Payment of Deferred Interest. The Corporation shall not pay deferred interest (including Additional Interest thereon) on the Junior Subordinated Debentures on any Interest Payment Date during any Deferral Period prior to the Maturity Date or at any time an Event of Default has occurred and is continuing from any source other than Eligible Proceeds. Notwithstanding the foregoing, (i) the Corporation may pay current interest during a Deferral Period from any available funds and (ii) if the Federal Reserve disapproves of the Corporation’s sale of Qualifying APM Securities, the Corporation may pay deferred interest on the Junior Subordinated Debentures with cash from any source and if the Federal Reserve disapproves of the use of proceeds of the Corporation’s sale of Qualifying APM Securities to pay deferred interest on the Junior Subordinated Debentures, the Corporation may use the proceeds for other purposes and continue to defer interest on the Junior Subordinated Debentures. To the extent that the Corporation applies proceeds from the sale of Qualifying APM Securities to pay interest on the Junior Subordinated Debentures, such proceeds shall be allocated first to deferred payments of interest (including Additional Interest thereon) in chronological order based on the date each payment was first deferred; provided that no such proceeds shall be applied to deferred interest payments (including Additional Interest thereon) to the extent such proceeds exceed the amounts described in clauses (i) and (ii) of Section 2.6(a) until all other deferred interest payments (and Additional Interest thereon) with respect to such Deferral Period have been paid in full. The payment of interest from any other source shall be applied to current or deferred interest as directed by the Corporation and notified to the Trustee prior to the applicable Interest Payment Date. To the extent any payment allocable to any installment of interest (including Additional Interest thereon) is insufficient to pay such installment in full, such payment shall be applied pro rata to the outstanding Junior Subordinated Debentures. If the Corporation has outstanding Parity Securities under which it is obligated to sell Qualifying APM Securities and apply the net proceeds to the payment of deferred interest or distributions, then on any date and for any period the amount of net proceeds received by the Corporation from those sales and available for payment of the deferred interest and distributions shall be applied to the Junio...
Payment of Deferred Interest. On the Maturity Date or if the principal amount of the Debentures shall have been accelerated and such acceleration has not been rescinded, the Company shall pay all accrued and unpaid interest, including deferred interest, from any available funds. On any Interest Payment Date the Company may pay any accrued and unpaid interest from any available funds.
Payment of Deferred Interest. The accrued Deferred Interest (including all interest thereon) shall be due and payable in full in one lump sum upon the earliest occurrence of any of the following events: (a) the Term Loan Maturity Date, or (b) the date that all the Obligations hereunder are paid in full and the Loan Documents are terminated, or (c) the acceleration of the Obligations. Upon the occurrence of the events described in (a) or (c), Administrative Agent, on behalf of Lenders entitled thereto, either (i) may accept actual payment of all Deferred Interest (including all interest thereon) accrued prior to such date or (ii) may accept payment of 50% of such Deferred Interest and retain the right to obtain either the Warrants pursuant to the terms set forth in the Option and Warrant Agreement or the remainder of the Deferred Interest. Upon the payment in full of the Obligations hereunder and the termination of the Loan Documents, Administrative Agent, on behalf of such Lenders, must choose to either (i) accept payment of 50% of such Deferred Interest and the Warrants, or (ii) accept actual payment of all Deferred Interest (including all interest thereon) accrued prior to such date. If such Lenders have exercised the Option in accordance with the terms of the Option and Warrant Agreement, then Administrative Agent, on behalf of such Lenders, shall be entitled to receive payment of only 50% of such accrued Deferred Interest, but may (at their election) treat any accrued but foregone Deferred Interest (including all interest thereon) as additional exercise price paid for the Warrant Shares if and when such Warrants are exercised. Deferred Interest shall not be prepaid without the prior written consent of Administrative Agent.
