Common use of Partial Redemption Clause in Contracts

Partial Redemption. The Credit Union may redeem less than all of the outstanding Senior Subordinated Securities, provided that the amount called for redemption at any time is not less than 20% of the amount of the outstanding principal amount of the Senior Subordinated Securities. Subject to the provisions hereof, the Board of Directors or a duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which Senior Subordinated Securities shall be redeemed from time to time. If less than the full aggregate principal amount of any Senior Subordinated Security is redeemed, the Credit Union shall issue a new Senior Subordinated Security in the unredeemed aggregate principal amount thereof without charge to the Holder thereof. Senior Subordinated Securities may be redeemed in part only on a pro rata basis and only in minimum denominations of $1,000 and integral multiples thereof.

Partial Redemption. The Credit Union Company may redeem less than all of the outstanding Senior Subordinated Securities, provided that the amount called for redemption at any time is not less than 2025% of the amount of the outstanding principal amount of the Senior Subordinated Securities. Subject to the provisions hereof, the Board of Directors or a duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which Senior Subordinated Securities shall be redeemed from time to time. If less than the full aggregate principal amount of any Senior Subordinated Security is redeemed, the Credit Union Company shall issue a new Senior Subordinated Security in the unredeemed aggregate principal amount thereof without charge to the Holder thereof. Senior Subordinated Securities may be redeemed in part only on a pro rata basis and only in minimum denominations of $1,000 and integral multiples thereof.

Partial Redemption. The Credit Union may redeem less than all of the outstanding Senior Subordinated Securities, provided that the amount called for redemption at any time is not less than 2025% of the amount of the outstanding principal amount of the Senior Subordinated Securities. Subject to the provisions hereof, the Board of Directors or a duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which Senior Subordinated Securities shall be redeemed from time to time. If less than the full aggregate principal amount of any Senior Subordinated Security is redeemed, the Credit Union shall issue a new Senior Subordinated Security in the unredeemed aggregate principal amount thereof without charge to the Holder thereof. Senior Subordinated Securities may be redeemed in part only on a pro rata basis and only in minimum denominations of $1,000 and integral multiples thereof.

Partial Redemption. The Credit Union Bank may redeem less than all of the outstanding Senior Subordinated Securities, provided that the amount called for redemption at any time is not less than 2025% of the amount of the outstanding principal amount of the Senior Subordinated Securities. Subject to the provisions hereof, the Board of Directors or a duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which Senior Subordinated Securities shall be redeemed from time to time. If less than the full aggregate principal amount of any Senior Subordinated Security is redeemed, the Credit Union Bank shall issue a new Senior Subordinated Security in the unredeemed aggregate principal amount thereof without charge to the Holder thereof. Senior Subordinated Securities may be redeemed in part only on a pro rata basis and only in minimum denominations of $1,000 and integral multiples thereof.