Common use of Optional Prepayment by Company Clause in Contracts

Optional Prepayment by Company. (a) Subject to the provisions of this Article XIV, the Company shall have the right to prepay the Securities, in whole or in part, from time to time, on or after February 1, 2007, at the optional prepayment price equal to the outstanding principal amount of the Securities to be prepaid, plus accrued and unpaid interest thereon (including Compounded Interest and Additional Interest, if any) and any Additional Sums to the applicable date of prepayment (the "Optional Prepayment Price"). If the Securities are only partially prepaid pursuant to this Section 14.02, the Securities to be prepaid will be chosen pro rata or by lot or by any other method utilized by the Trustee; provided, that, as to Securities registered as a Global Security at the time of prepayment, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities held by each beneficial owner of such Securities to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York City time, on the date of such prepayment or at such earlier time as the Company determines, provided, that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid. (b) Notwithstanding the first sentence of Section 14.02(a), upon the entry of an order for dissolution of Trenwick Capital Trust I by a court of competent jurisdiction, the Securities thereafter will be subject to optional prepayment, in whole only, but

Optional Prepayment by Company. (a) Subject to the provisions of this Section 3.2(b) and to the provisions of Article XIVFourteen of the Indenture, the Company shall have the right to prepay the SecuritiesNotes, in whole or in part, at any time and from time to time, on or after February 1April 15, 2007, at the optional prepayment a redemption price equal to the outstanding principal amount of the Securities to be prepaid, plus accrued and unpaid interest thereon (including Compounded Interest and Additional Interest, if any) and any Additional Sums to the applicable date of prepayment (the "Optional Prepayment Price"). Any prepayment pursuant to this paragraph will be made upon not less than 30 days nor more than 60 days notice to the Holder of the Notes, at the Optional Prepayment Price. If the Securities Notes are only partially prepaid pursuant to this Section 14.023.2, the Securities to Notes will be prepaid will be chosen pro rata or by lot or by any other method utilized by the Trustee; provided, that, as to Securities that if at the time of prepayment the Notes are registered as a Global Security at the time of prepaymentNote, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities Notes held by each beneficial owner Holder of such Securities Note to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York City time, on the date of such prepayment or at such earlier time as the Company determines, provided, determines provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid. (b) Notwithstanding If a partial prepayment of the first sentence Notes would result in the delisting of Section 14.02(a), upon the entry of an order for dissolution of Trenwick Capital Securities issued by the Trust I by a court of competent jurisdictionfrom any national securities exchange or other organization on which the Capital Securities are then listed, the Securities thereafter will Company shall not be subject permitted to optional prepayment, effect such partial prepayment and may only prepay the Notes in whole only, butwhole.

Optional Prepayment by Company. (a) Subject to the provisions of this Article XIV, the Company shall have the right to prepay the Securities, in whole or in part, from time to time, on or after February January 1, 2007, at the optional prepayment price equal to the outstanding principal amount of the Securities to be prepaid, plus accrued and unpaid interest thereon (including Additional Sums and Compounded Interest and Additional Interest, if any) and any Additional Sums to the applicable date of prepayment (the "Optional Prepayment Price"). If the Securities are only partially prepaid pursuant to this Section 14.02, the Securities to be prepaid will be chosen pro rata or by lot or by any other method utilized by the Trustee; provided, provided that, as to Securities registered as a Global Security at the time of prepayment, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities held by each beneficial owner holder of such Securities a Security to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York City time, on the date of such prepayment or at such earlier time as the Company determines, provided, provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid. (b) Notwithstanding the first sentence of Section 14.02(a), upon the entry of an order for dissolution of Trenwick Orion Capital Trust I by a court of competent jurisdiction, the Securities thereafter will be subject to optional prepayment, in whole only, butbut not in part, on or after January 1, 2007, at the optional prepayment price set forth in Section 14.02(a) and otherwise in accordance with this Article XIV.

