to the outstanding principal amount of the surrendered Note or Notes, less the amount of such partial redemption. Except as provided in this Section 6.1 or in Section 6.2 hereof, neither the Company Trust nor the Registrar may redeem the Notes, in whole or in part, prior to the stated maturity thereof.

Mandatory Redemption upon Termination of Lease Agreement. The Company Trust shall, upon the occurrence of any event of termination described in Section 20(a)(ii) through 20(a)(x), inclusive, 20 (a)(x) of the Lease Agreement, redeem or shall cause the Registrar to redeem the entire outstanding principal amount of the Notes without premium on the Termination Settlement Date. In the event of a purchase of Nuclear Fuel by the Lessee pursuant to Section 10(b10(f) of the Lease Agreement, the Company Trust shall redeem or shall cause the Registrar to redeem without premium only that portion of the principal amount of the Notes at the time outstanding which bears the same relationship to the aggregate principal amount of all IT Notes at the time outstanding as the SLV of the Nuclear Fuel purchased affected by such partial termination bears to the SLV of all Nuclear Fuel. Upon any partial redemption of the Notes, each Noteholder shall, if so requested by the Company Trust or the Registrar, surrender to the Registrar all Notes held by such Noteholder in exchange for a new Note or Notes in an aggregate principal amount equal to the outstanding principal amount of the surrendered Note or Notes, less the amount of such partial redemption. Except as provided in this Section 6.1 or in Section 6.2 hereof, neither the Company Trust nor the Registrar may redeem the Notes, in whole or in part, prior to the stated maturity thereof.