Common use of Extendible Notes Clause in Contracts

Extendible Notes. If specified on the face hereof, the Company has the option to extend the Stated Maturity of this Note for one or more periods of from one to five whole years (each an "Extension Period") up to but not beyond the date of final maturity, which shall in no event be more than thirty years from the Original Issue Date of this Note (the "Final Maturity Date"), and Exhibit A hereto will set forth each applicable Extension Period, the Final Maturity Date and any other terms and conditions applicable to such option. The Company may exercise such option by notifying the Paying Agent of such exercise at least 45 but not more than 60 calendar days prior to the Stated Maturity of this Note in effect prior to the exercise of such option (the "Original Stated Maturity Date"). If the Company so notifies the Paying Agent of such exercise, the Paying Agent will send, not later than 40 calendar days prior to the Original Stated Maturity Date, by facsimile transmission, hand delivery or letter (first class, postage prepaid), to the Holder hereof a notice (the "Extension Notice") relating to such Extension Period, indicating (i) that the Company has elected to extend the Stated Maturity of this Note, (ii) the new Stated Maturity, (iii) in the case of a Fixed Rate Note, the interest rate applicable to the Extension Period or, in the case of a Floating Rate Note, the Spread and/or Spread Multiplier applicable to the Extension Period, and (iv) the provisions, if any, for redemption during the Extension Period, including the date or dates on which or the period or periods during which and the price or prices at which such redemption may occur during the Extension Period. Upon the sending by the Paying Agent of an Extension Notice to the Holder hereof, the Stated Maturity of this Note shall be extended automatically, and, except as modified by the Extension Notice and as described in the next two paragraphs, this Note will have the same terms as prior to the sending of such Extension Notice. Notwithstanding the foregoing, not later than 20 calendar days prior to the Original Stated Maturity Date of a Note, the Company may, at its option, revoke the interest rate, in the case of a Fixed Rate Note, or the Spread and/or Spread Multiplier, in the case of a Floating Rate Note, provided for in the Extension Notice and establish a higher interest rate, in the case of a Fixed Rate Note, or a new Spread and/or Spread Multiplier which results in a higher interest rate, in the case of a Floating Rate Note, for the Extension Period by causing the Paying Agent to send by facsimile transmission, hand delivery or letter (first class, postage prepaid) notice of such higher interest rate or new Spread and/or Spread Multiplier, as the case may be, to the Holder of such Note. Such notice shall be irrevocable. All Notes with respect to which the Stated Maturity is extended will bear such higher interest rate, in the case of a Fixed Rate Note, or new Spread and/or Spread Multiplier, in the case of a Floating Rate Note, for the Extension Period, whether or not tendered for repayment as provided in the next paragraph. If the Company elects to extend the Stated Maturity of a Note, the Holder of such Note will have the option to elect repayment of such Note by the Company on the Original Stated Maturity Date at a price equal to the principal amount thereof plus any accrued and unpaid interest to such date. In order for a Note to be so repaid on the Original Stated Maturity Date, the Holder must follow the procedures set forth in paragraph 5 below for optional repayment, except that the period for delivery of such Note or notification to the Paying Agent shall be at least 25 but not more than 35 calendar days prior to the Original Stated Maturity Date. A Holder who has tendered a Note for repayment following receipt of an Extension Notice may revoke such tender for repayment by written notice to the Paying Agent received prior to 5:00 P.M., New York City time, on the tenth day prior to the Original Stated Maturity Date.

Extendible Notes. If it is specified on the face hereofhereof that this Note is an Extendible Note, the Company has the option to extend the Stated Maturity Date hereof for the number of this Note for one or more periods Extension Periods set forth on the face hereof, each of which Extension Periods shall be a period of from one to five whole years (each an "Extension Period") up to but not beyond years. Unless otherwise specified on the date of final maturityface hereof, which the following procedures shall in no event be more than thirty years from the Original Issue Date of apply if this Note (the "Final Maturity Date"), and Exhibit A hereto will set forth each applicable Extension Period, the Final Maturity Date and any other terms and conditions applicable to such optionis an Extendible Note. The Company may exercise such its option by notifying the Paying Agent Trustee of such exercise at least 45 but not more than 60 calendar days prior to the Stated Maturity of this Note Date hereof in effect prior to the exercise of such option (the "Original Stated Maturity DateMaturity"). If the Company so notifies the Paying Agent of such exerciseNot later than five Business Days after receipt thereof, the Paying Agent Trustee will send, not later than 40 calendar days prior to the Original Stated Maturity Date, by facsimile transmission, hand delivery or letter (first class, postage prepaid), mail to the Holder hereof a notice (the "Extension Notice") relating to such Extension Period), indicating first class, postage prepaid, setting forth (i) that the election of the Company has elected to extend the Stated Maturity of this NoteDate, (ii) the new Stated MaturityMaturity Date, (iii) in the case of a Fixed Rate Note, the interest rate applicable to the Extension Period or, in the case of a Floating Rate Note, the Spread and/or or Spread Multiplier applicable to the Extension Period, Period and (iv) the provisions, if any, for redemption during the Extension Period, including the date or dates on which or the period or periods during which and the price or prices at which such redemption may occur during the Extension Period. Upon the sending mailing by the Paying Agent Trustee of an Extension Notice to the Holder hereofHolder, the Stated Maturity of this Note Date hereof shall be extended automatically, and, except as modified by the Extension Notice and as described in the next two paragraphsparagraph, this Note will have the same terms as prior to the sending mailing of such Extension Notice. Notwithstanding the foregoing, not later than 20 calendar days prior to the Original Stated Maturity Date of a Notehereof, the Company may, at its option, revoke the interest rate, in the case of a Fixed Rate Note, Spread or the Spread and/or Spread Multiplier, in the case of a Floating Rate Note, Multiplier provided for in the Extension Notice and establish a higher interest rate, in the case of a Fixed Rate Note, Spread or a new Spread and/or Spread Multiplier which results in a higher interest rate, in the case of a Floating Rate Note, for the Extension Period by causing the Paying Agent Trustee to send by facsimile transmissionmail notice of such higher Spread or Spread Multiplier, hand delivery or letter (first class, postage prepaid) notice of such higher interest rate or new Spread and/or Spread Multiplier, as the case may be, to the Holder of such NoteHolder. Such notice shall be irrevocableirrevocable and shall be mailed by the Trustee within three Business Days after receipt thereof. All Notes with respect to which the Stated Maturity is extended This Note will bear such higher interest rate, in the case of a Fixed Rate Note, Spread or new Spread and/or Spread Multiplier, in the case of a Floating Rate Note, Multiplier for the Extension Period, whether or not tendered for repayment as provided in the next paragraphrepayment. If the Company elects to extend extends the Stated Maturity Date of a this Note, the Holder of such Note will have the option to elect repayment of such Note by the Company of this Note, or 28 any portion hereof, on the Original Stated Maturity Date at a price equal calculated with reference to the principal amount thereof Face Amount hereof to be repaid plus any accrued and unpaid interest to such date. In order for a this Note to be so repaid on the Original Stated Maturity DateMaturity, the Holder must follow the procedures set forth in paragraph 5 below Section 6 hereof for optional repayment, except that the period for delivery of such this Note or notification to the Paying Agent Trustee shall be at least 25 but not more than 35 calendar days prior to the Original Stated Maturity Date. A and except that the Holder who has tendered a Note for repayment following receipt of an Extension Notice may revoke such tender for repayment may, by written notice to the Paying Agent received prior to 5:00 P.M.Trustee, New York City time, revoke any such tender for repayment until the close of business on the tenth day prior to the Original Stated Maturity DateMaturity; provided, however, that if such day is not a Business Day, then such notice may be given on the next succeeding Business Day.

Extendible Notes. If specified on This Note may be issued as a Note in which the face hereof, the Company Issuer has the option to extend the Stated Notes' stated Maturity of this Note Date for one or more periods of from one to five whole years (each an "Extension Period") up to but not beyond a date set forth on the date of final maturity, which shall in no event be more than thirty years from the Original Issue Date of this Note face hereof (the "Final Maturity DateExtendible Notes"), and Exhibit A hereto will set forth each applicable Extension Period. In the event the Issuer elects to extend the Extendible Notes, the Final Maturity Date and any other terms and conditions applicable to such option. The Company may exercise such option by notifying Issuer must notify the Paying Agent of such exercise at least Trustee no less than 45 but not nor more than 60 calendar days prior to the Stated Maturity of this Note in effect prior to the exercise of such option (the "Original Stated Extendible Notes' original stated Maturity Date"). If The Trustee will notify the Company so notifies Holder of the Paying Agent Issuers extension of such exercise, the Paying Agent will send, not later than 40 calendar days prior to Maturity by first class mail. The notice must specify the Original Stated Extendible Notes' new Maturity Date, by facsimile transmission, hand delivery or letter (first class, postage prepaid), to the Holder hereof a notice (the "Extension Notice") relating to such Extension Period, indicating (i) that the Company has elected to extend the Stated Maturity of this Note, (ii) the new Stated Maturity, (iii) in the case of a Fixed Rate Note, the interest rate applicable to the Extension Period orextension period and any applicable redemption provisions. The interest rate may be increased for the extension period if the Issuer notifies the Trustee prior to 10:00 a.m., in New York City time, on the case of a Floating Rate Note, twentieth calendar day before the Spread and/or Spread Multiplier applicable extended Extendible Notes are scheduled to mature. The Trustee will send notice to the Extension Period, Holders in a manner agreed upon by the Trustee and (iv) the provisions, if any, for redemption during Issuer. This increased interest rate may not be revoked. In the Extension Period, including event the date or dates on which or Issuer extends the period or periods during which and the price or prices at which such redemption may occur during the Extension Period. Upon the sending by the Paying Agent of an Extension Notice to the Holder hereof, the Stated Maturity of this Note shall be extended automatically, and, except as modified by the Extension Notice and as described in the next two paragraphs, this Note will have the same terms as prior to the sending of such Extension Notice. Notwithstanding the foregoing, not later than 20 calendar days prior to the Original Stated Maturity Date of a Note, the Company may, at its option, revoke the interest rate, in the case of a Fixed Rate Note, or the Spread and/or Spread Multiplier, in the case of a Floating Rate Note, provided for in the Extension Notice and establish a higher interest rate, in the case of a Fixed Rate Note, or a new Spread and/or Spread Multiplier which results in a higher interest rate, in the case of a Floating Rate Note, for the Extension Period by causing the Paying Agent to send by facsimile transmission, hand delivery or letter (first class, postage prepaid) notice of such higher interest rate or new Spread and/or Spread Multiplier, as the case may be, to the Holder of such Note. Such notice shall be irrevocable. All Notes with respect to which the Stated Maturity is extended will bear such higher interest rate, in the case of a Fixed Rate Note, or new Spread and/or Spread Multiplier, in the case of a Floating Rate Note, for the Extension Period, whether or not tendered for repayment as provided in the next paragraph. If the Company elects to extend the Stated Maturity of a NoteExtendible Notes, the Holder of such Note will have has the option to elect repayment of require the Issuer to repay such Note by the Company Extendible Notes on the Original Stated Maturity Date then in effect at a price equal to the principal amount thereof of the Extendible Notes plus any accrued and unpaid interest to such date. In order for a Note to be so repaid on the Original Stated Maturity Date, exercise this option the Holder must follow notify the procedures set forth in paragraph 5 below for optional repayment, except that the period for delivery of such Note or notification to the Paying Agent shall be at least Trustee no less than 25 but not nor more than 35 60 calendar days prior to the Original Stated Maturity Datedate the Extendible Notes are scheduled to Mature. A Such notice may be made by delivering to the Trustee the Extendible Notes with the attached "Option to Elect Repayment" form completed, or a letter from a broker/dealer, bank or trust company notifying the Trustee of the Holder's intent to redeem its Extendible Notes and guaranteeing that the Extendible Notes and the attached "Option to Elect Repayment" form will be delivered no later than five Business Days after the date set for redemption. The Holder who has tendered a Note for repayment following receipt of an Extension Notice may revoke such tender for repayment by written notice its election to the Paying Agent received prior to 5:00 P.M.be repaid at any time before 3:00 p.m., New York City time, on the tenth twentieth calendar day prior to the Original Stated Maturity Datedate the Extendible Notes are scheduled to mature.

Extendible Notes. If it is specified on the face hereofhereof that this Note is an Extendible Note, the Company has the option to extend the Stated Maturity Date hereof for the number of this Note for one or more periods Extension Periods set forth on the face hereof, each of which Extension Periods shall be a period of from one to five whole years (each an "Extension Period") up to but not beyond years. Unless otherwise specified on the date of final maturityface hereof, which the following procedures shall in no event be more than thirty years from the Original Issue Date of apply if this Note (the "Final Maturity Date"), and Exhibit A hereto will set forth each applicable Extension Period, the Final Maturity Date and any other terms and conditions applicable to such optionis an Extendible Note. The Company may exercise such its option by notifying the Paying Agent Trustee of such exercise at least 45 but not more than 60 calendar days prior to the Stated Maturity of this Note Date hereof in effect prior to the exercise of such option (the "Original Stated Maturity DateMaturity"). If the Company so notifies the Paying Agent of such exerciseNot later than five Business Days after receipt thereof, the Paying Agent Trustee will send, not later than 40 calendar days prior to the Original Stated Maturity Date, by facsimile transmission, hand delivery or letter (first class, postage prepaid), mail to the Holder hereof a notice (the "Extension Notice") relating to such Extension Period), indicating first class, postage prepaid, setting forth (i) that the election of the Company has elected to extend the Stated Maturity of this NoteDate, (ii) the new Stated MaturityMaturity Date, (iii) in the case of a Fixed Interest Rate Note, the interest rate applicable to the Extension Period or, in the case of a Floating Rate Note, the Spread and/or Spread Multiplier applicable to the Extension Period, and (iv) the provisions, if any, for redemption during the 16 Extension Period, including the date or dates on which or the period or periods during which and the price or prices at which such redemption may occur during the Extension Period. Upon the sending mailing by the Paying Agent Trustee of an Extension Notice to the Holder hereofHolder, the Stated Maturity of this Note Date hereof shall be extended automatically, and, except as modified by the Extension Notice and as described in the next two paragraphsparagraph, this Note will have the same terms as prior to the sending mailing of such Extension Notice. Notwithstanding the foregoing, not later than 20 calendar days prior to the Original Stated Maturity Date of a Notehereof, the Company may, at its option, revoke the interest rate, in the case of a Fixed Rate Note, or the Spread and/or Spread Multiplier, in the case of a Floating Rate Note, rate provided for in the Extension Notice and establish a higher interest rate, in the case of a Fixed Rate Note, or a new Spread and/or Spread Multiplier which results in a higher interest rate, in the case of a Floating Rate Note, rate for the Extension Period by causing the Paying Agent Trustee to send by facsimile transmissionmail notice of such higher interest rate, hand delivery or letter (first class, postage prepaid) notice of such higher interest rate or new Spread and/or Spread Multiplier, as the case may be, to the Holder of such NoteHolder. Such notice shall be irrevocableirrevocable and shall be mailed by the Trustee within three Business Days after receipt thereof. All Notes with respect to which the Stated Maturity is extended This Note will bear such higher interest rate, in the case of a Fixed Rate Note, or new Spread and/or Spread Multiplier, in the case of a Floating Rate Note, rate for the Extension Period, whether or not tendered for repayment as provided in the next paragraphrepayment. If the Company elects to extend extends the Stated Maturity Date of a this Note, the Holder of such Note will have the option to elect repayment of such Note by the Company of this Note, or any portion hereof, on the Original Stated Maturity Date at a price equal calculated with reference to the principal amount thereof Face Amount hereof to be repaid plus any accrued and unpaid interest to such date. In order for a this Note to be so repaid on the Original Stated Maturity DateMaturity, the Holder must follow the procedures set forth in paragraph Section 5 below hereof for optional repayment, except that the period for delivery of such this Note or notification to the Paying Agent Trustee shall be at least 25 but not more than 35 calendar days prior to the Original Stated Maturity Date. A and except that the Holder who has tendered a Note for repayment following receipt of an Extension Notice may revoke such tender for repayment may, by written notice to the Paying Agent received prior to 5:00 P.M.Trustee, New York City time, revoke any such tender for repayment until the close of business on the tenth day prior to the Original Stated Maturity DateMaturity; provided, however, that if such day is not a Business Day, then such notice may be given on the next succeeding Business Day.