Common use of Company Election to End Subordination Clause in Contracts

Company Election to End Subordination. The Company may elect, at any time effective on or after the Stock Purchase Date, including in connection with a Remarketing, that its obligations under the Series A Debentures shall be senior obligations instead of subordinated obligations, in which case the provisions this Article VII and, if the Company so elects, Section 4.01 of the Base Indenture, shall thereafter no longer apply to the Series A Debentures. The Company shall give the Trustee notice of any such election not later than the effective time, and shall promptly issue a press release through Bloomberg Business News or other reasonable means of distribution.

Company Election to End Subordination. The Company may elect, at any time effective on or after the Stock Purchase Date, including in connection with a Remarketing, that its obligations under the Series A B Debentures shall be senior obligations instead of subordinated obligations, in which case the provisions this Article VII and, if the Company so elects, Section 4.01 of the Base Indenture, shall thereafter no longer apply to the Series A B Debentures. The Company shall give the Trustee notice of any such election not later than the effective time, and shall promptly issue a press release through Bloomberg Business News or other reasonable means of distribution.

Company Election to End Subordination. The Company may elect, at any time effective on or after the Stock Purchase Date, including in connection with a Remarketing, that its obligations under the Series A Debentures shall be senior obligations instead of subordinated obligations, in which case the provisions this of Article VII XVIII of the Indenture and, if the Company so elects, Section 4.01 313 of the Base Indenture, shall thereafter no longer apply to the Series A Debentures. The Company shall give the Trustee notice of any such election not later than the effective time, and shall promptly issue a press release through Bloomberg Business News or other reasonable means of distribution.