Common use of Effect on Subordination Provisions Clause in Contracts

Effect on Subordination Provisions. The provisions of Article XI are expressly made subject to the provisions for, and to the right of the Company to effect, the satisfaction and discharge of all of the Subordinated Notes as set forth in and in accordance with Section 3.01 and the provisions for, and to the right of the Company to effect, Legal Defeasance and Covenant Defeasance of all of the Subordinated Notes as set forth in and in accordance with Section 3.02. As a result, and anything herein to the contrary notwithstanding, if the Company complies with the provisions of Section 3.01 to effect the satisfaction and discharge of the Subordinated Notes or complies with the provisions of Section 3.02 to effect the Legal Defeasance or Covenant Defeasance, upon the effectiveness of such satisfaction and discharge in accordance with Section 3.01 or of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, in the case of satisfaction and discharge in accordance with Section 3.01, or, in the case of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, the Subordinated Notes as to which Legal Defeasance or Covenant Defeasance, as the case may be, will have become effective will thereupon cease to be so subordinated in right of payment to the Senior Indebtedness and will no longer be subject to the provisions of Article XI and, without limitation to the foregoing, all moneys and Government Obligations deposited with the Trustee (or other qualifying trustee) in trust in connection with such satisfaction and discharge, Legal Defeasance or Covenant Defeasance, as the case may be, and all proceeds therefrom may be applied to pay the principal of, and interest, if any, on, such Subordinated Notes as and when the same will become due and payable notwithstanding the provisions of Article XI without regard to whether any or all of the Senior Indebtedness then outstanding will have been paid or otherwise provided for.

Effect on Subordination Provisions. The provisions of Article XI are expressly made subject to the provisions for, and to the right of the Company to effect, the satisfaction and discharge of all of the Subordinated Notes as set forth in and in accordance with Section 3.01 and the provisions for, and to the right of the Company to effect, Legal Defeasance and Covenant Defeasance of all of the Subordinated Notes as set forth in and in accordance with Section 3.02. As a result, and anything herein to the contrary notwithstanding, if the Company complies with the provisions of Section 3.01 to effect the satisfaction and discharge of the Subordinated Notes or complies with the provisions of Section 3.02 to effect the Legal Defeasance or Covenant Defeasance, upon the effectiveness of such satisfaction and discharge in accordance with Section 3.01 or of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, in the case of satisfaction and discharge in accordance with Section 3.01, or, in the case of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, the Subordinated Notes as to which Legal Defeasance or Covenant Defeasance, as the case may be, will have become effective will thereupon cease to be so subordinated in right of payment to the Senior Indebtedness and will no longer be subject to the provisions of Article XI and, without limitation to the foregoing, all moneys and Government Obligations deposited with the Trustee (or other qualifying trustee) in trust in connection with such satisfaction and discharge, . Legal Defeasance or Covenant Defeasance, as the case may be, and all proceeds therefrom may be applied to pay the principal of, and interest, if any, on, such Subordinated Notes as and when the same will become due and payable notwithstanding the provisions of Article XI without regard to whether any or all of the Senior Indebtedness then outstanding will have been paid or otherwise provided for.

