Common use of Partial Redemption Clause in Contracts

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to under Section 4.62.2(d), the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to the approval of any the Toronto TSXV or any other Recognized Stock Exchange or such other exchange on which the Debentures are then listedExchange, if any, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Trustee shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if the Corporation shall, at least 15 days before the date upon which the Redemption Notice is to be given, notify the Trustee by a portion Written Direction of the Debentures being redeemed are being redeemed for cash and a portion Corporation of its intention to redeem such Debentures are being redeemed by and of the payment aggregate principal amount of Freely Tradeable Common Shares pursuant Debentures to Section 4.6, the be redeemed. The Debentures to be so redeemed shall be selected by the Trustees Trustee (i) on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder holder, or (ii) by lot in such other manner as the Trustees Trustee deems equitable, subject to the any required approval of the Toronto Stock Exchange TSX, the TSX-V or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no No Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued but unpaid to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemedsurrendered. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Debenture Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Debenture Trustee deems equitable, subject to the approval of the Toronto Stock Exchange TSX or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no No Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption in part or for redemption in cash and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with with, if accrued interest is not included in the Redemption Price, interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Debenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “"Debenture” " or “"Debentures” " as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Debenture Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Debenture Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to timeExchange. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation Trust shall execute and the Trustees Debenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “"Debenture” " or “"Debentures” " as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if the Corporation shall, at least 15 days before the date upon which the Redemption Notice is to be given, notify the Trustee by a portion Written Direction of the Debentures being redeemed are being redeemed for cash and a portion Corporation of its intention to redeem such Debentures are being redeemed by and of the payment aggregate principal amount of Freely Tradeable Common Shares pursuant Debentures to Section 4.6, the be redeemed. The Debentures to be so redeemed shall be selected by the Trustees Trustee (i) on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder holder, or (ii) by lot in such other manner as the Trustees Trustee deems equitable, subject to the any required approval of the Toronto Stock Exchange exchange or such other exchange market on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no No Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued but unpaid to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemedsurrendered. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Tradable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Debenture Agent on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Debenture Agent deems equitable, subject to the approval of the Toronto Stock Exchange TSX-V or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Debenture Agent may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption in part or for redemption in cash and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Debenture Agent shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, then the Debentures to be so redeemed shall will be selected by the Trustees Debenture Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Debenture Trustee deems equitable, subject to the approval of the Toronto Stock Exchange TSXV (or such other stock exchange on which the Debentures are then listedmay be listed and posted for trading), as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no No Debenture shall will be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption in part or for redemption in cash and regulations so made shall will be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall will execute and the Trustees shall Debenture Trustee will certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees shall make Debenture Trustee, will make, or have made, notations on the Global Debenture (or in the case of an uncertificated Global Debenture, in accordance with the Debenture Trustee’s Internal Procedures) of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be is deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so will redeemed shall be selected by the Trustees Corporation on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to timeholder. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with accrued and unpaid interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Debenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemedredeemed which notation shall be authenticated by the Debenture Trustee. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures Debt Securities of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures Debt Securities to be so redeemed shall be selected by the Trustees on Indenture Trustee pro rata, or by lot or by a pro rata basis to the nearest multiple of $1,000 in accordance method that complies with the principal amount of applicable legal and securities exchange requirements, if any, and that the Debentures registered Indenture Trustee in its sole discretion considers fair and appropriate. The Indenture Trustee shall make the name of each holder or in such other manner as the Trustees deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required selection from time to timeoutstanding Debt Securities not previously called for redemption. Unless otherwise specifically provided in the terms of any series of DebenturesDebt Securities, no Debenture Debt Security shall be redeemed in part unless the principal amount redeemed is $1,000 (or such amount as required by the applicable clearing house) or a whole multiple of $1,000 in excess thereof. For this purpose, the Trustees Indenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures Debt Securities may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures Debt Securities notwithstanding that as a result thereof one or more of such Debentures Debt Securities may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures Debt Securities becomes subject to redemption in part only, upon surrender of any such Debentures Debt Securities for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation Baytex shall execute and the Trustees Indenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures Debt Securities for the unredeemed part of the principal amount of the Debenture Debt Security or Debentures Debt Securities so surrendered or, with respect to a Global DebentureDebt Security, the Trustees Depository shall make notations on the Global Debenture Debt Security of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” "Debt Security " or “Debentures” "Debt Securities" as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture Debt Security which in accordance with the foregoing provisions has become subject to redemption. Provisions of this Indenture that apply to Debt Securities called for redemption also apply to portions of Debt Securities called for redemption. The Indenture Trustee shall notify Baytex, the registrar and the paying agent promptly of the Debt Securities or portions of Debt Securities to be redeemed.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation Company shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to under Section 4.62.4(f), the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other any exchange on which the Debentures are then may be listed, if any, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Trustee shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “"Debenture” " or “"Debentures” " as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Debenture Trustee on a pro rata basis to the nearest multiple of $1,000 100 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Debenture Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to timeTSX. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 100 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption in part or for redemption in cash and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Call Date, the Corporation Company shall execute and the Trustees Debenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global an Uncertificated Debenture, registration and surrender of interests in the Trustees shall make notations on Debentures will be made only through the Global Debenture of the principal amount thereof so redeemedDepositary’s non-certificated system. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If Subject to the provisions of the Indenture requiring redemption of Pledged Bonds before other Bonds are redeemed, and except as otherwise provided with respect to scheduled mandatory redemption of Bonds, if less than all the Debentures of any series for the time being Bonds outstanding are at any time to be redeemed, or if a portion the principal amount of the Debentures being redeemed are being redeemed for cash and a portion Bonds of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures each Maturity to be so redeemed shall be selected by the Trustees on a pro rata basis to Trustee by lot or by such other method as the nearest multiple of $1,000 in accordance with Trustee may deem fair and appropriate; provided, however, that the principal amount of the Debentures registered in the name Bonds of each holder Maturity to be redeemed may not be larger than the principal amount of Bonds of such Maturity then eligible for redemption and may not be smaller than the smallest Authorized Denomination. Subject to the provisions of the Indenture requiring redemption of Pledged Bonds before other Bonds are redeemed, if less than all Bonds with the same Maturity are to be redeemed, the particular Bonds of such Maturity to be redeemed shall be selected by the Trustee from the outstanding Bonds of such Maturity then eligible for redemption by lot or in by such other manner method as the Trustees deems equitable, subject to Trustee shall deem fair and appropriate and which may provide for the approval selection for redemption of portions in Authorized Denominations of the Toronto Stock Exchange or principal of Bonds of such other exchange on which Maturity of a denomination larger than the Debentures are then listed, as may be required from time to timesmallest Authorized Denomination. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture The Indenture provides that all Bonds eligible for redemption that constitute Pledged Bonds shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereofbefore any other eligible Bonds are redeemed. For this purposeUpon any partial redemption of any Bond, the Trustees may makesame shall, and from time to time varyexcept as otherwise permitted by the Indenture, regulations with respect to the manner be surrendered in which such Debentures may be drawn exchange for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures Bonds of the same Maturity and in authorized form for the unredeemed part portion of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemptionprincipal.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Indenture Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to timeholder. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Indenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Indenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemedsurrendered. Unless the context otherwise requires, the terms “"Debenture” " or “"Debentures” " as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $US$1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to the approval of the Toronto Stock Exchange TSX (or such other exchange on which the Debentures are then listed), as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $US$1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares Trust Units pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation Trust shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “"Debenture” " or “"Debentures” " as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a another portion of such Debentures are being redeemed by the payment of Freely freely Tradeable Common Shares pursuant to Section 4.6Shares, the Debentures to be so redeemed shall be selected by the Trustees Debenture Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Debenture Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to timeExchange. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption in part or for redemption in cash and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such any Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such any Debentures becomes become subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Datepayment, the Corporation shall execute and the Trustees Debenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “"Debenture” " or “"Debentures” " as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which which, in accordance with the foregoing provisions provisions, has become subject to redemption.

Partial Redemption. From and after each applicable Redemption Date, unless there shall have been a default in payment of the applicable Redemption Price, all rights of the holders as to the shares of Preferred Stock to be redeemed (except the right to receive the applicable Redemption Price without interest upon surrender of their certificate or certificates) shall cease with respect to such redeemed shares, and such shares shall not thereafter be transferred on the books of the Corporation or be deemed to be outstanding for any purpose whatsoever. If less than the funds of the Corporation legally available for redemption of shares of Preferred Stock on any applicable Redemption Date are insufficient to redeem the total number of such shares to be redeemed on such date, those funds which are legally available will be used to redeem (w) the maximum possible number of shares of Series D-1 Preferred Stock to be redeemed on such Redemption Date, (x) after paying or setting aside for payment amounts to be paid to the holders of Series D-1 Preferred Stock and Series D Preferred Stock under clause (w), the maximum possible number of shares of shares of Series D Preferred Stock to be redeemed on such Redemption Date, and, (y) after paying or setting aside for payment amounts to be paid to the holders of Series D-1 Preferred Stock and Series D Preferred Stock under clause (w) and clause (x), the maximum possible number of shares of Series A Preferred, Stock, Series B Preferred Stock, and Series C Preferred Stock proportionately among the holders of such shares to be redeemed based upon the aggregate applicable Redemption Price of their holdings of Preferred Stock as of the applicable Redemption Date. The shares of Preferred Stock not redeemed shall remain outstanding and entitled to all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash rights and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees on a pro rata basis preferences provided herein. Subject to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms rights of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Preferred Stock that may make, and from time to time varycome into existence, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of at any such Debentures for payment time thereafter when additional funds of the Redemption Price, together with interest accrued Corporation are legally available for the redemption of shares of Preferred Stock such funds will immediately be used to but excluding redeem the Redemption Date, balance of the shares which the Corporation shall execute and the Trustees shall certify and deliver without charge has become obliged to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees shall make notations redeem on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture applicable Redemption Date but which it has not redeemed in accordance with the foregoing provisions has become subject to redemptionprovisions.