Common use of Company's Option to Effect Clause in Contracts

Company's Option to Effect. Defeasance or Covenant Defeasance. --------------------------------- Unless, pursuant to Section 301, provision is made that either or both of (a) defeasance of the Securities of a series under Section 1502 or (b) covenant defeasance of the Securities of a series under Section 1503 shall not apply to the Securities of a series, then the provisions of such Section or Sections, as the case may be, together with the other provisions of this Article Fifteen, with such modifications thereto as may be specified pursuant to Section 301 with respect to any Securities, shall be applicable to the Securities of such series, and the Company may at its option by Board Resolution, at any time, with respect to the Securities of such series, elect to have either Section 1502 (if applicable) or Section 1503 (if applicable) applied to the Outstanding Securities of such series upon compliance with the conditions set forth below in this Article Fifteen.

Company's Option to Effect. Defeasance or Covenant Defeasance. --------------------------------- ---------------------------------- Unless, pursuant to Section 301, provision is made that either or both of (a) defeasance of the Securities of a series under Section 1502 or (b) covenant defeasance of the Securities of a series under Section 1503 shall not apply to the Securities of a series, then the provisions of such Section or Sections, as the case may be, together with the other provisions of this Article Fifteen, with such modifications thereto as may be specified pursuant to Section 301 with respect to any Securities, shall be applicable to the Securities of such series, and the Company may at its option by Board Resolution, at any time, with respect to the Securities of such series, elect to have either Section 1502 (if applicable) or Section 1503 (if applicable) applied to the Outstanding Securities of such series upon compliance with the conditions set forth below in this Article Fifteen.

Company's Option to Effect. Defeasance or Covenant Defeasance. --------------------------------- Unless, Unless pursuant to Section 301, 301 provision is made that for the inapplicability of either or both of (a) defeasance of the Securities of a series under Section 1502 1302 or (b) covenant defeasance of the Securities of a series under Section 1503 shall not apply to the Securities of a series1303, then the provisions of such Section or Sections, as the case may be, together with the other provisions of this Article Fifteen, with such modifications thereto as may be specified pursuant to Section 301 with respect to any SecuritiesArticle, shall be applicable to the Securities of such series, and the Company may at its option by Board Resolution, at any time, with respect to the Securities of such series, elect to have either Section 1502 1302 (if applicableunless inapplicable) or Section 1503 1303 (if applicableunless inapplicable) be applied to the Outstanding Securities of such series upon compliance with the applicable conditions set forth below in this Article FifteenArticle.

Company's Option to Effect. Defeasance or Covenant Defeasance. --------------------------------- Unless, If pursuant to Section 301, 301 provision is made that for either or both of (ai) defeasance of the Securities of a series under Section 1502 1302 or (bii) covenant defeasance of the Securities of a series under Section 1503 shall not apply to the Securities of a series1303, then the provisions of such Section or Sections, as the case may be, together with the other provisions of this Article Fifteen, with such modifications thereto as may be specified pursuant to Section 301 with respect to any SecuritiesThirteen, shall be applicable to the Securities of such series, and the Company may at its option by Board Resolution, at any time, with respect to the Securities of such series, elect to have either Section 1502 1302 (if applicable) or Section 1503 1303 (if applicable) be applied to the Outstanding Securities of such series upon compliance with the conditions set forth below in this Article FifteenThirteen.