Common use of Non-Presentation of Debentures Clause in Contracts

Non-Presentation of Debentures. In case the holder of any Debenture shall fail to present the same for payment on the date on which the principal of, premium (if any) or the interest thereon or represented thereby becomes payable either at maturity or otherwise or shall not accept payment on account thereof and give such receipt therefor, if any, as the Trustee may require the Corporation shall be entitled to pay or deliver to the Trustee and direct it to set aside the Common Shares in trust to be paid to the holder of such Debenture upon due presentation or surrender thereof in accordance with the provisions of this Indenture; and thereupon the principal of, premium (if any) or the interest payable on or represented by each Debenture in respect whereof such Common Shares have been set aside shall be deemed to have been paid and the holder thereof shall thereafter have no right in respect thereof except that of receiving delivery and payment of the Common Shares so set aside by the Trustee upon due presentation and surrender thereof, subject always to the provisions of Section 9.3.

Non-Presentation of Debentures. In case the holder of any Debenture shall fail to present the same for payment on the date on which the principal of, premium (if any) of or the interest thereon or represented thereby becomes payable either at maturity or otherwise or shall not accept payment on account thereof and give such receipt therefor, if any, as the Trustee may require require: the Corporation shall be entitled to pay or deliver to the Trustee and direct it to set aside aside; or in respect of monies in the Common Shares hands of the Trustee which may or should be applied to the payment of the Debentures, the Corporation shall be entitled to direct the Trustee to set aside; or if the redemption was pursuant to notice given by the Trustee, the Trustee may itself set aside; the monies in trust to be paid to the holder of such Debenture upon due presentation or surrender thereof in accordance with the provisions of this Indenture; and thereupon the principal of, premium (if any) or the interest payable on on, or represented by each Debenture in respect whereof such Common Shares monies have been set aside shall be deemed to have been paid and the holder thereof shall thereafter have no right in respect thereof except that of receiving delivery and payment of the Common Shares monies so set aside by the Trustee upon due presentation and surrender thereof, subject always to the provisions of Section 9.3.

Non-Presentation of Debentures. In case the holder of any Debenture shall fail to present the same for payment on the date on which the principal of, premium (if any) or the interest thereon or represented thereby becomes payable either at maturity or otherwise or shall not accept payment on account thereof and give such receipt therefor, if any, as the Trustee may require require, the Corporation shall be entitled to pay or deliver to the Trustee and direct it to set aside the Common Shares (or, where applicable, the cash amount payable pursuant to Section 2.14 or Section 8.1) in trust to be paid to the holder of such Debenture upon due presentation or surrender thereof in accordance with the provisions of this Indenture; and thereupon the principal of, premium (if any) or the interest payable on or represented by each Debenture in respect whereof such Common Shares (or, where applicable, the cash amount payable pursuant to Section 2.14 or Section 8.1) have been set aside shall be deemed to have been paid and the holder thereof shall thereafter have no right in respect thereof except that of receiving delivery and payment of the Common Shares (or, where applicable, the cash amount payable pursuant to Section 2.14 or Section 8.1) so set aside by the Trustee upon due presentation and surrender thereof, subject always to the provisions of Section 9.3.