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

Redemption at the Option of the Bondholders. (a) The Holders of the Bonds may tender Bonds or portions thereof to the Trustee for repurchase by the Issuer at a price of one hundred percent (100%) of the principal amount thereof plus accrued but unpaid interest to the date of payment for such repurchase; provided such tender is made at any time on or after January 2,1999. Such tenders will be accepted by the Trustee on a first-come, first-served basis. The Issuer shall only be obligated to honor tenders in any one calendar year up to a total principal amount equal to ten percent (10%) of the Original Aggregate Outstanding Principal Amount, commencing with calendar 1999. All tenders received by the Trustee on the same Business Day shall be deemed to have been received simultaneously. In the event that tenders are received on a Business Day which, when added to all prior tenders exceed the obligation of the Issuer to honor such tenders, the Trustee shall notify the Issuer of the amount of such tenders. The Issuer shall have fifteen (15) days following such notice to either (i) agree in writing to honor all such tenders or (ii) advise the Trustee to pro-rate such tenders. If the Issuer shall not make an election in writing within the period provided, the Trustee shall pro-rate such tenders. (b) The Trustee shall give notice to the Issuer of all tenders for repurchase within five (5) Business Days after the Trustee’s receipt thereof. Provided that the Issuer shall not have previously repurchased the maximum principal amount of Bonds provided for by subsection (a) hereof, the Issuer shall have forty-five (45) days to deposit with the Trustee the outstanding principal amount of the Bond, Bonds or part of a Bond tendered for repurchase plus accrued but unpaid interest through and including the date of such deposit, at which time the Issuer’s obligation to pay, and the Bondholder’s right to receive, interest on such principal amount shall cease, provided that the Issuer shall have deposited the amount due within such forty-five (45) day period. Failure of the Issuer to make such deposit within the time permitted shall be an Event of Default under Article XIV hereof. (c) In the event that the Trustee is required to pro-rate excess Bonds tendered for repurchase, such pro-ration shall be performed as set forth in Section 8.02; and notice of pro-ration shall be given to the tendering Holders pursuant to Section 8.04. (d) After the Issuer has deposited sufficient funds with the Trustee to repurchase the maximum amount of Bonds which it shall be obligated to repurchase hereunder, the Issuer shall not have any obligation or liability to any Holder purporting to tender Bonds for its refusal to repurchase any such Bonds.

Redemption at the Option of the Bondholders. (a) The Holders of the Bonds may tender Bonds or portions thereof to the Trustee for repurchase by the Issuer at a price of one hundred percent (100%) of the principal amount thereof plus accrued but unpaid interest to the date of payment for such repurchase; provided such tender is made at any time on or after January 2,1999December 31, 2002. Such tenders will be accepted by the Trustee on a first-come, first-served basis. The Issuer shall only be obligated to honor tenders in any one calendar year up to a total principal amount equal to ten percent (10%) of the Original Aggregate Outstanding Principal Amount, commencing with calendar 1999year 2003. All tenders received by the Trustee on the same Business Day shall be deemed to have been received simultaneously. In the event that tenders are received on a Business Day which, when added to all prior tenders exceed the obligation of the Issuer to honor such tenders, the Trustee shall notify the Issuer of the amount of such tenders. The Issuer shall have fifteen (15) days following such notice to either (i) agree in writing to honor all such tenders or (ii) advise the Trustee to pro-rate such tenders. If the Issuer shall not make an election in writing within the period provided, the Trustee shall pro-rate such tenders. (b) The Trustee shall give notice to the Issuer of all tenders for repurchase within five (5) Business Days after the Trustee’s 's receipt thereof. Provided that the Issuer shall not have previously repurchased the maximum principal amount of Bonds provided for by subsection (a) hereof, the Issuer shall have forty-five (45) days to deposit with the Trustee the outstanding principal amount of the Bond, Bonds or part of a Bond tendered for repurchase plus accrued but unpaid interest through and including the date of such deposit, at which time the Issuer’s 's obligation to pay, and the Bondholder’s 's right to receive, interest on such principal amount shall cease, provided that the Issuer shall have deposited the amount due within such forty-five (45) day period. Failure of the Issuer to make such deposit within the time permitted shall be an Event of Default under Article XIV hereof. (c) In the event that the Trustee is required to pro-rate excess Bonds tendered for repurchase, such pro-ration shall be performed as set forth in Section 8.02; and notice of pro-ration shall be given to the tendering Holders pursuant to Section 8.04. (d) After the Issuer has deposited sufficient funds with the Trustee to repurchase the maximum amount of Bonds which it shall be obligated to repurchase hereunder, the Issuer shall not have any obligation or liability to any Holder purporting to tender Bonds for its refusal to repurchase any such Bonds.

