Common use of Selection of Bonds for Redemption Clause in Contracts

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. Subject to the provisions of Section 301(c)(vi) if If less than all of the Bonds are called for redemption, the Paying Agent Trustee shall select the Bonds or portions thereof to be redeemed, from the Bonds Outstanding not previously called for redemption, by lottery or in such other manner as in the Paying Agent's Trustee’s sole discretion it shall deem appropriate and fair, in either case in Authorized Denominations provided that Bank Bonds and Liquidity Provider Bonds shall be the first Bonds selected for redemption, and provided further that the aggregate principal amount of each Bond remaining Outstanding following such redemption shall be in an Authorized Denomination. The Paying Agent Trustee shall promptly notify the Authority Issuer and the Company Borrower in writing of the Bonds or portions thereof selected for redemption; , provided, however, that in connection with any redemption of Bonds the Paying Agent Trustee shall first select for redemption any Bonds held by the Tender Agent or the Remarketing Agent, if any Trustee for the account of the Company Borrower or held of record by the CompanyBorrower prior to any Bonds other than Bank Bonds or Liquidity Provider Bonds. If, as indicated in a certificate of an Authorized Borrower Representative delivered to the Trustee, the Borrower shall have offered to purchase all Bonds then outstanding and less than all such Bonds shall have been tendered to the Borrower for such purchase, the Trustee, at the direction of the Borrower, shall select for redemption all such Bonds regardless of whether such Bonds have been so tendered. If it is determined that one or more, but not all, of the portions units of principal amount represented by any such Bond is to be called for redemption, then, upon notice of intention to redeem such portion unit or portionsunits, the owner Owner of such Bond shall shall, except as provided in Section 2.13 hereof with respect to Book-Entry Bonds, forthwith surrender such Bond to the Paying Agent Trustee for (a) payment to such Bondowner Owner of the redemption price of the portion unit or portions units of principal amount called for redemption, and (b) delivery to such Bondowner Owner of a new Bond or Bonds in the aggregate principal amount of the unredeemed balance of the principal amount of the such Bond. New Bonds representing the unredeemed balance of the principal amount of such Bonds Bond shall be issued to the owner 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).charge

Selection of Bonds for Redemption. Subject to the provisions of Section 301(c)(vi) if If less than all of the Bonds are called for redemption, the Paying Agent Trustee shall select the Bonds or portions thereof to be redeemed, from the Bonds Outstanding not previously called for redemption, by lottery or in such other manner as in the Paying Agent's Trustee’s sole discretion it shall deem appropriate and fair, in either case in Authorized Denominations provided that Bank Bonds and Liquidity Provider Bonds shall be the first Bonds selected for redemption, and provided further that the aggregate principal amount of each Bond remaining Outstanding following such redemption shall be in an Authorized Denomination. The Paying Agent Trustee shall promptly notify the Authority Issuer and the Company Borrower in writing of the Bonds or portions thereof selected for redemption; , provided, however, that in connection with any redemption of Bonds the Paying Agent Trustee shall first select for redemption any Bonds held by the Tender Agent or the Remarketing Agent, if any Trustee for the account of the Company Borrower or held of record by the CompanyBorrower prior to any Bonds other than Bank Bonds or Liquidity Provider Bonds. If, as indicated in a certificate of an Authorized Borrower Representative delivered to the Trustee, the Borrower shall have offered to purchase all Bonds then outstanding and less than all such Bonds shall have been tendered to the Borrower for such purchase, the Trustee, at the direction of the Borrower, shall select for redemption all such Bonds regardless of whether such Bonds have been so tendered. If it is determined that one or more, but not all, of the portions units of principal amount represented by any such Bond is to be called for redemption, then, upon notice of intention to redeem such portion unit or portionsunits, the owner Owner of such Bond shall shall, except as provided in Section 2.13 hereof with respect to Book-Entry Bonds, forthwith surrender such Bond to the Paying Agent Trustee for (a) payment to such Bondowner Owner of the redemption price of the portion unit or portions units of principal amount called for redemption, and (b) delivery to such Bondowner Owner of a new Bond or Bonds in the aggregate principal amount of the unredeemed balance of the principal amount of the such Bond. New Bonds representing the unredeemed balance of the principal amount of such Bonds Bond shall be issued to the owner Owner thereof, without charge therefor. If the owner surrender of such Bonds is required hereunder and the Owner of any such Bond shall fail to present such Bond to the Paying Agent Trustee for payment and exchange as aforesaid, such Bond shall, nevertheless, become due and payable payable, and interest thereon shall cease to accrue, on the date fixed for redemption to the extent of the portion unit or portions units of principal amount called for redemption (and to that extent only). Payment of the redemption price by the Borrower for any Bonds called for redemption constitutes full and complete payment of such Bonds.

