Common use of Debt Securities Payable on Repayment Date Clause in Contracts

Debt Securities Payable on Repayment Date. Notice of the exercise of the option of repayment having been given as provided above, the Debt Securities to be repaid will, on the Repayment Date, become due and payable at the Repayment Price therein specified, together with accrued and unpaid interest, if any, thereon and from and after such date (unless the Company will default in the payment of the Repayment Price and accrued interest, if any) such Debt Securities will cease to bear interest. Upon surrender of any such Debt Security for repayment in accordance with said notice, such Debt Security will be paid by the Company at the Repayment Price, together with any accrued and unpaid interest, if any, thereon to but excluding the Repayment Date; provided, however, that installments of interest on Debt Securities whose Stated Maturity is on or prior to the Repayment Date will be payable to the Holders of such Debt Securities registered as such at the close of business on the Regular Record Dates therefor according to their terms and the provisions of Section 2.10. If any Debt Security called for repayment will not be so paid upon surrender thereof for repayment, the principal, until paid, will bear interest from the Repayment Date at the rate prescribed therefor in the Debt Security or, if no rate is prescribed therefor in the Debt Security, at the rate of interest, if any, borne by such Debt Security.