Common use of Redemption of the Junior Subordinated Debentures Clause in Contracts

Redemption of the Junior Subordinated Debentures. In the event that the Issuer exercises any right to redeem the Junior Subordinated Debentures in whole or in part, the Book-Entry Depositary, as holder of Junior Subordinated Debentures, shall, upon notice from the Issuer or the Trustee, as the case may be, surrender the Junior Subordinated Debentures at a place of payment or such other place as the Issuer may designate, and deliver such Junior Subordinated Debentures to the Trustee for cancellation or for reduction of principal amount by an endorsement on the reverse thereof or in exchange for a substitute Junior Subordinated Debenture, as the case may be.