Redemption at the Option of the Bondholders. (a) The Holders of the Bonds may tender Bonds or portions thereof to the Trustee for repurchase by the Issuer at a price of one hundred percent (100%) of the principal amount thereof plus accrued but unpaid interest to the date of payment for such repurchase; provided such tender is made at any time on or after January 2,19991, 2001. Such tenders will be accepted by the Trustee on a first-come, first-served basis. The Issuer shall only be obligated to honor tenders in any one calendar year up to a total principal amount equal to ten percent (10%) of the Original Aggregate Outstanding Principal Amount, commencing with calendar 19992001. All tenders received by the Trustee on the same Business Day shall be deemed to have been received simultaneously. In the event that tenders are received on a Business Day which, when added to all prior tenders exceed the obligation of the Issuer to honor such tenders, the Trustee shall notify the Issuer of the amount of such tenders. The Issuer shall have fifteen (15) days following such notice to either (i) agree in writing to honor all such tenders or (ii) advise the Trustee to pro-rate such tenders. If the Issuer shall not make an election in writing within the period provided, the Trustee shall pro-rate such tenders. (b) The Trustee shall give notice to the Issuer of all tenders for repurchase within five (5) Business Days after the Trustee’s receipt thereof. Provided that the Issuer shall not have previously repurchased the maximum principal amount of Bonds provided for by subsection (a) hereof, the Issuer shall have forty-five (45) days to deposit with the Trustee the outstanding principal amount of the Bond, Bonds or part of a Bond tendered for repurchase plus accrued but unpaid interest through and including the date of such deposit, at which time the Issuer’s obligation to pay, and the Bondholder’s right to receive, interest on such principal amount shall cease, ; provided that the Issuer shall have deposited the amount due within such forty-five (45) day period. Failure of the Issuer to make such deposit within the time permitted shall be an Event of Default under Article XIV hereof. (c) In the event that the Trustee is required to pro-rate excess Bonds tendered for repurchase, such pro-ration shall be performed as set forth in Section 8.02; and notice of pro-ration shall be given to the tendering Holders pursuant to Section 8.04. (d) After the Issuer has deposited sufficient funds with the Trustee to repurchase the maximum amount of Bonds which it shall be obligated to repurchase hereunder, the Issuer shall not have any obligation or liability to any Holder purporting to tender Bonds for its refusal to repurchase any such Bonds.

Redemption at the Option of the Bondholders. (a) The Holders of the Bonds may tender Bonds or portions thereof to the Trustee for repurchase by the Issuer at a price of one hundred percent (100%) of the principal amount thereof plus accrued but unpaid interest to the date of payment for such repurchase; provided such tender is made at any time on or after January 2,19991, 1999 with respect to the 2010 Bonds and January 1, 2000 with respect to the 2015 Bonds. Such tenders will be accepted by the Trustee on a first-come, first-served basis. The Issuer shall only be obligated to honor tenders in any one calendar year up to a total principal amount equal to ten percent (10%) of the Original Aggregate Outstanding Principal Amount, commencing with calendar 19991999 with respect to the 2010 Bonds and 2000 with respect to the 2015 Bonds. All tenders received by the Trustee on the same Business Day shall be deemed to have been received simultaneously. In the event that tenders are received on a Business Day which, when added to all prior tenders exceed the obligation of the Issuer to honor such tenders, the Trustee shall notify the Issuer of the amount of such tenders. The Issuer shall have fifteen (15) days following such notice to either (i) agree in writing to honor all such tenders or (ii) advise the Trustee to pro-rate such tenders. If the Issuer shall not make an election in writing within the period provided, the Trustee shall pro-rate such tenders. (b) The Trustee shall give notice to the Issuer of all tenders for repurchase within five (5) Business Days after the Trustee’s 's receipt thereof. Provided that the Issuer shall not have previously repurchased the maximum principal amount of Bonds provided for by subsection (a) hereof, the Issuer shall have forty-five (45) days to deposit with the Trustee the outstanding principal amount of the Bond, Bonds or part of a Bond tendered for repurchase plus accrued but unpaid interest through and including the date of such deposit, at which time the Issuer’s 's obligation to pay, and the Bondholder’s 's right to receive, interest on such principal amount shall cease, provided that the Issuer shall have deposited the amount due within such forty-five (45) day period. Failure of the Issuer to make such deposit within the time permitted shall be an Event of Default under Article XIV hereof. (c) In the event that the Trustee is required to pro-rate excess Bonds tendered for repurchase, such pro-ration shall be performed as set forth in Section 8.02; and notice of pro-ration shall be given to the tendering Holders pursuant to Section 8.04. (d) After the Issuer has deposited sufficient funds with the Trustee to repurchase the maximum amount of Bonds which it shall be obligated to repurchase hereunder, the Issuer shall not have any obligation or liability to any Holder purporting to tender Bonds for its refusal to repurchase any such Bonds.