Common use of Distribution of Proceeds Clause in Contracts

Distribution of Proceeds. Payments to Holders pursuant to Section 9.10(e) will be made as follows: (a) at least 15 days' notice of every such payment will be given to the Holders in the manner provided in Section 11.3 specifying the time when and the place or places where the Notes are to be presented and the amount of the payment and the application thereof as between principal and interest; (b) payment of any Note will be made upon presentation thereof at any one of the places specified in such notice and any such Note thereby paid in full will be surrendered, otherwise a memorandum of such payment will be endorsed thereon; but the Security Agent may in its discretion dispense with presentation and surrender or endorsement in any special case upon such indemnity being given as it deems sufficient; (c) from and after the date of payment specified in the notice, interest will accrue only on the amount owing on each Note after giving credit for the amount of the payment specified in such notice unless the Note with respect to which such amount is owing is duly presented on or after the date so specified any payment of such amount is not made; and (d) the Security Agent will not be bound to apply or make any partial or interim payment of any monies coming into its hands if the amount so received by it, after reserving an amount as the Security Agent may think necessary to provide for the payment mentioned in section 9.10(a) through 9.10(d) is insufficient to make a distribution of at least 3% of the aggregate principal amount of the outstanding Notes, but it may retain the money so received by it and invest or deposit such monies until their money or the investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control is sufficient to make a distribution of at least that amount or until it otherwise considers it advisable to apply the monies. The foregoing will, however, not apply to a final payment in distribution hereunder.

Distribution of Proceeds. Payments to Holders Noteholders pursuant to Section 9.10(e9.7(b) will shall be made as follows: (a) at least 15 days' ’ notice of every such payment will shall be given to the Holders in the manner provided specified in Section 11.3 12.2, specifying the time when and the place or places where at which the applicable Subordinate Secured Notes are to be presented and the amount of the payment and the application thereof as between principal and interest; (b) payment in respect of any Subordinate Secured Note will shall be made upon presentation thereof at any one of the places specified in such notice and any such Subordinate Secured Note thereby paid in full will shall be surrendered, otherwise a memorandum of such payment will be endorsed thereon; but the Security Agent Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon such indemnity being given as it deems the Trustee shall consider sufficient; (c) from and after the date of payment specified in the such notice, interest will shall accrue only on the amount owing on each Subordinate Secured Note after giving credit for the amount of the payment specified in such notice unless the Subordinate Secured Note with in respect to of which such amount is owing is duly presented on or after the date so specified any and payment of such amount is not made; and (d) the Security Agent will Trustee shall not be bound required to apply or make any partial or interim payment of any monies coming into its hands if to Noteholders unless the amount so received by itavailable to it for such purpose, after reserving an therefrom such amount as the Security Agent Trustee may think necessary to provide for the payment mentioned payments referred to in section 9.10(a) through 9.10(d) is insufficient to make a distribution of at least 3% Section 9.7(a), exceeds two per cent of the aggregate principal amount of the outstanding Notes, but it may retain the money so received by it and invest or deposit such monies until their money or the investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control is sufficient to make a distribution of at least that amount or until it otherwise considers it advisable to apply the monies. The foregoing will, however, not apply to a final payment Subordinate Secured Notes in distribution hereunderdefault then outstanding.

