Common use of Optional Redemption by Issuer Clause in Contracts

Optional Redemption by Issuer. The Issuer may redeem the Bonds, in whole, at its option, without premium or penalty, only after the latest Scheduled Maturity Date for all Classes of Bonds and only if the Outstanding Amount of any such Bonds on or before the Redemption Date is less than or equal to five percent (5%) of the initial principal amount of all Bonds. The redemption price in any case shall be equal to the outstanding principal amount of the Bonds to be redeemed, plus accrued and unpaid interest thereon at the Bond Interest Rate to the Redemption Date (such price being called the “Optional Redemption Price”). The Issuer may only redeem Bonds pursuant to this Section 10.01 if the Issuer has adequate funds to do so and if such exercise would not cause the Issuer to be insolvent. If the Issuer shall elect to redeem the Bonds pursuant to this Section 10.01, it shall furnish written notice (which notice shall state all items listed in Section 10.02) of such election to the Trustee and the Rating Agencies not less than twenty-five (25) days nor more than fifty (50) days prior to the Redemption Date and shall deposit with the Trustee not later than one (1) Business Day prior to the Redemption Date the Redemption Price of the Bonds to be redeemed whereupon all such Bonds shall be due and payable on the Redemption Date upon the furnishing of a notice complying with Section 10.02 hereof to each Holder of the Bonds pursuant to this Section 10.01.

Optional Redemption by Issuer. The (a) Subject to the provisions of Section 3.2(b) and to the provisions of Article Eleven of the Indenture, the Issuer may shall have the right to redeem the BondsNotes, in wholewhole or in part, from time to time, on or after December 31, 2000, at its option, without premium or penalty, only after the latest Scheduled Maturity Date for all Classes of Bonds and only if the Outstanding Amount of any such Bonds on or before the Redemption Date is less than or a redemption price equal to five percent (5%) 100% of the initial principal amount of all Bonds. The redemption price in any case shall be equal to the outstanding principal amount of the Bonds to be redeemed, redeemed plus any accrued and unpaid interest thereon at the Bond Interest Rate to the Redemption Date date of such redemption (such price being called the “"Optional Redemption Price”"). The Issuer may Any redemption 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 Redemption Price. If the Notes are only redeem Bonds partially redeemed pursuant to this Section 10.01 3.2, the Notes will be redeemed on a pro rata basis provided that if at the time of redemption the Notes are registered as a Global Note, the Depository shall determine, in accordance with its procedures, the principal amount of such Notes held by each Holder of Notes to be redeemed. The Optional Redemption Price shall be paid prior to 12:00 noon, New York time, on the date of such redemption or at such earlier time as the Issuer has adequate funds to do so determines and if such exercise would not cause the Issuer to be insolvent. If the Issuer shall elect to redeem the Bonds pursuant to this Section 10.01, it shall furnish written notice (which notice shall state all items listed in Section 10.02) of such election to the Trustee and the Rating Agencies not less than twenty-five (25) days nor more than fifty (50) days prior to the Redemption Date and shall deposit with the Trustee not later than one (1) Business Day prior an amount sufficient to pay the Redemption Date the Optional Redemption Price by 10:00 a.m., New York time, on the date such Optional Redemption Price is to be paid. (b) If a partial redemption of the Bonds to be redeemed whereupon all such Bonds shall be due and payable on Notes would result in the Redemption Date upon the furnishing of a notice complying with Section 10.02 hereof to each Holder delisting of the Bonds pursuant Preferred Securities from any national securities exchange or other organization on which the Preferred Securities are then listed, the Issuer shall not be permitted to this Section 10.01effect such partial redemption and may only redeem the Notes in whole.