Effect on Subordination Provisions. The provisions of Article XI ARTICLE XIII are expressly made subject to the provisions for, and to the right of the Company to effect, the satisfaction and discharge of all of the Subordinated Notes Debt Securities as set forth in and in accordance with Section 3.01 3.1 and the provisions for, and to the right of the Company to effect, Legal Defeasance and Covenant Defeasance of all of the Subordinated Notes Debt Securities as set forth in and in accordance with Section 3.023.2. As a result, and anything herein to the contrary notwithstanding, if the Company complies with the provisions of Section 3.01 3.1 to effect the satisfaction and discharge of the Subordinated Notes or complies with the provisions of Section 3.02 to effect the Legal Defeasance or Covenant DefeasanceDebt Securities, upon the effectiveness of such satisfaction and discharge in accordance with Section 3.01 3.1, the Debt Securities as to which satisfaction and discharge will have become effective will thereupon cease to be so subordinated in right of payment to the Senior Indebtedness and will no longer be subject to the provisions of ARTICLE XIII and, without limitation to the foregoing, all moneys and Government Obligations deposited with the Trustee (or other qualifying trustee) in trust in connection with such satisfaction and discharge may be applied to pay the principal of and interest, if any, on such Debt Securities as and when the same will become due and payable, notwithstanding the provisions of ARTICLE XIII without regard to whether any or all of the Senior Indebtedness then outstanding will have been paid or otherwise provided for. Similarly, and anything herein to the contrary notwithstanding, if the Company complies with the provisions of Section 3.2 to effect Legal Defeasance or Covenant Defeasance with respect to the Debt Securities, upon the effectiveness of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, in the case of satisfaction and discharge in accordance with Section 3.01, or, in the case of Legal Defeasance or Covenant Defeasance in accordance with Section 3.023.2, the Subordinated Notes Debt Securities as to which Legal Defeasance or Covenant Defeasance, as the case may be, will have become effective will thereupon cease to be so subordinated in right of payment to the Senior Indebtedness and will no longer be subject to the provisions of Article XI ARTICLE XIII and, without limitation to the foregoing, all moneys and Government Obligations deposited with the Trustee (or other qualifying trustee) in trust in connection with such satisfaction and discharge, Legal Defeasance or Covenant Defeasance, as the case may be, and all proceeds therefrom Defeasance may be applied to pay the principal of, and interest, if any, on, such Subordinated Notes Debt Securities as and when the same will become due and payable notwithstanding the provisions of Article XI ARTICLE XIII without regard to whether any or all of the Senior Indebtedness then outstanding will have been paid or otherwise provided for.

Effect on Subordination Provisions. The Unless otherwise expressly provided pursuant to Section 301 with respect to the Subordinated Securities of any series, the provisions of Article XI Sixteen hereof, insofar as they pertain to the Subordinated Securities of such series, and the Subordination Provisions established pursuant to Section 301(25) with respect to such series are hereby expressly made subject to the provisions for, and to the right of the Company to effect, the for satisfaction and discharge of all of the Subordinated Notes as set forth in and in accordance with Section 3.01 401 hereof and the provisions for, for defeasance and to the right of the Company to effect, Legal Defeasance and Covenant Defeasance of all of the Subordinated Notes as covenant defeasance set forth in and in accordance with Section 3.02. As a result402 hereof and, and anything herein to the contrary notwithstanding, if the Company complies with the provisions of Section 3.01 to effect the satisfaction and discharge of the Subordinated Notes or complies with the provisions of Section 3.02 to effect the Legal Defeasance or Covenant Defeasance, upon the effectiveness of such satisfaction and discharge in accordance pursuant to Section 401 with respect to the Securities of such series or any such defeasance or covenant defeasance pursuant to Section 3.01 402 with respect to the Securities of or within such series, all of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, the Securities of such series (in the case of satisfaction and discharge in accordance with pursuant to Section 3.01, or, in 401) or the case Securities of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, the Subordinated Notes such series as to which Legal Defeasance defeasance or Covenant Defeasancecovenant defeasance, as the case may be, will shall have become effective will shall thereupon cease to be so subordinated in right of payment to the Senior Indebtedness and will shall no longer be subject to the provisions of Article XI Sixteen or the Subordination Provisions established pursuant to Section 301(25) with respect to such Securities and, without limitation to the foregoing, all moneys and moneys, Government Obligations and other securities or property deposited with the Trustee (or other qualifying trustee) in trust in connection with such satisfaction and discharge, Legal Defeasance defeasance or Covenant Defeasancecovenant defeasance, as the case may be, and all proceeds therefrom may be applied to pay the principal of, premium, if any, and interest, if any, on, and Additional Amounts, if any, with respect to such Subordinated Notes Securities as and when the same will shall become due and payable notwithstanding the provisions of Article XI without regard to whether any Sixteen or all of the Senior Indebtedness then outstanding will have been paid or otherwise provided forsuch Subordination Provisions.

Effect on Subordination Provisions. The provisions of Article XI are expressly made subject to the provisions for, and to the right of the Company to effect, the satisfaction and discharge of all of the Subordinated Notes as set forth in and in accordance with Section 3.01 and the provisions for, and to the right of the Company to effect, Legal Defeasance and Covenant Defeasance of all of the Subordinated Notes as set forth in and in accordance with Section 3.02. As a result, and anything herein to the contrary notwithstanding, if the Company complies with the provisions of Section 3.01 to effect the satisfaction and discharge of the Subordinated Notes or complies with the provisions of Section 3.02 to effect the Legal Defeasance or Covenant Defeasance, upon the effectiveness of such satisfaction and discharge in accordance with Section 3.01 or of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, in the case of satisfaction and discharge in accordance with Section 3.01, or, in the case of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, the Subordinated Notes as to which Legal Defeasance or Covenant Defeasance, as the case may be, will have become effective will thereupon cease to be so subordinated in right of payment to the Senior Indebtedness and will no longer be subject to the provisions of Article XI and, without limitation to the foregoing, all moneys and Government Obligations deposited with the Trustee (or other qualifying trustee) in trust in connection with such satisfaction and discharge, Legal Defeasance or Covenant Defeasance, as the case may be, and all proceeds therefrom may be applied to pay the principal of, and interest, if any, on, on such Subordinated Notes as and when the same will become due and payable notwithstanding the provisions of Article XI without regard to whether any or all of the Senior Indebtedness then outstanding will have been paid or otherwise provided for.

Effect on Subordination Provisions. The Unless otherwise expressly provided pursuant to Section 301 with respect to the Subordinated Securities of any series, the provisions of Article XI Sixteen hereof, insofar as they pertain to the Subordinated Securities of such series, and the Subordination Provisions established pursuant to Section 301(24) with respect to such series are hereby expressly made subject to the provisions for, and to the right of the Company to effect, the for satisfaction and discharge of all of the Subordinated Notes as set forth in and in accordance with Section 3.01 401 hereof and the provisions for, for defeasance and to the right of the Company to effect, Legal Defeasance and Covenant Defeasance of all of the Subordinated Notes as covenant defeasance set forth in and in accordance with Section 3.02. As a result402 hereof and, and anything herein to the contrary notwithstanding, if the Company complies with the provisions of Section 3.01 to effect the satisfaction and discharge of the Subordinated Notes or complies with the provisions of Section 3.02 to effect the Legal Defeasance or Covenant Defeasance, upon the effectiveness of such satisfaction and discharge in accordance pursuant to Section 401 with respect to the Securities of such series or any such defeasance or covenant defeasance pursuant to Section 3.01 402 with respect to the Securities of or within such series, all of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, the Securities of such series (in the case of satisfaction and discharge in accordance with pursuant to Section 3.01, or, in 401) or the case Securities of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, the Subordinated Notes such series as to which Legal Defeasance defeasance or Covenant Defeasancecovenant defeasance, as the case may be, will shall have become effective will shall thereupon cease to be so subordinated in right of payment to the Senior Indebtedness and will shall no longer be subject to the provisions of Article XI Sixteen or the Subordination Provisions established pursuant to Section 301(24) with respect to such Securities and, without limitation to the foregoing, all moneys and moneys, Government Obligations and other securities or property deposited with the Trustee (or other qualifying trustee) in trust in connection with such satisfaction and discharge, Legal Defeasance defeasance or Covenant Defeasancecovenant defeasance, as the case may be, and all proceeds therefrom may be applied to pay the principal of, premium, if any, and interest, if any, on, and Additional Amounts, if any, with respect to such Subordinated Notes Securities as and when the same will shall become due and payable notwithstanding the provisions of Article XI without regard to whether any Sixteen or all of the Senior Indebtedness then outstanding will have been paid or otherwise provided forsuch Subordination Provisions.

Effect on Subordination Provisions. The Unless otherwise expressly provided pursuant to Section 301 with respect to the Securities of any series, the provisions of Article XI Sixteen hereof, insofar as they pertain to the Securities of such series, and the Subordination Provisions established pursuant to Section 301(25) with respect to such series are hereby expressly made subject to the provisions for, and to the right of the Company to effect, the for satisfaction and discharge of all of the Subordinated Notes as set forth in and in accordance with Section 3.01 401 hereof and the provisions for, for defeasance and to the right of the Company to effect, Legal Defeasance and Covenant Defeasance of all of the Subordinated Notes as covenant defeasance set forth in and in accordance with Section 3.02. As a result402 hereof and, and anything herein to the contrary notwithstanding, if the Company complies with the provisions of Section 3.01 to effect the satisfaction and discharge of the Subordinated Notes or complies with the provisions of Section 3.02 to effect the Legal Defeasance or Covenant Defeasance, upon the effectiveness of such satisfaction and discharge in accordance pursuant to Section 401 with respect to the Securities of such series or any such defeasance or covenant defeasance pursuant to Section 3.01 402 with respect to the Securities of or within such series, all of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, the Securities of such series (in the case of satisfaction and discharge in accordance with pursuant to Section 3.01, or, in 401) or the case Securities of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, the Subordinated Notes such series as to which Legal Defeasance defeasance or Covenant Defeasancecovenant defeasance, as the case may be, will shall have become effective will shall thereupon cease to be so subordinated in right of payment to the Senior Indebtedness and will shall no longer be subject to the provisions of Article XI Sixteen or the Subordination Provisions established pursuant to Section 301(25) with respect to such Securities and, without limitation to the foregoing, all moneys and moneys, Government Obligations and other securities or property deposited with the Trustee (or other qualifying trustee) in trust in connection with such satisfaction and discharge, Legal Defeasance defeasance or Covenant Defeasancecovenant defeasance, as the case may be, and all proceeds therefrom may be applied to pay the principal of, premium, if any, and interest, if any, on, and Additional Amounts, if any, with respect to such Subordinated Notes Securities as and when the same will shall become due and payable notwithstanding the provisions of Article XI without regard to whether any Sixteen or all of the Senior Indebtedness then outstanding will have been paid or otherwise provided forsuch Subordination Provisions.

Effect on Subordination Provisions. The Unless otherwise expressly provided pursuant to Section 301 with respect to the Securities of any series, the provisions for subordination of the Securities set forth in Article XI Fourteen hereof and, in the case of Guaranteed Securities, the provisions for subordination of the Guarantee set forth in Article Fifteen hereof are hereby expressly made subject to the provisions for, and to the right of the Company to effect, the for satisfaction and discharge of all of the Subordinated Notes as set forth in and in accordance with Section 3.01 401 hereof and the provisions for, for defeasance and to the right of the Company to effect, Legal Defeasance and Covenant Defeasance of all of the Subordinated Notes as covenant defeasance set forth in and in accordance with Section 3.02. As a result1006 hereof and, and anything herein to the contrary notwithstanding, if the Company complies with the provisions of Section 3.01 to effect the satisfaction and discharge of the Subordinated Notes or complies with the provisions of Section 3.02 to effect the Legal Defeasance or Covenant Defeasance, upon the effectiveness of such satisfaction and discharge in accordance pursuant to Section 401 or any such defeasance or covenant defeasance pursuant to Section 1006 with Section 3.01 or respect to the Securities of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02any series, such Securities and, in the case of satisfaction and discharge in accordance with Section 3.01, or, in the case of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02Guaranteed Securities, the Subordinated Notes as to which Legal Defeasance or Covenant Defeasance, as the case may be, will have become effective will Guarantee shall thereupon cease to be so subordinated and such Securities and, in right the case of payment to Guaranteed Securities, the Senior Indebtedness Guarantee (and will the monies and/or U.S. Government Obligations deposited in respect thereof) shall no longer be subject to the provisions of Article XI Fourteen or, in the case of Guaranteed Securities, Article Fifteen, hereof and, without limitation to the foregoing, all moneys and moneys, U.S. Government Obligations and other securities or property deposited with the Trustee (or other qualifying trustee) in trust in connection with such satisfaction and discharge, Legal Defeasance defeasance or Covenant Defeasancecovenant defeasance, as the case may be, and all proceeds therefrom may be applied to pay the principal of, premium, if any, and interest, if any, on, the Securities of such Subordinated Notes series as and when the same will shall become due and payable notwithstanding the provisions of Article XI without regard to whether any or all Fourteen and, in the case of the Senior Indebtedness then outstanding will have been paid or otherwise provided forGuaranteed Securities, Article Fifteen.

Effect on Subordination Provisions. The Unless otherwise expressly provided pursuant to Section 301 with respect to the Securities of any Series, the provisions of Article XI Fifteen hereof, insofar as they pertain to the Securities of such Series, and the Subordination Provisions of the Securities of such Series established pursuant to Section 301(20) are hereby expressly made subject to the provisions for, and to the right of the Company to effect, the satisfaction and discharge of all of the Subordinated Notes Securities of such Series as set forth in and in accordance with pursuant to Section 3.01 401 and the provisions for, and to the right of the Company to effect, Legal Defeasance defeasance and Covenant Defeasance covenant defeasance of all the Securities of the Subordinated Notes such Series or designated Securities within such Series as set forth in and in accordance with pursuant to Section 3.02402. As a result, and anything herein to the contrary notwithstanding, if the Company complies with the provisions of Section 3.01 401 to effect the satisfaction and discharge of all of the Subordinated Notes Securities of a Series or complies with the provisions of Section 3.02 402 to effect the Legal Defeasance defeasance or Covenant Defeasancecovenant defeasance of designated Securities within a Series (which may be all of the Securities of such Series), upon the effectiveness of such satisfaction and discharge in accordance pursuant to Section 401 with Section 3.01 respect to all of the Securities of such Series or of Legal Defeasance defeasance or Covenant Defeasance in accordance covenant defeasance pursuant to Section 402 with Section 3.02respect to the Securities within such Series designated for such defeasance or covenant defeasance, all of the Securities of such Series, in the case of satisfaction and discharge in accordance with pursuant to Section 3.01401, or, in the case of Legal Defeasance defeasance or Covenant Defeasance in accordance with covenant defeasance pursuant to Section 3.02402, the Subordinated Notes Securities of such Series as to which Legal Defeasance defeasance or Covenant Defeasancecovenant defeasance, as the case may be, will shall have become effective will shall thereupon cease to be so subordinated in right of payment to the Senior Indebtedness and will shall no longer be subject to the provisions of Article XI Fifteen or the Subordination Provisions of such Securities established pursuant to Section 301(20) and, without limitation to the foregoing, all moneys and moneys, Government Obligations and other securities or property deposited with the Trustee (or other qualifying trustee) in trust in connection with such satisfaction and discharge, Legal Defeasance defeasance or Covenant Defeasancecovenant defeasance, as the case may be, and all proceeds therefrom may be applied to pay the principal of, and premium, if any, and interest, if any, on, such Subordinated Notes Securities as and when the same will shall become due and payable notwithstanding the provisions of Article XI Fifteen or such Subordination Provisions without regard to whether any or all of the Senior Indebtedness then outstanding will shall have been paid or otherwise provided for.. 40

Effect on Subordination Provisions. The provisions of Article XI are expressly made subject to the provisions for, and to the right of the Company to effect, the satisfaction and discharge of all of the Subordinated Notes as set forth in and in accordance with Section 3.01 and the provisions for, and to the right of the Company to effect, Legal Defeasance and Covenant Defeasance of all of the Subordinated Notes as set forth in and in accordance with Section 3.02. As a result, and anything herein to the contrary notwithstanding, if the Company complies with the provisions of Section 3.01 to effect the satisfaction and discharge of the Subordinated Notes or complies with the provisions of Section 3.02 to effect the Legal Defeasance or Covenant Defeasance, upon the effectiveness of such satisfaction and discharge in accordance with Section 3.01 or of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, in the case of satisfaction and discharge in accordance with Section 3.01, or, in the case of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, the Subordinated Notes as to which satisfaction and discharge or Legal Defeasance or Covenant Defeasance, as the case may be, will shall have become effective will thereupon cease to be so subordinated in right of payment to the Senior Indebtedness and will no longer be subject to the provisions of Article XI and, without limitation to the foregoing, all moneys and Government Obligations deposited with the Trustee (or other qualifying trustee) in trust in connection with such satisfaction and discharge, Legal Defeasance Defeasance, or Covenant Defeasance, as the case may be, and all proceeds therefrom may be applied to pay the principal of, and interest, if any, on, such Subordinated Notes as and when the same will become due and payable notwithstanding the provisions of Article XI without regard to whether any or all of the Senior Indebtedness then outstanding will shall have been paid or otherwise provided for.

Effect on Subordination Provisions. The provisions Unless otherwise expressly provided pursuant to Section 301 with respect to the Securities of Article XI any series, the Subordination Provisions applicable to the Securities of each series are hereby expressly made subject to the provisions for, and to the right of the Company to effect, the for satisfaction and discharge of all of the Subordinated Notes as set forth in and in accordance with Section 3.01 401 hereof and the provisions for, and to the right of the Company to effect, Legal for Defeasance and Covenant Defeasance of all of the Subordinated Notes as set forth in and in accordance with Section 3.02. As a resultthis Article Thirteen and, and anything herein to the contrary notwithstanding, if the Company complies with the provisions of Section 3.01 to effect upon the satisfaction and discharge of the Subordinated Notes or complies with the provisions of Section 3.02 conditions to effect the Legal Defeasance or Covenant Defeasance, upon the and effectiveness of such satisfaction and discharge in accordance with pursuant to Section 3.01 401, or of Legal any such Defeasance or Covenant Defeasance in accordance with Section 3.02pursuant to this Article Thirteen, in each case with respect to the case Securities of satisfaction and discharge in accordance with Section 3.01such series, or, in the case of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, the Subordinated Notes as to which Legal Defeasance or Covenant Defeasance, as the case may be, will have become effective will such Securities shall thereupon cease to be so subordinated in right of payment to the Senior Indebtedness (as defined with respect to the Securities of such series) and will shall no longer be subject to the provisions Subordination Provisions which would otherwise be applicable to the Securities of Article XI such series and, without limitation to the foregoing, all moneys and Government Obligations deposited with the Trustee (or other qualifying trustee) in trust in connection with such satisfaction and discharge, Legal Defeasance or Covenant Defeasance, as the case may be, and all proceeds therefrom may be applied to pay the principal of, premium, if any, and interest, if any, on, the Securities of such Subordinated Notes series as and when the same will shall become due and payable notwithstanding (including, without limitation, payment of the provisions Redemption Price of Article XI any Securities of such series which have been or are to be called for redemption on a Redemption Date on or after the date on which such satisfaction and discharge, Defeasance or Covenant Defeasance, as the case may be, shall have become effective, together with accrued and unpaid interest thereon) without regard to whether any or all of the Senior Indebtedness then outstanding will Subordination Provisions that would otherwise have been paid or otherwise provided forapplicable to the Securities of such series.

Effect on Subordination Provisions. The provisions of Article XI are expressly made subject to the provisions for, and to the right of the Company to effect, the satisfaction and discharge of all of the Subordinated Notes as set forth in and in accordance with Section 3.01 and the provisions for, and to the right of the Company to effect, Legal Defeasance and Covenant Defeasance of all of the Subordinated Notes as set forth in and in accordance with Section 3.02. As a result, and anything herein to the contrary notwithstanding, if the Company complies with the provisions of Section 3.01 to effect the satisfaction and discharge of the Subordinated Notes or complies with the provisions of Section 3.02 to effect the Legal Defeasance or Covenant Defeasance, upon the effectiveness of such satisfaction and discharge in accordance with Section 3.01 or of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, in the case of satisfaction and discharge in accordance with Section 3.01, or, in the case of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, the Subordinated Notes as to which Legal Defeasance or Covenant Defeasance, as the case may be, will have become effective will thereupon cease to be so subordinated in right of payment to the Senior Indebtedness and will no longer be subject to the provisions of Article XI and, without limitation to the foregoing, all moneys and Government Obligations deposited with the Trustee (or other qualifying trustee) in trust in connection with such satisfaction and discharge, . Legal Defeasance or Covenant Defeasance, as the case may be, and all proceeds therefrom may be applied to pay the principal of, and interest, if any, on, such Subordinated Notes as and when the same will become due and payable notwithstanding the provisions of Article XI without regard to whether any or all of the Senior Indebtedness then outstanding will have been paid or otherwise provided for.

Effect on Subordination Provisions. The Unless otherwise expressly provided pursuant to Section 301 with respect to the Securities of any series, the provisions of Article XI Sixteen hereof, insofar as they pertain to the Securities of such series, and the Subordination Provisions established pursuant to Section 301(26) with respect to such series are hereby expressly made subject to the provisions for, and to the right of the Company to effect, the for satisfaction and discharge of all of the Subordinated Notes as set forth in and in accordance with Section 3.01 401 hereof and the provisions for, and to the right of the Company to effect, Legal Defeasance and Covenant Defeasance of all of the Subordinated Notes as for defeasance set forth in and in accordance with Section 3.02. As a result403 hereof and, and anything herein to the contrary notwithstanding, if the Company complies with the provisions of Section 3.01 to effect the satisfaction and discharge of the Subordinated Notes or complies with the provisions of Section 3.02 to effect the Legal Defeasance or Covenant Defeasance, upon the effectiveness of such satisfaction and discharge in accordance pursuant to Section 401 with respect to the Securities of such series or any such defeasance pursuant to Section 3.01 403 with respect to the Securities of or within such series, all of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, the Securities of such series (in the case of satisfaction and discharge in accordance with pursuant to Section 3.01, or, in 403) or the case Securities of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, the Subordinated Notes such series as to which Legal Defeasance or Covenant Defeasance, as the case may be, will defeasance shall have become effective will shall thereupon cease to be so subordinated in right of payment to the Senior Indebtedness and will shall no longer be subject to the provisions of Article XI Sixteen or the Subordination Provisions established pursuant to Section 301(26) with respect to such Securities and, without limitation to the foregoing, all moneys and moneys, Government Obligations and other securities or property deposited with the Trustee (or other qualifying trustee) in trust in connection with such satisfaction and discharge, Legal Defeasance discharge or Covenant Defeasancedefeasance, as the case may be, and all proceeds therefrom may be applied to pay the principal of, premium, if any, and interest, if any, on, and Additional Amounts, if any, with respect to such Subordinated Notes Securities as and when the same will shall become due and payable notwithstanding the provisions of Article XI without regard to whether any Sixteen or all of the Senior Indebtedness then outstanding will have been paid or otherwise provided for.such Subordination Provisions. ARTICLE FIVE REMEDIES

Effect on Subordination Provisions. The Unless otherwise expressly provided pursuant to Section 301 with respect to the Subordinated Securities of any series, the provisions of Article XI Sixteen hereof, insofar as they pertain to the Subordinated Securities of such series, and the Subordination Provisions established pursuant to Section 301(25) with respect to such series, are hereby expressly made subject to the provisions for, and to the right of the Company to effect, the for satisfaction and discharge of all of the Subordinated Notes as set forth in and in accordance with Section 3.01 401 hereof and the provisions for, for defeasance and to the right of the Company to effect, Legal Defeasance and Covenant Defeasance of all of the Subordinated Notes as covenant defeasance set forth in and in accordance with Section 3.02. As a result402 hereof and, and anything herein to the contrary notwithstanding, if the Company complies with the provisions of Section 3.01 to effect the satisfaction and discharge of the Subordinated Notes or complies with the provisions of Section 3.02 to effect the Legal Defeasance or Covenant Defeasance, upon the effectiveness of such satisfaction and discharge in accordance pursuant to Section 401 with respect to the Securities of such series or any such defeasance or covenant defeasance pursuant to Section 3.01 402 with respect to the Securities of or within such series, all of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, the Securities of such series (in the case of satisfaction and discharge in accordance with pursuant to Section 3.01, or, in 401) or the case Securities of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, the Subordinated Notes such series as to which Legal Defeasance defeasance or Covenant Defeasancecovenant defeasance, as the case may be, will shall have become effective will shall thereupon cease to be so subordinated in right of payment to the Senior Indebtedness and will shall no longer be subject to the provisions of Article XI Sixteen or the Subordination Provisions established pursuant to Section 301(25) with respect to such Securities and, without limitation to the foregoing, all moneys and moneys, Government Obligations and other securities or property deposited with the Trustee (or other qualifying trustee) in trust in connection with such satisfaction and discharge, Legal Defeasance defeasance or Covenant Defeasancecovenant defeasance, as the case may be, and all proceeds therefrom may be applied to pay the principal of, premium, if any, and interest, if any, on, and Additional Amounts, if any, with respect to such Subordinated Notes Securities as and when the same will shall become due and payable notwithstanding the provisions of Article XI without regard to whether any Sixteen or all of the Senior Indebtedness then outstanding will have been paid or otherwise provided forsuch Subordination Provisions.

Effect on Subordination Provisions. The provisions of Article XI are expressly made subject to the provisions for, and to the right of the Company to effect, the satisfaction and discharge of all of the Subordinated Notes as set forth in and in accordance with Section 3.01 and the provisions for, and to the right of the Company to effect, Legal Defeasance and Covenant Defeasance of all of the Subordinated Notes as set forth in and in accordance with Section 3.02. As a result, and notwithstanding anything herein to the contrary notwithstandingcontrary, if the Company complies with the provisions of Section 3.01 to effect the satisfaction and discharge of the Subordinated Notes or complies with the provisions of Section 3.02 to effect the Legal Defeasance or Covenant Defeasance, upon the effectiveness of such satisfaction and discharge in accordance with Section 3.01 or of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, in the case of satisfaction and discharge in accordance with Section 3.01, or, in the case of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, the Subordinated Notes as to which Legal Defeasance or Covenant Defeasance, as the case may be, will have become effective will thereupon cease to be so subordinated in right of payment to the Senior Indebtedness and will no longer be subject to the provisions of Article XI and, without limitation to the foregoing, all moneys and Government Obligations deposited with the Trustee (or other qualifying trustee) in trust in connection with such satisfaction and discharge, Legal Defeasance or Covenant Defeasance, as the case may be, and all proceeds therefrom may be applied to pay the principal of, and interest, if any, on, on such Subordinated Notes as and when the same will become due and payable notwithstanding the provisions of Article XI without regard to whether any or all of the Senior Indebtedness then outstanding will have been paid or otherwise provided for.

Effect on Subordination Provisions. The provisions of Article XI are expressly made subject to the provisions for, and to the right of the Company to effect, the satisfaction and discharge of all of the Subordinated Notes as set forth in and in accordance with Section 3.01 and the provisions for, and to the right of the Company to effect, Legal Defeasance and Covenant Defeasance of all of the Subordinated Notes as set forth in and in accordance with Section 3.02. As a result, and anything herein to the contrary notwithstanding, if the Company complies with the provisions of Section 3.01 to effect the satisfaction and discharge of the Subordinated Notes or complies with the provisions of Section 3.02 to effect the Legal Defeasance or Covenant Defeasance, upon the effectiveness of such satisfaction and discharge in accordance with Section 3.01 or of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, in the case of satisfaction and discharge in accordance with Section 3.01, or, in the case of Legal Defeasance or Covenant Defeasance in accordance with Section 3.02, the Subordinated Notes as to which Legal Defeasance or Covenant Defeasance, as the case may be, will have become effective will thereupon cease to be so subordinated in right of payment to the Senior Indebtedness and will no longer be subject to the provisions of Article XI and, without limitation to the foregoing, all moneys and Government Obligations deposited with the Trustee (or other qualifying trustee) in trust in connection with such satisfaction and discharge, Legal Defeasance or Covenant Defeasance, as the case may be, and all proceeds therefrom may be applied to pay the principal of, and interest, if any, on, such Subordinated Notes as and when the same will become due and payable notwithstanding the provisions of Article XI without regard to whether any or all of the Senior Indebtedness then outstanding will have been paid or otherwise provided for.