Common use of Option to Effect Legal Defeasance and Covenant Defeasance Clause in Contracts

Option to Effect Legal Defeasance and Covenant Defeasance. The Company may, at its option and at any time, elect to have either Section 8.02 or 8.03 applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 8.

Appears in 2 contracts

Samples: Passu Intercreditor Agreement (United States Steel Corp), Indenture (United States Steel Corp)

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Option to Effect Legal Defeasance and Covenant Defeasance. The Company may, at its option and may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officers’ Certificate, elect to have either Section 8.02 or 8.03 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 8.

Appears in 2 contracts

Samples: Indenture (Gastar Exploration USA, Inc.), Indenture (Windstar Energy, LLC)

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