Common use of Optional Redemption by Note Issuer Clause in Contracts

Optional Redemption by Note Issuer. The Note Issuer may, at its option, redeem all, but not less than all, of the Notes of a Series (a) on any Payment Date if, after giving effect to payments that would otherwise be made on such Payment Date, the Outstanding Amount of any such Series of Notes has been reduced to less than five percent of the initial principal balance thereof, or (b) if specified in the related Issuance Certificate or Series Supplement on any Payment Date from the proceeds of the issuance and sale of the Notes of any other Series. In addition, a Series of Notes shall be subject to redemption if and to the extent provided in the related Issuance Certificate or Series Supplement. In no event, however, shall any Notes be redeemable unless the Rating Agency Condition shall be satisfied with respect to each Rating Agency, to which prior written notice of such redemption shall have been given, with respect to any Notes which remain Outstanding after such redemption. The redemption price in any case shall be equal to the outstanding principal amount of the Notes to be redeemed plus, premium, if any, accrued and unpaid interest thereon at the Note Interest Rate to the Optional Redemption Date (such price being called the "Optional Redemption Price"). If less than all the Notes of any Series are to be redeemed (unless all of the Notes of such Series and of a specified Class are to be redeemed), the particular Notes to be redeemed shall be selected not more than 50 and not less than 25 days prior to the Optional Redemption Date by the Note Issuer, from the Notes of such Series not previously called for redemption, by such method as the Note Issuer shall deem fair and appropriate and which may provide for the selection for redemption of portions (equal to the Minimum Denomination for Notes of that Series or any integral multiple thereof) of the principal amount of Notes of such Series of a denomination larger than the Minimum Denomination for Notes of that Series. If less than all of the Notes of such Series and of a specified Class are to be redeemed, the particular Notes to be redeemed shall be selected not more than 50 and not less than 25 days prior to the Optional Redemption Date by the Note Issuer, from the Outstanding Notes of such Series and specified Class not previously called for redemption in accordance with the preceding sentence. For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Notes shall relate, in the case of any Notes redeemed or to be redeemed only in part, to the portion of the principal amount of such Notes which has been or is to be redeemed. If the Note Issuer shall elect to redeem the Notes of a Series 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 Indenture Trustee and the Rating Agencies not more than 50 and not less than 25 days prior to the Optional Redemption Date and shall deposit with the Indenture Trustee not later than one Business Day prior to the Optional Redemption Date the Optional Redemption Price of the Notes to be redeemed whereupon all such Notes shall be due and payable on the Optional Redemption Date upon the furnishing of a notice complying with Section 10.02 to each Holder of the Notes of such Series pursuant to this Section 10.01.

Optional Redemption by Note Issuer. The Note Issuer may, at its option, redeem all, but not less than all, of the Notes of a Series (a) on any Payment Date if, after giving effect to payments that would otherwise be made on such Payment Date, the Outstanding Amount of any such Series of Notes has been reduced to less than five percent of the initial principal balance thereof, or (b) if specified in the related Issuance Certificate or Series Supplement on any Payment Date from the proceeds of the issuance and sale of the Notes of any other Series. In addition, a Series of Notes shall be subject to redemption if and to the extent provided in the related Issuance Certificate or Series Supplement. In no event, however, shall any Notes be redeemable unless the Rating Agency Condition shall be satisfied with respect to each Rating Agency, to which prior written notice of such redemption shall have been given, with respect to any Notes which remain Outstanding after such redemption. The redemption price in any case shall be equal to the outstanding principal amount of the Notes to be redeemed plus, premium, if any, accrued and unpaid interest thereon at the Note Interest Rate to the Optional Redemption Date (such price being called the "Optional Redemption Price"). If less than all the Notes of any Series are to be redeemed (unless all of the Notes of such Series and of a specified Class are to be redeemed), the particular Notes to be redeemed shall be selected not more than 50 and not less than 25 days prior to the Optional Redemption Date by the Note Issuer, from the Notes of such Series not previously called for redemption, by such method as the Note Issuer shall deem fair and appropriate and which may provide for the selection for redemption of portions (equal to the Minimum Denomination for Notes of that Series or any integral multiple thereof) of the principal amount of Notes of such Series of a denomination larger than the Minimum Denomination for Notes of that Series. If less than all of the Notes of such Series and of a specified Class are to be redeemed, the particular Notes to be redeemed shall be selected not more than 50 and not less than 25 days prior to the Optional Redemption Date by the Note Issuer, from the Outstanding Notes of such Series and specified Class not previously called for redemption in accordance with the preceding sentence. For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Notes shall relate, in the case of any Notes redeemed or to be redeemed only in part, to the portion of the principal amount of such Notes which has been or is to be redeemed. If the Note Issuer shall elect to redeem the Notes of a Series 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 Indenture Trustee and the Rating Agencies not more than 50 and not less than 25 days prior to the Optional Redemption Date and shall deposit with the Indenture Trustee not later than one Business Day prior to the Optional Redemption Date the Optional Redemption Price of the Notes to be redeemed whereupon all such Notes shall be due and payable on the Optional Redemption Date upon the furnishing of a notice complying with Section 10.02 to each Holder of the Notes of such Series pursuant to this Section 10.01.