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares Units pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Debenture Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees deems equitableholder, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listedExchange, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption in part or for redemption in cash and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation Trust shall execute and the Trustees Debenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “"Debenture” " or “"Debentures” " as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Debenture Trustee on a pro rata basis to the nearest multiple of $1,000 Cdn$1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Debenture Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 Cdn$1,000 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption in part or for redemption in cash and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Debenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “"Debenture” " or “"Debentures” " as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, then the Debentures to be so redeemed shall will be selected by the Trustees Debenture Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Debenture Trustee deems equitable, subject to the approval of the Toronto Stock Exchange TSX (or such other stock exchange on which the Debentures are then listedmay be listed and posted for trading), as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall will be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption in part and regulations so made shall will be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall REIT will execute and the Trustees shall Debenture Trustee will certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to to: (i) a Global Debenture, the Trustees shall make Debenture Trustee, will make, or have made, notations on the Global Debenture of the principal amount thereof so redeemed; or (ii) a Book- Based Only Debenture, registration and surrender of interests in the Debentures will be made only through the Depositary’s NCI System. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be is deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the from time being to time outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Debenture Trustee on a pro rata basis to the nearest multiple of $1,000 100 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Debenture Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, equitable as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption in part and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Priceprincipal amount of such Debentures being redeemed, together with interest accrued and unpaid to but excluding the Redemption DateDate on such principal amount, the Corporation Company shall execute and the Trustees Debenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, redeemed or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment issuance of Freely Tradeable Common Shares pursuant Shares, and such Debentures are not in the form of one or more Global Debentures, the Corporation shall in each such case, at least 15 days before the date upon which the Redemption Notice is to Section 4.6be given, notify the Trustee by a Written Direction of the Corporation of its intention to redeem such Debentures and of the aggregate principal amount of Debentures to be redeemed. Subject to the consent of the TSX, the Debentures to be so redeemed shall be selected by the Trustees Trustee (i) on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder holder, or (ii) by lot in such other manner as the Trustees deems Trustee may deem equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued but unpaid to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Issuer Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 1,000, or such other amount as determined by the Issuer, in accordance with the principal amount of the Debentures registered in the name of each holder Debentureholder or in such other manner as the Trustees Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listedTSX, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or such other amount as determined by the Issuer, or a multiple thereof, as applicable. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption in part or for redemption in cash and regulations so made shall be valid and binding upon all holders of such Debentures Debentureholders notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation Issuer shall execute and the Trustees Trustee shall certify and deliver without charge to the holder Debentureholder thereof or upon the holderDebentureholder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depositary shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “"Debenture” " or “"Debentures” " as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Indenture Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to timeholder. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Indenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Dateredemption price, the Corporation shall execute and the Trustees Indenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemedsurrendered. Unless the context otherwise requires, the terms “"Debenture” " or “"Debentures” " as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all of the Debentures 2000 Series A Bonds of any series maturity shall be called for redemption and such 2000 Series A Bonds are not held in the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6Book-Entry Only System, the Debentures 2000 Series A Bonds to be so redeemed shall be selected by the Trustees on a pro rata basis to Trustee in any customary manner of selection as determined by the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees deems equitableTrustee, subject to the approval provisions of the Toronto Stock Exchange Trust Agreement, at their principal amounts plus accrued interest to the redemption date. So long as all of the 2000 Series A Bonds are held in the Book-Entry Only System, if less than all of the 2000 Series A Bonds of any one maturity are to be redeemed, the particular 2000 Series A Bonds or portions of the 2000 Series A Bonds of such other exchange on which maturity to be redeemed shall be selected by DTC in such manner as DTC may determine. Notice of redemption shall be given by the Debentures are then listed, as may be required from time to time. Unless otherwise specifically Trustee in the manner provided in the terms Trust Agreement at least 30 and not more than 60 days before the redemption date, to the registered owners of the 2000 Series A Bonds to be redeemed, at their last addresses as the same appear on the bond registration books of the Trustee, but neither failure to mail any such notice nor any defect in any notice so mailed with respect to any 2000 Series A Bond shall affect the sufficiency of the proceedings for the redemption of any series of Debenturesthe other 2000 Series A Bonds. If notice of redemption shall have been given as aforesaid, no Debenture the 2000 Series A Bonds or portions thereof specified in said notice shall become due and payable on the redemption date therein designated at the applicable redemption price, and if, on the redemption date, moneys for the redemption of all the 2000 Series A Bonds of like maturity to be redeemed, together with interest thereon to the redemption date, shall be redeemed in part unless held by the principal amount redeemed is $1,000 or a multiple thereofTrustee so as to be available for such payment on said date, then from and after the redemption date interest on such 2000 Series A Bonds so called for redemption shall cease to accrue. For this purposeThe Authority, the Trustees may make, Commonwealth of Massachusetts and the City of Boston have each covenanted and agreed in their respective Continuing Disclosure Agreements executed and delivered upon the original issuance of the 2000 Series A Bonds to comply with certain undertakings for the benefit of the holders from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price2000 Series A Bonds, as provided in paragraph (b)(5)(i) of Rule 15c2-12 of the Securities and Exchange Commission. Except as otherwise provided herein and unless the context clearly indicates otherwise, words and phrases used herein shall have the same meanings as assigned to such words and phrases in the Trust Agreement. It is hereby certified, recited and declared that all conditions, acts and things required by the Constitution or statutes of the Commonwealth and by the Trust Agreement to exist, to have happened or to have been performed precedent to or in connection with the issuance of this bond exist, have happened and have been performed and that the issuance of the 2000 Series A Bonds, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part all other indebtedness of the principal amount Authority, is within every debt and other limit prescribed by said Constitution and statutes. This bond shall not be valid until the Certificate of Authentication hereon shall have been manually signed by the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemptionTrustee.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares Trust Units pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Debenture Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Debenture Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to timeExchange. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption in part or for redemption in cash and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation Trust shall execute and the Trustees Debenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to the approval of the Toronto Stock TSX Venture Exchange (or such other exchange on which the Debentures are then listed), as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all In the Debentures event of any series for a Partial Redemption, the time being outstanding are at any time Trustee will select the Notes to be redeemed, redeemed in whole or if in part (such that the principal amount of a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures Holder’s Note not to be so redeemed shall be selected by the Trustees on a pro rata basis to the nearest equals $200,000 or an integral multiple of $1,000 in excess thereof), in the case of Global Notes, by lot, or on a pro rata basis, in all cases in accordance with the principal amount of the Debentures registered Applicable Procedures, and in the name case of each holder or Physical Notes, in such other manner as the Trustees Trustee deems equitable, subject to the approval appropriate and fair. Upon surrender of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be a Note that is redeemed in part unless pursuant to a Partial Redemption, the Issuer shall execute, and the Trustee shall authenticate and deliver to the Holder, a new Note in an authorized denomination, which shall be $200,000 principal amount redeemed is or an integral multiple of $1,000 or a multiple in excess thereof. For this purpose, the Trustees may make, and from time to time vary, regulations with respect equal in principal amount to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders unredeemed portion of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash onlythe Note surrendered. In the event that one of a Tax Redemption or more Provisional Redemption, the Issuer shall not be required to (i) issue, register the transfer of or exchange any Notes during the 15 calendar day period prior to the date on which the relevant Notice of Tax Redemption or Notice of Provisional Redemption is deemed to have been given to all Holders of Notes to be redeemed or (ii) register the transfer of or exchange any Notes so selected for redemption, in whole or in part, except the unredeemed portion of any Notes being redeemed in part pursuant to a Partial Redemption. If the Trustee selects a portion of a Holder’s Notes for Provisional Redemption and the Holder exchanges a portion of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption DateHolder’s Notes, the Corporation shall execute and the Trustees shall certify and deliver without charge to the holder thereof or upon the holderexchanged portion of such Holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 Notes shall be deemed to mean or include any part be from the portion selected for redemption, except to the extent of the principal amount excess, if any, of any Debenture which in accordance with the foregoing provisions has become subject to such exchanged portion over such portion selected for redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if the Corporation shall, at least 15 days before the date upon which the Redemption Notice is to be given, notify the Trustee by a portion Written Direction of the Debentures being redeemed are being redeemed for cash and a portion Corporation of its intention to redeem such Debentures are being redeemed by and of the payment aggregate principal amount of Freely Tradeable Common Shares pursuant Debentures to Section 4.6, the be redeemed. The Debentures to be so redeemed shall be selected by the Trustees Trustee (i) on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder holder, or (ii) by lot in such other manner as the Trustees Trustee deems equitable, subject to the any required approval of the Toronto Stock Exchange exchange or such other exchange market on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no No Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued but unpaid to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemedsurrendered. Unless the context otherwise requires, the terms “"Debenture” " or “"Debentures” " as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series Notes for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures Notes to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures Notes registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listedExchange, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debenturesthe Notes, no Debenture Note shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures Notes may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures Notes notwithstanding that as a result thereof one or more of such Debentures Notes may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures Notes becomes subject to redemption in part only, upon surrender of any such Debentures Notes for payment of the Redemption Price or Common Shares at the Conversion Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures Notes for the unredeemed part of the principal amount of the Debenture Note or Debentures Notes so surrendered or, with respect to a Global DebentureNote, the Trustees Trustee shall make notations on the Global Debenture Note of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “DebentureNote” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if the Corporation shall, at least 15 days before the date upon which the Redemption Notice is to be given, notify the Trustee by a portion Written Direction of the Debentures being redeemed are being redeemed for cash and a portion Corporation of its intention to redeem such Debentures are being redeemed by and of the payment aggregate principal amount of Freely Tradeable Common Shares pursuant Debentures to Section 4.6, the be redeemed. The Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to timeholder. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or only. If a portion of a holder’s Debentures is selected for cash onlypartial redemption and the holder converts a portion of the Debentures prior to such redemption, the converted portion will be deemed to be the portion selected for redemption. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, with respect to a Global Debenture, the Depositary shall make notations on the Global Debenture of the principal amount thereof so redeemed, or if the Debentures are not in the form of a Global Debenture, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemedsurrendered. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Trustee shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to the approval of the Toronto Stock Exchange TSXV or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Trustee shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, then the Debentures to be so redeemed shall must be selected by the Trustees Debenture Trustee on a pro rata basis to the nearest multiple of $1,000 100 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Debenture Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listedExchange, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall will be redeemed in part unless the principal amount redeemed is $1,000 100 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption in part or for redemption in cash and regulations so made shall will be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall must execute and the Trustees shall Debenture Trustee must certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees shall Depositary must make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall is be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, redeemed or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment issuance of Freely Tradeable Common Shares pursuant Shares, and such Debentures are not in the form of a Global Debenture, the Corporation shall in each such case, at least 15 days before the date upon which the Redemption Notice is to Section 4.6be given, notify the Debenture Trustee by a Written Direction of the Corporation of its intention to redeem such Debentures and of the aggregate principal amount of Debentures to be redeemed. Subject to the consent of the TSX, the Debentures to be so redeemed shall be selected by the Trustees Debenture Trustee (i) on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder holder, or (ii) by lot in such other manner as the Trustees deems Debenture Trustee may deem equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued but unpaid to but excluding the Redemption Date, the Corporation shall execute and the Trustees Debenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Debenture Trustee shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Freely-Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Debenture Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Debenture