Common use of Selection of Bonds for Redemption Clause in Contracts

Selection of Bonds for Redemption. Subject to the provisions of Section 301(c)(vi) if less than all of the Bonds are called for redemption, the Paying Agent shall select the Bonds or portions thereof to be redeemed, in such manner as in the Paying Agent's sole discretion it shall deem appropriate and fair. The Paying Agent shall promptly notify the Authority and the Company in writing of the Bonds or portions thereof selected for redemption; provided, however, that in connection with any redemption of Bonds the Paying Agent shall first select for redemption any Bonds held by the Tender Agent or the Remarketing Agent, if any for the account of the Company or held of record by the Company. If it is determined that one or more, but not all, of the portions of principal amount represented by any such Bond is to be called for redemption, then, upon notice of intention to redeem such portion or portions, the owner of such Bond shall forthwith surrender such Bond to the Paying Agent for (a) payment to such Bondowner of the redemption price of the portion or portions of principal amount called for redemption, and (b) delivery to such Bondowner of a new Bond or Bonds in the aggregate principal amount of the unredeemed balance of the principal amount of the Bond. New Bonds representing the unredeemed balance of the principal amount of such Bonds shall be issued to the owner thereof, without charge therefor. If the owner of any such Bond shall fail to present such Bond to the Paying Agent 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 portion or portions of principal amount called for redemption (and to that extent only).

Selection of Bonds for Redemption. Subject to the provisions of Section 301(c)(vi) if If less than all of the Bonds are called for redemption, the Paying Agent they shall select the Bonds or portions thereof to be redeemed, redeemed [from maturities in such manner order as in determined by the Paying Agent's sole discretion it shall deem appropriate [Borrower/Issuer] [proportionately by maturity], and fair. The Paying Agent shall promptly notify the Authority and the Company in writing of the Bonds or portions thereof selected for redemption; by lot within any maturity (provided, however, that if an Event of Default has occurred and is continuing any Bonds called for redemption shall be redeemed in connection with proportion by maturity and within maturities by lot), subject to selection by the Trustee as provided below. The portion of any redemption Bond to be redeemed shall be an Authorized Denomination or any multiple thereof and in selecting Bonds for redemption, each Bond shall be considered as representing that number of Bonds which is obtained by dividing the Paying Agent shall first select for redemption any Bonds held principal amount of such Bond by the Tender Agent or the Remarketing Agent, if any for the account of the Company or held of record by the Companyminimum Authorized Denomination. If it is determined that one or more, but not all, a portion of the portions of principal amount represented by any such a Bond is to shall be called for redemption, then, upon notice of intention to redeem such portion or portions, the owner of such Bond shall forthwith surrender such Bond to the Paying Agent for (a) payment to such Bondowner of the redemption price of the portion or portions of principal amount called for redemption, and (b) delivery to such Bondowner of a new Bond or Bonds in the aggregate principal amount of equal to the unredeemed balance of the principal amount of the Bond. New Bonds representing the unredeemed balance of the principal amount of such Bonds portion thereof shall be issued to the owner Bondholder upon the surrender thereof, without charge therefor. If for any reason the owner principal amount of any such Bond shall fail to present such Bond to the Paying Agent for payment and exchange as aforesaid, such Bond shall, nevertheless, become due and payable on the date fixed Bonds called for redemption would result in a redemption of Bonds less than the Authorized Denomination, the Trustee, to the extent of possible within the portion or portions of principal amount called of Bonds to be redeemed, is hereby authorized to adjust the selection of Bonds for such purpose in order to minimize any such redemption. Notwithstanding the foregoing, the Securities Depository for Book Entry Bonds shall select the Bonds for redemption (and within particular maturities according to that extent only)its stated procedures.

