Partial Redemption of Bonds. Upon surrender of any Bond for redemption in part only, the Issuer shall execute and the Trustee shall authenticate and deliver to the holder thereof a new Bond or Bonds of the same series and the same maturity, of authorized denominations in an aggregate principal amount equal to the unredeemed portion of the Bond surrendered.
Partial Redemption of Bonds. If fewer than all of the Series 20 Bonds at the time outstanding are to be called for redemption, the maturities of Series 20 Bonds or portions thereof to be redeemed shall be selected by the Trustee at the direction of the Borrower. If fewer than all of the Series 20 Bonds within a maturity are to be redeemed, the Trustee shall select by lot (meaning also random selection by computer) in such manner as the Trustee, in its discretion, may determine, the Series 20 Bonds or portions of Series 20 Bonds within such maturity that shall be redeemed. The Trustee shall call for redemption in accordance with the foregoing provisions as many Series 20 Bonds or portions thereof as will, as nearly as practicable, exhaust the moneys available therefor. Particular Series 20 Bonds or portions thereof shall be redeemed only in the minimum principal amount of $5,000 or integral multiples thereof. If less than the entire principal amount of any registered Series 20 Bond then outstanding is called for redemption, then upon notice of redemption given as provided in Section 5.2 hereof, the Owner of such registered Series 20 Bond shall forthwith surrender such Series 20 Bond to the Paying Agent in exchange for (a) payment of the redemption price of, plus accrued interest on the principal amount called for redemption and (b) a new Series 20 Bond or Series 20 Bonds of like series in an aggregate principal amount equal to the unredeemed balance of the principal amount of such registered Series 20__ Bond, which shall be issued without charge therefor; provided that so long as the Series 20 Bonds are held in a Book-Entry-System with a depository, any such Series 20 Bonds called for partial redemption do not need to be presented for payment of principal.
Partial Redemption of Bonds. Upon surrender of any Bonds redeemed in part only, the Agency shall execute and the Trustee shall authenticate and deliver to the Owner thereof, at the expense of the Agency, a new Bond or Bonds of authorized denominations equal in aggregate principal amount to the unredeemed portion of the Bonds surrendered and of the same interest rate and maturity.
Partial Redemption of Bonds. In case a Bond is of a denomination larger than the minimum Authorized Denomination, all or a portion of such Bond may be redeemed provided the principal amount not being redeemed is in an Authorized Denomination. Upon surrender of any Bond for redemption in part only, the Issuer shall execute and the Trustee shall authenticate and deliver to the Owner thereof, without cost to the Owner, a new Bond or Bonds of Authorized Denominations in aggregate principal amount equal to the unredeemed portion of the Bond surrendered.
Partial Redemption of Bonds. (a) Upon surrender of any Bond for redemption in part only, the Issuer shall execute and the Trustee shall authenticate and deliver to the Owner thereof a new Bond or Bonds of authorized denominations, in an aggregate principal amount equal to the unredeemed portion of the Bond surrendered.
(b) In case a Bond is of a denomination larger than $5,000, a portion of such Bond ($5,000 or any integral multiple thereof) may be redeemed, but Bonds shall be redeemed only in the principal amount of $5,000 or any integral multiple thereof.
(c) Notwithstanding anything to the contrary contained in this Indenture, whenever the Bonds are to be redeemed in part, Bonds which are Pledged Bonds at the time of selection of Bonds for redemption shall be selected for redemption prior to the selection of any other Bonds. If the aggregate principal amount of Bonds to be redeemed exceeds the aggregate principal amount of Pledged Bonds at the time of selection, the Trustee or, if the Book-Entry System is in effect, the Securities Depository, may select for redemption Bonds in an aggregate principal amount equal to such excess by lot or in such other manner as the Trustee may determine. If the Book-Entry System is in effect, upon a redemption of less than the entire amount of the Bonds outstanding, the Trustee shall (i) either exchange the Bond or Bonds held by the Securities Depository for a new Bond or Bonds in the appropriate principal amount, if such Bond is presented to the Trustee by the Securities Depository, or (ii) obtain from the Securities Depository a written confirmation of the reduction in the principal amount of the Bonds held by such Securities Depository.
(d) No Bond may be redeemed in part if the principal amount thereof to remain Outstanding following such redemption is not itself an Authorized Denomination.
Partial Redemption of Bonds. Paragraph (c) of Section 3.06 of the Original Indenture is hereby amended and restated in its entirety as follows:
Partial Redemption of Bonds. Upon surrender of any Bond redeemed in part only, the Registrar shall exchange the Bond redeemed for a new Bond of like tenor and in an Authorized Denomination without charge to the Owner in the principal amount of the portion of the Bond not redeemed. In the event of any partial redemption of a Bond which is registered in the name of Cede & Co., DTC may elect to make a notation on the Bond certificate which reflects the date and amount of the reduction in the principal amount of said Bond in lieu of surrendering the Bond certificate to the Registrar for exchange. The Issuer, the Company and the Trustee shall be fully released and discharged from all liability to the extent of payment of the redemption price for such partial redemption.
Partial Redemption of Bonds. (a) Upon surrender of any Bond for redemption in part only, the Issuer shall execute and the Trustee shall authenticate and deliver to the Owner thereof a new Bond or Bonds of authorized denominations, in an aggregate principal amount equal to the unredeemed portion of the Bond surrendered.
(b) During any Daily Period, Weekly Period or Commercial Paper Period, during which the authorized denominations are $100,000 and integral multiples of $5,000 in excess thereof, in the event a Bond is of a denomination larger than $100,000, a portion of such Bond may be redeemed, but Bonds shall be redeemed only in an amount that causes the unredeemed portion to be in the principal amount of $100,000 or any integral multiple of $5,000 in excess thereof.
Partial Redemption of Bonds. Upon surrender of any Bond redeemed in part only, the County on behalf of the District shall execute and the Paying Agent shall authenticate and deliver to the Owner thereof, at the expense of the District, a new Bond of the same subseries in a Principal Amount equal to the unredeemed portion of the Bond surrendered.
Partial Redemption of Bonds. In case less than all of the outstanding Bonds are to be redeemed, the Company shall in each such case, at least twenty business days before the date upon which the Redemption Notice is required to be given, notify the Trustee in writing of its intention to redeem Bonds and of the aggregate principal amount of Bonds so to be redeemed. The Bonds so to be redeemed may be selected on a pro rata basis (to the nearest multiple of €1,000) in accordance with the principal amount of Bonds registered in the name of each holder, by lot by the Trustee, or, if applicable, by such other method that complies with the requirements of any stock exchange on which the Bonds are then listed or quoted and that the Trustee may deem equitable. For this purpose the Trustee may make regulations with regard to the manner in which such Bonds may be so selected and regulations so made shall be valid and binding upon all Bond holders. Bonds of denominations in excess of €1,000 may be selected and called for redemption in part only (such part being €1,000 or an integral multiple thereof) and, unless the context otherwise requires, references to Bonds in this Article 3 shall be deemed to include any such part of the principal amount of Bonds which shall have been so selected and called for redemption. The holder of any Bond called for redemption in part only, upon surrender of such Bond for payment as required by Section 3.6, shall be entitled to receive, without expense to such holder, one or more new Bonds for the unredeemed part of the Bond so surrendered, and the Trustee shall certify and deliver such new Bond or Bonds upon receipt of the Bonds so surrendered.
