Common use of Deferral Dates Clause in Contracts

Deferral Dates. (a) On each Deferral Date, interest payable on the Trust Notes — Series 2016-A on such Deferral Date to a particular Holder of Trust Notes — Series 2016-A shall be applied on behalf of holders of Trust Notes — Series 2016-A to acquire a new series of TCPL Deferral Preferred Shares, at a stated issue price of $1,000 per share, in accordance with the assignment and set-off procedures set forth in Section 3.7 hereof. A new series of TCPL Deferral Preferred Shares shall be issued by TCPL in respect of each Deferral Date. The number of applicable TCPL Deferral Preferred Shares (including fractional shares, if applicable) subscribed for by a Holder of Trust Notes — Series 2016-A shall equal (i) the amount of the interest payment on the Trust Notes — Series 2016-A that has not been paid in cash to such Holder on the Deferral Date, divided by (ii) the stated issue price of the applicable series of TCPL Deferral Preferred Shares. (b) Whether or not a Deferral Event has occurred in respect of a particular Interest Payment Date shall be determined by TCPL in accordance with Section 3.7 prior to the commencement of the Interest Period ending on the day immediately preceding such Interest Payment Date. There shall be no limit on the number of times that Deferral Events may occur.

Deferral Dates. (a) On each Deferral Date, interest payable on the Trust Notes — Series 20162015-A on such Deferral Date to a particular Holder of Trust Notes — Series 20162015-A shall be applied on behalf of holders of Trust Notes — Series 20162015-A to acquire a new series of TCPL Deferral Preferred Shares, at a stated issue price of $1,000 per share, in accordance with the assignment and set-off procedures set forth in Section 3.7 hereof. A new series of TCPL Deferral Preferred Shares shall be issued by TCPL in respect of each Deferral Date. The number of applicable TCPL Deferral Preferred Shares (including fractional shares, if applicable) subscribed for by a Holder of Trust Notes — Series 20162015-A shall equal (i) the amount of the interest payment on the Trust Notes — Series 20162015-A that has not been paid in cash to such Holder on the Deferral Date, divided by (ii) the stated issue price of the applicable series of TCPL Deferral Preferred Shares. (b) Whether or not a Deferral Event has occurred in respect of a particular Interest Payment Date shall be determined by TCPL in accordance with Section 3.7 prior to the commencement of the Interest Period ending on the day immediately preceding such Interest Payment Date. There shall be no limit on the number of times that Deferral Events may occur.

Deferral Dates. (a) On each Deferral Date, interest payable on the Trust Notes — Series 20162019-A on such Deferral Date to a particular Holder of Trust Notes — Series 20162019-A shall be applied on behalf of holders of Trust Notes — Series 20162019-A to acquire a new series of TCPL Deferral Preferred Shares, at a stated issue price of $1,000 per share, in accordance with the assignment and set-off procedures set forth in Section 3.7 hereof. A new series of TCPL Deferral Preferred Shares shall be issued by TCPL in respect of each Deferral Date. The number of applicable TCPL Deferral Preferred Shares (including fractional shares, if applicable) subscribed for by a Holder of Trust Notes — Series 20162019-A shall equal (i) the amount of the interest payment on the Trust Notes — Series 20162019-A that has not been paid in cash to such Holder on the Deferral Date, divided by (ii) the stated issue price of the applicable series of TCPL Deferral Preferred Shares. (b) Whether or not a Deferral Event has occurred in respect of a particular Interest Payment Date shall be determined by TCPL in accordance with Section 3.7 prior to the commencement of the Interest Period ending on the day immediately preceding such Interest Payment Date. There shall be no limit on the number of times that Deferral Events may occur.

Deferral Dates. (a) On each Deferral Date, interest payable on the Trust Notes — Series 20162017-A on such Deferral Date to a particular Holder of Trust Notes — Series 20162017-A shall be applied on behalf of holders of Trust Notes — Series 20162017-A to acquire a new series of TCPL Deferral Preferred Shares, at a stated issue price of $1,000 per share, in accordance with the assignment and set-off procedures set forth in Section 3.7 hereof. A new series of TCPL Deferral Preferred Shares shall be issued by TCPL in respect of each Deferral Date. The number of applicable TCPL Deferral Preferred Shares (including fractional shares, if applicable) subscribed for by a Holder of Trust Notes — Series 20162017-A shall equal (i) the amount of the interest payment on the Trust Notes — Series 20162017-A that has not been paid in cash to such Holder on the Deferral Date, divided by (ii) the stated issue price of the applicable series of TCPL Deferral Preferred Shares. (b) Whether or not a Deferral Event has occurred in respect of a particular Interest Payment Date shall be determined by TCPL in accordance with Section 3.7 prior to the commencement of the Interest Period ending on the day immediately preceding such Interest Payment Date. There shall be no limit on the number of times that Deferral Events may occur.

Deferral Dates. (a) On each Deferral Date, interest payable on the Trust Notes — – Series 20162022-A on such Deferral Date to a particular Holder of Trust Notes — – Series 20162022-A shall be applied on behalf of holders Holders of Trust Notes — – Series 20162022-A to acquire a new series of TCPL Deferral Preferred Shares, at a stated issue price of $1,000 per share, in accordance with the assignment and set-off procedures set forth in Section 3.7 hereof. A new series of TCPL Deferral Preferred Shares shall be issued by TCPL in respect of each Deferral Date. The number of applicable TCPL Deferral Preferred Shares (including fractional shares, if applicable) subscribed for by a Holder of Trust Notes — – Series 20162022-A shall equal (i) the amount of the interest payment on the Trust Notes — – Series 20162022-A that has not been paid in cash to such Holder on the Deferral Date, divided by (ii) the stated issue price of the applicable series of TCPL Deferral Preferred Shares. (b) Whether or not a Deferral Event has occurred in respect of a particular Interest Payment Date shall be determined by TCPL in accordance with Section 3.7 prior to the commencement of the Interest Period ending on the day immediately preceding such Interest Payment Date. There shall be no limit on the number of times that Deferral Events may occur.