Selection of Bonds for Redemption. Subject to the provisions of Section 301(c)(vi) if less than all of the Bonds are called for redemption, the Paying Agent shall select the Bonds or portions thereof to be redeemed, in such manner as in the Paying Agent's sole discretion it shall deem appropriate and fair. The Paying Agent shall promptly notify the Authority and the Company in writing of the Bonds or portions thereof selected for redemption; provided, however, that in connection with any redemption of Bonds the Paying Agent shall first select for redemption any Bonds held by the Tender Agent or the Remarketing Agent, if any for the account of the Company or held of record by the Company. If it is determined that one or more, but not all, of the portions of principal amount represented by any such Bond is to be called for redemption, then, upon notice of intention to redeem such portion or portions, the owner of such Bond shall forthwith surrender such Bond to the Paying Agent for (a) payment to such Bondowner of the redemption price of the portion or portions of principal amount called for redemption, and (b) delivery to such Bondowner of a new Bond or Bonds in the aggregate principal amount of the unredeemed balance of the principal amount of the Bond. New Bonds representing the unredeemed balance of the principal amount of such Bonds shall be issued to the owner thereof, without charge therefor. If the owner of any such Bond shall fail to present such Bond to the Paying Agent for payment and exchange as aforesaid, such Bond shall, nevertheless, become due and payable on the date fixed for redemption to the extent of the portion or portions of principal amount called for redemption (and to that extent only).
Selection of Bonds for Redemption. In the event that fewer than all Bonds subject to redemption are to be redeemed, Bonds shall be selected by the Trustee for redemption by lot. In the case of Bonds of varying Authorized Denominations, each Bond shall be treated as representing that number of Bonds which is obtained by dividing the face amount thereof by the minimum Authorized Denomination applicable to such Bond. In no event shall there remain outstanding in the name of any Owner, a Bond in an amount less than the minimum Authorized Denomination.
Selection of Bonds for Redemption. Bonds of any Series to be called for redemption shall be selected as provided in the Related Series Supplement. The Trustee shall treat each Bond of a denomination greater than the minimum denomination authorized in the Related Series Supplement as representing the number of separate Bonds that can be obtained by dividing the Bond's actual principal amount by such minimum denomination.
Selection of Bonds for Redemption. Whenever provision is made in this Indenture for the redemption of less than all of the Bonds, the Trustee shall select the Bonds to be redeemed from all Bonds not previously called for redemption (a) with respect to any optional redemption of Bonds of a Series, among maturities of Bonds of such Series as directed in a Written Request of the Community Facilities District, (b) with respect to any redemption pursuant to Section 4.01(b) and the corresponding provisions of any Supplemental Indenture pursuant to which Additional Bonds are issued, among maturities of all Series of Bonds on a pro rata basis as nearly as practicable, and (c) with respect to any other redemption of Additional Bonds, among maturities as provided in the Supplemental Indenture pursuant to which such Additional Bonds are issued, and by lot among Bonds of the same Series with the same maturity in any manner which the Trustee in its sole discretion shall deem appropriate. For purposes of such selection, all Bonds shall be deemed to be comprised of separate $5,000 denominations and such separate denominations shall be treated as separate Bonds which may be separately redeemed.
Selection of Bonds for Redemption. If less than all of the Bonds are called for redemption, such bonds shall be redeemed in inverse order of maturities or as otherwise directed by the District. If less than all of the Bonds of any given maturity are called for redemption, the portions of such bonds of a given maturity to be redeemed shall be determined by lot. For purposes of such selection, each Bond shall be deemed to consist of individual Bonds of denominations of $5,000 principal amount each, which may be separately redeemed.
