Common use of Selection of Securities to Be Redeemed or Purchased Clause in Contracts

Selection of Securities to Be Redeemed or Purchased. If less than all outstanding Securities are to be redeemed or if less than all Securities tendered pursuant to an Offer are to be accepted for payment, the Trustee shall select the outstanding Securities to be redeemed or accepted for payment pro rata, by lot or by a method that complies with the requirements of any stock exchange on which the Securities are listed and that the Trustee considers fair and appropriate. If the Company elects to mail notice of a redemption to Holders, the Trustee shall at least 5 business days prior to the date notice of redemption is to be mailed, (i) select the Securities to be redeemed from Securities outstanding not previously called for redemption, and (ii) notify the Company of the names of each Holder of Securities selected for redemption, the principal amount of Securities held by each such Holder and the principal amount of such Holder's Securities that are to be redeemed. If less than all Securities tendered pursuant to an Offer on the Purchase Date are to be accepted for payment, the Trustee shall select on or promptly after the Purchase Date the Securities to be accepted for payment. The Trustee shall select for redemption or purchase Securities or portions of Securities in principal amounts of $1,000 or integral multiples of $1,000; except that if all of the Securities of a Holder are selected for redemption or purchase, the aggregate principal amount of the Securities held by such Holder, even if not a multiple of $1,000, shall be redeemed or purchased. Except as provided in the preceding sentence, provisions of this Indenture that apply to Securities called for redemption or tendered pursuant to an Offer also apply to portions of Securities called for redemption or tendered pursuant to an Offer. The Trustee shall notify the Company promptly of the Securities or portions of Securities to be called for redemption or selected for purchase.

Appears in 1 contract

Samples: Jordan Industries Inc

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Selection of Securities to Be Redeemed or Purchased. If less than all outstanding of the Securities are to be redeemed or repurchased at any time, selection of Securities for redemption or repurchase will be made by the Trustee in compliance with the requirements of the principal national securities exchange, if less than all any, on which the Securities tendered pursuant to an Offer are to be accepted for paymentlisted, or, if the Securities are not so listed, on a pro rata basis, by lot or by such other method as the Trustee shall select deem fair and appropriate; provided that no Securities of $1,000 principal amount or less shall be redeemed or repurchased in part. Notices of redemption or repurchase shall be mailed by first class mail at least 30 but not more than 60 days before the outstanding redemption date or repurchase date to each Holder of Securities to be redeemed or accepted for payment pro rata, by lot repurchased at its registered address. Notices of redemption or by a method that complies with the requirements of any stock exchange on which the Securities are listed and that the Trustee considers fair and appropriaterepurchase may not be conditional. If the Company elects any Security is to mail notice of a redemption to Holdersbe redeemed or repurchased in part only, the Trustee shall at least 5 business days prior to the date notice of redemption is or repurchase that relates to be mailed, (i) select such Security shall state the Securities portion of the principal amount thereof to be redeemed from Securities outstanding not previously called for redemption, and (ii) notify or repurchased. A new Security in principal amount equal to the Company unredeemed or unpurchased portion thereof will be issued in the name of the names of each Holder of Securities selected for redemption, the principal amount of Securities held by each such Holder and the principal amount of such Holder's Securities that are to be redeemed. If less than all Securities tendered pursuant to an Offer on the Purchase Date are to be accepted for payment, the Trustee shall select on or promptly after the Purchase Date the Securities to be accepted for payment. The Trustee shall select for redemption or purchase Securities or portions of Securities in principal amounts of $1,000 or integral multiples of $1,000; except that if all thereof upon cancellation of the Securities of a Holder are selected for redemption or purchase, the aggregate principal amount of the Securities held by such Holder, even if not a multiple of $1,000, shall be redeemed or purchasedoriginal Security. Except as provided in the preceding sentence, provisions of this Indenture that apply to Securities called for redemption or tendered pursuant repurchase become due on the date fixed for redemption or repurchase. On and after the redemption date or repurchase date, interest and Liquidated Damages, if any, will cease to an Offer also apply to accrue on Securities or portions of Securities them called for redemption or tendered pursuant to an Offer. The Trustee shall notify repurchase unless the Company promptly of defaults in making the Securities or portions of Securities to be called for redemption or selected for purchaserepurchase payment.

