Common use of Selection by Trustee of Senior Notes to Be Redeemed Clause in Contracts

Selection by Trustee of Senior Notes to Be Redeemed. The Trustee shall select the Senior Notes to be redeemed, if the Senior Notes are then listed on a national securities exchange, in accordance with the rules of such exchange or, if the Senior Notes are not so listed, either on a pro rata basis or by lot, or such other method as the Trustee in its sole discretion shall deem fair and appropriate; provided that, in the case of a redemption pursuant to paragraph 5 and 7 of the Senior Notes, the Trustee shall select the Senior Notes only on a pro rata basis or on as nearly a pro rata basis as is practicable (subject to procedures of the Depository). The Trustee shall promptly notify the Company of the Senior Notes selected for redemption and, in the case of any Senior Notes selected for partial redemption, the principal amount thereof to be redeemed. The Trustee may select for redemption portions of the principal of the Senior Notes that have denominations larger than $1,000. Senior Notes and portions thereof the Trustee selects shall be redeemed in amounts of $1,000 or whole multiples of $1,000. For all purposes of this Indenture unless the context otherwise requires, provisions of this Indenture that apply to Senior Notes called for redemption also apply to portions of Senior Notes called for redemption. In the event the Company is requested to make a Change of Control Offer or Offer to Purchase and the amounts available for any such offer is not evenly divisible by $1,000, the Trustee shall promptly refund to the Company any remaining funds, which in no event shall exceed $1,000.

Appears in 2 contracts

Samples: Indenture (Donnelley R H Inc), Donnelley R H Inc

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Selection by Trustee of Senior Notes to Be Redeemed. The Trustee shall select If less than all of the Senior Notes are to be redeemed, the particular Senior Notes or portions thereof to be redeemed shall be selected not more than 60 days and not less than 30 days prior to the Redemption Date by the Trustee, from the Outstanding Senior Notes not previously called for redemption on a pro rata basis, by lot or by any other method the Trustee shall deem fair and appropriate and in compliance with the requirements of such principal national securities exchange, if any, on which the Senior Notes are then listed on a national securities exchange, in accordance with the rules of such exchange or, if the Senior Notes are not so listed, either on a pro rata basis basis, by lot or by lot, or such any other method as the Trustee in its sole discretion shall deem fair and appropriate; , provided that, in that the case of a redemption pursuant amounts to paragraph 5 and 7 of the Senior Notes, the Trustee be redeemed shall select the Senior Notes only on a pro rata basis be equal to $1,000 or on as nearly a pro rata basis as is practicable (subject to procedures of the Depository)any integral multiple thereof. The Trustee shall promptly notify the Company Issuer and the Senior Note Registrar in writing of the Senior Notes selected for redemption and, in the case of any Senior Notes selected for partial redemption, the principal amount thereof to be redeemed. The Trustee may select for redemption portions of the principal of the Senior Notes that have denominations larger than $1,000. Senior Notes and portions thereof the Trustee selects shall be redeemed in amounts of $1,000 or whole multiples of $1,000. For all purposes of this Indenture Indenture, unless the context otherwise requires, all provisions of this Indenture that apply relating to Senior Notes called for redemption also apply to portions of Senior Notes called for redemption. In shall relate, in the event the Company is requested case of any Senior Note redeemed or to make a Change of Control Offer or Offer to Purchase and the amounts available for any such offer is not evenly divisible by $1,000be redeemed only in part, the Trustee shall promptly refund to the Company any remaining funds, portion of the principal amount of such Senior Note which in no event shall exceed $1,000has been or is to be redeemed.

Appears in 2 contracts

Samples: Indenture (Markel Corp), Indenture (Markel Corp)

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