Optional Deferral of Interest. (a) As long as no Event of Default has occurred and is continuing, and as long as a Failed Remarketing has not occurred, the Company has the right, at any time and from time to time, to defer payments of interest on the Debentures by extending the interest payment period on the Debentures for a period (each, an "Extension Period") not exceeding 20 consecutive quarters, during which Extension Period no interest shall be due and payable on the Debentures; provided that no Extension Period shall end on a date other than an Interest Payment Date or extend beyond the Stated Maturity. Upon the occurrence of a Failed Remarketing, any such Extension Period shall terminate, and interest shall become payable in cash on the next Interest Payment Date. Despite such deferral, interest shall continue to accrue with additional interest thereon (to the extent permitted by applicable law) at the Coupon Rate of the principal amount of the Debentures or the Reset Rate of the Accreted Value of the Debentures on the Remarketing Date, as applicable, compounded quarterly during any such Extension Period ("Compounded Interest"). Prior to the termination of any such Extension Period, the Company may further defer payments of interest by further extending such Extension Period; provided that such Extension Period, together with all such previous and further extensions of such Extension Period, may not exceed 20 consecutive quarters or extend beyond the Stated Maturity. At the termination of any Extension Period, the Company shall pay all interest then accrued and unpaid, plus Compounded Interest. Upon the termination of any Extension Period and the payment of all amounts then due, the Company may commence a new Extension Period, subject to the above requirements.
Optional Deferral of Interest. (a) The Company 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 and/or Deferred Interest otherwise due on the Notes on any Interest Payment Date (“Optional Deferral”); provided, however, that the Company 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 Company 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 equal or exceed ten (10) consecutive years, or (ii) elect to defer payment of any Interest due on the maturity date of the Notes, or, with respect to any Notes being redeemed, on the Redemption Date for such Notes. No Interest on the Notes shall be due and payable on any Interest Payment Date during an Optional Deferral Period; however, Interest shall accrue on the Notes during such period in accordance with Sections 2.6(a) and 2.6(d).
Optional Deferral of Interest. (a) OPTIONAL EXTENSION PERIOD. Subject to Section 2.08 and Section 3.02, as long as no Event of Default has occurred and is continuing, and as long as no Trigger Event has occurred and no Trigger Period caused thereby is continuing, the Company shall have the right at any time and from time to time, to defer payments of interest on the Notes by extending the Interest Payment Period on the Notes for a period (an "OPTIONAL EXTENSION PERIOD") not exceeding ten years following the first Interest Payment Date in such period on which interest was deferred, during which Optional Extension Period deferred interest on the Notes shall not be due and payable but will continue to accrue and compound semi-annually or quarterly, as applicable, to the extent permitted by applicable law, at the then applicable rate of interest on the notes; provided that no such Optional Extension Period may end on a date other than an Interest Payment Date or extend beyond the stated maturity of the Notes. At the end of any Optional Extension Period, the Company may settle any and all Optionally Deferred Interest with cash from any source until the date that is five years following the first Interest Payment Date as of which the Company commenced an Optional Extension Period on the Notes. Thereafter, subject to the occurrence of a Market Disruption Event, the Company must immediately and continuously use its Commercially Reasonable Efforts to sell shares of Common Stock and to use the proceeds therefrom to pay any outstanding Optionally Deferred Interest in accordance with the provisions of Section 3.02. If a Trigger Event occurs after commencement of an Optional Extension Period, the Optional Extension Period will be deemed suspended for so long as the Trigger Period is continuing. Once the Trigger Period is no longer continuing, the right of the Company to optionally defer payment of interest will continue, subject to the limitations and consequences described herein. The first Interest Payment Date on which the Company defers the payment of any interest (whether due to an optional deferral or the occurrence of a Trigger Event) will commence an Optional Extension Period. This Optional Extension Period will not be considered terminated until the first date thereafter when all accrued and unpaid interest, together with any Compounded Interest, has been paid by the Company. An Optional Extension Period may not, under any circumstances, extend beyond the tenth anniversary of its commenceme...
