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

Payment of Interest; Defaulted Interest. Interest on any Debt Security that is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Debt Security (or one or more predecessor Debt Securities) is registered at the close of business on the regular record date for such interest at the office or agency of the Company maintained for such purpose pursuant to Section 2.5. Any interest on any Debt Security of any series that is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder thereof on the regular record date by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate borne by the Debt Securities of such series (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Company, at its election in each case, as provided in clause (a) or (b) below:

Appears in 3 contracts

Samples: Indenture (Stanley Works), Black & Decker Corp, Black & Decker Corp

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Payment of Interest; Defaulted Interest. Interest (including any Contingent Interest) on any Debt Security that 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 such Debt Security (or one or more predecessor Debt Securities) is registered at the close of business on the regular record date Regular Record Date for such interest payment at the office or agency of the Company maintained for such purpose pursuant to Section 2.5. Any interest (including any Contingent Interest) on any Debt Security of any series that which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder thereof on the regular record date by virtue of having been such HolderRegular Record Date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest (including any Contingent Interest) at the rate borne by the Debt Securities of such series (such defaulted interest (including any Contingent Interest) and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Company, at its election in each case, as provided in clause (a) or (b) below:

Appears in 2 contracts

Samples: Trinity Industries Inc, Trinity Industries Inc

Payment of Interest; Defaulted Interest. Interest (including any Additional Interest and Reporting Interest) on any Debt Security that 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 such Debt Security (or one or more predecessor Debt Securities) is registered at the close of business on the regular record date Regular Record Date for such interest payment at the office or agency of the Company maintained for such purpose pursuant to Section 2.52.05. Any interest on any Debt Security of any series that which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days days, shall forthwith cease to be payable to the Holder thereof on the regular record date by virtue of having been such HolderRegular Record Date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate borne by the Debt Securities of such series (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Company, Company at its election election, in each case, as provided in clause (a) or (b) below:

Appears in 1 contract

Samples: Purchase (Kyphon Inc)

Payment of Interest; Defaulted Interest. Interest (including any Contingent Interest) on any Debt Security that 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 such Debt Security (or one or more predecessor Debt Securities) is registered at the close of business on the regular record date Regular Record Date for such interest payment at the office or agency of the Company maintained for such purpose pursuant to Section 2.52.5 . Any interest (including any Contingent Interest) on any Debt Security of any series that which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder thereof on the regular record date by virtue of having been such HolderRegular Record Date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest (including any Contingent Interest) at the rate borne by the Debt Securities of such series (such defaulted interest (including any Contingent Interest) and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Company, at its election in each case, as provided in clause (a) or (b) below:

Appears in 1 contract

Samples: Indenture (Trinity Industries Inc)

Payment of Interest; Defaulted Interest. Interest (including any Contingent Interest) on any Debt Security that 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 such Debt Security (or one or more predecessor Debt Securities) is registered at the close of business on the regular record date Regular Record Date for such interest payment at the office or agency of the Company maintained for such purpose pursuant to Section 2.52.4. Any interest (including any Contingent Interest) on any Debt Security of any series that which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder thereof on the regular record date by virtue of having been such HolderRegular Record Date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest (including any Contingent Interest) at the rate borne by the Debt Securities of such series (such defaulted interest (including any Contingent Interest) and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Company, at its election in each case, as provided in clause (a) or (b) below:

Appears in 1 contract

Samples: Indenture (Manor Care Inc)

Payment of Interest; Defaulted Interest. Interest on any Debt Security that the Notes 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 such Debt Security (or one or more predecessor Debt Securities) is the Notes are registered at the close of business on the regular record date for such interest at the office or agency of the Company Parent or the Subsidiary Issuer, as the case may be, maintained for such purpose pursuant to Section 2.51.3. Any interest on any Debt Security of any series that Parent Note or Subsidiary Note, which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder thereof on the regular record date by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate borne by the Debt Securities of such series Notes (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall be paid by the CompanyParent or the Subsidiary Issuer, as the case may be, at its election in each case, as provided in clause (a) or (b) below:

Appears in 1 contract

Samples: Brown Tom Inc /De

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Payment of Interest; Defaulted Interest. Interest and Additional Interest, if any, on any Debt Security that 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 such Debt Security (or one or more predecessor Debt Securities) is registered at the close of business on the regular record date for such interest at the office or agency of the Company Issuer maintained for such purpose pursuant to Section 2.52.3. Any interest and Additional Interest, if any, on any Debt Security of any series that which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder thereof on the regular record date by virtue of having been such Holderdate, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate borne by the Debt Securities of such series (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the CompanyIssuer, at its their election in each case, as provided in clause (a) or (b) below:

Appears in 1 contract

Samples: Indenture (Nuevo Permian Inc.)

Payment of Interest; Defaulted Interest. Interest on any Debt Security that 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 such Debt Security Note (or one or more predecessor Debt SecuritiesNotes) is registered at the close of business on the regular record date for such interest payment date at the office or agency of the Company maintained for such purpose pursuant to Section 2.52.3. The regular record date shall be the 15th day of the month prior to an interest payment date. Any interest on any Debt Security of any series that Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder thereof on the regular record date by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate borne by the Debt Securities of such series Notes (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall be paid by the Company, at its election in each case, as provided in clause (a) or (b) below:

Appears in 1 contract

Samples: Columbus Energy Corp

Payment of Interest; Defaulted Interest. Interest (including any Contingent Interest) on any Debt Security that 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 such Debt Security (or one or more predecessor Debt Securities) is registered at the close of business on the regular record date for such interest payment at the office or agency of the Company maintained for such purpose pursuant to Section 2.5. Any interest (including any Contingent Interest) on any Debt Security of any series that which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder thereof on the regular record date by virtue of having been such HolderRegular Record Date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest (including any Contingent Interest) at the rate borne by the Debt Securities of such series (such defaulted interest (including any Contingent Interest) and interest thereon herein collectively called "Defaulted Interest") shall be paid by the Company, at its election in each case, as provided in clause (a) or (b) below:

Appears in 1 contract

Samples: Indenture (HCRC Inc)

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