Optional Redemption by Issuer. The (a) Subject to the provisions of Section 3.2(b) and to the provisions of Article XI of the Indenture, the Issuer may shall have the right to redeem the BondsDebentures, in wholewhole or in part, from time to time, on or after , 20 , at its option, without premium or penalty, only after the latest Scheduled Maturity Date for all Classes of Bonds and only if the Outstanding Amount of any such Bonds on or before the Redemption Date is less than or a redemption price equal to five percent (5%) 100% of the initial principal amount of all Bonds. The redemption price in any case shall be equal to the outstanding principal amount of the Bonds --------- -- to be redeemed, redeemed plus any accrued and unpaid interest thereon at the Bond Interest Rate to the Redemption Date date of such redemption (such price being called the “"Optional Redemption Price”"). The Issuer may Any redemption pursuant to this paragraph will be made upon not less than 30 days' nor more than 60 days' notice to the Holder of the Debentures, at the Optional Redemption Price. If the Debentures are only redeem Bonds partially redeemed pursuant to this Section 10.01 3.2, the Debentures will be redeemed on a pro rata basis provided that if at the time of redemption the Debentures are registered as a Global Debenture, the Depositary shall determine, in accordance with its procedures, the principal amount of such Debentures held by each Holder of Debentures to be redeemed. The Optional Redemption Price shall be paid prior to 12:00 noon, local time, on the date of such redemption or at such earlier time as the Issuer has adequate funds to do so determines and if such exercise would not cause the Issuer to be insolvent. If the Issuer shall elect to redeem the Bonds pursuant to this Section 10.01, it shall furnish written notice (which notice shall state all items listed in Section 10.02) of such election to the Trustee and the Rating Agencies not less than twenty-five (25) days nor more than fifty (50) days prior to the Redemption Date and shall deposit with the Trustee not later than one (1) Business Day prior an amount sufficient to pay the Redemption Date the Optional Redemption Price by 10:00 a.m., local time, on the date such Optional Redemption Price is to be paid. (b) If a partial redemption of the Bonds to be redeemed whereupon all such Bonds shall be due and payable on Debentures would result in the Redemption Date upon the furnishing of a notice complying with Section 10.02 hereof to each Holder delisting of the Bonds pursuant Preferred Securities from any national securities exchange or other organization on which the Preferred Securities are then listed, the Issuer shall not be permitted to this Section 10.01effect such partial redemption and may only redeem the Debentures in whole.

Optional Redemption by Issuer. The (a) Subject to the provisions of Section 3.2(b) and to the provisions of Article Eleven of the Indenture, the Issuer may shall have the right to redeem the BondsNotes, in wholewhole or in part, from time to time, on or after June 30, 2006, at its option, without premium or penalty, only after the latest Scheduled Maturity Date for all Classes of Bonds and only if the Outstanding Amount of any such Bonds on or before the Redemption Date is less than or a redemption price equal to five percent (5%) 100% of the initial principal amount of all Bonds. The redemption price in any case shall be equal to the outstanding principal amount of the Bonds to be redeemed, redeemed plus any accrued and unpaid interest thereon at the Bond Interest Rate to the Redemption Date date of such redemption (such price being called the “"Optional Redemption Price”"). The Issuer may Any redemption 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 Redemption Price. If the Notes are only redeem Bonds partially redeemed pursuant to this Section 10.01 3.2, the Notes will be redeemed on a pro rata basis; provided that, if at the time of redemption the Notes are registered as a Global Note, the Depository shall determine, in accordance with its procedures, the principal amount of such Notes held by each Holder of Notes to be redeemed. The Optional Redemption Price shall be paid prior to 12:00 noon, New York time, on the date of such redemption or at such earlier time as the Issuer has adequate funds to do so determines and if such exercise would not cause the Issuer to be insolvent. If the Issuer shall elect to redeem the Bonds pursuant to this Section 10.01, it shall furnish written notice (which notice shall state all items listed in Section 10.02) of such election to the Trustee and the Rating Agencies not less than twenty-five (25) days nor more than fifty (50) days prior to the Redemption Date and shall deposit with the Trustee not later than one (1) Business Day prior an amount sufficient to pay the Redemption Date the Optional Redemption Price by 10:00 a.m., New York time, on the date such Optional Redemption Price is to be paid. (b) If a partial redemption of the Bonds to be redeemed whereupon all such Bonds shall be due and payable on Notes would result in the Redemption Date upon the furnishing of a notice complying with Section 10.02 hereof to each Holder delisting of the Bonds pursuant Preferred Securities from any national securities exchange or other organization on which the Preferred Securities are then listed, the Issuer shall not be permitted to this Section 10.01effect such partial redemption and may only redeem the Notes in whole.

