Common use of Selection and Notice Clause in Contracts

Selection and Notice. If less than all of the -------------------- Securities are to be redeemed at any time, selection of Securities for redemption will be made by the Trustee in compliance with the requirements of the principal national securities exchange, if any, on which the Securities are listed, or, if the Securities are not so listed, on a pro rata basis (among the Securities and any Additional Securities as one class), by lot or by such method as the Trustee shall deem fair and appropriate; provided that no Securities in a -------- principal amount at maturity of $1,000 or less shall be redeemed in part. If any Security is to be redeemed in part only, the notice of redemption that relates to such Security shall state the portion of the principal amount thereof to be redeemed. On and after the redemption date, interest and Liquidated Damages, if any, cease to accrue on Securities or portions of them called for redemption (or, if such redemption date is prior to the Full Accretion Date, Accreted Value of the Securities will cease to accrete).

Appears in 2 contracts

Samples: Harborside Healthcare Corp, Sailors Inc

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Selection and Notice. If less than all of the -------------------- Securities are to be redeemed at any time, -------------------- selection of Securities for redemption will be made by the Trustee in compliance with the requirements of the principal national securities exchange, if any, on which the Securities are listed, or, if the Securities are not so listed, on a pro rata basis (among the Securities and any Additional Securities as one class), by lot or by such method as the Trustee shall deem fair and appropriate; provided that no Securities in a -------- principal amount at -------- maturity of $1,000 or less shall be redeemed in part. If any Security is to be redeemed in part only, the notice of redemption that relates to such Security shall state the portion of the principal amount thereof to be redeemed. On and after the redemption date, interest and Liquidated Damages, if any, cease to accrue on Securities or portions of them called for redemption (or, if such redemption date is prior to the Full Accretion Date, Accreted Value of the Securities will cease to accrete).

Appears in 1 contract

Samples: Indenture (Harborside Healthcare Corp)

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Selection and Notice. If less than all of the Securities -------------------- Securities are to be redeemed at any time, selection of Securities for redemption will be made by the Trustee in compliance with the requirements of the principal national securities exchange, if any, on which the Securities are listed, or, if the Securities are not so listed, on a pro rata basis (among the Securities and any Additional Securities as one class), by lot or by such method as the Trustee shall deem fair and appropriate; provided that no Securities in a principal -------- principal amount at maturity of $1,000 or less shall be redeemed in part. If any Security is to be redeemed in part only, the notice of redemption that relates to such Security shall state the portion of the principal amount thereof to be redeemed. On and after the redemption date, interest and Liquidated Damages, if any, cease to accrue on Securities or portions of them called for redemption (or, if such redemption date is prior to the Full Accretion Date, Accreted Value of the Securities will cease to accrete).

Appears in 1 contract

Samples: Harborside Healthcare Corp

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