Selection of Notes to Be Redeemed in Part Clause Samples
The 'Selection of Notes to Be Redeemed in Part' clause defines the process by which a portion of outstanding notes, rather than the entire issuance, may be chosen for redemption by the issuer. Typically, this involves a fair and impartial method, such as a pro rata allocation or random selection, to determine which specific notes or noteholders will be affected. This clause ensures that the partial redemption is conducted transparently and equitably, preventing arbitrary or unfair selection, and thereby protects the interests of all noteholders.
Selection of Notes to Be Redeemed in Part. (a) If the Issuer is not redeeming all Outstanding Notes, the Trustee shall select the Notes to be redeemed in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed or, if the Notes are not then listed on a national securities exchange, on a pro rata basis, by lot or by any other method as the Trustee shall deem fair and appropriate; provided, however, that if a partial redemption is made with the proceeds of an Equity Offering, selection of the Notes, or portions of the Notes, for redemption shall be made by the Trustee only on a pro rata basis, or on as nearly a pro rata basis as is practicable (subject to the procedures of DTC), unless the method is otherwise prohibited. The Trustee shall make the selection from the then Outstanding Notes not previously called for redemption. The Trustee shall promptly notify the Issuer in writing of the Notes selected for redemption and, in the case of any Notes selected for partial redemption, the principal amount of the Notes to be redeemed. In the event of a partial redemption by lot, the Trustee shall select the particular Notes to be redeemed not less than 30 nor more than 60 days prior to the relevant Redemption Date from the then Outstanding Notes not previously called-for redemption. No Notes of U.S.$200,000 principal amount or less shall be redeemed in part. The Trustee may select for redemption portions with minimum denominations of U.S.$200,000 and in integral multiples of U.S.$1,000 in excess thereof.
(b) For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to redemption of Notes shall relate, in the case of any Note redeemed or to be redeemed only in part, to the portion of the principal amount of that Note which has been or is to be redeemed.
Selection of Notes to Be Redeemed in Part. If the Issuer is not redeeming all outstanding Notes, the Trustee shall select the Notes to be redeemed in compliance with the requirements of the principal securities exchange or market, if any, on which the Notes are listed or, if the Notes are not then listed on a securities exchange or market, on a pro rata basis, or by any other method as the Trustee shall deem fair and appropriate (subject to the procedures of any applicable clearing systems including DTC).
Selection of Notes to Be Redeemed in Part. If less than all Notes then outstanding are called for Redemption, then:
(i) the Notes to be redeemed will be selected by the Issuer as follows: (1) in the case of Global Notes, in accordance with the Depositary Procedures and, if no such Depositary Procedures apply, pro rata, by lot or by such other method the Issuer considers fair and appropriate; and (2) in the case of Physical Notes, pro rata, by lot or by such other method the Issuer considers fair and appropriate; and
(ii) [Reserved].
Selection of Notes to Be Redeemed in Part. (a) If the Company is not redeeming all Outstanding Notes, the Trustee shall select the Notes to be redeemed in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed or, if the Notes are not then listed on a national securities exchange, by lot or in another fair and reasonable manner chosen at the discretion of the Trustee. The Trustee shall make the selection from the Outstanding Notes not previously called for redemption. The Trustee shall promptly notify the Company in writing of the Notes selected for redemption and, in the case of any Notes selected for partial redemption, the principal amount of the Notes to be
Selection of Notes to Be Redeemed in Part. Section 5.5.
Selection of Notes to Be Redeemed in Part. (a) If fewer than all of the Notes are being redeemed, the Notes to be redeemed shall be selected as follows: (1) if the Notes are listed on an exchange, in compliance with the requirements of such exchange or (2) on a pro rata basis to the extent practicable, or, if the pro rata basis is not practicable for any reason, by lot or by such other method as most nearly approximates a pro rata basis, in each case as long as the Notes are in global form, subject to the Depositary’s customary procedures (in integral multiples of U.S.$1,000; provided that the remaining principal amount of such Holder’s Note will not be less than U.S.$200,000).
(b) For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to redemption of Notes shall relate, in the case of any Note redeemed or to be redeemed only in part, to the portion of the principal amount of that Note which has been or is to be redeemed.