Common use of Redemption Right, Obligation; Notice to Trustee Clause in Contracts

Redemption Right, Obligation; Notice to Trustee. (a) The Company, at its option, may redeem the Securities pursuant to paragraph 6 of the Securities, subject to paragraph (c) hereof. (b) If Penelec Capital redeems all or a portion of any series of Preferred Securities, the Company shall also redeem, pursuant to paragraph 6 of the Securities, all or a corresponding portion, as the case may be, of the series of Securities that Penelec Capital purchased with the proceeds from the sale of such series of Preferred Securities. The Company shall also redeem all outstanding Securities upon the dissolution of Penelec Capital, except in connection with a Distribution Event. (c) The Company may not redeem (or otherwise purchase) less than all of the Securities of any series if as a result of such partial redemption (or purchase) such series of the Securities would be delisted from any national securities exchange on which they are then listed, and in such case if the Company elects to redeem (or otherwise purchase) any of the Securities of such series, it shall redeem (or otherwise purchase) all of them. (d) Additional redemption terms for any series of Securities, other than the Series A Securities, shall be as specified in the supplemental indenture for such series. (e) If the Company elects or is required to redeem Securities of any series, it shall notify the Trustee in writing of the Redemption Date, the aggregate principal amount of Securities to be redeemed and the Redemption Price. The Company shall give such notice to the Trustee at least 45 days before the Redemption Date (unless a shorter notice shall be satisfactory to the Trustee).

Redemption Right, Obligation; Notice to Trustee. (a) The Company, at its option, may redeem the Securities pursuant to paragraph 6 of the Securities, subject to paragraph (c) hereof. (b) If Penelec Met-Ed Capital redeems all or a portion of any series of Preferred Securities, the Company shall also redeem, pursuant to paragraph 6 of the Securities, all or a corresponding portion, as the case may be, of the series of Securities that Penelec Met-Ed Capital purchased with the proceeds from the sale of such series of Preferred Securities. The Company shall also redeem all outstanding Securities upon the dissolution of Penelec Met-Ed Capital, except in connection with a Distribution Event. (c) The Company may not redeem (or otherwise purchase) less than all of the Securities of any series if as a result of such partial redemption (or purchase) such series of the Securities would be delisted from any national securities exchange on which they are then listed, and in such case if the Company elects to redeem (or otherwise purchase) any of the Securities of such series, it shall redeem (or otherwise purchase) all of them. If as a result of the redemption by Met-Ed Capital of any series of Preferred Securities, such series would be delisted from any national securities exchange on which such series is then listed, the Company shall also redeem all of the Securities that were purchased by Met-Ed Capital with the proceeds from the sale of such series of Preferred Securities. (d) Additional redemption terms for any series of Securities, other than the Series A Securities, shall be as specified in the supplemental indenture for such series. (e) If the Company elects or is required to redeem Securities pursuant to paragraph 6 of any seriesthe Securities, it shall notify the Trustee in writing of the Redemption Date, the aggregate principal amount of Securities to be redeemed and the Redemption Price. The Company shall give such notice to the Trustee at least 45 days before the Redemption Date (unless a shorter notice shall be satisfactory to the Trustee).

Redemption Right, Obligation; Notice to Trustee. (a) The Company, at its option, may redeem the Securities pursuant to paragraph 6 of the Securities, subject to paragraph (c) hereof. (b) If Penelec Met-Ed Capital redeems all or a portion of any series of Preferred Securities, the Company shall also redeem, pursuant to paragraph 6 of the Securities, all or a corresponding portion, as the case may be, of the series of Securities that Penelec Met-Ed Capital purchased with the proceeds from the sale of such series of Preferred Securities. The Company shall also redeem all outstanding Securities upon the dissolution of Penelec Met-Ed Capital, except in connection with a Distribution Event. (c) The Company may not redeem (or otherwise purchase) less than all of the Securities of any series if as a result of such partial redemption (or purchase) such series of the Securities would be delisted from any national securities exchange on which they are then listed, and in such case if the Company elects to redeem (or otherwise purchase) any of the Securities of such series, it shall redeem (or otherwise purchase) all of them. (d) Additional redemption terms for any series of Securities, other than the Series A Securities, shall be as specified in the supplemental indenture for such series. (e) If the Company elects or is required to redeem Securities of any series, it shall notify the Trustee in writing of the Redemption Date, the aggregate principal amount of Securities to be redeemed and the Redemption Price. The Company shall give such notice to the Trustee at least 45 days before the Redemption Date (unless a shorter notice shall be satisfactory to the Trustee).

Redemption Right, Obligation; Notice to Trustee. (a) The Company, at its option, may redeem the Securities pursuant to paragraph 6 of the Securities, subject to paragraph (c) hereof. (b) If Penelec Capital redeems all or a portion of any series of Preferred Securities, the Company shall also redeem, pursuant to paragraph 6 of the Securities, all or a corresponding portion, as the case may be, of the series of Securities that Penelec Capital purchased with the proceeds from the sale of such series of Preferred Securities. The Company shall also redeem all outstanding Securities upon the dissolution of Penelec Capital, except in connection with a Distribution Event. (c) The Company may not redeem (or otherwise purchase) less than all of the Securities of any series if as a result of such partial redemption (or purchase) such series of the Securities would be delisted from any national securities exchange on which they are then listed, and in such case if the Company elects to redeem (or otherwise purchase) any of the Securities of such series, it shall redeem (or otherwise purchase) all of them. If as a result of the redemption by Penelec Capital of any series of Preferred Securities, such series would be delisted from any national securities exchange on which such series is then listed, the Company shall also redeem all of the Securities that were purchased by Penelec Capital with the proceeds from the sale of such series of Preferred Securities. (d) Additional redemption terms for any series of Securities, other than the Series A Securities, shall be as specified in the supplemental indenture for such series. (e) If the Company elects or is required to redeem Securities pursuant to paragraph 6 of any seriesthe Securities, it shall notify the Trustee in writing of the Redemption Date, the aggregate principal amount of Securities to be redeemed and the Redemption Price. The Company shall give such notice to the Trustee at least 45 days before the Redemption Date (unless a shorter notice shall be satisfactory to the Trustee).