Obligations Redeemed in Part Sample Clauses

Obligations Redeemed in Part. Unless otherwise provided in any Supplemental Indenture, any Obligation 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 its attorney duly authorized in writing) and the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Obligation, without service charge, a new Obligation or Obligations of the same series and maturity 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 Obligation so surrendered. In lieu of surrender under the preceding paragraph, payment of the Redemption Price of a portion of any Obligation held in the Book-Entry System may be made directly to the Holder thereof without surrender thereof, if there shall have been filed with the Trustee either (1) a written agreement between the Company and such Holder and, if such Holder is a nominee, the Person for whom such Holder is a nominee, that payment shall be so made and that such Holder will not sell, transfer or otherwise dispose of such Obligation unless prior to delivery thereof such Holder shall present such Obligation to the Trustee for notation thereon of the portion of the principal thereof redeemed or shall surrender such Obligation in exchange for a new Obligation or Obligations for the unredeemed balance of the principal of the surrendered Obligation or (2) a certificate of the Company that such an agreement has been entered into and remains in force.
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
Obligations Redeemed in Part. Any Obligation which is to be redeemed only in part shall be surrendered at a Place of Payment (with, if the Issuer or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Service Reserve Fund Participant Account. The Second Lien Debt Service Reserve Fund Participant Account shall constitute funds for the benefit of Owners of the Second Lien Obligations that are Second Lien Debt Service Reserve Fund Participants. The balance of the Second Lien Debt Service Reserve Fund Participant Account (other than the interest income thereon, which may be transferred, to the extent herein provided, to the Second Lien Debt Service Fund or such other funds as may be permitted under federal tax law) is hereby pledged to the payment of the Second Lien Obligations that are Second Lien Debt Service Reserve Fund Participants. The Issuer reserves the right to issue Second Lien Obligations that are not Debt Service Reserve Fund Participants and that are not secured by the Second Lien Debt Service Reserve Fund Participant Account; and the Issuer may, but is not obligated to, create one or more separate accounts within the Second Lien Debt Service Reserve Fund for the benefit of any Series of Second Lien Obligations that is not a Debt Service Reserve Fund Participant, the balance of which account (other than the interest income thereon, which may be transferred, to the extent herein provided, to the Second Lien Debt Service Fund or such other funds as may be permitted under federal tax law) is hereby pledged to the payment of such Series of Second Lien Obligations that is not a Second Lien Debt Service Reserve Fund Participant.
Sample 1

Related to Obligations Redeemed in Part

  • Securities Redeemed in Part Any Security 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 Security without service charge, a new Security or Securities 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 Security so surrendered.

  • Selection by Trustee of Securities to Be Redeemed If less than all the Securities of any series issued on the same day with the same terms are to be redeemed, the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series issued on such date with the same terms not previously called for redemption, by such method as the Trustee shall deem fair and appropriate and which may provide for the selection for redemption of portions (equal to the minimum authorized denomination for Securities of that series or any integral multiple thereof) of the principal amount of Securities of such series of a denomination larger than the minimum authorized denomination for Securities of that series. The Trustee shall promptly notify the Company and the Security Registrar (if other than itself) in writing of the Securities selected for redemption and, in the case of any Securities selected for partial redemption, the principal amount thereof to be redeemed. For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the case of any Security redeemed or to be redeemed only in part, to the portion of the principal amount of such Security which has been or is to be redeemed.

Time is Money Join Law Insider Premium to draft better contracts faster.