Distribution of Proceeds. Payments to Holders Debentureholders pursuant to clause (b) of Section 9.10(e) will 8.6 shall be made as follows: (a) at At least 15 days' notice of every such payment will shall be given to the Holders in the manner provided in Section 11.3 12.2 specifying the time when and the place or places where the Notes Debentures are to be presented and the amount of the payment and the application thereof as between principal principal, premium (if any) and interest;. (b) payment Payment of any Note will Debenture shall be made upon presentation thereof at any one of the places specified in such notice and any such Note Debenture thereby paid in full will shall be surrendered, otherwise a memorandum of such payment will shall be endorsed thereon; but the Security Agent Indenture Trustee may in its discretion dispense with presentation and surrender or for endorsement in any special case upon such indemnity being given as it deems shall deem sufficient;. (c) from From and after the date of payment specified in the notice, interest will shall accrue only on the amount owing on each Note Debenture after giving credit for the amount of the payment specified in such notice unless the Note with Debenture in respect to of which such amount is owing is be duly presented on or after the date so specified any and payment of such amount is not made; and. (d) the Security Agent will The Indenture Trustee shall not be bound to apply or make any partial or interim payment of any monies coming into its hands if the amount so received by it, after reserving an thereout such amount as the Security Agent Indenture Trustee may think necessary to provide for the payment payments mentioned in section 9.10(aclause (a) through 9.10(d) of Section 8.6, is insufficient to make a distribution of at least 32% of the aggregate principal amount of the outstanding NotesDebentures, but it may retain the money so received by it and invest or deposit such monies the same as provided in Section 13.9 until their the money or the investments representing the same, with the income derived therefrom, together with any other moneys monies for the time being under its control is shall be sufficient to make a distribution of at least that amount for the said purpose or until it otherwise considers shall consider it advisable to apply the moniessame in the manner hereinbefore set forth. The foregoing willshall, however, not apply to a final payment in distribution hereunder.

Distribution of Proceeds. Payments to the Holders pursuant to Section 9.10(e6.13(b) will shall be made as follows: (a) at least 15 days' ’ notice of every such payment will shall be given to the Holders in the manner provided in Section 11.3 10.1 specifying the time when and the place or places where the Notes are to be presented and the amount of the payment and the application thereof as between principal and interest; (b) payment of any Note will shall be made upon presentation thereof at any one of the places specified in such notice and any such Note thereby paid in full will shall be surrendered, otherwise a memorandum of such payment will shall be endorsed thereon; but the Security Agent Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon such indemnity being given as it deems shall deem sufficient; (c) from and after the date of payment specified in the notice, interest will shall accrue only on the amount owing on each Note after giving credit for the amount of the payment specified in such notice unless the Note with respect to which such amount is owing is duly presented on or after the date so specified any and payment of such amount is not made; and (d) the Security Agent will Trustee shall not be bound to apply or make any partial or interim payment of any monies coming into its hands if the amount so received by it, after reserving an thereon such amount as the Security Agent Trustee may think necessary to provide for the payment payments mentioned in section 9.10(a) through 9.10(d) Section 6.13(a), is insufficient to make a distribution of at least 3% two percent (2%) of the aggregate principal amount of the outstanding Notes, but it may retain the money so received by it and invest or deposit such monies the same as provided in Section 11.9 until their the money or the investments representing the same, with the income derived therefrom, together with any other moneys monies for the time being under its control is shall be sufficient to make a distribution of at least that amount for the said purpose or until it otherwise considers shall consider it advisable to apply the moniessame in the manner hereinbefore set forth. The foregoing willshall, however, not apply to a final payment in or distribution hereunder.

Distribution of Proceeds. Payments to Holders holders of Debentures pursuant to clause (b) of Section 9.10(e) will 7.6 shall be made as follows: (a) at least 15 days' days notice of every such payment will shall be given to the Holders in the manner provided in Section 11.3 11.2 specifying the time when and the place or places where the Notes Debentures are to be presented and the amount of the payment and the application thereof as between principal principal, interest and interestany other amounts; (b) payment of any Note will Debenture shall be made upon presentation thereof at any one of the places specified in such notice and any such Note Debenture thereby paid in full will shall be surrendered, otherwise a memorandum of such payment will shall be endorsed thereon; but the Security Agent Trustee may in its discretion dispense with presentation and surrender or for endorsement in any special case upon such indemnity being given as it deems shall deem sufficient; (c) from and after the date of payment specified in the notice, interest will shall accrue only on the amount owing on each Note Debenture after giving credit for the amount of the payment specified in such notice unless the Note with Debenture in respect to of which such amount is owing is be duly presented on or after the date so specified any and payment of such amount is be not made; and (d) the Security Agent will Trustee shall not be bound to apply or make any partial or interim payment of any monies moneys coming into its hands if the amount so received by it, after reserving an thereout such amount as the Security Agent Trustee may think necessary to provide for the payment payments mentioned in section 9.10(a) through 9.10(d) subsection 7.6(a), is insufficient to make a distribution of at least 32% of the aggregate principal amount of the outstanding NotesDebentures, but it may retain the money so received by it and invest or deposit such monies the same as provided in Section 12.9 until their the money or the investments representing the same, with the income derived therefrom, together with any other moneys for the time being - 42 - under its control is shall be sufficient to make a distribution of at least that amount for the said purpose or until it otherwise considers shall consider it advisable to apply the moniessame in the manner hereinbefore set forth. The foregoing willshall, however, not apply to a final payment in distribution hereunder.

