Common use of Optional Extension of Stated Maturity Clause in Contracts

Optional Extension of Stated Maturity. If specified as contemplated by Section 2.03 with respect to the Securities of a particular series, the Company and the Guarantor shall have the right to (a) change the Stated Maturity of the principal of the Securities of such series upon the dissolution of the applicable MFH Financial Trust and the exchange of such Securities for the Preferred Securities of such MFH Financial Trust, or (b) extend the Stated Maturity of the principal of the Securities of such series; provided that, at the time any election to extend such Stated Maturity is made and at the time of such extension, (i) neither the Company nor the Guarantor is in bankruptcy, otherwise insolvent or in liquidation, (ii) neither the Company nor the Guarantor is in default in the payment of any interest or principal on the Debt Securities of such series or under the Guarantee in respect thereof, as the case may be, and no deferred interest payments thereon have accrued, (iii) the applicable MFH Financial Trust is not in arrears on payments of Distributions on its Preferred Securities and no deferred Distributions thereon have accumulated, (iv) the Securities of such series are rated not less than BBB+ by Standard & Poor's Ratings Services or Baa1 by Xxxxx'x Investors Service, Inc. or the equivalent by any other nationally recognized statistical rating organization and (v) the extended Stated Maturity is no later than the 49th anniversary of the initial issuance of the Preferred Securities of the applicable MFH Financial Trust; provided, further, that, if the Company exercises its right to dissolve the applicable MFH Financial Trust and exchange the Securities of such series for the Preferred Securities of such MFH Financial Trust as specified in clause (a) above, any changed Stated Maturity of the principal of the Securities of such series shall be no earlier than the date that is five years after the initial issue date of the Preferred Securities and no later than the date 30 years (plus an extended term of up to an additional 19 years if the above-referenced conditions are satisfied) after the initial issue date of the Preferred Securities of the applicable MFH Financial Trust.

Optional Extension of Stated Maturity. If specified as contemplated by Section 2.03 with respect to the Securities of a particular series, the Company and the Guarantor shall have the right to (a) change the Stated Maturity of the principal of the Securities of such series upon the dissolution of the applicable MFH Financial Countrywide Trust and the exchange of such Securities for the Preferred Securities of such MFH Financial Countrywide Trust, or (b) extend the Stated Maturity of the principal of the Securities of such series; provided that, at the time any election to extend such Stated Maturity is made and at the time of such extension, (i) neither the Company nor the Guarantor is in bankruptcy, otherwise insolvent or in liquidation, (ii) neither the Company nor the Guarantor is in default in the payment of any interest or principal on the Debt Securities of such series or under the Guarantee in respect thereof, as the case may be, and no deferred interest payments thereon have accrued, (iii) the applicable MFH Financial Countrywide Trust is not in arrears on payments of Distributions on its Preferred Securities and no deferred Distributions thereon have accumulated, (iv) the Securities of such series are rated not less than BBB+ - by Standard & Poor's Ratings Services or Baa1 - by Xxxxx'x Moody's Investors Service, Inc. or the equivalent by any other nationally recognized nationxxxx xxcognized statistical rating organization and (v) the extended Stated Maturity is no later than the 49th anniversary of the initial issuance of the Preferred Securities of the applicable MFH Financial Countrywide Trust; provided, further, that, if the Company exercises its right to dissolve the applicable MFH Financial Countrywide Trust and exchange the Securities of such series for the Preferred Securities of such MFH Financial Countrywide Trust as specified in clause (a) above, any changed Stated Maturity of the principal of the Securities of such series shall be no earlier than the date that is five years after the initial issue date of the Preferred Securities and no later than the date 30 years (plus an extended term of up to an additional 19 years if the above-referenced conditions are satisfied) after the initial issue date of the Preferred Securities of the applicable MFH Financial Countrywide Trust.

Optional Extension of Stated Maturity. If specified as contemplated by Section 2.03 with respect to the Securities of a particular series, the Company and the Guarantor shall have the right to (a) change the Stated Maturity of the principal of the Securities of such series upon the dissolution of the applicable MFH Financial Countrywide Trust and the exchange of such Securities for the Preferred Securities of such MFH Financial Countrywide Trust, or (b) extend the Stated Maturity of the principal of the Securities of such series; provided that, at the time any election to extend such Stated Maturity is made and at the time of such extension, (i) neither the Company nor the Guarantor is in bankruptcy, otherwise insolvent or in liquidation, (ii) neither the Company nor the Guarantor is in default in the payment of any interest or principal on the Debt Securities of such series or under the Guarantee in respect thereof, as the case may be, and no deferred interest payments thereon have accrued, (iii) the applicable MFH Financial Countrywide Trust is not in arrears on payments of Distributions on its Preferred Securities and no deferred Distributions thereon have accumulated, (iv) the Securities of such series are rated not less than BBB+ by Standard & Poor's Ratings Services or Baa1 by Xxxxx'x Investors Service, Inc. or the equivalent by any other nationally recognized statistical rating organization and (v) the extended Stated Maturity is no later than the 49th anniversary of the initial issuance of the Preferred Securities of the applicable MFH Financial Countrywide Trust; provided, further, that, if the Company exercises its right to dissolve the applicable MFH Financial Countrywide Trust and exchange the Securities of such series for the Preferred Securities of such MFH Financial Countrywide Trust as specified in clause (a) above, any changed Stated Maturity of the principal of the Securities of such series shall be no earlier than the date that is five years after the initial issue date of the Preferred Securities and no later than the date 30 years (plus an extended term of up to an additional 19 years if the above-referenced conditions are satisfied) after the initial issue date of the Preferred Securities of the applicable MFH Financial Countrywide Trust.

Optional Extension of Stated Maturity. If specified as contemplated by Section 2.03 with respect to the Securities of a particular series, the Company and the Guarantor shall have the right to (a) change the Stated Maturity of the principal of the Securities of such series upon the dissolution of the applicable MFH Financial Countrywide Trust and the exchange of such Securities for the Preferred Securities of such MFH Financial Countrywide Trust, or (b) extend the Stated Maturity of the principal of the Securities of such series; provided that, at the time any election to extend such Stated Maturity is made and at the time of such extension, (i) neither the Company nor the Guarantor is in bankruptcy, otherwise insolvent or in liquidation, (ii) neither the Company nor the Guarantor is in default in the payment of any interest or principal on the Debt Securities of such series or under the Guarantee in respect thereof, as the case may be, and no deferred interest payments thereon have accrued, (iii) the applicable MFH Financial Countrywide Trust is not in arrears on payments of Distributions on its Preferred Securities and no deferred Distributions thereon have accumulated, (iv) the Securities of such series are rated not less than BBB+ - by Standard & Poor's Ratings Services or Baa1 - by Xxxxx'x Moody's Investors ServiceSerxxxx, Inc. Xnc. or the equivalent by any other nationally recognized statistical rating organization and (v) the extended Stated Maturity is no later than the 49th anniversary of the initial issuance of the Preferred Securities of the applicable MFH Financial Countrywide Trust; provided, further, that, if the Company exercises its right to dissolve the applicable MFH Financial Countrywide Trust and exchange the Securities of such series for the Preferred Securities of such MFH Financial Countrywide Trust as specified in clause (a) above, any changed Stated Maturity of the principal of the Securities of such series shall be no earlier than the date that is five years after the initial issue date of the Preferred Securities and no later than the date 30 years (plus an extended term of up to an additional 19 years if the above-referenced conditions are satisfied) after the initial issue date of the Preferred Securities of the applicable MFH Financial Countrywide Trust.