Selection of Bonds for Redemption. Subject to the provisions of Section 301(c)(vi) if If less than all of the Bonds of any Series are called for redemption, the Paying Agent Trustee shall select the Bonds of such Series or portions thereof to be redeemed, from the Bonds of such Series Outstanding not previously called for redemption, by lottery or in such other manner as in the Paying AgentTrustee's sole discretion it shall deem appropriate and fair, in either case in Authorized Denominations provided that Liquidity Provider Bonds shall be the first Bonds selected for redemption and provided further that the aggregate principal amount of each Bond remaining Outstanding following such redemption shall be in an Authorized Denomination. The Paying Agent Trustee shall promptly notify the Authority Issuer and the Company Borrower in writing of the Bonds or portions thereof selected for redemption; , provided, however, that in connection with any redemption of Bonds the Paying Agent Trustee shall first select for redemption any Bonds held by the Tender Agent or the Remarketing Agent, if any Trustee for the account of the Company Borrower or held of record by the CompanyBorrower prior to any Bonds other than Liquidity Provider Bonds. If, as indicated in a certificate of an Authorized Borrower Representative delivered to the Trustee, the Borrower shall have offered to purchase all Bonds of such Series then outstanding and less than all such Bonds of such Series shall have been tendered to the Borrower for such purchase, the Trustee, at the direction of the Borrower, shall select for redemption all such Bonds of such Series regardless of whether such Bonds have been so tendered. If it is determined that one or more, but not all, of the portions units of principal amount represented by any such Bond is to be called for redemption, then, upon notice of intention to redeem such portion unit or portionsunits, the owner Owner of such Bond shall shall, except as provided in Section 2.13 hereof with respect to Book-Entry Bonds, forthwith surrender such Bond to the Paying Agent Trustee for (a) payment to such Bondowner Owner of the redemption price of the portion unit or portions units of principal amount called for redemption, and (b) delivery to such Bondowner Owner of a new Bond or Bonds in the aggregate principal amount of the unredeemed balance of the principal amount of the such Bond. New Bonds representing the unredeemed balance of the principal amount of such Bonds Bond shall be issued to the owner Owner thereof, without charge therefor. If the owner surrender of such Bonds is required hereunder and the Owner of any such Bond shall fail to present such Bond to the Paying Agent Trustee for payment and exchange as aforesaid, such Bond shall, nevertheless, become due and payable payable, and interest thereon shall cease to accrue, on the date fixed for redemption to the extent of the portion unit or portions units of principal amount called for redemption (and to that extent only). Payment of the redemption prices by the Borrower for any Series of Bonds called for redemption constitutes full and complete payment of the Bonds of such Series.

Selection of Bonds for Redemption. Subject to the provisions of Section 301(c)(vi) if If less than all of the Bonds of any Series are called for redemption, the Paying Agent Trustee shall select the Bonds of such Series or portions thereof to be redeemed, from the Bonds of such Series Outstanding not previously called for redemption, by lottery or in such other manner as in the Paying Agent's Trustee’s sole discretion it shall deem appropriate and fair, in either case in Authorized Denominations provided that Bank Bonds and Liquidity Provider Bonds shall be the first Bonds selected for redemption, and provided further that the aggregate principal amount of each Bond remaining Outstanding following such redemption shall be in an Authorized Denomination. The Paying Agent Trustee shall promptly notify the Authority Issuer and the Company Borrower in writing of the Bonds or portions thereof selected for redemption; , provided, however, that in connection with any redemption of Bonds the Paying Agent Trustee shall first select for redemption any Bonds held by the Tender Agent or the Remarketing Agent, if any Trustee for the account of the Company Borrower or held of record by the CompanyBorrower prior to any Bonds other than Bank Bonds or Liquidity Provider Bonds. If, as indicated in a certificate of an Authorized Borrower Representative delivered to the Trustee, the Borrower shall have offered to purchase all Bonds of such Series then outstanding and less than all such Bonds of such Series shall have been tendered to the Borrower for such purchase, the Trustee, at the direction of the Borrower, shall select for redemption all such Bonds of such Series regardless of whether such Bonds have been so tendered. If it is determined that one or more, but not all, of the portions units of principal amount represented by any such Bond is to be called for redemption, then, upon notice of intention to redeem such portion unit or portionsunits, the owner Owner of such Bond shall shall, except as provided in Section 2.13 hereof with respect to Book-Entry Bonds, forthwith surrender such Bond to the Paying Agent Trustee for (a) payment to such Bondowner Owner of the redemption price of the portion unit or portions units of principal amount called for redemption, and (b) delivery to such Bondowner Owner of a new Bond or Bonds in the aggregate principal amount of the unredeemed balance of the principal amount of the such Bond. New Bonds representing the unredeemed balance of the principal amount of such Bonds Bond shall be issued to the owner Owner thereof, without charge therefor. If the owner surrender of such Bonds is required hereunder and the Owner of any such Bond shall fail to present such Bond to the Paying Agent Trustee for payment and exchange as aforesaid, such Bond shall, nevertheless, become due and payable payable, and interest thereon shall cease to accrue, on the date fixed for redemption to the extent of the portion unit or portions units of principal amount called for redemption (and to that extent only). Payment of the redemption prices by the Borrower for any Series of Bonds called for redemption constitutes full and complete payment of the Bonds of such Series.