Selection of Bonds for Redemption. Subject to the provisions of Section 301(c)(vi) if If less than all of the Bonds of any Series are called for redemption, the Paying Agent Trustee shall select the Bonds of such Series or portions thereof to be redeemed, from the Bonds of such Series Outstanding not previously called for redemption, by lottery or in such other manner as in the Paying AgentTrustee's sole discretion it shall deem appropriate and fair, in either case in Authorized Denominations provided that Liquidity Provider Bonds shall be the first Bonds selected for redemption and provided further that the aggregate principal amount of each Bond remaining Outstanding following such redemption shall be in an Authorized Denomination. The Paying Agent Trustee shall promptly notify the Authority Issuer and the Company Borrower in writing of the Bonds or portions thereof selected for redemption; , provided, however, that in connection with any redemption of Bonds the Paying Agent Trustee shall first select for redemption any Bonds held by the Tender Agent or the Remarketing Agent, if any Trustee for the account of the Company Borrower or held of record by the CompanyBorrower prior to any Bonds other than Liquidity Provider Bonds. If, as indicated in a certificate of an Authorized Borrower Representative delivered to the Trustee, the Borrower shall have offered to purchase all Bonds of such Series then outstanding and less than all such Bonds of such Series shall have been tendered to the Borrower for such purchase, the Trustee, at the direction of the Borrower, shall select for redemption all such Bonds of such Series regardless of whether such Bonds have been so tendered. If it is determined that one or more, but not all, of the portions units of principal amount represented by any such Bond is to be called for redemption, then, upon notice of intention to redeem such portion unit or portionsunits, the owner Owner of such Bond shall shall, except as provided in Section 2.13 hereof with respect to Book-Entry Bonds, forthwith surrender such Bond to the Paying Agent Trustee for (a) payment to such Bondowner Owner of the redemption price of the portion unit or portions units of principal amount called for redemption, and (b) delivery to such Bondowner Owner of a new Bond or Bonds in the aggregate principal amount of the unredeemed balance of the principal amount of the such Bond. New Bonds representing the unredeemed balance of the principal amount of such Bonds Bond shall be issued to the owner Owner thereof, without charge therefor. If the owner surrender of such Bonds is required hereunder and the Owner of any such Bond shall fail to present such Bond to the Paying Agent Trustee for payment and exchange as aforesaid, such Bond shall, nevertheless, become due and payable payable, and interest thereon shall cease to accrue, on the date fixed for redemption to the extent of the portion unit or portions units of principal amount called for redemption (and to that extent only). Payment of the redemption prices by the Borrower for any Series of Bonds called for redemption constitutes full and complete payment of the Bonds of such Series.