Optional Prepayment by Company. (a) Subject to the provisions of this Section 3.2(b) and to the provisions of Article XIV14 of the Indenture, the Company shall have the right to prepay the SecuritiesNotes, in whole or in part, at any time and from time to time, on or after February 1December 15, 20072006, at the optional prepayment a redemption price equal to the outstanding principal amount of the Securities to be prepaid, plus accrued and unpaid interest thereon (including Compounded Interest and Additional Interest, if any) and any Additional Sums to the applicable date of prepayment (the "Optional Prepayment Price"). Any prepayment pursuant to this paragraph will be made upon not less than 30 days' nor more than 60 days' notice to the Holders of the Notes. If the Securities Notes are only partially prepaid pursuant to this Section 14.023.2, the Securities to Notes will be prepaid will be chosen pro rata or by lot or by any other method utilized by the Trustee; provided, that, as to Securities that if at the time of prepayment the Notes are registered as a Global Security at the time of prepaymentNote, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities Notes held by each beneficial owner Holder of such Securities a Note to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York City time, on the date of such prepayment or at such earlier time as the Company determines, provided, determines provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid. (b) Notwithstanding If a partial prepayment of the first sentence Notes would result in the delisting of Section 14.02(a), upon the entry of an order for dissolution of Trenwick Capital Securities issued by the Trust I by a court of competent jurisdictionfrom any national securities exchange or other organization on which the Capital Securities are then listed, the Securities thereafter will Company shall not be subject permitted to optional prepayment, effect such partial prepayment and may only prepay the Notes in whole only, butwhole.

Optional Prepayment by Company. (a) Subject to the provisions of this Section 3.2(b) and to the provisions of Article XIV14 of the Indenture, the Company shall have the right to prepay the SecuritiesNotes, in whole or in part, at any time and from time to time, on or after February 1[________, 2007____], at the optional prepayment a redemption price equal to the outstanding principal amount of the Securities to be prepaid, plus accrued and unpaid interest thereon (including Compounded Interest and Additional Interest, if any) and any Additional Sums to the applicable date of prepayment (the "Optional Prepayment Price"). Any prepayment pursuant to this paragraph will be made upon not less than 30 days' nor more than 60 days' notice to the Holders of the Notes. If the Securities Notes are only partially prepaid pursuant to this Section 14.023.2, the Securities to Notes will be prepaid will be chosen pro rata or by lot or by any other method utilized by the Trustee; --- ---- provided, that, as to Securities that if at the time of prepayment the Notes are registered as a Global Security at the time of prepayment-------- Note, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities Notes held by each beneficial owner Holder of such Securities a Note to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York City time, on the date of such prepayment or at such earlier time as the Company determines, provided, determines provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid. (b) Notwithstanding If a partial prepayment of the first sentence Notes would result in the delisting of Section 14.02(a), upon the entry of an order for dissolution of Trenwick Capital Securities issued by the Trust I by a court of competent jurisdictionfrom any national securities exchange or other organization on which the Capital Securities are then listed, the Securities thereafter will Company shall not be subject permitted to optional prepayment, effect such partial prepayment and may only prepay the Notes in whole only, butwhole.

Optional Prepayment by Company. (a) Subject to the provisions of this Section 3.2(b) and to the provisions of Article XIV14 of the Indenture, the Company shall have the right to prepay the SecuritiesNotes, in whole or in part, at any time and from time to time, on or after February 1[ , 2007], at the optional prepayment a redemption price equal to the outstanding principal amount of the Securities to be prepaid, plus accrued and unpaid interest thereon (including Compounded Interest and Additional Interest, if any) and any Additional Sums to the applicable date of prepayment (the "Optional Prepayment Price"). Any prepayment pursuant to this paragraph will be made upon not less than 30 days’ nor more than 60 days’ notice to the Holders of the Notes. If the Securities Notes are only partially prepaid pursuant to this Section 14.023.2, the Securities to Notes will be prepaid will be chosen pro rata or by lot or by any other method utilized by the Trustee; providedprovided that if, that, as to Securities registered as a Global Security at the time of prepayment, the Notes are registered as a Global Note, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities Notes held by each beneficial owner Holder of such Securities a Note to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York City time, on the date of such prepayment or at such earlier time as the Company determines, provided, determines provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid. (b) Notwithstanding If a partial prepayment of the first sentence Notes would result in the delisting of Section 14.02(a), upon the entry of an order for dissolution of Trenwick Capital Securities issued by the Trust I by a court of competent jurisdictionfrom any national securities exchange or other organization on which the Capital Securities are then listed, the Securities thereafter will Company shall not be subject permitted to optional prepayment, effect such partial prepayment and may only prepay the Notes in whole only, butwhole.

