Common use of Applicability of Article; Issuer's Option to Effect Defeasance or Covenant Defeasance Clause in Contracts

Applicability of Article; Issuer's Option to Effect Defeasance or Covenant Defeasance. If pursuant to Section 2.03 provision is made for either or both of (a) defeasance of the Securities of a series under Section 13.02 or (b) covenant defeasance of the Securities of a series under Section 13.03, then the provisions of such Section or Sections, as the case may be, together with the other provisions of this Article Thirteen, shall be applicable to the Securities of such series, and the Issuer may at its option elect at any time, with respect to the Debt Securities of such series, to have either Section 13.02 (if applicable) or Section 13.03 (if applicable) be applied to the outstanding Debt Securities of such series upon compliance with the conditions set forth below in this Article Thirteen.

Applicability of Article; Issuer's Option to Effect Defeasance or Covenant Defeasance. If pursuant to Section 2.03 provision is made for either or both of (a) defeasance of the Debt Securities of a series under Section 13.02 or (b) covenant defeasance of the Debt Securities of a series under Section 13.03, then the provisions of such Section or Sections, as the case may be, together with the other provisions of this Article Thirteen, shall be applicable to the Debt Securities of such series, and the Issuer may at its option elect at any time, with respect to the Debt Securities of such series, to have either Section 13.02 (if applicable) or Section 13.03 (if applicable) be applied to the outstanding Debt Securities of such series upon compliance with the conditions set forth below in this Article Thirteen.