Payment of Deferred Interest. The Company will not pay deferred interest on the LoTSSM before the Final Repayment Date or at any time an Event of Default has occurred and is continuing from any source other than Eligible Proceeds. Notwithstanding the foregoing, (i) the Company may pay current interest during a Deferral Period or at any other time from any available funds and (ii) if a Supervisory Event has occurred and is continuing, then the Company may (but is not obligated to) pay deferred interest with cash from any source. In addition, if the Company sells Qualifying APM Securities pursuant to Section 2.7 but a Supervisory Event arises from the Federal Reserve disapproving the use of the proceeds to pay deferred interest, the Company may use the proceeds for other purposes and continue to defer interest on the LoTSSM.
Payment of Deferred Interest. Deferred Interest shall be paid by the Borrower to the Lenders on the earlier of:
Payment of Deferred Interest. The Company shall not pay on any Interest Payment Date interest that has accrued on the ICONs during the quarterly interest period immediately preceding such Interest Payment Date, unless the Company pays therewith all accrued and unpaid interest (including any Additional Interest) at such time outstanding on the ICONs, including without limitation interest that has been deferred pursuant to clause (g) or clause (h) above.
Payment of Deferred Interest. The Company will not pay any deferred interest on the Debentures (including Additional Interest thereon) from any source other than Eligible Proceeds prior to the Final Maturity Date, except at any time that the principal amount has been accelerated and such acceleration has not been rescinded or in the case of a Business Combination to the extent described below in this Section 2.5(c). Notwithstanding the foregoing, the Company may pay current interest from any available funds.
Payment of Deferred Interest. The Company may elect, in its sole discretion, to pay Deferred Interest at any time, together with any related Arrears of Interest in whole or in part, with respect to the Notes, as provided in the Indenture. The Company shall pay any Deferred Interest and the related Arrears of Interest, in respect of the Notes, on the first occurring Mandatory Payment Date following the Interest Payment Date on which such Deferred Interest first arose, as provided in the Indenture.
Payment of Deferred Interest. (i) Commencing on the earlier of (A) the Fifth Deferral Anniversary and (B) the date of any payment of current interest on the Debentures during an Optional Deferral Period, if any Deferred Interest is outstanding, the Company shall continuously use its Commercially Reasonable Efforts to effect sales of Qualifying APM Securities in an amount that will generate sufficient net Eligible Equity Proceeds to enable the Company to pay in full all Deferred Interest on the Debentures then outstanding. Notwithstanding (and as a qualification to) the foregoing or any other provision of this Supplemental Indenture, (x) the Company shall not be obligated to make offers for or effect sales of Qualifying APM Securities during the occurrence and continuation of a Market Disruption Event or a Supervisory Event, (y) the Company will be permitted to pay Deferred Interest using cash from any source upon the occurrence of a Supervisory Event as provided for in paragraph (v) of Section 2.1(g) and (z) the Company shall not pay interest on the Debentures at a time when such payment would violate a specific prohibition against payment of interest contained in the terms of any Parity Securities or securities ranking senior to the Debentures upon a liquidation of the Company. The Company’s obligation to use Commercially Reasonable Efforts to sell Qualifying APM Securities to pay all Deferred Interest on the Debentures shall resume at such time as no Market Disruption Event or Supervisory Event exits or is continuing.
Payment of Deferred Interest. The Company will not pay deferred interest on the JSNs on any Interest Payment Date during any Extension Period prior to the Final Repayment Date or at any time an Event of Default has occurred and is continuing from any source other than Eligible Proceeds. Notwithstanding the foregoing, (i) the Company may pay current interest during an Extension Period or at any other time from any available funds and (ii) if a Supervisory Event has occurred and is continuing, then the Company may (but is not obligated to) pay deferred interest with cash from any source. In addition, if the Company sells Qualifying APM Securities pursuant to Section 2.7 but a Supervisory Event arises from the Federal Reserve disapproving the use of the proceeds to pay deferred interest, the Company may use the proceeds for other purposes and continue to defer interest on the JSNs.
