Common use of Effect of Redemption Clause in Contracts

Effect of Redemption. If notice of redemption shall have been duly given as provided in Section 3.02, the Securities or portions of Securities specified in such notice shall become due and payable on the Redemption Date and at the place or places stated in such notice at the Redemption Price specified in such notice, and on and after such Redemption Date (unless the Company and the Guarantor shall default in the payment of such Securities at the applicable Redemption Price) such Securities or portions of Securities shall cease to bear interest, and such Securities shall cease from and after the Redemption Date to be entitled to any benefit or security under this Indenture, and the Holders thereof shall have no right in respect of such Securities except the right to receive the Redemption Price thereof and any unpaid interest accrued to the Redemption Date. Upon presentation and surrender of such Securities at said place of payment in said notice specified, the said Securities or portions thereof shall be paid and redeemed by the Company or the Guarantor at the applicable Redemption Price, together with any interest accrued to the Redemption Date; provided, however, that any regular payment of interest becoming due on any Securities on the Redemption Date shall be payable to the registered owners of such Securities as of the relevant Record Date as provided in Article Two hereof. Upon presentation of any Security which is redeemed in part only, the Company shall execute a new Security and the Trustee shall authenticate and deliver at the expense of the Company a new Security of the same Series of authorized denomination in principal amount equal to the unredeemed portion of the Security so presented. If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal shall, to the extent permitted by law, bear interest from the date fixed for redemption at the rate borne by the Security, or, in the case of a Security which does not bear interest, at the rate of interest set forth therefor in the Security, in either case, until paid.

Effect of Redemption. If notice of redemption shall have been duly given as provided in Section 3.02, the Securities or portions of Securities specified in such notice shall become due and payable on the Redemption Date and at the place or places stated in such notice at the Redemption Price specified in such notice, and on and after such Redemption Date (unless the Company and the Guarantor shall default in the payment of such Securities at the applicable Redemption Price) such Securities or portions of Securities shall cease to bear interest, and such Securities shall cease from From and after the Redemption Date to be entitled to any benefit or security under this IndentureDate, and the Holders thereof -------------------- unless there shall have no right been a default in respect payment of the Redemption Price, all rights of the holders of such Securities shares as holders of Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock or Series F Preferred Stock (except the right to receive the their respective Redemption Price thereof and any unpaid without interest accrued to the Redemption Date. Upon presentation and upon surrender of their certificate or certificates) shall cease with respect to such Securities at said place shares, and such shares shall not thereafter be transferred on the books of payment in said notice specifiedthe Corporation or be deemed to be outstanding for any purpose whatsoever. If the funds of the Corporation legally available for redemption of shares of Series C Preferred Stock, the said Securities Series D Preferred Stock, Series E Preferred Stock or portions thereof shall be paid and redeemed by the Company or the Guarantor at the applicable Redemption Price, together with any interest accrued to the Redemption Date; provided, however, that any regular payment of interest becoming due Series F Preferred Stock on any Securities on the Redemption Date shall are insufficient to redeem the total number of shares of Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock or Series F Preferred Stock to be payable redeemed on such date, those funds which are legally available will be used to redeem the registered owners maximum possible number of such Securities shares pro rata as described in Section D.4. The shares of Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock or Series F Preferred Stock not redeemed shall remain outstanding and be entitled to all the rights and preferences provided herein. At any time thereafter when additional funds of the relevant Record Date as provided in Article Two hereof. Upon presentation Corporation are legally available for the redemption of any Security which is redeemed in part onlyshares of Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock or Series F Preferred Stock, such funds will immediately be set aside for the Company shall execute a new Security and the Trustee shall authenticate and deliver at the expense redemption of the Company a new Security balance of the same shares which the Corporation has become obligated to redeem on any Redemption Date but which it has not redeemed; provided that the holders of such Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock or Series F Preferred Stock shall receive at least 30 days notice of authorized denomination in principal amount equal to the unredeemed portion of the Security so presented. If any Security called for redemption shall not be so paid upon surrender thereof for such redemption, the principal shall, to the extent permitted by law, bear interest from the date fixed for redemption at the rate borne by the Security, or, in the case of a Security which does not bear interest, at the rate of interest set forth therefor in the Security, in either case, until paid.