Optional Redemption by Issuer. The (a) Subject to the provisions of Section 3.2(b) and to the provisions of Article Eleven of the Indenture, the Issuer may shall have the right to redeem the BondsNotes, in wholewhole or in part, from time to time, on or after , , at its option, without premium or penalty, only after the latest Scheduled Maturity Date for all Classes of Bonds and only if the Outstanding Amount of any such Bonds on or before the Redemption Date is less than or a redemption price equal to five percent (5%) 100% of the initial principal amount of all Bonds. The redemption price in any case shall be equal to the outstanding principal amount of the Bonds to be redeemed, redeemed plus any accrued and unpaid interest thereon at the Bond Interest Rate to the Redemption Date date of such redemption (such price being called the “"Optional Redemption Price”"). The Issuer may Any redemption 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 Redemption Price. If the Notes are only redeem Bonds partially redeemed pursuant to this Section 10.01 3.2, the Notes will be redeemed on a pro rata basis provided that if at the time of redemption the Notes are registered as a Global Note, the Depository shall determine, in accordance with its procedures, the principal amount of such Notes held by each Holder of Notes to be redeemed. The Optional Redemption Price shall be paid prior to 12:00 noon, New York time, on the date of such redemption or at such earlier time as the Issuer has adequate funds to do so determines and if such exercise would not cause the Issuer to be insolvent. If the Issuer shall elect to redeem the Bonds pursuant to this Section 10.01, it shall furnish written notice (which notice shall state all items listed in Section 10.02) of such election to the Trustee and the Rating Agencies not less than twenty-five (25) days nor more than fifty (50) days prior to the Redemption Date and shall deposit with the Trustee not later than one (1) Business Day prior an amount sufficient to pay the Redemption Date the Optional Redemption Price by 10:00 a.m., New York time, on the date such Optional Redemption Price is to be paid. (b) If a partial redemption of the Bonds to be redeemed whereupon all such Bonds shall be due and payable on Notes would result in the Redemption Date upon the furnishing of a notice complying with Section 10.02 hereof to each Holder delisting of the Bonds pursuant Preferred Securities from any national securities exchange or other organization on which the Preferred Securities are then listed, the Issuer shall not be permitted to this Section 10.01effect such partial redemption and may only redeem the Notes in whole.