Trustee deems equitable, subject to the approval of the Toronto Stock Exchange TSX or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption in part or for redemption in cash and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Debenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Debenture Trustee shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if the Corporation shall, at least 15 days before the date upon which the Redemption Notice is to be given, notify the Trustee by a portion Written Direction of the Debentures being redeemed are being redeemed for cash and a portion Corporation of its intention to redeem such Debentures are being redeemed by and of the payment aggregate principal amount of Freely Tradeable Common Shares pursuant Debentures to Section 4.6, the be redeemed. The Debentures to be so redeemed shall be selected by the Trustees Trustee (i) on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder holder, or (ii) to the extent such pro rata allocation is not possible, by lot in such other manner as the Trustees Trustee deems equitable, subject to the any required approval of the Toronto Stock Exchange exchange or such other exchange market on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no No Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued but unpaid to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemedsurrendered. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less fewer than all of the Debentures outstanding Bonds are called for redemption at one time, the selection of any series for the time being outstanding are at any time Bonds to be redeemed, or portions thereof, in amounts equal to $5,000 or any integral multiple thereof shall be made by lot by the Trustee in any manner that the Trustee may determine; provided that the Trustee shall select Bonds for redemption so as to assure that after such redemption no Holder shall retain Bonds in an aggregate amount less than $100,000 if the Bonds then bear interest at a portion Variable Rate, or, at a Fixed Interest Rate, if the Authorized Denominations of the Debentures being redeemed Bonds are being redeemed required to be $100,000 or greater; and provided further that, if less than all of an outstanding Bond in a book-entry system is to be called for cash and a portion redemption, the Trustee shall give notice to the Depository or the nominee of the Depository that is the Holder of such Debentures are being redeemed by Bond, and the payment selection of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures Beneficial Ownership Interests in that Bond to be so redeemed shall be selected by at the Trustees on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount sole discretion of the Debentures registered in the name of each holder or in such other manner as the Trustees deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees may make, Depository and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash onlyits participants. In the event case of a partial redemption of Bonds by lot, each unit of face value of principal thereof equal to $5,000 (each such $5,000 unit is hereinafter referred to as a "Unit") shall be treated as though it were a separate Bond in the amount of such Unit. If it is determined that one or more more, but not all of such Debentures becomes subject the Units represented by a Bond are to be called for redemption, then upon notice of redemption in part onlyof a Unit or Units of Bonds, upon the Holder of that Bond shall surrender of any such Debentures the Bond to the Trustee (a) for payment of the Redemption Priceredemption price of the Unit or Units of Bonds called for redemption (including without limitation, together with the interest accrued to but excluding the Redemption Datedate fixed for redemption and any premium), the Corporation shall execute and the Trustees shall certify and deliver (b) for issuance, without charge to the holder thereof Holder thereof, of a new Bond or upon the holder’s order one or more new Debentures for the unredeemed part Bonds of the same series, of $100,000 if Bonds bear interest at a Variable Rate or, at a Fixed Interest Rate, if the Authorized Denominations of the Bonds are required to be $100,000 or greater, or of $5,000, in all other cases, or amounts in excess thereof in such integrals as are permitted hereunder, aggregating a principal amount of equal to the Debenture or Debentures so surrendered orunmatured and unredeemed portion of, with respect to a Global Debentureand bearing interest at the same rate and maturing on the same date as, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemedBond surrendered. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used Notwithstanding anything in this Article 4 Section to the contrary, any Pledged Bonds (or book entry interests therein) pledged to the Bank pursuant to the Reimbursement Agreement shall be deemed selected for redemption pursuant to mean or include any part of this Section prior to the principal amount selection of any Debenture which in accordance with the foregoing provisions has become subject to redemptionother Bonds.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Issuer Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 1,000, or such other amount as determined by the Issuer, in accordance with the principal amount of the Debentures registered in the name of each holder Debentureholder or in such other manner as the Trustees Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listedTSX, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or such other amount as determined by the Issuer, or a multiple thereofthereof as applicable. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption in part or for redemption in cash and regulations so made shall be valid and binding upon all holders of such Debentures Debentureholders notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation Issuer shall execute and the Trustees Trustee shall certify and deliver without charge to the holder Debentureholder thereof or upon the holderDebentureholder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depositary shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 100 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption in part or for redemption in cash and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Put Date, the Corporation Company shall execute and the Trustees Debenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Debenture Trustee shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 5 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.610.06, the Debentures to be so redeemed shall be selected by the Trustees Canadian Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Canadian Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no No Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Canadian Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation Company shall execute and the Trustees Canadian Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depositary shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 X shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less fewer than all of the Debentures outstanding Bonds of any a series that are stated to mature on different dates are called for redemption at one time, those Bonds which are called shall be called in inverse order of the time being outstanding maturities of the Bonds of that series to be redeemed. If fewer than all of the Bonds of a single maturity are at any time to be redeemed, the selection of Bonds to be redeemed, or portions thereof, in amounts equal to $5,000 or any integral multiple thereof shall be made by lot by the Trustee in any manner which the Trustee may determine; provided that the Trustee shall select Project Bonds for redemption so as to assure that after such redemption no Holder shall retain Bonds in an aggregate amount less than $100,000; and provided further that, if less than all of an outstanding Bond of one maturity in a portion book entry system is to be called for redemption, the Trustee shall give notice to the Depository or the nominee of the Debentures being redeemed are being redeemed for cash and a portion Depository that is the Holder of such Debentures are being redeemed by Bond, and the payment selection of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures beneficial interests in that Bond to be so redeemed shall be selected by at the Trustees on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount sole discretion of the Debentures registered in the name of each holder or in such other manner as the Trustees deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees may make, Depository and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash onlyits participants. In the event case of a partial redemption of Bonds by lot each unit of face value of principal thereof equal to $5,000 (each such $5,000 unit is hereinafter referred to as a "Unit") shall be treated as though it were a separate Bond in the amount of such Unit. If it is determined that one or more more, but not all of such Debentures becomes subject the Units represented by a Bond are to be called for redemption, then upon notice of redemption in part onlyof a Unit or Units of Bonds, upon the Holder of that Bond shall surrender of any such Debentures the Bond to the Trustee (a) for payment of the Redemption Priceredemption price of the Unit or Units of Bonds called for redemption (including without limitation, together with the interest accrued to but excluding the Redemption Datedate fixed for redemption and any premium), the Corporation shall execute and the Trustees shall certify and deliver (b) for issuance, without charge to the holder thereof Holder thereof, of a new Bond or upon the holder’s order one or more new Debentures for the unredeemed part Bonds of the same series, of $100,000 or amounts in excess thereof in such integrals as are permitted hereunder, aggregating a principal amount of equal to the Debenture or Debentures so surrendered orunmatured and unredeemed portion of, with respect to a Global Debentureand bearing interest at the same rate and maturing on the same date as, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemedBond surrendered. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.42

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by not in the payment form of Freely Tradeable Common Shares pursuant to Section 4.6a Global Debenture, the REIT shall in each such case, at least 15 days before the date upon which the Redemption Notice is to be given, notify the Trustee by a Written Direction of the REIT of its intention to redeem such Debentures and of the aggregate principal amount of Debentures to be redeemed. The Debentures to be so redeemed shall (subject to the consent of the TSX in the case of Debentures that are listed on the TSX) be selected by the Trustees Trustee (i) on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder holder, or (ii) by lot in such other manner as the Trustees deems Trustee may deem equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption PricePrice (less any taxes required to be withheld), together with accrued and unpaid interest accrued (less any taxes required to be withheld) to but excluding the Redemption Date, the Corporation REIT shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series Notes for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures Notes to be so redeemed shall be selected by the Trustees Note Trustee on a pro rata basis to the nearest multiple of $US$1,000 in accordance with the principal amount of the Debentures Notes registered in the name of each holder or in such other manner as the Trustees Note Trustee deems equitable, subject to the approval of the Toronto Stock Exchange TSX or such other exchange on which the Debentures Notes are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debenturesthe Notes, no Debenture Note shall be redeemed in part unless the principal amount redeemed is $US$1,000 or a multiple thereof. For this purpose, the Trustees Note Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures Notes may be drawn for redemption in part or for redemption in cash and regulations so made shall be valid and binding upon all holders of such Debentures Notes notwithstanding the fact that as a result thereof one or more of such Debentures Notes may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures Notes becomes subject to redemption in part only, upon surrender of any such Debentures Notes for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Note Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures Notes for the unredeemed part of the principal amount of the Debenture Note or Debentures Notes so surrendered or, with respect to a Global DebentureNote, the Trustees Depository shall make notations on the Global Debenture Note of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “DebentureNote” or “DebenturesNotes” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture Note which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Tradable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to compliance with Applicable Securities Legislation and to the approval of the Toronto Stock Exchange TSX or such other exchange on which the Debentures and/or Common Shares are then listedlisted or quoted for trading, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued (less any tax required by law to be deducted) to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “"Debenture” " or “"Debentures” " as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Tradable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to compliance with Applicable Securities Legislation and to the approval of the Toronto Stock Exchange CSE or such other exchange on which the Debentures Common Shares are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no No Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “"Debenture” " or “"Debentures” " as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Debenture Trustee on a pro rata basis to the nearest multiple of $US$1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Debenture Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to timeExchange. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $US$1,000 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, with respect to one or more Global Debentures, the Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed or, if the Debentures are then in fully registered form, the Corporation shall execute and the Trustees Debenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemedsurrendered. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. ‌ If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global an Uncertificated Debenture, registration and surrender of interests in the Trustees shall make notations on Debentures will be made only through the Global Debenture of the principal amount thereof so redeemedDepositary’s non-certificated system. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less fewer than all of the Debentures Bonds of any series a Series shall be called for redemption, the time being outstanding are at any time portion of Bonds of such Series to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by lot by the Trustees on Trustee from among all Outstanding Bonds of such Series, and, for this purpose, each $5,000 increment of principal amount represented by any Bond of such Series shall be considered a pro rata basis separate Bond for purposes of selecting the Bonds of such Series to be redeemed; provided, however, that no Bond may be redeemed in part if the principal amount to be Outstanding following such partial redemption is not an Authorized Denomination. If it is determined that one or more, but not all, of the $5,000 increments of principal amount represented by any Bond is to be called for redemption, then, upon notice of intention to redeem such $5,000 increments of principal amount of such Bond, the Owner of such Bond, upon surrender of such Bond to the nearest multiple Trustee for payment to such Owner of $1,000 in accordance with the redemption price or the principal amount of such Bond called for redemption, shall be entitled to receive a new Bond or Bonds of the Debentures registered same Series in the name of each holder or in such other manner as the Trustees deems equitable, subject to the approval aggregate principal amount of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part balance of the principal amount of such Bond. New Bonds representing the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part unredeemed balance of the principal amount of such Bonds shall be issued to the Owner thereof without charge therefor. If the owner of any Debenture which Bond of a denomination greater than $100,000 shall fail to present such Bond to the Trustee 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 $5,000 increments of principal amount called for redemption (and to that extent only). Notwithstanding the foregoing provisions, the Trustee shall first redeem Pledged Bonds and Corporation Bonds (in that order) of the Series of Bonds being called for redemption. While the Bonds of a Series are held in a book-entry-only system, it shall be the duty of the Remarketing Agent to effect a partial redemption of the beneficial interests in the Bonds of such Series in accordance with the foregoing provisions has become subject to redemptionprovisions.