Selection of Bonds for Redemption. Subject to the provisions of Section 301(c)(vi) if less If fewer than all of ----------- --------------------------------- the Bonds are called for redemption, the Paying Agent Trustee shall select the Bonds or portions thereof to be redeemed, from the Bonds Outstanding not previously called for redemption, in such manner as in the Paying AgentTrustee's sole discretion it shall deem appropriate and fair; provided that Pledged Bonds, if any, shall be selected for redemption prior to any other Bond. The Paying Agent Trustee shall promptly notify the Authority Issuer and the Company Borrower in writing of the Bonds or portions thereof selected for redemption; provided, however, that in connection with . If a Bond selected for redemption shall have been purchased pursuant to Section 304 hereof and delivered pursuant to Section 304 hereof on or after the fifteenth day next preceding notice by mail of any proposed redemption of Bonds Bonds, then the Paying Agent Bond so delivered pursuant to Section 304 hereof shall first select for redemption any Bonds held by the Tender Agent or the Remarketing Agent, if any for the account of the Company or held of record by the Company. If it is determined that one or more, but not all, of the portions of principal amount represented by any such Bond is be deemed to be called the Bond so purchased and selected for redemption, then, upon notice of intention to redeem such portion or portions, the owner of such Bond shall forthwith surrender such Bond to the Paying Agent for (a) payment to such Bondowner of the redemption price of the portion or portions of principal amount called for redemption, and (b) delivery to such Bondowner of a new Bond or Bonds in the aggregate principal amount of the unredeemed balance of the principal amount of the Bond. New Bonds representing the unredeemed balance of the principal amount of such Bonds shall be issued to the owner thereof, without charge therefor. If the owner of any such Bond of a denomination greater than the minimum Authorized Denomination shall fail to present such Bond to the Paying Agent 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 portion unit or portions units of principal amount called for redemption (and to that extent only).

Selection of Bonds for Redemption. Subject to the provisions of Section 301(c)(vi) if If less than all of the Bonds are called for redemption, the Paying Agent Trustee shall select the Bonds or portions thereof to be redeemed, from the Bonds Outstanding not previously called for redemption, by lottery or in such other manner as in the Paying Agent's Trustee’s sole discretion it shall deem appropriate and fair, in either case in Authorized Denominations provided that Bank Bonds and Liquidity Provider Bonds shall be the first Bonds selected for redemption, and provided further that the aggregate principal amount of each Bond remaining Outstanding following such redemption shall be in an Authorized Denomination. The Paying Agent Trustee shall promptly notify the Authority Issuer and the Company Borrower in writing of the Bonds or portions thereof selected for redemption; , provided, however, that in connection with any redemption of Bonds the Paying Agent Trustee shall first select for redemption any Bonds held by the Tender Agent or the Remarketing Agent, if any Trustee for the account of the Company Borrower or held of record by the CompanyBorrower prior to any Bonds other than Bank Bonds or Liquidity Provider Bonds. If, as indicated in a certificate of an Authorized Borrower Representative delivered to the Trustee, the Borrower shall have offered to purchase all Bonds then outstanding and less than all such Bonds shall have been tendered to the Borrower for such purchase, the Trustee, at the direction of the Borrower, shall select for redemption all such Bonds regardless of whether such Bonds have been so tendered. If it is determined that one or more, but not all, of the portions units of principal amount represented by any such Bond is to be called for redemption, then, upon notice of intention to redeem such portion unit or portionsunits, the owner Owner of such Bond shall shall, except as provided in Section 2.13 hereof with respect to Book-Entry Bonds, forthwith surrender such Bond to the Paying Agent Trustee for (a) payment to such Bondowner Owner of the redemption price of the portion unit or portions units of principal amount called for redemption, and (b) delivery to such Bondowner Owner of a new Bond or Bonds in the aggregate principal amount of the unredeemed balance of the principal amount of the such Bond. New Bonds representing the unredeemed balance of the principal amount of such Bonds Bond shall be issued to the owner Owner thereof, without charge therefor. If the owner surrender of such Bonds is required hereunder and the Owner of any such Bond shall fail to present such Bond to the Paying Agent Trustee for payment and exchange as aforesaid, such Bond shall, nevertheless, become due and payable payable, and interest thereon shall cease to accrue, on the date fixed for redemption to the extent of the portion unit or portions units of principal amount called for redemption (and to that extent only). Payment of the redemption price by the Borrower for any Bonds called for redemption constitutes full and complete payment of such Bonds.