Selection of Bonds for Redemption. Subject to the provisions of Section 301(c)(vi) if If less than all of the Bonds of any Series are called for redemption, the Paying Agent Trustee shall select the Bonds of such Series or portions thereof to be redeemed, from the Bonds of such Series Outstanding not previously called for redemption, by lottery or in such other manner as in the Paying Agent's Trustee’s sole discretion it shall deem appropriate and fair, in either case in Authorized Denominations provided that Bank Bonds and Liquidity Provider Bonds shall be the first Bonds selected for redemption, and provided further that the aggregate principal amount of each Bond remaining Outstanding following such redemption shall be in an Authorized Denomination. The Paying Agent Trustee shall promptly notify the Authority Issuer and the Company Borrower in writing of the Bonds or portions thereof selected for redemption; , provided, however, that in connection with any redemption of Bonds the Paying Agent Trustee shall first select for redemption any Bonds held by the Tender Agent or the Remarketing Agent, if any Trustee for the account of the Company Borrower or held of record by the CompanyBorrower prior to any Bonds other than Bank Bonds or Liquidity Provider Bonds. If, as indicated in a certificate of an Authorized Borrower Representative delivered to the Trustee, the Borrower shall have offered to purchase all Bonds of such Series then outstanding and less than all such Bonds of such Series shall have been tendered to the Borrower for such purchase, the Trustee, at the direction of the Borrower, shall select for redemption all such Bonds of such Series regardless of whether such Bonds have been so tendered. If it is determined that one or more, but not all, of the portions units of principal amount represented by any such Bond is to be called for redemption, then, upon notice of intention to redeem such portion unit or portionsunits, the owner Owner of such Bond shall shall, except as provided in Section 2.13 hereof with respect to Book-Entry Bonds, forthwith surrender such Bond to the Paying Agent Trustee for (a) payment to such Bondowner Owner of the redemption price of the portion unit or portions units of principal amount called for redemption, and (b) delivery to such Bondowner Owner of a new Bond or Bonds in the aggregate principal amount of the unredeemed balance of the principal amount of the such Bond. New Bonds representing the unredeemed balance of the principal amount of such Bonds Bond shall be issued to the owner Owner thereof, without charge therefor. If the owner surrender of such Bonds is required hereunder and the Owner of any such Bond shall fail to present such Bond to the Paying Agent Trustee for payment and exchange as aforesaid, such Bond shall, nevertheless, become due and payable payable, and interest thereon shall cease to accrue, on the date fixed for redemption to the extent of the portion unit or portions units of principal amount called for redemption (and to that extent only). Payment of the redemption prices by the Borrower for any Series of Bonds called for redemption constitutes full and complete payment of the Bonds of such Series.

Selection of Bonds for Redemption. Subject to the provisions of Section 301(c)(viExcept as otherwise provided in a Supplemental Indenture: (a) if If less than all of the Bonds of any Series are called for redemption and if the Bonds of such Series shall mature on more than one date, the Bonds of such Series shall be redeemed from the Outstanding Bonds of such Series in inverse order of maturities. (b) If less than all of the Bonds of any Series maturing on any single date are called for redemption, the Paying Agent Trustee shall select the Bonds or portions thereof to be redeemed, from the Outstanding Bonds of such Series maturing on that date not previously called for redemption, in such manner as in the Paying Agent's Trustee’s sole discretion it shall deem appropriate and fair; provided, however, that subject to other applicable provisions of the Indenture or of any Supplemental Indenture, the portion of any Bond to be redeemed shall be in a Principal amount equal to a denomination in which Bonds of such Series are authorized to be issued. In selecting Bonds for redemption the Trustee shall treat each Bond as representing the number of Bonds which is obtained by dividing the Principal amount of each Bond by the minimum denomination in which such Series of Bonds is authorized to be issued. If part but not all of a Bond shall be selected for redemption, the Holder thereof or his attorney or legal representative shall present and surrender such Bond to the Trustee for payment of the Principal amount thereof so called for redemption and the redemption premium, if any, on such Principal amount. The Paying City shall execute and the Trustee or any Transfer Agent shall authenticate and deliver to or upon the order of such Holder or his legal representative, without charge therefor, a Bond or Bonds of the same maturity and bearing interest at the same rate as the Bond so surrendered for the unredeemed portion of the surrendered Bond. The Trustee shall promptly notify the Authority and the Company City 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. Subject to In the provisions of Section 301(c)(vi) if less event that fewer than