Effect of Redemption. If notice of redemption shall have Notice having been duly given as provided aforesaid, and the moneys for the redemption, including premium, if any and interest to the applicable date of redemption, having been set aside in Section 3.02the Lease Payment Account, the Securities or portions of Securities specified in such notice Certificates to be redeemed shall become due and payable on the Redemption Date said date of redemption, and, upon presentation and surrender thereof at the place office or places stated offices specified in such notice said notice, said Certificates shall be paid at the Redemption Price specified in unpaid principal amount thereof, plus premium due, if any, plus any unpaid and accrued interest to said date of redemption. If, on said date of redemption, moneys for the redemption of all the Certificates to be redeemed, together with interest to said date of redemption, shall be held by the Trustee so as to be available therefor on such noticedate of redemption, and on then, from and after such Redemption Date (unless said date of redemption, interest on the Company and the Guarantor shall default in the payment of such Securities at the applicable Redemption Price) such Securities or portions of Securities Certificates to be redeemed shall cease to accrue and become payable. If said moneys shall not be available on said date of redemption, such Certificates shall continue to bear interestinterest until paid at the same rates as they would have borne had they not been notified for redemption. All moneys held by or on behalf of the Trustee for the redemption of particular Certificates shall be held in trust for the account of the Owners of the Certificates so to be redeemed for a period ending two years and eleven months from the date of redemption. All such moneys held by the Trustee at the end of such period, shall be paid to the School District, and such Securities shall cease from and after thereafter the Redemption Date to be entitled to any benefit or security under this Indenture, and the Holders thereof Trustee shall have no right in respect responsibility for the redemption of such Securities except the right to receive the Redemption Price thereof and any unpaid interest accrued to the Redemption Date. Upon presentation and surrender of such Securities at said place of payment in said notice specified, the said Securities or portions thereof shall be paid and redeemed by the Company or the Guarantor at the applicable Redemption Price, together with any interest accrued to the Redemption Date; provided, however, that any regular payment of interest becoming due on any Securities on the Redemption Date shall be payable to the registered owners of such Securities as of the relevant Record Date as provided in Article Two hereof. Upon presentation of any Security which is redeemed in part only, the Company shall execute a new Security and the Trustee shall authenticate and deliver at the expense of the Company a new Security of the same Series of authorized denomination in principal amount equal to the unredeemed portion of the Security so presented. If any Security called Certificates presented for redemption shall not be so paid upon surrender thereof for redemption, the principal shall, to the extent permitted by law, bear interest from the date fixed for redemption at the rate borne by the Security, or, in the case of a Security which does not bear interest, at the rate of interest set forth therefor in the Security, in either case, until paidafter such date.

Effect of Redemption. If notice of redemption shall have been duly given as provided in Section 3.02, the Subordinated Securities or portions of Subordinated Securities specified in such notice shall become due and payable on the Redemption Date and at the place or places stated in such notice at the Redemption Price specified in such notice, and on and after such Redemption Date (unless the Company and the Guarantor shall default in the payment of such Subordinated Securities at the applicable Redemption Price) such Subordinated Securities or portions of Subordinated Securities shall cease to bear interest, and such Subordinated Securities shall cease from and after the Redemption Date to be entitled to any benefit or security under this Subordinated Indenture, and the Holders thereof shall have no right in respect of such Subordinated Securities except the right to receive the Redemption Price thereof and any unpaid interest accrued to the Redemption Date. Upon presentation and surrender of such Subordinated Securities at said place of payment in said notice specified, the said Subordinated Securities or portions thereof shall be paid and redeemed by the Company or the Guarantor at the applicable Redemption Price, together with any interest accrued to the Redemption Date; provided, however, that any regular payment of interest becoming due on any Subordinated Securities on the Redemption Date shall be payable to the registered owners of such Subordinated Securities as of the relevant Relevant Record Date as provided in Article Two hereof. Upon presentation of any Subordinated Security which is redeemed in part only, the Company shall execute a new Subordinated Security and the Trustee shall authenticate and deliver at the expense of the Company a new Subordinated Security of the same Series of authorized denomination in principal amount equal to the unredeemed portion of the Subordinated Security so presented. If any Subordinated Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal thereof shall, to the extent permitted by law, bear interest from the date fixed for redemption at the rate borne by the Subordinated Security, or, in the case of a Subordinated Security which does not bear interest, at the rate of interest set forth therefor in the Security, Subordinated Security in either case, until paid.

Effect of Redemption. If notice of redemption shall have been duly given as provided in Section 3.02, the Securities or portions of Securities specified in such notice shall become due and payable on the Redemption Date and at the place or places stated in such notice at the Redemption Price specified in such notice, and on and after such Redemption Date (unless the Company and the Guarantor shall default in the payment of such Securities at the applicable Redemption Price) such Securities or portions of Securities shall cease to bear interest, and such Securities shall cease from and after the Redemption Date to be entitled to any benefit or security under this Indenture, and the Holders thereof shall have no right in respect of such Securities except the right to receive the Redemption Price thereof and any unpaid interest accrued to the Redemption Date. Upon presentation and surrender of such Securities at said place of payment in said notice specified, the said Securities or portions thereof shall be paid and redeemed by the Company or the Guarantor at the applicable Redemption Price, together with any interest accrued to the Redemption Date; provided, however, that any regular payment of interest becoming due on any Securities on the Redemption Date shall be payable to the registered owners of such Securities as of the relevant Relevant Record Date as provided in Article Two hereof. Upon presentation of any Security which is redeemed in part only, the Company shall execute a new Security and the Trustee shall authenticate and deliver at the expense of the Company a new Security of the same Series of authorized denomination in principal amount equal to the unredeemed portion of the Security so presented. If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal thereof shall, to the extent permitted by law, bear interest from the date fixed for redemption at the rate borne by the Security, or, in the case of a Security which does not bear interest, at the rate of interest set forth therefor in the Security, Security in either case, until paid.

Effect of Redemption. If notice of redemption shall have been duly given as provided in Section 3.023.2, the Subordinated Securities or portions of Subordinated Securities specified in such notice shall become due and payable on the Redemption Date and at the place or places stated in such notice at the Redemption Price specified in such notice, and on and after such Redemption Date (unless the Company and the Guarantor Corporation shall default in the payment of such Subordinated Securities at the applicable Redemption Price) such Subordinated Securities or portions of Subordinated Securities shall cease to bear interest, and such Subordinated Securities shall cease from and after the Redemption Date to be entitled to any benefit or security under this Subordinated Indenture, and the Holders thereof shall have no right in respect of such Subordinated Securities except the right to receive the Redemption Price thereof and any unpaid interest accrued to the Redemption Date. Upon presentation and surrender of such Subordinated Securities at said place of payment in said notice specified, the said Subordinated Securities or portions thereof shall be paid and redeemed by the Company or the Guarantor Corporation at the applicable Redemption Price, together with any interest accrued to the Redemption Date; providedPROVIDED, howeverHOWEVER, that any regular payment of interest becoming due on any Subordinated Securities on the Redemption Date shall be payable to the registered owners of ownersof such Subordinated Securities as of the relevant Relevant Record Date as provided in Article Two hereof. Upon presentation of any Subordinated Security which is redeemed in part only, the Company Corporation shall execute a new Subordinated Security and the Trustee shall authenticate and deliver at the expense of the Company Corporation a new Subordinated Security of the same Series of authorized denomination in principal amount equal to the unredeemed portion of the Subordinated Security so presented. If the Company shall fail to timely deposit the applicable Redemption Price with the Trustee and if any Subordinated Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal thereof shall, to the extent permitted by law, bear interest from the date fixed for redemption at the rate borne by the Subordinated Security, or, in the case of a Subordinated Security which does not bear interest, at the rate of interest set forth therefor in the Subordinated Security, in either case, case until paid.

Effect of Redemption. If notice of redemption shall have been duly given as provided in Section 3.023.2, the Securities or portions of Securities specified in such notice shall become due and payable on the Redemption Date and at the place or places stated in such notice at the Redemption Price specified in such notice, and on and after such Redemption Date (unless the Company and the Guarantor Corporation shall default in the payment of such Securities at the applicable Redemption Price) such Securities or portions of Securities shall cease to bear interest, and such Securities shall cease from and after the Redemption Date to be entitled to any benefit or security under this Indenture, and the Holders thereof shall have no right in respect of such Securities except the right to receive the Redemption Price thereof and any unpaid interest accrued to the Redemption Date. Upon presentation and surrender of such Securities at said place of payment in said notice specified, the said Securities or portions thereof shall be paid and redeemed by the Company or the Guarantor Corporation at the applicable Redemption Price, together with any interest accrued to the Redemption Date; providedPROVIDED, howeverHOWEVER, that any regular payment of interest becoming due on any Securities on the Redemption Date shall be payable to the registered owners of such Securities as of the relevant Relevant Record Date as provided in Article Two hereof. Upon presentation of any Security which is redeemed in part only, the Company Corporation shall execute a new Security and the Trustee shall authenticate and deliver at the expense of the Company Corporation a new Security of the same Series of authorized denomination in principal amount equal to the unredeemed portion of the Security so presented. If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal thereof shall, to the extent permitted by law, bear interest from the date fixed for redemption at the rate borne by the Security, or, in the case of a Security which does not bear interest, at the rate of interest set forth therefor in the Security, in either case, case until paid.