Partial Redemption. If less In the event the Issuer elects to redeem fewer than all of the Debentures of any series for outstanding Notes (a “Partial Redemption”) the time being outstanding are at any time Notes to be redeemedredeemed will be selected, in whole or if in part (such that the principal amount of a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures Holder’s Note not to be so redeemed shall be selected by the Trustees on a pro rata basis to the nearest equals $1,000 or an integral multiple of $1,000 in accordance with the principal amount of the Debentures registered excess thereof), by lot, or on a pro rata basis, and (a) in the name case of each holder Global Notes, according to the Applicable Procedures, or (b) in the case of Physical Notes, such Notes to be redeemed in whole or in part will be selected by the Trustee, in such other manner as the Trustees Trustee deems equitable, subject to the approval appropriate and fair. Upon surrender of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be a Note that is redeemed in part unless pursuant to a Partial Redemption, the Issuer shall execute, and the Trustee shall authenticate and deliver to the Holder, a new Note in an authorized denomination, which shall be $1,000 principal amount redeemed is or an integral multiple of $1,000 or a multiple in excess thereof. For this purpose, the Trustees may make, and from time to time vary, regulations with respect equal in principal amount to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders unredeemed portion of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash onlythe Note surrendered. In the event that one of a Tax Redemption or more Provisional Redemption, the Issuer shall not be required to (i) issue, register the transfer of or exchange any Notes during the 15 calendar day period prior to the date on which the relevant Notice of Tax Redemption or Notice of Provisional Redemption is deemed to have been given to all Holders of Notes to be redeemed or (ii) register the transfer of or exchange any Notes so selected for redemption, in whole or in part, except the unredeemed portion of any Notes being redeemed in part pursuant to a Partial Redemption. If the Trustee selects a portion of a Holder’s Notes for Provisional Redemption and the Holder exchanges a portion of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption DateHolder’s Notes, the Corporation shall execute and the Trustees shall certify and deliver without charge to the holder thereof or upon the holderexchanged portion of such Holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 Notes shall be deemed to mean or include any part be from the portion selected for redemption, except to the extent of the principal amount excess, if any, of any Debenture which in accordance with the foregoing provisions has become subject to such exchanged portion over such portion selected for redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to the approval of the Toronto Stock Exchange CSE or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no No Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemedsurrendered. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures Debt Securities of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures Debt Securities to be so redeemed shall be selected by the Trustees Indenture Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures Debt Securities registered in the name of each holder or in such other manner as the Trustees Indenture Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange exchange, if any, on which the Debentures Debt Securities are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of DebenturesDebt Securities, no Debenture Debt Security shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Indenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures Debt Securities may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures Debt Securities notwithstanding that as a result thereof one or more of such Debentures Debt Securities may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures Debt Securities becomes subject to redemption in part only, upon surrender of any such Debentures Debt Securities for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation Trust shall execute and the Trustees Indenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures Debt Securities for the unredeemed part of the principal amount of the Debenture Debt Security or Debentures Debt Securities so surrendered or, with respect to a Global DebentureDebt Security, the Trustees Depository shall make notations on the Global Debenture Debt Security of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” Debt Security “ or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other any exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Trustee shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “"Debenture” " or “"Debentures” " as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to the approval of the Toronto Stock Exchange TSX (or such other exchange on which the Debentures are then listed), as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify Authenticate and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global an Uncertificated Debenture, registration and surrender of interests in the Trustees shall make notations on Debentures will be made only through the Global Debenture of the principal amount thereof so redeemedDepository's non-certificated system. Unless the context otherwise requires, the terms “"Debenture” " or “"Debentures” " as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Debenture Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Debenture Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to timeExchange. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation Trust shall execute and the Trustees Debenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less fewer than all of the Debentures outstanding Bonds of any a series that are stated to mature on different dates are called for redemption at one time, those Bonds. which are called shall be called in inverse order of the time being outstanding maturities of the Bonds of that series to be redeemed. If fewer than all of the Bonds of a single maturity are at any time to be redeemed, the selection of Bonds to be redeemed, or portions thereof, in amounts equal to $5,000 or integral multiples thereof shall be made by lot by the Trustee in any manner which the Trustee may determine; provided that the Trustee shall select Refunding Bonds for redemption so as to assure that after such redemption no Holder shall retain Bonds in an aggregate amount less than $100,000 and that any aggregate partial redemption shall be $100,000 or more; and provided further that, if less than all of an outstanding Bond of one maturity in a portion book entry system is to be called for redemption, the Trustee shall give notice to the Depository or the nominee of the Debentures being redeemed are being redeemed for cash and a portion Depository that is the Holder of such Debentures are being redeemed by Bond, and the payment selection of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures beneficial interests in that Bond to be so redeemed shall be selected by at the Trustees on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount sole discretion of the Debentures registered in the name of each holder or in such other manner as the Trustees deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees may make, Depository and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash onlyits participants. In the event case of a partial redemption of Bonds by lot, each unit of face value of principal thereof equal to $5,000 (each such $5,000 unit is hereinafter referred to as a "Unit") shall be treated as though it were a separate Bond in the amount of such Unit. If it is determined that one or more more, but not all of such Debentures becomes subject the Units represented by a Bond are to be called for redemption, then upon notice of redemption in part onlyof a Unit or Units of Bonds, upon the Holder of that Bond shall surrender of any such Debentures the Bond to the Registrar (a) for payment of the Redemption Priceredemption price of the Unit or Units of Bonds called for redemption (including without limitation, together with the interest accrued to but excluding the Redemption Datedate fixed for redemption and any premium), the Corporation shall execute and the Trustees shall certify and deliver (b) for issuance, without charge to the holder thereof Holder thereof, of a new Bond or upon the holder’s order one or more new Debentures for the unredeemed part Bonds of the same series, in denominations of $100,000 and integral multiples of $5,000 in excess thereof, aggregating a principal amount of equal to the Debenture or Debentures so surrendered orunmatured and unredeemed portion of, with respect to a Global Debentureand bearing interest at the same rate and maturing on the same date as, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemedBond surrendered. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used Notwithstanding anything in this Article 4 Section 4.02 to the contrary, any Pledged Bonds (or Beneficial Ownership Interests therein) shall be deemed selected for redemption pursuant to mean or include any part of this Section 4.02 prior to the principal amount selection of any Debenture which in accordance with the foregoing provisions has become subject to redemptionother Refunding Bonds.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Debenture Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Debenture Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to timeExchange. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation Trust shall execute and the Trustees Debenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “"Debenture” " or “Debentures” " as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Debenture Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Debenture Trustee deems equitable, subject (if applicable) to the approval of the Toronto Stock Exchange (or such approval of any other stock exchange on which the Debentures are then may be listed, if any), as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption in part or for redemption in cash in part and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with accrued and unpaid interest accrued to but excluding the Redemption Date, the Corporation Company shall execute and the Trustees Debenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemedredeemed which notation shall be authenticated by the Debenture Trustee. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Tradable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $US$1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Trustee deems equitable, subject to compliance with Applicable Securities Legislation and to the approval of the Toronto Stock Exchange TSX and the NYSE Amex or such other exchange on which the Debentures and/or Common Shares are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $US$1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “"Debenture” " or “"Debentures” " as used in this Article 4 ARTICLE IV shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. ‌ If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to timeholder. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global an Uncertificated Debenture, registration and surrender of interests in the Trustees shall make notations on Debentures will be made only through the Global Debenture of the principal amount thereof so redeemedDepositary’s non-certificated system. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares Trust Units pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Debenture Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Debenture Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listedExchange, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption in part or for redemption in cash and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, the Corporation Trust shall execute and the Trustees Debenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees Depository shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “"Debenture” " or “"Debentures” " as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less than all the Debentures of any series for the time being outstanding are at any time to be redeemed, or if a portion of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed by the payment of Freely Tradeable Common Shares pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees Debenture Trustee on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees Debenture Trustee deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are may then be listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no No Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees Debenture Trustee may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption in part and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding the fact that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash only. In the event that one or more of such Debentures becomes subject to redemption in part only, upon surrender of any such Debentures for payment of the Redemption Price, together with with, if accrued interest is not included in the Redemption Price, interest accrued to but excluding the Redemption Date, the Corporation shall execute and the Trustees Debenture Trustee shall certify and deliver without charge to the holder thereof or upon the holder’s 's order one or more new Debentures for the unredeemed part of the principal amount of the Debenture or Debentures so surrendered or, with respect to a Global Debenture, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemedsurrendered. Unless the context otherwise requires, the terms “"Debenture” " or “"Debentures” " as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemption.

Partial Redemption. If less fewer than all of the Debentures Outstanding Bonds of any a series that are stated to mature on different dates are called for redemption at one time, those Bonds that are called shall be called as designated by the time being outstanding Chief Financial Officer without regard to the order of the maturities of the Bonds of that series to be redeemed. If fewer than all of the Bonds of a single maturity of a series are at any time to be redeemed, the selection of Bonds to be redeemed, or portions thereof in Authorized Denominations thereof, shall be made by lot in any manner that the Trustee may determine; provided, however, that, if a portion Bonds subject to mandatory sinking fund redemption are called for optional redemption, the credit to the Mandatory Sinking Fund Requirements (and corresponding mandatory sinking fund redemption obligation) of the Debentures being redeemed are being redeemed for cash and a portion of such Debentures are being redeemed Authority shall be designated by the payment Chief Financial Officer. If Bonds of Freely Tradeable Common Shares a series are to be selected for mandatory redemption and for optional redemption on the same date, the Trustee or its designee shall first select the Bonds to be redeemed pursuant to Section 4.6, the Debentures to be so redeemed shall be selected by the Trustees on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the Debentures registered in the name of each holder or in such other manner as the Trustees deems equitable, subject to the approval of the Toronto Stock Exchange or such other exchange on which the Debentures are then listed, as may be required from time to time. Unless otherwise specifically provided in the terms of any series of Debentures, no Debenture shall be redeemed in part unless the principal amount redeemed is $1,000 or a multiple thereof. For this purpose, the Trustees may make, and from time to time vary, regulations with respect to the manner in which such Debentures may be drawn for redemption and regulations so made shall be valid and binding upon all holders of such Debentures notwithstanding that as a result thereof one or more of such Debentures may become subject to redemption in part only or for cash onlyoptional redemption. In the event case of a partial redemption of Bonds by lot when Bonds of Authorized Denominations greater than the minimum Authorized Denomination are then Outstanding, each minimum Authorized Denomination thereof shall be treated as though it were a separate Bond of the minimum Authorized Denomination. If it is determined that one or more more, but not all of such Debentures becomes subject the minimum Authorized Denominations represented by a Bond are to be called for redemption, then upon notice of redemption in part only, upon of a minimum Authorized Denomination the Holder of that Bond shall surrender of any such Debentures the Bond to the Trustee (a) for payment of the Redemption Priceredemption price of the minimum Authorized Denomination called for redemption (including without limitation, together with the interest accrued to but excluding the Redemption Datedate fixed for redemption and any premium), the Corporation shall execute and the Trustees shall certify and deliver (b) for issuance, without charge to the holder thereof Holder thereof, of a new Bond or upon the holder’s order one or more new Debentures for the unredeemed part Bonds of the same series, of any Authorized Denomination or Denominations in an aggregate principal amount of equal to the Debenture unmatured and unredeemed portion of, and bearing interest at the same rate and maturing on the same date or Debentures so surrendered or, with respect to a Global Debenturedates as, the Trustees shall make notations on the Global Debenture of the principal amount thereof so redeemed. Unless the context otherwise requires, the terms “Debenture” or “Debentures” as used in this Article 4 shall be deemed to mean or include any part of the principal amount of any Debenture which in accordance with the foregoing provisions has become subject to redemptionBond surrendered.