Appears in 1 contract

Samples: Advance Auto Parts Inc

Selection of Securities to Be Redeemed or Purchased. If less than all outstanding the Securities are to be redeemed or if less than all the Securities tendered pursuant to an Offer are to be accepted for payment, the Trustee shall select the outstanding Securities to be redeemed or accepted for payment pro rata, by lot or by a method that complies with the requirements of any stock exchange exchange, if any, on which the Securities are listed and that the Trustee considers fair and appropriate. If the Company elects to mail notice of a redemption to Holders, the Trustee shall at least 5 business days prior to the date notice of redemption is to be mailed, (i) select the Securities to be redeemed from Securities outstanding not previously called for redemption, and (ii) notify the Company of the names of each Holder of Securities selected for redemption, the principal amount of Securities held by each such Holder and the principal amount of such Holder's Securities that are to be redeemed. If less than all Securities tendered pursuant to an Offer on the Purchase Date are to be accepted for payment, the Trustee shall select on or promptly after the Purchase Date the Securities to be accepted for payment. The Trustee shall select for redemption or purchase Securities or portions of Securities in principal amounts of $1,000 or integral multiples of $1,000; except that if all of the Securities of a Holder are selected for redemption or purchase, the aggregate principal entire outstanding amount of the Securities held by such Holder, even if not a multiple of $1,000, shall be redeemed or purchased. Except as provided in the preceding sentence, provisions of this Indenture that apply to Securities called for redemption or tendered pursuant to an Offer also apply to portions of Securities called for redemption or tendered pursuant to an Offer. The Trustee shall notify the Company promptly of the Securities or portions of Securities to be called for redemption or selected for purchase.

Appears in 1 contract

Samples: Restricted Stock Agreement (Jordan Industries Inc)

Selection of Securities to Be Redeemed or Purchased. If less than all outstanding the Securities are to be redeemed or if less than all the Securities tendered pursuant to an Offer are to be accepted for payment, the Trustee shall select the outstanding Securities to be redeemed or accepted for payment pro rata, by lot or by a method that complies with the requirements of any stock exchange exchange, if any, on which the Securities or the Series B Notes are listed and that the Trustee considers fair and appropriateappropriate and for this purpose the Trustee shall consider the Securities and the Series B Notes together as one series. If the Company elects to mail notice of a redemption to Holders, the Trustee shall at least 5 business days prior to the date notice of redemption is to be mailed, (i) select the Securities to be redeemed from Securities outstanding not previously called for redemption, and (ii) notify the Company of the names of each Holder of Securities selected for redemption, the principal amount of Securities held by each such Holder and the principal amount of such Holder's Securities that are to be redeemed. If less than all Securities tendered pursuant to an Offer on the Purchase Date are to be accepted for payment, the Trustee shall select on or promptly after the Purchase Date the Securities to be accepted for payment. The Trustee shall select for redemption or purchase Securities or portions of Securities in principal amounts of $1,000 or integral multiples of $1,000; except that if all of the Securities of a Holder are selected for redemption or purchase, the aggregate principal entire outstanding amount of the Securities held by such Holder, even if not a multiple of $1,000, shall be redeemed or purchased. Except as provided in the preceding sentence, provisions of this Indenture that apply to Securities called for redemption or tendered pursuant to an Offer also apply to portions of Securities called for redemption or tendered pursuant to an Offer. The Trustee shall notify the Company promptly of the Securities or portions of Securities to be called for redemption or selected for purchase.

Appears in 1 contract

Samples: Indenture (Jordan Industries Inc)

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Selection of Securities to Be Redeemed or Purchased. If less than all outstanding Securities are to be redeemed or if less than all Securities tendered pursuant to an Offer are to be accepted for payment, the Trustee shall select the outstanding Securities to be redeemed or accepted for payment pro rata, by lot or by a method that complies with the requirements of any stock exchange on which the Securities are listed and that the Trustee considers fair and appropriate. If the Company elects to mail notice of a redemption to Holders, the Trustee shall at least 5 business days prior to the date notice of redemption is to be mailed, (i) select the Securities to be redeemed from Securities outstanding not previously called for redemption, and (ii) notify the Company of the names of each Holder of Securities selected for redemption, the principal amount of Securities held by each such Holder and the principal amount of such Holder's Securities that are to be redeemed. If less than all Securities tendered pursuant to an Offer on the Purchase Date are to be accepted for payment, the Trustee shall select on or promptly after the Purchase Date the Securities to be accepted for payment. The Trustee shall select for redemption or purchase Securities or portions of Securities in principal amounts of $1,000 or integral multiples of at least $1,000; except that if all of the Securities of a Holder are selected for redemption or purchase, the aggregate principal amount of the Securities held by such Holder, even if not a multiple of $1,000, Holder shall be redeemed or purchased. Except as provided in the preceding sentence, provisions of this Indenture that apply to Securities called for redemption or tendered pursuant to an Offer also apply to portions of Securities called for redemption or tendered pursuant to an Offer. The Trustee shall notify the Company promptly of the Securities or portions of Securities to be called for redemption or selected for purchase.

Appears in 1 contract

Samples: Indenture (Jordan Industries Inc)

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