Common use of Payment of Interest; Defaulted Interest Clause in Contracts

Payment of Interest; Defaulted Interest. Interest on any Note which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Note is being registered at the close of business on the Regular Record Date for such interest payment. If the Issuer defaults in a payment of interest, if any, on the Notes, it shall pay the defaulted interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Issuer shall fix or cause to be fixed each such special record date and payment date, provided that no such special record date shall be less than 10 days prior to the related payment date for such defaulted interest. At least 15 days before the special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed to Holders a notice that states the special record date, the related payment date and the amount of such interest to be paid.

Payment of Interest; Defaulted Interest. Interest on any Note which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Note (or one or more Predecessor Notes) is being registered at the close of business on the Regular Record Date for such interest payment. If the Issuer Company defaults in a payment of interest, if any, interest on the Notes, it shall pay the defaulted interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Issuer Company shall fix or cause to be fixed each such special record date and payment date, provided that no such special record date shall be less than 10 days prior to the related payment date for such defaulted interest. At least 15 days before the special record date, the Issuer Company (or, upon the written request of the IssuerCompany, the Trustee in the name and at the expense of the IssuerCompany) shall mail or deliver or cause to be mailed or delivered to Holders a notice that states the special record date, the related payment date and the amount of such interest to be paid. Notwithstanding the foregoing, the Company may make payment in cash of any defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange.

Payment of Interest; Defaulted Interest. Interest on any Note which is payable, and is punctually paid or duly provided for, payable on any Interest Payment Date shall be paid to the Person in whose name that Note (or one or more Predecessor Notes) is being registered at the close of business on the Regular Record Date for such interest payment. If the Issuer Company defaults in a payment of interestinterest or Additional Interest, if any, on the Notes, it shall pay the defaulted interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Issuer Company shall fix or cause to be fixed each such special record date and payment date, provided that no such special record date shall be less than 10 days prior to the related payment date for such defaulted interest. At least 15 days before the special record date, the Issuer Company (or, upon the written request of the IssuerCompany, the Trustee in the name and at the expense of the IssuerCompany) shall mail or cause to be mailed to Holders a notice that states the special record date, the related payment date and the amount of such interest to be paid.

Payment of Interest; Defaulted Interest. (a) Each of the Notes shall bear interest at the rate per annum of 7.0% for the period beginning on the Closing Date through and including January __, 2006, and at the rate of 8.0% after January __, 2006. The Company shall pay interest semiannually on January and June of each year, commencing on June __, 2004. Interest on any Note the Notes shall accrue from the most recent date to which is payableinterest has been paid or duly provided for or, and is punctually if no interest has been paid or duly provided for, on any from the Closing Date, until the principal amount thereof is paid. (b) Interest Payment Date shall be paid payable in cash. The Company shall pay interest on the Notes (except defaulted interest) to the Person in whose name that Note is being Persons who are registered Holders of Notes at the close of business on the Regular Record Date for such December __ or May __ next preceding the interest payment. payment date, even if Notes are canceled after the record date and on or before the interest payment date. (c) If the Issuer Company defaults in a payment of interest, if any, interest on the Notes, it the Company shall pay the defaulted interest in any lawful manner (plus, to the extent lawful, interest payable on such defaulted interest at the interest rate otherwise applicable hereunder) in any lawful manner. The Company may pay the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Issuer Company shall fix or cause to be fixed each any such special record date and payment date, provided that no such special record date and shall be less than 10 days prior to the related payment date for such defaulted interest. At least 15 days before the special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall promptly mail or cause to be mailed to Holders each Holder a notice that states the special record date, the related payment date and the amount of such defaulted interest to be paid. Such record date shall be not less than thirty (30) days prior to such payment date and such payment date shall be not less than fifteen (15) days after the date such notice is mailed to the Holders of the Notes.

Payment of Interest; Defaulted Interest. Interest on any Note which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Note is being registered in the register maintained by the Registrar at the close of business on the Regular Record Date for such interest. On each Interest Payment Date through and including June 1, 2005, the Company shall pay interest paymenton the Notes in the form of PIK Interest; thereafter the Company shall pay Cash Interest on each Interest Payment Date beginning on June 1, 2006. If the Issuer Company defaults in a payment of interest, if any, interest on the Notes, it such interest shall forthwith cease to be payable to the Holder on the relevant Record Date by virtue of having been such Holder, and the Company shall pay the defaulted interest in any lawful manner plusinterest, plus (to the extent lawful, ) any interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, in each case at which date shall be the rate provided in fifteenth day next preceding the Notes and in Section 4.01 hereof. The Issuer shall notify date fixed by the Trustee in writing of Company for the amount payment of defaulted interest proposed to be paid on each Note and or the next succeeding Business Day if such date of the proposed payment. The Issuer shall fix or cause to be fixed each such special record date and payment date, provided that no such special record date shall be less than 10 days prior to the related payment date for such defaulted interestis not a Business Day. At least 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) Company shall mail or cause to be mailed each Holder, as of a recent date selected by the Company, with a copy to Holders the Trustee, a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and interest payable on such interest defaulted interest, if any, to be paid.

Payment of Interest; Defaulted Interest. Interest on any Note which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Note is being registered at the close of business on the Regular Record Date for such interest payment. If the Issuer defaults in a payment of interest, if any, on the Notes, it shall pay the defaulted interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted interest, to the Persons who are Holders on on, at the election of the Issuer, either (i) the Regular Record Date or (ii) a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note Note, whether it is electing to pay such defaulted interest to the Persons who are Holders on the Regular Record Date or a special record date and the date of the proposed payment. The If the Issuer elects to fix a special record date, (a) the Issuer shall fix or cause to be fixed each such special record date and payment date, provided that no such special record date shall be less than 10 5 days prior to the related payment date for such defaulted interest. At interest and (b) at least 15 10 days before the special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed to Holders a notice that states the special record date, the related payment date and the amount of such interest to be paid.

Payment of Interest; Defaulted Interest. Interest on any Note which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person person in whose name that Note (or one or more Predecessor Notes) is being registered at the close of business on the Regular Record Date for such interest paymentinterest. If the Issuer Company defaults in a payment of interest, if any, interest on the NotesNotes which is payable (“Defaulted Interest”), it shall pay the defaulted interest Defaulted Interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted interestDefaulted Interest, to the Persons who are Holders on a subsequent special record dateSpecial Record Date, in each case at the rate provided in the Notes and in Section 4.01 hereofNotes. The Issuer Company shall notify the Trustee in writing of the amount of defaulted interest Defaulted Interest proposed to be paid on each Note Notes and the date of the proposed payment. The Issuer Company shall fix or cause to be fixed each such special record date Special Record Date and payment date, provided that no such special record date Special Record Date shall be less than 10 days prior to the related payment date for such defaulted interestDefaulted Interest. At least 15 days before the special record dateSpecial Record Date, the Issuer Company (or, upon the written request of the IssuerCompany, the Trustee in the name and at the expense of the IssuerCompany) shall mail or cause to be mailed to Holders a notice that states the special record dateSpecial Record Date, the related payment date and the amount of such interest to be paid. Subject to the foregoing provisions of this Section 2.14 and Section 2.08 hereof, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.