Optional Redemption by Issuer. The (a) Subject to the provisions of Section 3.2(b) and to the provisions of Article Eleven of the Indenture, the Issuer may shall have the right to redeem the BondsDebentures, in wholewhole or in part, from time to time, on or after June 30, 2006, at its option, without premium or penalty, only after the latest Scheduled Maturity Date for all Classes of Bonds and only if the Outstanding Amount of any such Bonds on or before the Redemption Date is less than or a redemption price equal to five percent (5%) 100% of the initial principal amount of all Bonds. The redemption price in any case shall be equal to the outstanding principal amount of the Bonds to be redeemed, redeemed plus any accrued and unpaid interest thereon at the Bond Interest Rate to the Redemption Date date of such redemption (such price being called the “"Optional Redemption Price”"). The Issuer may Any redemption pursuant to this paragraph will be made upon not less than 30 days' nor more than 60 days' notice to the Holder of the Debentures, at the Optional Redemption Price. If the Debentures are only redeem Bonds partially redeemed pursuant to this Section 10.01 3.2, the Debentures will be redeemed on a pro rata basis provided that if at the time of redemption the Debentures are registered as a Global Debenture, the Depository shall determine, in accordance with its procedures, the principal amount of such Debentures held by each Holder of Debentures to be redeemed. The Optional Redemption Price shall be paid prior to 12:00 noon, New York time, on the date of such redemption or at such earlier time as the Issuer has adequate funds to do so determines and if such exercise would not cause the Issuer to be insolvent. If the Issuer shall elect to redeem the Bonds pursuant to this Section 10.01, it shall furnish written notice (which notice shall state all items listed in Section 10.02) of such election to the Trustee and the Rating Agencies not less than twenty-five (25) days nor more than fifty (50) days prior to the Redemption Date and shall deposit with the Trustee not later than one (1) Business Day prior an amount sufficient to pay the Redemption Date the Optional Redemption Price by 10:00 a.m., New York time, on the date such Optional Redemption Price is to be paid. (b) If a partial redemption of the Bonds to be redeemed whereupon all such Bonds shall be due and payable on Debentures would result in the Redemption Date upon the furnishing of a notice complying with Section 10.02 hereof to each Holder delisting of the Bonds pursuant Preferred Securities from any national securities exchange or other organization on which the Preferred Securities are then listed, the Issuer shall not be permitted to this Section 10.01effect such partial redemption and may only redeem the Debentures in whole.

Optional Redemption by Issuer. The (a) Subject to the provisions of Section 3.2(b) and to the provisions of Article XI of the Indenture, the Issuer may shall have the right to redeem the BondsDebentures, in wholewhole or in part, from time to time, on or after December 16, 2007, at its option, without premium or penalty, only after the latest Scheduled Maturity Date for all Classes of Bonds and only if the Outstanding Amount of any such Bonds on or before the Redemption Date is less than or a redemption price equal to five percent (5%) 100% of the initial principal amount of all Bonds. The redemption price in any case shall be equal to the outstanding principal amount of the Bonds to be redeemed, redeemed plus any accrued and unpaid interest thereon at the Bond Interest Rate to the Redemption Date date of such redemption (such price being called the “Optional Redemption Price”). The Issuer may Any redemption pursuant to this paragraph will be made upon not less than 30 days’ nor more than 60 days’ notice to the Holder of the Debentures, at the Optional Redemption Price. If the Debentures are only redeem Bonds partially redeemed pursuant to this Section 10.01 3.2, the Debentures will be redeemed on a pro rata basis provided that if at the time of redemption the Debentures are registered as a Global Debenture, the Depositary shall determine, in accordance with its procedures, the principal amount of such Debentures held by each Holder of Debentures to be redeemed. The Optional Redemption Price shall be paid prior to 12:00 noon, local time, on the date of such redemption or at such earlier time as the Issuer has adequate funds to do so determines and if such exercise would not cause the Issuer to be insolvent. If the Issuer shall elect to redeem the Bonds pursuant to this Section 10.01, it shall furnish written notice (which notice shall state all items listed in Section 10.02) of such election to the Trustee and the Rating Agencies not less than twenty-five (25) days nor more than fifty (50) days prior to the Redemption Date and shall deposit with the Trustee not later than one (1) Business Day prior an amount sufficient to pay the Redemption Date the Optional Redemption Price by 10:00 a.m., local time, on the date such Optional Redemption Price is to be paid. (b) If a partial redemption of the Bonds to be redeemed whereupon all such Bonds shall be due and payable on Debentures would result in the Redemption Date upon the furnishing of a notice complying with Section 10.02 hereof to each Holder delisting of the Bonds pursuant Preferred Securities from any national securities exchange or other organization on which the Preferred Securities are then listed, the Issuer shall not be permitted to this Section 10.01effect such partial redemption and may only redeem the Debentures in whole.