Distribution of Proceeds. Payments to the Holders pursuant to Section 9.10(esection 6.13(b) will shall be made as follows: (a) at least 15 days' days notice of every such payment will shall be given to the Holders in the manner provided in Section 11.3 section 10.1 specifying the time when and the place or places where the Notes are to be presented and the amount of the payment and the application thereof as between principal and interest; (b) payment of any Note will shall be made upon presentation thereof at any one of the places specified in such notice and any such Note thereby paid in full will shall be surrendered, otherwise a memorandum of such payment will shall be endorsed thereon; but the Security Agent Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon such indemnity being given as it deems shall deem sufficient; (c) from and after the date of payment specified in the notice, interest will shall accrue only on the amount owing on each Note after giving credit for the amount of the payment specified in such notice unless the Note with respect to which such amount is owing is duly presented on or after the date so specified any and payment of such amount is not made; and (d) the Security Agent will Trustee shall not be bound to apply or make any partial or interim payment of any monies coming into its hands if the amount so received by it, after reserving an thereon such amount as the Security Agent Trustee may think necessary to provide for the payment payments mentioned in section 9.10(a) through 9.10(d) 6.13(a), is insufficient to make a distribution of at least 3% two percent (2%) of the aggregate principal amount of the outstanding Notes, but it may retain the money so received by it and invest or deposit such monies the same as provided in section 11.9 until their the money or the investments representing the same, with the income derived therefrom, together with any other moneys monies for the time being under its control is shall be sufficient to make a distribution of at least that amount for the said purpose or until it otherwise considers shall consider it advisable to apply the moniessame in the manner hereinbefore set forth. The foregoing willshall, however, not apply to a final payment in or distribution hereunder.

Distribution of Proceeds. Payments to Holders Debentureholders pursuant to Section 9.10(e10.15(b) will shall be made as follows: (a) at least 15 days' ’ notice of every such payment will shall be given to the Holders in the manner provided in Section 11.3 specifying the time when and the place or places where the Notes Debentures are to be presented and the amount of the payment and the application thereof as between principal Principal Sum and interestInterest; (b) payment of any Note will Debenture shall be made upon presentation thereof at any one of the places specified in such notice and any such Note Debenture thereby paid in full will shall be surrendered, otherwise a memorandum of such payment will shall be endorsed thereon; but the Security Agent Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon such indemnity being given to it as it deems shall deem sufficient; (c) from and after the date of payment specified in the notice, interest will Interest shall accrue only on the amount owing on each Note Debenture after giving credit for the amount of the payment specified in such notice unless the Note with respect to which such amount is owing is duly presented on or after the date so specified any payment of such amount is not madenotice; and (d) the Security Agent will Trustee shall not be bound to apply or make any partial or interim payment of any monies coming into its hands if the amount so received by it, after reserving an therefrom such amount as the Security Agent Trustee may think necessary to provide for the payment payments mentioned in section 9.10(a) through 9.10(d) Section 10.15(a), is insufficient to make a distribution of at least 3less than 5% of the aggregate principal amount of the outstanding NotesPrincipal Sum, but it may retain the money so received by it and invest or deposit such monies the same in accordance with Section 12.9 until their the money or the investments representing the same, with the income derived therefrom, together with any other moneys monies for the time being under its control is sufficient to make a distribution of shall be at least that amount or until it otherwise considers it advisable to apply 5% of the moniesPrincipal Sum. The foregoing will, however, shall not apply to a final payment in or distribution hereunder.

