Tax Redemption Event means a change (including an announced prospective change) in or amendment to the laws (or any regulations or rulings promulgated thereunder) of the United States or any political subdivision or taxing authority thereof or therein or any change (including an announced prospective change) in official position regarding the application or interpretation of such laws, regulations or rulings (including a holding by a court of competent jurisdiction), which change or amendment is announced or becomes effective on or after the date hereof, and which, in the written opinion of legal counsel of recognized standing to the Issuer, has resulted or will result (assuming, in the case of any announced prospective change, that such change will become effective as of the date specified in such announcement and in the form announced) in the Issuer, the Parent or any Subsidiary Guarantor, as the case may be, becoming obligated to pay, on the next succeeding date on which principal, premium, if any, or interest is due, any Additional Amounts; provided that, the Issuer, the Parent or such Subsidiary Guarantor (or its successor), as the case may be, in its business judgment, determines that such obligation cannot be avoided by the use of reasonable measures available to it (or its successor).
Tax Redemption Event has the meaning set forth in the Issuer Partnership Agreement.
In addition, if a Tax Redemption Event has occurred and the Redemption Treasury Portfolio has become part of the Corporate Units, Purchase Contracts underlying the Corporate Units may be settled early but only in an aggregate amount of 20 Corporate Units or another integral multiple such that the Treasury Securities to be released are in integral multiples of $1,000.
Other than with respect to a redemption resulting from the occurrence of a Tax Redemption Event, Canadian Denominated Securities in denominations larger than Cdn.$1,000 principal amount may be redeemed in part but only in whole multiples of Cdn.$1,000.
Other than with respect to a redemption resulting from the occurrence of a Tax Redemption Event, Series A Notes in denominations larger than Cdn.
The circumstances under which the -80- 89 Company has the right to prepay the Securities in connection with a Tax Event is referred to herein as a "Conditional Tax Redemption Event" and, since a Conditional Tax Redemption Event is deemed to be a Special Event, the Securities shall then be subject to prepayment in accordance with the provisions of Section 14.01.