Common use of Purchase by the Issuer Clause in Contracts

Purchase by the Issuer. The Issuer may (subject to Article 11 hereof) at any time purchase all or any of the Notes in the market (which shall include a purchase from or through an investment dealer or a firm holding membership on a recognized stock exchange) or by invitation for tenders or by private contract at such price or prices as may be determined by the Board. If, upon an invitation for tenders, more Notes than the Issuer is prepared to accept are tendered at the same lowest price that the Issuer is prepared to accept, the Notes to be purchased by the Issuer shall be selected by the Trustee pro rata, by lot, or in such other manner as the Trustee may consider equitable, from the Notes tendered by each Holder who tendered at such lowest price. For this purpose, the Trustee may make, and from time to time amend, regulations with respect to the manner in which Notes may be so selected and regulations so made shall be valid and binding upon all Holders notwithstanding the fact that, as a result thereof, one or more of such Notes may become subject to purchase in part only. The Holder of any Notes of which a part only is purchased, upon surrender of such Notes for payment, shall be entitled to receive, without expense to such Holder, one or more new Notes for the unpurchased part so surrendered and the Trustee shall certify and deliver such new Notes upon receipt of the Notes so surrendered.

Purchase by the Issuer. The Issuer may (subject to Article 11 hereofof the Indenture) at any time purchase all or any of the Fourth Series Notes in the market (which shall include a purchase from or through an investment dealer or a firm holding membership on a recognized stock exchange) or by invitation for tenders or by private contract at such price or prices as may be determined by the Board. If, upon an invitation for tenders, more Fourth Series Notes than the Issuer is prepared to accept are tendered at the same lowest price that the Issuer is prepared to accept, the Fourth Series Notes to be purchased by the Issuer shall be selected by the Trustee pro rata, by lot, or in such other manner as the Trustee may consider equitable, from the Fourth Series Notes tendered by each Holder who tendered at such lowest price. For this purpose, the Trustee may make, and from time to time amend, regulations with respect to the manner in which Fourth Series Notes may be so selected and regulations so made shall be valid and binding upon all Holders notwithstanding the fact that, as a result thereof, one or more of such Fourth Series Notes may become subject to purchase in part only. The Holder of any Fourth Series Notes of which a part only is purchased, upon surrender of such Fourth Series Notes for payment, shall be entitled to receive, without expense to such Holder, one or more new Fourth Series Notes for the unpurchased part so surrendered and the Trustee shall certify and deliver such new Fourth Series Notes upon receipt of the Fourth Series Notes so surrendered.

Purchase by the Issuer. The Issuer may (subject to Article 11 hereofof the Indenture) at any time purchase all or any of the Third Series Notes in the market (which shall include a purchase from or through an investment dealer or a firm holding membership on a recognized stock exchange) or by invitation for tenders or by private contract at such price or prices as may be determined by the Board. If, upon an invitation for tenders, more Third Series Notes than the Issuer is prepared to accept are tendered at the same lowest price that the Issuer is prepared to accept, the Third Series Notes to be purchased by the Issuer shall be selected by the Trustee pro rata, by lot, or in such other manner as the Trustee may consider equitable, from the Third Series Notes tendered by each Holder who tendered at such lowest price. For this purpose, the Trustee may make, and from time to time amend, regulations with respect to the manner in which Third Series Notes may be so selected and regulations so made shall be valid and binding upon all Holders notwithstanding the fact that, as a result thereof, one or more of such Third Series Notes may become subject to purchase in part only. The Holder of any Third Series Notes of which a part only is purchased, upon surrender of such Third Series Notes for payment, shall be entitled to receive, without expense to such Holder, one or more new Third Series Notes for the unpurchased part so surrendered and the Trustee shall certify and deliver such new Third Series Notes upon receipt of the Third Series Notes so surrendered.

Purchase by the Issuer. The Issuer may (subject to Article 11 hereofof the Indenture) at any time purchase all or any of the Second Series Notes in the market (which shall include a purchase from or through an investment dealer or a firm holding membership on a recognized stock exchange) or by invitation for tenders or by private contract at such price or prices as may be determined by the Board. If, upon an invitation for tenders, more Second Series Notes than the Issuer is prepared to accept are tendered at the same lowest price that the Issuer is prepared to accept, the Second Series Notes to be purchased by the Issuer shall be selected by the Trustee pro rata, by lot, or in such other manner as the Trustee may consider equitable, from the Second Series Notes tendered by each Holder who tendered at such lowest price. For this purpose, the Trustee may make, and from time to time amend, regulations with respect to the manner in which Second Series Notes may be so selected and regulations so made shall be valid and binding upon all Holders notwithstanding the fact that, as a result thereof, one or more of such Second Series Notes may become subject to purchase in part only. The Holder of any Second Series Notes of which a part only is purchased, upon surrender of such Second Series Notes for payment, shall be entitled to receive, without expense to such Holder, one or more new Second Series Notes for the unpurchased part so surrendered and the Trustee shall certify and deliver such new Second Series Notes upon receipt of the Second Series Notes so surrendered.. 140