all of the Bonds subject to redemption are called for redemption, the Paying Agent shall select the Bonds or portions thereof to be redeemed, in such manner as Bonds shall be selected for redemption in the Paying Agent's sole discretion it following manner; provided that the Bonds that remain Outstanding shall deem appropriate and fair. The Paying Agent shall promptly notify be in Authorized Denominations: (a) If Bonds are subject to special mandatory redemption pursuant to Section 2.6(b) or extraordinary optional redemption pursuant to Section 2.6(c), or if the Authority Bonds are subject to optional redemption pursuant to Section 2.6(a) and the Company Borrower notifies the Trustee that such redemption relates to a specific Project (as described in writing of the Exhibit A hereto), Bonds or portions thereof shall be selected for redemption; provided, howeverby lot, from one or more Subseries that in connection with any relates to such Project. If more than one Subseries relates to such Project, the Bonds to be redeemed shall be selected on a pro rata basis among each such Subseries and by lot within a Subseries. (b) If the Bonds are subject to optional redemption of pursuant to Section 2.6(a) and the Borrower does not notify the Trustee that such redemption relates to a specific Project. Bonds the Paying Agent shall first select be selected for redemption any Bonds held by the Tender Agent or the Remarketing AgentTrustee, if any for the account of the Company or held on a pro rata basis among all Subseries, and by lot within a Subseries, first, from Bonds subject to such redemption (other than Bonds owned of record by the CompanyBorrower), and, second, from Bonds owned of record by the Borrower subject to such redemption; provided that, upon any optional or extraordinary optional redemption, at the Borrower's direction (and for so long as no Event of Default then exists), Pledged Bonds, if any, shall be redeemed first. (c) In the case of Bonds of varying denominations, the Trustee shall, to the extent practicable, treat each Bond as representing that number of units of Bonds which is obtained by dividing the face amount thereof by the smallest Authorized Denomination. If it is determined that one or more, but not all, of the portions units of principal amount represented by any such Bond is to be called for redemption, then, then upon notice of intention to redeem such portion unit or portionsunits of principal, the owner Bondholder of such Bond shall forthwith surrender such Bond to the Paying Agent Trustee for (ai) payment to such Bondowner Bondholder of the redemption price of the portion unit or portions units of principal amount its Bond called for redemption, redemption and (bii) delivery to such Bondowner Bondholder of a new Bond or Bonds in the an aggregate principal amount of equal to the unredeemed balance of the principal amount of the such 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).the

Selection of Bonds for Redemption. Subject to the provisions of Section 301(c)(vi) if If less than all of the Bonds are called for redemption, the Paying Agent they shall select the Bonds or portions thereof to be redeemed, redeemed [from maturities in such manner order as in determined by the Paying Agent's sole discretion it shall deem appropriate [Borrower/Issuer] [proportionately by maturity], and fair. The Paying Agent shall promptly notify the Authority and the Company in writing of the Bonds or portions thereof selected for redemption; by lot within any maturity (provided, however, that if an Event of Default has occurred and is continuing any Bonds called for redemption shall be redeemed in connection with proportion by maturity and within maturities by lot), subject to selection by the Trustee as provided below. The portion of any redemption Bond to be redeemed shall be an Authorized Denomination or any multiple thereof and in selecting Bonds for redemption, each Bond shall be considered as representing that number of Bonds which is obtained by dividing the Paying Agent shall first select for redemption any Bonds held principal amount of such Bond by the Tender Agent or the Remarketing Agent, if any for the account of the Company or held of record by the Companyminimum Authorized Denomination. If it is determined that one or more, but not all, a portion of the portions of principal amount represented by any such a Bond is to shall 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 equal to the unredeemed balance of the principal amount of the Bond. New Bonds representing the unredeemed balance of the principal amount of such Bonds portion thereof shall be issued to the owner Bondholder upon the surrender thereof, without charge therefor. If for any reason the owner principal amount 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 Bonds called for redemption would result in a redemption of Bonds less than the Authorized Denomination, the Trustee, to the extent of possible within the portion or portions of principal amount called of Bonds to be redeemed, is hereby authorized to adjust the selection of Bonds for such purpose in order to minimize any such redemption. Notwithstanding the foregoing, the Securities Depository for Book Entry Bonds shall select the Bonds for redemption (and within particular maturities according to that extent only)its stated procedures.

