6.6.1 must specify the number (which must be a whole number) and type of Industrial Metal Securities to be Redeemed;
6.6.2 must relate to only one type of Individual Security or Basket Security; 6.6.3 must comply with Condition 6.13 (Redemption Limits);
6.6.4 must (in the case of Redemption by an Authorised Participant which either has entered into an AP TRS Master Confirmation with the Issuer or is the Metal Agent) specify whether Early Delivery is to apply in respect of such Redemption and if Early Delivery is to apply in respect of such Redemption must be accompanied by an AP TRS Confirmation signed by the Issuer and the Authorised Participant;
6.6.5 must be signed by, or by an authorised signatory on behalf of, the Security Holder; 6.6.6 must specify (i) (if Metal Delivery applies in respect of any of the Industrial Metal Securities
to be Redeemed) the Security Holder Metal Account to which LME Warrants to be delivered on Redemption should be transferred and (ii) the Security Holder Cash Account
6.7 Upon receipt by the Administrator of a valid Redemption Form from a Security Holder in relation to any Industrial Metal Securities, the Issuer shall do all things necessary to give effect to the Redemption Form as required by this Condition 6 (Redemption of Industrial Metal Securities). 6.8 A Redemption Form shall (unless and to the extent the Issuer otherwise agrees generally or in
any particular case or cases) be invalid:
6.8.1 if lodged by a Security Holder who is not an Authorised Participant unless on that Business Day, there are no Authorised Participants or such Redemption by such Security Holder is valid in accordance with Condition 6.4.2; or
6.8.2 if it does not satisfy each and all of Conditions 6.6.1 to 6.6.6; or
6.8.3 to the extent that the number of Industrial Metal Securities of that type or in aggregate to be Redeemed would result in a Redemption Limit being exceeded, and the Metal Agent and the Issuer do not agree to that Redemption Limit being exceeded (in which event such Redemption Form will not be capable of being invalidated under this Condition 6.8.3 in respect of the greatest number of Industrial Metal Securities of the relevant type or types that would not result in the Redemption Limit being exceeded); or
6.8.4 where notice has been given pursuant to Condition 7.1 (Compulsory Redemption on Termination), Condition 7.2 (Compulsory Redemption on Issuer Insolvency Event) or Condition 7.3 (Compulsory Redemption on a fall in the Price relative to the Principal Amount) to redeem such Industrial Metal Securities compulsorily, if the Redemption Form is received or deemed received on or after:
(a) where notice has been given in accordance with Condition 7.1, the Final Redemption Notice Date; or
(b) where notice has been given under Condition 7.2 or Condition 7.3, the date on which notice was given; or
6.8.5 if it is invalid pursuant to Condition 6.19.3,
and, save as provided in Condition 6.8.3 or as so agreed, no Industrial Metal Securities of the relevant type shall be Redeemed in respect of or under that Redemption Form.
6.9 If the Issuer considers that a purported Redemption Form is invalid, it shall notify the Security Holder lodging that Redemption Form of that fact as soon as reasonably possible and shall not be obliged to Redeem pursuant to that Redemption Form any Industrial Metal Securities. 6.10 A Redemption Form received by the Issuer after 4.00 p.m. (London time) on a Business Day shall
be treated as lodged on the immediately following Business Day.
6.11 The Issuer may change or vary the procedures for the lodgement of Redemption Forms and these Conditions shall be modified in respect of Redemptions to the extent of any such variation. 6.12 Cash Payment
Where, pursuant to any Redemption Form or otherwise where this Condition is expressed to apply, any Industrial Metal Securities are in accordance with these Conditions to be Redeemed by Cash Payment:
6.12.1 the Issuer shall (subject to Condition 6.12.6) direct the Metal Agent pursuant to the relevant Metal Agent Agreement to subscribe for the same number and type of Industrial Metal Securities as those to be Redeemed by Cash Payment pursuant to that Redemption Form at the Price for such Industrial Metal Securities on the Redemption Notice Date for such Redemption for settlement on such Redemption Notice Date; 6.12.2 where a Metal Agent is required to subscribe for a number of Industrial Metal Securities
of any type that is not a whole number, the part of an Industrial Metal Security shall be paid for (and the proceeds applied as provided in these Conditions) but such part shall
previously become entitled shall be aggregated and carried forward and any resulting whole numbers of such Industrial Metal Securities shall be issued to the relevant Metal Agent on demand therefor);
6.12.3 the Redemption Amount with respect to a Redemption by Cash Payment shall be the amount (in US dollars) equal to the sum of the amounts determined in accordance with Condition 6.2.4, Condition 6.5.4, Condition 6.17.3, Condition 7.8.3(d) or Condition 7.8.4(g) in respect of all the Individual Securities or Basket Securities thereby Redeemed, less any amounts to be withheld or deducted pursuant to Condition 8.6 and less any amounts which the Issuer is entitled to deduct pursuant to Condition 6.14.1, Condition 6.14.5, or Condition 8.2;
6.12.4 the Issuer will pay to the relevant Security Holder the Redemption Amount on the Settlement Date or if later, as and when received from the relevant Metal Agent or other person, subject to the Security Holder having delivered all the Industrial Metal Securities to be Redeemed pursuant to that Redemption Form to the Issuer by either depositing them into an appropriate CREST account in the name of the Issuer or the Registrar (as directed by the Issuer) and giving correct delivery free of payment instructions in CREST or delivering the certificates in respect of them to the Administrator (or otherwise having delivered such Industrial Metal Securities to the Issuer by agreement with the Issuer). If the Security Holder fails to deposit the Industrial Metal Securities into an appropriate CREST account and give correct delivery free of payment instructions in CREST or otherwise so deliver the Industrial Metal Securities to the Issuer, the Issuer may retain the proceeds otherwise payable until the Security Holder has so deposited or delivered the Industrial Metal Securities and then remit such proceeds (without interest, which shall be for the account of the Issuer) to the Security Holder in accordance with this Condition; 6.12.5 settlement in respect of the Redemption Amount shall be made by payment of the
Redemption Amount into the applicable Security Holder Cash Account in accordance with Condition 8 (Settlement and Redemption Obligations);
6.12.6 the Issuer may (instead of complying with Condition 6.12.1) procure a Metal Agent or any other person to purchase such Industrial Metal Securities for cash at the Price for such Industrial Metal Securities on the Redemption Notice Date for such Redemption for settlement on such Redemption Notice Date and for that purpose Condition 11 (Satisfaction of Redemption Forms by Transfer) shall apply mutatis mutandis; and 6.12.7 where in respect of any Redemption Form only some of the Industrial Metal Securities
are to be Redeemed by Cash Payment and some by Metal Delivery, the Issuer may delay settlement of the Redemption Amount until it is satisfied that any LME Warrants to be delivered in respect of Industrial Metal Securities to be Redeemed pursuant to such Redemption Form by Metal Delivery have been accepted into the applicable Security Holder Metal Account.