Optional Prepayment by Company. (a) Subject to the provisions of this Section 3.2(b) and to the provisions of Article XIV14 of the Indenture, the Company shall have the right to prepay the SecuritiesNotes, in whole or in part, at any time and from time to time, on or after February 1[ , 2007, ] at the optional prepayment a redemption price equal to the outstanding principal amount of the Securities to be prepaid, plus accrued and unpaid interest thereon (including Compounded Interest and Additional Interest, if any) and any Additional Sums to the applicable date of prepayment (the "Optional Prepayment Price"). Any prepayment pursuant to this paragraph will be made upon not less than 30 days’ nor more than 60 days’ notice to the Holders of the Notes. If the Securities Notes are only partially prepaid pursuant to this Section 14.023.2, the Securities to Notes will be prepaid will be chosen pro rata or by lot or by any other method utilized by the Trustee; providedprovided that if, that, as to Securities registered as a Global Security at the time of prepayment, the Notes are registered as a Global Note, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities Notes held by each beneficial owner Holder of such Securities a Note to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York City time, on the date of such prepayment or at such earlier time as the Company determines, provided, determines provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid. (b) Notwithstanding If a partial prepayment of the first sentence Notes would result in the delisting of Section 14.02(a), upon the entry of an order for dissolution of Trenwick Capital Securities issued by the Trust I by a court of competent jurisdictionfrom any national securities exchange or other organization on which the Capital Securities are then listed, the Securities thereafter will Company shall not be subject permitted to optional prepayment, effect such partial prepayment and may only prepay the Notes in whole only, butwhole.

Optional Prepayment by Company. (a) Subject to the provisions of this Section 3.2(b) and to the provisions of Article XIV14 of the Indenture, the Company shall have the right to prepay the SecuritiesNotes, in whole or in part, at any time and from time to time, on or after February 1August 25, 20072010, at the optional prepayment a redemption price equal to the outstanding principal amount of the Securities to be prepaid, plus accrued and unpaid interest thereon (including Compounded Interest and Additional Interest, if any) and any Additional Sums to the applicable date of prepayment (the "Optional Prepayment Price"). Any prepayment pursuant to this paragraph will be made upon not less than 30 days' nor more than 60 days' notice to the Holders of the Notes. If the Securities Notes are only partially prepaid pursuant to this Section 14.023.2, the Securities to Notes will be prepaid will be chosen pro rata or by lot or by any other method utilized by the Trustee; providedprovided that if, that, as to Securities registered as a Global Security at the time of prepayment, the Notes are registered as a Global Note, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities Notes held by each beneficial owner Holder of such Securities a Note to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York City time, on the date of such prepayment or at such earlier time as the Company determines, provided, determines provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid. (b) Notwithstanding If a partial prepayment of the first sentence Notes would result in the delisting of Section 14.02(a), upon the entry of an order for dissolution of Trenwick Capital Securities issued by the Trust I by a court of competent jurisdictionfrom any national securities exchange or other organization on which the Capital Securities are then listed, the Securities thereafter will Company shall not be subject permitted to optional prepayment, effect such partial prepayment and may only prepay the Notes in whole only, butwhole.