Distribution of Proceeds. Payments to Holders Debentureholders pursuant to Section 9.10(e11.7(b) will shall be made as follows: (a) at least 15 days' ’ notice of every such payment will shall be given to the Holders in the manner provided specified in Section 11.3 14.2, specifying the time when and the place or places where at which the Notes Debenture Certificates, if applicable, are to be presented and the amount of the payment and the application thereof as between principal principal, Premium, if any, and interest; (b) payment in respect of any Note will Debenture shall be made upon presentation thereof of the Debenture Certificate representing such Debenture, if applicable, at any one of the places specified in such notice and any the Debenture Certificate representing such Note Debenture thereby paid in full will shall be surrendered, otherwise a memorandum of such payment will be endorsed thereon; but the Security Agent Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon such indemnity being given as it deems the Trustee shall consider sufficient; (c) from and after the date of payment specified in the such notice, interest will shall accrue only on the amount owing on each Note Debenture after giving credit for the amount of the payment specified in such notice unless the Note with Debenture in respect to of which such amount is owing is duly presented on or after the date so specified any specified, if applicable, and payment of such amount is not made; and (d) the Security Agent will Trustee shall not be bound required to apply or make any partial or interim payment of any monies coming into its hands if to Debentureholders unless the amount so received by itavailable to it for such purpose, after reserving an therefrom such amount as the Security Agent Trustee may think necessary to provide for the payment mentioned payments referred to in section 9.10(a) through 9.10(d) is insufficient to make a distribution of at least 3% Section 11.7(a), exceeds one per cent of the aggregate outstanding principal amount of the outstanding Notes, but it may retain the money so received by it and invest or deposit such monies until their money or the investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control is sufficient to make a distribution of at least that amount or until it otherwise considers it advisable to apply the monies. The foregoing will, however, not apply to a final payment Debentures in distribution hereunderdefault then outstanding.

Distribution of Proceeds. Payments to Holders holders of Debentures pursuant to Section 9.10(eparagraph 8.6(b) will shall be made as follows: (a) at least 15 10 business days' notice of every such payment will shall be given to the Holders in the manner provided in Section 11.3 section 12.2 specifying the time when and the place or places where the Notes Debentures are to be presented and the amount of the payment and the application thereof as between principal and interest; (b) payment of any Note will Debenture shall be made upon presentation thereof at any one of the places specified in such notice and any such Note Debenture thereby paid in full will shall be surrendered, otherwise a memorandum of such payment will shall be endorsed thereon; but the Security Agent Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon such indemnity being given as it deems shall deem sufficient; (c) from and after the date of payment specified in the notice, interest will shall accrue only on the amount owing on each Note Debenture after giving credit for the amount of the payment specified in such notice unless the Note with Debenture in respect to of which such amount is owing is be duly presented on or after the date so specified any and payment of such amount is be not made; and (d) the Security Agent will Trustee shall not be bound required to apply or make any partial or interim payment of any monies coming into to Debenture holders unless the moneys in its hands if the amount so received by ithands, after reserving an therefrom such amount as the Security Agent Trustee may think necessary to provide for the payment payments mentioned in section 9.10(a) through 9.10(d) is insufficient to make a distribution of at least 3paragraph 8.6(a), exceed 2% of the aggregate principal amount of the outstanding Notes, but it may retain the money so received by it and invest or deposit such monies until their money or the investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control is sufficient to make a distribution of at least that amount or until it otherwise considers it advisable to apply the monies. The foregoing will, however, not apply to a final payment in distribution hereunderDebentures then outstanding.

