Common use of Selection and Notice Clause in Contracts

Selection and Notice. In the case of any partial redemption, the Company will select the Notes for redemption in accordance with the requirements of the principal national securities exchange, if any, on which the Notes are listed or, if the Notes are not listed on a securities exchange, the Trustee will select the Notes on a pro rata basis to the extent practicable, although no Note in original principal amount of $2,000 or less shall be redeemed in part. If any new Note is to be redeemed in part only, the notice of redemption relating to such Note shall state the portion of the principal amount thereof to be redeemed. A new Note in principal amount equal to the unredeemed portion thereof will be issued in the name of the holder thereof upon cancellation of the original Note. Notes called for redemption become due on the date fixed for redemption. On and after the redemption date, interest ceases to accrue on Notes or portions of them called for redemption.

Appears in 2 contracts

Samples: Supplemental Indenture (Terex Corp), Supplemental Indenture (Terex Corp)

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Selection and Notice. In the case If less than all of any partial redemption, the Company will select the Notes for redemption in accordance with the requirements of the principal national securities exchange, if any, on which the Notes are listed or, if the Notes are not listed on a securities exchangeto be redeemed at any time, the Trustee will select the Notes for redemption on a pro rata basis to or by lot of such similar method (and in the extent practicablecase of Global Notes, although in accordance with the procedures of DTC), unless otherwise required by law or applicable stock exchange requirements; provided, that no Note in original principal amount Notes of $2,000 or less shall be purchased or redeemed in part. If any new Note is to be redeemed in part only, the notice of redemption relating that relates to such that Note shall will state the portion of the principal amount thereof of that Note that is to be redeemed. A new Note in principal amount equal to the unpurchased or unredeemed portion thereof of the original Note purchased or redeemed in part will be issued in the name of the holder thereof Holder of such Notes upon cancellation of the original Note. Notes called for redemption become due on the date fixed for redemption. On and after the redemption date, interest ceases to accrue on Notes or portions of them Notes called for redemption.

Appears in 2 contracts

Samples: Indenture (Saratoga Resources Inc /Tx), Indenture (Saratoga Resources Inc /Tx)

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Selection and Notice. (a) In the case of any partial redemption, the Company will select the Notes for redemption in accordance with the requirements of the principal national securities exchange, if any, on which the Notes are listed or, if the Notes are not listed on a securities exchange, the Trustee will select the Notes on a pro rata basis to the extent practicable, although no Note in original principal amount of $2,000 or less shall be redeemed in part. If any new Note is to be redeemed in part only, the notice of redemption relating to such Note shall state the portion of the principal amount thereof to be redeemed. A new Note in principal amount equal to the unredeemed portion thereof will be issued in the name of the holder thereof upon cancellation of the original Note. Notes called for redemption become due on the date fixed for redemption. On and after the redemption date, interest ceases to accrue on Notes or portions of them called for redemption.

Appears in 1 contract

Samples: Fourth Supplemental Indenture (Terex Corp)

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