Common use of Redemption at Option of the Holder Clause in Contracts

Redemption at Option of the Holder. Subject to the terms and conditions of the Program, a Security may be redeemed in full or in part at any time at the option of, and upon demand by, the Holder. Subject to the terms and conditions of the Program, demand may be made for full or partial redemption of a Security by demand to the Company pursuant to the Program in such manner as the Company deems appropriate. The Company covenants that it will pay or cause to be paid to Holder, whether directly or through the Trustee or to the Paying Agent, funds in an amount sufficient to pay the Principal Amount plus accrued and unpaid interest of the Security or portion thereof to be redeemed.

Redemption at Option of the Holder. Subject to the terms and conditions of the Program, a Security may be redeemed in full or in part at any time at the option of, and upon demand by, the Holder. Subject to the terms and conditions of the Program, demand may be made for full or partial redemption of a Security by demand to the Company pursuant to the Program in such manner as the Company deems appropriate. The Company covenants that it will pay or cause to be paid to Holder, whether directly or through the Trustee or to the Paying Agent, Agent funds in an amount sufficient to pay the Principal Amount plus accrued and unpaid interest of the Security or portion thereof to be redeemed.