Optional Prepayment by Company. (a) Subject to the provisions of this Section 3.2(b) and to the provisions of Article XIV14 of the Indenture, the Company shall have the right to prepay the SecuritiesNotes, in whole or in part, at any time and from time to time, on or after February 1August 15, 2007, at the optional prepayment a redemption price equal to the outstanding principal amount of the Securities to be prepaid, plus accrued and unpaid interest thereon (including Compounded Interest and Additional Interest, if any) and any Additional Sums to the applicable date of prepayment (the "Optional Prepayment Price"). Any prepayment pursuant to this paragraph will be made upon not less than 30 days’ nor more than 60 days’ notice to the Holders of the Notes. If the Securities Notes are only partially prepaid pursuant to this Section 14.023.2, the Securities to Notes will be prepaid will be chosen pro rata or by lot or by any other method utilized by the Trustee; provided, that, as to Securities that if at the time of prepayment the Notes are registered as a Global Security at the time of prepaymentNote, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities Notes held by each beneficial owner Holder of such Securities a Note to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York City time, on the date of such prepayment or at such earlier time as the Company determines, provided, determines provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid. (b) Notwithstanding If a partial prepayment of the first sentence Notes would result in the delisting of Section 14.02(a), upon the entry of an order for dissolution of Trenwick Capital Securities issued by the Trust I by a court of competent jurisdictionfrom any national securities exchange or other organization on which the Capital Securities are then listed, the Securities thereafter will Company shall not be subject permitted to optional prepayment, effect such partial prepayment and may only prepay the Notes in whole only, butwhole.

Optional Prepayment by Company. (a) Subject to the provisions of this Section 3.2(b) and to the provisions of Article XIV14 of the Indenture, the Company shall have the right to prepay the SecuritiesNotes, in whole or in part, at any time and from time to time, on or after February 1November 3, 20072009, at the optional prepayment a redemption price equal to the outstanding principal amount of the Securities to be prepaid, plus accrued and unpaid interest thereon (including Compounded Interest and Additional Interest, if any) and any Additional Sums to the applicable date of prepayment (the "Optional Prepayment Price"). Any prepayment pursuant to this paragraph will be made upon not less than 30 days’ nor more than 60 days’ notice to the Holders of the Notes. If the Securities Notes are only partially prepaid pursuant to this Section 14.023.2, the Securities to Notes will be prepaid will be chosen pro rata or by lot or by any other method utilized by the Trustee; providedprovided that if, that, as to Securities registered as a Global Security at the time of prepayment, the Notes are registered as a Global Note, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities Notes held by each beneficial owner Holder of such Securities a Note to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York City time, on the date of such prepayment or at such earlier time as the Company determines, provided, determines provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid. (b) Notwithstanding If a partial prepayment of the first sentence Notes would result in the delisting of Section 14.02(a), upon the entry of an order for dissolution of Trenwick Capital Securities issued by the Trust I by a court of competent jurisdictionfrom any national securities exchange or other organization on which the Capital Securities are then listed, the Securities thereafter will Company shall not be subject permitted to optional prepayment, effect such partial prepayment and may only prepay the Notes in whole only, butwhole.

Optional Prepayment by Company. (a) Subject to the provisions of this Section 3.2(b) and to the provisions of Article XIV14 of the Indenture, the Company shall have the right to prepay the SecuritiesNotes, in whole or in part, at any time and from time to time, on or after February 1[ , 2007], at the optional prepayment a redemption price equal to the outstanding principal amount of the Securities to be prepaid, plus accrued and unpaid interest thereon (including Compounded Interest and Additional Interest, if any) and any Additional Sums to the applicable date of prepayment (the "Optional Prepayment Price"). Any prepayment pursuant to this paragraph will be made upon not less than 30 days’ nor more than 60 days’ notice to the Holders of the Notes. If the Securities Notes are only partially prepaid pursuant to this Section 14.023.2, the Securities to Notes will be prepaid will be chosen pro rata or by lot or by any other method utilized by the Trustee; provided, that, as to Securities that if at the time of prepayment the Notes are registered as a Global Security at the time of prepaymentNote, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities Notes held by each beneficial owner Holder of such Securities a Note to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York City time, on the date of such prepayment or at such earlier time as the Company determines, provided, determines provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid. (b) Notwithstanding If a partial prepayment of the first sentence Notes would result in the delisting of Section 14.02(a), upon the entry of an order for dissolution of Trenwick Capital Securities issued by the Trust I by a court of competent jurisdictionfrom any national securities exchange or other organization on which the Capital Securities are then listed, the Securities thereafter will Company shall not be subject permitted to optional prepayment, effect such partial prepayment and may only prepay the Notes in whole only, butwhole.