Selection of Bonds for Redemption. Subject to the provisions of Section 301(c)(vi) if If less than all of the Bonds are called for redemption, the Paying Agent Trustee shall select the Bonds or portions thereof to be redeemed, from the Bonds Outstanding not previously called for redemption, by lottery or in such other manner as in the Paying Agent's Trustee’s sole discretion it shall deem appropriate and fair, in either case in Authorized Denominations provided that Bank Bonds and Liquidity Provider Bonds shall be the first Bonds selected for redemption, and provided further that the aggregate principal amount of each Bond remaining Outstanding following such redemption shall be in an Authorized Denomination. The Paying Agent Trustee shall promptly notify the Authority Issuer and the Company Borrower in writing of the Bonds or portions thereof selected for redemption; , provided, however, that in connection with any redemption of Bonds the Paying Agent Trustee shall first select for redemption any Bonds held by the Tender Agent or the Remarketing Agent, if any Trustee for the account of the Company Borrower or held of record by the CompanyBorrower prior to any Bonds other than Bank Bonds or Liquidity Provider Bonds. If, as indicated in a certificate of an Authorized Borrower Representative delivered to the Trustee, the Borrower shall have offered to purchase all Bonds then outstanding and less than all such Bonds shall have been tendered to the Borrower for such purchase, the Trustee, at the direction of the Borrower, shall select for redemption all such Bonds regardless of whether such Bonds have been so tendered. If it is determined that one or more, but not all, of the portions units of principal amount represented by any such Bond is to be called for redemption, then, upon notice of intention to redeem such portion unit or portionsunits, the owner Owner of such Bond shall shall, except as provided in Section 2.13 hereof with respect to Book-Entry Bonds, forthwith surrender such Bond to the Paying Agent Trustee for (a) payment to such Bondowner Owner of the redemption price of the portion unit or portions units of principal amount called for redemption, and (b) delivery to such Bondowner Owner of a new Bond or Bonds in the aggregate principal amount of the unredeemed balance of the principal amount of the such Bond. New Bonds representing the unredeemed balance of the principal amount of such Bonds Bond shall be issued to the owner Owner thereof, without charge therefor. If the owner 37 surrender of such Bonds is required hereunder and the Owner of any such Bond shall fail to present such Bond to the Paying Agent Trustee for payment and exchange as aforesaid, such Bond shall, nevertheless, become due and payable payable, and interest thereon shall cease to accrue, on the date fixed for redemption to the extent of the portion unit or portions units of principal amount called for redemption (and to that extent only). Payment of the redemption price by the Borrower for any Bonds called for redemption constitutes full and complete payment of such Bonds. ARTICLE IV TENDER AND PURCHASE OF BONDS; REMARKETING; REMARKETING AGENT Section 4.01.

