Common use of Purchase of Debentures for Cancellation Clause in Contracts

Purchase of Debentures for Cancellation. The Corporation may at any time at which the Corporation is not in default hereunder purchase all or any of the Debentures in the market (which shall include 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; provided that the price at which any Debenture may be so purchased: (i) on or prior to December 31, 2000, shall not exceed 105% of the principal amount of such Debenture; and (ii) after December 31, 2000, shall not exceed the principal amount of such Debenture, together, in each case, with accrued and unpaid interest (to but not including the date of purchase) and costs of purchase. If, upon an invitation for tenders, more Debentures than the Corporation is prepared to accept are tendered at the same Lowest price that the Corporation is prepared to accept the Debentures to be purchased by the Corporation shall be selected by the Trustee by lot, or in such other manner as the Trustee may consider equitable, from the Debentures tendered by each Debentureholder 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 Debentures may be so selected and regulations so made shall be valid and binding upon all Debentureholders, notwithstanding the fact that, as a result thereof one or more of such Debentures become subject to purchase in part only. The Holder of any Debenture of which a part only is purchased, upon surrender of such Debenture for payment, shall be entitled to receive, without expense to such Holder, one or more new Debentures for the unpurchased part so surrendered and the Trustee shall certify and deliver such new Debenture or Debentures upon receipt of the Debenture so surrendered.

Purchase of Debentures for Cancellation. The (a) Subject to any required regulatory approval, the Corporation may at any time and at which the Corporation is not in default hereunder any price purchase all or any of the Debentures in the market (which shall include 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; provided that the price . The Corporation may not exercise this right if an Event of Default hereunder has occurred and is continuing at which any Debenture may be so purchased: (i) on or prior to December 31, 2000, shall not exceed 105% of the principal amount of such Debenture; and (ii) after December 31, 2000, shall not exceed the principal amount of such Debenture, together, in each case, with accrued and unpaid interest (to but not including the date of purchase. (b) and costs of purchase. If, upon an invitation for tenders, more Debentures than the Corporation is prepared to accept are tendered at the same Lowest lowest price that the Corporation is prepared to accept accept, the Debentures to be purchased by the Corporation shall be selected by the Trustee by lot, or in such other manner as the Trustee may consider equitable, from the Debentures tendered by each Debentureholder who tendered at such lowest price. For this purpose purpose, the Trustee may make, and from time to time amend, regulations with respect to the manner in which Debentures may be so selected and regulations so made shall be valid and binding upon all Debentureholders, notwithstanding the fact that, as a result thereof thereof, one or more of such Debentures become subject to purchase in part only. The Holder of any Debenture of which a part only is purchased, upon surrender of such Debenture for payment, shall be entitled to receive, without expense to such Holder, one or more new Debentures for the unpurchased part so surrendered and the Trustee shall certify and deliver such new Debenture or Debentures upon receipt of the Debenture so surrendered.

Purchase of Debentures for Cancellation. The Corporation may Company may, at any time at which the Corporation when it is not in default hereunder hereunder, purchase all or any of the Debentures in the market (which shall include purchase from or through an investment dealer or a firm holding membership on a recognized stock exchangeRecognized Stock Exchange) or by invitation for tenders or by private contract; provided that the price , at which any Debenture may be so purchased: (i) on or prior to December 31, 2000, shall not exceed 105% of the principal amount of such Debenture; and (ii) after December 31, 2000, shall not exceed the principal amount of such Debenture, togetherprice, in each casecompliance with any Applicable Securities Legislation and stock exchange rules. All Debentures so purchased shall forthwith be delivered to the Debenture Trustee and shall be cancelled by it and, with accrued and unpaid interest (subject to but not including the date following paragraph of purchase) and costs of purchasethis section 3.1, no Debentures shall be issued in substitution therefor. If, upon an invitation for tenders, more Debentures than the Corporation is prepared to accept are tendered at the same Lowest lowest price that than the Corporation Company is prepared to accept accept, the Debentures to be purchased by the Corporation Company shall be selected by the Debenture Trustee by lot, or in such other manner (which may include on a pro rata basis, random selection by computer or any other method) as the Debenture Trustee may consider equitableequitable and expedient, from the Debentures tendered by each Debentureholder who tendered at such lowest price. For this purpose the Debenture Trustee may make, and from time to time amend, regulations with respect to the manner in which Debentures may be so selected and regulations so made shall be valid and binding upon all Debentureholders, notwithstanding the fact that, as a result thereof thereof, one or more of such Debentures become subject to purchase in part only. The Holder of any Debenture of which a part only is purchased, upon surrender of such Debenture for payment, shall be entitled to receive, without expense to such Holder, one or more new Debentures for the unpurchased part so surrendered and the Debenture Trustee shall certify and deliver such new Debenture or Debentures upon receipt of the Debenture so surrendered.

Purchase of Debentures for Cancellation. The Corporation may at At any time at which when the Corporation is not in default hereunder hereunder, it may purchase and surrender to the Trustee for cancellation (and no Debentures shall be issued in substitution therefor) all or any of the Debentures in the market (which shall include 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; provided that the price tender available to all holders alike at which any Debenture may be so purchased: (i) on or prior to December 31, 2000, shall not exceed 105% of the principal amount of such Debenture; and (ii) after December 31, 2000, shall not exceed the principal amount of such Debenture, together, in each case, with accrued and unpaid interest (to but not including the date of purchase) and costs of purchaseprice. If, upon an invitation for tenders, more Debentures than the Corporation is prepared to accept are tendered at the same Lowest price that the Corporation is prepared to accept lowest price, the Debentures to be purchased by the Corporation shall will be selected by the Trustee by lotTrustee, or in such other manner as the Trustee may consider deem equitable, from the Debentures tendered by each tendering Debentureholder 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 Debentures may be so selected and regulations so made shall be valid and binding upon all Debentureholders, notwithstanding the fact that, as a result thereof thereof, one or more of such Debentures become subject to purchase in part only. The Holder holder of any a Debenture of which a part only is purchased, upon surrender of such Debenture for payment, shall be entitled to receive, without expense to such Holderholder, one or more new Debentures for the unpurchased part so surrendered surrendered, and the Trustee shall certify and deliver such new Debenture or Debentures upon receipt of the Debenture so surrendered.