Distribution of Proceeds. Payments to Holders holders of Debentures pursuant to clause (b) of Section 9.10(e) will 8.6 shall be made as follows: (a) at At least 15 days' days notice of every such payment will shall be given to the Holders in the manner provided in Section 11.3 14.2 specifying the time when and the place or places where the Notes Debentures are to be presented and the amount of the payment and the application thereof as between principal and interest;. (b) payment Payment of any Note will Debenture shall be made upon presentation thereof at any one of the places specified in such notice and any such Note Debenture thereby paid in full will shall be surrendered, otherwise a memorandum of such payment will shall be endorsed thereon; but the Security Agent Indenture Trustee may in its discretion dispense with presentation and surrender or for endorsement in any special case upon such indemnity being given as it deems sufficient;shall deem sufficient.‌ (c) from From and after the date of payment specified in the notice, interest will shall accrue only on the amount owing on each Note Debenture after giving credit for the amount of the payment specified in such notice unless the Note with Debenture in respect to of which such amount is owing is be duly presented on or after the date so specified any and payment of such amount is not made; and. (d) the Security Agent will The Indenture Trustee shall not be bound to apply or make any partial or interim payment of any monies moneys coming into its hands if the amount so received by it, after reserving an thereout such amount as the Security Agent Indenture Trustee may think necessary to provide for the payment payments mentioned in section 9.10(aclause (a) through 9.10(d) of Section 8.6, is insufficient to make a distribution of at least 32% of the aggregate principal amount of the outstanding NotesDebentures, but it may retain the money so received by it and invest or deposit such monies the same as provided in Section 15.9 until their the money or the investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control is shall be sufficient to make a distribution of at least that amount for the said purpose or until it otherwise considers shall consider it advisable to apply the moniessame in the manner hereinbefore set forth. The foregoing willshall, however, not apply to a final payment in distribution hereunder.

Distribution of Proceeds. Payments to Holders Debentureholders pursuant to clause (b) of Section 9.10(e) will 7.6 shall be made as follows: (a) at At least 15 days' ’ notice of every such payment will shall be given to the Holders in the manner provided in Section 11.3 12.2 specifying the time when and the place or places where the Notes Debentures are to be presented and the amount of the payment and the application thereof as between principal principal, premium (if any) and interest;. (b) payment Payment of any Note will Debenture shall be made upon presentation thereof at any one of the places specified in such notice and any such Note Debenture thereby paid in full will shall be surrendered, otherwise a memorandum of such payment will shall be endorsed thereon; but the Security Agent Indenture Trustee may in its discretion dispense with presentation and surrender or for endorsement in any special case upon such indemnity being given as it deems shall deem sufficient;. (c) from From and after the date of payment specified in the notice, interest will shall accrue only on the amount owing on each Note Debenture after giving credit for the amount of the payment specified in such notice unless the Note with Debenture in respect to of which such amount is owing is be duly presented on or after the date so specified any and payment of such amount is not made; and. (d) the Security Agent will The Indenture Trustee shall not be bound to apply or make any partial or interim payment of any monies moneys coming into its hands if the amount so received by it, after reserving an thereout such amount as the Security Agent Indenture Trustee may think necessary to provide for the payment payments mentioned in section 9.10(aclause (a) through 9.10(d) of Section 7.6, is insufficient to make a distribution of at least 32% of the aggregate principal amount of the outstanding NotesDebentures, but it may retain the money so received by it and invest or deposit such monies the same as provided in Section 13.9 until their the money or the investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control is shall be sufficient to make a distribution of at least that amount for the said purpose or until it otherwise considers shall consider it advisable to apply the moniessame in the manner hereinbefore set forth. The foregoing willshall, however, not apply to a final payment in distribution hereunder.

Distribution of Proceeds. Payments Payment to Holders holders of Debentures and coupons pursuant to Section 9.10(eclause (b) will of Subsection 8.9 (1) shall be made as follows: (a1) at At least 15 days' notice of every such payment will shall be given to by the Holders Trustee in the manner provided in Section 11.3 Article 14 specifying the time when and the place or places where the Notes Debentures and coupons are to be presented and the amount of the payment and the application thereof as between principal principal, premium and interest;. (b2) payment Payment of any Note will Debenture or coupon shall be made upon presentation thereof at any one of the places specified in such notice and any such Note Debenture or coupon thereby paid in full will shall be surrendered, otherwise a memorandum of such payment will shall be endorsed thereon; but the Security Agent Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon such indemnity being given as it deems shall deem sufficient;. (c3) from From and after the date of payment specified in the notice, interest will shall accrue only on the amount owing on each Note Debenture and coupon after giving credit for the amount of the payment specified in such notice unless the Note with respect to which such amount is owing is it be duly presented on or after the date so specified any and payment of such amount is not made; and. (d4) the Security Agent will The Trustee shall not be bound required to apply or make any partial or interim payment of any monies coming into to Debentureholders unless the moneys in its hands if the amount so received by ithands, after reserving an therefrom such amount as the Security Agent Trustee may think necessary to provide for the payment payments mentioned in section 9.10(aclause (a) through 9.10(d) is insufficient to make a distribution of at least 3Subsection 8.9(1), exceed 2% of the aggregate principal amount of the outstanding NotesDebentures, but it may retain the money so received by it and invest or deposit deal with the same as provided in Section 13.5 until such monies until their money or the investments representing the sameamount, with the income derived therefromthereon, together with any other moneys money received by it hereunder applicable for distribution to the time being under its control is sufficient to make a distribution holders of the Debentures shall equal at least that 2% of the said aggregate principal amount or until it the Trustee shall otherwise considers consider it advisable to apply the monies. The foregoing will, however, not apply to a final same in payment in distribution hereunder.

Distribution of Proceeds. Payments to Holders holders of Debentures pursuant to Section 9.10(eclause 8.7(b) will shall be made as follows: (a) at least 15 days' notice of every such payment will shall be given to the Holders in the manner provided in Section 11.3 Article Fourteen specifying the time when and the place or places where the Notes Debentures are to be presented and the amount of the payment and the application thereof as between principal and interest; (b) payment of any Note will Debenture shall be made upon presentation presentment thereof at any one of the places specified in such notice and any such Note Debenture thereby paid in full will shall be surrendered, otherwise a memorandum of such payment will shall be endorsed thereon; but the Security Agent Trustee may in its discretion dispense with presentation presentment and surrender or endorsement in any special case upon such indemnity being given as it deems shall deem sufficient; (c) from and after the date of payment specified in the notice, interest will shall accrue only on the amount owing on each Note Debenture after giving credit for the amount of the payment specified in such notice unless the Note with respect to which such amount is owing is Debenture be duly presented on or after the date so specified any and payment of such amount is be not made; and; (d) the Security Agent will Trustee shall not be bound required to apply or make any partial or interim payment of any monies coming into to Debentureholders unless the moneys in its hands if the amount so received by ithands, after reserving an therefrom such amount as the Security Agent Trustee may think necessary to provide for the payment payments mentioned in section 9.10(a) through 9.10(d) is insufficient to make a distribution of at least 3clause 8.7(a), exceed 5% of the aggregate principal amount of the outstanding Notes, but it may retain the money so received by it and invest or deposit such monies until their money or the investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control is sufficient to make a distribution of at least that amount or until it otherwise considers it advisable to apply the monies. The foregoing will, however, not apply to a final payment in distribution hereunderDebentures.

Distribution of Proceeds. Payments to Holders holders of Notes pursuant to Section 9.10(e9.10(a)(ii) will shall be made as follows: (a) at least 15 days' days notice of every such payment will shall be given to the Holders in the applicable manner provided in Section 11.3 16.2 specifying the time when and the place or places where the Notes are to be presented and the amount of the payment and the application thereof as between principal and interest; (b) payment of any Note will shall be made upon presentation thereof at any one of the places specified in such notice and any such Note thereby paid in full will shall be surrendered, otherwise a memorandum of such payment will shall be endorsed thereon; but the Security Agent Trustee may in its discretion dispense with presentation and surrender or for endorsement in any special case upon such indemnity being given as it deems shall deem sufficient; (c) from and after the date of payment specified in the notice, interest will shall accrue only on the amount owing on each Note after giving credit for the amount of the payment specified in such notice unless the Note with in respect to of which such amount is owing is be duly presented on or after the date so specified any and payment of such amount is not be made; and (d) the Security Agent will Trustee shall not be bound to apply or make any partial or interim payment of any monies moneys coming into its hands if the amount so received by it, after reserving an thereout such amount as the Security Agent Trustee may think necessary to provide for the payment payments mentioned in section 9.10(a) through 9.10(d) Section 9.10(a)(i), is insufficient to make a distribution of at least 32% of the aggregate principal amount of the outstanding Notes, but it may retain the money so received by it and invest or deposit such monies the same as it deems fit until their the money or the investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control is shall be sufficient to make a distribution of at least that amount for the said purpose or until it otherwise considers shall consider it advisable to apply the moniessame in the manner hereinbefore set forth. The foregoing willshall, however, not apply to a final payment in distribution hereunder.

Distribution of Proceeds. Payments to Holders holders of Exchangeable Securities pursuant to Section 9.10(eSubsection 10.6(b) will shall be made as follows: (a) at least 15 days' notice of every such payment will shall be given to the Holders in the manner provided in Section 11.3 16.1 specifying the time when and the place or places where the Notes Exchangeable Securities are to be presented, in the event that a Non-Book Entry Certification Event has occurred (to the extent not theretofore presented in accordance with the provisions of this Trust Indenture), and the amount of the payment and the application thereof as between principal and interest; (b) subject to Section 3.12, payment of any Note will Exchangeable Security shall be made upon presentation thereof at any one of the places specified for such payment in such the notice referred to in Subsection 10.7(a) and any such Note Exchangeable Security thereby paid in full will shall be surrendered, in the event that a Non-Book Entry Certification Event has occurred, otherwise a memorandum of such payment will shall be endorsed thereonon the face thereof; but the Security Agent Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon such indemnity being given as it deems shall deem sufficient; (c) from and after the date of payment specified in the noticenotice referred to in Subsection 10.7(a), interest will shall accrue only on the amount owing on each Note Exchangeable Security after giving credit for the amount of the payment specified in such notice unless such Exchangeable Security be duly presented, in the Note with respect to which such amount is owing is duly presented event that a Non-Book Entry Certification Event has occurred, on or after the date so specified any and payment of such amount is be not made; and (d) the Security Agent will Trustee shall not be bound required to apply or make any partial or interim payment of any monies coming into to Holders unless the moneys in its hands if the amount so received by ithands, after reserving an therefrom such amount as the Security Agent Trustee may think necessary to provide for the payment payments mentioned in section 9.10(a) through 9.10(d) is insufficient to make a distribution of at least 3Subsection 10.6(a), exceed 5% of the aggregate principal amount of the Exchangeable Securities outstanding Notes, but it may retain the money so received by it and invest or deposit such monies moneys and deal with the same as provided in Section 15.4 until their money the moneys or the investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control is control, shall be sufficient to make a distribution of at least that amount for the said purpose or until it otherwise considers shall consider it advisable to apply the monies. The foregoing will, however, not apply to a final payment same in distribution hereunderthe manner hereinbefore set forth.

Distribution of Proceeds. Payments to Holders Debentureholders pursuant to Section 9.10(e9.15(b) will shall be made as follows: (a) at least 15 days' ’ notice of every such payment will shall be given to the Holders in the manner provided in Section 11.3 specifying the time when and the place or places where the Notes Debentures are to be presented and the amount of the payment and the application thereof as between principal Principal Sum and interestInterest; (b) payment of any Note will Debenture shall be made upon presentation thereof at any one of the places specified in such notice and any such Note Debenture thereby paid in full will shall be surrendered, otherwise a memorandum of such payment will shall be endorsed thereon; but the Security Agent Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon such indemnity being given to it as it deems shall deem sufficient; (c) from and after the date of payment specified in the notice, interest will Interest shall accrue only on the amount owing on each Note Debenture after giving credit for the amount of the payment specified in such notice unless the Note with respect to which such amount is owing is duly presented on or after the date so specified any payment of such amount is not madenotice; and (d) the Security Agent will Trustee shall not be bound to apply or make any partial or interim payment of any monies coming into its hands if the amount so received by it, after reserving an therefrom such amount as the Security Agent Trustee may think necessary to provide for the payment payments mentioned in section 9.10(a) through 9.10(d) Section 9.15(a), is insufficient to make a distribution of at least 3less than 5% of the aggregate principal amount of the outstanding NotesPrincipal Sum, but it may retain the money so received by it and invest or deposit such monies the same in accordance with Section 11.9 until their the money or the investments representing the same, with the income derived therefrom, together with any other moneys monies for the time being under its control is sufficient to make a distribution of shall be at least that amount or until it otherwise considers it advisable to apply 5% of the moniesPrincipal Sum. The foregoing will, however, shall not apply to a final payment in or distribution hereunder.