Common use of Outstanding Generally Clause in Contracts

Outstanding Generally. Notes outstanding at any time shall include all Notes that have been authenticated by the Trustee except for those cancelled by it, those delivered to it for cancellation and those described in this Section 2.07 as not outstanding. If a Note is replaced pursuant to Section 2.06 hereof, it ceases to be outstanding unless and until the Trustee receives proof satisfactory to it that the replaced Note is held by a bona fide purchaser. If the Paying Agent separates and holds in trust, on a maturity date, money sufficient to pay Notes on such date, then on and after such date, such Notes cease to be outstanding hereunder and interest thereon shall cease to accrue.

Outstanding Generally. Notes outstanding at any time shall include all Notes that have been authenticated by the Trustee except for those converted pursuant to Article XIII hereof, those cancelled by it, those delivered to it for cancellation and those described in this Section 2.07 as not outstanding. If a Note is replaced pursuant to Section 2.06 hereof, it ceases to be outstanding unless and until the Trustee receives proof satisfactory to it that the replaced Note is held by a bona fide purchaser. If the Paying Agent separates and holds in trust, on a maturity date, money sufficient to pay Notes on such date, then on and after such date, such Notes cease to be outstanding hereunder and interest thereon shall cease to accrue.