Optional Deferral of Interest. So long as no Event of Default has occurred and is continuing under the Indenture, the Company may elect at any time during the term of the Capital Securities, and from time to time, to defer one or more payments of interest on such Capital Securities (an “Optional Deferral” and any such deferred interest, “Optionally Deferred Interest”) for up to five years. During any Optional Deferral (an “Optional Deferral Period”), the Company may pay Optionally Deferred Interest out of any source of funds. Optionally Deferred Interest will continue to accrue and compound quarterly on each Interest Payment Date, to the extent permitted by applicable law, at the applicable Coupon Rate. Additionally, during any Optional Deferral Period, the restrictions on payment by the Company of dividends and other distributions on capital stock pursuant to Section 6.2 hereof will apply. There is no limit on the number of Optional Deferral Periods that the Company may begin.”
Optional Deferral of Interest. Subject to the terms of the Indenture, the Company 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 and/or Deferred Interest otherwise due on the Notes on any Interest Payment Date. No Interest on the Notes shall be due and payable on any Interest Payment Date during an Optional Deferral Period; however, Interest shall accrue on the Notes during such period in accordance with the Eighteenth Supplemental Indenture.
Optional Deferral of Interest. The Company may defer, at its sole discretion, on one or more occasions, payment for all (but not part) of the scheduled interest payment otherwise due and payable on any Interest Payment Date that falls on or after the earlier of (a) the Conversion Date and (b) March 31, 2012. The Company will give the Holder and the Debenture Trustee notice of any interest deferral not more than 30 nor less than 10 Business Days prior to the applicable Interest Payment Date. If the Interest Payment Date for which interest deferral is proposed is also the Conversion Date, no election to defer interest due on that date shall be effective unless the Company shall have converted the interest rate on the Securities and paid in full any Conversion Payment due in connection with the conversion. Any deferred amounts on the Securities not paid on an Interest Payment Date will accumulate but will bear no interest. The Company may at any time pay in whole or in part any deferred interest by providing at least five Business Days written notice to the Holder and the Debenture Trustee. The Company may not defer application of any available Conversion Credits, which shall be applied on each Interest Payment Date to reduce the amount of interest paid or deferred, as applicable, on the Securities. The Company may not elect to defer any scheduled interest on the Securities due on any Interest Payment Date at any time when CEMEX or any of its Subsidiaries has:
Optional Deferral of Interest. Subject to the terms of the Indenture, the Partnership 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 and/or Deferred Interest otherwise due on the Notes on any Interest Payment Date. No Interest on the Notes shall be due and payable on any Interest Payment Date during an Optional Deferral Period; however, Interest shall accrue on the Notes during such period in accordance with the First Supplemental Indenture.
Optional Deferral of Interest. 2.3 Section 4.1 (“Optional Deferral of Interest”) set forth in the Fifth Supplemental Indenture is hereby amended and restated in its entirety as follows:
Optional Deferral of Interest. 2.3 Section 4.1 (“Optional Deferral of Interest”) set forth in the Third Supplemental Indenture is hereby amended and restated in its entirety as follows:
Optional Deferral of Interest. (a) The Company shall have the right, at any time and from time to time during the term of the LoTSSM, to elect to defer payment of all or any portion of any Current Interest and/or Deferred Interest otherwise due on the LoTSSM on any Interest Payment Date (“Optional Deferral”); provided, however, that the Company may not (i) elect to defer payment of Interest if an Event of Default has occurred and is continuing as of the date of the Company’s notice of its election to the Trustee, (ii) elect to defer payment of any Interest otherwise due on any Interest Payment Date if the Company has 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, taken together as a single period, would exceed ten (10) consecutive years, or (iii) elect to defer payment of any Interest due on the maturity date of the LoTSSM, or, with respect to any LoTSSM being redeemed, on the Redemption Date for such LoTSSM. No Interest on the LoTSSM shall be due and payable on any Interest Payment Date during an Optional Deferral Period; however, Interest shall accrue on the LoTSSM during such period in accordance with Sections 2.6(a) and 2.6(d).
