Common use of Selection of Securities for Redemption Clause in Contracts

Selection of Securities for Redemption. If less than all of the Securities are to be redeemed at any time, selection of the Securities to be redeemed will be made by the Trustee from among the outstanding Securities on a pro rata basis, by lot or by any other method permitted in the Indenture; provided that in the case of a redemption with the net cash proceeds of an Equity Offering pursuant to the immediately preceding paragraph, selection shall be made on a pro rata basis.

Appears in 6 contracts

Samples: Indenture (United Refining Co), Indenture (United Refining Co), Indenture (Independent Gasoline & Oil Co of Rochester)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.