Selection of Bonds for Redemption. Subject to the provisions of Section 301(c)(vi) if If less than all of the Bonds are called for redemption, the Paying Agent Trustee shall select the Bonds or portions thereof to be redeemed, from the Bonds Outstanding not previously called for redemption, by lottery or in such other manner as in the Paying Agent's Trustee’s sole discretion it shall deem appropriate and fair, in either case in Authorized Denominations provided that Bank Bonds and Liquidity Provider Bonds shall be the first Bonds selected for redemption, and provided further that the aggregate principal amount of each Bond remaining Outstanding following such redemption shall be in an Authorized Denomination. The Paying Agent Trustee shall promptly notify the Authority Issuer and the Company Borrower in writing of the Bonds or portions thereof selected for redemption; , provided, however, that in connection with any redemption of Bonds the Paying Agent Trustee shall first select for redemption any Bonds held by the Tender Agent or the Remarketing Agent, if any Trustee for the account of the Company Borrower or held of record by the CompanyBorrower prior to any Bonds other than Bank Bonds or Liquidity Provider Bonds. If, as indicated in a certificate of an Authorized Borrower Representative delivered to the Trustee, the Borrower shall have offered to purchase all Bonds then outstanding and less than all such Bonds shall have been tendered to the Borrower for such purchase, the Trustee, at the direction of the Borrower, shall select for redemption all such Bonds regardless of whether such Bonds have been so tendered. If it is determined that one or more, but not all, of the portions units of principal amount represented by any such Bond is to be called for redemption, then, upon notice of intention to redeem such portion unit or portionsunits, the owner Owner of such Bond shall shall, except as provided in Section 2.13 hereof with respect to Book-Entry Bonds, forthwith surrender such Bond to the Paying Agent Trustee for (a) payment to such Bondowner Owner of the redemption price of the portion unit or portions units of principal amount called for redemption, and (b) delivery to such Bondowner Owner of a new Bond or Bonds in the aggregate principal amount of the unredeemed balance of the principal amount of the such Bond. New Bonds representing the unredeemed balance of the principal amount of such Bonds Bond shall be issued to the owner Owner thereof, without charge therefor. If the owner 37 surrender of such Bonds is required hereunder and the Owner of any such Bond shall fail to present such Bond to the Paying Agent Trustee for payment and exchange as aforesaid, such Bond shall, nevertheless, become due and payable payable, and interest thereon shall cease to accrue, on the date fixed for redemption to the extent of the portion unit or portions units of principal amount called for redemption (and to that extent only). Payment of the redemption price by the Borrower for any Bonds called for redemption constitutes full and complete payment of such Bonds. ARTICLE IV TENDER AND PURCHASE OF BONDS; REMARKETING; REMARKETING AGENT Section 4.01.

