Common use of Optional Prepayment by Company Clause in Contracts

Optional Prepayment by Company. (a) Subject to the provisions of this Article XIV, including but not limited to Section 14.2(c), the Company shall have the right to prepay the Securities, in whole or in part, from time to time, on or after the Initial Optional Prepayment Date at an optional prepayment price (the "Optional Prepayment Price") equal to 100% of the principal amount to be prepaid plus accrued and unpaid interest thereon (including Additional Interest and Compounded Interest, if any) to the applicable date of prepayment. If the Securities are only prepaid redeemed pursuant to this Section 14.2, the Securities will be prepaid by lot or by any other method utilized by the Trustee; provided, that if at the time of prepayment the Securities are registered as a Global Security, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities held for the account of its participants to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York time, on the date of such prepayment or at such earlier time as the Company determines, provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid. (b) Notwithstanding the first sentence of Section 14.2, upon the entry of an order for dissolution of NYB Trust by a court of competent jurisdiction, the Securities thereafter will be subject to optional prepayment, in whole only, but not in part, on or after October 31, 2001, at the Optional Prepayment Price and otherwise in accordance with this Article XIV. (c) Any prepayment of Securities pursuant to Section 14.1 or Section 14.2 shall be subject to the receipt by the Company of any required regulatory approval, if then required.

Optional Prepayment by Company. (a) Subject to the provisions of this Article XIV, including but not limited to Section 14.2(c)Fourteen, the Company shall have the right to prepay the Securities, in whole or in part, from time to time, on or after the Initial Optional Prepayment Date at an the optional prepayment price prices set forth below (the "Optional Prepayment Price"expressed as percentages of principal) equal to 100% of the principal amount to be prepaid plus plus, in each case, accrued and unpaid interest thereon (including Additional Interest and Compounded Interest, if any) to the applicable date of prepaymentprepayment (the "Optional Prepayment Price") if prepaid during the 12-month period beginning January 29 of the years indicated below. Year Percentage 2007 104.680% 2008 104.212% 66 2009 103.744% 2010 103.276% 2011 102.808% 2012 102.340% 2013 101.872% 2014 101.404% 2015 100.936% 2016 100.468% 2017 and thereafter 100.000% If the Securities are only partially prepaid redeemed pursuant to this Section 14.214.02, the Securities will be prepaid pro rata or by lot or by any other method utilized by the Trustee; provided, that if at the time of prepayment the Securities are registered as a Global Security, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities held for the account by each holder of its participants a Security to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York time, on the date of such prepayment or at such earlier time as the Company determines, provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid. (b) Notwithstanding the first sentence of Section 14.214.02, upon the entry of an order for dissolution of NYB Webster Capital Trust by a court of competent jurisdiction, the Securities thereafter will be subject to optional xxxxxxal prepayment, in whole only, but not in part, on or after October 31January 29, 20012007, at the Optional Prepayment Price optional prepayment prices set forth in Section 14.02 and otherwise in accordance with this Article XIVFourteen. (c) Any prepayment of Securities pursuant to Section 14.1 14.01 or Section 14.2 14.02 shall be subject to the receipt by the Company of any required regulatory approval, if then required.

