Common use of Closed Periods Clause in Contracts

Closed Periods. No PD Debt Instrument Holder may require the transfer of a Registered PD Debt Instrument to be registered or a Bearer PD Debt Instrument to be exchanged for a Registered PD Debt Instrument: (a) during the period of 15 days ending on the due date for any payment of principal or redemption amount on that PD Debt Instrument; (b) during the period of 15 days before any drawing of PD Debt Instruments for redemption under Condition 6.2; or (c) after any such PD Debt Instrument has been drawn for redemption in whole or in part.

Closed Periods. No PD Debt Instrument Holder may require the transfer of a Registered PD Debt Instrument to be registered or a Bearer PD Debt Instrument to be exchanged for a Registered PD Debt Instrument: (a) : during the period of 15 days ending on the due date for any payment of principal or redemption amount on that PD Debt Instrument; (b) ; during the period of 15 days before any drawing of PD Debt Instruments for redemption under Condition 6.2; or (c) or after any such PD Debt Instrument has been drawn for redemption in whole or in part.