Common use of PARTIAL REDEMPTION OF REGISTERED SECURITY Clause in Contracts

PARTIAL REDEMPTION OF REGISTERED SECURITY. Upon surrender of any registered Security (including any Global Security) to be redeemed in part only, the Company shall execute and the Trustee shall authenticate and deliver to the registered owner thereof, without service charge, a new Security or Securities (or in the case of a Global Security, a new Global Security) of the same Series and maturity and of authorized denomination or denominations as requested by such registered owners, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered.

PARTIAL REDEMPTION OF REGISTERED SECURITY. Upon surrender of any registered Security (including any Global Security) to be redeemed in part only, the Company Corporation shall execute and the Trustee shall authenticate and deliver to the registered owner thereof, without service charge, a new Security or Securities (or in the case of a Global Security, a new Global Security) of the same Series and maturity and of authorized denomination or denominations as requested by such registered owners, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered.