Common use of Issuer's Option to Effect Defeasance Clause in Contracts

Issuer's Option to Effect Defeasance. The Issuer may at its option, by Board Resolution, at any time, elect to defease the Issuer's obligations under the Outstanding Securities of any series and this Indenture in accordance with either Section 12.02 or Section 12.03 upon compliance with the conditions set forth below in this Article Twelve. Notwithstanding any such election, the terms of the Securities of such series shall remain in full force and effect.

Issuer's Option to Effect Defeasance. The Issuer may at its option, by resolution of the Board Resolutionof Directors, at any time, elect to defease the Issuer's ’s obligations under the Outstanding Securities of any series and this Indenture in accordance with either Section 12.02 or Section 12.03 upon compliance with the conditions set forth below in this Article Twelve. Notwithstanding any such election, the terms of the Securities of such series shall remain in full force and effect.

Issuer's Option to Effect Defeasance. The Issuer may at its option, by Board Resolution, at any time, elect to defease the Issuer's ’s obligations under the Outstanding Securities of any series and this Indenture in accordance with either Section 12.02 or Section 12.03 upon compliance with the conditions set forth below in this Article Twelve12. Notwithstanding any such election, the terms of the Securities of such series shall remain in full force and effect.