Selection of Bonds for Redemption. Subject to the provisions of Section 301(c)(vi) if If less than all of the Bonds are called for redemption, the Paying Agent Trustee shall select the Bonds or portions thereof to be redeemed, from the Bonds Outstanding not previously called for redemption, by lottery or in such other manner as in the Paying Agent's Trustee’s sole discretion it shall deem appropriate and fair, in either case in Authorized Denominations provided that Bank Bonds and Liquidity Provider Bonds shall be the first Bonds selected for redemption, and provided further that the aggregate principal amount of each Bond remaining Outstanding following such redemption shall be in an Authorized Denomination. The Paying Agent Trustee shall promptly notify the Authority Issuer and the Company Borrower in writing of the Bonds or portions thereof selected for redemption; , provided, however, that in connection with any redemption of Bonds the Paying Agent Trustee shall first select for redemption any Bonds held by the Tender Agent or the Remarketing Agent, if any Trustee for the account of the Company Borrower or held of record by the CompanyBorrower prior to any Bonds other than Bank Bonds or Liquidity Provider Bonds. If, as indicated in a certificate of an Authorized Borrower Representative delivered to the Trustee, the Borrower shall have offered to purchase all Bonds then outstanding and less than all such Bonds shall have been tendered to the Borrower for such purchase, the Trustee, at the direction of the Borrower, shall select for redemption all such Bonds regardless of whether such Bonds have been so tendered. If it is determined that one or more, but not all, of the portions units of principal amount represented by any such Bond is to be called for redemption, then, upon notice of intention to redeem such portion unit or portionsunits, the owner Owner of such Bond shall shall, except as provided in Section 2.13 hereof with respect to Book-Entry Bonds, forthwith surrender such Bond to the Paying Agent Trustee for (a) payment to such Bondowner Owner of the redemption price of the portion unit or portions units of principal amount called for redemption, and (b) delivery to such Bondowner Owner of a new Bond or Bonds in the aggregate principal amount of the unredeemed balance of the principal amount of the such Bond. New Bonds representing the unredeemed balance of the principal amount of such Bonds Bond shall be issued to the owner Owner thereof, without charge therefor. If the owner of any such Bond shall fail to present such Bond to the Paying Agent 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 portion or portions of principal amount called for redemption (and to that extent only).charge

Selection of Bonds for Redemption. Subject to the provisions of Section 301(c)(vi) if If less than all of the Bonds are called for redemption, the Paying Agent Trustee shall select the Bonds or portions thereof to be redeemed, from the Bonds Outstanding not previously called for redemption, by lottery or in such other manner as in the Paying Agent's Trustee’s sole discretion it shall deem appropriate and fair, in either case in Authorized Denominations provided that Bank Bonds and Liquidity Provider Bonds shall be the first Bonds selected for redemption, and provided further that the aggregate principal amount of each Bond remaining Outstanding following such redemption shall be in an Authorized Denomination. The Paying Agent Trustee shall promptly notify the Authority Issuer and the Company Borrower in writing of the Bonds or portions thereof selected for redemption; , provided, however, that in connection with any redemption of Bonds the Paying Agent Trustee shall first select for redemption any Bonds held by the Tender Agent or the Remarketing Agent, if any Trustee for the account of the Company Borrower or held of record by the CompanyBorrower prior to any Bonds other than Bank Bonds or Liquidity Provider Bonds. If, as indicated in a certificate of an Authorized Borrower Representative delivered to the Trustee, the Borrower shall have offered to purchase all Bonds then outstanding and less than all such Bonds shall have been tendered to the Borrower for such purchase, the Trustee, at the direction of the Borrower, shall select for redemption all such Bonds regardless of whether such Bonds have been so tendered. If it is determined that one or more, but not all, of the portions units of principal amount represented by any such Bond is to be called for redemption, then, upon notice of intention to redeem such portion unit or portionsunits, the owner Owner of such Bond shall shall, except as provided in Section 2.13 hereof with respect to Book-Entry Bonds, forthwith surrender such Bond to the Paying Agent Trustee for (a) payment to such Bondowner Owner of the redemption price of the portion unit or portions units of principal amount called for redemption, and (b) delivery to such Bondowner Owner of a new Bond or Bonds in the aggregate principal amount of the unredeemed balance of the principal amount of the such Bond. New Bonds representing the unredeemed balance of the principal amount of such Bonds Bond shall be issued to the owner Owner thereof, without charge therefor. If the owner surrender of such Bonds is required hereunder and the Owner of any such Bond shall fail to present such Bond to the Paying Agent Trustee for payment and exchange as aforesaid, such Bond shall, nevertheless, become due and payable payable, and interest thereon shall cease to accrue, on the date fixed for redemption to the extent of the portion unit or portions units of principal amount called for redemption (and to that extent only). Payment of the redemption prices by the Borrower for any Bonds called for redemption constitutes full and complete payment of such Bonds.