Common use of Not to Extend Time for Payment of Interest or Principal Clause in Contracts

Not to Extend Time for Payment of Interest or Principal. The Corporation covenants that, in order to prevent any accumulation after maturity of unpaid interest or of unpaid Debentures, the Corporation will not directly or indirectly extend or assent to the extension of time for payment of any interest upon any Debentures or of any principal payable in respect of any Debentures and that it will not directly or indirectly be or become a party to or approve any such arrangement by purchasing or funding any interest on the Debentures or any principal thereof or in any other manner and that the Corporation will deliver to the Trustee all Debentures when paid as evidence of such payment. If the time for the payment of any interest or principal shall be so extended, whether or not such extension is by or with the consent of the Corporation, notwithstanding anything herein or in the Debentures contained, such interest or principal shall not be entitled, in case of default hereunder, to the benefit of this Indenture except subject to the prior payment in full of the principal of all the Debentures then outstanding and of all matured interest on such Debentures the payment of which has not been so extended.

Not to Extend Time for Payment of Interest or Principal. (1) The Corporation covenants that, in order to prevent any accumulation after maturity of unpaid interest or of unpaid Debentures, the Corporation will not directly or indirectly extend or assent to the extension of time for payment of any interest upon any Debentures or of any principal payable in respect of any Debentures and that it will not directly or indirectly be or become a party to or approve any such arrangement by purchasing or funding any interest on the Debentures or any principal thereof or in any other manner and that the Corporation will deliver to the Trustee all Debentures when paid as evidence of such payment. manner. (2) If the time for the payment of any interest or principal shall be so extended, whether or not such extension is by or with the consent of the Corporation, notwithstanding anything herein or in the Debentures contained, such interest or principal shall not be entitled, in case of default hereunder, to the benefit of this Indenture except subject to the prior payment in full of the principal of all the Debentures then outstanding and of all matured interest on such Debentures the payment of which has not been so extended.

Not to Extend Time for Payment of Interest or Principal. (1) The Corporation covenants that, in order to prevent any accumulation after maturity of unpaid interest or of unpaid DebenturesNotes, the Corporation will not directly or indirectly extend or assent to the extension of time for payment of any interest upon any Debentures Notes or of any principal payable in respect of any Debentures Notes and that it will not directly or indirectly be or become a party to or approve any such arrangement by purchasing or funding any interest on the Debentures Notes or any principal thereof or in any other manner and that the Corporation will deliver to the Trustee all Debentures Notes when paid as evidence of such payment. . (2) If the time for the payment of any interest or principal shall be so extended, whether or not such extension is by or with the consent of the Corporation, notwithstanding anything herein or in the Debentures Notes contained, such interest or principal shall not be entitled, in case of default hereunder, to the benefit of this Indenture except subject to the prior payment in full of the principal principal, of all the Debentures Notes then outstanding and of all matured interest on such Debentures Notes the payment of which has not been so extended.

Not to Extend Time for Payment of Interest or Principal. The Corporation Company covenants that, in order to prevent any accumulation after maturity of unpaid interest or of unpaid Debentures, the Corporation Company will not directly or indirectly extend or assent to the extension of time for payment of any interest upon any Debentures or of any principal payable in respect of any Debentures and that it will not directly or indirectly be or become a party to or approve any such arrangement by purchasing or funding any interest on the Debentures or any principal thereof or in any other manner and that the Corporation Company will deliver to the Debenture Trustee all Debentures when paid as evidence of such payment. If the time for the payment of any interest or principal shall be so extended, whether or not such extension is by or with the consent of the CorporationCompany, notwithstanding anything herein or in the Debentures contained, such interest or principal shall not be entitled, in case of default hereunder, to the benefit of this Debenture Indenture except subject to the prior payment in full of the principal principal, of all the Debentures then outstanding and of all matured interest on such Debentures the payment of which has not been so extended.