Common use of CONCERNING EVENTS OF DEFAULT Clause in Contracts

CONCERNING EVENTS OF DEFAULT. SECTION 7.1 So long as any Bonds of the Twenty-First Series shall remain outstanding, the following shall constitute events of default within the meaning of Section 9.02 of the Original Indenture (in addition to the events of default set forth in Section 9.02 of the Original Indenture): (a) If the Company shall default in the payment of any portion of the principal of any Bond of the Twenty-First Series, as and when the same shall have become due, whether at the stated maturity thereof or upon proceedings for redemption (pursuant to the provisions of any sinking, replacement, purchase or other analogous fund established in the Original Indenture or pursuant to any optional or other redemption) or otherwise; provided, however, that in the event the Company and the Trustee shall have taken all action required to be taken so that each such payment of principal by means of wire transfer could reasonably be expected to be effective on the due date thereof, but nevertheless, any such transfer shall not have been credited to the account of a registered owner of Bonds of the Twenty-First Series to whom such payment is required to be made effective as of the due date, the Company shall not be deemed to have defaulted upon the obligation to make such payment until the expiration of five days following said due date; (b) if the Company shall default in the payment of any installment of interest due on any Bond of the Twenty-First Series and such default shall continue for a period of 10 days; or (c) if the Company shall default in the performance of or compliance with any other covenant, condition or term contained in the Indenture, including this Twenty-Third Supplement, and such default shall continue for 30 days after the Company shall have knowledge thereof. SECTION 7.2 So long as any Bonds of the Twenty-First Series shall remain outstanding, the Company covenants that if at any time or times or from time to time an event of default referred to in Section 6.1 of this Twenty-Third Supplement shall occur, the Company will, on demand of the Trustee, forthwith pay to the Trustee, for the benefit of all holders of Bonds then outstanding under the Indenture, a sum equal to the total amount then due for principal and interest on all Bonds then outstanding under the Indenture, with interest thereon (to the extent that payment of such interest is enforceable under applicable law) in accordance with the terms of the respective Bonds. Should said sum not be so paid to the Trustee, it shall be entitled, at any time or times and from time to time, in its own name and as Trustee of an express trust and without the possession or production of any Bonds of any Series or coupons, to recover judgment for the same against the Company or any other obligor upon such Bonds.

CONCERNING EVENTS OF DEFAULT. SECTION 7.1 So long as any Bonds of the Twenty-First Second Series shall remain outstanding, the following shall constitute events of default within the meaning of Section 9.02 of the Original Indenture (in addition to the events of default set forth in Section 9.02 of the Original Indenture): (a) If the Company shall default in the payment of any portion of the principal of any Bond of the Twenty-First Second Series, as and when the same shall have become due, whether at the stated maturity thereof or upon proceedings for redemption (pursuant to the provisions of any sinking, replacement, purchase or other analogous fund established in the Original Indenture or pursuant to any optional or other redemption) or otherwise; provided, however, that in the event the Company and the Trustee shall have taken all action required to be taken so that each such payment of principal by means of wire transfer could reasonably be expected to be effective on the due date thereof, but nevertheless, any such transfer shall not have been credited to the account of a registered owner of Bonds of the Twenty-First Second Series to whom such payment is required to be made effective as of the due date, the Company shall not be deemed to have defaulted upon the obligation to make such payment until the expiration of five days following said due date; (b) if the Company shall default in the payment of any installment of interest due on any Bond of the Twenty-First Second Series and such default shall continue for a period of 10 days; or (c) if the Company shall default in the performance of or compliance with any other covenant, condition or term contained in the Indenture, including this Twenty-Third Fourth Supplement, and such default shall continue for 30 days after the Company shall have knowledge thereof. SECTION 7.2 So long as any Bonds of the Twenty-First Second Series shall remain outstanding, the Company covenants that if at any time or times or from time to time an event of default referred to in Section 6.1 7.1 of this Twenty-Third Fourth Supplement shall occur, the Company will, on demand of the Trustee, forthwith pay to the Trustee, for the benefit of all holders of Bonds then outstanding under the Indenture, a sum equal to the total amount then due for principal and interest on all Bonds then outstanding under the Indenture, with interest thereon (to the extent that payment of such interest is enforceable under applicable law) in accordance with the terms of the respective Bonds. Should said sum not be so paid to the Trustee, it shall be entitled, at any time or times and from time to time, in its own name and as Trustee of an express trust and without the possession or production of any Bonds of any Series or coupons, to recover judgment for the same against the Company or any other obligor upon such Bonds.

CONCERNING EVENTS OF DEFAULT. SECTION Section 7.1 So long as any Bonds of the Twenty-First Third Series shall remain outstanding, the following shall constitute events of default within the meaning of Section 9.02 of the Original Indenture (in addition to the events of default set forth in Section 9.02 of the Original Indenture): (a) If the Company shall default in the payment of any portion of the principal of any Bond of the Twenty-First Third Series, as and when the same shall have become due, whether at the stated maturity thereof or upon proceedings for redemption (pursuant to the provisions of any sinking, replacement, purchase or other analogous fund established in the Original Indenture or pursuant to any optional or other redemption) or otherwise; provided, however, that in the event the Company and the Trustee shall have taken all action required to be taken so that each such payment of principal by means of wire transfer could reasonably be expected to be effective on the due date thereof, but nevertheless, any such transfer shall not have been credited to the account of a registered owner of Bonds of the Twenty-First Third Series to whom such payment is required to be made effective as of the due date, the Company shall not be deemed to have defaulted upon the obligation to make such payment until the expiration of five days following said due date; (b) if the Company shall default in the payment of any installment of interest due on any Bond of the Twenty-First Third Series and such default shall continue for a period of 10 days; or (c) if the Company shall default in the performance of or compliance with any other covenant, condition or term contained in the Indenture, including this Twenty-Third Fifth Supplement, and such default shall continue for 30 days after the Company shall have knowledge thereof. SECTION Section 7.2 So long as any Bonds of the Twenty-First Third Series shall remain outstanding, the Company covenants that if at any time or times or from time to time an event of default referred to in Section 6.1 7.1 of this Twenty-Third Fifth Supplement shall occur, the Company will, on demand of the Trustee, forthwith pay to the Trustee, for the benefit of all holders of Bonds then outstanding under the Indenture, a sum equal to the total amount then due for principal and interest on all Bonds then outstanding under the Indenture, with interest thereon (to the extent that payment of such interest is enforceable under applicable law) in accordance with the terms of the respective Bonds. Should said sum not be so paid to the Trustee, it shall be entitled, at any time or times and from time to time, in its own name and as Trustee of an express trust and without the possession or production of any Bonds of any Series or coupons, to recover judgment for the same against the Company or any other obligor upon such Bonds.