Selection of Bonds for Redemption. If the Authority determines that less than all of the Series 2022 Bonds are to be called for optional or special mandatory redemption the amount, if any, of each maturity of Series 2022 Bonds to be so called for redemption shall be determined by the Authority, subject to the provisions of the Tax Certificate and Section 4.3. If less than all of any maturity of a Series of Series 2022 Bonds are to be called for optional or special mandatory redemption, the amount of Series 2022 Bonds of each maturity of such Series to be so called for redemption shall generally be determined according to a pro-rata method across sinking fund requirements taking into account all Series 2022 Bonds of such maturity of such Series as determined by the Administrator and accepted by the Authority. No Owner of any Bonds may contest the selection methodology accepted by the Authority. If less than all Series 2022 Bonds of any maturity of a Series are to be called for optional, special mandatory or mandatory redemption, the Bonds to be called will be selected by DTC or the Paying Agent in a manner which DTC or the Paying Agent determines to be appropriate and fair. In selecting Bonds for redemption the Paying Agent shall count as one Bond each increment of $5,000 of principal amount. If a Bond shall be called for partial redemption upon its surrender, a new Bond representing the unredeemed balance of the principal amount shall be issued to the Beneficial Owner of such Bond, unless otherwise provided for in the Bonds.
Selection of Bonds for Redemption. (a) The Trustee shall select Bonds subject to mandatory sinking fund redemption pursuant to Section 3.01(b)(v) hereof by lot within the appropriate maturity. If less than all the Bonds then Outstanding shall be called for redemption other than as a result of mandatory sinking fund redemption pursuant to Section 3.01(b)(v) hereof, the Trustee shall redeem an amount of Bonds so that the resulting decrease in debt service on the Bonds in each semiannual period ending on an Interest Payment Date is proportional, as nearly as practicable, to the decrease in the payments on the Bond Mortgage Note in each such semiannual period, and the Bonds shall be selected by lot within each maturity, the cost of such selection being at the Borrower’s expense.
(b) Bonds shall be redeemed pursuant to this Article III only in Authorized Denominations.
Selection of Bonds for Redemption. If less than all of the Bonds are called for redemption the Trustee shall select the Bonds or any given portion thereof to be redeemed, from the Outstanding Bonds or such given portion thereof not previously called for redemption, by lot. For the purpose of any such selection the Trustee shall assign a separate number for each minimum Authorized Denomination of each Bond of a denomination of more than such minimum; provided that, following any such selection, both the portion of such Bond to be redeemed and the portion remaining shall be in Authorized Denominations. The Trustee shall promptly notify the Issuer and the Company in writing of the numbers of the Bonds or portions thereof so selected for redemption.
Selection of Bonds for Redemption. If less than all of the Bonds are called for redemption, the Trustee shall select the Bonds or any given portion thereof to be redeemed from the Outstanding Bonds or such given portion thereof not previously called for redemption, by lot. For the purpose of any such selection the Trustee shall assign a separate number for each minimum Authorized Denomination of each Bond of a denomination of more than such minimum; provided that following any such selection, both the portion of such Bond to be redeemed and the portion remaining shall be in Authorized Denominations. The Trustee shall promptly notify the Authority and the Borrower in writing of the numbers of the Bonds or portions thereof so selected for redemption. Notwithstanding the foregoing, if less than all of the Bonds are to be redeemed at any time while the Bonds are Book-Entry Bonds, selection of the Bonds to be redeemed shall be made in accordance with customary practices of DTC or the applicable successor depository, as the case may be.
Selection of Bonds for Redemption. The Authority shall designate which maturities of Bonds and the principal amount of Bonds which are to be redeemed (other than Bonds subject to redemption pursuant to Section 4.03). If less than all Outstanding Bonds of the same Series maturing by their terms on any one date are to be redeemed at any one time, the Trustee shall select the Bonds of such maturity date to be redeemed by lot and shall promptly notify the Authority in writing of the numbers of the Bonds so selected for redemption. For purposes of such selection, Bonds shall be deemed to be composed of multiples of minimum Authorized Denominations and any such multiple may be separately redeemed. In the event Term Bonds are designated for redemption, the Authority may designate which sinking account payments are allocated to such redemption.
