Common use of Optional Redemption Upon Tax Event Clause in Contracts

Optional Redemption Upon Tax Event. The Notes are redeemable at the option of the Company in whole but not in part, upon the occurrence of a tax event, the occurrence of which is confirmed by the opinion of nationally recognized independent tax counsel, within 90 calendar days of such tax event upon not less than 30 calendar days and not more than 60 calendar days prior written notice at a price of 100% of the principal amount to be redeemed, plus unpaid interest accrued to the redemption date. Sinking fund requirements: The debentures will not have the benefit of, or be subject to, any sinking fund. Listing requirements: Application will be made to list the debentures on the New York Stock Exchange.