CONCERNING EVENTS OF DEFAULT. SECTION 7.1 So long as any Bonds of the Twenty-First Twentieth Series shall remain outstanding, the following shall constitute events of default within the meaning of Section 9.02 of the Original Indenture (in addition to the events of default set forth in Section 9.02 of the Original Indenture):); (a) If the Company shall default in the payment of any portion of the principal of any Bond of the Twenty-First Twentieth Series, as and when the same shall have become due, whether at the stated maturity thereof or upon proceedings for redemption (pursuant to the provisions of any sinking, replacement, purchase or other analogous fund established in the Original Indenture or pursuant to any optional or other redemption) or otherwise; provided, however, that in the event the Company and the Trustee shall have taken all action required to be taken so that each such payment of principal by means of wire transfer could reasonably be expected to be effective on the due date thereof, but nevertheless, any such transfer shall not have been credited to the account of a registered owner of Bonds of the Twenty-First Twentieth Series to whom such payment is required to be made effective as of the due date, the Company shall not be deemed to have defaulted upon the obligation to make such payment until the expiration of five days following said due date; (b) if the Company shall default in the payment of any installment of interest due on any Bond of the Twenty-First Twentieth Series and such default shall continue for a period of 10 days; or (c) if the Company shall default in the performance of or compliance with any other covenant, condition or term contained in the Indenture, including this the Twenty-Third Second Supplement, and such default shall continue for 30 days after the Company shall have knowledge thereof. SECTION 7.2 So long as any Bonds of the Twenty-First Twentieth Series shall remain outstanding, the Company covenants that if at any time or times or from time to time an event of default referred to in Section 6.1 of this Twenty-Third Supplement shall occur, the Company will, on demand of the Trustee, forthwith pay to the Trustee, for the benefit of all holders of Bonds then outstanding under the Indenture, a sum equal to the total amount then due for principal and interest on all Bonds then outstanding under the Indenture, with interest thereon (to the extent that payment of such interest is enforceable under applicable law) in accordance with the terms of the respective Bonds. Should said sum not be so paid to the Trustee, it shall be entitled, at any time or times and from time to time, in its own name and as Trustee of an express trust and without the possession or production of any Bonds of any Series or coupons, to recover judgment for the same against the Company or any other obligor upon such Bonds.6.1

CONCERNING EVENTS OF DEFAULT. SECTION 7.1 7.1. So long as any Bonds of the Twenty-First Nineteenth Series shall remain outstanding, the following shall constitute events of default within the meaning of Section 9.02 of the Original Indenture (in addition to the events of default set forth in Section 9.02 of the Original Indenture): (a) If the Company shall default in the payment of any portion of the principal of any Bond of the Twenty-First Nineteenth Series, as and when the same shall have become made due, whether at the stated maturity thereof or upon proceedings for redemption (pursuant to the provisions of any sinking, replacement, purchase or other analogous fund established in the Original Indenture or in the Twenty-First Supplement or pursuant to any optional or other redemption) or otherwise; provided, however, that in the event the Company and the Trustee shall have taken all action required to be taken so that each such payment of principal by means of wire transfer could reasonably be expected to be effective on the due date thereof, but nevertheless, any such transfer shall not have been credited to the account of a registered owner of Bonds of the Twenty-First Nineteenth Series to whom such payment is required to be made effective as of the due date, the Company shall not be deemed to have defaulted upon the obligation to make such payment until the expiration of five days following said due date; (b) if the Company shall default in the payment of any installment of interest due on any Bond of the Twenty-First Nineteenth Series and such default shall continue for a period of 10 days; or (c) if the Company shall default in the performance of or compliance with any other covenant, condition or term contained in the Indenture, including this the Twenty-Third First Supplement, and such default shall continue for 30 days after the Company shall have knowledge thereof. SECTION 7.2 7.2. So long as any Bonds of the Twenty-First Nineteenth Series shall remain outstanding, the Company covenants that if at any time or times or from time to time an event of default referred to in Section 6.1 7.1 of this the Twenty-Third First Supplement shall occur, the Company will, on demand of the Trustee, forthwith pay to the Trustee, for the benefit of all holders of Bonds then outstanding under the Indenture, a sum equal to the total amount then due for principal and interest on all Bonds then outstanding under the Indenture, with interest thereon (to the extent that payment of such interest is enforceable under applicable law) in accordance with the terms of the respective Bonds. Should said sum not be so paid to the Trustee, it shall be entitled, at any time or times and from time to time, in its own name and as Trustee of an express trust and without the possession or production of any Bonds of any Series or coupons, to recover judgment for the same against the Company or any other obligor upon such Bonds.