Optional Deferral. The Issuer may, at its sole discretion, elect to defer (in whole or in part) Distribution which is otherwise scheduled to be paid on a Distribution Payment Date to the next Distribution Payment Date by giving notice (an "Optional Deferral Notice") to the Holders (in accordance with Condition 14 (Notices)) not more than 10 nor less than five Business Days prior to a scheduled Distribution Payment Date.
Optional Deferral. (a) So long as no Event of Default has occurred and is continuing, the Issuer shall have the right, at any time and from time to time during the term of the Notes, to elect to defer payment of all or any portion of any Current Interest or Deferred Interest otherwise due on the Notes on any Interest Payment Date (an “Optional Deferral”); provided, however, that the Issuer may not (i) elect to defer payment of any interest otherwise due on any Interest Payment Date if, as a result of such deferral, the Issuer shall have deferred payment of some or all of the interest due on a number of consecutive Interest Payment Dates with respect to a number of consecutive Interest Periods which, when taken together as a single period, would exceed ten (10) consecutive years, or (ii) elect to defer payment of any interest due on the final maturity date of the Notes, or, with respect to any Notes being redeemed, on the Redemption Date for such Notes. During an Optional Deferral Period, no interest on the Notes shall be due and payable until the end of such Optional Deferral Period (except upon a redemption of the Notes during such period); however, interest shall accrue on the Notes during such period in accordance with Sections 2.06(a), 2.06(b) and 2.06(e).
Optional Deferral. The Company may, at its sole discretion, elect to defer, in whole or in part, any Distribution (including any Arrears of Distribution and any Additional Distribution Amount) which is otherwise scheduled to be paid on a Distribution Payment Date to the immediately following Distribution Payment Date by giving notice (an “Optional Distribution Deferral Notice”), substantially in the form as set forth in Exhibit E, to the Holders and the Trustee not more than 15 nor less than 10 Business Days prior to a scheduled Distribution Payment Date (an “Optional Deferral Event”) and it shall be conclusive and binding on the Holders.
Optional Deferral. Subject to Section 2.03 (Dividend Stopper), and so long as no Event of Default has occurred and is continuing, the Company may (i) defer one or more payments of interest on the ICONs at any time and from time to time for up to five consecutive years, and (ii) subject to Section 2.05 (Alternative Payment Mechanism), may defer one or more payments of interest on the ICONs for up to ten consecutive years; provided, however, that no Optional Deferral Period shall end on a date other than an Interest Payment Date, nor shall any Optional Deferral Period extend beyond the Final Maturity Date. Deferred interest on the ICONs will continue to accrue during any Optional Deferral Period at the then-applicable interest rate, compounded on each Interest Payment Date to the extent permitted by applicable law (“Compounded Interest”). Subject to Section 2.05 (Alternative Payment Mechanism), no interest will be due an payable on the ICONs until the end of an Optional Deferral Period except upon a redemption of the ICONs or the acceleration of the ICONs following an Event of Default during an Optional Deferral Period. With respect to each Optional Deferral Period, the Company shall deliver to the Trustee written notice of any optional deferral pursuant to this clause at least 15 and not more than 30 Business Days prior to the relevant Interest Payment Date (“Deferral Notice”). Upon delivery of any Deferral Notice to the Trustee, such notice shall become irrevocable.
Optional Deferral. The Issuer may, at its sole discretion, elect to defer Distribution which is otherwise scheduled to be paid on a Distribution Payment Date to the next Distribution Payment Date by giving notice (an “Optional Deferral Notice”) to the Securityholders (in accordance with Condition 10) not more than 10 nor less than five Business Days prior to a scheduled Distribution Payment Date if, during the twelve months ending on the day before that scheduled Distribution Payment Date no discretionary dividend, distribution or other discretionary payment has been paid or declared by the Issuer on or in respect of its Junior Securities or its Parity Securities (an “Optional Deferral Event”).
Optional Deferral. Section 6.4.
Optional Deferral. The Managing Member may, in its sole discretion, determine that a distribution of the Preferred Non-Compounded Accrual Amount shall not be paid on a scheduled Distribution Date for any Fiscal Period.
Optional Deferral. The right to receive any award under the Program (other than the right to purchase shares pursuant to the Stock Purchase Plan) may, at the request of the Plan Participant, be deferred to such period and upon such terms and conditions as the Program Administrators shall, in their discretion, determine, which may include crediting of interest on deferrals of cash and crediting of dividends on deferrals denominated in shares of Common Stock.
