Indenture of Trust (1996) - Laserfiche WebLink

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ARTICLE IV REDEMPTION OF BONDS Section 4.01. Terms of Redemption. (a) Mandatory Redemption From Optional Prepayment of Lease Payments. The Bonds maturing on or after August 1, 2007, shall be subject to mandatory redemption as a whole or in part, upon ninety (90) days written notice to the Trustee by a Member of its intention to optionally prepay its Lease Payments, on any date on or after August 1, 2006, from any available source of funds of the Member so electing to prepay, at the following redemption prices (expressed as a percentage of the principal amount of the Bonds to be redeemed) together with accrued interest thereon to the date fixed for redemption: Redemption Period Redemption Price August 1,2006 through July 31,2007 102% August 1,2007 through July 31,2008 101 August 1, 2008 and thereafter 100 Any such redemption shall be in such order of maturity as the Member electing to prepay its lease Payments shall designate (and, if no specific order of redemption is designated by such Member, in inverse order of maturity); provided, however, that only Bonds in which such Member has an interest (see Exhibit E attached hereto) may be redeemed by such Member's election. (b) Special Mandatory Redemption From Insurance or Condemnation Proceeds. The Bonds shall also be subject to redemption as a whole, or in part on a pro rata basis among maturities, on any date, to the extent the Trustee has received title or hazard insurance proceeds or condemnation proceeds not used to repair or replace any portion of the Leased Premises of a Member damaged or destroyed and elected by such Member, to be used for such purpose as provided in Section 5.07, at a redemption price equal to one hundred percent (100%) the principal amount thereof plus interest accrued thereon to the date fixed for redemption,without premium. Section 4.02. Selection of Bonds for Redemption. Whenever provision is made in this Indenture for the redemption of less than all of the Bonds of a particular maturity, the Trustee shall select the Bonds to be redeemed from all Bonds of such maturity or such given portion thereof not previously called for redemption,by lot in any manner which the Trustee in its sole discretion shall deem appropriate and fair. For purposes of such selection, the Trustee shall treat each Bond as consisting of separate$5,000 portions and each such portion shall be subject to redemption as if such portion were a separate Bond. Section 4.03.Notice of Redemption. Notice of redemption shall be mailed by first class mail, postage prepaid, not less than thirty (30) nor more than sixty (60) days before any redemption date, to the respective Owners of any Bonds designated for redemption at their • addresses appearing on the Registration Books, and to the Securities Depositories and to the Information Services. Each notice of redemption shall state the date of the notice, the redemption date, the place or places of redemption, whether less than all of the Bonds (or all Bonds of a single maturity) are to be redeemed, the CUSIP numbers and (in the event that not all Bonds within a maturity are called for redemption) Bond numbers of the Bonds to be redeemed, the maturity or maturities of the Bonds to be redeemed and in the case of Bonds to be redeemed in part only, the respective portions of the principal amount thereof to be redeemed. Each such notice shall also state that on the redemption date there will become due -19-