Optional Redemption by Note Issuer. The Note Issuer may, at its option, redeem all, but not less than all, of the Notes of a Series (a) on any Payment Date if, after giving effect to payments that would otherwise be made on such Payment Date, the Outstanding Amount of any such Series of Notes has been reduced to less than five percent of the initial principal balance thereof, ; or (b) if and to the extent specified in the related Trust Issuance Certificate or Series Supplement Supplement, if any, on any Payment Date on or prior to December 31, 2004, from the proceeds of the issuance and sale of the Notes of any other Series. In addition, a Series of Notes shall be subject to redemption if and to the extent provided in the related Trust Issuance Certificate or Series Supplement, if any. In no event, however, shall any Notes be redeemable unless the Rating Agency Condition shall be satisfied with respect to each Rating AgencyAgency other than Moody's, to which prior written notice of such redemption shall have been given, with respect to any Notes which remain Outstanding after such redemption. The redemption price in any case shall be equal to the outstanding principal amount of the Notes to be redeemed plus, premium, if any, plus accrued and unpaid interest thereon at the Note Interest Rate to the Optional Redemption Date (such price being called the "Optional Redemption Price"). If less than all the Notes of any Series are to be redeemed (unless all of the Notes of such Series and of a specified Class are to be redeemed), the particular Notes to be redeemed shall be selected not more than 50 and not less than 25 days prior to the Optional Redemption Date by the Note Issuer, from the Notes of such Series not previously called for redemption, by such method as the Note Issuer shall deem fair and appropriate and which may provide for the selection for redemption of portions (equal to the Minimum Denomination for Notes of that Series or any integral multiple thereof) of the principal amount of Notes of such Series of a denomination larger than the Minimum Denomination for Notes of that Series. If less than all of the Notes of such Series and of a specified Class are to be redeemed, the particular Notes to be redeemed shall be selected not more than 50 and not less than 25 days prior to the Optional Redemption Date by the Note Issuer, from the Outstanding Notes of such Series and specified Class not previously called for redemption in accordance with the preceding sentence. For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Notes shall relate, in the case of any Notes redeemed or to be redeemed only in part, to the portion of the principal amount of such Notes which has been or is to be redeemed. If the Note Issuer shall elect to redeem the Notes of a Series 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 Indenture Trustee and the Rating Agencies not more than 50 and not less than 25 days prior to the Optional Redemption Date and shall deposit with the Indenture Trustee not later than one Business Day prior to the Optional Redemption Date the Optional Redemption Price of the Notes to be redeemed whereupon all such Notes shall be due and payable on the Optional Redemption Date upon the furnishing of a notice complying with Section 10.02 hereof to each Holder of the Notes of such Series pursuant to this Section 10.01.

Optional Redemption by Note Issuer. The Note Issuer may, at its option, redeem all, but not less than all, of the Notes of a Series (a) on any Payment Date if, after giving effect to payments that would otherwise be made on such Payment Date, the Outstanding Amount of any such Series of Notes has been reduced to less than five percent of the initial principal balance thereof, or (b) if and to the extent specified in the related Trustee's Issuance Certificate or Series Supplement on any Payment Date from the proceeds of the issuance and sale of the Notes of any other Series. In addition, a Series of Notes shall be subject to redemption if and to the extent provided in the related Trustee's Issuance Certificate or Series Supplement. In no event, however, shall any Notes be redeemable unless the Rating Agency Condition shall be satisfied with respect to each Rating AgencyAgency other than Xxxxx'x, to which prior written notice of such redemption shall have been given, with respect to any Notes which remain Outstanding after such redemption. The redemption price in any case shall be equal to the outstanding principal amount of the Notes to be redeemed plus, premium, if any, plus accrued and unpaid interest thereon at the Note Interest Rate to the Optional Redemption Date (such price being called the "Optional Redemption Price"). If less than all the Notes of any Series are to be redeemed (unless all of the Notes of such Series and of a specified Class are to be redeemed), the particular Notes to be redeemed shall be selected not more than 50 and not less than 25 days prior to the Optional Redemption Date by the Note Issuer, from the Notes of such Series not previously called for redemption, by such method as the Note Issuer shall deem fair and appropriate and which may provide for the selection for redemption of portions (equal to the Minimum Denomination for Notes of that Series or any integral multiple thereof) of the principal amount of Notes of such Series of a denomination larger than the Minimum Denomination for Notes of that Series. If less than all of the Notes of such Series and of a specified Class are to be redeemed, the particular Notes to be redeemed shall be selected not more than 50 and not less than 25 days prior to the Optional Redemption Date by the Note Issuer, from the Outstanding Notes of such Series and specified Class not previously called for redemption in accordance with the preceding sentence. For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Notes shall relate, in the case of any Notes redeemed or to be redeemed only in part, to the portion of the principal amount of such Notes which has been or is to be redeemed. If the Note Issuer shall elect to redeem the Notes of a Series 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 Indenture Trustee and the Rating Agencies not more than 50 and not less than 25 days prior to the Optional Redemption Date and shall deposit with the Indenture Trustee not later than one Business Day prior to the Optional Redemption Date the Optional Redemption Price of the Notes to be redeemed whereupon all such Notes shall be due and payable on the Optional Redemption Date upon the furnishing of a notice complying with Section 10.02 to each Holder of the Notes of such Series pursuant to this Section 10.01.