Selection of Bonds for Redemption. Subject to the provisions of Section 301(c)(vi) if If less than all of the Bonds are called for redemption, the Paying Agent Trustee shall select the Bonds or portions thereof to be redeemed, from the Bonds Outstanding not previously called for redemption, by lottery or in such other manner as in the Paying Agent's Trustee’s sole discretion it shall deem appropriate and fair, in either case in Authorized Denominations provided that Bank Bonds and Liquidity Provider Bonds shall be the first Bonds selected for redemption, and provided further that the aggregate principal amount of each Bond remaining Outstanding following such redemption shall be in an Authorized Denomination. The Paying Agent Trustee shall promptly notify the Authority Issuer and the Company Borrower in writing of the Bonds or portions thereof selected for redemption; , provided, however, that in connection with any redemption of Bonds the Paying Agent Trustee shall first select for redemption any Bonds held by the Tender Agent or the Remarketing Agent, if any Trustee for the account of the Company Borrower or held of record by the CompanyBorrower prior to any Bonds other than Bank Bonds or Liquidity Provider Bonds. If, as indicated in a certificate of an Authorized Borrower Representative delivered to the Trustee, the Borrower shall have offered to purchase all Bonds then outstanding and less than all such Bonds shall have been tendered to the Borrower for such purchase, the Trustee, at the direction of the Borrower, shall select for redemption all such Bonds regardless of whether such Bonds have been so tendered. If it is determined that one or more, but not all, of the portions units of principal amount represented by any such Bond is to be called for redemption, then, upon notice of intention to redeem such portion unit or portionsunits, the owner Owner of such Bond shall shall, except as provided in Section 2.13 hereof with respect to Book-Entry Bonds, forthwith surrender such Bond to the Paying Agent Trustee for (a) payment to such Bondowner Owner of the redemption price of the portion unit or portions units of principal amount called for redemption, and (b) delivery to such Bondowner Owner of a new Bond or Bonds in the aggregate principal amount of the unredeemed balance of the principal amount of the such Bond. New Bonds representing the unredeemed balance of the principal amount of such Bonds Bond shall be issued to the owner Owner thereof, without charge therefor. If the owner surrender of such Bonds is required hereunder and the Owner of any such Bond shall fail to present such Bond to the Paying Agent Trustee for payment and exchange as aforesaid, such Bond shall, nevertheless, become due and payable payable, and interest thereon shall cease to accrue, on the date fixed for redemption to the extent of the portion unit or portions units of principal amount called for redemption (and to that extent only). Payment of the redemption prices by the Borrower for any Bonds called for redemption constitutes full and complete payment of such Bonds.

Selection of Bonds for Redemption. Subject to the provisions of Section 301(c)(vi) if If less than all of the Bonds are shall be called for redemption under any provision of this Indenture permitting such partial redemption, (i) such redemption shall be by lot in such manner as the Trustee may determine among such Bonds, and (ii) subject to other applicable provisions of this Indenture, the portion of any Bond to be redeemed shall be in a principal amount equal to an Authorized Denomination. In selecting Bonds for redemption, the Paying Agent Trustee shall assign to each Bond of like Maturity Date and interest rate, a distinctive number for each minimum Authorized Denomination of such Bond and shall select by lot from the numbers so assigned as many numbers as, at such minimum Authorized Denomination for each number, shall equal the principal amount of such Bonds or portions thereof to be redeemed. In such case, in such manner as in the Paying Agent's sole discretion it Bonds to be redeemed shall deem appropriate and fair. The Paying Agent shall promptly notify the Authority and the Company in writing be those to which were assigned numbers so selected; provided that only so much of the Bonds or portions thereof selected principal amount of each Bond shall be redeemed as shall equal such minimum Authorized Denomination 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 Companyeach number assigned to it and so selected. If it is determined that one or more, but not all, of the portions integral multiples of the Authorized Denomination of principal amount represented by any such Bond is to be called for redemption, then, upon notice of intention to redeem such portion or portionsintegral multiple of an Authorized Denomination, the owner Registered Owner of such Bond shall forthwith surrender such Bond to the Paying Agent Trustee for (a) payment to such Bondowner Registered Owner of the redemption price Redemption Price of the portion or portions integral multiple of the Authorized Denomination of principal amount called for redemption, and (b) delivery to such Bondowner Registered Owner of a new Bond or Bonds in the aggregate principal amount of the unredeemed balance of the principal amount of the such Bond. New Bonds representing the unredeemed balance of the principal amount of such Bonds Bond shall be issued to the owner thereof, Registered Owner thereof without charge therefor. If The Trustee shall promptly notify the owner City in writing of the Bonds, or portions thereof, selected for redemption and, in the case of any such Bond shall fail to present such Bond to selected for partial redemption, 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 (thereof, and the interest rate thereof to that extent only)be redeemed.