Optional Prepayment by Company. (a) Subject to the provisions of this Article XIV, including but not limited to Section 14.2(c), the Company shall have the right to prepay redeem the Securities, in whole or in part, from time to time, on or after the Initial Optional Prepayment Date Date, at an optional prepayment price the redemption prices set forth below (the "Optional Prepayment Price"expressed as percentages of principal) equal to 100% of the principal amount to be prepaid plus plus, in each case, accrued and unpaid interest thereon (including Additional Interest and Compounded Interest, if any) to the applicable date of prepaymentredemption (the "Optional Prepayment Price") if redeemed during the 12-month period beginning February 1 of the years indicated below. Year Percentage ---- ---------- 2007 104.625% 2008 104.163% 2009 103.700% 2010 103.238% 2011 102.775% 2012 102.313% 2013 101.850% 2014 101.388% 2015 100.925% 2016 100.463% 2017 and thereafter 100.000% -------- If the Securities are only prepaid partially redeemed pursuant to this Section 14.214.02, the Securities will be prepaid redeemed pro rata or by lot or by any other method utilized by the Trustee; provided, that if at the time of prepayment redemption the Securities are registered as a Global Security, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities held for the account by each holder of its participants a Security to be prepaidredeemed. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York time, on the date of such prepayment redemption or at such earlier time as the Company determines, provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid. (b) Notwithstanding the first sentence of Section 14.214.02, upon the entry of an order for dissolution of NYB the OnBank Capital Trust by a court of competent jurisdiction, the Securities thereafter will be subject to optional prepaymentredemption, in whole only, but not in part, on or after October 31February 1, 20012007, at the Optional Prepayment Price optional redemption prices set forth in Section 14.02 and otherwise in accordance with this Article XIV. (c) Any prepayment redemption of Securities pursuant to Section 14.1 14.01 or Section 14.2 14.02 shall be subject to the receipt by Company obtaining the Company prior approval of any required regulatory approvalthe Federal Reserve, if such approval is then requiredrequired under applicable capital guidelines or policies of the Federal Reserve.

Optional Prepayment by Company. (a) Subject to the provisions of this Article XIV, including but not limited to Section 14.2(c), the Company shall have the right to prepay the Securities, in whole or in part, from time to time, on or after the Initial Optional Prepayment Date at an optional prepayment price (the "Optional Prepayment Price") equal to 100% the percentage of the outstanding principal amount to be prepaid plus of the Securities specified below, plus, in each case, accrued and unpaid interest thereon (including Additional Interest and Compounded Interest, if any) to the applicable date of prepayment: On or after _________, __________: 100.000%. If the Securities are only prepaid redeemed pursuant to this Section 14.2, the Securities will be prepaid by lot or by any other method utilized by the Trustee; provided, that if at the time of prepayment the Securities are registered as a Global Security, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities held for the account of its participants to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York time, on the date of such prepayment or at such earlier time as the Company determines, provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid. (b) Notwithstanding the first sentence of Section 14.2, upon the entry of an order for dissolution of NYB LFC Trust by a court of competent jurisdiction, the Securities thereafter will be subject to optional prepayment, in whole only, but not in part, on or after October 31, 2001___________________, at the Optional Prepayment Price and otherwise in accordance with this Article XIV. (c) Any prepayment of Securities pursuant to Section 14.1 or Section 14.2 shall be subject to the receipt by the Company of any required regulatory approval, if then required.

Optional Prepayment by Company. (a) Subject to the provisions of this Article XIV, including but not limited to Section 14.2(c), the Company shall have the right to prepay the Securities, in whole or in part, from time to time, on or after February 1, 2007, at the Initial Optional Prepayment Date at an optional prepayment price (the "Optional Prepayment Price") equal to 100% the outstanding principal amount of the principal amount Securities to be prepaid prepaid, plus accrued and unpaid interest thereon (including Additional Compounded Interest and Compounded Additional Interest, if any) and any Additional Sums to the applicable date of prepaymentprepayment (the "Optional Prepayment Price"). If the Securities are only partially prepaid redeemed pursuant to this Section 14.214.02, the Securities to be prepaid will be prepaid chosen pro rata or by lot or by any other method utilized by the Trustee; provided, that if that, as to Securities registered as a Global Security at the time of prepayment the Securities are registered as a Global Securityprepayment, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities held for the account by each beneficial owner of its participants such Securities to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York City time, on the date of such prepayment or at such earlier time as the Company determines, provided provided, that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid. (b) Notwithstanding the first sentence of Section 14.214.02(a), upon the entry of an order for dissolution of NYB Trenwick Capital Trust I by a court of competent jurisdiction, the Securities thereafter will be subject to optional prepayment, in whole only, but not in part, on or after October 31February 1, 20012007, at the Optional Prepayment Price optional prepayment price set forth in Section 14.02(a) and otherwise in accordance with this Article XIV. (c) Any prepayment of Securities pursuant to Section 14.1 or Section 14.2 shall be subject to the receipt by the Company of any required regulatory approval, if then required.