Optional Interest Deferral. The Issuer may, at its sole discretion, elect to defer in whole (or in part) any payment of interest accrued on the Securities in respect of any Interest Period by giving notice of such election to the Securityholders in accordance with Condition 14 and to the Fiscal Agent and Paying Agents at least ten, but not more than 30, Business Days prior to the relevant Interest Payment Date. If the Issuer makes such an election, the Issuer shall have no obligation to make such payment and any such non-payment of interest shall not constitute a default of the Issuer or any other breach of obligations under the Securities or for any other purpose, unless such Arrears of Interest becomes due and payable in accordance with these Conditions. Any such interest which the Issuer duly elects to defer shall constitute “Arrears of Interest”. Any Arrears of Interest will remain outstanding until paid in full by the Issuer, but Arrears of Interest shall not themselves bear interest.
Optional Interest Deferral. Interest which accrues during an Interest Period will be due and payable on the relevant Interest Payment Date, unless the Issuer elects, in its sole discretion, to defer the relevant payment of interest (in whole or in part). The Issuer may, at its discretion, elect to defer any payment of interest (in whole or in part) which is otherwise scheduled to be paid on an Interest Payment Date; provided that any such deferred interest shall become due and payable on the date the Issuer declares any distributions on any of the Issuer’s common shares or preferred shares. If the Issuer elects not to make all or part of any payment of interest on an Interest Payment Date, then neither the Issuer nor any Guarantor will have any obligation to pay such interest on the relevant Interest Payment Date. Deferred interest will accrue, compounding on each subsequent Interest Payment Date, until paid. Such deferral will not constitute an Event of Default or any other breach under the Indenture, the Notes and the Guarantees. First Call Date: April 30, 2026
Optional Interest Deferral. The Company has the right on one or more occasions to defer the payment of interest on the Notes for up to five consecutive years (each such period, an “optional deferral period”). During an optional deferral period, interest will continue to accrue on the Notes, and deferred interest payments will accrue additional interest at the then applicable interest rate on the Notes, compounded semi-annually as of each Interest Payment Date to the extent permitted by applicable law. If the Company has exercised its right to defer interest payments on the Notes, neither the Company nor any Guarantor may generally make payments on or redeem or purchase any of its equity interests or any of its debt securities or guarantees that rank pari passu or junior to the Notes, subject to exceptions as set forth in the Indenture.
Optional Interest Deferral. On any Interest Payment Date other than a Compulsory Interest Payment Date or a Mandatory Interest Deferral Date (an Optional Interest Payment Date), the Issuer may, at its option, elect, by giving notice to the Noteholders pursuant to Condition 4.2(d) below, to defer payment of all (but not some only) of the interest accrued to that Interest Payment Date. If the Issuer makes such an election, the Issuer shall have no obligation to make such payment and any such non-payment of interest shall not constitute a default of the Issuer or any other breach of obligations under the Notes or for any other purpose. Pursuant to this Condition 4.2(a) (but without prejudice to any other provision of these Conditions), the Issuer may defer payment of interest on each Optional Interest Payment Date but may not defer interest in respect of an Interest Period ending immediately prior to the Maturity Date or any date on which the Notes are redeemed in full pursuant to these Conditions.
Optional Interest Deferral. Deferral of Interest Payments) shall not constitute a default by the Issuer under the Notes or for any other purpose.
Optional Interest Deferral. Interest which accrues during an Interest Period ending on but excluding an Interest Payment Date will be due and payable on that Interest Payment Date unless the Company, by notice to (a) the Holders in accordance with Section 10.1 of the Indenture and (b) the Trustee and Paying Agent at least seven Business Days prior to the relevant Interest Payment Date, elects to defer payment, from time to time, in whole or in part, of the interest accrued on the Notes in respect of any Interest Period. If the Company makes such election, interest will continue to accrue, however, the Company shall have no obligation to make such payment and any failure to pay shall not constitute a default by the Company or any other breach of obligations under the Notes or for any other purpose.
Optional Interest Deferral
