Common use of Certain Adjustments to Installment Payments and Stated Maturity Clause in Contracts

Certain Adjustments to Installment Payments and Stated Maturity. (i) The principal amount of Bonds to be paid in installments on Installment Payment Dates and at Stated Maturity, and the Stated Maturity, shall be adjusted (a "Payment Adjustment") at the direction of the Company, so as to correlate, as to amounts and dates, to any adjustment to the principal amortization and maturity schedule of the Pledged Lessor Bonds issued under any Lease Indenture pursuant to Section 2.17 of such Lease Indenture; provided, however, that (A) no Payment Adjustment shall be made by the Company which will increase or decrease the average life of the Bonds (calculated in accordance with generally accepted financial practice from the date of initial issuance) by more than 6 months or extend the final maturity of the Bonds and (B) the Company shall be obligated to make such adjustment upon (and only upon) the direction of the Owner Trustee in accordance with Section 2(c) of the Participation Agreement. If the Company shall elect to make the foregoing adjustment, the Company shall deliver to the Trustee and ELI at least 40 days prior to the first payment date propxxxd to be affected by such adjustment, a Company Request (A) stating that the Company is obligated to make a Payment Adjustment as contemplated in this Section, (B) setting forth a revised maturity and Installment Payment Percentage schedule applicable to the Bonds as to which a Payment Adjustment is to be made, (C) attaching a copy of the revised principal schedule or schedules for the corresponding Pledged Lessor Bonds, and (D) attaching calculations showing that (x) the average life of the Bonds will not be reduced or increased except as permitted by this subsection (b), (y) the aggregate principal amount of the Pledged Lessor Bonds identified on Schedule 1 hereto equals the aggregate principal amount of the Bonds and (z) the principal amortization schedules of such Pledged Lessor Bonds are such as to provide funds sufficient to repay in full, as and when due, the principal of the Bonds as and when scheduled to become due, whether upon payment of applicable Installment Payment Amounts on Installment Payment Dates or at Stated Maturity. The Trustee may conclusively rely on such Company Request and shall have no duty with respect to the calculations referred to in the foregoing clause (D), other than to make them available for inspection by any Holder of Bonds at the Corporate Trust Office upon reasonable notice and during business hours. The Trustee shall, at the expense of ELI, send to each Holder of Bonds in respect of which a Xxyment Adjustment has been made at least 30 days before the first payment date to be affected thereby, by first class mail, a copy of a schedule of principal amounts of Bonds to be repaid after giving effect to such Payment Adjustment.

Certain Adjustments to Installment Payments and Stated Maturity. (i) The principal amount of Bonds to be paid in installments on Installment Payment Dates and at Stated Maturity, and the Stated Maturity, shall be adjusted (a "Payment Adjustment") at the direction of the Company, so as to correlate, as to amounts and dates, to any adjustment to the principal amortization and maturity schedule of the Pledged Lessor Bonds issued under any Lease Indenture pursuant to Section 2.17 of such Lease Indenture; provided, however, that (A) no Payment Adjustment shall be made by the Company which will increase or decrease the average life of the Bonds (calculated in accordance with generally accepted financial practice from the date of initial issuance) by more than 6 months or extend the final maturity of the Bonds and (B) the Company shall be obligated to make such adjustment upon (and only upon) the direction of the Owner Trustee in accordance with Section 2(c) of the Participation Agreement. If the Company shall elect to make the foregoing adjustment, the Company shall deliver to the Trustee and ELI XXX at least 40 days prior to the first payment date propxxxd proposed to be affected by such adjustment, a Company Request (A) stating that the Company is obligated to make a Payment Adjustment as contemplated in this Section, (B) setting forth a revised maturity and Installment Payment Percentage schedule applicable to the Bonds as to which a Payment Adjustment is to be made, (C) attaching a copy of the revised principal schedule or schedules for the corresponding Pledged Lessor Bonds, and (D) attaching calculations showing that (x) the average life of the Bonds will not be reduced or increased except as permitted by this subsection (b), (y) the aggregate principal amount of the Pledged Lessor Bonds identified on Schedule 1 hereto equals the aggregate principal amount of the Bonds and (z) the principal amortization schedules of such Pledged Lessor Bonds are such as to provide funds sufficient to repay in full, as and when due, the principal of the Bonds as and when scheduled to become due, whether upon payment of applicable Installment Payment Amounts on Installment Payment Dates or at Stated Maturity. The Trustee may conclusively rely on such Company Request and shall have no duty with respect to the calculations referred to in the foregoing clause (D), other than to make them available for inspection by any Holder of Bonds at the Corporate Trust Office upon reasonable notice and during business hours. The Trustee shall, at the expense of ELIXXX, send to each Holder of Bonds in respect of which a Xxyment Payment Adjustment has been made at least 30 days before the first payment date to be affected thereby, by first class mail, a copy of a schedule of principal amounts of Bonds to be repaid after giving effect to such Payment Adjustment.

Certain Adjustments to Installment Payments and Stated Maturity. (i) The principal amount of Bonds of either series to be paid in installments on Installment Payment Dates and at Stated Maturity, and the Stated Maturity, shall Maturity for such series may be adjusted (a "Payment Adjustment") and at Stated Maturity at the direction of the Company, so as such adjustment to correlatebe correlative, as to amounts and dates, to any adjustment to the principal amortization and maturity schedule of the Pledged Lessor Bonds of the corresponding series issued under any Lease Indenture pursuant to Section 2.17 6.03 of Supplemental Indenture No. 2 to such Lease Indenture; provided, however, that (A) no Payment Adjustment shall be made by the Company which will increase or decrease the average life of the Bonds of any series (calculated in accordance with generally accepted financial practice practice) from the date of initial issuance) issuance by more than 6 months or extend the final maturity of the Bonds and (B) the Company shall be obligated elect to make such adjustment upon (and only upon) the direction of the Owner Trustee in accordance with Section 2(c) of the Participation Agreement. If the Company shall elect to make the foregoing adjustment, the Company shall deliver to the Trustee and ELI LP&L at least 40 30 days prior to the first payment date propxxxd proposed to be affected by such adjustment, a Company Request (A) stating that the Company is obligated has elected to make a Payment Adjustment as contemplated in this Section, (B) setting forth a revised maturity and Installment Payment Percentage schedule Schedule applicable to the Bonds of each series as to which a Payment Adjustment is to be made, (C) attaching a copy of the revised principal schedule or schedules for the corresponding Pledged Lessor BondsBonds of the corresponding series, and (D) attaching calculations showing that (x) the average life of the Bonds of the affected series will not be reduced or increased except as permitted by this subsection (b), (y) the aggregate principal amount of the Pledged Lessor Bonds identified on Schedule 1 hereto equals the aggregate principal amount of the Bonds and (z) the principal amortization schedules of such Pledged Lessor Bonds are such as to provide funds sufficient to repay in full, as and when due, the principal of the Bonds as and when scheduled to become due, whether upon payment of applicable Installment Payment Amounts on Installment Payment Dates or at Stated Maturity. The Trustee may conclusively rely on such Company Request and shall have no duty with respect to the calculations referred to in the foregoing clause (D), other than to make them available for inspection by any Holder of Bonds at the Corporate Trust Office upon reasonable notice and during business hours. The Trustee shall, at the expense of ELILP&L, send to each Holder of Bonds of the series in respect of which a Xxyment Payment Adjustment has been made at least 30 20 days before the first payment date to be affected thereby, by first class mail, a copy of a schedule of principal amounts of Bonds to be repaid after giving effect to such Payment Adjustment.