Sterling Notes. With respect to the Called Principal of any Non-Swapped Note denominated in Sterling, the sum of (a) the Applicable Percentage plus (b) the yield to maturity implied by (A) the “Ask yield(s)” reported as of 10:00 a.m. (London time) on the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as “Page PXUK” (or such other display as may replace Page PXUK) on Bloomberg Financial Markets for the then most actively traded “on-the-run” UK Gilt securities (the “Reference Stock”) having a maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date or (B) if (i) Page PXUK on Bloomberg Financial Markets (or such other display as may replace Page PXUK) is not published on that day, or (ii) the calculation in Page PXUK ceases to be in keeping with the Formula for the Calculation of Redemption Yields indicated by the Joint Index and Classification Committee of the Faculty of Actuaries as reported in the Journal of the Institute of Actuaries Volume 105, Part I, 1978, page 18 (the “Formula”), the gross redemption yield calculated on the basis of the average of the yields for the Reference Stock having a maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date as reported by three authorized leading market makers in the gilt-edged market as at or about 11:00 a.m. London time on the second Business Day preceding the Settlement Date according to the Formula, selected by the Company and reasonably acceptable to the holders of more than 50% in principal amount of the Non-Swapped Notes denominated in Sterling (exclusive of Notes then owned by the Company and its Affiliates). Lineage Logistics, LLC Note Purchase Agreement Such implied yield (as determined in the foregoing paragraph) will be determined, if necessary, by (a) converting UK Gilt quotations to bond equivalent yields in accordance with accepted financial practice and (b) interpolating linearly between (1) the applicable UK Gilt security with the maturity closest to and greater than such Remaining Average Life and (2) the applicable UK Gilt security with the maturity closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of such Non-Swapped Note.
Sterling Notes. At any time prior to November 15, 2020, the Issuers may redeem the Sterling Notes, in whole or in part on any one or more occasions, upon giving not less than 10 nor more than 60 days’ notice to the Holders thereof, at a redemption price equal to 100% of the principal amount thereof, plus the Applicable Premium, plus accrued and unpaid interest, if any, to, but excluding, the redemption date (subject to the right of Holders of record on the relevant Record Date to receive interest due on the relevant interest payment date). At any time on or after November 15, 2020, the Issuers may redeem the Sterling Notes, in whole or in part on any one or more occasions, upon giving not less than 10 nor more than 60 days’ notice to the Holders thereof, at the redemption price set forth below (expressed as a percentage of the principal amount of the Sterling Notes to be redeemed), plus accrued and unpaid interest, if any, thereon, to, but excluding, the redemption date (subject to the right of Holders of record on the relevant Record Date to receive interest due on the relevant interest payment date), if redeemed during the twelve-month period commencing on November 15 of the years set out below: Year Percentage 2020 ............................................................................................................. 101.938% 2021 ............................................................................................................. 100.969% 2022 and thereafter ...................................................................................... 100.000% At any time prior to November 15, 2020, the Issuers may redeem up to 40% of the original principal amount of the Sterling Notes (calculated after giving effect to any issuance of Additional Sterling Notes) on any one or more occasions, upon giving not less than 10 nor more than 60 days’ notice to the Holders thereof, with the Net Cash Proceeds of one or more Equity Offerings at a redemption price of 103.875% of the principal amount thereof, plus accrued and unpaid interest, if any, thereon to, but excluding, the redemption date (subject to the right of Holders of record on the relevant Record Date to receive interest due on the relevant interest payment date); provided that:
