200804897 - Laserfiche WebLink

Browse

200804897 Section 5. Allocation in the Event of Partial Redemption. Subject to Article Ill, Section I above, in the case of each partial redemption ofthe First Mortgage Bonds of the 6.05% Series, the principal amount of the First Mortgage Bonds of the 6.05% Series to be redeemed shall be allocated among all of the First Mortgage Bonds of the 6.05% Series at the time Outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for redemption. Section 6. Maturity; Surrender, Etc. In the case of each redemption of First Mortgage Bonds of the 6.05% Series pursuant to this Article III, the principal amount of each First Mortgage Bond to be redeemed shall mature and become due and payable on the date fixed for such redemption (which shall be a Business Day), together with interest on such principal amount accrued to such date and the applicable Make-Whole Amount, if any. From and after such date, unless the Company shall fail to pay such principal amount when so due and payable, together with the interest and Make-Whole Amount, if any, as aforesaid, interest on such principal amount shall cease to accrue. Any First Mortgage Bond paid or redeemed in full shall be surrendered to the Trustee and cancelled and shall not be reissued, and no First Mortgage Bond shall be issued in lieu of any redeemed principal amount of any First Mortgage Bond. Section 7. Purchase of First Mortgage Bonds of the 6.05% Series. The Company will not and will not permit any Affiliate to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the Outstanding First Mortgage Bonds of the 6.05% Series except upon the payment or redemption of the First Mortgage Bonds of the 6.05% Series in accordance with the terms of the Indenture. The Company will promptly cancel all First Mortgage Bonds of the 6.05% Series acquired by it or any Affiliate pursuant to any payment or redemption of First Mortgage Bonds of the 6.05% Series pursuant to any provision of the Indenture and no First Mortgage Bonds of the 6.05% Series may be issued in substitution or exchange for any such First Mortgage Bonds of the 6.05% Series, except pursuant to Section 5.06 of the Original Indenture. Section 8. Make-Whole Amount. "Make-Whole Amount" means, with respect to any First Mortgage Bond of the 6.05% Series, an amount equal to the excess, if any, of the Discounted Value of the Remaining Scheduled Payments with respect to the Called Principal of such First Mortgage Bond over the amount of such Called Principal, provided that the Make-Whole Amount may in no event be less than zero. For the purposes of determining the Make-Whole Amount, the following terms have the following meanings: "Called Principal" means, with respect to any First Mortgage Bond of the 6.05% Series, the principal of such First Mortgage Bond that is to be redeemed pursuant to Section 4. "Discounted Value" means, with respect to the Called Principal of any First Mortgage Bond of the 6.05% Series, the amount obtained by discounting all Remaining Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor (applied on the same periodic basis as that on which interest on 4349724.11 9